Showing papers by "HEC Montréal published in 2010"
TL;DR: This paper proposes a model that describes uncertainty in both the distribution form (discrete, Gaussian, exponential, etc.) and moments (mean and covariance matrix) and demonstrates that for a wide range of cost functions the associated distributionally robust stochastic program can be solved efficiently.
Abstract: Stochastic programming can effectively describe many decision-making problems in uncertain environments. Unfortunately, such programs are often computationally demanding to solve. In addition, their solution can be misleading when there is ambiguity in the choice of a distribution for the random parameters. In this paper, we propose a model that describes uncertainty in both the distribution form (discrete, Gaussian, exponential, etc.) and moments (mean and covariance matrix). We demonstrate that for a wide range of cost functions the associated distributionally robust (or min-max) stochastic program can be solved efficiently. Furthermore, by deriving a new confidence region for the mean and the covariance matrix of a random vector, we provide probabilistic arguments for using our model in problems that rely heavily on historical data. These arguments are confirmed in a practical example of portfolio selection, where our framework leads to better-performing policies on the “true” distribution underlying the daily returns of financial assets.
1,569 citations
TL;DR: A recent meta-analysis by Schutte, Malouff, Thorsteinsson, Bhullar, and Rooke as discussed by the authors indicated that Emotional Intelligence (EI) is associated with better health.
833 citations
TL;DR: Variable neighbourhood search (VNS) is a metaheuristic, or a framework for building heuristics, based upon systematic changes of neighbourhoods both in descent phase, to find a local minimum, and in perturbation phase to emerge from the corresponding valley as mentioned in this paper.
Abstract: Variable neighbourhood search (VNS) is a metaheuristic, or a framework for building heuristics, based upon systematic changes of neighbourhoods both in descent phase, to find a local minimum, and in perturbation phase to emerge from the corresponding valley It was first proposed in 1997 and has since then rapidly developed both in its methods and its applications In the present paper, these two aspects are thoroughly reviewed and an extensive bibliography is provided Moreover, one section is devoted to newcomers It consists of steps for developing a heuristic for any particular problem Those steps are common to the implementation of other metaheuristics
718 citations
TL;DR: This article surveys the subclass of problems called dynamic pickup and delivery problems, in which objects or people have to be collected and delivered in real-time, and discusses some general issues as well as solution strategies.
638 citations
TL;DR: In this article, the authors analyze 17 studies of the use of urban sustainable development indicators (SDI) in developed western countries and reveal a lack of consensus not only on the conceptual framework and the approach favored, but also on the selection and optimal number of indicators.
504 citations
TL;DR: In this paper, the authors identify the key role played by the customer's perception of a firm's greed, i.e., an inferred negative motive about the firm's opportunistic intent, that dangerously energizes customer revenge.
Abstract: This article develops and tests a comprehensive model of customer revenge that contributes to the literature in three manners. First, we identify the key role played by the customer’s perception of a firm’s greed—that is, an inferred negative motive about a firm’s opportunistic intent—that dangerously energizes customer revenge. Perceived greed is found as the most influential cognition that leads to a customer desire for revenge, even after accounting for well studied cognitions (i.e., fairness and blame) in the service literature. Second, we make a critical distinction between direct and indirect acts of revenge because these sets of behaviors have different repercussions—in “face-to-face” vs. “behind a firm’s back”—that call for different interventions. Third, our extended model specifies the role of customer perceived power in predicting these types of behaviors. We find that power is instrumental—both as main and moderation effects—only in the case of direct acts of revenge (i.e., aggression and vindictive complaining). Power does not influence indirect revenge, however. Our model is tested with two field studies: (1) a study examining online public complaining, and (2) a multi-stage study performed after a service failure.
396 citations
TL;DR: It is suggested that a dual strategy is needed in order to retain nurses within the profession: a decrease in job demands, coupled with an increase in available job resources.
386 citations
TL;DR: Examination of user participation in information systems security risk management and its influence in the context of regulatory compliance via a multi-method study at the organizational level suggests that users may be an important resource to IS security by providing needed business knowledge that contributes to more effective security measures.
Abstract: This paper examines user participation in information systems security risk management and its influence in the context of regulatory compliance via a multi-method study at the organizational level. First, eleven informants across five organizations were interviewed to gain an understanding of the types of activities and security controls in which users participated as part of Sarbanes-Oxley compliance, along with associated outcomes. A research model was developed based on the findings of the qualitative study and extant user participation theories in the systems development literature. Analysis of the data collected in a questionnaire survey of 228 members of ISACA, a professional association specialized in information technology governance, audit, and security, supported the research model. The findings of the two studies converged and indicated that user participation contributed to improved security control performance through greater awareness, greater alignment between IS security risk management and the business environment, and improved control development. While the IS security literature often portrays users as the weak link in security, the current study suggests that users may be an important resource to IS security by providing needed business knowledge that contributes to more effective security measures. User participation is also a means to engage users in protecting sensitive information in their business processes.
374 citations
TL;DR: In this article, the authors examine the process linking human resource practices and organizational commitment and superior rating performance, and find that the sole implementation of HRM practices, however innovative they may be, does not suffice to improve behavioral performance.
Abstract: Taking the social exchange perspective, we examine the process (black box) linking human resource practices and organizational commitment and superior rating performance. Using procedural justice, organizational support and trust, as relational exchange mechanisms, we evaluate which such complex psychological states mediate the relationship between HRM practices and performance. On the basis of a sample of 1,219 employees from a Canadian hospital, our results indicate that HRM practices can stimulate greater in-role and extra-role performance if they are perceived as signs of support and procedural justice. Consequently, we find that that the sole implementation of HRM practices, however innovative they may be, does not suffice to improve behavioral performance. Our study thus contributes to a better understanding of the ‘black box’ phenomenon that links HRM practices to organizational performance indices. Because of the number of psychological states studied, our research enriches knowledge of the social...
254 citations
TL;DR: In this paper, the authors identify four key power resources: internal solidarity, network embeddedness, narrative resources that frame understandings and union actions; and infrastructural resources (material, human, processes, policies and programmes).
Abstract: Power is at the core of current debates over the future of trade unionism. This article provides a framework to assess the power resources and strategic capabilities central to union capacity building. We identify four key power resources: internal solidarity; network embeddedness; narrative resources that frame understandings and union actions; and infrastructural resources (material, human, processes, policies and programmes). Resources alone are not enough; unions must also be capable of using them. We identify four strategic capabilities: intermediating between contending interests to foster collaborative action and to activate networks; framing; articulating actions over time and space; and learning. Much experimentation and research on the interactions between these resources and capabilities in particular contexts is required to advance our understanding of the renewal of union power.
246 citations
TL;DR: Although home telemonitoring appears to be a promising approach to patient management, designers of future studies should consider ways to make this technology more effective as well as controlling possible mediating variables.
Abstract: Background: Home telemonitoring figures among the various solutions that could help attenuate some of the problems associated with aging populations, rates of chronic illness, and shortages of health professionals. Objective: The primary aim of this study was to further our understanding of the clinical effects associated with home telemonitoring programs in the context of chronic diseases. Results: In all, 62 empirical studies were analyzed. The results from studies involving patients with diabetes indicated a trend toward patients with home telemonitoring achieving better glycemic control. In most trials in which patients with asthma were enrolled, results showed significant improvements in patients' peak expiratory flows, significant reductions in the symptoms associated with this illness, and improvements in perceived quality of life. Virtually all studies involving patients with hypertension demonstrated the ability of home telemonitoring to reduce systolic and/or diastolic blood pressure. Lastly, due to the equivocal nature of current findings of home telemonitoring involving patients with heart failure, larger trials are still needed to confirm the clinical effects of this technology for these patients. Conclusions: Although home telemonitoring appears to be a promising approach to patient management, designers of future studies should consider ways to make this technology more effective as well as controlling possible mediating variables.
Posted Content•
TL;DR: In this paper, the influence of Internet experience and web atmospherics on consumer online behavior was examined, and a model of web navigation behavior where antecedent variables drove website exploratory behavior and website involvement, which in turn, drove site attitudes and pre-purchase evaluations.
Abstract: This research examined the influence of Internet experience and web atmospherics on consumer online behavior. It developed a model of web navigation behavior where these antecedent variables drove website exploratory behavior and website involvement, which in turn, drove site attitudes and pre-purchase evaluations. These relationships were tested and confirmed in the context of a pharmaceutical website. Further, men and women differed in web navigation behavior, with men engaging in less exploratory behavior and developing less website involvement than women. However, across the two sexes, entertainment, challenge, and effectiveness of information content were the key drivers of website attitudes. The findings provide several guidelines for online communication strategy.
TL;DR: A set of percentile criteria that are conceptually natural and representative of the trade-off between optimistic and pessimistic views of the question are presented and the use of these criteria under different forms of uncertainty for both the rewards and the transitions is studied.
Abstract: Markov decision processes are an effective tool in modeling decision making in uncertain dynamic environments. Because the parameters of these models typically are estimated from data or learned from experience, it is not surprising that the actual performance of a chosen strategy often differs significantly from the designer's initial expectations due to unavoidable modeling ambiguity. In this paper, we present a set of percentile criteria that are conceptually natural and representative of the trade-off between optimistic and pessimistic views of the question. We study the use of these criteria under different forms of uncertainty for both the rewards and the transitions. Some forms are shown to be efficiently solvable and others highly intractable. In each case, we outline solution concepts that take parametric uncertainty into account in the process of decision making.
TL;DR: In this article, the authors present an anatomy of the creative city and an understanding of the emergence and formation of creative processes in these particular local ecologies of knowledge, by defining three different layers (the upperground, the middleground and the underground) as the basic components of the creativity processes in local innovative milieus.
Abstract: The aim of this contribution is to depict and analyze the dynamics of situated creativity by presenting an anatomy of the creative city and an understanding of the emergence and formation of creative processes in these particular local ecologies of knowledge. We propose to study the anatomy of the creative city by defining three different layers—the upperground, the middleground and the underground—as the basic components of the creative processes in local innovative milieus. Each one of these layers intervenes with specific characteristics in the creative process, and enables new knowledge to transit from an informal micro-level to a formal macro-level. In order to illustrate this point of view, the creative city of Montreal is analyzed through two main case studies: Ubisoft and the Cirque du Soleil.
TL;DR: Investigations of mechanisms of action of biguanides have revealed considerable complexity and have identified important gaps in knowledge that should be addressed to ensure the optimal design of clinical trials of these agents.
Abstract: Retrospective studies that may be impractical to confirm prospectively suggest that diabetics treated with metformin have a substantially reduced cancer burden compared with other diabetics. It is unclear if this reflects a chemopreventive effect, an effect on transformed cells, or both. It also remains to be established if these data have relevance to people without diabetes. Laboratory models, however, provide independent impressive evidence for the activity of metformin and other biguanides in both cancer treatment and chemoprevention. Investigations of mechanisms of action of biguanides have revealed considerable complexity and have identified important gaps in knowledge that should be addressed to ensure the optimal design of clinical trials of these agents. Such trials may define important new indications for biguanides in the prevention and/or treatment of many common cancers.
TL;DR: In this article, the authors argue that corporate social responsibility (CSR) may contribute to product differentiation in export markets and thus improve export performance, by observing a period of decreasing export competitiveness in a leading emerging economy (Brazil).
Abstract: This article argues that corporate social responsibility (CSR) may contribute to product differentiation in export markets and thus improve export performance. We test this argument by observing a period of decreasing export competitiveness in a leading emerging economy (Brazil). Using a large-scale survey design with 252 questionnaires completed by medium- and large-sized Brazilian exporters, we used structural equations modelling to test our hypotheses. The results suggest that CSR product differentiation predicts export performance better than product quality differentiation and almost as well as product innovation differentiation. Multi-group analysis further revealed that the positive and significant effect of CSR product differentiation on export performance is likely to be contingent on the number and type (developing vs. developed) of countries that are targeted. Our study contributes to the literature on CSR and export performance by developing and empirically validating a model that explains under which conditions CSR-based product differentiation may lead to improved export performance.
TL;DR: This article explored the effect of governance on bond yield-spreads and ratings in a multinational sample of firms and found strong evidence that ultimate ownership (i.e., the voting/cash-flow rights wedge) and family control have a positive and significant effect on bond yields and ratings.
Abstract: We explore the effect of governance on bond yield-spreads and ratings in a multinational sample of firms. We find strong evidence that ultimate ownership (i.e., the voting/cash-flow rights wedge) and family control have a positive and significant effect on bond yield-spreads, and a negative and significant effect on bond ratings. Control in the hands of widely held financial firms has a positive effect on bond ratings only , while State control has no effect on either bond yield-spreads or ratings. We also find that a higher protection of debtholders’ rights generally reduces bond yield-spreads and increases bond ratings. Our results additionally show that, for both bondholders and rating agencies, the enforcement of debt laws is crucially important. Finally, we document a negative effect of debt covenants on debt costs when there is a high expropriation risk and poor creditor rights protection.
TL;DR: In this paper, the authors conduct a simulation study to evaluate the relative performance of these three approaches in terms of parameter recovery under different experimental conditions of sample size, data distribution, and model specification.
Abstract: Traditionally, two approaches have been employed for structural equation modeling: covariance structure analysis and partial least squares. A third alternative, generalized structured component analysis, was introduced recently in the psychometric literature. The authors conduct a simulation study to evaluate the relative performance of these three approaches in terms of parameter recovery under different experimental conditions of sample size, data distribution, and model specification. In this study, model specification is the only meaningful condition in differentiating the performance of the three approaches in parameter recovery. Specifically, when the model is correctly specified, covariance structure analysis tends to recover parameters better than the other two approaches. Conversely, when the model is misspecified, generalized structured component analysis tends to recover parameters better. Finally, partial least squares exhibits inferior performance in parameter recovery compared with ...
TL;DR: Results show that the heuristic procedure proposed is capable of handling the dynamic aspect of the problem and of providing high-quality solutions and succeeded in reducing waiting times for patients while using fewer vehicles.
Abstract: This study analyzes and solves a patient transportation problem arising in large hospitals. The aim is to provide an efficient and timely transport service to patients between several locations in a hospital campus. Transportation requests arrive in a dynamic fashion and the solution methodology must therefore be capable of quickly inserting new requests in the current vehicle routes. Contrary to standard dial-a-ride problems, the problem under study includes several complicating constraints which are specific to a hospital context. The study provides a detailed description of the problem and proposes a two-phase heuristic procedure capable of handling its many features. In the first phase a simple insertion scheme is used to generate a feasible solution, which is improved in the second phase with a tabu search algorithm. The heuristic procedure was extensively tested on real data provided by a German hospital. Results show that the algorithm is capable of handling the dynamic aspect of the problem and of providing high-quality solutions. In particular, it succeeded in reducing waiting times for patients while using fewer vehicles.
TL;DR: In this paper, identical and fraternal twins' complete financial portfolios were used to decompose the cross-sectional variation in investor behavior and found that a genetic factor explains about one third of the variance in stock market participation and asset allocation.
Abstract: Using data on identical and fraternal twins' complete financial portfolios, we decompose the cross-sectional variation in investor behavior. We find that a genetic factor explains about one third of the variance in stock market participation and asset allocation. Family environment has an effect on the behavior of young individuals, but this effect is not long-lasting and disappears as an individual gains experiences. Frequent contact among twins results in similar investment behavior beyond a genetic factor. Twins who grew up in different environments still display similar investment behavior. Our interpretation of a genetic component of the decision to invest in the stock market is that there are innate differences in factors affecting effective stock market participation costs. We attribute the genetic component of asset allocation - the relative amount invested in equities and the portfolio volatility - to genetic variation in risk preferences.
TL;DR: In this article, the authors used a multilevel framework to investigate the relationship between individual perceptions of transformational leadership and team-level adaptive performance in the aerospace industry. And they found that a stronger climate for innovation would enhance the association between transformational leaders and adaptive performance at the individual level.
Abstract: Using a multilevel framework, we hypothesized that (a) individual perceptions of transformational leadership and (b) team-level transformational leadership climate would be positively related to individual adaptive performance. We also hypothesized that a stronger climate for innovation would enhance the association between transformational leadership and adaptive performance at the individual level. Hierarchical linear modeling conducted on data collected from 120 employees belonging to 35 teams and their managers in an organization operating in the aerospace industry confirmed our predictions. The significance and relevance of these findings for future research on transformational leadership and adaptive performance are discussed.
TL;DR: A survey of the literature which utilizes dynamic state-space games to formulate and analyze intertemporal, many decision-maker problems in the economics and management of pollution is provided in this article.
Abstract: The paper provides a survey of the literature which utilizes dynamic state-space games to formulate and analyze intertemporal, many decision-maker problems in the economics and management of pollution.
TL;DR: In this article, the authors examine the practice of leadership in organizations characterized by ambiguous authority relationships and examine leadership as a practical activity focusing particularly on its dynamic, collective, situated, and dialectical nature.
Abstract: This article examines the practice of leadership in organizations characterized by ambiguous authority relationships. Drawing on three empirical case studies illustrative of a long-term research program on change in health care organizations, we examine leadership as a practical activity focusing particularly on its dynamic, collective, situated, and dialectical nature. We invite researchers on leadership to look carefully at the embeddedness of leadership roles in context and at the type and consequences of practices that leaders develop in such contexts. Implications of these ideas for further research and for would-be leaders are discussed.
TL;DR: Results of regression analysis showed that supervisor and coworker support have an additive effect on affective commitment, and the importance of taking into account contingent factors in the study of antecedents of Affective commitment to the organization is reinforced.
Abstract: This study investigated whether both supervisor and coworker support may be positively related to affective commitment to the organization on one hand; and on the other hand, it examined the moderating effect of job resource adequacy and ambient conditions on these relationships. The sample included 215 participants working within a health care organization. Results of regression analysis showed that supervisor and coworker support have an additive effect on affective commitment. Hierarchical regression analyses indicated that supervisor and coworker support are more strongly related to affective commitment when job resource adequacy is high. Furthermore, ambient conditions moderate the relationship between supervisor support and affective commitment in such a way that favorable ambient conditions strengthen this relationship. Overall, these findings reinforce the importance of taking into account contingent factors in the study of antecedents of affective commitment to the organization.
TL;DR: In this article, a construction heuristic and an adaptive large neighborhood search heuristic for the technician and task scheduling problem arising in a large telecommunications company were proposed, which tied for second place in the 2007 ROADEF challenge.
Abstract: This paper proposes a construction heuristic and an adaptive large neighborhood search heuristic for the technician and task scheduling problem arising in a large telecommunications company. This problem was solved within the framework of the 2007 challenge set up by the French Operational Research Society (ROADEF). The paper describes the authors' entry in the competition which tied for second place.
TL;DR: In this paper, the authors take into account just who the other person is as well as the level of identification that a shopper has with the shopping environment (high vs. low identification) and show that when the consumer identifies highly with a shopping environment, s/he finds more enjoyment and value shopping alone than with a family member.
TL;DR: The proposed method is tested on instances inspired from real-world problems faced by a major energy company and successfully solves the LNG inventory routing problem by a branch-and-price method.
Abstract: We consider a maritime inventory routing problem in the liquefied natural gas (LNG) business, called the LNG inventory routing problem (LNG-IRP). Here, an actor is responsible for the routing of the fleet of special purpose ships, and the inventories both at the liquefaction plants and the regasification terminals. Compared to many other maritime inventory routing problems, the LNG-IRP includes some complicating aspects such as (1) a constant rate of the cargo evaporates each day and is used as fuel during transportation; (2) variable production and consumption of LNG, and (3) a variable number of tanks unloaded at the regasification terminals. The problem is solved by a branch-and-price method. In the column generation approach, the master problem handles the inventory management and the port capacity constraints, while the subproblems generate the ship route columns. Different accelerating strategies are implemented. The proposed method is tested on instances inspired from real-world problems faced by a major energy company.
TL;DR: In this paper, the authors analyse further the governance-performance relationship while improving on two methodological issues: control for endogeneity and firm performance measurement, and show that better governed firms are more efficient.
Abstract: The objective of this study is to analyse further the governance–performance relationship while improving on two methodological issues: control for endogeneity and firm performance measurement. To mitigate the endogeneity problem, we first focus on subsamples of firms for which we ex ante expect better corporate governance to cause better performance. Second, we use generalized least squares regressions for panel data. To control for potential measurement bias, we measure firm performance using data envelopment analysis (DEA). The research is conducted in Canada over a five-year period from 2001 to 2005. Corporate governance is measured based on the Report on Business corporate governance index published by the Globe and Mail. Overall, the results show that better governed firms are more efficient. This study is in line with a growing number of recent studies that propose alternative measures of firm performance. By using DEA, this study brings together the corporate finance and productivity literature.
TL;DR: In this article, the authors explore the underlying practices whereby rationality is achieved within organizations and reveal the complex and fragile socio-technical infrastructure underlying the craft of rationality, the central role of calculability, and various forms of bricolage that decision analysts deploy to make rational decisions happen.
Abstract: This paper explores the underlying practices whereby rationality — as defined in rational choice theory — is achieved within organizations. The qualitative coding of 58 case study reports produced by decision analysts, working in a wide range of settings, highlights how organizational actors can make decisions in accord with the axioms of rational choice theory. Our findings describe the emergence of ‘decision-analysis’ as a field and reveal the complex and fragile socio-technical infrastructure underlying the craft of rationality, the central role of calculability, and the various forms of bricolage that decision analysts deploy to make rational decisions happen. Overall, this research explores the social construction of rationality and identifies the practices sustaining the performativity of rational choice theory within organizations.
TL;DR: In this article, the authors used patent citation data to analyze the economic and technological importance of innovations in family-managed firms and found that companies with an entrepre-neurial orientation receive more patent citations when compared to other firms, even controlling for R&D spending.
Abstract: Prior research has analyzed R&D spending in family and founder firms. Yet, little is known about the economic and technological importance of innovations in these types of firms. Using patent citation data, we show that founder-managed firms, which we argue favor an entrepre-neurial orientation, receive more patent citations when compared to other firms, even controlling for R&D spending. By contrast family-managed firms, many of which, we argue, pursue socio-emotional wealth for the family, receive fewer patent citations compared to other firms, again, controlling for R&D spending. Patent citations have been shown in the literature to reflect the economic and technological importance of innovations.