Do socially responsible fund managers really invest differently?

To date, research into socially responsible investment (SRI), and in particular the socially responsible investment funds industry, has focused on whether investing in SRI assets has any differential impact on investor returns. Prior findings generally suggest that, on a risk-adjusted basis, there is no difference in performance between SRI and conventional funds. This result has led to questions about whether SRI funds are really any different from conventional funds. This paper examines whether the portfolio allocation across industry sectors and the stock-picking ability of SRI managers are different when compared to conventional fund managers. The study finds that SRI funds exhibit different industry betas consistent with different portfolio positions, but that these differences vary from year to year. It is also found that there is little difference in stock-picking ability between the two groups of fund managers.

And then came Complex Project Management

The subject of management is renowned for its addiction to fads and fashions. Project Management is no exception. The issue of interest for this paper is the establishment of the 'College of Complex Project Managers' and their 'competency standard for complex project managers.' Both have generated significant interest in the Project Management community, and like any other human endeavour they should be subject to critical evaluation. The results of this evaluation show significant flaws in the definition of complex in this case, the process by which the College and its standard have emerged, and the content of the standard. However, there is a significant case for a portfolio of research that extends the existing bodies of knowledge into large-scale complicated (or major) projects that would be owned by the relevant practitioner communities, rather than focused on one organization. Research questions are proposed that would commence this stream of activity towards an intelligent synthesis of what is required to manage in both complicated and truly complex environments.

Leadership in the Asian Century: Lessons from GLOBE

In this paper, based on the results of the Global Leadership and Organizational Behavior Effectiveness (GLOBE) 61-nation study of culture and leadership, we present findings related to three ‘clusters’ of countries. These clusters are: (1) the ‘Anglo culture’ cluster (Australia, Canada, Ireland, New Zealand, white South Africa, UK, and USA), the ‘Southern Asia’ cluster (Iran, India, Thailand, Malaysia, Indonesia, and the Philippines), and the ‘Confucian Asia’ cluster (China, Hong Kong, Japan, Singapore, South Korea, and Taiwan). Data from the GLOBE study, reporting middle managers’ perceptions of societal practices and values, and of the factors that facilitate and inhibit effective leadership will be compared across the three clusters. Results demonstrate that, despite differences in cultures, especially cultural values, perceptions of effective leadership vary substantially only in respect of the extent that participation is seen to facilitate leadership. In the Anglo cluster, participative leadership is seen as much more facilitative of leadership, than in either of the Asian clusters. Results are discussed in terms of effective leadership styles suitable for management in the twenty-first century, where Asian economies are likely to play a more dominant role than they have in recent history.

The effect of organisational culture perceptions on the relationship between budgetary participation and managerial job-related outcomes

The impact of managers' perceptions of their organizational culture (OC) on the relationship between budgetary participation (BP) and managerial job-related outcomes, operationalized as managerial performance and job-related tension (JRT) is examined. Data supported predictions that increasing BP would lower JRT for managers perceiving a high emphasis on innovation within their OC, regardless of their perceptions of an emphasis on attention to detail. When managers perceived low innovation, however, their perception of level of attention to detail had a significant effect on the relationship between BP and JRT.