Pub Date : 2025-10-01DOI: 10.1016/j.emj.2024.09.006
Jane F. Maley
Effective performance appraisals are essential for managerial success and heavily depend on positive employee reactions, vital indicators of appraisal effectiveness. This study explores how isolation from supervisors and poor communication channels critically shape appraisal reactions among top subsidiary managers. Through an in-depth qualitative analysis of 34 managers, we investigate the unique adverse effects of these contextual factors. Using the leader–member exchange theory within the framework of subsidiary–headquarters interactions, we reveal complex, multidimensional communication challenges that are absent in conventional remote work settings. These challenges contribute to deteriorating relationships between managers and supervisors, highlighting the urgent need for enhanced communication strategies. Significantly, our findings highlight the distinct appraisal context of top subsidiary managers, whose experience diverges significantly from that of typical routine workers, necessitating tailored strategies to improve appraisal processes. This research establishes a robust agenda for enhancing these interactions, boosting appraisal effectiveness in multinational corporations.
{"title":"Contextual complexity: Understanding unique appraisal reactions of top subsidiary managers","authors":"Jane F. Maley","doi":"10.1016/j.emj.2024.09.006","DOIUrl":"10.1016/j.emj.2024.09.006","url":null,"abstract":"<div><div><span>Effective performance appraisals are essential for managerial success and heavily depend on positive employee reactions, vital indicators of appraisal effectiveness. This study explores how isolation from supervisors and poor communication channels critically shape appraisal reactions among top subsidiary managers. Through an in-depth qualitative analysis of 34 managers, we investigate the unique adverse effects of these contextual factors. Using the leader–member exchange theory within the framework of subsidiary–headquarters interactions, we reveal complex, multidimensional communication challenges that are absent in conventional remote work settings. These challenges contribute to deteriorating relationships between managers and supervisors, highlighting the urgent need for enhanced communication strategies. Significantly, our findings highlight the distinct appraisal context of top subsidiary managers, whose experience diverges significantly from that of typical routine workers, necessitating tailored strategies to improve appraisal processes. This research establishes a robust agenda for enhancing these interactions, boosting appraisal effectiveness in </span>multinational corporations.</div></div>","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":"43 5","pages":"Pages 889-899"},"PeriodicalIF":7.3,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145323244","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-10-01DOI: 10.1016/j.emj.2024.11.007
Yipeng Liu
From a behavioral perspective, talent drives innovation, influences its developmental trajectory, and largely determines the likelihood of its success. Against the background of the COVID-19 global health crisis and disruption, it became a pressing challenge for organizations to seek out and employ top-level talent to accelerate technological innovation, especially with talent mobility being sharply hampered by travel restrictions. By juxtaposing the talent management and organizational innovation theories, we aim to explore novel approaches to talent scouting that involve innovative organizational arrangements. By examining the role played by organizational innovation in China, we uncover why and how innovative organizational arrangements of talent scouting can provide a promising pathway to foster technological innovation from a multi-level perspective. We point out theoretical, managerial, and policy implications for talent management and innovation research.
{"title":"Talent scouting to accelerate technological innovation during the COVID-19 global health crisis: The role of organizational innovation in China","authors":"Yipeng Liu","doi":"10.1016/j.emj.2024.11.007","DOIUrl":"10.1016/j.emj.2024.11.007","url":null,"abstract":"<div><div><span>From a behavioral perspective, talent drives innovation, influences its developmental trajectory, and largely determines the likelihood of its success. Against the background of the COVID-19 global health crisis and disruption, it became a pressing challenge for organizations to seek out and employ top-level talent to accelerate technological innovation, especially with talent mobility being sharply hampered by travel restrictions. By juxtaposing the </span>talent management<span> and organizational innovation theories, we aim to explore novel approaches to talent scouting that involve innovative organizational arrangements. By examining the role played by organizational innovation in China, we uncover why and how innovative organizational arrangements of talent scouting can provide a promising pathway to foster technological innovation from a multi-level perspective. We point out theoretical, managerial, and policy implications for talent management and innovation research.</span></div></div>","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":"43 5","pages":"Pages 700-709"},"PeriodicalIF":7.3,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145323245","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In mixed economic systems, government policies are essential for addressing market failures and economic challenges. The COVID-19 pandemic has had notable impacts on nascent entrepreneurship. To assess government policy effects on nascent enterprise growth, we analyzed data from 39 Asia-Pacific countries using a Panel Quantile Regression via Moments (MM-QR) approach, covering 2006–2020. Our findings indicate that nascent enterprises generally respond positively to policies promoting entrepreneurship, but that special government measures during the pandemic had an inconclusive impact. Our analysis identifies credit market deepening as a crucial factor for promoting nascent enterprises. Thus, policymakers should focus on expanding credit market access to support nascent enterprise growth. This study offers key policy insights for promoting entrepreneurship in mixed economic systems.
{"title":"Government policy innovation in spurring nascent entrepreneurship during pandemic","authors":"Kazi Sohag , Alina Urazbaeva , S.M. Riad Shams , Oleg Mariev","doi":"10.1016/j.emj.2024.09.004","DOIUrl":"10.1016/j.emj.2024.09.004","url":null,"abstract":"<div><div><span>In mixed economic systems, government policies are essential for addressing market failures and economic challenges. The COVID-19 pandemic has had notable impacts on nascent entrepreneurship. To assess government policy effects on nascent </span>enterprise growth, we analyzed data from 39 Asia-Pacific countries using a Panel Quantile Regression via Moments (MM-QR) approach, covering 2006–2020. Our findings indicate that nascent enterprises generally respond positively to policies promoting entrepreneurship, but that special government measures during the pandemic had an inconclusive impact. Our analysis identifies credit market deepening as a crucial factor for promoting nascent enterprises. Thus, policymakers should focus on expanding credit market access to support nascent enterprise growth. This study offers key policy insights for promoting entrepreneurship in mixed economic systems.</div></div>","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":"43 5","pages":"Pages 723-732"},"PeriodicalIF":7.3,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145323247","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In nowadays’ ever-changing business environment, innovation plays a critical role in enabling organizational growth and adaptability to sustain the competitive advantages of businesses. A moving-forward business spirit and philosophy, filled with innovativeness, surpasses the thresholds of perceptible functionality and enhances the ability of businesses to adapt to the disruptive environment of the last decades. Innovative strategic reorientation is deemed necessary in business management to support a total transformation in organizational culture. This outcome can be realized through multiple approaches, including the collaboration of technology and human capital.
Following the call by extant research to discover new ways of overcoming the theorizing and methodological fetishism that span various domains, our management focus section sought to promote the knowledge on the behavioral aspects of innovation in organizations within the context of the pandemic, with particular emphasis on its precursors and outcomes, with the key goal of shedding light on the aforementioned relationships and laying groundwork for theorizing at both the micro- and the macro-levels.
Our editorial showcases four articles that illustrate organizational arrangements intended to foster organizational innovation, talent acquisition techniques during global disruptions and changes, factors that promote the innovative work behavior in turbulent eras, the governmental policies during the COVID-19 crisis to support entrepreneurial growth, and finally which are the leadership styles that allow concentration on innovative work, shedding light on the integration of management and human resources collaboration.
{"title":"The behavioral aspects of innovation in the age of pandemic","authors":"Shlomo Tarba (Prof) , Cary Cooper (Prof) , Michael Christofi , Demetris Vrontis (Prof) , Alkis Thrassou (Prof) , Nikoletta Theofania Siamagka","doi":"10.1016/j.emj.2025.09.001","DOIUrl":"10.1016/j.emj.2025.09.001","url":null,"abstract":"<div><div>In nowadays’ ever-changing business environment, innovation plays a critical role in enabling organizational growth and adaptability to sustain the competitive advantages of businesses. A moving-forward business spirit and philosophy, filled with innovativeness, surpasses the thresholds of perceptible functionality and enhances the ability of businesses to adapt to the disruptive environment of the last decades. Innovative strategic reorientation is deemed necessary in business management to support a total transformation in organizational culture. This outcome can be realized through multiple approaches, including the collaboration of technology and human capital.</div><div>Following the call by extant research to discover new ways of overcoming the theorizing and methodological fetishism that span various domains, our management focus section sought to promote the knowledge on the behavioral aspects of innovation in organizations within the context of the pandemic, with particular emphasis on its precursors and outcomes, with the key goal of shedding light on the aforementioned relationships and laying groundwork for theorizing at both the micro- and the macro-levels.</div><div>Our editorial showcases four articles that illustrate organizational arrangements intended to foster organizational innovation, talent acquisition techniques during global disruptions and changes, factors that promote the innovative work behavior in turbulent eras, the governmental policies during the COVID-19 crisis to support entrepreneurial growth, and finally which are the leadership styles that allow concentration on innovative work, shedding light on the integration of management and human resources collaboration.</div></div>","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":"43 5","pages":"Pages 695-699"},"PeriodicalIF":7.3,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145323251","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-10-01DOI: 10.1016/j.emj.2025.02.008
Heidi Wechtler , Yuliani Suseno
In times of crisis like the one brought on by the COVID-19 pandemic, it is crucial for organizations to remain innovative in order to stay competitive and maintain their strategic position in the market. However, fostering innovation during crises demands a different leadership behavior that creates a psychologically safe and meaningful environment for employees to engage in innovative work behavior. Based on a sample of 304 employees with data collected during the pandemic, our study focuses on the role of bureaucratic and change-oriented leadership, and the psychological dimension of innovation in terms of vertical trust, i.e., employees' trust in their leaders. Our findings demonstrate that bureaucratic leadership does not directly facilitate employees' innovative work behavior but has a significant negative impact on vertical trust. In contrast, our findings indicate that change-oriented leadership directly influences innovative work behavior and also positively affects the level of vertical trust. Furthermore, change-oriented leadership indirectly influences employees' innovative work behavior through vertical trust as a mediating variable. The results also indicate the moderation effect of vertical trust on the relationship between change-oriented leadership behavior and employees' innovative work behavior. Additionally, our findings suggest that, as vertical trust increases, the rate of increase in employees' innovative work behavior accelerates, regardless of the duration of the leader–follower relationship or organizational tenure. Our study essentially integrates leadership behaviors, vertical trust, and employees' innovative work behavior, by enhancing our understanding of the conditions under which employees’ innovative work behavior can be facilitated and supported in times of crisis.
{"title":"Unlocking innovative work behavior during times of crisis: The role of leadership and vertical trust","authors":"Heidi Wechtler , Yuliani Suseno","doi":"10.1016/j.emj.2025.02.008","DOIUrl":"10.1016/j.emj.2025.02.008","url":null,"abstract":"<div><div>In times of crisis like the one brought on by the COVID-19 pandemic, it is crucial for organizations to remain innovative in order to stay competitive and maintain their strategic position in the market. However, fostering innovation during crises demands a different leadership behavior that creates a psychologically safe and meaningful environment for employees to engage in innovative work behavior. Based on a sample of 304 employees with data collected during the pandemic, our study focuses on the role of bureaucratic and change-oriented leadership, and the psychological dimension of innovation in terms of vertical trust, i.e., employees' trust in their leaders. Our findings demonstrate that bureaucratic leadership does not directly facilitate employees' innovative work behavior but has a significant negative impact on vertical trust. In contrast, our findings indicate that change-oriented leadership directly influences innovative work behavior and also positively affects the level of vertical trust. Furthermore, change-oriented leadership indirectly influences employees' innovative work behavior through vertical trust as a mediating variable. The results also indicate the moderation effect of vertical trust on the relationship between change-oriented leadership behavior and employees' innovative work behavior. Additionally, our findings suggest that, as vertical trust increases, the rate of increase in employees' innovative work behavior accelerates, regardless of the duration of the leader–follower relationship or organizational tenure. Our study essentially integrates leadership behaviors, vertical trust, and employees' innovative work behavior, by enhancing our understanding of the conditions under which employees’ innovative work behavior can be facilitated and supported in times of crisis.</div></div>","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":"43 5","pages":"Pages 733-743"},"PeriodicalIF":7.3,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145323216","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-10-01DOI: 10.1016/j.emj.2024.08.003
Marco Balzano , Guido Bortoluzzi
Design thinking as a problem-solving framework has garnered significant attention for its reliance on abductive reasoning and human-centeredness. Existing literature has underscored the importance of these elements in fostering an array of organizational outcomes and enhancing the overall stakeholder satisfaction. However, less is known about how these reasoning approaches influence team innovation quality, particularly in time-constrained settings. The present study aims to fill this gap by focusing on team dynamics and examining the effects of abductive reasoning and human-centeredness on team innovation quality. We conduct an empirical analysis involving seven teams, each undertaking multiple innovation decisions under time constraints in a laboratory game context. Our results suggest an interplay between the reasoning approaches and team innovation quality. Specifically, teams that relied more on abductive reasoning in time-constrained tasks tended to make lower-quality decisions, while teams that were highly human-centered produced decisions of higher quality. Importantly, team size emerged as a key moderating variable. Larger teams were found to exert an even more negative impact of abductive reasoning on team innovation quality while amplifying the positive effects of human-centeredness.
{"title":"Time is running out: How design thinking shapes team innovation under time constraints","authors":"Marco Balzano , Guido Bortoluzzi","doi":"10.1016/j.emj.2024.08.003","DOIUrl":"10.1016/j.emj.2024.08.003","url":null,"abstract":"<div><div>Design thinking as a problem-solving framework has garnered significant attention for its reliance on abductive reasoning and human-centeredness. Existing literature has underscored the importance of these elements in fostering an array of organizational outcomes and enhancing the overall stakeholder satisfaction. However, less is known about how these reasoning approaches influence team innovation quality, particularly in time-constrained settings. The present study aims to fill this gap by focusing on team dynamics and examining the effects of abductive reasoning and human-centeredness on team innovation quality. We conduct an empirical analysis involving seven teams, each undertaking multiple innovation decisions under time constraints in a laboratory game context. Our results suggest an interplay between the reasoning approaches and team innovation quality. Specifically, teams that relied more on abductive reasoning in time-constrained tasks tended to make lower-quality decisions, while teams that were highly human-centered produced decisions of higher quality. Importantly, team size emerged as a key moderating variable. Larger teams were found to exert an even more negative impact of abductive reasoning on team innovation quality while amplifying the positive effects of human-centeredness.</div></div>","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":"43 5","pages":"Pages 785-796"},"PeriodicalIF":7.3,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141936541","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-10-01DOI: 10.1016/j.emj.2024.08.005
Luca Joachim Scheuer, Julia Thaler
Employees' commitment to organizational change largely determines the success of change initiatives, and communication arguably can strengthen this commitment. By building on attribution theory and knowledge about legitimacy judgments, the current research investigates how two-sided messages, which contain both negative and positive information, affect employees’ commitment to change, through the serial mediation of credibility and legitimacy judgments. A vignette experiment with 227 participants reveals, in findings that conflict with some prior contributions, that in a change context, two-sided messages directly reduce credibility. Two-sided messages are also indirectly linked to commitment to change through the proposed serial mediation. Contrary to our hypotheses, the indirect association is negative. The study thereby adds to research on strategic communication and legitimacy during organizational change and provides valuable insights for practitioners regarding the use and context-specific limited persuasiveness of two-sided messages.
{"title":"Strategic communication in organizational change: Exploring the impact of two-sided messages on legitimacy judgments and commitment to change","authors":"Luca Joachim Scheuer, Julia Thaler","doi":"10.1016/j.emj.2024.08.005","DOIUrl":"10.1016/j.emj.2024.08.005","url":null,"abstract":"<div><div>Employees' commitment to organizational change largely determines the success of change initiatives, and communication arguably can strengthen this commitment. By building on attribution theory and knowledge about legitimacy judgments, the current research investigates how two-sided messages, which contain both negative and positive information, affect employees’ commitment to change, through the serial mediation of credibility and legitimacy judgments. A vignette experiment with 227 participants reveals, in findings that conflict with some prior contributions, that in a change context, two-sided messages directly reduce credibility. Two-sided messages are also indirectly linked to commitment to change through the proposed serial mediation. Contrary to our hypotheses, the indirect association is negative. The study thereby adds to research on strategic communication and legitimacy during organizational change and provides valuable insights for practitioners regarding the use and context-specific limited persuasiveness of two-sided messages.</div></div>","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":"43 5","pages":"Pages 797-811"},"PeriodicalIF":7.3,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142181547","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-10-01DOI: 10.1016/j.emj.2024.06.005
Tachia Chin , Yi Shi , Elisa Arrigo , Rosa Palladino
The COVID-19 pandemic has accelerated advance of digital technologies, resulting in unconventional innovation challenges for companies and novel, digital-based types of gig workers. Considering this phenomenon and its huge impact on employees' career development patterns and innovative work behavior (IWB), this research investigates how gig workers' perceived career sustainability affects their post-pandemic IWB. A critical feature of gig work is breaking traditional boundaries of working time and space, which often causes paradoxes disrupting traditional modes of knowledge exchange at work. Accordingly, this study is anchored theoretically in an exploration of how interacting mechanisms caused by two primary knowledge exchange behaviors, knowledge sharing and knowledge hiding, affect employee IWB from a paradoxical perspective of yin–yang harmonizing. Data from quantitative and qualitative studies were collected from China's cross-border e-commerce enterprises, which mainly target North American and European markets. The results indicate a nonlinear relationship between career sustainability and IWB. The interaction of knowledge sharing and knowledge hiding relates significantly to IWB, with the interaction moderating the U-shaped career sustainability–IWB relationship that was detected. Our study also carries valuable theoretical and practical implications that indicate that job flexibility and information and communications technology (ICT) can favor knowledge exchange, through knowledge sharing and knowledge hiding interaction, in proportion to the degree of career sustainability. The study also suggests a need to adopt organizational sharing strategies capable of spreading a work culture based on results, in which global companies can confront perplexing employment situations more effectively, thus promoting innovation.
{"title":"Paradoxical behavior toward innovation: Knowledge sharing, knowledge hiding, and career sustainability interactions","authors":"Tachia Chin , Yi Shi , Elisa Arrigo , Rosa Palladino","doi":"10.1016/j.emj.2024.06.005","DOIUrl":"10.1016/j.emj.2024.06.005","url":null,"abstract":"<div><div>The COVID-19 pandemic has accelerated advance of digital technologies, resulting in unconventional innovation challenges for companies and novel, digital-based types of gig workers. Considering this phenomenon and its huge impact on employees' career development patterns and innovative work behavior (IWB), this research investigates how gig workers' perceived career sustainability affects their post-pandemic IWB. A critical feature of gig work is breaking traditional boundaries of working time and space, which often causes paradoxes disrupting traditional modes of knowledge exchange at work. Accordingly, this study is anchored theoretically in an exploration of how interacting mechanisms caused by two primary knowledge exchange behaviors, knowledge sharing and knowledge hiding, affect employee IWB from a paradoxical perspective of yin–yang harmonizing. Data from quantitative and qualitative studies were collected from China's cross-border e-commerce enterprises, which mainly target North American and European markets. The results indicate a nonlinear relationship between career sustainability and IWB. The interaction of knowledge sharing and knowledge hiding relates significantly to IWB, with the interaction moderating the U-shaped career sustainability–IWB relationship that was detected. Our study also carries valuable theoretical and practical implications that indicate that job flexibility and information and communications technology (ICT) can favor knowledge exchange, through knowledge sharing and knowledge hiding interaction, in proportion to the degree of career sustainability. The study also suggests a need to adopt organizational sharing strategies capable of spreading a work culture based on results, in which global companies can confront perplexing employment situations more effectively, thus promoting innovation.</div></div>","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":"43 5","pages":"Pages 710-722"},"PeriodicalIF":7.3,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145323246","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-10-01DOI: 10.1016/j.emj.2024.08.009
Tsung-Kang Chen , Yijie Tseng , Yun Hao
We investigate the association between the social networks of management team (AMT) and corporate credit risk using American corporate bond market data. We find that the social network size of AMT is significantly and positively related to corporate bond yield spreads, consistent with the risk-taking mechanism. In addition, the relative social networks of AMT to CEO and subordinate executives to CEO are significantly and positively related to bond yield spreads while that of middle managers to CEO have the opposite association. This implies that relatively greater social networks of subordinate executives could potentially influence the CEO to undertake greater risks, whereas relatively greater social networks of middle managers reduce corporate credit risk mainly through the information-sharing mechanism rather than the risk-taking effect since MM has no direct decision-making authority. Moreover, the variations in social networks among AMT are positively associated with corporate bond yield spreads, suggesting that an inequitable distribution of power among AMT members increases corporate credit risk. Additionally, we find that non-invesment-grade bonds, managerial entrenchment, information asymmetry, and overinvestment all intensify the positive association between AMT social networks and credit risk, namely enhancing the bondholders’ perceptions about the risk-taking mechanism of AMT social networks. Finally, our findings are robust after considering endogeneity concerns and alternative model settings.
我们利用美国公司债券市场数据研究了管理团队（AMT）的社交网络与公司信用风险之间的关联。我们发现，AMT 的社交网络规模与公司债券收益率利差显著正相关，这与风险承担机制相一致。此外，AMT 与 CEO 和下属高管与 CEO 的相对社交网络与债券收益率利差显著正相关，而中层管理人员与 CEO 的社交网络则相反。这意味着，下属高管的社会网络相对较大，有可能影响首席执行官承担更大的风险，而中层管理者的社会网络相对较大，主要通过信息共享机制而非风险承担效应来降低企业信贷风险，因为中层管理者没有直接的决策权。此外，AMT 之间社会网络的变化与公司债券收益率利差呈正相关，这表明 AMT 成员之间权力分配不公会增加公司信贷风险。此外，我们还发现，非投资级债券、管理阶层固化、信息不对称和过度投资都强化了 AMT 社会网络与信用风险之间的正相关，即增强了债券持有人对 AMT 社会网络风险承担机制的认知。最后，在考虑了内生性问题和其他模型设置后，我们的研究结果是稳健的。
{"title":"Management team categories, social network characteristics, and corporate credit risk","authors":"Tsung-Kang Chen , Yijie Tseng , Yun Hao","doi":"10.1016/j.emj.2024.08.009","DOIUrl":"10.1016/j.emj.2024.08.009","url":null,"abstract":"<div><div><span>We investigate the association between the social networks of management team (AMT) and corporate credit risk using American corporate bond market data. We find that the social network size of AMT is significantly and positively related to corporate bond yield spreads, consistent with the risk-taking mechanism. In addition, the relative social networks of AMT to CEO and subordinate executives to CEO are significantly and positively related to bond yield spreads while that of middle managers to CEO have the opposite association. This implies that relatively greater social networks of subordinate executives could potentially influence the CEO to undertake greater risks, whereas relatively greater social networks of middle managers reduce corporate credit risk mainly through the information-sharing mechanism rather than the risk-taking effect since MM has no direct decision-making authority. Moreover, the variations in social networks among AMT are positively associated with corporate bond yield spreads, suggesting that an inequitable distribution of power among AMT members increases corporate credit risk. Additionally, we find that non-invesment-grade bonds, managerial entrenchment, </span>information asymmetry, and overinvestment all intensify the positive association between AMT social networks and credit risk, namely enhancing the bondholders’ perceptions about the risk-taking mechanism of AMT social networks. Finally, our findings are robust after considering endogeneity concerns and alternative model settings.</div></div>","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":"43 5","pages":"Pages 831-849"},"PeriodicalIF":7.3,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142223883","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-10-01DOI: 10.1016/j.emj.2024.08.002
James C. Quill , Colette Darcy , Thomas Garavan , Muhammad Waheed Aktar
This study investigates whether and how vertical leader transformational and transactional styles impact team members' perceptions of shared leadership. It also investigates the mediating role of a leader's attitude to sport on these relationships. Using a matched sample of 154 team leaders and 354 team members from agile teams in two MNCs located in Ireland and China, we found that both vertical transformational and transactional leadership were linked to team members' shared leadership behavior; however, the impact of transformational leadership was significantly greater. We also found that a vertical team leader's attitude to sports, and specifically the pleasure and participation attitude, positively mediated the relationship between transformational and transactional leadership and shared leadership behavior. This contrasted with the power and performance sports attitude, which mediated both transformational and transactional leadership styles, but for which the impact of transactional leadership on shared leadership became negative. We extend research on the antecedents of shared leadership and the important role that both a vertical leader's style and attitudes play within an agile software team. We discuss implications for theory and practice.
{"title":"Shared leadership in MNC agile software teams: The role of team leadership style and attitude to sport","authors":"James C. Quill , Colette Darcy , Thomas Garavan , Muhammad Waheed Aktar","doi":"10.1016/j.emj.2024.08.002","DOIUrl":"10.1016/j.emj.2024.08.002","url":null,"abstract":"<div><div>This study investigates whether and how vertical leader transformational and transactional styles impact team members' perceptions of shared leadership. It also investigates the mediating role of a leader's attitude to sport on these relationships. Using a matched sample of 154 team leaders and 354 team members from agile teams in two MNCs located in Ireland and China, we found that both vertical transformational and transactional leadership were linked to team members' shared leadership behavior; however, the impact of transformational leadership was significantly greater. We also found that a vertical team leader's attitude to sports, and specifically the pleasure and participation attitude, positively mediated the relationship between transformational and transactional leadership and shared leadership behavior. This contrasted with the power and performance sports attitude, which mediated both transformational and transactional leadership styles, but for which the impact of transactional leadership on shared leadership became negative. We extend research on the antecedents of shared leadership and the important role that both a vertical leader's style and attitudes play within an agile software team. We discuss implications for theory and practice.</div></div>","PeriodicalId":48290,"journal":{"name":"European Management Journal","volume":"43 5","pages":"Pages 776-784"},"PeriodicalIF":7.3,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145323248","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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