Does managerial turnover affect football club share prices?

This paper analyses the 53 managerial sackings and resignations from 16 stock exchange listed English football clubs during the nine seasons between 2000/01 and 2008/09. The results demonstrate that, on average, a managerial sacking results in a post-announcement day market-adjusted share price rise of 0.3%, whilst a resignation leads to a drop in share price of 1% that continues for a trading month thereafter, cumulating in a negative abnormal return of over 8% from a trading day before the event. These findings are intuitive, and suggest that sacking a poorly performing manager may be welcomed by the markets as a possible route to better future match performance, while losing a capable manager through resignation, who typically progresses to a superior job, will result in a drop in a club’s share price. The paper also reveals that while the impact of managerial departures on stock price volatilities is less clear-cut, speculation in the newspapers is rife in the build-up to such an event.

Gradient competence at the syntax-discourse interface

In this article, we present additional support of Duffield's (2003, 2005) distinction between Underlying Competence and Surface Competence. Duffield argues that a more fine-grained distinction between levels of competence and performance is warranted and necessary. While underlying competence is categorical, surface competence is more probabilistic and gradient, being sensitive to lexical and constructional contingencies, including the contextual appropriateness of a given construction. We examine a subset of results from a study comparing native and learner competence of properties at the syntax-discourse interface. Specifically, we look at the acceptability of Clitic Right Dislocation in native and L2 Spanish, in discourse-appropriate context. We argue that Duffield's distinction is a possible explanation of our results.

Disentangling sources of incomplete acquisition: an explanation for competence divergence across heritage grammars.

This article brings to light an important variable involved in explaining a type of competence divergence in an instance of bilingual acquisition: heritage speaker (HS) bilingualism. We present results of experiments with European Portuguese (EP) heritage speakers (HSs), showing that they have full morpho-syntactic and semantic competence of inflected infinitives, similar to EP monolinguals. We show this constitutes clear evidence of competence mismatches between heritage speakers of European and Brazilian Portuguese, comparing our results to Rothman’s (2007) experimental evidence that Brazilian Portuguese (BP) heritage speakers lack knowledge of inflected infinitives. These comparative results are especially relevant because inflected infinitives were argued (Pires, 2002, 2006) to have been lost in colloquial BP dialects, although educated monolinguals demonstrate target competence.

Sometimes they use it, sometimes they don’t: an epistemological discussion of L2 morphological production and its use as a competence measurement

The main goal of all approaches to adult second language acquisition (SLA) is to accurately describe and explain the overall acquisition process. To accomplish this, SLA researchers must come to agree on some key issues. In this commentary, I defend the necessity of the competence/performance distinction and how this relates to why an examination of morphological production presents challenges for SLA research. I suggest that such a methodology is meaningful only when it is dovetailed with procedures that test for related syntactic/semantic knowledge.

Heritage speaker competence differences, language change and input type: inflected infinitives in Heritage Brazilian Portuguese

It has been argued that colloquial dialects of Brazilian Portuguese (BP) have undergone significant linguistic change resulting in the loss of inflected infinitives (e.g., Pires, 2002, 2006). Since BP adults, at least educated ones, have complete knowledge of inflected infinitives, the implicit claim is that they are transmitted via formal education in the standard dialect. In the present article, I test one of the latent predictions of such claims; namely, the fact that heritage speakers of BP who lack formal education in the standard dialect should never develop native-like knowledge of inflected infinitives. In doing so, I highlight two significant implications (a) that heritage speaker grammars are a good source for testing dialectal variation and language change proposals and (b) incomplete acquisition and/or attrition are not the only sources of heritage language competence differences. Employing the syntactic and semantic tests of Rothman and Iverson (2007), I compare heritage speakers' knowledge to Rothman and Iverson's advanced adult L2 learners and educated native controls. Unlike the latter groups, the data for heritage speakers indicate that they do not have target knowledge of inflected infinitives, lending support to Pires' claims, suggesting that literacy plays a significant role in the acquisition of this grammatical property in BP.

Perceived competence moderates the relation between performance-approach and performance-avoidance goals

In the present research, we conducted 4 studies designed to examine the hypothesis that perceived competence moderates the relation between performance-approach and performance-avoidance goals. Each study yielded supportive data, indicating that the correlation between the 2 goals is lower when perceived competence is high. This pattern was observed at the between- and within-subject level of analysis, with correlational and experimental methods and using both standard and novel achievement goal assessments, multiple operationalizations of perceived competence, and several different types of focal tasks. The findings from this research contribute to the achievement goal literature on theoretical, applied, and methodological fronts and highlight the importance of and need for additional empirical work in this area. (PsycINFO Database Record (c) 2012 APA, all rights reserved)(journal abstract)

Exploring the paradox of competence-creating subsidiaries: balancing bandwidth and dispersion in MNEs

This paper seeks to synthesise the various contributions to the special issue of Long Range Planning on competence-creating subsidiaries (CCS), and identifies avenues for future research. Effective competence-creation through a network of subsidiaries requires an appropriate balance between internal and external embeddedness. There are multiple types of firm-specific advantages (FSAs) essential to achieve this. In addition, wide-bandwidth pathways are needed with collaborators, suppliers, customers as well as internally within the MNE. Paradoxically, there is a natural tendency for bandwidth to shrink as dispersion increases. As distances (technological, organisational, and physical) become greater, there may be decreasing returns to R&D spread. Greater resources for knowledge integration and coordination are needed as intra-MNE and inter-firm R&D cooperation becomes more intensive and extensive. MNEs need to invest in mechanisms to promote wide-bandwidth knowledge flows, without which widely dispersed and networked MNEs can suffer from internal market failures.

Can perceptual differences account for managerial success?: the case of Japanese aid workers

Purpose – There is a wealth of studies which suggest that managers' positive perceptions/expectations can considerably influence the organisational performance; unfortunately, little empirical evidence has been obtained from development studies. This research aims to focus on the perceptual and behavioural trait differences of successful and unsuccessful aid workers, and their relationship with organisational performance. Design/methodology/approach – Through web-based survey, 244 valid responses were obtained from the Japan International Cooperation Agency (JICA)-aid managers worldwide. Five perception related factors were extracted and used for cluster analysis to group the respondents. Each cluster's perception/behaviour-related factors and organisational performance variables were compared by ANOVA. Findings – It was discovered that Japanese's positive perception/expectation about work and their local colleagues was related to higher organisational performance, and conversely, the negative perception on their part was generally associated with negative behaviour and lower organisational performance. Moreover, in a development context, lower work-related stress and feelings of resignation toward work were strongly associated with the acceptability of cross-cultural work environment. Practical implications – The differences in perceptual tendencies suggest that cautious consideration is advised since these findings may mainly apply to Japanese aid managers. However, as human nature is universal, positive perception and behaviour would bring out positive output in most organisations. Originality/value – This study extended the contextualised “Pygmalion effect” and has clarified the influence of perception/expectation on counter-part behaviour and organisational performance in development aid context, where people-related issues have often been ignored. This first-time research provides imperial data on the significant role of positive perception on the incumbent role holder.

Investigating the relationship between competence and patient outcome with CBT

Little is understood about the relationship between therapist competence and the outcome of patients treated for common mental health disorders. Understanding the relationship between competence and patient outcome is of fundamental importance to the dissemination and implementation of Cognitive Behavioural Therapy (CBT). The current study extends existing literature by exploring the relationship between CBT competence and patient outcome in routine clinical practice within the framework of the British Government’s Improving Access to Psychological Therapies (IAPT) programme. Participants comprised 43 therapists treating 1247 patients over a training period of one year. Results found little support of a general association between CBT competence and patient outcome; however significantly more patients of the most competent therapists demonstrated a reliable improvement in their symptoms of anxiety than would be expected by chance alone, and fewer experienced no reliable change. Conversely, significantly more patients treated by the least competent therapists experienced a reliable deterioration in their symptoms than would be expected. The implications of these results for the dissemination and implementation of CBT are discussed.

Exploring the source of differences and similarities in L1 attrition and heritage speaker competence: evidence from pronominal resolution

Several studies of different bilingual groups including L2 learners, child bilinguals, heritage speakers and L1 attriters reveal similar performance on syntax-discourse interface properties such as anaphora resolution (Sorace, 2011 and references therein). Specifically, bilinguals seem to allow more optionality in the interpretation of overt subject pronouns in null subject languages, such as Greek, Italian and Spanish while the interpretation of null subject pronouns is indistinguishable from monolingual natives. Nevertheless, there is some evidence pointing to bilingualism effects on the interpretation of null subject pronouns too in heritage speakers’ grammars (Montrul, 2004) due to some form of ‘arrested’ development in this group of bilinguals. The present study seeks to investigate similarities and differences between two Greek–Swedish bilingual groups, heritage speakers and L1 attriters, in anaphora resolution of null and overt subject pronouns in Greek using a self-paced listening with a sentence-picture matching decision task at the end of each sentence. The two groups differ in crucial ways: heritage speakers were simultaneous or early bilinguals while the L1 attriters were adult learners of the second language, Swedish. Our findings reveal differences from monolingual preferences in the interpretation of the overt pronoun for both heritage and attrited speakers while the differences attested between the two groups in the interpretation of null subject pronouns affect only response times with heritage being faster than attrited speakers. We argue that our results do not support an age of onset or differential input effects on bilingual performance in pronoun resolution.

Endogenous managerial compensation contracts in experimental quantity-setting duopolies

Given the ongoing debate on managerial compensation schemes, our paper offers empirical insights on the strategic choice of firms' owners over the terms of a managerial compensation contract, as a commitment device aiming at gaining competitive advantage in the product market. In a quantity setting duopoly we experimentally test whether firms' owners compensate their managers through contracts combining own profits either with revenues or with relative performance, and the resulting managerial behaviour in the product market. Prominent among our results is that firms' owners choose relative performance over profit revenue contracts more frequently. Further, firms' owners successfully induce a more aggressive behaviour by their managers in the market, by setting incentives which deviate from strict profit maximization.