List of Top 25 Articles of Management Science

Oct-Dec 2013

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Title Authentic leadership development: Getting to the root of positive forms of leadership Abstract: This Special Issue is the result of the inaugural summit hosted by the Gallup Leadership Institute at the University of Nebraska-Lincoln in 2004 on Authentic Leadership Development (ALD). We describe in this introduction to the special issue current thinking in this emerging field of research as well as questions and concerns. We begin by considering some of the environmental and organizational forces that may have triggered interest in describing and studying authentic leadership and its development. We then provide an overview of its contents, including the diverse theoretical and methodological perspectives presented, followed by a discussion of alternative conceptual foundations and definitions for the constructs of authenticity, authentic leaders, authentic leadership, and authentic leadership development. A detailed description of the components of authentic leadership theory is provided next. The similarities and defining features of authentic leadership theory in comparison to transformational, charismatic, servant and spiritual leadership perspectives are subsequently examined. We conclude by discussing the status of authentic leadership theory with respect to its purpose, construct definitions, historical foundations, consideration of context, relational/processual focus, attention to levels of analysis and temporality, along with a discussion of promising directions for future research.

Business Models, Business Strategy and Innovation Abstract: Whenever a business enterprise is established, it either explicitly or implicitly employs a particular business model that describes the design or architecture of the value creation, delivery, and capture mechanisms it employs. The essence of a business model is in defining the manner by which the enterprise delivers value to customers, entices customers to pay for value, and converts those payments to profit. It thus reflects management's hypothesis about what customers want, how they want it, and how the enterprise can organize to best meet those needs, get paid for doing so, and make a profit. The purpose of this article is to understand the significance of business models and explore their connections with business strategy, innovation management, and economic theory.

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Cloud computing - The business perspective Abstract: The evolution of cloud computing over the past few years is potentially one of the major advances in the history of computing. However, if cloud computing is to achieve its potential, there needs to be a clear understanding of the various issues involved, both from the perspectives of the providers and the consumers of the technology. While a lot of research is currently taking place in the technology itself, there is an equally urgent need for understanding the business-related issues surrounding cloud computing. In this article, we identify the strengths, weaknesses, opportunities and threats for the cloud computing industry. We then identify the various issues that will affect the different stakeholders of cloud computing. We also issue a set of recommendations for the practitioners who will provide and manage this technology. For IS researchers, we outline the different areas of research that need attention so that we are in a position to advice the industry in the years to come. Finally, we outline some of the key issues facing governmental agencies who, due to the unique nature of the technology, will have to become intimately involved in the regulation of cloud computing.

Market efficiency, long-term returns, and behavioral finance1The comments of Brad Barber, David Hirshleifer, S.P. Kothari, Owen Lamont, Mark Mitchell, Hersh Shefrin, Robert Shiller, Rex Sinquefield, Richard Thaler, Theo Vermaelen, Robert Vishny, Ivo Welch Abstract Market efficiency survives the challenge from the literature on long-term return anomalies. Consistent with the market efficiency hypothesis that the anomalies are chance results, apparent overreaction to information is about as common as underreaction, and postevent continuation of pre-event abnormal returns is about as frequent as post-event reversal. Most important, consistent with the market efficiency prediction that apparent anomalies can be due to methodology, most long-term return anomalies tend to disappear with reasonable changes in technique.

Ethical leadership: A review and future directions Abstract: Our literature review focuses on the emerging construct of ethical leadership and compares this construct with related concepts that share a common concern for a moral dimension of leadership (e.g., spiritual, authentic, and transformational leadership). Drawing broadly from the intersection of the ethics and leadership literatures, we offer propositions about the antecedents and outcomes of ethical leadership. We also identify issues and questions to be addressed in the future and discuss their implications for research and practice. Our review indicates that ethical leadership remains largely unexplored, offering researchers opportunities for new discoveries

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and leaders opportunities to improve their effectiveness.

Event tourism: Definition, evolution, and research Abstract: This article reviews event tourism as both professional practice and a field of academic study. The origins and evolution of research on event tourism are pinpointed through both chronological and thematic literature reviews. A conceptual model of the core phenomenon and key themes in event tourism studies is provided as a framework for spurring theoretical advancement, identifying research gaps, and assisting professional practice. Conclusions are in two parts: a discussion of implications for the practice of event management and tourism, and implications are drawn for advancing theory in event tourism. Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature Abstract: Financial reporting and disclosure are potentially important means for management to communicate firm performance and governance to outside investors. We provide a framework for analyzing managers reporting and disclosure decisions in a capital markets setting, and identify key research questions. We then review current empirical research on disclosure regulation, information intermediaries, and the determinants and economic consequences of corporate disclosure. Our survey concludes that current research has generated a number of useful insights. We identify many fundamental questions that remain unanswered, and changes in the economic environment that raise new questions for research.

Investor protection and corporate governance Abstract: Recent research has documented large differences among countries in ownership concentration in publicly traded firms, in the breadth and depth of capital markets, in dividend policies, and in the access of firms to external finance. A common element to the explanations of these differences is how well investors, both shareholders and creditors, are protected by law from expropriation by the managers and controlling shareholders of firms. We describe the differences in laws and the effectiveness of their enforcement across countries, discuss the possible origins of these differences, summarize their consequences, and assess potential strategies of corporate governance reform. We argue that the legal approach is a more fruitful way to understand corporate governance and its reform than the conventional distinction between bank-centered and market-centered financial systems.

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Issues in Supply Chain Management - Don't Automate, Obliterate Abstract Successful supply chain management requires cross-functional integration and marketing must play a critical role. The challenge is to determine how to successfully accomplish this integration. We present a framework for supply chain management as well as questions for how it might be implemented and questions for future research. Case studies conducted at several companies and involving multiple members of supply chains are used to illustrate the concepts described.

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Prisoners and their dilemma Abstract We report insights into the behavior of prisoners in dilemma situations that so famously carry their name. We compare female inmates and students in a simultaneous and a sequential Prisoner's Dilemma. In the simultaneous Prisoner's Dilemma, the cooperation rate among inmates exceeds the rate of cooperating students. Relative to the simultaneous dilemma, cooperation among first-movers in the sequential Prisoner's Dilemma increases for students, but not for inmates. Students and inmates behave identically as second movers. Hence, we find a similar and significant fraction of inmates and students to hold social preferences.

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Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strategy Abstract The 21st century has brought both opportunities and challenges in our global, boundaryless world. Importantly, managers face a dynamic and interconnected international environment. As such, 21st century managers need to consider the many opportunities and threats that Web 2.0, social media, and creative consumers present and the resulting respective shifts in loci of activity, power, and value. To help managers understand this new dispensation, we propose five axioms: (1) social media are always a function of the technology, culture, and government of a particular country or context; (2) local events rarely remain local; (3) global events are likely to be (re)interpreted locally; (4) creative consumers actions and creations are also dependent on technology, culture, and government; and (5) technology is historically dependent. At the heart of these axioms is the managerial recommendation to continually stay up to date on technology, customers, and social media. To implement this managerial recommendation, marketers must truly engage customers, embrace technology, limit the power of bureaucracy, train and invest in their employees, and inform senior management about the opportunities of social media.

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Performance management and employee engagement Abstract: Many contemporary organizations are placing a greater emphasis on their performance management systems as a means of generating higher levels of job performance. We suggest that producing performance increments may be best achieved by orienting the performance management system to promote employee engagement. To this end, we describe a new approach to the performance management process that includes employee engagement and the key drivers of employee engagement at each stage. We present a model of engagement management that incorporates the main ideas of the paper and suggests a new perspective for thinking about how to foster and manage employee engagement to achieve high levels of job performance.

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Project management: cost, time and quality, two best guesses and a phenomenon, its time to accept other success criteria Abstract: This paper provides some thoughts about success criteria for ISIT project management. Cost, time and quality (The Iron Triangle), over the last 50 years have become inextricably linked with measuring the success of project management. This is perhaps not surprising, since over the same period those criteria are usually included in the description of project management. Time and costs are at best, only guesses, calculated at a time when least is known about the project. Quality is a phenomenon, it is an emergent property of peoples different attitudes and beliefs, which often change over the development life-cycle of a project. Why has project management been so reluctant to adopt other criteria in addition to the Iron Triangle, such as stakeholder benefits against which projects can be assessed? This paper proposes a new framework to consider success criteria, The Square Route.

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Role of social media in online travel information search Abstract: Social media are playing an increasingly important role as information sources for travelers. The goal of this study is to investigate the extent to which social media appear in search engine results in the context of travel-related searches. The study employed a research design that simulates a traveler's use of a search engine for travel planning by using a set of pre-defined keywords in combination with nine U.S. tourist destination names. The analysis of the search results showed that social media constitute a substantial part of the search results, indicating that search engines likely direct travelers to social media sites. This study confirms the growing importance of social

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media in the online tourism domain. It also provides evidence for challenges faced by traditional providers of travel-related information. Implications for tourism marketers in terms of online marketing strategies are discussed.

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Data mining techniques and applications - A decade review from 2000 to 2011 Abstract In order to determine how data mining techniques (DMT) and their applications have developed, during the past decade, this paper reviews data mining techniques and their applications and development, through a survey of literature and the classification of articles, from 2000 to 2011. Keyword indices and article abstracts were used to identify 216 articles concerning DMT applications, from 159 academic journals (retrieved from five online databases), this paper surveys and classifies DMT, with respect to the following three areas: knowledge types, analysis types, and architecture types, together with their applications in different research and practical domains. A discussion deals with the direction of any future developments in DMT methodologies and applications: (1) DMT is finding increasing applications in expertise orientation and the development of applications for DMT is a problem-oriented domain. (2) It is suggested that different social science methodologies, such as psychology, cognitive science and human behavior might implement DMT, as an alternative to the methodologies already on offer. (3) The ability to continually change and acquire new understanding is a driving force for the application of DMT and this will allow many new future applications.

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Social media: The new hybrid element of the promotion mix Abstract: The emergence of Internet-based social media has made it possible for one person to communicate with hundreds or even thousands of other people about products and the companies that provide them. Thus, the impact of consumer-to-consumer communications has been greatly magnified in the marketplace. This article argues that social media is a hybrid element of the promotion mix because in a traditional sense it enables companies to talk to their customers, while in a nontraditional sense it enables customers to talk directly to one another. The content, timing, and frequency of the social media-based conversations occurring between consumers are outside managers direct control. This stands in contrast to the traditional integrated marketing communications paradigm whereby a high degree of control is present. Therefore, managers must learn to shape consumer discussions in a manner that is consistent with the organization's mission and performance goals. Methods by which this can be accomplished are delineated herein. They include providing consumers with networking platforms, and using blogs, social media tools, and promotional tools to engage customers.

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Social media? Get serious! Understanding the functional building blocks of social media Abstract Traditionally, consumers used the Internet to simply expend content: they read it, they watched it, and they used it to buy products and services. Increasingly, however, consumers are utilizing platformssuch as content sharing sites, blogs, social networking, and wikisto create, modify, share, and discuss Internet content. This represents the social media phenomenon, which can now significantly impact a firm's reputation, sales, and even survival. Yet, many executives eschew or ignore this form of media because they don t understand what it is, the various forms it can take, and how to engage with it and learn. In response, we present a framework that defines social media by using seven functional building blocks: identity, conversations, sharing, presence, relationships, reputation, and groups. As different social media activities are defined by the extent to which they focus on some or all of these blocks, we explain the implications that each block can have for how firms should engage with social media. To conclude, we present a number of recommendations regarding how firms should develop strategies for monitoring, understanding, and responding to different social media activities.

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Do social media marketing activities enhance customer equity? An empirical study of luxury fashion brand Abstract In light of a growing interest in the use of social media marketing (SMM) among luxury fashion brands, this study set out to identify attributes of SMM activities and examine the relationships among those perceived activities, value equity, relationship equity, brand equity, customer equity, and purchase intention through a structural equation model. Five constructs of perceived SSM activities of luxury fashion brands are entertainment, interaction, trendiness, customization, and word of mouth. Their effects on value equity, relationship equity, and brand equity are significantly positive. For the relationship between customer equity drivers and customer equity, brand equity has significant negative effect on customer equity while value equity and relationship equity show no significant effect. As for purchase intention, value equity and relationship equity had significant positive effects, while relationship equity had no significant influence. Finally, the relationship between purchase intention and customer equity has significance. The findings of this study can enable luxury brands to forecast the future purchasing behavior of their customers more accurately and provide a guide to managing their assets and marketing activities as well.

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Business Model Innovation: Opportunities and Barriers Companies commercialize new ideas and technologies through their business models. While companies may have extensive investments and processes for exploring new ideas and technologies, they often have little if any ability to innovate the business models through which these inputs will pass. This matters - the same idea or technology taken to market through two different business models will yield two different economic outcomes. So it makes good business sense for companies to develop the capability to innovate their business models. This paper explores the barriers to business model innovation, which previous academic research has identified as including conflicts with existing assets and business models, as well as cognition in understanding these barriers. Processes of experimentation and effectuation, and the successful leadership of organizational change must be brought to bear in order to overcome these barriers. Some examples of business model innovation are provided to underline its importance, in hopes of inspiring managers and academics to take these challenges on.

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The theory of planned behavior Abstract Research dealing with various aspects of the theory of planned behavior (Ajzen, 1985 and Ajzen, 1987) is reviewed, and some unresolved issues are discussed. In broad terms, the theory is found to be well supported by empirical evidence. Intentions to perform behaviors of different kinds can be predicted with high accuracy from attitudes toward the behavior, subjective norms, and perceived behavioral control; and these intentions, together with perceptions of behavioral control, account for considerable variance in actual behavior. Attitudes, subjective norms, and perceived behavioral control are shown to be related to appropriate sets of salient behavioral, normative, and control beliefs about the behavior, but the exact nature of these relations is still uncertain. Expectancy-value formulations are found to be only partly successful in dealing with these relations. Optimal rescaling of expectancy and value measures is offered as a means of dealing with measurement limitations. Finally, inclusion of past behavior in the prediction equation is shown to provide a means of testing the theory's sufficiency, another issue that remains unresolved. The limited available evidence concerning this question shows that the theory is predicting behavior quite well in comparison to the ceiling imposed by behavioral reliability. Leadership competencies for implementing planned organizational change Abstract This paper bridges the leadership and organizational change literatures by exploring the relationship between managers' leadership competencies (namely, their effectiveness at person-oriented and task-oriented behaviors) and the likelihood that they will emphasize the different activities involved in planned organizational change implementation (namely, communicating the need for change,

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mobilizing others to support the change, and evaluating the change implementation). We examine this relationship using data from 89 clinical managers at the United Kingdom National Health Service who implemented change projects between 2003 and 2004. Our results lend overall support to the proposed theory. This finding suggests that treating planned organizational change as a generic phenomenon might mask important idiosyncrasies associated both with the different activities involved in the change implementation process and with the unique functions that leadership competencies might play in the execution of these activities.

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More than words: Social networks' text mining for consumer brand sentiments Abstract Blogs and social networks have recently become a valuable resource for mining sentiments in fields as diverse as customer relationship management, public opinion tracking and text filtering. In fact knowledge obtained from social networks such as Twitter and Facebook has been shown to be extremely valuable to marketing research companies, public opinion organizations and other text mining entities. However, Web texts have been classified as noisy as they represent considerable problems both at the lexical and the syntactic levels. In this research we used a random sample of 3516 tweets to evaluate consumers sentiment towards well-known brands such as Nokia, TMobile, IBM, KLM and DHL. We used an expert-predefined lexicon including around 6800 seed adjectives with known orientation to conduct the analysis. Our results indicate a generally positive consumer sentiment towards several famous brands. By using both a qualitative and quantitative methodology to analyze brands tweets, this study adds breadth and depth to the debate over attitudes towards cosmopolitan brands.

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Theory of the firm: Managerial behavior, agency costs and ownership structure Abstract This paper integrates elements from the theory of agency, the theory of property rights and the theory of finance to develop a theory of the ownership structure of the firm. We define the concept of agency costs, show its relationship to the separation and control issue, investigate the nature of the agency costs generated by the existence of debt and outside equity, demonstrate who bears these costs and why, and investigate the Pareto optimality of their existence. We also provide a new definition of the firm, and show how our analysis of the factors influencing the creation and issuance of debt and equity claims is a special case of the supply side of the completeness of markets problem. The directors of such [joint-stock] companies, however, being the managers rather of other people's money than of their own, it cannot well be expected, that they should watch over it with the same anxious vigilance with which the partners in a private copartnery frequently watch over their own. Like the stewards of a rich man, they are apt to consider attention to small matters as not for their master's honour, and very easily give themselves a dispensation from having it. Negligence and profusion, therefore, must always prevail, more or less, in the management of the affairs of such a company.

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Strategic human resource management: The evolution of the field Abstract This review takes an evolutionary and chronological perspective on the development of strategic human resource management (SHRM) literature. We divide this body of work into seven themes that reflect the directions and trends researchers have taken over approximately thirty years of research. During this time the field took shape, developed rich conceptual foundations, and matured into a domain that has substantial influence on research activities in HR and related management disciplines. We trace how the field has evolved to its current state, articulate many of the major findings and contributions, and discuss how we believe it will evolve in the future. This approach contributes to the field of SHRM by synthesizing work in this domain and by highlighting areas of research focus that have received perhaps enough attention, as well as areas of research focus that, while promising, have remained largely unexamined.

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Users of the world, unite! The challenges and opportunities of Social Media Abstract: The concept of Social Media is top of the agenda for many business executives today. Decision makers, as well as consultants, try to identify ways in which firms can make profitable use of applications such as Wikipedia, YouTube, Facebook, Second Life, and Twitter. Yet despite this interest, there seems to be very limited understanding of what the term Social Media exactly means; this article intends to provide some clarification. We begin by describing the concept of Social Media, and discuss how it differs from related concepts such as Web 2.0 and User Generated Content. Based on this definition, we then provide a classification of Social Media which groups applications currently subsumed under the generalized term into more specific categories by characteristic: collaborative projects, blogs, content communities, social networking sites, virtual game worlds, and virtual social worlds. Finally, we present 10 pieces of advice for companies which decide to utilize Social Media.

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