Abstract

The purpose of this paper is to examine the effects of authentic leadership on the work–family balance (WFB) of followers by focusing on the mediating roles of leader–member exchange (LMX) and work-to-family enrichment (WFE) and the moderating role of traditionality in China.

Keyword

Authentic leadership ;  Leader-member exchange ;  Work-family issues ;  Work-life balance

Abstract

Is there a correlation between the composition of the board of directors and the quantity and quality of information disclosed to the market, and in particular with respect to the disclosure of privileged, price-sensitive information? Our work examines this question with respect to the Italian Stock Exchange, also considering the role of minority-appointed directors in light of the Italian rules on slate voting that facilitate the election of directors by institutional investors and other minority shareholders. Based on a unique dataset of hand-picked data, we answer the basic research question in the affirmative. Independent directors and minority-appointed directors appear to have a positive impact on the amount and, to some extent, quality of disclosure, in particular if they have specific professional and educational qualifications (‘highly skilled directors’). We also tested if the market reacts to the information that is made public in order to consider the possible objection that outside directors simply require more disclosure of unimportant information. The event studies we conducted, however, indicate abnormal returns in the correspondence on the announcements we considered. The study sheds light on the role of independent and minority-appointed directors suggesting that they foster corporate transparency.

Keyword

Board of directors ;  Disclosure ;  Independent directors ;  Minority-appointed directors ;  Corporate governance ;  Inside information

Abstract

In the literature on monetary economics, there is the ‘inflationary bias’ result which predicts that the rate of inflation will be biased towards a higher level under discretionary monetary policy than under a rule‐based policy regime. It is established that a credible nominal target can eliminate this ‘inflationary bias’. In this paper, we examine the case of nominal GDP targeting, which is a rule‐based monetary regime. Depending on the degree of conservativeness by the central bank, we show in a stylized model the choice of different combination of inflation and real GDP targets can still result in an ‘inflationary bias’, and there also exists the possibility of a ‘dis‐inflationary bias’.

Keyword

monetary policy ;  nominal GDP targeting ;  central bank ;  conservatism ;  inflationary bias ;  E52 ;  E58

Abstract

This paper studies how monetary easing provides incentives for banks to take risk and issue mortgage-backed securities (MBS) and, because MBS have the "lemon" property, why MBS buyers are willing to purchase high-risk securities at high prices. Banks need equity to attract deposits. Monetary easing reduces this need, and banks leverage up and reduce their monitoring efforts. The internal need for liquidity and risk sharing motivates banks to issue MBS. Security buyers understand the moral hazard problem that banks face but are willing to purchase bank securities at high prices because monetary easing would also reduce their cost of funds.

Keyword

monetary policy ;  mortgage-backed securities ;  risk taking

Abstract

This study attempts to identify the variations in the transaction-specific investments made in logistics outsourcing relationships and explore how such variations are related to outsourcing cooperation. Based on the assumption that the vendor and the client always make some level of investment in outsourcing relationships, we develop a cluster model that illustrates four situations that indicate varying levels of vendor-specific investment and client-specific investment. We use data from client firms in logistics outsourcing relationships from China to test the theorised configurations through cluster analysis. The results validate our proposed matrix of specific investments and confirm that systematic configurations of the investment taxonomy and corresponding cooperation behaviours of information sharing, joint action, opportunism and conflict exist in each situation.

Keyword

conflict ;  information sharing ;  joint action ;  logistics outsourcing relationships ;  opportunism ;  Research paper ;  Transaction-specific investment

Abstract

Purpose Chinese investments abroad are being scrutinized more stringently because host governments fear that Chinese companies would steal domestically grown technology and know-how or be duped into a debt trap. The purpose of this paper is to provide a narrative of Chinese investments in a region that is neither developed nor underdeveloped – Central and Eastern Europe. The authors aim to provide an alternative view of Chinese investments abroad. Design/methodology/approach The authors base their narrative on face-to-face semi-structured interviews with eight Chinese firms that carried out mergers and acquisition activities in the region. Findings The respondents claim that they saved companies and jobs in the aftermath of the global financial crisis. Access to the China market and elsewhere has increased as a result of these investments. Transfer of technology has gone both ways depending on which partner had superior technology. Research limitations/implications It is important that Chinese investors emphasize the positive spillover effects from their investments, such as jobs saved, potential technology transfer and increased exports, when applying for FDI approval from host governments. Host governments, on the other hand, should evaluate each Chinese investment on its individual merits. Originality/value There is little that has been researched on the contributions of FDI from developing countries to host economies. This paper is an early attempt in this direction.

Keyword

Abstract

Expressing (vs. withholding) forgiveness is often promoted as a beneficial response for victims. In the present research, we argue that withholding (vs. expressing) forgiveness can also be beneficial to victims by stimulating subsequent transgressor compliance - a response that is valuable in restoring the victim's needs for control. Based on deterrence theory, we argue that a victim's withheld (vs. expressed) forgiveness promotes transgressor compliance when the victim has low power, relative to the transgressor. This is because withheld (vs. expressed) forgiveness from a low-power victim elicits transgressor fear. On the other hand, because people are fearful of high-power actors, high-power victims can expect high levels of compliance from a transgressor, regardless of whether they express forgiveness or not. A critical incidents survey (Study 1) and an autobiographic recall study (Study 2) among employees, as well as a laboratory experiment among business students (Study 3), support these predictions. These studies are among the first to reveal that withholding forgiveness can be beneficial for low-power victims in a hierarchical context - ironically, a context in which offering forgiveness is often expected.

Keyword

compliance ;  deterrence theory ;  fear ;  forgiveness ;  Power

Abstract

While a large body of research has investigated cultural differences in behavior, this typical study assesses a single behavioral outcome, in a single context, compared across two countries. The current study compared a broad array of behaviors across 21 countries (N = 5,522). Participants described their behavior at 7:00 p.m. the previous evening using the 68 items of the Riverside Behavioral Q-sort (RBQ). Correlations between average patterns of behavior in each country ranged from r = .69 to r = .97 and, in general, described a positive and relaxed activity. The most similar patterns were United States/Canada and least similar were Japan/United Arab Emirates (UAE). Similarities in behavior within countries were largest in Spain and smallest in the UAE. Further analyses correlated average RBQ item placements in each country with, among others, country-level value dimensions, personality traits, self-esteem levels, economic output, and population. Extroversion, openness, neuroticism, conscientiousness, self-esteem, happiness, and tolerant attitudes yielded more significant correlations than expected by chance.

Keyword

behavior ;  cross-cultural ;  personality ;  Riverside Behavioral Q-sort

Abstract

In complex and competitive business environment, there have been many examples of supply chain members fighting for power. Therefore, researchers have begun focusing on the impact of control power allocation on the supply chain. This paper examines the allocation of power in different service supply chain relationships, analyzing the impact of service level on optimal control power allocation and comparing the differences between the optimal power distribution in service supply chains and that of manufacturing supply chains. We adopt a mathematical model building method to discuss this issue, verifying the theoretical perspectives through empirical studies of China's largest state-owned logistics company, the China Railway Company, and the private ownership enterprise, Tianjin SND Logistics Company. We also develop a conceptual model of the influence of control power on the performance of service supply chains, based on the modeling and case analysis. The conceptual model shows several results: the control power allocation determines the dominant structure of the supply chain; the service provider's wholesale pricing strategy and the service integrator's sales price strategy present different outcomes under various dominant structures of the supply chain, which will greatly affect the performance of the corresponding supply chain; and the relationship between the supply chain dominant structure and the price can be adjusted by the service level.

Keyword

Case study ;  Conceptual model ;  Control power ;  Model analysis ;  Service level ;  Service supply chain

Abstract

Keyword

Health Care ;  Health Policy