Employees are getting less sleep, which has been shown to deplete self-regulatory resources and increase unethical behavior (Barnes, Schaubroeck, Huth, & Ghumman, 2011; Christian & Ellis, 2011). In this study, we extend the original mediated model by examining the role of 2 moderators in the relationship between sleep deprivation, depletion, and deceptive behavior.
The current study meta-analytically examined the gendered nature of lateral and upward influence attempts. Drawing from gender role theory, we investigated the extent to which the gender of the influence actor affected the use and effectiveness of influence behaviors. The role of a gendered environmental context was also examined.
We study whether asset-class risk dynamics can help explain the predominantly negative stock-bond return relation and movements in the term-structure's slope over 1997-2011.
In emerging-market countries, commercial institutions do not always develop sufficiently quickly or effectively to support ambitious entrepreneurs. How might intermediaries remedy these problems? We address this question by drawing on institutional literatures to develop the concept of “open system intermediaries.” Our research design involves examining business incubators in emerging markets as a form of open system intermediary.
We explore the effect of the interplay between a firm's external and internal actions on market value in the context of corporate social responsibility (CSR). Specifically, drawing from the neo-institutional theory, we distinguish between external and internal CSR actions and argue that they jointly contribute to the accumulation of intangible firm resources and are therefore associated with better market value.
Prior work on supervisor bottom-line mentality (SBLM) has suggested it represents a static, unbending focus, with supervisors so focused on the bottom line that they discount ethical considerations. We propose that SBLM varies, within-person, given various factors in a supervisor's work life that pull and push their attention to and away from the bottom line across their workweeks. We theorize that the varying nature of SBLM elicits anxiety in employees that is exhausting because, on the days supervisors give greater emphasis to the bottom line, employees must abandon the comfort of their routines to produce bottom-line results. Ultimately, this experience motivates employee unethical behavior (i.e., coworker undermining). We also predict that, by providing employees support and guidance, supervisors’ steadfast commitment to ethics (i.e., between-person ethical leadership perceptions) influences the degree to which exhausted employees undermine their coworkers.
This study asks whether investors learn differently from gains versus losses. I find experimental evidence that indicates that being in the negative domain leads individuals to form overly pessimistic beliefs about available investment options.
There is widespread concern about whether Chief Executive Officers (CEOs) are appropriately punished for poor performance. While CEOs are more likely to be forced out if their performance is poor relative to the industry average, overall industry performance also matters.
This study examines whether the value a venture derives from an affiliation depends on its relative standing in the portfolio of all affiliations held by its partner. Relative standing refers to how the venture ranks among other ventures in the partner’s portfolio with respect to expected returns. The relative standing of a venture in its partner’s portfolio influences the venture’s access to the partner’s resources and the venture’s performance.
We study the use of residual income (RI) valuation methods by U.S. sell-side equity analysts, particularly as compared to DCF. We document that RI valuations are rare — just 1/16th as common as DCF — and that different RI and DCF valuations are not infrequently provided by the same analyst for the same firm in the same report.
Despite the central role played by human capital in entrepreneurship, little is known about how employees in entrepreneurial firms are compensated and incentivized. We address this gap in the literature by studying 18,935 non-CEO compensation contracts across 1,809 privately held venture-backed companies.
Current innovation literature provides a very limited understanding of the potential impacts of innovative culture on employees. Building on resource-based view theory, the authors investigate theoretically and empirically how a perceived innovative culture can be a building block for a firm's competitive resource and advantage by creating superior employee-level outcomes and how a market information-sharing process may moderate these effects.
We examine the relation between high frequency quotation and the behavior of stock prices between 2009 and 2011 for the full cross section of securities in the US. On average, higher quotation activity is associated with price series that more closely resemble a random walk, and significantly lower cost of trading.
Campbell, Hilscher, and Szilagyi (2008) show that firms with a high probability of default have abnormally low average future returns. We show that firms with a high potential for default (death) also tend to have a relatively high probability of extremely large (jackpot) payoffs.
We analyze a framework for understanding the impact of the equity lending market on share prices. Using very few assumptions, we show that the effect of shocks to the supply or demand for share ownership, the fraction of shares made available to short sellers by shareholders, short sale regulations, and disagreement among investors depends critically on whether a stock is hard to borrow or freely available.
I examine the intertemporal distribution of US productivity risk and show that the conditional mean of productivity growth is an important determinant of macro quantities and asset prices. After establishing this empirical link, I rationalize it in a production economy featuring long-run productivity risk, Epstein and Zin (1989) preferences, and investment frictions.
We investigate whether business ties with portfolio firms influence mutual funds' proxy voting using a comprehensive data set spanning 2003 to 2011. In contrast to prior literature, we find that business ties significantly influence pro-management voting at the level of individual pairs of fund families and firms after controlling for Institutional Shareholder Services (ISS) recommendations and holdings.
Management scholars are often interested in congruence effects, which they analyze using polynomial regressions and response surface analyses. They also more and more frequently conduct moderation analyses of these polynomial regressions to understand how response surfaces change as a function of a third variable. Our review of the literature in management and applied psychology that tested moderation of response surface models reveals three shortcomings of the current practices.
Today's marketing environment is characterized by a surge in multichannel shopping and ever more choice in advertising channels. This requires firms to understand how both digital and traditional advertising drive sales within the same channel (e.g., digital advertising affecting online sales) and across channels (e.g., digital advertising affecting offline sales).
Statistical control is widely used in correlational studies with the intent of providing more accurate estimates of relationships among variables, more conservative tests of hypotheses, or ruling out alternative explanations for empirical findings.