Defeating the Minotaur: The Construction of CEO Charisma on the US Stock Market

2006 ◽  
Vol 27 (6) ◽  
pp. 811-832 ◽  
Author(s):  
Angelo Fanelli ◽  
Nora Ilona Grasselli
Keyword(s):  
Stock Market ◽  
Charismatic Leadership ◽  
Top Down ◽  
Active Involvement ◽  
Securities Analysts ◽  
The Us ◽  
Organizational Symbolism ◽  
The Usa ◽  
Ceo Successions ◽  
Securities Analyst

This paper illustrates the construction of CEO charisma within the US stock market. By metaphorically employing the myth of the Minotaur, we discuss three forces underlying the rise of heroic CEO images in the USA: Ariadne, or charismatic leadership theory and its formulation of charisma; Theseus, or the CEOs struggling to obtain power over stock market actors; and the Minotaur, or the stock market itself and the securities analyst profession. Building on the literature on organizational symbolism, we present a qualitative study of two CEO successions, focusing on the form and content of the persona and the vision projected by CEOs and elaborated by securities analysts. The results suggest that jointly constructing charisma through discourse, CEOs and analysts enact a form of power that does not lie in top-down coercion, but rather on the emergent, active involvement and contribution of its very subjects.

Intensity of shock transmission amid US-BRICS markets

2015 ◽  
Vol 10 (3) ◽  
pp. 311-328 ◽  
Author(s):  
P. Lakshmi ◽  
S. Visalakshmi ◽  
Kavitha Shanmugam
Keyword(s):  
Stock Market ◽  
Granger Causality ◽  
Stock Markets ◽  
Subprime Mortgage ◽  
Content Type ◽  
Brics Countries ◽  
Long Run ◽  
The Us ◽  
The Usa ◽  
Short Run

Purpose – The purpose of this paper is to analyze the intensity of transmission of shocks from USA to BRICS countries in the long-run and short-run deviations and swiftness of recovery during US subprime mortgage crisis. This analysis enables the authors to explore the evolving patterns of relationships between these markets and examine whether their co-movements altered either in response to international shocks that originated in advanced markets like USA or due to their domestic fluctuations. Design/methodology/approach – Employing data of daily stock market indices (open and close) of BRICS countries for the period January 2, 2001 to May 31, 2012, this paper examines the interactions and characteristics of price movements of BRICS with US market by applying co-integration tests, vector error correction model and Granger causality relationship. The daily stock market indices data are derived from respective stock exchange web sites. Findings – The results exhibit that both long-run co-integration relationships and short-run Granger causality relationships exist between the stock markets of US-BRICS. Furthermore, this nexus is amplified in the short-run during 2007-2009, when the subprime mortgage financial crisis in the USA cropped up. This finding lends support to the prominence of developed (US) market links in the proliferation of persistent co-movements of BRICS stock markets. Research limitations/implications – The findings imply an increasing degree of global market integration due to quick dissemination of global shocks originating from developed market like USA, and swift recovery which can be attributed to the increased resilience, consistent with the moderated level of domestically driven risk in the BRICS markets. In spite of their similarities, long-run and short-run interdependences with the US stock market exhibit differences among the BRICS. This can be attributed to the regional heterogeneity in long-run risk and return co-movements with the USA. Practical implications – Changes from the US index easily affect these stock markets in the short-run, which implies that the US index may act as a leading indicator for investing funds in BRICS markets. Originality/value – This study would enable the authors to understand whether BRICS economies actually remain resilient to adverse developments in USA and could serve as alternative investment destinations for global portfolio diversification.

The Economic Impact of University Technologies

2005 ◽  
Vol 19 (3) ◽  
pp. 217-220 ◽  
Author(s):  
Alfred R. Berkeley
Keyword(s):  
Technology Transfer ◽  
Stock Market ◽  
Economic Impact ◽  
Annual Meeting ◽  
Vice Chairman ◽  
The Past ◽  
The Us ◽  
The Usa ◽  
Technology Managers

This article is an edited version of a speech given by Alfred R. Berkeley, former President and Vice-Chairman of the NASDAQ Stock Market Inc, as part of the 30th anniversary celebrations of the US Association of University Technology Managers (AUTM) during the 2004 AUTM Annual MeetingSM. The article stresses the increasingly important role of technology transfer in the economic and social futures of the USA and points up lessons for technology transfer professionals from the key changes and policy decisions that have driven the development of America's capital markets over the past few decades.

scholarly journals Transformation of the Latino image in Western culture (based on the analysis of American mass media)

2020 ◽  
Vol 2 (4) ◽  
pp. 28-42
Author(s):  
E. S. Golousova
Keyword(s):  
New York ◽  
Digital Media ◽  
Rapid Development ◽  
Real Life ◽  
New York Times ◽  
Political Life ◽  
Active Involvement ◽  
The Us ◽  
The Usa ◽  
The Media

With rapid development of Latino communities and their members’s active involvement in the US social and political life the attitudes toward Latinos (Hispanics) have changed, both from the outside and the inside. The Latino people themselves came to realize their self-identification and, consecutively, the portrayal of Latinos in the media has been altered. In this paper the author argues, that the range of Latino stereotypes has become wider today and that the model that used to work decades ago in picturing Latino migrants is no longer relevant. Thus, the main goal of the study is to mark out and describe the changes that have occurred in the US media regarding the images of ‘Latinos’ (/Latinas). Comparative analysis is the key method in addition to the content analysis of media publications. The empirical basis consists of 80 publications, including digital media footage, published in 2016-2020 (both in English and Spanish languages) – such as the New York Times, The Time, The Washington Post, El Opinion, etc. These newspapers and magazines are considered to be highly influential as they set the agenda, shape the opinion and affect public consciousness. The material of the study also comprises 20 TV episodes related to the coverage of Hispanic issues in the USA. Having analyzed the media content related to the Latino issue (mainstream media, online sources, TV footage), the author comes to a conclusion that the number of roles that are attributed to the Latinos/Latinas has increased significantly and the today’s narrative to a larger degree is aligned with the changes occurring in real life of the Latino community.

scholarly journals Heterogeneous firm-level responses to the US 2018 tariff announcement

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yafeng Qin ◽  
Zikai Yang ◽  
Min Bai
Keyword(s):  
Hong Kong ◽  
Stock Market ◽  
Mainland China ◽  
Chinese Stock Market ◽  
Firm Level ◽  
Content Type ◽  
Us Economy ◽  
The Us ◽  
The Usa ◽  
The Impact

PurposeThis study examines the impact of the $60 billion tariff announcement of the US government on the Chinese exporting firms. In particular, it focuses on the firms whose revenues are highly dependent on the US economy.Design/methodology/approachThis study uses an experimental analysis and the event study methodology. The sample includes firms listed in mainland China and Hong Kong Stock Exchanges that have the highest revenues from exporting to the USA. The data are obtained from China Stock Market and Accounting Research (CSMAR) and DataStream.FindingsThe authors find that the tariff announcement has significantly negative impacts on stock performance both before and after the announcement, and the impacts are heterogeneous across all sample firms. For A shares listed in Mainland China, firms with more revenues from the US experience greater price drops on the announcement day, regardless of being in the targeted industry or not. But such finding is absent from H shares listed in Hong Kong. The authors also find that for all the firms, greater pricing power can alleviate the impacts of the tariff announcement.Research limitations/implicationsThe results provide implications to investors, policymakers and regulators on the further US-China cooperation in the future.Originality/valueThis is the first study documenting the heterogeneity of the impact of the tariff announcement and thus contributes to the prosperous studies on the varied firm-level responses in the Chinese stock market, and to the burgeoning literature by filling the gap of the financial market responses to the protectionist policy announcement.

scholarly journals Effect of money supply on the Dow Jones Industrial Average stock index

2012 ◽  
Vol 60 (2) ◽  
pp. 399-408
Author(s):  
Martin Širůček
Keyword(s):  
Stock Market ◽  
Money Supply ◽  
Asset Prices ◽  
Share Price ◽  
Stock Index ◽  
Price Indices ◽  
Monetary Aggregate ◽  
Dow Jones Industrial Average ◽  
The Us ◽  
The Usa

This focus of this paper are the effects and implications of a change in the money supply for share price indices in the USA during 1959–2011. The money supply will be measured by the M2 and MZM aggregates (money with zero maturity). The US stock market is represented by the Dow Jones Industrial Average index. The objective of this paper is to find, describe and evaluate the effects of changes to the money supply (M2 and MZM) on the US stock market. A partial objective of this paper is to determine whether a change in the monetary aggregate shows in the stock index immediately or with a delay of several weeks. Another aim is to determine whether asset prices influence the money supply.

scholarly journals The power of signaling: presidential leadership and rhetoric over 20 years

2017 ◽  
Vol 38 (5) ◽  
pp. 662-678
Author(s):  
Timothy Kiessling ◽  
Thomas M. Martin ◽  
Burze Yasar
Keyword(s):  
Stock Market ◽  
Past Research ◽  
Stock Market Volatility ◽  
Content Type ◽  
The Us ◽  
The Usa ◽  
Research Findings ◽  
Negative Statements ◽  
The Impact ◽  
Autoregressive Conditional Heteroscedasticity

Purpose The purpose of this paper is to explore the power of leadership rhetoric with a theoretical foundation of signaling theory. Past research mostly focus on followers and not other stakeholders and the authors attempt to fill that research gap. Design/methodology/approach The research explored nearly 20 years and 51,500 pages of information from US presidents and explored the impact on stock market volatility using generalized autoregressive conditional heteroscedasticity. Findings The research findings suggest that leaders can/do have a powerful impact on stakeholders. In particular negative statements will cause the greatest reaction due to risk adverse stockholders, neutral rhetoric will calm the market and decrease volatility and positive rhetoric was not significant. Research limitations/implications Past research suggests that a focus on the consequences of leadership rhetoric be explored and the research suggests that people do respond to powerful leaders, even if they are not followers. Also the authors filled a gap in regard to the impact of leader communication about economic and marketplace events. Practical implications Practitioners benefit from the research as they can focus upon the US presidents’ rhetoric and strategically apply the research as they can predict the movement of the stock market immediately thereafter. Originality/value Very little research has ever explored the impact of a leader’s rhetoric and the subsequent economic impact, and no one has explored in particular the president’s rhetorical impact (who is considered by many the top leader in the USA).

scholarly journals An Empirical Analysis of the Volatility Spillover Effect between World-Leading and the Asian Stock Markets: Implications for Portfolio Management

2020 ◽  
Vol 13 (10) ◽  
pp. 226
Author(s):  
Imran Yousaf ◽  
Shoaib Ali ◽  
Wing-Keung Wong
Keyword(s):  
Financial Crisis ◽  
Stock Market ◽  
Stock Markets ◽  
Chinese Stock Market ◽  
Stock Market Crash ◽  
Optimal Weights ◽  
Hedge Ratios ◽  
The Us ◽  
The Usa ◽  
Us Financial Crisis

This study employs the Vector Autoregressive-Generalized Autoregressive Conditional Heteroskedasticity (VAR-AGARCH) model to examine both return and volatility spillovers from the USA (developed) and China (Emerging) towards eight emerging Asian stock markets during the full sample period, the US financial crisis, and the Chinese Stock market crash. We also calculate the optimal weights and hedge ratios for the stock portfolios. Our results reveal that both return and volatility transmissions vary across the pairs of stock markets and the financial crises. More specifically, return spillover was observed from the US and China to the Asian stock markets during the US financial crisis and the Chinese stock market crash, and the volatility was transmitted from the USA to the majority of the Asian stock markets during the Chinese stock market crash. Additionally, volatility was transmitted from China to the majority of the Asian stock markets during the US financial crisis. The weights of American stocks in the Asia-US portfolios were found to be higher during the Chinese stock market crash than in the US financial crisis. For the majority of the Asia-China portfolios, the optimal weights of the Chinese stocks were almost equal during the Chinese stock market crash and the US financial crisis. Regarding hedge ratios, fewer US stocks were required to minimize the risk for Asian stock investors during the US financial crisis. In contrast, fewer Chinese stocks were needed to minimize the risk for Asian stock investors during the Chinese stock market crash. This study provides useful information to institutional investors, portfolio managers, and policymakers regarding optimal asset allocation and risk management.

scholarly journals Lithuanian language maintenance in the emigrant family: the case of US

2015 ◽  
pp. 1-30
Author(s):  
Kristina Jakaitė-Bulbukienė
Keyword(s):  
Los Angeles ◽  
Heritage Language ◽  
Formal Education ◽  
Language Maintenance ◽  
Active Involvement ◽  
The Social ◽  
Children's Home ◽  
The Family ◽  
The Us ◽  
The Usa

One of today’s most painful problems of the society of Lithuania is massive emigration, which is often heated debated in different circles of the society. One of the aspects of the problem is concerned with the Lithuanian language: whether or not the language should be maintained. Lithuanian emigrants often complain that their children are not willing to talk with their parents in their native/heritage language. On the other hand, there are many examples when after spending long years in emigration, people are still fluent in their native tongue and/or maintain strong national identity. Thus the paper aims at exploring strategies of how Lithuanian emigrant families maintain the Lithuanian language.The paper analyses the US subset of the data collected during the research project “The Language of Emigrants”. The subset consists of three generations of Lithuanian emigrants. The investigation is based on a quantitative survey (n = 438) and qualitative in-depth semi-standardized interviews (n=15) from the USA (most of them recorded in May 2012 in Los Angeles, CA).The results of the research suggest that successful maintenance of the Lithuanian language has been due to a conscious decision by the members of the family to keep the language as a language of communication in the family and to pass it over to the younger generation. Emotional ties with the native/heritage language are also very important. The investigation has identified the prevalence of the authoritarian management model of language maintenance in those families.No less important is the social environment outside the children’s home domain. Formal education and active involvement in the Lithuanian community are considered significant factors contributing to learning/maintaining the Lithuanian language. Regular trips to Lithuania also help strengthen the sense of ethnic identity.

Measurement Invariance of a Universal Behavioral Screener Across Samples From the USA and Germany

2018 ◽  
Vol 34 (2) ◽  
pp. 87-100 ◽  
Author(s):  
Gino Casale ◽  
Robert J. Volpe ◽  
Brian Daniels ◽  
Thomas Hennemann ◽  
Amy M. Briesch ◽  
...  
Keyword(s):  
Measurement Invariance ◽  
Student Behavior ◽  
Cross Cultural ◽  
Cross Cultural Comparison ◽  
School Based ◽  
Cultural Research ◽  
Universal Screener ◽  
Confirmatory Factor ◽  
The Us ◽  
The Usa

Abstract. The current study examines the item and scalar equivalence of an abbreviated school-based universal screener that was cross-culturally translated and adapted from English into German. The instrument was designed to assess student behavior problems that impact classroom learning. Participants were 1,346 K-6 grade students from the US (n = 390, Mage = 9.23, 38.5% female) and Germany (n = 956, Mage = 8.04, 40.1% female). Measurement invariance was tested by multigroup confirmatory factor analysis (CFA) across students from the US and Germany. Results support full scalar invariance between students from the US and Germany (df = 266, χ2 = 790.141, Δχ2 = 6.9, p < .001, CFI = 0.976, ΔCFI = 0.000, RMSEA = 0.052, ΔRMSEA = −0.003) indicating that the factor structure, the factor loadings, and the item thresholds are comparable across samples. This finding implies that a full cross-cultural comparison including latent factor means and structural coefficients between the US and the German version of the abbreviated screener is possible. Therefore, the tool can be used in German schools as well as for cross-cultural research purposes between the US and Germany.

Sanctions of the USA and the Policy of Bank of Russia:double Blow to the National Economy

2014 ◽  
pp. 13-29 ◽  
Author(s):  
S. Glazyev
Keyword(s):  
National Security ◽  
Economic Sanctions ◽  
Capital Flight ◽  
Practical Advice ◽  
The Us ◽  
Monetary Authorities ◽  
The Usa ◽  
Simultaneous Adoption ◽  
The Eu

This article examines fundamental questions of monetary policy in the context of challenges to the national security of Russia in connection with the imposition of economic sanctions by the US and the EU. It is proved that the policy of the Russian monetary authorities, particularly the Central Bank, artificially limiting the money supply in the domestic market and pandering to the export of capital, compounds the effects of economic sanctions and plunges the economy into depression. The article presents practical advice on the transition from external to domestic sources of long-term credit with the simultaneous adoption of measures to prevent capital flight.

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