Review of Managerial Science最新文献

Crowdsourcing in science is a collaborative online process through which scientists involve a group of self-selected individuals of varying, diverse knowledge and skills via an open call on the Internet and/or online platforms to undertake a specified research task or set of tasks. It is a response to the call for more inclusive, responsive and transparent research in science. Despite the growing importance of crowdsourcing in science, little is known about which factors influence researchers’ behavioural intentions to use crowdsourcing in science. This study aims to identify factors that influence researchers’ behavioural intentions to use crowdsourcing in science, as well as to develop and test a theoretical multilevel model of researchers’ behavioural intentions to use crowdsourcing in science. We use a sequential mixed method: (1) focus group interviews with 36 researchers from six fields of science, in line with the OECD classification; and (2) partial least squares structural equation modelling (PLS-SEM), using a survey of 552 management researchers to test the model. Managerial and theoretical results show that the antecedents to perceived usefulness and perceived organizational support positively impact the intention to use crowdsourcing in science. Our study offers a new conceptual framework that presents antecedents relevant to scholars’ intention to use crowdsourcing in science. The results bring implications for researchers, managerial staff of institutions of higher education and decision-makers that can encourage researchers of crowdsourcing in science to further develop scientific knowledge in the field.

Minibonds are a hybrid between bank debt and bond issuance introduced in Italy to expand the range of possible financing resources available to unlisted enterprises. This peculiar debt security was introduced as part of a regulatory reform in 2012 to diversify funding sources and facilitate access to capital markets for Small and Medium Enterprises (SMEs). In this study, we investigate whether firms that decide to issue and list a minibond engage in earnings management (EM) to leverage the growth-signaling effect generated by the listing of this security. Listing bonds on a financial market is not mandatory, but a strategic choice. Collecting a sample of 136 minibond listings during 2013–2020, we use panel analysis to show that issuers tend to manage their earnings in the year of listing. We argue that this behavior is undertaken in order to provide a better representation of their economic and financial situation and consequently to better impress current or future stakeholders. Moreover, we also find that larger minibond size partially discourages EM, thus confirming the role of debt as a means of control over management. Overall, we argue that stakeholders should be aware that, even though minibond issuers are sound firms on average, they tend to inflate their earnings in the year of listing in order to reinforce the signaling effect of the quotation.

Charisma in managers is a leadership vitamin that enables them to lead more effectively and improve organizational performance. However, existing questionnaire measures of leaders’ charisma suffer from several limitations, primarily that they almost exclusively assess leaders’ charisma in terms of its effects rather than the constituent behaviors, thus conflating cause and effect. Employing the signaling approach to leaders' charisma, I developed and validated the Charismatic Leadership Tactics Scale (CLTS) across ten studies to measure leaders' charisma as an exogenous variable. Scale items were derived from empirical research on distinct charismatic leadership tactics. First, I established the factorial structure and internal consistency of the CLTS with managers (Study 1) and employees (Study 2). Second, I tested the agreement between manager and employee ratings and the scale’s convergent, discriminant, and incremental validity (Studies 3, 4). Third, I demonstrated that the CLTS relate to objectively measured harismatic tactics, the cognitive abilities underlying leaders’ charisma, and the outcomes that leaders’ charisma is expected to influence (external validity; Studies 5, 6, 7). Fourth, I showed the scale’s sensitivity to change in a charisma training program for managers (Study 8). Finally, I present a cross-cultural adaptation of the CLTS with managers (Study 9) and employees (Study 10). Utilizing diverse methodologies, including cross-sectional studies, automated behavioral assessments, cognitive tests, negotiation tasks, and a quasi-experimental training evaluation, these studies establish the CLTS as a valid instrument. The CLTS matches or exceeds established charismatic leadership measures while disentangling its measurement from endogenous or conflicting influences.

This study seeks to systematize and integrate the scientific knowledge about the social and environmental impact of entrepreneurship. It does so by performing a bibliometric analysis and a systematic literature review of 172 journal articles. The study provides an overview of the current knowledge on the topic by identifying four thematic clusters: “social entrepreneurship for societal impact”, “entrepreneurship for sustainable development”, “female entrepreneurship for institutional change”, and “entrepreneurship for inclusive regional development”. It further reveals that entrepreneurship literature predominantly focuses on social impact, with less emphasis on environmental impact, and it stresses the need for future research to avoid working in silos. In particular, it suggests that the boundaries between the different impact domains are elusive and that the interlinkages between social, environmental, and economic impact should be further explored. Finally, it proposes that further studies need to increase clarity in the conceptualization and operationalization of impact in entrepreneurship research, as well as to pay more attention to the negative impact of entrepreneurship.

Our research investigates the role of social media communication in amplifying high-quality information and its impact on the success of ICOs in achieving their soft cap. We analyzed data from 3,644 ICOs and the demographics of 1,987 CEOs, CFOs, and CTOs to compare their quality attributes against their number of social media followers. Our findings reveal that the most significant factors for reaching the soft cap are the number of followers and team size, while the competencies (education and skills) of the management team have a very marginal effect, even when enhanced through social media. This indicates that widespread social media signals can positively influence investor behavior without necessarily reducing information asymmetries regarding the quality of the team. We propose that this effect arises from the combination of minimal investment amounts and stimulated herding behavior among investors.

Using a sample of 630 firm-year observations of non-financial Spanish listed companies for the period 2004–2020, this study examines linkages of family and non-family female directors and cash holding. We show that family and non-family female directors affect cash holdings differently. When the presence of family female directors is scarce, their role is eclipsed, thereby encouraging actions related to family goals and increasing cash holdings. However, when the presence of family female directors reaches a critical mass, the cohesion between the interests of the dominant family and external investors increases, thereby reducing the level of cash holdings. When the number of non-family female directors is low, the cash level of family firms is reduced, suggesting that non-family female directors encourage the family firm’s cash reduction as a result of their greater capacity to control and their orientation towards an effective corporate governance system. This cash-decreasing effect will occur even if the number of non-family female directors is low, since the purpose of appointing non-family female directors is less likely to be symbolic. In addition, non-family female directors are concerned about threats to reputational capital, such that reducing cash holdings would promote their reputation as credible supervisors, protect their current appointments, and also boost the likelihood of future appointments. However, the presence of a critical mass of non-family female directors becomes a sufficiently powerful instrument of control and legitimation for external investors, allowing for increased cash levels without increasing agency conflicts.