Faculty Research, Service, & Economic Development - Faculty Research Archives
Faculty research archive page
Dr. Terry Porter had a paper accepted in Business & Society Review: Porter, T., Derry, R. (2011). Sustainability and business in a complex world. Business and Society Review, 117(1), 33-54.
Dr. Gloria Vollmers and Professor Wendy Coons had a paper accepted in the IMA Educational Case Journal (IECJ®) called “Budgeting for an Academic Department in a State University: Can you believe the numbers?”
Dr. John Mahon
“The BP Oil Disaster: Critical Insights and Lessons for Management and Organizational Reputation,” with
Jeanne M. Logsdon, in Jamie R. Hendry and Anne Barraquier (eds.), Proceedings of the 22nd Annual Meeting of the International Association for Business and Society, Bath, England, December, 2011: .*
This paper develops a two part model of the crucial roles that episodic memory and perceptual filters play in response to organizational crisis. We examine the cascading impacts of episodic memory, the types of filters that shape stakeholder
responses to crisis and subsequent impacts on reputation. A sound wave analogy is developed to understand the complexity of organizational crisis. The model is partially applied to the BP Deepwater Horizon oil rig disaster.
“Maine Voices: Mr. President, The Leadership Ball is in Your Court,” with Michael M. Hastings, 2011. Portland Press Herald, 8 December: A6.
“Corporate Social Performance Social Profiling: Using Multiple Stakeholder Perceptions to Assess a Corporate Reputation,” with Steven L. Wartick, International Journal of Public Affairs, Article first published online: 29 NOV 2011 | DOI:
10.1002/pa.433 ( http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1479-1854 ), published 2012, 12, (1):*
Corporate Social Performance is an elusive concept for managers and a difficult one to measure. Part of the challenge lies, as with the CSP-CFP literature, in the operationaliza-tion of the relationship between CSP and overall organizational
performance that provides insights for both researchers and practitioners. In this paper we look at a component of CSP—corporate reputation—to assess how different stakeholders measure and evaluate corporate reputation in an industry context and
provide a workable approach for managers trying to understand HOW to measure corporate reputations. We recognize that some will argue that CSP is part of CR or that CR is part of CSP. Our foci here is on the development of an initial approach to
measure-ment that can be utilized by managers to make decisions, used by external groups to assess CR, to allow for comparisons of firms within the same industry and to suggest new avenues of research. We look at five to eight companies in each of
nine leading industries across a three-year time span. We believe the results provide the basis for a deeper insight into more rigorous measurement and analysis of both CR and CSP using external, stakeholder generations of Corporate Reputation to
assess relative performance of firms in an industry over time.
Dr. Nory Jones and colleagues:
Developing a Model for Social Media in Project Management Communications, Herbert Remidez and Nory B. Jones, International Journal of Business and Social Science, Vol. 3 No. 3, January, 2012.
(Note: The journal is now indexed with and included in Cabell’s, Ulrich’s, EBSCO, DOAJ , ProQuest, Index Copernicus International, Gale and, JournalSeek . The journal is under the indexing process with ISI, ERIC, JSTOR, Econlit, and Scopus.)
Improving Business Performance with Web 2.0 Technologies, Matt Graham C and Nory Jones, Journal of Business Excellence, Vol. 2, No. 1, pp. 12-17, 2011.
Collaborative Systems and Internal Marketing Communications in Knowledge Transfer, Nory B. Jones, Omar J. Khan, special issue “Collaborative Technologies and Applications” International Journal of Collaborative Enterprise, Vol. 2, No. 1, pp. 57-74, 2011.
Harnessing Tacit Knowledge for Innovation Creation in MNEs: An Internal Social Network Approach, Omar Khan and Nory Jones, Journal of International Business and Entrepreneurship Development, Vol. 5, No.3 pp. 232 – 248, 2011
Professor C. Matt Graham and Dr. Nory Jones
Graham, C.M. & Jones, N. (2011). Cognitive Dissonance Theory and Distance Education: Faculty Perceptions on the Efficacy of and Resistance to Distance Education. International Journal of Business, Humanities and Technology. (Accepted November 8th, 2011)
Abstract: This paper explores current perceptions of distance education among faculty members in a state flagship university. We theorize that cognitive dissonance theory is at play in scenarios where faculty have had either a positive or negative experience with distance education and that experience determines faculty perceptions about distance education. A survey was distributed among all 600+ faculty members with a response rate of 115. Results were primarily consistent with prior studies showing a mix
of attitudes towards the quality of the distance education experience, and the requirement for administrative and technology support. Resistance stemming from workload issues, pedagogical issues and quality remain high in this survey.
Dr. Nic Erhardt:
Erhardt, N. (2011). Is it all about teamwork? Understanding processes in team-based knowledge work. Management Learning, 42(1) 87–112. Abstract: There is a general assumption in the team literature that more teamwork is always better, especially when knowledge integration is key. Yet, teamwork is not always required in knowledge work. By adopting a case-based approach using a total of 88 interviews from four project teams operating in different companies in Sweden and the USA, three knowledge processes are explored as to how they are leveraged in team-based knowledge work (TBKW). A framework of four types of TBKW is delineated: standardized, modular, integrative and collaborative, which are distinguished by the structure of the problem (ill- vs well-structured) faced by the team and knowledge composition (heterogeneous vs homogenous) within the team. Theoretical and practical implications are addressed and future research directions are discussed.
Dr. Terry Porter:
Porter, T. (2011). A complexity perspective on strategic process research. In Mazzola, P. and Kellermanns, F. (Eds), The Handbook of Research on Strategy Process: 350-368. Northampton, MA: Edward Elgar.
Dr. Terry Porter and Dr. Patti Miles will be presenting at the International Association for Business and Society conference in Bath, UK, from June 23-26. The title of their paper is ‘Walking the Talk in Corporate CSR: Do Frontpage and Backroom Indicators Tell the Same Story?
Professor Matt Graham:
Lecturer of Management Information Systems Matt Graham, recently developed an Intranet website for International Educators Group (IEG). through its peer reviewed journals. IEG is dedicated to both (i) help close the gap in education through the development of new strategies and utilization of information technology, and (ii) serve as a resource for the dissemination of ideas and research work for improving quality of education as well as help with the efficiency with which content is delivered.
The Intranet site that Professor Graham developed for IEG provides a secure logon for authors and researchers that would like to submit their articles to one of their peer reviewed journals. The intranet site has a second secure logon for IEG editors and reviewers to review submitted articles and make recommendations to accept or reject papers / articles submitted to the new site.
Dr. Terry Porter:
Sustainability, complexity and learning: insights from complex systems approaches. A Espinoza and T. Porter, The Learning Organization, Vol. 18 No. 1, 2011, pp. 54-72.
Abstract: The purpose of this research is to explore core contributions from two different approaches to complexity management in organisations aiming to improve their sustainability,: the Viable Systems Model (VSM), and the Complex Adaptive Systems (CAS). It is proposed to perform this by summarising the main insights each approach offers to understanding organisational transformations aiming to improve sustainability; and by presenting examples of applied research on each case and reflecting on the learning emerging from them.
Dr. Canabal and Dr. Manev:
Dr. Canabal and Dr. Manev’s paper, “The effect of venture internationalization on performance in different environments” was chosen as the best paper for the Entrepreneurship / Information Technology / Innovation track at the 2010 Southern Management Association Annual Meeting. Job well done!
Dr. Robert Strong:
Using the Price-to-Earnings Harmonic Mean to Improve Firm Valuation Estimates, with Rick Borgman and Pankaj Agrrawal. Forthcoming, Journal of Financial Education
The Failure of BRIC Equities as a Diversifying Agent for US Investors: A Note,with Vrishali Javeri. Investment Management and Financial Innovations, Volume 7, No. 2, 2010.
Chapters in books:
Technical Analysis, with Barry Sine. 2012 CFA Institute Curriculum Readings, forthcoming.
No Arbitrage Pricing, Companion to Financial Derivatives, pp. 335 350, John Wiley and Sons, 2010
Dr. Ivan Manev:
Manev, I. M. & Manolova, T. S. (2010). Entrepreneurship in transitional economies: Review and integration of two decades of research. Journal of Developmental Entrepreneurship, 15(1): 69-99.
This review maps research on entrepreneurship in transitional economies since the start of institutional reforms. Data came from 129 academic journal articles published between 1990 and 2009. 62 articles
reported research on macro (country) level, discussing the nature and speed of reform, credit constraints, assistance programs and the role of small business for economic development. 67 articles studied micro (firm) level factors, but only 14 of them employed data analytical methods to study what explains entrepreneurial success, suggesting a role for networking, industry experience and entrepreneurial orientation. We suggest more research on understanding the context of entrepreneurship, with a special focus on the informal institutional environment and industry structure. Also, future research can explore topics such as strategic agendas, opportunity identification and entrepreneurial cognition, which have been rare to date. We particularly emphasize the need for rigorous and replicable large-scale empirical studies.
Dr. John Mahon awarded the “Best Research Paper” at the Academy of Business Disciplines Conference in Ft. Myers FL, November, 2010!
Abstract: This paper will investigate why states have different excise taxes on beer. The brewing industry is unique in that the government has several conflicting roles and objectives in its regulation. State governments benefit from excise taxation revenues, thus they can choose to maximize funds generated by encouraging consumer purchases. However, state governments also serve as regulators of the industry, determining limits and penalties for those who use and occasionally abuse the product. This conflicting responsibility incentivizes states to minimize alcohol consumption. Finally, falling in between these extremes, state governments have a duty to stimulate economic growth, exhibited by states’ promotion of employment. This paper will investigate how these factors coexist and interact in states’ decisions in setting beer excise tax rates.
Dr. Anne Canabal:
Journal of World Business: Zander, L., Mockaitis, A.I., Harzing, A.W., Baldueza, J., Barner-Rasmussen, W., Barzantny, C., Canabal, A., Davila, A., Espejo, A., Ferreira, R., Giroud, A., Koester, K., Liang, Y.K., Morley, M., Myloni, B., Odusanya, J.O.T., O’Sullivan, S.L., Palaniappan, A.K., Prochno, P., Choudhury, S.R., Saka-Helmhout, A., Siengthai, S., Uzuncarsili Soydas, A., Viswat, L. 2010. Standardization and contextualization: A study of language and leadership across 17 countries. Journal of World Business, in press.
Abstract: With multinational corporations increasingly adopting English as a corporate language, the issue of language management and the pros and cons of language standardization have been widely debated in the literature. Our 17-country study considers whether the use of English as a common corporate language causes difficulties. We empirically examine whether managerial reactions to specific leadership scenario-based situations change as a consequence of the language they use. Our results show that the choice of language (native or English) does not matter much for the studied leadership scenarios. Instead, leadership decisions and reactions depend more on cultural and situational context.
Harzing, A.W., Baldueza, J., Barner-Rasmussen, W., Barzantny, C., Canabal, A., Davila, A., Espejo, A., Ferreira, R., Giroud, A., Koester, K., Liang, Y.K., Mockaitis, A., Morley, M.J., Myloni, B., Odusanya, J.O.T., O’Sullivan, S.L., Palaniappan, A.K., Prochno, P., Roy Choudhury, S.R., Saka, A., Siengthai, S., Viswat, L., Uzuncarsili Soydas, A., Zander, L. What’s in a name? Cross country differences in preferred ways of address for University teachers. AIB Insights, 10(3): 3-8.
Pankaj Agrrawal, Ph.D., Assistant Professor of Finance:
Agrrawal, P. and Clark, J. Determinants of ETF liquidity in the secondary market: A five factor ranking algorithm. Institutional Investor Journal (Fall 2009).
There are about 900 ETFs trading in the market, some of them possibly serve as a tool for issuing firms to gain market share. We suspect that many of the newer funds have low liquidity, asynchronous trading and wider bid-ask spreads. In this paper, we develop a five-factor liquidity scoring algorithm that allows us to rank ETFs from the most liquid to the least liquid. Thereafter we present the top and bottom fifty ETFs from this ranked liquidity list. We also find that there is a very active bond ETF market as evidenced by the fact that about 20% of the most liquid ETFs are bond-based. The factors that we find most indicative of liquidity are – a lower bid-ask spread, a higher market capitalization, lower expense ratio and higher average trading volume. While low liquidity ETFs may provide the investor with exposure to a very narrow market segment, the costs of trading, market price impact and ease of establishing or unwinding a sizable position must be carefully evaluated before initiating holdings in ETFs that exhibit low liquidity.
Agrrawal, P. and Waggle, D. The dispersion of ETF Betas on Financial Websites, Journal of Investing. (Fall 2009)
In this paper we document significant dispersion in the beta estimates of ETFs, as available on some leading financial websites. To the best of our information, this is the first study that systematically studies the dispersion of betas as seen on major finance websites. Almost 40 million visitors access these websites per month. We found that leading sites such as Yahoo! Finance, MSN Money, Morningstar, and Google Finance display betas that significantly misrepresent (not intentionally) actual levels of systematic risk. These errors could impact the portfolio design of an investor leading to unintended outcomes. Additionally, we were able to identify the primary reason for the significant variance in beta estimates. The explanation is surprising and not rooted in the traditionally discussed differences that are attributed to interval-window length mismatch or varying frequency of security returns. An implication of the findings is that there is no substitute to verification and cross-validation of financial information, even if it is supposedly coming from well established sources or so called ‘black-boxes’.
With Dr. Richard Borgman, Associate Professor of Finance
Agrrawal, P. and Borgman R. What is wrong with this picture? A problem with comparative return plots on finance websites and a bias against income generating assets. Journal of Behavioral Finance. (in press)
This paper brings to light and discusses a systemic issue in the calculation and display of relative return information as seen currently on some of the most prominent finance websites: income generating events such as dividends and interest are not included in relative return calculations and all comparative return graphics. The resulting ranking of the securities, based on such incomplete returns, is essentially meaningless from a total return perspective, yet they are being served to millions of investors every day. This could lead to the formation of a possible availability heuristic and an optical bias against fixed-income and other income generating assets. This problem has gone unnoticed for many years with no discussion of the topic either in the academic or practitioner press. The ready availability of such unclear or inaccurate information from sources generally perceived to be very credible can in this age of ‘do it yourself’ portfolio management have serious and damaging financial consequences to the unsuspecting investor. The paper also shows the effect of this return differential on the calculation of the asset correlation matrices and the subsequent effect on the resulting asset-weight vectors that are used to generate Markowitz style mean-variance portfolios. The visual discrepancies are then supported by the application of the exact Gibbons, Ross and Shanken  W-test for portfolio efficiency. The authors’ proposed correction, based on elementary finance, fixes the problem.
With Dr. Robert Strong and Dr. Richard Borgman
Agrrawal, P., Borgman, R., Clark, J. and Strong, R. Using the Price-to-Earnings Harmonic Mean to Improve Firm Valuation Estimates. Journal of Financial Education. (in press)
This paper reviews some well-known options to estimate the portfolio average of the price-earnings (P/E) multiple, emphasizing the logic and calculation of the harmonic mean. The harmonic mean is a useful but oftentimes unfamiliar calculation to many students and professionals. The simple arithmetic mean when applied to non-price normalized ratios such as the P/E is biased upwards and cannot be numerically justified, since it is based on equalized earnings. The paper advocates the use of the classic harmonic mean when the need is for an equal-dollar-weighted average and the weighted-average harmonic mean when the need is for an index style market-weighted average.
Dr. Anne Canabal, Assistant Professor of Management:
Harzing, A. W., et al. 2009. Rating versus ranking: What is the best way to reduce response and language bias in cross-national research? International Business Review. (in press)
We propose solutions to two recurring problems in cross-national research: response style differences and language bias. In order to do so, we conduct a methodological comparison of two different response formats—rating and ranking. For rating, we assess the effect of changing the commonly used 5-point Likert scales to 7-point Likert scales. For ranking, we evaluate the validity of presenting respondents with short scenarios for which they need to rank their top 3 solutions. Our results – based on two studies of 1965 undergraduate and 1714 MBA students in 16 different countries – confirm our hypotheses that both solutions reduce response and language bias, but show that ranking generally is a superior solution. These findings allow researchers to have greater confidence in the validity of crossnational differences if these response formats are used, instead of the more traditional 5-point Likert scales. In addition, our findings have several practical implications for multinational corporations, relating to issues such as selection interviews, performance appraisals, and cross-cultural training.
Dr. Harold Daniel, Associate Professor of Marketing and Director of the Center for Tourism Research and Outreach (CENTRO)
Daniel, H., Leahy, J., Daigle, J. & Shugrue, M. 2009. Local and visitor physical activity through media messages: A specialized benefits-based management application at Acadia National Park. Journal of Park and Recreation Administration 27(3): 59-77.
The National Parks System’s (NPS) abundance of trails and other outdoor recreation opportunities makes the NPS ideally suited to enable visitors’ attainment of healthy physical activity. Given the physiological and psychological benefits of leisure, their availability in outdoor settings and the efficiencies of market segmentation, media campaigns may be an effective means of influencing visitor physical activity behavior. However, research is first needed to identify visitor market segments based on importance of physical and mental benefits, to evaluate the relationships between visitor demographics and physical activity, and investigate the effects of media campaigns on benefits-based visitor market segments. We identified the perception of importance Acadia National Park visitors attached to a suite of mental and physical health benefits within the benefits-based management framework. Data were collected through an onsite questionnaire during July (pre-media) and August (post-media) of 2007. In addition to demographic information, the questionnaire included questions about use history, access transportation, recreation activities, group size, time on the trail, preferable trail attributes, social and personal constraints, and benefit importance. Relying on Driver’s (1983) Recreation Experience Preference (REP) scale, the questionnaire included a total of 20 benefit items: five items measured the perceptions of importance visitors had of physical health benefits, four items measured mental health benefits, four items measured social experience benefits, four items measured escape benefits, two items measured nature experience benefits, and one item measured creative benefits. During the pre-media time period, a total of 158 people were contacted and 131 questionnaires were completed. During the post-media time period, 229 people were contacted and 213 questionnaires were collected. Visitors could be segmented into four primary benefits-based market segments: Fitness Isolates, Trail Moderates, Casual Social Groups, and Trail Enthusiasts. These 60 market segments exhibited several key differences. The effects of the media campaign also had varied impacts on the four visitor market segments. Understanding benefit importance among different visitor segments can assist park planners and managers in providing more desirable experience opportunities. In addition, an evaluation of visitor segments identified potential relationships with physical activity behavior. The results are helpful in identifying how knowledge, attitudes, and behavior can help guide future media campaigns. Park planners and managers can use the results to anticipate how different visitor market segments may respond to other media campaigns. The outcomes of the research can include better communication with visitors, and improved benefit opportunity provision.
Dr. Niclas L. Erhardt, Assistant Professor of Human Resource Management
Erhardt, N. L., Martin-Rios, C. and Way, S. A. From bureaucratic forms towards team-based knowledge work systems: implications for human resource management’, Int. Journal of Collaborative Enterprise (in press)
Teamwork as knowledge integrating mechanisms is critical for firms pursuing a knowledge driven strategy (Grant, 1996b); yet, theoretical and empirical research regarding how to manage knowledge processes in team settings remains limited in the strategic human resource management (SHRM) field. This paper builds on the knowledge work and SHRM literatures. We outline key knowledge processes including knowledge sharing, knowledge creation and team learning. A team-based HRM system is demarcated that aims to foster knowledge work. Four key HR practices are discussed including knowledge staffing, knowledge-based performance management, fostering ofshared leadership and trust building. The paper identifies key challenges for HRM and addresses areas for future research.
Dr. John F. Mahon, Professor of Management and John M. Murphy Chair of International
Business Policy and Strategy
“The Determinants of Remittances in Latin America and the Caribbean” by Richard A. McGowan, Boston College and John F. Mahon, University of Maine
Remittances are money transfers by migrants to their home countries. In recent years, remittances have played an increasingly significant role in the growth of many developing countries, particularly those in Latin American and the Caribbean. The increase in flows around the world has made the study of their determinants and socio-economic consequences important for studying a wide variety of issues. Across the United States, around six million immigrants from Latin America now send money to their families back home on a regular basis.
Remittances are largely thought to be beneficial to a country’s growth, but other work suggests that they could create dependency and ultimately harm the development of the nation in the future. Examining the forces behind remittance flows can help us understand this new phenomenon and shed some light on their positive and negative effects.
This paper will examine the macroeconomic determinants of worker’s remittances in El Salvador, the Dominican Republic, Guatemala, and Mexico. These four countries are the focus of this paper because they have the most readily available data. They are also four of the largest receivers of remittances from the United States. Economic conditions in both the home and host country will be considered. Host country (United States) variables to be considered will include building permits, farm employment, personal income, and the Hispanic unemployment rate. In addition, we will examine the exchange rate (foreign currency/U.S. dollar), an interest rate differential, and an inflation differential. The results will show that remittances respond to changes in the macroeconomic conditions of both countries. These results have important policy implications and are valuable information for countries receiving remittances, especially for those countries that receive a particularly large inflow of remittances.
Presented at the Academy of Business Disciplines Annual Meetings, November, 2008, Ft. Myers FL. Winner of the award for Best Research Paper.
“Corporate Social Responsibility in Professional Sports: An Analysis of the NBA, NFL, and MLB” by Richard A. McGowan, S. J., Boston College and John F. Mahon, University of Maine
Corporate Social Responsibility (CSR) is an area of organizational study with the potential to dramatically change lives and improve communities across the globe. CSR is a topic with extensive research in regards to traditional corporations; yet, little has been conducted in relation to the professional sports industry. Although most researchers and professionals have accepted CSR as a necessary component in evaluating a firm’s performance, there is a great deal of variation in how it should be applied and by whom. Professional sports franchises are particularly interesting, because unlike most corporations, their financial success depends almost entirely on community support for the team.
This paper employs a mixed-methods approach for examining CSR through the lens of the professional sports industry. The study explores how three professional sports leagues, the National Basketball Association (NBA), the National Football Association (NFL), and Major League Baseball (MLB), engage in CSR activities and evaluates the factors that influence their involvement. Quantitative statistical analysis is utilized and qualitative interviews, polls, and surveys are the basis for the conclusions drawn. Some of the hypotheses that are tested include:
Main Research Question/Focus: How do sports franchises view/define CSR?
a) Teams with higher revenues/in larger markets will spend more on CSR
b) Teams engage in CSR for:
i) Improving corporate image
ii) Player recruitment
iii) Expanding customer base/create new market
iv) Fan Development
v) Retaining executives and employees
c) Is there a statistically significant difference in the level of CSR activities between leagues?
d) Is there a relationship between team performance and the level of CSR activities?
e) Why does the NBA engage in CSR? What is their rationale?
f) To what extent does the NBA participate in CSR?
g) Has CSR had an impact on the NBA and its teams and players?
Forthcoming, Academy of Business Disciplines Journal (Cabell’s 11 – 20% acceptance rate)
Dr. Ivan Manev, Dean of the College of Business and Associate Professor of Management
Elenkov, D. S., & Manev, I. M. (2009). Senior expatriate leadership’s effects on innovation and the role of cultural intelligence. Journal of World Business, 44(4): 357-369.
We propose that senior expatriates’ visionary–transformational leadership influences the rate of innovation adoption in the organizations or units they head, but cultural intelligence moderates this relationship. Our hypotheses were tested with data from 153 senior expatriate managers and 695 subordinates from companies in all 27 countries of the European Union. We found a direct influence of senior expatriates’ visionary – transformational leadership on the rate of innovation adoption. Cultural intelligence moderates the effect of senior expatriates’ leadership on organizational innovation, but not on product-market innovation. Implications for academic research and business practice are discussed.
Manolova, T. S., Manev, I. M., & Gyoshev, B. S. (2010). In good company? The role of personal and inter-firm networks for new venture internationalization in a transition economy. Journal of World Business, forthcoming in 45(3).
Although personal and inter-firm networks are critical for the survival and growth of entrepreneurial ventures in transition economies, their role in new-venture internationalization has been understudied. Exploring the internationalization of entrepreneurial ventures (n = 623) in Bulgaria, we find that domestic personal networks have a positive effect on internationalization. Firm age negatively moderates the effect of inter-firm networks: the earlier the new venture engages in inter-firm collaboration, the higher the degree of its internationalization. Internationalization is positively associated with new venture size and varies by industry. Implications for managerial practice and public policy are discussed.
Dr. Terry Porter, Assistant Professor of Management
Córdoba, J., Porter, T. 2009. Education in sustainability through systems thinking. In J. Stoner, Wankel, C. (Ed.), Management Education for Global Sustainability: 139-158. Charlotte, NC: Information Age Publishing.
In the twenty-first century, the world has become a global entity which needs to be protected and looked after. In this global arena, profit and not-forprofit organizations need to attend to a variety of demands. Their governments encourage them to be socially responsible and sustainable at the same time. Their employees demand better working conditions, and their customers want products and services of quality. The interactions between organizations and their environments gain special attention when we look at how organizations can address these and other demands. Systems thinking is an evolving discipline that can help management educators and students explore relations between organizations and the natural environment (Midgley, 2000) and address issues of sustainability (Senge, Aleiner, Roberts, Ross, & Smith, 1994; Stead & Stead, 2004). Systems thinking can also help students bring seemingly disparate issues together and better understand the impacts of any action on a variety of domains (Reason, 2007).
This chapter draws on key contributions of systems thinkers and highlights some differences between three different notions and uses of systems, with particular attention to their pedagogical applications in business education. The three different approaches to systems thinking have differing cultural overtones that can influence the insights they offer. The implications of these overtones are discussed as the chapter examines the three systems schools in a holistic and systematic fashion: focusing on theory, research, and practice; and, most importantly, drawing implications for learning and teaching practice.
Dr. Robert Strong, Professor of Finance
“No Arbitrage Pricing” on pages 335 – 350 of the recently published reference volume Financial Derivatives, Robert Kolb and James Overdahl, editors, John Wiley, 2010. This deals with the underlying logic that causes stock options to sell for the price they do. I show the counter-intuitive fact that the value of an option is independent of the expected return on the underlying asset. That is, bulls and bears both agree on the equilibrium value of the option, regardless of their opinion of the future direction of the stock price. If the option sells for anything other than the equilibrium price it is possible to lock in an arbitrage profit.
Dr. Gloria Vollmers, Associate Professor of Accounting
Vollmers, G. 2009. Accounting and control in the Persepolis fortification tablets. Accounting Historians Journal, 36(2).
The bookkeeping records collected and retained by accountants of the Persian Empire centered at Persepolis from 509-494 B.C. are examined in this paper. A powerful bureaucracy exercised control over foodstuffs to supply an immense number of royal and state personnel and workers with their ration needs. A sophisticated accounting system facilitated this control, making visible not only the quantities of food assets distributed but also the locations and individuals responsible for these distributions.
Dr. Pankaj Agrrawal, Assistant Professor of Finance
Agrrawal, P. 2009. An automation algorithm for harvesting capital market information from the Web, Managerial Finance, 35(5): 427-438.
The purpose of this paper is to develop an algorithm to harvest user specified information on finance portals and compile it into machine-readable datasets for quantitative analysis. It applies the Visual Basic macro language in Microsoft Excel to develop code that is not constrained by the single-query function of Excel. The core of the algorithm is built around the splitting of the URL connector line and the placement of a continuously updating variable into which are looped as many tickers as there are in the input list. The output is then written to non-overlapping cells.
Numerical information placed on major finance websites can be harvested into structured machine-readable datasets by applying this algorithm. The algorithm extends user accessibility to websites that do not provide the facility of simultaneous downloading of information on multiple stock tickers. Furthermore, the procedure automates the downloading of multiple pieces of information (fields) and entire tables per ticker (record).
Dr. Scott Anchors, Lecturer of Management
Trask, K.M., Rice, R. W., Anchors, S. & Lilieholm, R. J. 2008. Management styles of lumber mill managers in the northern United States. Forrest Products Journal, 59(3): 29-34.
The management styles of chief executives largely determine how firms react to a myriad of challenges and opportunities that arise in the marketplace. The management style of a chief executive can influence a firm’s ability to successfully compete in an increasingly globalized world. To better understand management styles and practices, a survey of chief executives at 32 sawmills operating in the northern United States was conducted. Five management styles were synthesized from the literature—autocratic, bureaucratic, authoritarian, democratic, and participative. The frequency with which these management styles were used by chief executives was based on their responses to a series of questions related to five key areas of management. Three-quarters of the managers surveyed used a combination of between two and four management styles and just 25 percent exhibited a single style. Management styles were found to be largely independent of demographic profiles and mill characteristics such as product type and mill capacity.
In August, the Association of Psychological Type International awarded the prestigious Gordon Lawrence Educational Achievement Award to Dr. Scott Anchors. He received it for outstanding contributions to promoting the constructive use of psychological type (Jung’s theory of Psychological Type) through his publications, consulting, teaching, advising and research.
Dr. Anne Canabal, Assistant Professor of Management
Canabal, A., & White, G. O., III. 2008. Entry mode research: Past and future, International Business Review, 17(3): 267-284.
What has been done in the entry mode literature to date and where should future research in this field proceed? To answer this question, we review empirical studies in international entry mode research between the years 1980 and 2006. We identify key publication outlets and articles, leading researchers, major theoretical and methodological approaches, sample characteristics, and primary variables of interest that exist in the entry mode literature. We also highlight gaps in the literature and provide guidance for future research efforts. While entry mode research has advanced significantly over the past few decades, numerous questions remain unexplained. For example, our review suggests that researchers should begin to concentrate on the other side of the equation, that is, what happens once entry mode choice has been made. This provides fertile ground for continued development in entry mode research.
Dr. Harold Daniel, Associate Professor of Marketing and Director of the Center for Tourism Research and Outreach (CENTRO)
Daniel, H., Teisl, M., Allen, T., Bragg, L., Bayer, R., & Billings, C. 2008. Valuing lobster for Maine coastal tourism: Methodological considerations. Journal of Foodservice, 19: 133-138.
A major issue for travel and tourism practitioners, researchers and governmental leaders are determining the value of the experiences deliverable via destination assets. We hypothesize that Maine’s ‘lobster culture’ (lobster cuisine, lobster fishing, lobster fishing villages) is an important part of the coastal Maine tourist experience and that Maine’s coastal tourism industry relies on the presence of an active lobster fishery for its economic success. This paper proposes a method for valuing the lobster fishery asset in Maine for its coastal tourism trade by valuing the experiences that are derivable from it, namely lobster cuisine and the lobster industry and village culture. This specific project is part of a larger program to measure the economic value of the lobster fishing industry to the economy of Maine. This paper considers and outlines a specific rationale and choice of methods for assessing the value of that industry for Maine’s tourism economy.
Dr. Niclas Erhardt, Assistant Professor of Management
Martin-Rios, C. & Erhardt, N. 2008. Organizational knowledge transfer through human resource management: International diffusion of managerial performance management. European Journal of International Management, 2(2): 170 – 191
Little is known about the role and characteristics of managerial performance management systems in diverse international settings. An exploratory analysis of the purposes and practices of these systems on a cross-national basis is in demand. Results indicate significant differences between managerial performance management in 11 US and European multinationals. The degree to which the system was used as an instrument of intra-organisational cross-border knowledge flows had a significant impact on the selection of managerial performance management system.
Dr. Nory Jones, Director of Graduate Programs and Associate Professor of Management Information Systems
Jones, N., Meadow, C., & Sicilia, M. A. 2009. Measuring intellectual capital in higher education, Journal of Information and Knowledge Management, 8(2): 113-136.
Universities establish strategic plans to achieve their goals. However, these plans may not be successful if the needed resources are not available. Arguably, the most valuable resources in any university are the expertise of its faculty and staff; its intellectual capital. Therefore, if a university effectively measures and manages these valuable resources, it can more effectively create and deploy strategies to achieve its goals. This paper explores methods to effectively measure the intellectual capital in a university. It examines methodologies in the for-profit sector, creates analogies in the academic world, and then seeks to develop classifications which are meaningful in an academic environment. A study is done which mines an institutional repository to analyse expertise and proxy measures of intellectual capital. The results are analysed according to a production possibilities frontier theory.
Dr. John Mahon, Dean of the College of Business, Public Policy and Health, John M. Murphy Chair of International Business Policy and Strategy and Professor of Management, received a unique and impressive award from the International Association for Business and Society (IABS) in June: 20th Anniversary Commemoration Award for the Best Paper ever published in its journal, “Business and Society.” A paper he wrote in 1997 remains the most cited paper in the history of this management journal, which focuses on social issues, ethics and their influence on organizations.
Dr. George Miaoulis, Professor of Marketing
Miaoulis, G., Gutman, J., & Snow, M. M. 2009. Closing the gap: The patient-physician disconnect. Health Marketing Quarterly, 26: 56–68.
This article will present the results of over 150 focus groups conducted to identify the underlying drivers of customer satisfaction in a variety of health care settings. These focus groups demonstrate that the vast majority of patients first seek to have their negative emotional state addressed and then to receive medical care. The hypothesis presented is that patients’ satisfaction is based more on short-term consequences than long-term consequences (effects of treatment) because the short-term consequences involve reducing patients’ negative emotions that they bring to the treatment situation. Supporting one of the key points from the literature, if initial satisfaction is low, patient compliance suffers, then treatment efficacy is reduced. Therefore, short-term satisfaction mediates long-term satisfaction.
Dr. Terry Porter, Assistant Professor of Management
Porter, T., & Córdoba, J. 2009. Three views of systems theories and their implications for sustainability education. Journal of Management Education, 33(3), 323-347.
Worldwide, there is an emerging interest in sustainability and sustainability education. A popular and promising approach is the use of systems thinking. However, the systems approach to sustainability has neither been clearly defined nor has its practical application followed any systematic rigor, resulting in confounded and underspecified recommendations. The purpose of this article is to extend the notion of systems thinking as it pertains to sustainability pedagogy. The authors draw from systems theory and other literatures to develop three broad approaches to systems thinking: functionalist, interpretive, and complex adaptive systems (CAS). Each perspective is examined regarding its conceptual underpinnings, implications for sustainability, and pedagogical goals, objectives, skills, and exemplar projects and activities. The authors’ goal is to provide the reader with an immanently practical set of ideas and pedagogical tools that may be readily adopted by management educators in any discipline.
Dr. Natalie Steiger, Associate Professor of Production and Operations Management
Lada, E. K., Steiger, N. M., and Wilson, J. R. 2008. SBatch: A spaced batch means procedure for steady-state simulation analysis. Journal of Simulation, 2 (3): 170-185.
We discuss SBatch, a simplified procedure for steady-state simulation analysis that is based on spaced batch means, incorporating many advantages of its predecessors ASAP3 and WASSP while avoiding many of their disadvantages. SBatch is a sequential procedure designed to produce a confidence-interval (CI) estimator for the steady-state mean response that satisfies user-specified precision and coverage-probability requirements. First SBatch determines a batch size and an interbatch spacer size such that beyond the initial spacer, the spaced batch means approximately form a stationary first-order autoregressive process whose lag-one correlation does not significantly exceed 0.8. Next SBatch delivers a correlation-adjusted CI based on the sample variance and lag-one correlation of the spaced batch means as well as the grand mean of all the individual observations beyond the initial spacer. In an experimental evaluation on a broad range of test problems, SBatch compared favourably with ASAP3 and WASSP.
Dr. David Steiger, Associate Professor of Management Information Systems
Steiger, D. M. 2008. Knowledge creation through user-guided data mining. Journal of Information Systems Education, 8(4): 383-394.
Dr. Robert Strong, Professor of Finance and University Foundation Professor of Investment Education, published the fifth edition of his textbook on investment strategy. This is one of his three textbooks that are currently in use in the US and China.
Strong, R. A. 2009. Portfolio construction, management, and protection, 5th edition. Mason,