Has Management Studies Lost Its Way? Ideas for More Imaginative and Innovative Research

Despite the huge increase in the number of management articles published during the three last decades, there is a serious shortage of high‐impact research in management studies. We contend that a primary reason behind this paradoxical shortage is the near total dominance of incremental gap‐spotting research in management. This domination is even more paradoxical as it is well known that gap‐spotting rarely leads to influential theories. We identify three broad and interacting key drivers behind this double paradox: institutional conditions, professional norms, and researchers' identity constructions. We discuss how specific changes in these drivers can reduce the shortage of influential management theories. We also point to two methodologies that may encourage and facilitate more innovative and imaginative research and revisions of academic norms and identities.     

Post Keynesian Theories of Crisis

Post Keynesian economics has two complementary theories of crisis that were used to predict the 2007 crisis and diagnose its causes: Minsky's financial instability hypothesis and Godley's stock‐flow‐consistent approach. Both theories take a monetary perspective on capitalism and argue that the dynamics of private debt caused the crisis. As well as explaining the crisis and enabling its occurrence (though not precise timing) to be predicted, both theories imply that the current recovery will be short‐lived because the underlying cause of the last crisis has not been addressed by subsequent economic policy.     

Adoption and Coverage of Performance‐Related Pay during Institutional Change: An Integration of Institutional and Agency Theories

Whether or not to adopt and how extensively to use a newly legitimized practice are discrete decisions made by firms undergoing institutional change. The aim of this paper is to identify the distinct effects of economic, social, and political factors on the adoption of performance‐related pay practices and their coverage (i.e. the proportion of employees covered by the practices) by integrating institutional and agency theories. An empirical analysis is performed with a unique sample of Korean firms that experienced the East Asian financial crisis of 1997. The results show that while performance‐related pay adoption was influenced by economic and social factors, performance‐related pay coverage was related to political factors as well as economic and social factors. This finding suggests that while firms adopt performance‐related pay practices in search of legitimacy, they do not blindly imitate such practices but rather proactively adapt them based on economic efficiency considerations. This study makes valuable contributions to research on institutionalism and remuneration by empirically identifying the conditions under which a pay practice adopted for social legitimacy fits or fails to fit the economic needs of the adopters.     

Managing Legitimacy in Complex and Heterogeneous Environments: Sustainable Development in a Globalized World

The sustainability problems with regard to the production, distribution, and consumption of goods and services increasingly challenge the legitimacy of corporations. The literature distinguishes three strategies that corporations commonly employ to respond to legitimacy problems: adapt to external expectations, manipulate the perception of their stakeholders, or engage in a discourse with those who question their legitimacy. We discuss three approaches to determine the appropriate response strategy: one‐best‐way approach, contingency approach, and paradox approach. We argue that in the face of heterogeneous environments with conflicting demands, corporations that follow a paradox approach are likely to be more successful in preserving their legitimacy than those that adopt one of the other two approaches. We develop a theoretical framework for the application of different response strategies and explore the management of paradoxes by way of structural, contextual, or reflective means.     

Systems for Sustainable Organizations: Emergent Strategies,Interactive Controls and Semi-formal Information

New-form organizations are likely to organize more explicitly around processes than traditional-form organizations that emphasize functional hierarchy. Developing process-based strategic responses quickly using diffuse sets of resources is likely to play an increasingly important role in sustaining new organizational forms. Three ideas introduce alternative perspectives on strategy formulation, management control and information systems design that may be useful in understanding organizational performance in this area. They focus on: (1) emergent strategies, (2) interactive management controls, and (3) semi-formal systems. In combination these three perspectives describe relationships between strategy, organizational design and systems support that suggest mechanisms for improving the sustainability of new organizational forms. To some degree distributed organizational structures such as networked organizations and quasi-organizational forms such as alliances, partnerships and joint ventures represent attempts to solve a paradox of competitive agility. This paradox suggests that in the context of rapidly changing, increasingly global markets, organizations need to be flexible (so they can respond quickly to competitive threats) yet remain stable (so they can learn and grow based on their strengths). If this is the case, what systems and tools are available that encourage a productive balance between flexibility and stability? This paper uses the experience of regional management teams at a large consumer goods company to suggest how interactive controls and semi-formal information systems combine to increase the agility of a distributed organization that can employ emergent strategies. Evidence illustrates some of the mechanisms by which (a) faster response times deliver organizational flexibility while (b) semi-formal analytics add the stability of knowledge and guidance shared across organizational sites. Examples discuss the use of information within management teams, discussion behaviour within management meetings, and organizational performance in response to crisis events. In this context the paper analyses the characteristics of new-form systems that could be used to sustain new-form organizations While the development of process-oriented semi-formal systems is just beginning, the potential for linking such technology with newly developed approaches to management control appears to have important implications for the practice and performance of management in new-form organizations. In particular, interactive controls and semi-formal information appear to offer leverage as mechanisms for organizational adjustment during times when organizations must exploit emergent strategies     

Managers’ exploration activities and individual unlearning: the mediating role of learning orientation and reflection

Abstract

The main goal of this study was to investigate the effects of managers’ exploration activities on learning orientation, reflection, and unlearning of team members. A questionnaire survey was conducted among 115 employees in 23 teams from a Japanese pharmaceutical company. The results of multi-level analyses suggest that managers’ exploration activities had a direct influence on team members’ learning orientations, which subsequently had a positive influence on their unlearning, with and without the mediation of reflection. These findings suggest that a subordinate’s unlearning is driven by managers’ activities through motivational and cognitive processes. The theoretical and practical implications of the findings are discussed.     

A discrete‐choice model for large heterogeneous panels with interactive fixed effects with an application to the determinants of corporate bond issuance

What is the effect of funding costs on the conditional probability of issuing a corporate bond? We study this question in a novel dataset covering 5610 issuances by US firms over the period from 1990 to 2014. Identification of this effect is complicated because of unobserved, common shocks such as the global financial crisis. To account for these shocks, we extend the common correlated effects estimator to settings where outcomes are discrete. Both the asymptotic properties and the small‐sample behavior of this estimator are documented. We find that for non‐financial firms yields are negatively related to bond issuance but that the effect is larger in the pre‐crisis period.     

Moving beyond the tensions in open environmental innovation towards a holistic perspective

This paper analyses factors determining open environmental innovation (EI) and explores the possibility of embracing their tensions to achieve integrated environmental strategic goals. Building on recent literature linking open innovation and EI, the study assumes open EI strategic goals as a multidimensional construct based on the “synergistic and interwoven nature” of four identified enabling factors, that is, partners, knowledge, benefits, and motivations. A fuzzy‐set qualitative comparative analysis (fsQCA) based on Boolean algebra is conducted to analyse a set of 186 European companies operating in the telecommunication and information and communication technology (ICT) service industries. Making important theoretical, managerial, and policy contributions, this paper offers insights into the key factors enabling open EI and the tensional relationships within and between them. In doing so, it captures the non‐linear effects among these factors and the strategic goals related to an open EI strategy. It also suggests how the paradox theory might help in addressing the tensional dilemma of open EI strategy.     

ECONOMIC EXPERIMENTS,HYPOTHETICAL SURVEYS AND MARKET DATA STUDIES OF INSURANCE DEMAND AGAINST LOW‐PROBABILITY/HIGH‐IMPACT RISKS: A SYSTEMATIC REVIEW OF DESIGNS,THEORETICAL INSIGHTS AND DETERMINANTS OF DEMAND

This paper provides a systematic review of the literature on 80 experimental, hypothetical survey and market data studies of insurance demand against low‐probability/high‐impact risks. The objective of the review is to extract lessons from these studies and to outline an agenda for future research. We contrast the results of experimental and survey studies to findings from market data. We focus on experimental design methods, insurance characteristics, as well as results about theories, heuristics, behavioural biases and explanatory variables. Lessons for policymakers are drawn which can facilitate disaster preparedness.     

The growth paradox,sustainable development,and business strategy

Economic growth is a two-edged sword. Expanding economies and industries create wealth and employment, but global economic expansion is having unprecedented deleterious impacts on vital planetary systems. Despite this, the core strategic goal of all economies and many businesses continues to be the pursuit of ongoing economic growth. To resolve this paradox, a reconceptualization of firm-level growth is presented. I describe and discuss the organizational characteristics of the growth paradox and follow this with a metatheoretical review of economic, organizational, and ecological perspectives on growth. From this review, a typology of firm-level strategy is developed that radically reconceptualizes business growth as developmental activity primarily concerned with social–ecological flourishing. The features of this typology and its implications for business strategy are discussed according to three principles that emerged from the analysis: multidexterity, resilience thinking for design, and inclusive balance (embeddedness). Together, these strategy principles form the prerequisite management competencies needed for the development, implementation, and evaluation of sustainable business strategies. Transformative firm-level responses to the growth paradox are needed if sustaining forms of organizational growth are to be achieved and this paper presents a novel integrative framework for informing those strategies.     

国外金融生态最新文献综述:基于金融安全视角

对于金融生态,国外围绕金融危机与风险理论和实践进行分析。就目前而言,我国直接涉及金融生态的相关研究尚少。侧重通过其他领域相关的生态研究给我们以借鉴和启发,较为全面地介绍了国外金融生态及其相关理论的发展,并从直接、间接层面,对其研究现状分别进行了相应的综合与评述。     

Neoliberal Urbanism Redux?

Neoliberalization processes have been reshaping the landscapes of urban development for more than three decades, but their forms and consequences continue to evolve through an eclectic blend of failure and crisis, regulatory experimentation, and policy transfer across places, territories and scales. The proliferation of familiar neoliberal discourses and policy formulations in the aftermath of the 2007‐09 world financial crisis masks evidence of more deeply rooted transformations of policies, institutions and spaces that continue to combatively remake terrains of urban development. Accordingly, the critical intellectual project of deciphering the problematic of neoliberal urbanism must continue to evolve. This essay outlines some of the methodological and political challenges associated with (re)constructing a ′moving map′ of post‐crisis neoliberalization processes. We affirm a form of critical urban theory that adopts a restlessly antagonistic stance towards orthodox urban formations and their dominant ideologies, institutional arrangements and societal effects, tracking their endemic policy failures and crisis tendencies while at the same time demarcating potential terrains for heterodox, radical and/or insurgent theories and practices of emancipatory social change.     

高校图书馆危机管理之分级模式

高校图书馆危机管理的能力与成效直接关系到图书馆服务的质量及声誉,甚至关系到学校的整体形象。本文根据危机的强度与频度对高校图书馆的危机进行分级,并制定相应的预警和对策,为高校图书馆危机管理提供了一个全新的管理模式。     

Human resources planning on terrorism and crises in the Asia Pacific region: Cross‐national challenge,reconsideration, and proposition from western experiences

Since the 9/11 attacks in the United States (2001) and the two bombing events in Bali (2002, 2005), there has been renewed interest in emergency prevention policies in many organizations around the world. Functional terrorism preparedness requires changes in organizational thinking about external environmental threats. This shift in organizational thinking could be led by human resource departments. In order to achieve this goal, HR departments must redefine their role in terms of crisis management, and then four key planning measures for insuring postemergency operations should be observed. Using system dynamics (SD) methodology, this article examines the causes of states in which organizations operate after terrorist attacks. Based on the qualitative analytic approach of causal loops, this article explores the major challenges for HR development prompted by terrorism. Specifically, we focus on changes both to organizational communication and to workforce planning and succession. These activities are a tremendous challenge immediately following a disaster. A functional HR plan must include elements for proactive alertness, the ability to dispatch inventory, evacuation plans, and record preservation coupled with dissemination to employees and explicit employee training and cross‐cultural management. © 2008 Wiley Periodicals, Inc.     

浅谈后金融危机时代我国中小银行风险管理的问题和对策

进入2011年,金融危机肆意破坏经济的恶劣态势得到有效控制,金融危机后的全球经济开始出现复苏性增长,全球进入后金融危机时代,金融风险管理这一问题进入人们的视野。我国金融机构,特别是中小银行在此次危机中平稳度过的同时也暴露出一些风险管理方面的问题。文中首先对时间背景后金融危机时代进行解释,着重简述我国中小银行的发展,着重对中小银行和大型银行的差异作对比,最后对风险管理中出现的问题和对策进行阐述并得出结论。     

Education Crisis,Workforce Preparedness,and COVID‐19: Reflections and Recommendations

This article explores the impact of COVID‐19 on the higher education crisis and its implications for workforce preparedness and the future of work. It takes an integrative look at the evolving role of three primary actors involved in higher education: traditional universities, corporate universities, and educational technology companies, before, during, and after the pandemic. We conclude with recommendations for reframing discussions about higher education and workforce preparation to achieve a better balance between the workforce needs of the corporate world and those of society.     

战略环境分析和危机预警研究

本文根据企业经营方向、外部环境和内部实力三维向量与战略及其效果的关联分析,建立战略危机预警指标及预警系统,利用指标来衡量战略效果的变动幅度和变动趋势,从而捕捉战略危机发生的危险信号,并对可能发生的战略危机采取前馈的应对措施,化解危机,努力引导企业经营战略及其效果沿着对企业的正强化方向运行。     

Resilience and Justice

The term resilience has become the popular formulation for plans that deal with preparedness for disaster. It implies adaptation rather than returning to a pre‐crisis state. Its use has been extended from environmental events to social and economic crises. Its fault is that it obfuscates underlying conflict and the distribution of benefits resulting from policy choices. Development of resilience policies is cloaked in complicated models showing complexity and indeterminacy. Marxist analysis provides insights that cut through the failure of these models to assign agency, but it does not offer approaches short of revolution to assist present‐day planning. The conclusion of the essay presents strategies that can lead to greater justice in planning to cope with the impacts of devastating events.     

The impact of macro news and central bank communication on emerging European forex markets

We employ a two-stage empirical strategy to analyze the impact of macroeconomic news and central bank communication on the exchange rates of three Central and Eastern European (CEE) currencies against the euro. First we estimate the nominal equilibrium exchange rate based on a monetary model. Second, we employ a high-frequency GARCH model to estimate the effects of the news and communication along with the estimated exchange rate misalignment on the exchange rate as well as its volatility. The analysis is performed during the pre-crisis (2004–2007) and crisis (2008–2009) periods. CEE currencies react to macroeconomic news during both periods in an intuitive manner that corresponds to exchange rate-related theories. However, the responsiveness of the currencies to central bank verbal interventions becomes important only during the crisis period.     

Strategy rhetoric in city management: How the presumptions of classic strategic management live on?

This article focuses on the cultural and textual (re)production of the taken-for-granted assumptions of orthodox strategic management in city management practice. It is suggested that in order to make sense of the persistence of some of the classic difficulties of strategic management we need to study not only the strategy processes, but also the language practices of the dominant strategy models. By performing a detailed textual analysis of the rhetoric of one particular strategy document, the article shows how strong strategic leadership and hierarchical relationships persist. In addition the analysis illustrates how a paradox called `participation by command’ is produced by combining the classic top-down strategy rhetoric with the new strategy discourse focusing on empowerment, networks and cooperation.