No abstract

Although leadership is an endlessly debated topic, the influence of leadership on Organizational Efficacy has not been analyzed. Organizational Efficacy, has been shown to vary among organizations (Bohn, 2001, 2002). A question we pose is why Organizational Efficacy would vary, and we suggest that one component would be leadership. This research evaluated several specific aspects of leadership, using Bandura's approach, to assess the relationship between leadership and organizational confidence.

' Marlboro cigarettes are the most popular cigarettes sold in the United States, and sales of full-priced brands of cigarettes such as Marlboro constitute nearly 90% of the profits for Philip Morris's tobacco operations. See In re Philip Morris Sec. Litig., 872 F. Supp. 97, 99 (S.D.N.Y. 1995). 2 See id. 3 Four more suits were filed that same day. The remaining five suits were filed the following business day, Monday, April 5, 1993. See id. at 98. 4 See id. ' Other plaintiffs' attorneys law firms filing suit included Abbey & Ellis and Barrack, Rodos & Bacine. SeeJunda Woo,Judges Show Growing Skepticism in Class-Action Securities Cases, WALL ST. J., Jan. 11, 1995, at B8. ' "Aftermarket" refers to the secondary securities market. For example, trades between investors on the New York Stock Exchange and on NASDAQ are part of the aftermarket. This is distinguished from the primary market which involves the offering of securities from companies directly to investors. In 1994 alone, Milberg, Weiss was among the principal law firms in cases that eventually settled for $295 million. SeeJill Abramson & Amy Stevens, Class-Action Clash: King of "Strike Suits" Finds Style Cramped By Legal-Overhaul Bill, WALL ST. J., Mar. 30, 1995, at Al. " Over 90% of securities class actions eventually end in settlement. See infra part II.A.2 (reporting the disposition of suits in an IPO sample).

No abstract

No abstract