Accident rates and surface properties - an investigation of relationships. Final report.

Federal Highway Administration, Washington, D.C.

Corporate sponsorship of a cause: the role of identification in purchase intent

Nonprofit organizations (NPOs) have attracted significant levels of support from corporate sponsors over the past decade. Despite this significant and continuing interest, very little is known about how consumers perceive and respond to corporate sponsors of NPOs. Drawing on social identity theory, the authors propose that willingness to purchase sponsoring firms' products be related to consumers' identification with an NPO. Possible antecedents of identification with an NPO are also modeled, including the prestige of an NPO, consumers' affiliation with an NPO, and their motivation to support a cause. As predicted, the results find a positive relationship between consumers' identification with an NPO and their intentions to purchase sponsors' products. The results also suggest an important role for identification with an NPO in mediating the relationships between the antecedents studied here and consumers' purchase intentions. Finally, the moderating effects of biodata (life experiences) on several modeled relationships are examined. (C) 2003 Elsevier Inc. All rights reserved.

An examination of the antecedents of readiness for fine-tuning and corporate transformation changes

This study examined employee readiness for fine-tuning changes and for corporate transformation changes. It was proposed that employees would report different degrees of readiness for these two types of change and that different variables would be associated with readiness for the two types of change. Results of regression analyses indicated that trust in peers and logistics and system support displayed strong positive relationships with readiness for fine-tuning changes, while trust in senior leaders and self-efficacy displayed strong positive relationships with readiness for corporate transformation changes. The implications of this study focus on the appropriateness of traditional change management strategies in light of findings that multiple change readiness attitudes exist within an organization.

Individual spirit at work and its relationship with employee work attitudes and organisational outcomes:An empirical examination in corporate Thailand

The purpose of this thesis is to conduct empirical research in corporate Thailand in order to (1) validate the Spirit at Work Scale (2) investigate the relationships between individual spirit at work and three employee work attitudinal variables (job satisfaction, organisational identification and psychological well-being) and three organisational outcomes (in-role performance, organisational citizenship behaviours (OCB), and turnover intentions) (3) further examine causal relations among these organisational behaviour variables with a longitudinal design (4) examine three employee work attitudes as mediator variables between individual spirit at work and three organisational outcomes and (5) explore the potential antecedents of organisational conditions that foster employee experienced individual spirit at work. The two pilot studies with 155 UK and 175, 715 Thai samples were conducted for validation testing of the main measure used in this study: Spirit at Work Scale (Kinjerski & Skrypnek, 2006a). The results of the two studies including discriminant validity analyses strongly provided supportive evidence that Spirit at Work Scale (SAWS) is a sound psychometric measure and also a distinct construct from the three work attitude constructs. The final model of SAWS contains a total of twelve items; a three factor structure (meaning in work, sense of community, and spiritual connection) in which the sub-factors loaded on higher order factors and also had very acceptable reliability. In line with these results it was decided to use the second-order of SAWS model for Thai samples in the main study and subsequent analysis. The 715 completed questionnaires were received from the first wave of data collection during July - August 2008 and the second wave was conducted again within the same organisations and 501 completed questionnaires were received during March - April 2009. Data were obtained through 49 organisations which were from three types of organisations within Thailand: public organisations, for-profit organisations, and notfor-profit organisations. Confirmatory factor analysis of all measures used in the study and hypothesised model were tested with structural equation modelling techniques. The results were greatly supportive for the direct structural model and partially supportive for the fully mediated model. Moreover, there were different findings across self report and supervisor rating on performance and OCB models. Additionally, the antecedent conditions that fostered employees experienced individual spirit at work and the implications of these findings for research and practice are discussed.

A management tool for developing the relationships between large purchasing organisations and small ethnic minority suppliers

Purpose: The purpose of this paper is to scrutinise the characteristics of the relationship between large purchasing organisations (LPOs) and ethnic minority suppliers (EMSs) engaging with supplier diversity programmes and provide an assessment and developmental framework for such organisations. Design/methodology/approach: Having considered an array of purchaser-supplier relationship frameworks in relevant streams of literature, the paper draws on Lamming et al.'s framework to advance a tool for assessing and developing the relationship between LPOs and EMSs. Findings: The submitted relationship assessment and development framework brings in sharp focus the characteristics of the relationship between LPO and EMS, providing a systematic way to examine the inter-organisational context within which EMS development takes place. Research limitations/implications: The framework submitted could signpost future research in this field, which should take a longitudinal, processual approach. This is necessary to provide opportunities to examine the dynamics underlying the development of potent LPO-EMS relationships in a variety of settings, including negative instances. Practical implications: The paper has implications for corporate policy making and practice in this arena. Assessing the potency of LPOs-EMSs relationships by applying the proffered tool can help both parties engage with supplier diversity, to develop fruitful relationships that enhance their competitiveness. Social implications: The latter can have social implications, as EMSs often operate in and employ people from disadvantaged communities. Originality/value: The framework advanced in this article constitutes a novel tool that highlights the areas in which LPOs and EMSs should channel their efforts, in order to develop a potent relationship between them, which underpins the development of EMSs' supply capabilities. © Emerald Group Publishing Limited.

Individual spirit at work and its outcomes:an empirical examination in corporate Thailand

The purpose of the present study was to conduct empirical research in corporate Thailand in order to (1) investigate the relationships between individual spirit at work and three employee work attitudinal variables (organisational identification, job satisfaction and psychological well-being) and three organisational outcomes (in-role performance, organisational citizenship behaviours (OCB), and turnover intentions) (2) further examine causal relations among these organisational behaviour variables with a longitudinal design (3) examine three employee work attitudes as mediator variables between individual spirit at work and three organisational outcomes and (4) explore the potential antecedents of organisational conditions that foster employee experienced individual spirit at work. The 715 completed questionnaires were received from the first wave of data collection during July 2008 and the second wave was conducted again within the same organisations and 501 completed questionnaires were received during April 2009. Data were obtained through 52 organisations which were from three types of organisations within Thailand: public organisations (N=237,185), for-profit organisations (N=244,155), and not-for-profit organisations (N=234,161). Confirmatory factor analysis of all measures used in the study and hypothesized model were tested with structural equation modeling techniques. Results were strongly supportive. In addition, although the model was invariant across rater of performance and OCB, there were differences across self report and supervisor rating. Additionally, the antecedents of organisational conditions that fostered employees experienced individual spirit at work and the implications of these findings for practice and research are discussed.

Corporate governance and compliance with International Financial Reporting Standards (IFRSs):evidence from two MENA stock exchanges

This study examines the influence of corporate governance structures on the levels of compliance with IFRSs disclosure requirements by companies listed on the stock exchanges of two leading MENA (Middle East and North Africa) countries, Egypt and Jordan. This study employs a cross-sectional analysis of a sample of non-financial companies listed on the two stock exchanges for the fiscal year 2007. Using an unweighted disclosure index, the study measures the levels of compliance by companies listed on the two stock exchanges investigated.Univariate and multivariate regression analyses are used to estimate the relationships proposed in the hypotheses. In addition, the study uses semi-structured interviews in order to supplement the interpretation of the findings of the quantitative analyses. An innovative theoretical foundation is deployed, in which compliance is interpretable through three lenses - institutional isomorphism theory, secrecy versus transparency (one of Gray’s accounting sub-cultural values), and financial economics theories. The study extends the financial reporting literature, cross-national comparative financial disclosure literature, and the emerging markets disclosure literature by carrying out one of the first comparative studies of the above mentioned stock exchanges. Results provide evidence of a lack of de facto compliance (i.e., actual compliance) with IFRSs disclosure requirements in the scrutinised MENA countries. The impact of corporate governance mechanisms for best practice on enhancing the extent of compliance with mandatory IFRSs is absent in the stock exchanges in question. The limited impact of corporate governance best practice is mainly attributed to the novelty of corporate governance in the region, a finding which lends support to the applicability of the proposed theoretical foundation to the MENA context. Finally, the study provides recommendations for improving de facto compliance with IFRSs disclosure requirements and corporate governance best practice in the MENA region and suggests areas for future research.

Az üzleti kapcsolatok menedzsmentjének gondolati modellje. És ez miért lehet fontos a vállalati vezetők számára? (The conceptual model of management of business relations – and why it may be important for the corporate executives?)

A szerzők cikkükben az üzleti marketinget és a gazdaságszociológiai megközelítést ötvözve vizsgálják az üzleti kapcsolatok irányításának néhány problémáját. Gondolati modelljük figyelembe veszi a kapcsolatra vonatkozó külső és belső szabályokat, a kapcsolatban érintettek percepcióit és cselekvéseit. Az üzleti kapcsolat menedzsmentje alatt elsősorban tervező, szervező és ellenőrző tevékenységeket értenek, amelyek attól függően alakulnak, hogy egy kapcsolat létrehozása, fenntartása vagy változtatása-e a cél. Reményeik szerint az általuk javasolt gondolati modell alkalmazása a társadalmi összetevők világosabb felismerésében segítheti az üzleti élet résztvevőit. Dolgozatuk célja az üzleti kapcsolatok menedzsmentjét megkönnyítő gondolati modell felállítása. A modell operacionalizálása és empirikus tesztelése meghaladja jelen írásuk kereteit és egy esetleges jövőbeni kutatás témája lehet. ____________ The purpose of this article is to create and demonstrate such a conceptual model, which might assist in the more efficient management of business relationships. The peculiarity of the way of thinking proposed by the authors is that it takes into account the complexity of business relationships and its social embeddedness. Thus they make an attempt to systematize the key components of business relationships, their processes, economic and social characteristics. The authors would like to approach this from the point of view of the management of the business relationship, trusting that the deeper understanding of the complexity of business relationships and the consistent consideration of this complexity may contribute to the more successful management of relationships.

A versenyképesség és a társaságok belső ellenőrzése (Competitiveness and corporate internal audit)

A cikk a belső ellenőrzésnek a hatékony társaságirányításhoz való hozzájárulását és ennek a versenyképességre gyakorolt hatását vizsgálja. A belső ellenőrzés és a társaságirányítás kölcsönös összefüggésben áll egymással. Nemcsak a belső ellenőrzés hat a társaságirányításra, hanem a releváns társaságirányítási struktúrák, emberi kapcsolatok és magatartásformák jelentős hatást gyakorolnak a belső ellenőrzés színvonalára és hatékonyságára. A cikk ezért különös figyelmet szentel a belső ellenőröknek az igazgatósággal, az auditbizottsággal/felügyelőbizottsággal, a menedzsmenttel és a könyvvizsgálóval való kapcsolatainak vizsgálatára. Rávilágít a belső ellenőrzés legfőbb funkciójára, amely objektív bizonyosságot nyújt az igazgatóság és a felső vezetők számára a kockázatok azonosítására, kezelésére és elfogadható szintre történő csökkentésére szolgáló kontrollfolyamatok megfelelőségéről és hatékonyságáról. A bemutatott belső ellenőrzési modell azt a szemléletet közvetíti, hogy a belső ellenőrzés által nyújtott objektív bizonyosság megszerzése nemcsak a jogszabályoknak vagy az ajánlásoknak való megfelelés, hanem a társaságok versenyképessége szempontjából is kiemelkedő jelentőségű. _________ The purpose of this paper is to consider the contribution of internal audit to the sound corporate governance and the impact of that on the competitiveness of the companies. There is a mutual dependency between internal audit and corporate governance. Not only the internal audit has impact on the corporate governance but the relevant governance structures, relationships and behaviour influence the level and effectiveness of the internal audit. Therefore the present paper is highly concerned with the internal auditors` relationships with the board, audit committee/supervisory board, senior management and the external auditor. It highlights the internal audit function, that provides objective assurance to the board and senior management about the adequacy and effectiveness of the processes by which risks are identified, managed, controlled and mitigated to acceptable levels. The internal audit model demonstrated represents an approach, according to that getting objective assurance provided by internal audit is important not only to be in line with laws and recommendations but to facilitate the corporate competitiveness.

Bizalom és vállalati teljesítmény. A bizalom szerepe az aszimmetrikus információk minőségének vállalati észlelésében és azok vezetői döntéshozatalban való felhasználásában = Trust and corporate performance

A kutatás azt a kérdéskört vizsgálja, hogyan járul hozzá a bizalom a vállalatok piaci teljesítményéhez. A vállalatok azon képessége, hogy felhasználják a rendelkezésükre álló piaci információkat nehezen másolható, tartós versenyelőnyt biztosít. A marketingmenedzserek a piaci információk hitelességét nehezen tudják objektív módon megítélni, mivel azokat jellemzően mások gyűjtik és rendszerezik számukra. A szerző kutatásában a menedzserek vállalaton belüli és vállalaton kívüli piaci informálódást célzó kapcsolatai esetén modellezte és empirikusan tesztelte a bizalom hatásait. Eredményei szerint a bizalom a vállalaton belüli és vállalaton kívüli kapcsolatok esetében is fontos mozgatórugója az információfelhasználásnak, jóllehet közvetlenül nincs hatással arra. Minél jobban bízik a döntéshozó az információ forrásában, annál jobb minőségűnek fogja észlelni a tőle származó információt. Az információ észlelt minősége meghatározza, hogy arra támaszkodnak-e a vezetők a döntések meghozatalánál. Azok a marketingmenedzserek, akik képesek bizalmi kapcsolatok kiépítésére, szélesebb körű, hiteles piaci információkra támaszkodhatnak a döntéshozatal során, amely hozzájárul a vállalat piaci teljesítményéhez. ____ We have limited knowledge on the potential pattern similarities/differences of trust’s role that may exist in information use obtained through intra- and extra-organizational relationships. This study addresses this question by investigating how trust leads to information use. Data from 338 intra-organizational and a sub-ample of 158 inter-organizationaldyadic information exchange relationships showed that trust is an important driver of the utilization of market information in both cases. Trust has no direct relationship to information use, instead has a strong indirect effect through a mediator, perceived quality of information. The effects of trustontheuse of information obtained throughinter- and extra-organizational dyadic relationships proved to be similar.

A közelség szerepének újraértelmezése az innovatív üzleti kapcsolatokban (Rethinking the role of the proximity in the innovative business relationships)

Az innovatív vállalati kapcsolatokkal foglalkozó vizsgálatok sokasága az innovációs folyamatok „kettősségéről” ad számot. Egyrészt felértékelődött a térbeli közelség szerepe, emiatt az innovatív vállalkozások, intézmények térben koncentrálódnak, főleg a nagyvárosokban. Másrészt szerteágazó hálózatok jöttek létre a különböző országokban működő innovatív vállalatok, intézetek között, amelyek többsége a nagy távolságok ellenére is sikeres. Mindezen megfigyelések arra utalnak, hogy pontosítani kell a közelség és távolság üzleti szerepéről vallott ismereteket a változó globalizációs feltételekhez igazítva. A szerzők tanulmányukban áttekintik a térbeli közelség szerepének főbb jellemzőit az innovatív tevékenységeken alapuló vállalati együttműködések kialakulásában és fenntartásában. A hagyományos felfogások rövid ismertetése után a „hálózati közelség”, másképpen „kapcsolati közelség” (relational proximity) egyes típusait elemzik. Részletesen kitérnek a regionális klaszterek és a lokális innovatív miliő főbb jellemzőire, amelyek a térbeli és a kapcsolati közelségekből eredő előnyöket egyaránt hasznosítják. Ezek a mérvadó nemzetközi tapasztalatok itthon is alkalmazhatók az egyetemi és vállalati együttműködések, illetve a helyi gazdaságfejlesztési és vállalkozásfejlesztési programok kidolgozásakor. ________ Multiple studies of innovative business relations give an account about „the double character” of innovative processes. On the one hand, the role of proximity has been appreciated, for this reason, the innovative companies, institutes are concentrated in space, especially in big cities. On the other hand extensive networks have been established among innovative companies, institutes operating in the different countries, most of which are successful in spite of the long distance. All these observations suggest there is a need to clarify business skills on the role of proximity and distance, tailored to the changing conditions of globalization. In their study the authors review the role of the main features of spatial proximity in formation and maintenace of corporate cooperation based on innovative activities. After a brief description of traditional concepts certain types of „network proximity” otherwise relational proximity are analyzed. They cover main features of regional clusters and the local innovative environment which utilize advantages coming both from spatial and relational proximities. This leading international experience are applicable at home as well when elaborating academic and corporate cooperation resp. local development programs for the economy and corporations.

Matching human resource and corporate strategies

Increasing use of the term, Strategic Human Resource Management (SHRM), reflects the recognition of the interdependencies between corporate strategy, organization and human resource management in the functioning of the firm. Dyer and Holder (1988) proposed a comprehensive Human Resource Strategic Typology consisting of three strategic types--inducement, investment and involvement. This research attempted to empirically validate their typology and also test the performance implications of the match between corporate strategy and HR strategy. Hypotheses were tested to determine the relationships between internal consistency in HRM sub-systems, match between corporate strategy and HR strategy, and firm performance. Data were collected by a mail survey of 998 senior HR executives of whom 263 returned the completed questionnaire. Financial information on 909 firms was collected from secondary sources like 10-K reports and CD-Disclosure. Profitability ratios were indexed to industry averages. Confirmatory Factor Analysis using LISREL provided support in favor of the six-factor HR measurement model; the six factors were staffing, training, compensation, appraisal, job design and corporate involvement. Support was also found for the presence of a second-order factor labeled "HR Strategic Orientation" explaining the variations among the six factors. LISREL analysis also supported the congruence hypothesis that HR Strategic Orientation significantly affects firm performance. There was a significant associative relationship between HR Strategy and Corporate Strategy. However, the contingency effects of the match between HR and Corporate strategies were not supported. Several tests were conducted to show that the survey results are not affected by non-response bias nor by mono-method bias. Implications of these findings for both researchers and practitioners are discussed. ^

Three essays on the interrelationships among financial restatements, corporate governance, market microstructure and the firm's rate of return

The increase in the number of financial restatements in recent years has resulted in a significant decrease in the amount of market capitalization for restated companies. Prior literature did not differentiate between single and multiple restatements announcements. This research investigated the inter-relationships among multiple financial restatements, corporate governance, market microstructure and the firm’s rate of return in the form of three essays by differentiating between single and multiple restatement announcement companies. First essay examined the stock performance of companies announcing the financial restatement multiple times. The postulation is that prior research overestimates the abnormal return by not separating single restatement companies from multiple restatement companies. This study investigated how market penalizes the companies that announce restatement more than once. Differentiating the restatement announcement data based on number of restatement announcements, the results supported the non persistence hypothesis that the market has no memory and negative abnormal returns obtained after each of the restatement announcements are completely random. Second essay examined the multiple restatement announcements and its perceived resultant information asymmetry around the announcement day. This study examined the pattern of information asymmetry for these announcements in terms of whether the bid-ask spread widens around the announcement day. The empirical analysis supported the hypotheses that the spread does widen not only around the first restatement announcement day but around every subsequent announcement days as well. The third essay empirically examined the financial and corporate governance characteristics of single and multiple restatement announcements companies. The analysis showed that corporate governance variables influence the occurrence of multiple restatement announcements and can distinguish multiple restatements announcement companies from single restatement announcement companies.

Three Essays on the Interrelationships Among Financial Restatements, Corporate Governance, Market Microstructure and the Firm's Rate of Return

The increase in the number of financial restatements in recent years has resulted in a significant decrease in the amount of market capitalization for restated companies. Prior literature does not differentiate between single and multiple restatements announcements. This research investigates the inter-relationships among multiple financial restatements, corporate governance, market microstructure and the firm's rate of return in the form of three essays by differentiating between single and multiple restatement announcement companies. First essay examines the stock performance of companies announcing the financial restatement multiple times. The postulation is that prior research overestimates the abnormal return by not separating single restatement companies from multiple restatement companies. This study investigates how market penalizes the companies that announce restatement more than once. Differentiating the restatement announcement data based on number of restatement announcements, the results support for non persistence hypothesis that the market has no memory and negative abnormal returns obtained after each of the restatement announcements are completely random. Second essay examines the multiple restatement announcements and its perceived resultant information asymmetry around the announcement day. This study examines the pattern of information asymmetry for these announcements in terms of whether the bid-ask spread widens around the announcement day. The empirical analysis supports the hypotheses that the spread does widen not only around the first restatement announcement day but around every subsequent announcement days as well. The third essay empirically examines the financial and corporate governance characteristics of single and multiple restatement announcements companies. The analysis shows that corporate governance variables influence the occurrence of multiple restatement announcements and can distinguish multiple restatements announcement companies from single restatement announcement companies.

Making the governance of public bodies work : chair-chief executive relationships in practice

The authors gratefully acknowledge a grant from the British Academy (SG10591) and an award from the University of Aberdeen Knowledge Exchange and Transfer Fund.