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Articles 1 - 30 of 38
Full-Text Articles in Business
Is There Deadweight Loss In Holiday Rewards?, Kevin F. Hallock
Is There Deadweight Loss In Holiday Rewards?, Kevin F. Hallock
Economics Faculty Publications
An interesting and provocative study was conducted by Joel Waldfogel of the University of Minnesota some 20 years ago. He wrote "The Deadweight Loss of Christmas." Waldfogel was not only discussing Christmas but noted that the ideas could apply to other holidays with gift-giving rituals. The study noted that although gift giving is generally applauded by economists since it is a way to help the macro economy, there is another side to the story. A problem with gift giving (or non-monetary rewards) is that the gift giver often does not perfectly know the preferences of the person receiving the gift. …
Pay System Gender Neutrality, Kevin F. Hallock
Pay System Gender Neutrality, Kevin F. Hallock
Economics Faculty Publications
It was Francine Blau's "Equal Pay in the Office" (1977) that laid out some of the seminal research on gender differences in labor market outcomes. Blau and other pioneering researchers established decades ago that the gender pay gap (then around 40%) could not be ignored by academic economists. Many organizations are concerned with whether their individual pay systems are gender neutral, but it is not easy to test robustly a pay system's gender neutrality. To build such a test requires consideration of several issues, including control variables, occupational patterns, statistical specifications, and the often-overlooked difference between wage and salary income …
Does More Education Cause Higher Earnings?, Kevin F. Hallock
Does More Education Cause Higher Earnings?, Kevin F. Hallock
Economics Faculty Publications
College graduates earned roughly 67% more per hour than high school graduates in the US in 2010. Those with more education earn more because the world of work measures in some manner that they are simply more productive in dollars and cents terms. Some signaling theory advocates argue that if the return to education were due to learning, then the returns should be smoothly proportional to the time spent in school. However, researchers have detected a larger jump in earnings for those who complete the final year of college. Whether different schools return differently is an extension of the learning …
Nokia Siemens Networks: Just Doing Business – Or Supporting An Oppressive Regime?, Judith Schrempf-Stirling
Nokia Siemens Networks: Just Doing Business – Or Supporting An Oppressive Regime?, Judith Schrempf-Stirling
Management Faculty Publications
This case study examines the relevance of taking social and political factors into consideration when a corporation is making a key business decision. In September 2009, Simon Beresford-Wylie, the outgoing CEO of Nokia Siemens Networks (NSN), was reviewing the company’s achievements — while acknowledging the latest public criticism regarding NSN’s business relationship with the Iranian government. In the summer of 2009, NSN was accused of complicity in human rights violations linked to Iran’s presidential election. The company sold network infrastructure and software solutions to the Iranian government, which then used this technology to observe, block, and control domestic communications. Should …
Say On Pay And Compensation Design, Kevin F. Hallock
Say On Pay And Compensation Design, Kevin F. Hallock
Economics Faculty Publications
Say on pay is demanding far more time and energy than expected, and its full impact on the world won't be known for years. The 2011 proxy season was the first time publicly traded firms in the U.S. were required by law to solicit from their shareholders advisory yes or no votes on the pay package awarded to the CEO. In every industry, the median CEO received a raise (positive year-on-year change) in total CEO compensation. The mix of pay shifted some. For example, in the communications industry, the average share of total compensation paid in salary fell by 6.53 …
Linking Compensation And Job Losses During A Recession, Kevin F. Hallock
Linking Compensation And Job Losses During A Recession, Kevin F. Hallock
Economics Faculty Publications
For more than 60 years, no permanent Lincoln Electric employee has been laid off for lack of work. 2010 marked the 10th consecutive year year that the company increased its dividend and stock price gains have fairly consistently outperformed the S&P 500 during the past five years. For most organizations, when costs need to be cut, shedding some workers is part of the solution. Work Sharing Unemployment Insurance tries to mitigate the negative repercussions of layoffs. Under WSUI, workers are eligible for a prorated fraction of unemployment insurance benefits. Proponents of WSUI contend that hiring, firing, and retraining costs are …
Dr Pepper Snapple Group: Fighting To Prosper In A Highly Competitive Market, Joseph S. Harrison
Dr Pepper Snapple Group: Fighting To Prosper In A Highly Competitive Market, Joseph S. Harrison
Robins Case Network
Since its separation from the food giant Cadbury Schweppes, Dr Pepper Snapple Group has experienced successes such as the turnaround of the Snapple brand and growth in demand for some of its popular brands. However, the company is still a distant third in an incredibly competitive industry. How can the company achieve continued success in the shadows of Coca Cola and PepsiCo?
Does That Pay Practice Really Have Any Impact?, Kevin F. Hallock
Does That Pay Practice Really Have Any Impact?, Kevin F. Hallock
Economics Faculty Publications
Few organizations take the time to credibly study whether some pay, benefits, work-life balance or other total rewards practices have any impact on the organizations' bottom line or employee outcomes like productivity or turnover. It's too difficult to do well, organizations don't actually want to know the answer, and/or organizations don't have the know-how or time. One successfully executed, evidence-based study of a new compensation practice is Safelite AutoGlass. Edward Lazear compared the productivity change worker by worker, for only those employees present under both pay arrangements. Lazear found that not only did productivity increase after the change from hourly …
Pay Ratios And Pay Inequality, Kevin F. Hallock
Pay Ratios And Pay Inequality, Kevin F. Hallock
Economics Faculty Publications
Some argue that reporting the ratio of CEO pay to that of the median-compensated worker in the organization is useful since it highlights the sometimes large discrepancy between the pay of an average worker and that of corporate executives. One argument against reporting the ratio of CEO pay to median worker pay is that this is much more difficult to calculate in practice than in theory. The hourly earnings of workers at the bottom have been incredibly flat for the last generation. Only the top 5% have seen large gains over time. For CEOs, the gains are substantial. the multiple …
Identifying Resources For Going Global, Stephen Tallman
Identifying Resources For Going Global, Stephen Tallman
Management Faculty Publications
Business firms have been described as bundles of resources and capabilities (or assets and skills, or a variety of other terms indicating a combination of hard, or at least clearly identifiable, components and soft, or at least somewhat undefined, abilities and processes), bound together by ownership, contracts, common management, organizational culture, identity, and a variety of other processes. This chapter focuses on resources and capabilities, and considers how such component parts can enhance or discourage globalization, and how the firm's stock of resources and capabilities is altered by processes of globalization.
The Strategic Assembly Of Global Firms: A Micro-Structural Analysis Of Local Learning And Global Adaptation, Mitchell P. Koza, Stephen Tallman, Aylin Ataay
The Strategic Assembly Of Global Firms: A Micro-Structural Analysis Of Local Learning And Global Adaptation, Mitchell P. Koza, Stephen Tallman, Aylin Ataay
Management Faculty Publications
Strategic Assembly - the comprehensive and coordinated use of internal development, mergers, acquisitions, joint ventures, and alliances - is a novel approach to the construction and management of global firms. This paper describes the role and characteristics of strategic assembly in the construction and management of the Global Multi-Business Firm, an emerging form of global organization. We present a study of Group Renault and its relationship with two key players in the lucrative and emerging market for autos in Turkey, emphasizing the coevolutionary processes through which local players enter and dominate a local market and the global parent, utilizing local …
Mixed Agendas And Government Regulation Of Business: Can We Clean Up The Mess?, Tom Arnold, Jerry L. Stevens
Mixed Agendas And Government Regulation Of Business: Can We Clean Up The Mess?, Tom Arnold, Jerry L. Stevens
Finance Faculty Publications
The history of regulation in the U.S. economy shows a cumulative growth of government involvement in private enterprise that has helped business at times and has been at odds with business at other times. The wavering views on how much regulation is warranted change over time and cut across political and philosophical ideologies. For example, in the first two years of President Barack Obama's administration there was a push for new and large increases in regulation of healthcare and financial markets along with intervention into public markets with massive spending to bailout automakers and financial institutions.
Now, in the second …
Monopsony And Salary Suppression: The Case Of Major League Soccer In The United States, John Twomey, James Monks
Monopsony And Salary Suppression: The Case Of Major League Soccer In The United States, John Twomey, James Monks
Economics Faculty Publications
Top tier professional soccer in the United States is operated by Major League Soccer (MLS). The MLS was established and operates under a single entity structure, such that all players negotiate and sign contracts with the league rather than with individual teams. This monopsonistic structure was designed to eliminate competition for players across teams within the league and thus allow the league to suppress player salaries. This paper investigates how effective the MLS has been in achieving this goal and finds that the MLS devotes only about 25 percent of its revenues to player salaries, compared to 50 to 60 …
Pay Secrecy And Relative Pay, Kevin F. Hallock
Pay Secrecy And Relative Pay, Kevin F. Hallock
Economics Faculty Publications
In March 2008, the Sacramento Bee began publishing the salaries of all California state workers, including public universities. UC Berkeley professors took this information and used it to learn about pay secrecy, relative income, and how people feel and react to knowing what their co-workers earn. It turns out that there is a dramatic difference in the response to new information about wages of co-workers, depending on whether an individual has wage and salary pay above or below the median for his or her workgroup. For those who earn below the middle of their group, the new information about the …
Knowledge Accumulation And Dissemination In Mnes: A Practice-Based Framework, Stephen Tallman, Aya S. Chacar
Knowledge Accumulation And Dissemination In Mnes: A Practice-Based Framework, Stephen Tallman, Aya S. Chacar
Management Faculty Publications
Much has been written on the importance of knowledge accumulation and transfer within the network firm but two questions remain. First, what are the specifics of this process, particularly for high tacit content knowledge? Second, how can firms create a sustainable competitive advantage from knowledge acquired from outside the firm? We address the first question by proposing that the mechanisms of external knowledge capture and internal knowledge transfer can best be understood and studied not at the level of networked subsidiary firms, but at the micro-organizational level of Communities of Practice (CoPs). We then offer a model of the dynamics …
Motivating With Efficiency Wages And Delayed Payments, Kevin F. Hallock
Motivating With Efficiency Wages And Delayed Payments, Kevin F. Hallock
Economics Faculty Publications
In the delayed payment system, companies motivate workers to work hard year after year by paying them less than the value they create for the company early in the workers' tenure and more than the value they create for the company later in the workers' tenure. With efficiency wages, workers are essentially paid a wage that is higher than the next-best offer they could get. A paper by Alan Krueger found that at company-owned fast food restaurants, employee compensation is higher and the delayed payment profile is steeper than at franchised outlets. In a recent paper, Matthew Freedman and Renata …
Le Développement Durable Comme Mode De Prévention Des Risques Energétiques : Une Approche Par Les Capacités D’Absorption. Le Cas De La Voiture Electrique Chez Renault, Sylvaine Castellano, Adnane Maâlaoui, Judith Schrempf-Stirling
Le Développement Durable Comme Mode De Prévention Des Risques Energétiques : Une Approche Par Les Capacités D’Absorption. Le Cas De La Voiture Electrique Chez Renault, Sylvaine Castellano, Adnane Maâlaoui, Judith Schrempf-Stirling
Management Faculty Publications
Sustainability — a way to prevent energy-related risks — is the buzzword of the last decade. This trend demands radical rethinking on how society lives, consumes and produces. Herein, we focus on electric cars, which is the result of sustainable processes and initiatives in the car industry. The case of Renault illustrates how the firm based its sustainable strategy on its absorptive capacities.
The Relationship Between Company Size And Ceo Pay, Kevin F. Hallock
The Relationship Between Company Size And Ceo Pay, Kevin F. Hallock
Economics Faculty Publications
The link between the size of the company and the pay of the CEO is one that is nearly impossible to make go away. One measure of the company-size-to-CEO-pay relationship is called elasticity by economists. It turns out that we can estimate the CEO compensation elasticity with respect to firm revenue, and this number is around 0.3. That is, for a 1% increase in company size, CEO pay goes up by about one-third of 1%, or for a 10% increase in company size, CEO pay goes up by about 3%. The relationship between organization size and top executive pay in …
Stakeholders, Entrepreneurial Rent And Bounded Self-Interest, Douglas A. Bosse, Jeffrey S. Harrison
Stakeholders, Entrepreneurial Rent And Bounded Self-Interest, Douglas A. Bosse, Jeffrey S. Harrison
Management Faculty Publications
This paper examines how the change from an assumption of pure self-interest to an assumption of bounded self-interest alters basic propositions regarding the way entrepreneurs select, negotiate with and manage relationships with their initial set of stakeholders. Although a purely economic approach would focus on material cost as the sole consideration when conducting these activities, we argue that non-material factors such as reciprocity and fairness are potent forces during the initial resource acquisition process. We explain that non-material considerations are accounted for in negotiations with stakeholders and positive reciprocity is encouraged through openly sharing information with stakeholders about the value …
Stakeholder Theory In Strategic Management: A Retrospective, Jeffrey S. Harrison
Stakeholder Theory In Strategic Management: A Retrospective, Jeffrey S. Harrison
Management Faculty Publications
This chapter will provide a description of the personal journey of the author who, as a newly graduated Ph.D. in strategic management in 1985, embraced stakeholder theory. Perhaps one of the interesting aspects of this narrative is that the field of strategic management itself was in its infancy at the time of my graduation. So I have “grown up” in the strategy field while simultaneously observing and to some extent participating in the development of what we now call stakeholder theory. Over the past two and a half decades I have frequently found myself frustrated by my strategy colleagues’ lack …
Stakeholder Orientation, Managerial Discretion And Nexus Rents, Robert A. Phillips, Shawn L. Berman, Heather Elms, Mechael E. Johnson-Cramer
Stakeholder Orientation, Managerial Discretion And Nexus Rents, Robert A. Phillips, Shawn L. Berman, Heather Elms, Mechael E. Johnson-Cramer
Management Faculty Publications
A firm's orientation toward its stakeholders determines how it will use the discretion accorded to it by external and internal circumstances. The interaction between these two factors affects a firm's ability to create value in the short term and influences the level of discretion available to the firm in the long term. We argue that the interplay of discretion and orientation create a vicious (or virtuous) cycle, in which the firm either creates or destroys goodwill with stakeholders, thereby making it more or less likely that stakeholders will grant discretion in the future. This argument suggests an account of stakeholder …
The Disconnect Between Employer Costs And Employee Value, Kevin F. Hallock
The Disconnect Between Employer Costs And Employee Value, Kevin F. Hallock
Economics Faculty Publications
There is a tremendous disconnect between the cost of compensation to employers and the value employees place on that compensation. Companies pay a lot more for workers than workers see in their paychecks. The average worker in the US costs his/her employee $29.52 per hour. But only $20.50 of that appeared in the worker's paycheck as wage and salary. The other $8.96 is attributable to other employer costs that employees do not immediately see. Of the $8.96, $2.04 is for paid leave, $0.71 is for supplemental pay, $2.60 is for insurance, $1.31 is for retirement savings, and $2.30 is for …
When A Promotion Is Denied: The Effects Of Decision Stage On Perceptions Of Promotion And Price Fairness, Monika Kukar-Kinney, Lan Xia, Kent B. Monroe
When A Promotion Is Denied: The Effects Of Decision Stage On Perceptions Of Promotion And Price Fairness, Monika Kukar-Kinney, Lan Xia, Kent B. Monroe
Marketing Faculty Publications
Marketers frequently use promotions to enhance sales and increase consumers' perceptions of value. However, most promotions usually come with restrictions, such as time expiration, quantity or product model restriction, etc. In the present research, the effect of the stage in the purchase process when the consumer finds out about the restriction is investigated. The findings indicate that the later in the purchase process the consumer discovers the restriction, the greater is the perception that the effort invested into the purchase is wasted, consequently resulting in lower promotion and price fairness. This effect is mediated through the feeling of entitlement to …
Brand Creation Vs. Acquisition In Portfolio Expansion Strategy, Randle D. Raggio, Yana Damoiseau, William C. Black
Brand Creation Vs. Acquisition In Portfolio Expansion Strategy, Randle D. Raggio, Yana Damoiseau, William C. Black
Marketing Faculty Publications
Purpose – This paper seeks to address the following question: What causes firms to choose brand creation vs brand acquisition for brand portfolio expansion?
Design/methodology/approach – A multilevel interdisciplinary conceptual model is developed with nine factors at three levels of influence: the market, firm, and brand portfolio. Using 125 brand acquisitions and creations for 22 firms between 2001 and 2007, the model is tested using logistic regression to determine which factors significantly influence brand portfolio expansion strategy and whether they encourage acquisition or creation.
Findings – Significant factors were found at the market and firm levels, with competitive intensity of …
Har-Tru Sports: Serving Up Growth In 2011, Roger R. Schnorbus, Littleton M. Maxwell
Har-Tru Sports: Serving Up Growth In 2011, Roger R. Schnorbus, Littleton M. Maxwell
Robins School of Business White Paper Series, 1980-2022
Randy Futty, the General Manager of HAR-TRU Sports (HTS), a division of the Luck Companies set a deadline of mid August, 2011 to develop a five year strategic/growth plan for his business. In fiscal 2010, the division had achieved net sales of $10 million and Futty's objective was to grow the business to $15 million by fiscal 2015.
On the positive side, growth opportunities existed geographically in both the western U.S. and in global markets although it would be organizationally challenging to service such markets. Also, various new tennis accessory products and services were being developed by HTS to complement …
The Influence Of Irrelevant Information On Is Auditor Key Risk Factor Predictions, Daniel D. Selby
The Influence Of Irrelevant Information On Is Auditor Key Risk Factor Predictions, Daniel D. Selby
Accounting Faculty Publications
Can information systems (IS) auditors ignore irrelevant information when they assess key risk factors (KRFs)? Irrelevant information is information that is of little or no value to a specific task or predicted future outcome. When assessing a KRF, IS auditors sift through numerous pieces of information to target items that are relevant to understanding the KRF. Some items encountered by IS auditors may be relevant to understanding the KRF, while other items encountered may be irrelevant. IS auditors should ignore irrelevant information when they assess KRFs.
An example of irrelevant information that an IS auditor may encounter during a financial …
Putting Ratios Into A Firm Value Context For Entrepreneurs And Entrepreneurship Students, Tom Arnold
Putting Ratios Into A Firm Value Context For Entrepreneurs And Entrepreneurship Students, Tom Arnold
Finance Faculty Publications
Ratio analysis is generally presented as something that has to be calculated after completing other financial statements and is generally viewed, particularly by students, as busy-work with little value. This paper changes the context of ratio analysis in order to demonstrate how a focus on the information provided by ratios adds to the value of the firm. By dissecting the valuation of a publicly traded firm using a price to earnings ratio multiplier, value generating factors in the form of ratios, can be inferred for smaller nonpublicly traded ventures.
[Introduction To] Stakeholder Theory: Impact And Prospects, Robert A. Phillips
[Introduction To] Stakeholder Theory: Impact And Prospects, Robert A. Phillips
Bookshelf
Honoring the twenty-fifth anniversary of R. Edward Freeman’s Strategic Management: A Stakeholder Approach, one of the most influential books in the history of business strategy and ethics, this work assembles a collection of contributions from some of the most renowned and widely-cited scholars working in the area of stakeholder scholarship today.
Using Real World Applications To Policy And Everyday Life To Teach Money And Banking, Dean D. Croushore
Using Real World Applications To Policy And Everyday Life To Teach Money And Banking, Dean D. Croushore
Economics Faculty Publications
Teaching a course in money and banking can be simultaneously challenging and easy. It is challenging because teaching the course well often requires a fair amount of institutional knowledge, which an instructor may not have acquired in graduate school. However, it is easy because the course can be geared to the coverage of current events, so economic data releases and the state of the economy help the instructor develop a new course every semester and produce an interesting lecture every day.
There are many different ways to teach a course on money and banking. At most schools, the only prerequisite …
Offshoring, Outsourcing, And Strategy In The Global Firm, Stephen Tallman
Offshoring, Outsourcing, And Strategy In The Global Firm, Stephen Tallman
Management Faculty Publications
Offshore outsourcing of many of the activities of the firm has become a major issue of concern in welfare economics, politics, business management, and international business scholarship. From both practical and scholarly perspectives, though, we must recognize that this is not a new phenomenon, and that neither outsourcing nor offshoring is necessarily the problem that has been represented in the popular and scholarly press (Contractor et al., 2010: Engardio, 2006). The production of goods in locations other than those in which they are sold has been an established strategy of multinational firms for decades--as has the subset of situations in …