European Management Journal最新文献

Management team categories, social network characteristics, and corporate credit risk 管理团队类别、社交网络特征和企业信贷风险

IF 7.5 2区管理学

European Management Journal Pub Date : 2024-08-26 DOI: 10.1016/j.emj.2024.08.009

Tsung-Kang Chen, Yijie Tseng, Yun Hao

{"title":"Management team categories, social network characteristics, and corporate credit risk","authors":"Tsung-Kang Chen, Yijie Tseng, Yun Hao","doi":"10.1016/j.emj.2024.08.009","DOIUrl":"https://doi.org/10.1016/j.emj.2024.08.009","url":null,"abstract":"We investigate the association between the social networks of management team (AMT) and corporate credit risk using American corporate bond market data. We find that the social network size of AMT is significantly and positively related to corporate bond yield spreads, consistent with the risk-taking mechanism. In addition, the relative social networks of AMT to CEO and subordinate executives to CEO are significantly and positively related to bond yield spreads while that of middle managers to CEO have the opposite association. This implies that relatively greater social networks of subordinate executives could potentially influence the CEO to undertake greater risks, whereas relatively greater social networks of middle managers reduce corporate credit risk mainly through the information-sharing mechanism rather than the risk-taking effect since MM has no direct decision-making authority. Moreover, the variations in social networks among AMT are positively associated with corporate bond yield spreads, suggesting that an inequitable distribution of power among AMT members increases corporate credit risk. Additionally, we find that non-invesment-grade bonds, managerial entrenchment, information asymmetry, and overinvestment all intensify the positive association between AMT social networks and credit risk, namely enhancing the bondholders’ perceptions about the risk-taking mechanism of AMT social networks. Finally, our findings are robust after considering endogeneity concerns and alternative model settings.","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":null,"pages":null},"PeriodicalIF":7.5,"publicationDate":"2024-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142223883","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

From pursuit of self-interest to pursuit of happiness: Complementary or contradictory readings of “wealth of nations” and “theory of moral sentiments”? 从追求自身利益到追求幸福：对 "国富论 "和 "道德情操论 "的解读是互补还是矛盾？

IF 7.5 2区管理学

European Management Journal Pub Date : 2024-08-22 DOI: 10.1016/j.emj.2024.08.008

Farah Naz, Dieter Bögenhold

引用次数: 0

Moral sentiments and sustainable finance: A proposal for new market segmentation 道德情感与可持续金融：新的市场细分建议

IF 7.5 2区管理学

European Management Journal Pub Date : 2024-08-15 DOI: 10.1016/j.emj.2024.08.007

Tom Hashimoto, Maik Huettinger

{"title":"Moral sentiments and sustainable finance: A proposal for new market segmentation","authors":"Tom Hashimoto, Maik Huettinger","doi":"10.1016/j.emj.2024.08.007","DOIUrl":"https://doi.org/10.1016/j.emj.2024.08.007","url":null,"abstract":"This article revisits Smith's account of self-interest to critically explore challenges and debates surrounding sustainable finance in contemporary organizational and institutional settings. Adam Smith derives his notion of ‘self-interest’ as concerned with both ‘self-love’ (care for oneself) and ‘sympathy’ (care for others); elements that are increasingly siloed in contemporary business settings. Drawing inspiration from (WoN) and the insightful wisdom of (TMS), this article aims to underscore how Smith's pivotal concepts, including sympathy, the impartial spectator, and justice, provide a strategic compass for characterizing demand within retail finance markets. More specifically, it argues for the potential for both demand and supply side considerations in sustainable finance to contemplate a more plural concept of self-interest. At the same time, it recognizes that currently available ESG (environmental, social, and governance) products are largely driven by ‘self-love,’ and as such, the ‘sympathy’ of investors is ignored, manipulated, or misplaced. To move beyond this socio-financial dilemma, we propose to segment sustainable finance into the ESG market and the SSI (social and sustainable investment) market, with the latter specifically addressing the demands for ‘sympathy.’ In this context, future work could explore and highlight the role of regulators in ensuring a Smithian self-interest in sustainable finance.","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":null,"pages":null},"PeriodicalIF":7.5,"publicationDate":"2024-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142181544","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The role of focal leaders in collective leadership behavior: A historiometric analysis of socialized and personalized leaders 焦点领导者在集体领导行为中的作用：对社会化和个性化领导的历史计量分析

IF 7.5 2区管理学

European Management Journal Pub Date : 2024-08-14 DOI: 10.1016/j.emj.2024.08.006

Ares Boira Lopez, Shane Connelly

{"title":"The role of focal leaders in collective leadership behavior: A historiometric analysis of socialized and personalized leaders","authors":"Ares Boira Lopez, Shane Connelly","doi":"10.1016/j.emj.2024.08.006","DOIUrl":"https://doi.org/10.1016/j.emj.2024.08.006","url":null,"abstract":"The increasing adoption of collectivistic leadership approaches in organizations has sparked a growing interest in understanding factors influencing their emergence and effectiveness. In their collective leadership framework, Friedrich, Vessey, Schuelke, Ruark, and Mumford (2009) underscore the pivotal role of focal leaders in sharing aspects of the leadership role and facilitating conditions for the emergence of informal leadership. Despite the imperative of power sharing in this process, no study to date has explored the relationship between power orientation and collective leadership behaviors. To address this gap, we conducted a historiometric leader analysis to compare collective leadership behavior between focal leaders with socialized and personalized orientations. Furthermore, there is a pressing need for additional empirical work investigating the relationships between collective leadership behaviors and outcomes, especially among leaders with different power orientations. Consequently, we conducted a series of correlations for each leader type to gain insight into these relationships. Our results indicate that personalized leaders exhibit less engagement in collective leadership behaviors compared to socialized leaders, and these behaviors successfully discriminate between the two power orientations. Additionally, we observed that personalized leaders who demonstrated greater engagement in collective leadership behaviors achieved more positive and fewer negative outcomes. Implications of these findings are discussed.","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":null,"pages":null},"PeriodicalIF":7.5,"publicationDate":"2024-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142181545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The impartial spectator and the pursuit of interest in commercial society: A dual-text reading of Adam Smith for contemporary business and management 商业社会中公正的旁观者和对利益的追求：亚当-斯密对当代商业和管理的双文本解读

IF 7.5 2区管理学

European Management Journal Pub Date : 2024-08-13 DOI: 10.1016/j.emj.2024.08.004

Juan Enrique Castro C

引用次数: 0

Strategic communication in organizational change: Exploring the impact of two-sided messages on legitimacy judgments and commitment to change 组织变革中的战略传播：探索双面信息对合法性判断和变革承诺的影响

IF 7.5 2区管理学

European Management Journal Pub Date : 2024-08-13 DOI: 10.1016/j.emj.2024.08.005

Luca Joachim Scheuer, Julia Thaler

引用次数: 0

Time is running out: How design thinking shapes team innovation under time constraints 时不我待：设计思维如何在时间紧迫的情况下塑造团队创新能力

IF 7.5 2区管理学

European Management Journal Pub Date : 2024-08-03 DOI: 10.1016/j.emj.2024.08.003

Marco Balzano, Guido Bortoluzzi

{"title":"Time is running out: How design thinking shapes team innovation under time constraints","authors":"Marco Balzano, Guido Bortoluzzi","doi":"10.1016/j.emj.2024.08.003","DOIUrl":"https://doi.org/10.1016/j.emj.2024.08.003","url":null,"abstract":"Design thinking as a problem-solving framework has garnered significant attention for its reliance on abductive reasoning and human-centeredness. Existing literature has underscored the importance of these elements in fostering an array of organizational outcomes and enhancing the overall stakeholder satisfaction. However, less is known about how these reasoning approaches influence team innovation quality, particularly in time-constrained settings. The present study aims to fill this gap by focusing on team dynamics and examining the effects of abductive reasoning and human-centeredness on team innovation quality. We conduct an empirical analysis involving seven teams, each undertaking multiple innovation decisions under time constraints in a laboratory game context. Our results suggest an interplay between the reasoning approaches and team innovation quality. Specifically, teams that relied more on abductive reasoning in time-constrained tasks tended to make lower-quality decisions, while teams that were highly human-centered produced decisions of higher quality. Importantly, team size emerged as a key moderating variable. Larger teams were found to exert an even more negative impact of abductive reasoning on team innovation quality while amplifying the positive effects of human-centeredness.","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":null,"pages":null},"PeriodicalIF":7.5,"publicationDate":"2024-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141936541","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Disability inclusion in workplaces, firm performance, and reputation 工作场所对残疾人的包容、公司业绩和声誉

IF 7.5 2区管理学

European Management Journal Pub Date : 2024-08-02 DOI: 10.1016/j.emj.2024.08.001

M. Ángeles Jurado-Caraballo, Cristina Quintana-García

引用次数: 0

Multilevel empirical research: A call for more mixed-methods approaches 多层次实证研究：呼吁采用更多混合方法

IF 7.5 2区管理学

European Management Journal Pub Date : 2024-08-01 DOI: 10.1016/j.emj.2024.06.001

引用次数: 0

Strategic corporate venturing in interlinked ambidextrous units: An exploratory model 在相互关联的双手灵巧的单元中进行战略性企业冒险：一个探索性模型

IF 7.5 2区管理学

European Management Journal Pub Date : 2024-08-01 DOI: 10.1016/j.emj.2023.02.003

{"title":"Strategic corporate venturing in interlinked ambidextrous units: An exploratory model","authors":"","doi":"10.1016/j.emj.2023.02.003","DOIUrl":"10.1016/j.emj.2023.02.003","url":null,"abstract":"<div><p>With scarce research on the intersection of corporate venturing and firm strategy, few companies succeed in using their dedicated corporate venturing units (CVUs) for strategic renewal. This study examines this intersection in so-called interlinked-ambidextrous CVUs. Through relational interlinks with internal and external stakeholders, these organizational entities combine the exploration of new market opportunities with the exploitation of existing core competencies to develop new competitive advantages for their parent companies. That way, they aim to create organizationally consequential new business that can change the competitive positioning of a company. To investigate such strategic corporate venturing, the study collects and analyses qualitative data from interlinked-ambidextrous units in 16 European companies. The resulting key themes and their relationships are mapped onto an exploratory model of strategic corporate venturing that includes organizational context factors as antecedents; process activities, relational mechanisms and dynamic capabilities as enablers; and an ambidextrous orientation as a mediator for the intended strategic renewal task. Embedding these key findings within existing theory provides valuable contributions to the development of the strategic corporate venturing concept and the understanding of interlinked-ambidextrous CVUs. This can help practitioners tackle the strategic renewal challenge through corporate venturing.</p></div>","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":null,"pages":null},"PeriodicalIF":7.5,"publicationDate":"2024-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49603630","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0