Hasil untuk "Personnel management. Employment management"

Collective bargaining has a marginal and steadily diminishing role in employment regulation in Hungary. Flaws in the legal framework are certainly among the main reasons behind low and decreasing coverage. In the light of ILO standards and comparative national examples, this article analyses the Hungarian statutory rules on trade union representativeness and outlines potential reform measures to help reverse the downward trend in coverage. Our aim is to present the Hungarian experience on various aspects of trade union representativeness within a European theoretical framework, which may be of particular interest to labour markets with low union density, especially in Eastern Europe.

Alireza Ghahtarani, Ahmed Saif, Alireza Ghasemi

Asset Liability Management (ALM) represents a fundamental challenge for financial institutions, particularly pension funds, which must navigate the tension between generating competitive investment returns and ensuring the solvency of long-term obligations. To address the limitations of traditional frameworks under uncertainty, this paper implements Distributionally Robust Optimization (DRO), an emergent paradigm that accounts for a broad spectrum of potential probability distributions. We propose and evaluate three distinct DRO formulations: mixture ambiguity sets with discrete scenarios, box ambiguity sets of discrete distribution functions, and Wasserstein metric ambiguity sets. Utilizing empirical data from the Canada Pension Plan (CPP), we conduct a comparative analysis of these models against traditional stochastic programming approaches. Our results demonstrate that DRO formulations, specifically those utilizing Wasserstein and box ambiguity sets, consistently outperform both mixture-based DRO and stochastic programming in terms of funding ratios and overall fund returns. These findings suggest that incorporating distributional robustness significantly enhances the resilience and performance of pension fund management strategies.

Bingzheng Chen, Jan Dhaene, Chun Liu et al.

This paper develops a dynamic equilibrium model of the insurance market that jointly characterizes insurers' underwriting, investment, recapitalization, and dividend policies under model uncertainty and financial frictions. Competitive insurers maximize shareholder value under a subjective worst-case probability measure, giving rise to liquidity-driven underwriting cycles and flight-to-quality behavior. While an equilibrium typically fails to exist in such dynamic liquidity management framework with external financial investment, we show that incorporating model uncertainty restores equilibrium existence under plausible parameter conditions. Moreover, the model uncovers a novel relationship between the correlation of insurance and financial market risks and the equilibrium insurance price: negative loadings may emerge when insurance gains and financial returns are positively correlated, contrary to conventional intuition.

Gunawan Purbowo, Irwan Trinugroho

Objective: We examine the key factors influencing QRIS adoption in rural West Sulawesi, focusing on access to information, infrastructure availability, user perceptions, and financial literacy. Research Design & Methods: We applied a quantitative approach using Partial Least Squares Structural Equation Modeling (PLS-SEM) to analyze survey data from 410 respondents. Constructs were based on the Technology Acceptance Model (TAM) and Unified Theory of Acceptance and Use of Technology (UTAUT). Findings: We found that QRIS adoption is significantly influenced by access to information, infrastructure, and user perceptions. While financial literacy does not have a significant direct effect. Among the control variables, age and education show significant positive relationships with adoption, whereas gender and spending levels have no direct impact. Implications and Recommendations: Improving ICT infrastructure and promoting targeted information campaigns can enhance QRIS adoption. Policymakers should leverage community leaders and educational programs to build trust and positive perceptions, while focusing on younger and educated demographics to act as digital ambassadors. Contribution & Value Added: Our research highlights the critical role of infrastructure, social influence, and user perceptions over financial literacy in driving digital payment adoption, providing actionable insights for enhancing financial inclusion in rural contexts.

معصومه دانش شکیب, مهسا پیشدار

هدف از مطالعة حاضر بررسی اثر سرمایة فکری پایدار بر عملکرد بین‌المللی پایدار با نقش واسطه‌ای قابلیت تاب‌آوری و نوآوری تحول‌آفرین در شرکت‌های کوچک و متوسط است که نقش مهمی در اقتصاد کشورهای مختلف توسعه‌یافته یا در حال توسعه دارند. مطالعة حاضر از نظر هدف کاربردی و از نظر گردآوری داده‌ها از نوع توصیفی و از شاخة پیمایشی است. برای گردآوری اطلاعات، روی شهرک‌ها و ناحیه‌های صنعتی استان قزوین تمرکز شده است. از بین حدود 830 مدیر ارشد شناسایی‌شده، نهایتاً 167 مدیر ارشد پرسشنامه را تکمیل کردند. برای تجزیه ‌و تحلیل داده‌های گردآمده با استفاده از ابزار پرسشنامه، از روش معادلات ساختاری استفاده شد. نتایج حاکی از آن است که سرمایة فکری پایدار با تقویت قابلیت تاب‌آوری و زمینه‌سازی برای نوآوری باز می‌تواند به صورت غیر مستقیم منجر به بهبود عملکرد بین‌المللی پایدار شود. پس می‌توان با تکیه بر سرمایة فکری پایدار و بهره‌گیری از فناوری‌های به‌روز تاب‌آوری را افزایش داد و از فرصت‌های نوآوری بهتر استفاده کرد. مطالعة حاضر از آنجا که عوامل مؤثر در تعالی عملکرد بین‌المللی پایدار را در شرکت‌های کوچک و متوسط شناسایی کرده و می‌تواند باعث صرفه‌جویی در صرف منابع و زمان سازمان برای تحقق عملکرد پایدار در جامعة بین‌المللی شود در نوع خود نوآور است.

Sania Usmani

Orientation: In this article, the role of workplace boredom and moral disengagement was investigated as mediating variables between the job characteristics model and social cyberloafing. Research purpose: Identifying the causes of social cyberloafing will help to understand this counterproductive behaviour and guide employers to develop policies which increase productivity and Internet utilisation. Motivation for the study: Limited study exists on the role of Job Design and Social Cyberloafing particularly with the mediating role of moral disengagement and boredom. this study aims to identify how morals and feelings intervene with the way jobs are designed and their counterproductive outcomes. Research approach/design and method: This study provides one-of-a-kind, in-depth, deconstructed approach to the job characteristics model with 368 samples taken from various industries. Overall, the results of the three-wave data provide strong evidence for the hypothesised relationships. Main findings: This research suggests that lack of skill variety, task identity and task significance affect moral disengagement, workplace boredom and subsequently social cyberloafing. Practical/managerial implications: Managers should pay attention to this problem and prioritise job design, particularly focusing on defining tasks and key performance indicators. Investing in job design yields substantial benefits by fostering a competitive advantage through the cultivation of a diligent, cooperative and loyal workforce. It also plays a crucial role in mitigating employee boredom and moral disengagement, which are significant drivers of social cyberloafing. Contribution/value-add: Various research has highlighted the impact of job design on various outcomes and behaviours. However, most research has not focused on emotion regulation mechanisms incorporating feelings and their relationship between work-individual behaviours. Therefore, this study aims to achieve that in a Pakistani environment.

Gema Ramírez-Guerrero, Alfredo Fernández-Enríquez, Manuel Arcila-Garrido et al.

Tourism development in coastal zones is often guided by marketing strategies focused on promotion, without real integration with the ecological, identity, and planning challenges facing these territories. This disconnection compromises environmental resilience, dilutes local cultural identity, and hinders adaptive governance in contexts of increasing tourism pressure and climate change. In response to this problem, the article presents the concept of Blue Marketing, a place-based, sustainability-oriented approach designed to guide communication, product development, and governance in marine and coastal destinations. Drawing on socio-environmental marketing and inspired by Integrated Coastal Zone Management (ICZM), the study proposes a Blue Marketing Decalogue (BMD), structured into three thematic blocks: (1) Ecosystem-focused sustainability, (2) cultural identity and territorial uniqueness, and (3) strategic planning and adaptive governance. Methodologically, the decalogue is empirically grounded in a territorial diagnosis of the Barbate–Vejer coastal corridor (Cádiz, Spain), developed through Geographic Information Systems (GIS), local planning documents, and field observations. This case study provides a detailed analysis of ecological vulnerabilities, cultural resources, and tourism dynamics, offering strategic insights transferable to other coastal contexts. The BMD incorporates both strategic and normative instruments that support the design of responsible tourism communication strategies, aligned with environmental preservation, community identity, and long-term planning. This contribution enriches current debates on sustainable tourism governance and provides practical tools for coastal destinations aiming to balance competitiveness with ecological responsibility. Ultimately, Blue Marketing is proposed as a vector for transformation, capable of reconnecting tourism promotion with the sustainability challenges and opportunities of coastal regions.

Anwesha Bhattacharyya, Ye Yu, Hanyu Yang et al.

The success of OpenAI's ChatGPT in 2023 has spurred financial enterprises into exploring Generative AI applications to reduce costs or drive revenue within different lines of businesses in the Financial Industry. While these applications offer strong potential for efficiencies, they introduce new model risks, primarily hallucinations and toxicity. As highly regulated entities, financial enterprises (primarily large US banks) are obligated to enhance their model risk framework with additional testing and controls to ensure safe deployment of such applications. This paper outlines the key aspects for model risk management of generative AI model with a special emphasis on additional practices required in model validation.

Kewin Pączek, Damian Jelito, Marcin Pitera et al.

This paper explores the applications of the 20/60/20 rule-a heuristic method that segments data into top-performing, average-performing, and underperforming groups-in mathematical finance. We review the statistical foundations of this rule and demonstrate its usefulness in risk management and portfolio optimization. Our study highlights three key applications. First, we apply the rule to stock market data, showing that it enables effective population clustering. Second, we introduce a novel, easy-to-implement method for extracting heavy-tail characteristics in risk management. Third, we integrate spatial reasoning based on the 20/60/20 rule into portfolio optimization, enhancing robustness and improving performance. To support our findings, we develop a new measure for quantifying tail heaviness and employ conditional statistics to reconstruct the unconditional distribution from the core data segment. This reconstructed distribution is tested on real financial data to evaluate whether the 20/60/20 segmentation effectively balances capturing extreme risks with maintaining the stability of central returns. Our results offer insights into financial data behavior under heavy-tailed conditions and demonstrate the potential of the 20/60/20 rule as a complementary tool for decision-making in finance.

Rudo R. Marozva, Emmerentia N. Barkhuizen, Masase E. Mageza-Mokhethi

Orientation: South African higher education institutions (HEIs) face significant challenges in attracting and retaining younger-generation academics. This results in a critical shortage of a talented pool of scholars required for succession and the sustainability of HEIs over the longer term. Research purpose: This study aimed to explore the factors affecting the retention of millennial academics in South Africa. Motivation for the study: The retention of millennial academics is essential to the success of HEIs. Research on the factors affecting the retention of this cohort of academics is scarce despite their growing importance in sustainable HEI practice. Research approach/design and method: The study adopted a cross-sectional qualitative research approach using semi-structured interviews to collect the data. The sample included 14 millennial academics representing various public HEIs in South Africa. Thematic analyses were applied to analyse the data. Main findings: The findings showed that five factors should be considered to retain millennial academics: career and growth opportunities, work environment, rewards, leadership and work–life balance. Practical/managerial implications: The study concluded that an integrated talent retention strategy should be developed that, at a minimum include opportunities for career development, employee growth, healthy employee–employer relationships, employee support and market-related compensation to retain millennial academics. Contribution/value-add: This research contributes to the limited knowledge of the factors affecting the retention of millennial academics.

Blessing Chabaya, Cookie M. Govender, Herbert Kanengoni

Orientation: The study was conducted in two higher education institutions that underwent insourcing and harmonisation of conditions of employment for support services. Research purpose: This study aims to determine how harmonisation shapes outcomes among support service labour in selected higher education institutions and to develop a management framework to harmonise conditions of employment following insourcing. Motivation for the study: The study capitalises on organisational complexities in higher education institutions that experienced insourcing of support services employees to address concerns assumed to be premised on historical exclusionary and exploitative employment practices. The study documents the experience and perceptions of institutional stakeholders in creating new knowledge on harmonisation following insourcing. Research approach/design and method: Employing a qualitative approach, 16 interviews were conducted with selected multi-level management and personnel directly involved in a harmonisation. Main findings: The study found tangible and intangible aspects, processes and other psychological perspectives on implementing harmonisation across employment levels. Furthermore, it was found that an efficient and effective harmonisation framework is required. Effective harmonisation for inclusion was viewed as being compromised by factors such as government intervention, and a lack of policy, framework and legislation to guide the process. Practical/managerial implications: Practical recommendations are provided for implementing harmonisation strategies following insourcing across employment levels in South African higher education institutions. Contribution/value-add: The study contributes to novel theory on harmonisation after insourcing and provides a management framework for harmonisation of conditions of employment.

Finn Klessascheck, Ingo Weber, Luise Pufahl

Given the continuous global degradation of the Earth's ecosystem due to unsustainable human activity, it is increasingly important for enterprises to evaluate the effects they have on the environment. Consequently, assessing the impact of business processes on sustainability is becoming an important consideration in the discipline of Business Process Management (BPM). However, existing practical approaches that aim at a sustainability-oriented analysis of business processes provide only a limited perspective on the environmental impact caused. Further, they provide no clear and practically applicable mechanism for sustainability-driven process analysis and re-design. Following a design science methodology, we here propose and study SOPA, a framework for sustainability-oriented process analysis and re-design. SOPA extends the BPM life cycle by use of Life Cycle Assessment (LCA) for sustainability analysis in combination with Activity-based Costing (ABC). We evaluate SOPA and its usefulness with a case study, by means of an implementation to support the approach, thereby also illustrating the practical applicability of this work.

Pooja Tiwari, Vikas Garg

Kapil Panda

Portfolio optimization is a task that investors use to determine the best allocations for their investments, and fund managers implement computational models to help guide their decisions. While one of the most common portfolio optimization models in the industry is the Markowitz Model, practitioners recognize limitations in its framework that lead to suboptimal out-of-sample performance and unrealistic allocations. In this study, I refine the Markowitz Model by incorporating machine learning to improve portfolio performance. By using a hierarchical clustering-based approach, I am able to enhance portfolio performance on a risk-adjusted basis compared to the Markowitz Model, across various market factors.

Ju-Hong Lee, Bayartsetseg Kalina, KwangTek Na

Traditional risk-adjusted returns, such as the Treynor, Sharpe, Sortino, and Information ratios, have been pivotal in portfolio asset allocation, focusing on minimizing risk while maximizing profit. Nevertheless, these metrics often fail to account for the distinct characteristics of bull and bear markets, leading to sub-optimal investment decisions. This paper introduces a novel approach called the Market-adaptive Ratio, which was designed to adjust risk preferences dynamically in response to market conditions. By integrating the $ρ$ parameter, which differentiates between bull and bear markets, this new ratio enables a more adaptive portfolio management strategy. The $ρ$ parameter is derived from historical data and implemented within a reinforcement learning framework, allowing the method to learn and optimize portfolio allocations based on prevailing market trends. Empirical analysis showed that the Market-adaptive Ratio outperformed the Sharpe Ratio by providing more robust risk-adjusted returns tailored to the specific market environment. This advance enhances portfolio performance by aligning investment strategies with the inherent dynamics of bull and bear markets, optimizing risk and return outcomes.

M Beheşti Aydoğan

The study’s primary purpose is to reveal the factors affecting the competitiveness of hazelnut agribusiness enterprises. The data used in the research were obtained from surveys with 51 enterprises in Ordu and Giresun provinces, Turkey. The enterprises were divided into competitive and non-competitive with a two-step cluster analysis. Indices were calculated to measure enterprises’ competitiveness, and the t‑test was used to compare enterprises’ characteristics and competitiveness values. The research results indicated that the size of the enterprises, implementation of corporate governance processes, support for personnel development, employment of qualified personnel, differentiated process management, robust information technologies infrastructure, and using e‑commerce applications increased the competitiveness. The research results confirmed that the competitiveness of enterprises was affected not only by financial indicators but also by internal factors within the enterprise. The non-competitive enterprises focused on low-cost production and overlooked other internal and external factors necessary for competitiveness. The hazelnut enterprises could increase their competitiveness by investing in e‑commerce and information technologies infrastructure by prioritizing personnel and corporate management processes.

Rita Judith Ames Guerrero

Given the growing need to establish sustainable human resource management practices, it is critical to explore systems to mitigate personnel short-age, turnover and dissatisfaction indicators. The study of value propositions that generate commitment in high potential collaborators constitutes a strategic resource in the differentiation of the company in the competi-tive labor market. This study explores the influence of recruitment and retention factors and the level of organizational commitment through the analysis of questionnaires applied in two stages to operators of a mineral processing plant in the mining sector ( n = 50). The first stage before ap plying for a job and after a period of 6 months of employment contract. A mixed design using interview format questionnaires allowed us to identify factors of attraction, retention and organizational commitment, by means of Meyer and Allen’s questionnaire. Higher scores in intention to remain in the organization were found in individuals who scored high in the commitment to continuity of employment component, six months after joining the institution. An adequate reliability index was obtained for the talent retention survey (0.76) and organizational commitment (0.80). The results have implications for work practices conducive to people management and monitoring of indicators aligned to attraction, retention and strengthening organizational commitment attitudes. de Investigación científica y tecnológica.

H. Aluko, Ayodele Aluko, Funke Ogunjimi

This paper examined the implications of psychological contract on employee job performance in Ebonyi State University Abakaliki. The paper adopted descriptive research design, based on primary and secondary empirical data exploration to deal concretely with the phenomena of public personnel management as it bothers on psychological contract in employment relations and the implication on employee job performance. The study queried the psychological contract enigma in education service delivery organizations such as Ebonyi State University Abakaliki, Nigeria. Primary data were drawn from structured questionnaire administered on a sample size of 346, with secondary data sourced from empirical academic journals, newspaper publications, other internet materials, etc. In testing the research hypotheses, weighted mean and z-test statistical tools were utilized. In other to depict a clear narrative from the theoretical and empirical point of view, the paper employed the “Social Exchange Theory”, propounded by the renowned American Sociologist George C. Homans (August 11, 1910-May 29, 1989). The paper revealed that the efficient and effective job performance of Ebonyi State University employees has been inhibited by breach of psychological contract, particularly on the part of the employer (i.e., the state government). The paper indicated that psychological contract problem has a serious inefficiency and brain drain implication for the University as well as incapability of the University in delivering on its mandate and mission statement “to provide a conducive atmosphere for teaching, learning, research and rapid development in order to humane work environment (i.e., favorable organizational climate) that would facilitate appropriately remunerated promotions, provide adequate training and opportunities for career advancement, and stimulate a climate that accommodates cooperation, consensus and employees’ participation in decision making.

Antonio L. Leal-Rodríguez, Carlos Sanchís-Pedregosa, Antonio M. Moreno-Moreno

Organizational culture is definitely a transcendental element in terms of the development and smooth running of organizations. However, there are still very few companies that are actively managing it. This is largely due to the inherent difficulty in quantifying such an abstract and ethereal subject as culture and values. Our objective is to present the CFAM method (Cultural Fit Assessment Method), a procedure for measuring organizational and individual culture based on values, as well as the degree of fit between them. This method makes it possible to identify dominant cultural traits in organizations and individuals and then to assess by means of a series of KPIs whether the two fit together in an agile, fast and cost-effective way.

Robert M. Yawson