Business Commons^™

Risk And Recovery, John Austin, Chris Decker, Tom Doering, Ernie Gross, Bruce Johnson, Lisa Johnson, Ken Lemke, Franz Schwarz, Scott Strain, Eric Thompson, Keith Turner

Business in Nebraska

The crisis in the housing and financial sectors has led to a dramatic slowdown in U.S. economic growth. Fourth quarter GDP growth and job growth are expected to be anemic and the economy may fall into recession in 2008. Indeed, several of the dozen members of the Nebraska Business Forecast Council do believe that the U.S. economy will likely slip into recession during 2008. However, the overall consensus of the Council is that the U.S. economy will avoid a recession. Economic growth will be slow in the first three quarters of 2008 before recovering in late 2008 and 2009.

The …

The Future Of Leadership Development: The Importance Of Identity, Multi-Level Approaches, Self-Leadership, Physical Fitness, Shared Leadership, Networking, Creativity, Emotions, Spirituality And On-Boarding Processes, Craig L. Pearce

Department of Management: Faculty Publications

Leadership and, consequently, leadership development have taken on far greater import in recent times. As organizations have steadily progressed into the knowledge economy we can no longer rely on simple notions of top–down, command-and-control leadership, based on the idea that workers are merely interchangeable drones. Accordingly, in this special issue you will find seven articles that provide a glimpse over the horizon, so to speak, of leadership development: Together the authors provide a rich research roadmap and a practical set of options for leadership development professionals regarding the next important steps for leadership development, which will carry us well into …

Illuminating A Cross-Cultural Leadership Challenge: When Identity Groups Collide, Donna Chrobot-Mason, Marian N. Ruderman, Todd J. Weber, Patricia J. Ohlott, Maxine A. Dalton

Leadership Institute: Faculty Publications

When societal conflicts between social identity groups spill over into organizations, leaders face the formidable challenge of attempting to bridge differences and manage the conflict in order to accomplish work. After reviewing the literature on intergroup conflict, workplace diversity and social identity theory, we examine four potential leadership strategies for managing identity-based conflicts. The four leadership strategies are decategorization, recategorization, subcategorization and crosscutting. Examples drawn from an interview-based study are used to illustrate theoretical constructs found in the literature. We then consider each of these strategies in cross-cultural contexts and generate propositions to reflect differences in the effectiveness of the …

Tourists And Travelers Generate Dollars – And More: Results From A Survey Of Visitors To Western Nebraska, Randy Cantrell, Cheryl Burkhart-Kriesel

Business in Nebraska

According to statistics compiled by the Nebraska Division of Travel and Tourism (NDOTT), travelers spent over $3-billion in Nebraska in 2006, and that income supported over 42,000 Nebraska jobs and numerous new Nebraska businesses. In addition to these economic impacts, the potential benefits of tourism as a development strategy include contributions to the tax base, development of community facilities, increased pride in communities and cultures, expanded civic involvement, conservation of shared resources and infrastructure improvements.

Nebraska has the potential to expand its tourist economy. Pine and Gilmore (1999) have written of the emergence of an important "experience economy" in which …

Semester Project For Engineering Management, Paul Savory

Industrial and Management Systems Engineering: Instructional Materials

This is the semester-project for my IMSE 405/805 course on Engineering Management at the University of Nebraska-Lincoln. This team-based project required students to develop an operational plan (facility layout, required staffing, company operating policies, company benefits program) for a specified product.

An Empirical Examination Of Jump Risk In U.S. Equity And Bond Markets, Lee M. Durham, Geoffrey C. Friesen

Department of Finance: Faculty Publications

ABSTRACT
Actuaries manage risk, and asset price volatility is the most fundamental parameter in models of risk management. This study utilizes recent advances in econometric theory to decompose total asset price volatility into a smooth, continuous component and a discrete (jump) component. We analyze a data set that consists of high-frequency tick-by-tick data for all stocks in the S&P 100 Index, as well as similar futures contract data on three U.S. equity indexes and three U.S. Treasury securities during the period 1999–2005. We find that discrete jumps contribute between 15% and 25% of total asset risk for all equity index …

Positive Organizational Behavior In The Workplace: The Impact Of Hope, Optimism, And Resilience, Carolyn M. Youssef, Fred Luthans

Department of Management: Faculty Publications

Drawing from the foundation of positive psychology and the recently emerging positive organizational behavior, two studies (N = 1,032 and N = 232) test hypotheses on the impact that the selected positive psychological resource capacities of hope, optimism, and resilience have on desired work-related employee outcomes. These outcomes include performance (self-reported in Study 1 and organizational performance appraisals in Study 2), job satisfaction, work happiness, and organizational commitment. The findings generally support that employees’ positive psychological resource capacities relate to, and contribute unique variance to, the outcomes. However, hope, and, to a lesser extent, optimism and resilience, do differentially contribute …

Bureau Of Business Research 2006-07 Annual Report, Eric Thompson

Bureau of Business Research Publications

The Bureau of Business Research (BBR) is pleased to publish its second annual report. The annual report is one of the important ways in which the Bureau fulfills its mission to monitor and analyze the Nebraska economy. The 2006-07 Annual Report contains articles that address many of the major economic trends and policy issues facing the state.

In publishing this report, we draw on expertise from the College of Business Administration at the University of Nebraska–Lincoln, the University of Nebraska Rural Initiative, Creighton University, the University of Nebraska at Omaha, the UNL Panhandle Research and Extension Center, and the Nebraska …

Mutual Fund Flows And Investor Returns: An Empirical Examination Of Fund Investor Timing Ability, Geoffrey C. Friesen, Travis R. A. Sapp

College of Business: Faculty Publications

We examine the timing ability of mutual fund investors using cash flow data at the individual fund level. Over 1991–2004, equity fund investor timing decisions reduce fund investor average returns by 1.56% annually. Underperformance due to poor timing is greater in load funds and funds with relatively large risk-adjusted returns. In particular, the magnitude of investor underperformance due to poor timing largely offsets the risk-adjusted alpha gains offered by good-performing funds. Investors in both actively managed funds and index funds exhibit poor investment timing. We demonstrate that our empirical results are consistent with investor return-chasing behavior.

An Examination Of Interracial Contact: The Influence Of Cross-Race Interpersonal Efficacy And Affect Regulation, Gwendolyn Combs, Jakari Griffith

Department of Management: Faculty Publications

The ability of employees to interact cooperatively and collaboratively is the fulcrum of competitive advantage for organizations operating in pluralistic environments. Contact theory suggests several conditions under which effective interpersonal relationships across racial, ethnic, and cultural groups may occur: Research examining the contact hypothesis has been mixed. The explanation of this inconsistency in the research generally centers on procedural rather than cognitive aspects of the interactions. This article discusses the contact hypothesis with respect to social cognitive functioning of interaction participants. We propose that positive outcomes from application of the contact hypothesis may be influenced by the individual employees’ level …

Predicting The Counterproductive Employee In A Child-To-Adult Prospective Study, Brent W. Roberts, Peter D. Harms, Avshalom Caspi, Terri E. Moffitt

Department of Management: Faculty Publications

Abstract The present research tested the relations between a battery of background factors and counterproductive work behaviors in a 23-year longitudinal study of young adults (N = 930). Background information, such as diagnosed adolescent conduct disorder, criminal conviction records, intelligence, and personality traits, was assessed before participants entered the labor force. These background factors were combined with work conditions at age 26 to predict counterproductive work behaviors at age 26. The results showed that people diagnosed with childhood conduct disorder were more prone to commit counterproductive work behaviors in young adulthood and that these associations were partially mediated by …

Introduction To Leadership Quarterly Special Issue On Leadership And Complexity, Russ Marion, Mary Uhl-Bien

Leadership Institute: Faculty Publications

Eric Bonabeau & Christopher Meyer (2001) have devised a simple “cocktail party” game that they use to introduce complexity dynamics. Imagine a party in which everybody present is instructed to follow a simple rule: Silently select two people at random, A and B, and position yourself so that A is always between you and B. Under these conditions, the party-goers will wander around the room, forming small, transient groups and meeting a number of people. Then halfway through the party the rule changes: Instead of positioning A between yourself and B, position yourself in the middle between A and B. …

The Role Of Leadership In Emergent, Self-Organization, Donde Ashmos Plowman, Stephanie Solansky, Tammy E. Beck, Lakami Baker, Mukta Kulkarni, Deandra Villarreal Travis

Department of Management: Faculty Publications

As complex systems, organizations exist far from equilibrium where the ongoing interaction of system components leads to emergent and self-organizing behavior. What, then, is the role of leadership in systems where change often emerges in unexpected ways? In this paper, we build on the work of Marion and Uhl-Bien who suggest that in complex systems leaders enable rather than control the future. While traditional views of leadership focus on the leader’s responsibility for determining and directing the future through heavy reliance on control mechanisms, we offer empirical support for a different view of leadership based on a complexity perspective of …

A Soft Landing And A Long Layover, John Austin, Chris Decker, Tom Doering, Ernie Goss, Philip Baker, Bruce Johnson, Lisa Johnson, Ken Lemke, Franz Schwarz, Scott Strain, Eric Thompson

Business in Nebraska

The U.S. economy achieved a soft landing in 2006. This was a desirable outcome. The economy needed a break from its rapid, and potentially inflationary, growth in 2004 and 2005, before taking off again. But, that new flight has been delayed. The aggregate economy has remained mired in slow growth in the first half of 2007. Pockets of the economy, such as the labor market, have been strong, but a weak housing sector has limited overall growth. Further, signs point to one or two more quarters of weaker growth, before the economy is able to take off again.

This outcome …

The Economic Impact Of The Nebraska Early Care And Education Industry, Eric Thompson, Mary Mcgarvey, Matthew Cushing, Randolph Cantrell, Seth Freudenburg, Travis Heller

Bureau of Business Research Publications

The early care and education industry has both current and long-term economic consequences for the Nebraska economy. The long-term impact is to help to educate and develop children into productive and higher earning adults. This impact is well understood. As stated by Nobel Prize winning economist James Heckman, “Early advantages cumulate; so do early disadvantages… redirecting additional funds toward the early years, before the start of traditional schooling, is a sound investment in the productivity and safety of our society” (Heckman and Masterov, 2005).

In addition to these long-term impacts, the early care and education industry also has current impacts …

Emerging Positive Organizational Behavior, Fred Luthans, Carolyn M. Youssef

Leadership Institute: Faculty Publications

Although the value of positivity has been assumed over the years, only recently has it become a major focus area for theory building, research, and application in psychology and now organizational behavior. This review article examines, in turn, selected representative positive traits (Big Five personality, core self-evaluations, and character strengths and virtues), positive state-like psychological resource capacities (efficacy, hope, optimism, resiliency, and psychological capital), positive organizations (drawn from positive organization scholarship), and positive behaviors (organizational citizenship and courageous principled action). This review concludes with recommendations for future research and effective application.

Using The Social Fabric Matrix To Analyze Institutional Rules Relative To Adequacy In Education Funding, Jerry L. Hoffman, F. Gregory Hayden

College of Business: Faculty Publications

This article explains findings of part of a research project that uses the social fabric matrix (SFM) (Hayden 2006, 73-143) to analyze Nebraska’s State education finance system with regard to adequacy and rules. The emphasis is about how to approach such a problem and to demonstrate the use of mathematical expressions to articulate social beliefs as instituted through rules, regulations, and requirements.

Concern for equity through equalization criteria has a long history in the analysis of state education systems. Concern for adequacy has become important in analysis recently, although court rulings indicate that it should have been of analytical importance …

Shared Leadership Theory, Craig L. Pearce, Jay A. Conger, Edwin A. Locke

Department of Management: Faculty Publications

Edwin Locke contributed a chapter to the critique section of Craig Pearce and Jay Conger’s (2003a) edited book, Shared Leadership: Reframing the Hows and Whys of Leadership, published by Sage. In this letter exchange, they continue their dialogue on this important topic. They focus in particular on clarifying what each means by “shared leadership” and on what shared leadership can and should look like at the top of organizations.

Who Shall Lead? An Integrative Personality Approach To The Study Of The Antecedents Of Status In Informal Social Organizations, Peter D. Harms, Brent W. Roberts, Dustin Wood

Department of Management: Faculty Publications

The effects of personality traits, motives, and leadership identity claims on the attainment of status in informal, social organizations were assessed in several organizations using multiple indices of status. The power motive Hope for Power was predictive of holding executive offices. Extraversion and Conscientiousness predicted peer-ratings of social influence. Extraversion, Emotional Stability, and Dominance were related to subjective beliefs of personal power and influence. Seeing oneself as a leader mediated the effects of personality traits and motives on subjective sense of power and attaining social influence, but not achieving formal office. Together, these findings offer an integrated look at the …

The Growth Dividend: How Has It Been Allocated?, Eric Thompson

Bureau of Business Research Publications

A growing economy and population in Lincoln, Nebraska have generated an expanding tax base for the city. Growth has been especially rapid in the property tax base. As noted in a recent report by the UNL Bureau of Business Research (2005), the average new housing unit generates annual property taxes for the City of Lincoln substantially greater than does the average existing housing unit. This additional property value is referred to as the “growth dividend” in the Bureau of Business Research report. This growth dividend is available for a variety of uses, including capital outlays on infrastructure, tax relief, or …

Impact Of Information Technology Innovations On Resources And Services Of Management Institute Libraries In Mumbai: A Librarians’ Approach, Satish Kanamadi, B. D. Kumbar

E-JASL 1999-2009 (Volumes 1-10)

Abstract

Management libraries are facing a piquant situation and unforeseen challenges in this age of information technology. They are reeling under pressure to fulfill their obligation of meeting the diverse information needs of clientele. IT has brought in sweeping changes in the traditional way libraries are functioning. Libraries need to evaluate, measure the impact of information technology on them. This will equip them with the knowledge of turning this information Technology into a boon for improving their services. This paper is one such attempt with reference to management libraries affiliated to University of Mumbai, Mumbai City, India.

2007 Survey Of Summer Sessions Students At The University Of Nebraska-Lincoln, Paul Savory

Department of Industrial and Management Systems Engineering: Faculty Publications

During Summer 2007, UNL Summer Sessions (FlexEd) surveyed summer students to learn about their experience in taking a summer course(s). The survey results will offer confirmation of what we are doing well and will provide guidance on areas of improvement and better strategies for marketing UNL summer opportunities. A total of 227 students completed the survey. Fifteen summer classes were selected to complete a paper-based or electronic version of the survey. The classes were from three different summer sessions and used different delivery mechanisms (on-campus, studio, distance education).

Nebraska’S Micropolitan Statistical Areas: A Growing Piece Of A Shrinking Pie, Randolph Cantrell

Business in Nebraska

They have been called “urban islands in a shortgrass sea” (Popper and Popper, 1986) and “middle places” (Swanson, 2007). They are the small urban centers that dot the Great Plains and are home to an important share of the region’s non-metropolitan population and economic activity. Compared to the much larger metropolitan centers such as Omaha and Lincoln, they may appear to be minor players in the state’s social and economic landscape—but that would underestimate their role. Individually they anchor the regional “pillars of growth” identified by Thompson (Thompson et al., 2007), and collectively they play a determining role in the …

Being Ethical When The Boss Is Not, Mary Uhl-Bien, Melissa K. Carsten

Department of Management: Faculty Publications

A missing element in discussions of ethical leadership is: What happens to enforcement of ethics if it is the managers who are behaving unethically? In this article we address this question by describing a framework of upward ethical leadership. This framework expands conceptualizations of leadership beyond top-down models to a view that considers employees to be active participants in the leadership process. Upward ethical leadership is defined as leadership behavior displayed by individuals who take action to maintain ethical standards in the face of questionable moral behaviors by higher-ups. It is fostered when employees are encouraged to establish personal power …

Complexity Leadership Theory: Shifting Leadership From The Industrial Age To The Knowledge Era, Mary Uhl-Bien, Russ Marion, Bill Mckelvey

Leadership Institute: Faculty Publications

Leadership models of the last century have been products of top-down, bureaucratic paradigms. These models are eminently effective for an economy premised on physical production but are not well-suited for a more knowledge-oriented economy. Complexity science suggests a different paradigm for leadership—one that frames leadership as a complex interactive dynamic from which adaptive outcomes (e.g., learning, innovation, and adaptability) emerge. This article draws from complexity science to develop an overarching framework for the study of Complexity Leadership Theory, a leadership paradigm that focuses on enabling the learning, creative, and adaptive capacity of complex adaptive systems (CAS) within a context of …

Diversity Training: Analysis Of The Impact Of Self-Efficacy, Gwendolyn Combs, Fred Luthans

Department of Management: Faculty Publications

Although the importance of diversity in organizations is widely recognized, diversity training is under attack. Drawing from self-efficacy theory and research, we developed a questionnaire to measure one’s efficacy of successfully coping with widely recognized diversity initiatives. Then we conducted a study examining the effect of self-efficacy-based diversity training on the level of participant’s measured diversity self-efficacy (DSE) and the possible mediation of this DSE on intentions to pursue positive diversity-related initiatives. The field experimental design showed that training incorporating efficacy components significantly increased trainees’ (N = 276) measured DSE. Diversity training was also shown to be positively related to …

Economic Impact Analysis: The Potential Impact Of An Nhra Drag Racing Facility In Lancaster County, Eric Thompson, Seth Freudenburg, Travis Heller

Bureau of Business Research Publications

Entertainment venues are an important component to the quality of life in cities and states. Venues provide local residents with an opportunity to attend events that interest them without requiring them to travel to another city. This saves local residents money and allows residents to attend more events. Both factors increase the quality of life for local citizens, in much the same way that having more local shopping options raises the quality of life.

Lincoln’s need for new entertainment venues to improve the quality of life and to retain or attract younger residents has been a recent topic of discussion …

Positive Psychological Capital: Measurement And Relationship With Performance And Satisfaction, Fred Luthans, Bruce J. Avolio, James B. Avey, Steven M. Norman

Leadership Institute: Faculty Publications

Two studies were conducted to analyze how hope, resilience, optimism, and efficacy individually and as a composite higher-order factor predicted work performance and satisfaction. Results from Study 1 provided psychometric support for a new survey measure designed to assess each of these 4 facets, as well as a composite factor. Study 2 results indicated a significant positive relationship regarding the composite of these 4 facets with performance and satisfaction. Results from Study 2 also indicated that the composite factor may be a better predictor of performance and satisfaction than the 4 individual facets. Limitations and practical implications conclude the article.

When The Romance Is Over: Follower Perspectives Of Aversive Leadership, Michelle C. Bligh, Jeffrey C. Kohles, Craig L. Pearce, Joseph E. (Gene) Justin, John F. Stovall

Leadership Institute: Faculty Publications

While leadership is indisputably one of the most pervasive topics in our society, the vast majority of existing research has focused on leadership as a positive force. Taking a follower- centric approach to the study of leadership, we integrate research on the Romance of Leadership and the dark side of leadership by examining followers’ perceptions of aversive leadership in the context of public high schools. Although Meindl, Ehrlich, and Dukerich (1985) demonstrated that the Romance of Leadership also includes the overattribution of negative outcomes to leaders, subsequent research has failed to explore the implications of this potentially darker side of …

Emerging Near-Real Time Forage Monitoring Technology With Application To Large Herbivore Management In Mongolia, Dennis P. Sheehy, Jerry W. Stuth, Douglas E. Johnson, Jay Angerer, Douglas Tolleson

Erforschung biologischer Ressourcen der Mongolei / Exploration into the Biological Resources of Mongolia, ISSN 0440-1298

Large herbivore livestock and wildlife in Mongolia depend almost entirely for substance on forage standing crop produced each year on natural pastureland. Consequently, both livestock and wildlife are continuously subject to environmental risk, especially drought and severe winter storms, while livestock are also subject to financial risk. As consumption-based livestock production changes to commercialized livestock production, steps taken by the livestock herder to avert both environmental and financial risk to livestock can increase environmental risk to large wild herbivores. A realistic and workable pastureland and risk management system will be critical for conservation of large herbivore habitat. New technologies are …