• Takeover deterrents and cross partial ownership: the case of golden shares

      Serbera, J-P.; Fry, John (2019-04)
      We analyse takeovers in an industry with bilateral capital‐linked firms in cross partial ownership (CPO). Before merger, CPO reduces the profitability of involved firms, confirming the “outsider effect.” However, the impact of CPO upon merger profitability is two‐sided in a Cournot setting. CPO, by cointegrating profits, increases output collusion leading to anticompetitive effects with facilitated mergers in most cases. Nonetheless, a protective threshold exists for which CPO arrangements can reduce the incentives for hostile takeovers. This has potentially significant regulatory implications. An illustrative example showcases the potential relevance of CPO as a defence against hostile takeovers across different industries.
    • A tale of two utopias: Work in a post-growth world

      Mair, Simon; Druckman, A.; Jackson, T. (2020-07)
      In this paper, we aim to contribute to the literature on post-growth futures. Modern imaginings of the future are constrained by the assumptions of growth-based capitalism. To escape these assumptions we turn to utopian fiction. We explore depictions of work in Cokaygne, a utopian tradition dating back to the 12th century, and William Morris's 19th century News from Nowhere. Cokaygne is a land of excessive consumption without work, while in News from Nowhere work is the route to the good life. These competing notions provide inspiration for a post-growth vision of work. We argue that biophysical and social dynamics mean that in a post-growth economy we are likely to have to be less productive and work more. But, this can be a utopian vision. By breaking the link between work and consumption at the level of the individual, we can remove some of the coercion in work. This would free us to do jobs that contribute to the social good, rather than generate exchange value, and empower us to fight for good work. Finally, we draw on eco-feminist analyses of capitalism to argue that by challenging labour productivity growth we can also challenge wider forces of oppression.
    • Talent management practice in Oman: The institutional perspective

      Al Amri, R.; Glaister, Alison J.; Spicer, David P. (Edward Elgar, 2016)
    • Talent management: managerial sense making in the wake of Omanization

      Glaister, A.J.; Al Amri, R.; Spicer, David P. (Routledge, 2021)
      We examine how managers in Oman make sense of localization policies (Omanization) through their use of talent management (TM). Through an institutional logics (IL) lens, it is possible to examine how organizations confront institutional complexity and understand the interplay between state, market and societal logics. The paper analyses twenty-six interviews with managers in the Petroleum and Banking sector and is the first to examine TM within the context of Omanization using a layered, IL perspective. The paper finds that punitive state logics encourage organizations to focus on the societal wellbeing of their TM measures and inspires a sense of corporate social responsibility. Yet, the market logic dictates a stratified and differentiated approach that manages impressions of inclusivity while safeguarding organizational interests.
    • Talent on demand? Talent Management in the German and Irish Subsidiaries of a US Multinational Corporation

      Burbach, R.; Royle, Tony (2010)
      As the interest in talent management (TM) gathers momentum, this paper aims to unravel how talent is managed in multinational corporations, what factors mediate the talent management process and what computerised systems may contribute to the management of talent. The study employs a single case study but multiple units of analysis approach to elucidate the factors pertaining to the transmission and use of talent management practices across the German and Irish subsidiaries of a US multinational corporation. Primary data for this study derive from a series of in-depth interviews with key decision makers, which include managers at various levels in Germany, Ireland and The Netherlands. The findings suggest that the diffusion of, and success of, talent management practices is contingent on a combination of factors, including stakeholder involvement and top level support, micro-political exchanges, and the integration of talent management with a global human resource information system. Furthermore, the discussion illuminates the utility and limitations of Cappelli's “talent on demand” framework. The main limitation of this research is the adoption of a single case study method. As a result, the findings may not be applicable to a wider population of organisations and subsidiaries. Additional research will be required to substantiate the relevance of these findings in the context of other subsidiaries of the same and other corporations. This paper accentuates a number of practical implications. Inter alia, it highlights the complex nature of institutional factors affecting the talent management process and the potential efficacy of a human resource information system in managing talent globally.The paper extends the body of knowledge on the transfer of talent management practices in the subsidiaries of multinational corporations. The discussion presented herein may engender further academic debate on the talent management process in the academic and practitioner communities. The link between talent management and the use of human resource information systems established by this research may be of particular interest to human resource practitioners.
    • Taxation, risk-taking and growth: a continuous-time stochastic general equilibrium analysis with labor-leisure choice.

      Kenc, Turalay (2004)
      This paper investigates the equilibrium relationship between taxation, portfolio choice (risk-taking) and capital accumulation. Specifically, it examines how taxes affect risk-taking and capital accumulation. We extend the existing literature by relaxing two crucial assumptions in modelling risk-taking behavior: (i) that the investment opportunity set is fixed and (ii) that there is no distinction between attitudes towards risk and behavior towards intertemporal substitution. We extend the investment opportunity set of individuals through optimally determined human capital; and distinguish intertemporal substitution from attitudes towards risk via a recursive utility function. In the presence of these extensions, the paper successfully derives a closed-form solution to the stochastic growth model with stochastic wage income.
    • Taxing times: lean working and the creation of (in)efficiencies in HM Revenue and Customs

      Carter, B.; Danford, A.; Howcroft, D.; Richardson, H.; Smith, Andrew J.; Taylor, P. (2013)
      The prevailing economic and budgetary climate is intensifying the search for methods and practices aimed at generating efficiencies in public sector provision. This paper investigates the increasingly popular bundle of techniques operating under the generic descriptor of lean, which promises to improve operational quality processes while simultaneously reducing cost. It offers a critical appraisal of lean as a fashionable component of public sector reform and challenges the received wisdom that it unambiguously delivers ‘efficiencies’. Quantitative and qualitative research in HM Revenue and Customs (HMRC) centred on employees' experiences has indicated the extent to which work has been reorganized along lean principles. However, employees perceive that changes in organizational processes and working practices have unintentionally generated inefficiencies which have impacted on the quality of public service. These suggested outcomes raise wider concerns as lean working is adopted in other public sector organizations.
    • Team Trust

      Costa, Ana-Cristina; Anderson, Neil (Willey-Blackwell, 2017-03-23)
      This chapter seeks to clarify the definition of trust and its conceptualization specifically at the team or workgroup level, as well as discussing the similarities and differences between interpersonal and team level trust. Research on interpersonal trust has shown that individual perceptions of others trustworthiness and their willingness to engage in trusting behavior when interacting with them are largely history‐dependent processes. Thus, trust between two or more interdependent individuals develops as a function of their cumulative interaction. The chapter describes a multilevel framework with individual, team and organizational level determinants and outcomes of team trust. It aims to clarify core variables and processes underlying team trust and to develop a better understanding of how these phenomena operate in a system involving the individual team members, the team self and the organizational contexts in which the team operates. The chapter concludes by reviewing and proposing a number of directions for future research and future‐oriented methodological recommendations.
    • Technological innovation, organizational innovation and international performance of SMEs: The moderating role of domestic institutional environment

      Donbesuur, F.; Ampong, G.O.A.; Owusu-Yirenkyi, D.; Chu, Irene (2020-12)
      Despite the growing research on the performance implications of technological and organizational innovation, our understanding of how they impact SMEs’ international performance is limited. Drawing from the dynamic capability and the institutional theories, this study argues that technological and organizational innovation has a synergistic effect on international performance and that this effect is contingent on unique domestic institutional factors. We test this model using structural equation modeling on a sample of 204 internationalized SMEs operating in Ghana. The findings from the analysis show that high levels of organizational and technological innovation jointly improve SMEs’ international performance. In addition, the results show that institutional environment specificity and institutional environment enforceability enhance the complementary effect of organizational and technological innovation on the international performance of SMEs. The theoretical and managerial implications of the findings are discussed.
    • Technology as a disruptive agent: Intergenerational perspectives

      Mahroof, Kamran; Weerakkody, Vishanth J.P.; Onkal, Dilek; Hussain, Zahid I. (2020)
      This study explores how British South Asian parents perceive their children’s technology consumption through their collectivist lenses and interdependent values. The findings for this qualitative study indicate that second and third generation South Asian parents acknowledge the benefits of children’s technology use; but largely perceive technology as a disruptive agent, whereby children are becoming isolated and increasingly independent within the household. The analysis aims to understand how parents view their children’s relationship with others as a result of technology consumption. Accordingly, this paper proposes an extension of the Construal of self conceptualisation and contributes a Techno-construal matrix that establishes a dyadic connection between technology consumption and cultural values. Overall, the study reveals that children display less inter-reliance and conformance typically associated with collectivist cultures, resulting from their technology use. Consequently, parents interpret their children’s shift from interdependence to more independence as a disruptive and unsettling phenomenon within the household.
    • Testing the predictive ability of corridor implied volatility under GARCH models

      Lu, Shan (2019-06)
      This paper studies the predictive ability of corridor implied volatility (CIV) measure. It is motivated by the fact that CIV is measured with better precision and reliability than the model-free implied volatility due to the lack of liquid options in the tails of the risk-neutral distribution. By adding CIV measures to the modified GARCH specifications, the out-of-sample predictive ability of CIV is measured by the forecast accuracy of conditional volatility. It finds that the narrowest CIV measure, covering about 10% of the RND, dominate the 1-day ahead conditional volatility forecasts regardless of the choice of GARCH models in high volatile period; as market moves to non volatile periods, the optimal width broadens. For multi-day ahead forecasts narrow and mid-range CIV measures are favoured in the full sample and high volatile period for all forecast horizons, depending on which loss functions are used; whereas in non turbulent markets, certain mid-range CIV measures are favoured, for rare instances, wide CIV measures dominate the performance. Regarding the comparisons between best performed CIV measures and two benchmark measures (market volatility index and at-the-money Black–Scholes implied volatility), it shows that under the EGARCH framework, none of the benchmark measures are found to outperform best performed CIV measures, whereas under the GARCH and NAGARCH models, best performed CIV measures are outperformed by benchmark measures for certain instances.
    • Testing the regional performance of multinational enterprises in the retail sector: the moderating effects of timing, speed and experience

      Mohr, Alexander T.; Fastoso, Fernando; Wang, Chengang; Shirodkar, Vikrant (2014)
      Drawing on regional strategy theory we complement the core effect of firm-specific advantages on the performance of multinational enterprises with an analysis of the performance consequences of home region concentration on firm performance. We also develop hypotheses regarding the effect of foreign entry timing, internationalization speed and international experience on the performance effect of home region concentration. We test our hypotheses against unique longitudinal data from a panel of 128 multinational enterprises in the retail sector whose geographical spread of international activities we traced between 1995 and 2010. Our findings support the predictions of regional strategy theory and highlight the importance of foreign entry timing and internationalization speed in strengthening the positive effect of home region concentration on the performance of multinational enterprises.
    • The asymmetry of the New Keynesian Phillips Curve in the euro-area

      Chortareas, G.; Magkonis, Georgios; Panagiotidis, T. (2012)
      Using a two-stage quantile regression framework, we uncover significant asymmetries across quantiles for all coefficients in an otherwise standard New Keynesian Phillips Curve (NKPC) for the euro area. A pure NKPC specification accurately captures inflation dynamics at high inflation quantiles.
    • The Careers of Senior Men and Women - A Capabilities Theory Perspective

      Cornelius, Nelarine; Skinner, D. (2008)
      In this article we adopt a capabilities theory perspective to analyse 40 in-depth interviews (20 women, 20 men) exploring the careers of senior women and men in human resource management. Both groups felt driven by increasingly unconstrained demands of work, in the case of women paid and non-paid domestic work and for men primarily paid work, and perceptions of time autonomy (being able to exercise autonomy in allocating one's time) for both differed markedly. However, these senior women appeared to have negotiated a path which fitted with their realized functioning and quality of life goals and they measured success in their own terms. Senior men's working patterns and definitions of success remained largely traditional and for most the demands of work were dominant. However, there was evidence that male views were changing with some expressing a desire for a better balance with less time involved with work. Our findings highlight the importance of the family and we suggest that there is a need for the obligations of organizations in terms of their impact on the family unit to be stated and acted upon with the role of fathers as carers equally and explicitly expounded with that of mothers.
    • The comovement of option listed stocks

      Agyei-Ampomah, S.; Mazouz, Khelifa (2011)
      This study examines the changes in return comovement around the listing and delisting of stock option contracts. We show that newly option listed stocks experience an increase in comovement with a portfolio of option listed stocks and a decrease in comovement with the portfolio of non-optioned stocks. Similarly, stocks that undergo option delisting exhibit a decrease in comovement with option listed stocks and an increase in comovement with non-optioned stocks. We verify the reliability of our findings in several ways. A matched sample analysis suggests that our results are not driven by factors other than option listing and we find similar results using a calendar-time approach. Further analysis reveals that commonalities in option trading may induce the comovement in the option listed stocks. Overall, our evidence is consistent with the predictions of the category or habitat view of comovement.
    • The degradation of work and the end of the skilled emotion worker at Aer Lingus: is it all trolley dollies now?

      Curley, C.; Royle, Tony (2013)
      The article focuses on emotional labour and self-identity at the Irish-owned Aer Lingus airline from 1998 to 2008. It has been suggested that emotional labour is likely to be an increasingly important feature of frontline service jobs. However, in this case management has reduced the level of emotional labour requirement while work organization, recruitment policy and training have changed to focus on sales and lower labour costs, intensifying workloads and reducing cabin crew autonomy. Although some may suggest that a reduction in emotional labour requirement would be a positive outcome for employees, this is not how it has been perceived by some cabin crew. Long-serving cabin crew in particular see these changes as an attack on their professionalism and a challenge to their identity as skilled emotion workers.
    • The demands and challenges of being a retail store manager: 'Handcuffed to the front doors'

      Smith, Andrew J.; Elliott, F. (2012)
      This article presents a vivid account of the day to day reality of a female manager in a busy UK city centre food retail store. Insights into some of the transformations in retail work are illuminated, namely restricted store budgets, lean staffing and a long-hours culture. The combination of these factors has resulted in increasing workplace demands and time pressures, with health and well-being consequences. This unique account enhances understandings of the twin challenges for managers in attempting to accommodate work-life balance for their staff and themselves personally. Despite these workplace pressures, the narrative is peppered with instances of practical and emotional concern and support.
    • The diversity and politics of trade unions' responses to minority ethnic and migrant workers: the context of the UK

      Lucio, M.M.; Perrett, Robert A. (2009)
      The article first argues that there is a range of approaches and models developed in relation to the question of representing ethnic minorities and migrants when it comes to trade union strategies. There is no single model. Instead, there is a variety of approaches and politics, just as there are with a `traditionally established workforce'. Second, this study finds that the understanding of ethnic minority needs varies and the politics of this must be central to any discussion, as one cannot read off assumptions about the issue from formal union strategies, traditional practices and established customs in relation to regulation. In effect, there is a politics of trade union responses and there is diversity in the way the `problem' is read and understood. Third, the article argues that the issue of minority ethnic workers raises questions of trade union identity and purpose. This points to much deeper issues related to the role of regulation and strategies of inclusion — and the extent to which they cohere. It also raises the issue of the configuration of strategies of social inclusion and on occasions how strategies ignore the broader issue of participation of those they seek to represent. To this extent the article is not exclusively about inclusion and exclusion — but about the politics and contradictory dynamics of inclusion.