Managerial commitment to the status quo and corporate divestiture: Can power motivate openness to change?

Chiu, Shih-Chi; Pathak, Seemantini; Hoskisson, Robert E.; Johnson, Richard A.

doi:10.1016/j.leaqua.2020.101459

Cited by 15 publications

(25 citation statements)

References 144 publications

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“…The result showed that employee openness and resistance to change partially mediate the relationship between technological turbulence and resilience. The findings support the previous argument that openness to change encourages employee productivity and performance, whereas resistance to change decelerates employees’ intention to respond to turbulent environments (Ariza-Montes et al , 2017; Chiu et al , 2020; Dai et al , 2020; Hon et al , 2014). The available literature highlighted the importance of employee resilience to cope with TT.…”

Section: Conclusion and Theoretical Implicationssupporting

confidence: 88%

Development of employees’ resilience in technologically turbulent environments: probing the mechanisms of consonance–dissonance and crisis leadership

Senbeto

Hon

2021

IJCHM

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Purpose This study aims to examine the impact of technological turbulence on employee resilience based on cognitive dissonance theory and through a process of consonance and dissonance. First, the study investigates employee openness to represent cognitive consonance and then resistance to change to represent cognitive dissonance processes. Such processes mediate the relationship between technological turbulence and employee resilience. Second, this study proposes that the above associations will be moderated by crisis leadership efficacy. Design/methodology/approach The study uses multi-source data from service employees and their immediate superiors in hospitality, including a two-phase data collection process. Moreover, the study conducts a two-step structural equation modeling. Findings This study finds that employee openness and resistance to change mediate the association between technological turbulence and employee resilience. Furthermore, results reveal that crisis leadership efficacy strengthens the relationships (direct and indirect, through openness and resistance to change) between technological turbulence and employee resilience. The study discusses the implications for theory and practice for tourism scholars and practitioners. Research limitations/implications This study provides empirical evidence showing the importance of employee resilience and the underlying mechanisms in responding to technological turbulence in the hospitality industry. Originality/value Resilience research in the hospitality and service context is timely and necessary to cope up with the changing market and turbulences. This study extends the extant literature that mainly examined the crisis and dynamic conditions. The study contributes to crisis management, marketing and leadership literature concerning technological turbulence and employee resilience in the hospitality context.

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Section: Conclusion and Theoretical Implicationssupporting

confidence: 88%

Development of employees’ resilience in technologically turbulent environments: probing the mechanisms of consonance–dissonance and crisis leadership

Senbeto

Hon

2021

IJCHM

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“…We suggest that the effects of these different sources of CEO power may differ as the amount and character of the interactions between CEOs and stakeholders involved varies across the four distinguished sources (cf. Chiu et al, 2020; Park & Tzabbar, 2016). The unexpected outcomes regarding ownership power and prestige power might indicate that, in general, CEOs with high scores on these two sources of power are predominantly concerned with their own ownership or with the company’s reputation in the specific field than with broader societal values (i.e., employee, environmental, and social matters; Mishra & Modi, 2016).…”

Section: Discussionmentioning

confidence: 99%

“…Therefore, we chose single proxy variables to reflect each source of CEO power. Following Chiu et al’s (Chiu et al, 2020) study, structural power was measured by CEO duality and coded as 1 for a combined CEO and board chair and 0 for a separate CEO and board chair. Ownership power was measured by CEO equity ownership , referring to a percentage of the number of shares owned by a CEO to the total shares of a firm.…”

Section: Methodsmentioning

confidence: 99%

“…Lee et al (2020) also suggested that celebrity CEOs are likely to implement CSR to maintain their celebrity status and identity. In addition, prestigious CEOs are part of an elite network of people that receive a large amount of information from their prestigious peers (Blagoeva et al, 2020; Chiu et al, 2020), and they can better understand the community and social needs of stakeholders (Chahine et al, 2019). As such, we suggest that prestige CEOs are more likely to engage in CSR as an opportunity to protect and further enhance their reputation and legitimacy.…”

Section: Theoretical Background and Hypothesesmentioning

confidence: 99%

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Power and responsibility: How different sources of CEO power affect firms' corporate social responsibility practices

Jia

Liao

Heijden

et al. 2022

Business Ethics Env & Resp

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“…Liu et al, 2021). Kekuatan pemilik berfungsi sebagai alat strategis yang mampu mengurangi status quo di masa-masa krisis (Chiu et al, 2020). Adanya kontak antara manajemen dan pemilik juga dapat dijadikan dasar sebagai elemen yang bisa mempengaruhi keputusan manajemen dalam kondisi financial distress (He et al, 2021;Mangena et al, 2020).…”

Section: Pendahuluanunclassified

Mekanisme Pemantauan Yang Efektif Dalam Kondisi Financial Distress

Wijaya¹,

Hermanda²

2022

Jur. Eko. Man. Akt Islam

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This study aims to explain how effective the monitoring mechanism works in conditions of financial distress. Two types of monitoring mechanisms were explored in the study namely: corporate governance and ownership monitoring mechanisms. This study uses 294 companies listed on the Indonesia Stock Exchange for 3 years. This study uses binary logistic regression to analyze the empirical data. The results of the data processing show that only the size of the board of commissioners and gender diversification can help companies deal with economic downturns. This study implies that agency theory is superior to resource dependence theory which explains that board size can optimize board performance. Abstrak Studi ini bertujuan untuk menjelaskan seberapa efektif mekanisme pemantauan bekerja dalam kondisi financial distress. Dua jenis mekanisme pemantauan dieksplorasi dalam studi yakni: tata kelola perusahaan dan mekanisme pemantauan kepemilikan. Penelitian ini menggunakan 294 perusahaan yang tercatat di Bursa Efek Indonesia selama 3 tahun. Studi ini menggunakan regresi logistik biner untuk menganalisis data empiris. Hasil olahan data menunjukkan bahwa hanya ukuran dewan komisaris dan diversifikasi gender yang mampu membantu perusahaan menghadapi kemerosotan ekonomi. Penelitian ini mengimplikasikan bahwa teori keagenan lebih unggul dibandingkan teori ketergantungan sumber daya yang menjelaskan bahwa ukuran dewan dapat mengoptimalkan kinerja dewan.

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Managerial commitment to the status quo and corporate divestiture: Can power motivate openness to change?

Cited by 15 publications

References 144 publications

Development of employees’ resilience in technologically turbulent environments: probing the mechanisms of consonance–dissonance and crisis leadership

Development of employees’ resilience in technologically turbulent environments: probing the mechanisms of consonance–dissonance and crisis leadership

Power and responsibility: How different sources of CEO power affect firms' corporate social responsibility practices

Mekanisme Pemantauan Yang Efektif Dalam Kondisi Financial Distress

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