Summary The cross‐section average (CA) augmentation approach of Pesaran (A simple panel unit root test in presence of cross‐section dependence. Journal of Applied Econometrics 2007; 22: 265–312) and Pesaran et al. (Panel unit root test in the presence of a multifactor error structure. Journal of Econometrics 2013; 175: 94–115), and the principal components‐based panel analysis of non‐stationarity in idiosyncratic and common components (PANIC) of Bai and Ng (A PANIC attack on unit roots and cointegration. Econometrica 2004; 72: 1127–1177; Panel unit root tests with cross‐section dependence: a further investigation. Econometric Theory 2010; 26: 1088–1114) are among the most popular ‘second‐generation’ approaches for cross‐section correlated panels. One feature of these approaches is that they have different strengths and weaknesses. The purpose of the current paper is to develop PANICCA, a combined approach that exploits the strengths of both CA and PANIC. Copyright © 2015 John Wiley & Sons, Ltd.

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Purpose This paper aims to provide an overview of the development of learning organization concepts from the perspective of Dr Peter Senge and presents an interesting evolution of his systems oriented view of the learning organization field over three decades. Design/methodology/approach Through a conversation with a thought leading scholar, Dr Peter Senge, this paper discusses several topics pertaining to the evolution of the learning organization through a systems approach and provides his perspectives on the development of his theories. Findings Dr Senge explains his origination of the learning organization from three distinctly different theoretical tracks. However, more important than the theory, he illuminates how the theories embedded within The Fifth Discipline actually originated from action research and have continued to evolve. Of particular interest, his sites personal mastery as the most often cited of the five disciplines and offers readers explanations as to why the personal change dimensions are so important, and so often neglected. He clearly describes what it takes to make genuine progress in becoming a learning organization. Originality/value The discussion with Dr Senge reveals his perspective on the evolution of the learning organization debate from his personal perspective. He provides insights that lead the reader to understand “what is a learning organization” and “what does it mean”.

In this article, we consider the properties of the Pesaran CD test for cross-section correlation when applied to residuals obtained from panel data models with many estimated parameters. We show that the presence of period-specific parameters leads the CD test statistic to diverge as the time dimension of the sample grows. This result holds even if cross-section dependence is correctly accounted for and hence constitutes an example of the incidental parameters problem. The relevance of this problem is investigated for both the classical two-way fixed-effects estimator and the Common Correlated Effects estimator of Pesaran. We suggest a weighted CD test statistic which re-establishes standard normal inference under the null hypothesis. Given the widespread use of the CD test statistic to test for remaining cross-section correlation, our results have far reaching implications for empirical researchers.

Purpose This paper aims to provide an overview of the development of learning organization concepts from the perspectives of Dr Victoria Marsick and Dr Karen Watkins and presents an interesting evolution of their work together spanning over three decades. Design/methodology/approach Through a conversation with thought-leading scholars Dr Victoria Marsick and Dr Karen Watkins, this paper discussed serval topics pertaining to the evolution of the learning organization debate and provides their unique perspective on the development of their theories. Findings The learning organization debate has many foundations that today have led to differing perspectives, which Dr Marsick and Dr Watkins advocate. They developed their learning organization concepts from their particular background, which varies from others. To these thought leaders, cultural aspects are the critical focus of the learning organization. Originality/value The discussion with Victoria Marsick and Karen Watkins reveals their understanding of the evolution of the contested discussion around learning organization definition and implications. The understanding of this evolution, in their words, provides context for researchers and practitioners.