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Recent Journal Publications by COB Faculty

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Academic Journal
Management

“Time after Time: A daily diary examination of leadership’s sequential impact on flow experiences”

We examine the nexus of leadership and flow through the lens of two inherently positive psychological leadership approaches. In so doing, we examine how leaders can craft conditions to make work more conducive to followers’ flow, and the beneficial effects this has on well-being and performance. Data were collected from 40 employees who completed an initial survey and subsequent daily surveys over two weeks (273 data points). Results from hierarchical linear modeling (level-1 days; level-2 persons) suggest that transformational leaders and leader-member exchange (LMX) relationships impact employees’ work characteristics, subsequently impacting daily flow. In turn, followers’ daily flow predicted daily psychological well-being and performance on subsequent days, further evidencing the downstream importance of flow-facilitative leader behaviors. Both transformational leadership and LMX were also found to predict psychological well-being through leaders’ impact on flow preconditions and flow itself in a full multi-stage mediation model.
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Academic Journal
Finance

“Time variability in market risk aversion”

We adopt realized covariances to estimate the coefficient of risk aversion across portfolios and through time. Our approach yields second moments that are free from measurement error and not influenced by a specified model for expected returns. Supporting the permanent income hypothesis, we find risk aversion responds to consumption smoothing behavior. As income increases, or as the ratio of consumption-to-income falls, relative risk aversion decreases. We also document variation in risk aversion across portfolios: risk aversion is highest for small and value portfolios.
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