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CONTENTS of Volume 22, Number 2, December 2016

  • Moon Joung Kim

  • In the present study, I examine how an individual’s trait positive affect (TPA) may interact with those of group members to generate important individual outcomes, such as autonomy and task cohesion. The proposed multilevel moderated mediation framework was tested using data collected from 293 employees in 66 workgroups. Results demonstrated that the indirect effect of TPA on task cohesion through autonomy is stronger when individual affective dissimilarity is low and group affective diversity is high. The analysis also confirmed the role of autonomy as the mediating mechanism between TPA and task cohesion.


  • This study elucidates the specific cognitive mechanism by which the act of forgiving enhances creativity. We use the dual pathway to creativity model to examine whether the act of forgiving increases creativity via cognitive persistence (generating detailed ideas within a small number of categories), but not via cognitive flexibility (generating multiple categories and switching ideas between categories). Two experiments conducted


  • Employing the method of time series analysis, this paper analyzes data obtained from the Hawthorne experiment from the perspective of human relations. Although previous studies adopted statistical tools to analyze the “first relay” experiments, direct inclusion of “human relations” variables was absent. The study includes “human relations” variables that suggest social facilitation and social learning process in the statistical analysis. Unlike previous studies, the direct inclusion of such variables resulted in the support for the human relations hypothesis.


  • This paper investigates; first, the impact of profit and growth aspirations in triggering problemistic search; second, the existence of institutional or imitational search; and third, the influence of performance aspirations on institutional search in the global semiconductor industry. The empirical results show that the growth aspiration is a more significant performance measure affecting R&D intensity and the strong institutional search behavior is also evident in our research setting. The institutional search behavior is found to be strengthened by poor growth but weakened by low profit, suggesting a shift of attention between aspiration and survival when imitating others in R&D investment.

CONTENTS of Volume 22, Number 1, June 2016


  • To achieve innovation, constraints that block the effect of a company’s creative culture on innovation and creativity in the organization have to be removed. We propose the creativity creation model that takes account of these constraints and suggest that, to cultivate an innovative climate,


  • We develop a theory of corporate governance conservatism that reflects the preference of politically conservative chief executive officers (CEOs) for stability and continuity in corporate governance provisions without managerial entrenchment. Our theory suggests that conservative CEOs tend to prefer corporate governance provisions against hostile takeover and drastic board turnover, but their emphasis on hard work and self-discipline are likely to lead them to run their firms more efficiently with less debt. Using a sample of 2,339 U.S. corporations in the 1996-2006 period, we find strong empirical support for this new theory. Firms with Republican CEOs, who are known to be politically conservative, are more likely to stagger the terms and elections of directors, limit shareholders’ ability to amend corporate bylaws and require supermajority for approval of mergers, but those CEOs are not associated with a significant impairment in shareholders’ value. Rather, we find firms run by Republican CEOs tend to have higher return on assets and lower leverage, consistent with the results documented by Hutton, Jiang, and Kumar (2014). Overall, our theory and empirical results highlight an important spillover effect of top managers’


  • We identify and horse race three causes for the underperformance of some asset pricing models: investor irrationality, transaction costs, and missing risk factors. Specifically, we regress the difference of realized over expected returns (pricing error) per various asset pricing models onto proxies for the reasons for explanatory breakdown. First, for the capital asset pricing model (CAPM) and six other models we find that both investor irrationality and transaction costs are significantly related to the pricing error controlling for firm size and valuation. Second, models with more risk factors than the CAPM cannot overcome the shortcoming of the CAPM due to investor irrationality and transaction costs. In conclusion, transaction costs and investor irrationality are shown to be impediments to enhancing