Making Time While Being in Time
A Study of the Temporality of Organizational Processes Pulk, Kätlin
Document Version Final published version
Publication date:
2016
License CC BY-NC-ND
Citation for published version (APA):
Pulk, K. (2016). Making Time While Being in Time: A Study of the Temporality of Organizational Processes.
Copenhagen Business School [Phd]. PhD series No. 43.2016
Link to publication in CBS Research Portal
General rights
Copyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights.
Take down policy
If you believe that this document breaches copyright please contact us (research.lib@cbs.dk) providing details, and we will remove access to the work immediately and investigate your claim.
Download date: 24. Oct. 2022
PhD School in Organisation and Management Studies PhD Series 43.2016
MAKING TIME WHILE BEING IN TIME
COPENHAGEN BUSINESS SCHOOL SOLBJERG PLADS 3
DK-2000 FREDERIKSBERG DANMARK
WWW.CBS.DK
ISSN 0906-6934
Print ISBN: 978-87-93483-50-7 Online ISBN: 978-87-93483-51-4
MAKING TIME WHILE BEING IN TIME
Kätlin Pulk
A STUDY OF THE TEMPORALITY OF ORGANIZATIONAL PROCESSES
0DNLQJ7LPH:KLOH%HLQJLQ7LPH
A study of the temporality of organizational processes
.lWOLQ3XON
6XSHUYLVRUV
7RU+HUQHV3URIHVVRU&RSHQKDJHQ%XVLQHVV6FKRRO
$UH%UDQVWHG$VVRFLDWH3URIHVVRU8QLYHUVLW\&ROOHJHRI6RXWKHDVW1RUZD\
'RFWRUDO6FKRRORI2UJDQLVDWLRQDQG0DQDJHPHQW6WXGLHV 'HSDUWPHQWRI2UJDQLVDWLRQ
&RSHQKDJHQ%XVLQHVV6FKRRO
:RUG&RXQW
Kätlin Pulk
Making Time While Being in Time
A study of the temporality of organizational processes
1st edition 2016 PhD Series 43-2016
© Kätlin Pulk
ISSN 0906-6934
Print ISBN: 978-87-93483-50-7 Online ISBN: 978-87-93483-51-4
The Doctoral School of Organisation and Management Studies (OMS) is an interdisciplinary research environment at Copenhagen Business School for PhD students working on theoretical and empirical themes related to the organisation and management of private, public and voluntary organizations.
All rights reserved.
7DEOHRI&RQWHQWV
ACKNOWLEDGEMENTS...5
INTRODUCTION...7
1.1 Timeasatoolfororganizing...8
1.2 Aspectsoftimeandtemporalityinvestigatedinthecurrentthesis...12
1.3 Empiricalpapersandtheircontribution...14
1.4 Thestructureofthethesis...18
2.APPROACHESTOTIMEINORGANIZATIONALSTUDIES...20
2.1Alineartime...20
2.2Socialtime...22
2.3Attemptstomergeclocktimeandsocialtimeinorganizationalstudies...30
2.4Thepluralityoftimereckoningsystems...27
2.5Aneventbasedtime...29
3. APERIODICVIEWOFTIMEANDITSLIMITATIONS...33
3.1Limitationsandcriticismsofaperiodicviewoftime...34
4. APROCESSUALVIEWOFTIME...39
4.1Temporalitytheinterplaybetweenpastpresentfuture...40
4.2 Timeineventsandeventsintime...43
4.3 Temporalityinthemindfulperformanceofroutines...46
4.4 Sensed(dis)continuityintheflowoftime...51
5. METHODS...62
5.1Methodologicalconstraintsoftemporalresearch...62
5.2Casestudydesignandsampling...65
5.3 Datacollectionandsources...70
6. FIRSTEMPIRICALPAPER:Thepastandthefutureinthenow:Improvisationand routinesastemporalinterplayandthemakingofanimprovisationalevent...75
7.SECONDEMPIRICALPAPER:Mindfulapplicationofroutines–lostinthe outsourcing?...112
8.THIRDEMPIRICALPAPER:Risksandconsequencesoftemporaldiscontinuityin theorganizationalchangeprocess...147
9.IMPLICATIONSANDQUESTIONSFORFUTURERESEARCH...186
9.1 Implications...186
9.2 Questionsforfutureresearch...190
10.CONCLUSION...192
EPILOGE...197
SUMMARY...198
SAMMENFATNING...201
REFERENCES...205
ACKNOWLEDGEMENTS
7KLVWKHVLVILQDOL]HVP\3K'MRXUQH\DWWKH'HSDUWPHQWRI2UJDQL]DWLRQ,W ZRXOGQRWKDYHEHHQSRVVLEOHWRILQLVKWKDWMRXUQH\DORQHZLWKRXWWKHFRQWULEXWLRQ DQGKHOSRIVRPDQ\SHRSOHDURXQGPH
)LUVW , DP GHHSO\ JUDWHIXO WR 0DMNHQ 6FKXOW] DQG 7XERUJIRXQGDWLRQ DQG 3HWHU.M URQEHKDOIRIWKH,2$ZKRSURYLGHGIXQGLQJIRUP\VWXGLHV,ZRXOGOLNH WRWKDQN6LJQH9LNNHOV¡DQG/HQH/LOOHEURIRUWKHLUKHOSLQQHJRWLDWLQJP\FRQWUDFW ZLWKWKH'RFWRUDO6FKRRORI2UJDQL]DWLRQDQG0DQDJHPHQW6WXGLHV,ZRXOGOLNHWR WKDQN WKH GHSDUWPHQW ZKLFK KDV EHHQ IRU PH OLNH DQ LQWHOOHFWXDO UHKDELOLWDWLRQ FHQWHUIRUDOORZLQJPHWRHQMR\LWVDFDGHPLFDOO\YLEUDQWDQGQRXULVKLQJDWPRVSKHUH ZKHQHYHU,KDGDFKDQFHWRVSHQGWLPHDWWKH,2$
0\VSHFLDOWKDQNVDW,2$JRWR7LQD%UXQZKRDOZD\VJUHHWHGPHZLWKDELJ ZDUPKXJDQG-RDQ.QXGVHQZKRGXULQJP\ORQJZRUNLQJVHVVLRQVZKLOHDW,2$
IHGPHZLWKWDVW\VDQGZLFKHVIURPWKHODWHQLJKWPHHWLQJVZKHQHYHUWKHUHZHUH VRPHOHIWRYHUV,ZRXOGOLNHWRWKDQNUHWLUHG,2$SURIHVVRU)OHPPLQJ$JHUVQDSIRU SURYLGLQJVKHOWHUZKHQ,ZDVDW&%6ZLWKRXWDQ\IXQGVDYDLODEOH
0\ JUHDWHVW HYHU JUDWLWXGH ZLOO JR WR P\ PDLQ VXSHUYLVRU 7RU +HUQHV IRU DFFHSWLQJPHDVKLVVWXGHQWDQGIRUHQGXULQJWKHZKROHMRXUQH\GHVSLWHDFRXSOHRI QHDUFDUGLDFFRQGLWLRQV,FDXVHGZLWKP\µFUHDWLYHXVHRI(QJOLVK¶7KDQN\RX7RU IRU\RXUSDWLHQFHJXLGDQFHDQGFRRSHUDWLRQ)RURQHLQWHUHVWHGLQLVVXHVDURXQG WLPHDQGWHPSRUDOLW\LWZRXOGEHKDUGWRILQGDEHWWHUDQGPRUHNQRZOHGJHDEOH VXSHUYLVRUWKDQ\RX,KDYHOHDUQHGDQGGHYHORSHGVRPXFKDWWKHDFDGHPLFOHYHO DQGZLWKRXW\RXUKHOSWKLVSURMHFWZRXOGQRWORRNDVLWORRNVWRGD\
,DPDOVRJUDWHIXOWR0LFKHDO+DDJHQVHQIRUVPRRWKLQJRXWWKHXQQHFHVVDU\
FUHDWLYLW\LQP\XVHRI(QJOLVKDQG.DUVWHQ6WDHKHUIRUWUDQVODWLQJWKH6XPPDU\
LQWR'DQLVK$OVR,ZRXOGOLNHWRWKDQN,GD'DQQHVNLROG6DPV¡HIRUFKHFNLQJDQG UHYLVLQJWKHVSHFLDOWHUPVLQWKH'DQLVK6XPPDU\
0\ JUDWLWXGH JRHV WR -HQQ\ +HOLQ DQG 5RELQ +ROW IRU WKHLU FRQVWUXFWLYH IHHGEDFNDQGXVHIXOUHFRPPHQGDWLRQVGXULQJP\:,3VHPLQDU,ZRXOGOLNHWR WKDQNP\VHFRQGVXSHUYLVRU$UH%UDQVWDGIRUKLVFRPPHQWVDQGHQFRXUDJHPHQW GXULQJWKHODVW\HDU
, ZRXOG OLNH WR WKDQN P\ FROOHDJXHV IURP (VWRQLDQ %XVLQHVV 6FKRRO 0\
VSHFLDOWKDQNVJRWR$UQR$OPDQQDQG2ODY$DUQDZKRKDYHVXSSRUWHGP\VWXGLHV DW&%6DQGZKRKDYHZDLWHGSDWLHQWO\IRUP\JUDGXDWLRQ,DPWKDQNIXOWR0DDUMD 0XUXPlJLZKRKDVEHHQP\FRQVWDQWVXSSRUWDQGRIIHUHGDVKRXOGHUWRFU\RQLI QHHGHG$OWKRXJKXVXDOO\ZHPDQDJHGZLWKMXVWDJODVVRUWZRRI/HIIH%ORQGH DFFRUGLQJWR0DDUMDXVXDOO\WZR
/DVWEXWQRWOHDVW,DPVRKDSS\DERXWWKHFRQWLQXRXVVXSSRUWRIIHUHGE\P\
SDUWQHU)UHGDQGRXUFKLOGUHQ/RUHHQDQG0DQIUHG,NQRZWKDWZKLOHGHYHORSLQJ DGPLUDEOH VHOIVXIILFLHQF\ DQG VHOIRUJDQL]LQJ VNLOOV WKHUH KDYH EHHQ PDQ\
VDFULILFHV\RXKDGWREHDUGXULQJP\QXPHURXVORQJHUDQGVKRUWHUYLVLWVWR&%6 7KDQN\RXIRUSURYLGLQJPH\RXUPRUDOVXSSRUWDQGWROHUDWLQJP\3K'MRXUQH\
LQFOXGLQJWKHPHVV\KRXVH,ORYH\RXJX\V
7KDQNVWRDOODQGHYHU\RQHZKRKDVVRPHKRZFRQWULEXWHGWRWKLVSURMHFW :KDWDULGH
.lWOLQ
7DOOLQQ-XQH
INTRODUCTION
“...we don’t know what is behind more than we know what is ahead…”
“...future that came and future which did not come...”
“The time is now — now is the time”
7KLVWKHVLVLVEDVHGRQWKUHHHPSLULFDOSDSHUVIRFXVHGRQLVVXHVDURXQGWLPH DQGWHPSRUDOLW\LQRUJDQL]DWLRQDOVHWWLQJV$OWKRXJKWKHUHLVDZLGHERG\RIUHVHDUFK FRYHULQJWLPHLQRUJDQL]DWLRQDQGPDQDJHPHQWUHVHDUFKWKHUHDUHIHZVWXGLHVRQ WHPSRUDOLW\:KHQWLPHLVUHIOHFWHGLQUHVHDUFKWKHQDFFRUGLQJWR/HHDQG/LHEHQDX SWKHVHVWXGLHVUHSUHVHQW³WLPHUHODWHGUHVHDUFK´DQGPLVVLQJ
³UHVHDUFKRQWLPH´,DPIRFXVLQJRQWLPHLWVHOIP\UHVHDUFKLV³UHVHDUFKRQWLPH´
0\ WKHRUHWLFDO IUDPHZRUN LV LQIOXHQFHG E\ :KLWHKHDG¶V SURFHVVXDO DSSURDFK WR UHDOLW\DQGWLPHDVRQWRORJ\,ZLOOIROORZ:KLWHKHDG¶VYLHZRIWLPHDVHPEHGGHG LQ HYHQWV , DP DOVR LQIOXHQFHG E\ +HLGHJJHU¶V DQG 6FKW]¶V SKHQRPHQRORJLFDO DSSURDFKWRVRFLDOUHDOLW\$GGLWLRQDOO\,UHO\RQWKHUHFHQWZRUNRI+HUQHV EZKRKDVLQWHJUDWHGDSURFHVVXDOSKHQRPHQRORJLFDODSSURDFKPRUH WLJKWO\ZLWKRUJDQL]DWLRQWKHRU\
7KH DERYH TXRWDWLRQV VKRZ VRPH H[SUHVVLRQV RI WKH GLIIHUHQW DVSHFWV DVVRFLDWHGZLWKWLPH7KHTXRWHVRULJLQDWLQJIURPYDULRXVVRXUFHVKDYHHDFKFDXJKW P\DWWHQWLRQDWGLIIHUHQWPRPHQWVLQWLPH7KHILUVWTXRWHLVP\IUHHWUDQVODWLRQRI WKH (VWRQLDQ SRHWHVV 'RULV .DUHYD 7KH VHFRQG TXRWH LV IURP WKH \RXWK QRYHO
³%HDXWLIXO&KDRV´ZULWWHQE\.DPL*DUFLDDQG0DUJDUHW6WRKODQGWKHODVWTXRWH RULJLQDWHVIURPD<RJL7HDODEHO$FRPPRQIHDWXUHRIWKHVHTXRWHVLVWKDWDOWKRXJK UHODWHG WR WLPH WKH WLPH WKH\ DUH UHIHUULQJ WR LV QHLWKHU FORFN WLPH QRU VRFLDOO\
FRQVWUXFWHGWLPH,QVWHDGWKH\DUHGLUHFWLQJRXUDWWHQWLRQWRWKHDOWHUQDWLYHZD\VWR WKLQNDERXWWKHPHDQLQJDQGQDWXUHRIWLPH$OWKRXJKHDFKZLWKDGLIIHUHQWIRFXV
DOOWKHDERYHPHQWLRQHGTXRWHVUHIHUWRWLPHDVXQGHUVWRRGLQSURFHVVWKHRU\7KDW PHDQVWKDW,GRQRWOLPLWP\DSSURDFKWRWLPHZLWKDQDEVWUDFWXQLWDU\FRQFHSWRI LQGXVWULDOL]HGFORFNWLPH,QVWHDG,IRFXVRQWLPHDQGWHPSRUDOLW\DQGWKHLUUROHLQ RUJDQL]DWLRQV DQG PRUH VSHFLILFDOO\ LQ RUJDQL]DWLRQDO EHFRPLQJ 7VRXNDV DQG
&KLD
³*RRGPRUQLQJ´VDLGWKHOLWWOHSULQFH
³*RRGPRUQLQJ´VDLGWKHPHUFKDQW 7KHPHUFKDQWZDVVHOOLQJSDWHQWSLOOVWRTXHQFKWKLUVW
\RXVZDOORZRQHHDFKZHHNDQG\RXQRORQJHUIHHO
WKHQHHGWRGULQN
³:K\DUH\RXVHOOLQJWKRVH"´DVNHGWKHOLWWOHSULQFH
³7KH\¶UHDJUHDWWLPHVDYHU´VDLGWKHPHUFKDQW³7KH H[SHUWVKDYHZRUNHGLWRXW<RXFDQVDYHILIW\WKUHH
PLQXWHVLQHYHU\ZHHN´
³$QGZKDWGR,GRZLWKWKHVHILIW\WKUHHPLQXWHV"´
³<RXGRZKDWHYHU\RXOLNH«´
³)RUP\SDUW´VDLGWKHOLWWOHSULQFHWRKLPVHOI³LI, KDGILIW\WKUHHPLQXWHVWRVSDUH,ZRXOGWDNHP\WLPH ZDONLQJVORZO\WRZDUGWKHQHDUHVWIRXQWDLQRIZDWHU´
$QWRLQHGH6DLQW([XSpU\³7KH/LWWOH3ULQFH´
1.1 Timeasatoolfororganizing
7LPHKDVDQLPSRUWDQWUROHDVDWRROIRUVRFLHWLHVWRRUJDQL]HDQGFRRUGLQDWH WKHLUDFWLYLWLHV$GDP&ODUN0F*UDWKDQG5RWFKIRUG )RUH[DPSOHDJULFXOWXUDOVRFLHWLHVKDYHEHHQDQGWRVRPHH[WHQWVWLOODUHRUJDQL]HG DFFRUGLQJ WR VHDVRQDO UK\WKPV 5HLQHFNH DQG $QVDUL ,QGXVWULDO DQG FRQWHPSRUDU\SRVWLQGXVWULDOVRFLHWLHVKDYHFKRVHQ1HZWRQLDQFORFNWLPHDVWKH GRPLQDQW IRUP RI WLPH ZKLFK KDV EHFRPH D GHHSO\ WDNHQIRUJUDQWHG DVSHFW RI VRFLDOOLIH$GDP
7KH DERYH FLWDWLRQ IURP GH 6DLQW([XSpU\¶V µ7KH /LWWOH 3ULQFH¶ LOOXVWUDWHV KRZWLPHWHQGVWREHXQGHUVWRRGLQPRGHUQVRFLHW\2QDGDLO\EDVLVSHRSOHEXGJHW WKHLUWLPHWKH\SODQXVHDQGDOORFDWHLW3HRSOHXVHWLPHDVDUHVRXUFHRUFRPPRGLW\
E\VSHQGLQJVDYLQJVHOOLQJDQGHYHQZDVWLQJLW+DOO7KHFORFNHQDEOHVXV WRPHDVXUHWLPHSUHFLVHO\DQGWLPHLVSHUFHLYHGDVVRPHWKLQJWKDWFDQEHVDYHGRU XVHGDFFRUGLQJWRRQH¶VSUHIHUHQFHV$VDUHVRXUFHRUFRPPRGLW\TXDQWLILHGODERU WLPHKDVEHFRPHDQLQWHJUDOFRPSRQHQWRISURGXFWLRQ$GDP&ODUN /HHDQG/LHEHQDX$VDUHVXOWRIPRQHWL]DWLRQWLPHLVYLHZHGDVD VFDUFH UHVRXUFH $GDP DQG VSHHG KDV EHFRPH DQ LPSRUWDQW FRPSHWLWLYH DGYDQWDJH+HUQHVHWDO:LWKLQRUJDQL]DWLRQVWLPHLVHVWLPDWHGPHDVXUHG DQGXVHGDVDWRROIRUPHDVXUHPHQWFRRUGLQDWLRQUHJXODWLRQDQGFRQWURO&ODUN +DVVDUG0F*UDWKDQG5RWFKIRUG3XUVHUDQG3HWUDQNHU
6HUYLQJDVDWRROIRUPHDVXUHPHQWUHTXLUHVWLPHWRKDYHDTXDQWLILDEOHQDWXUH
±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
HWF
0HDVXUDEOHFORFNWLPHUHIHUVWRH[WHUQDOWLPHWLPHYLHZHGDVDEDFNJURXQG V\VWHPH[WHUQDOWRKXPDQH[SHULHQFHDQGHYHQWV7KHFRQFHSWRIFORFNWLPHUHIHUV WRDWHPSRUDOWLPHEDVHGRQ1HZWRQLDQWKHRUHWLFDOSK\VLFVZKLFKYLHZVWLPHDV µDEVROXWH WUXH DQG PDWKHPDWLFDO¶ IORZLQJ µHTXDEO\ ZLWKRXW UHODWLRQ WR DQ\WKLQJ
H[WHUQDO¶1HZWRQTXRWHGLQ:KLWHKHDGS7KXVFORFNWLPHLVVHHQ DVREMHFWLYHFRQWLQXRXVOLQHDUDQGTXDQWLILDEOHH[LVWLQJLQGHSHQGHQWO\RIREMHFWV DFWLRQV DQG HYHQWV HJ &ODUN /HH DQG /LHEHQDX 2UOLNRZVNL DQG
<DWHV$OWHUQDWLYHO\WLPHLVDOVRGHVFULEHGDVDQLQWHUQDOIHDWXUHIRUKXPDQV WKLQJVDQGHYHQWV0HDG,QWHUQDORUµRZQWLPH¶+HUQHVS UHIHUVWRXQLTXHHLWKHUSHUVRQDORURUJDQL]DWLRQDOWHPSRUDOVWUXFWXULQJ7KDWLV³LWV RZQ XQLTXH SDWK RI XQIROGLQJ VXSSRUWHG E\ LWV RZQ VSHFLILF FRQWLQJHQFLHV WKH SURGXFWLRQRILWVXQLTXHSDVWDQGLWVRZQXQLTXHFKRLFHVIRUIXWXUHDVSLUDWLRQV´
+HUQHV S 7KH RSHQLQJ TXRWH IURP GH 6DLQW([XSpU\¶V µ7KH /LWWOH 3ULQFH¶LQGLFDWHVWKDWDFORFNWLPHGRHVQRWQHFHVVDULO\V\QFZLWKDSHUVRQVLQWHUQDO WLPHDQGFDQEHGLVVRFLDWHGIURPKXPDQH[SHULHQFH3XUVHUDQG3HWUDQNHU :LHEH5RPHUSTXRWHGLQ%DNNHQHWDOSVXJJHVWV WKDW³LWLVDOPRVWDVLIWKHSUHFLVLRQZLWKZKLFKZHFDQPHDVXUHWLPHLVDQLQGLFDWRU RIRXUH[LVWHQWLDOORVWQHVV´%OXHGRUQDQG'HQKDUGWSFODLPWKDW³WLPH LVDIXQGDPHQWDOO\VRFLDOFRQVWUXFW´DQGWKHUHIRUHWKHFRQFHSWRIFORFNWLPHLVWRR VLPSOLVWLFWRH[SODLQRUJDQL]DWLRQDOOLIH7KLVFODLPRI%OXHGRUQDQG'HQKDUGWLV VXSSRUWHG IRU H[DPSOH E\ 0F*UDWK DQG 5RWFKIRUG &ODUN 'DV DQG +DVVDUG $OO PHQWLRQHG DXWKRUV VXJJHVW WKDW VRFLDO DQDO\VLVUHTXLUHVDWKHRU\ZKLFKGHVSLWHWKHGRPLQDQFHRIFORFNWLPHWDNHVLQWR DFFRXQW WKH YDULRXV VXEMHFWLYH WLPHV QRWH WKH SOXUDOLW\ KHUH 7KRVH YDULRXV VXEMHFWLYHWLPHVWHQGWREHPRUHF\FOLFDOWKDQOLQHDU+DWFKDQGFRQWH[W VSHFLILF&ODUN+DVVDUG
$GDP LQVLVWV WKDW EHFDXVH WLPH SOD\V DQ LPSRUWDQW UROH ERWK LQ SHRSOH¶VOLYHVDQGLQWKHLUWKLQNLQJLWLVLPSRUWDQWWRXQGHUVWDQGDOORILWVDVSHFWVLQ WKHLUWRWDOLW\DVZHOOWKHLUG\QDPLFUHODWLRQV:LWKHYHU\FKRLFHFRPHVDUHODWHG FRQVHTXHQFH %\RUJDQL]LQJWKHLUDFWLYLWLHVDFFRUGLQJWRWKHFORFNWLPH PRGHUQ VRFLHWLHV FKRVHWKHLUYLHZRIUHDOLW\DQGDQDGHTXDWHEHKDYLRUWRFRSHZLWKWKDW UHDOLW\)RUH[DPSOHVSHHGRUDFFHOHUDWLRQDVDUHVXOWRIPRQHWL]HGWLPHOHDGVWR
WKHVKRUWHQLQJRISURGXFWLRQRUSURGXFWOLIHF\FOHVDQGµIRUJHWWLQJ¶&]DUQLDZVND
%RWKVKRUWHUSURGXFWLRQRUSURGXFWOLIHF\FOHVDVZHOODVµIRUJHWWLQJ¶FDQ KDYHHLWKHUSRVLWLYHRUQHJDWLYHFRQVHTXHQFHV)RUH[DPSOHµIRUJHWWLQJ¶FDXVHGE\
WLPHSUHVVXUHPD\PHDQWKDWIHZHUUHVRXUFHVLQWKHIRUPRISDVWH[SHULHQFHVDUH DYDLODEOH$UJRWH$WWKHVDPHWLPHµIRUJHWWLQJ¶FDQEHSRVLWLYHLIRQHLV WU\LQJWRJHWRYHUDWUDXPDWLFSDVWH[SHULHQFH&]DUQLDZVND&]DUQLDZVND SSRLQWVRXWWKDWLQFUHDVLQJVSHHGDQGDFFHOHUDWLRQLQSURGXFWLRQKDV FDXVHG UHVLVWDQFH LQ VRFLHW\ LQ WKH IRUP RI WKH µ6ORZ 0RYHPHQW¶ 7KLV µ6ORZ 0RYHPHQW¶DSSURDFKDSSHDUVWREHTXLWHVLPLODUWRWKHUHDFWLRQRI7KH/LWWOH3ULQFH WKDWLVWRVORZGRZQDQGµIHHO¶WKHWLPHVDYHG
$QRWKHURXWFRPHRIVSHHGLVµLQWHQVLILFDWLRQ¶%DNNHQHWDORUµWLPH VSDFHFRPSUHVVLRQ¶+DVVDUGµ,QWHQVLILFDWLRQ¶RUµWLPHVSDFHFRPSUHVVLRQ¶
PD\WKURXJKVKRUWHQHGWLPHKRUL]RQVXSWRWKHSRLQWZKHUHWKHUHLVRQO\WKHSUHVHQW ZLWKRXWWKHIXWXUH+DVVDUGOHDGWRXQVXVWDLQDEOHSUDFWLFHVDVLWJLYHVWKH LPSUHVVLRQ WKDW ERWK WKH FRPLQJ HYHQWV DQG HQYLURQPHQW KDYH DEXQGDQW H[SORLWDEOHVWDQGLQJUHVHUYHV%DNNHQHWDO7KXVLWFRXOGEHDUJXHGWKDWWKH ZD\LQZKLFKWLPHLVFRQFHSWXDOL]HGKDVDIDUUHDFKLQJLPSDFWRQKRZUHDOLW\LVVHHQ DQGUHVSRQGHGWRE\DFWRUV0RUHRYHUWKHTXHVWLRQLVQRWVRPXFKDERXWµRQHRUWKH RWKHU¶WKDWLVFORFNWLPHRUVRFLDOWLPH±LQVWHDGLWLVLPSRUWDQWWRXQGHUVWDQGWKH UHODWLRQVKLSVEHWZHHQGLIIHUHQWVLPXOWDQHRXVO\DFWLYHDQGPXWXDOO\QRQH[FOXGLQJ DVSHFWVRIWLPH/XKPDQQTXRWHGLQ$GDPDUJXHVWKDWWKHTXHVWLRQRI WLPHLVDIXQGDPHQWDOLIQRWDQHFHVVDU\SUHFRQGLWLRQWRVRFLDOWKHRU\&RQVHTXHQWO\
WKHGLIIHUHQWDVSHFWVRIWLPHDQGWKHUROHRIWLPHLQRUJDQL]DWLRQDOWKHRULHVFDQQRW EHOHVVLPSRUWDQWEHFDXVHKRZWKHRUJDQL]DWLRQDOUHDOLW\LVLPDJLQHGDQGUHVSRQGHG WRE\DFWRUVLVURRWHGLQRXUYLHZRIWLPH7KDWLVWKHFRQFHSWXDOL]DWLRQRIWLPH LQIOXHQFHVKRZWKHUHDOLW\LVFUHDWHGDQGHQDFWHG
1.2 Aspectsoftimeandtemporalityinvestigatedinthecurrent thesis
,QWKLVVHFWLRQ,ZLOOGLVFXVVWKHUHVHDUFKTXHVWLRQVDGGUHVVHGLQWKHWKUHH SDSHUVDQGWKHQH[SODLQKRZWKH\DUHVXEVXPHGXQGHUWKHJHQHUDOUHVHDUFKIRFXV
7KHUHVHDUFKTXHVWLRQRIWKHILUVWSDSHULVHow is temporal interplay created between improvisation and routines? ,Q WKH SDSHU ZH LQYHVWLJDWH KRZ UHYROXWLRQL]HG VKLS GHVLJQ ZDV DFWXDOL]HG LQ WKH SURMHFW ZKLFK VWDUWHG ZLWK D FRQYHQWLRQDOGHVLJQDQGHYROYHGWRWKHSURGXFWLRQSKDVH7KHDFWRUV¶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
7KHUHVHDUFKTXHVWLRQSRVHGLQWKHVHFRQGSDSHULVHow does outsourcing influence the mindful application of routines? $OWKRXJKWKLVSDSHUGRHVQRWDGGUHVV WHPSRUDOLW\RUWLPHDVWKHPDLQUHVHDUFKFRQFHUQVLWUHODWHVWRERWKWKURXJKWKH DQDO\VLVRIHPSLULFDOGDWD,QWKHSDSHU,IRFXVRQWKHXQLQWHQGHGFKDQJHLQPHDQLQJ DQGDSSOLFDWLRQRIRXWVRXUFHGDFFRXQWLQJURXWLQHV:KLOHDQDO\]LQJZK\UHODWLYHO\
PXQGDQHDQGVHHPLQJO\WHFKQLFDOSURFHVVHVVXFKDVDFFRXQWLQJIRUSD\DEOHVDQG UHFHLYDEOHV DUH QRW HDVLO\ WUDQVIHUUDEOH IURP RQH ORFDO RUJDQL]DWLRQDO FRQWH[W WR DQRWKHU , VKRZ WKDW WKH UHORFDWLRQ RI URXWLQHV FKDQJHV VHYHUDO WHPSRUDO FRQILJXUDWLRQV &RQWLQXLW\ RI URXWLQHV DV SUDFWLFHV H[LVWV ZLWK WKHLU VSHFLILF WHPSRUDOLW\FRQWLQXLW\RIRUJDQL]DWLRQDOEDFNJURXQGDVDQXQIROGLQJSURFHVVH[LVWV
ZLWK LWV WHPSRUDOLW\ UHODWLRQVKLSV H[LVW EHWZHHQ URXWLQHV DQG WKH RUJDQL]DWLRQDO EDFNJURXQG7KHUHIRUHWKHUHDUHFRPSOH[G\QDPLFUHODWLRQVZKLFKKDYHDQLPSDFW RQWKHPHDQLQJVDWWULEXWHGWRWKHSHUIRUPDQFHRIRUJDQL]DWLRQDOURXWLQHV,IWKHVH G\QDPLFUHODWLRQVDUHFXWRIIRUFKDQJHWKHPHDQLQJDQGSHUIRUPDQFHRIURXWLQHV ZLOO FKDQJH LQ DQ XQSUHGLFWHG ZD\ 7KH RXWVRXUFHG URXWLQHV DUH SHUIRUPHG LQ UHODWLRQ WR Ddifferent YLHZ RI WKH SDVW DQG WKH IXWXUH FRPSDUHG WR WKH RULJLQDO URXWLQH ,Q DGGLWLRQ DOWKRXJK QRW DGGUHVVHG LQ WKH SDSHU WKHUH LV DQ DVSHFW RI IRUJHWWLQJ'LVFRQWLQXLW\RIWKHDFWLYLWLHVFRXOGOHDGWRIRUJHWWLQJDQGWKHORVVRI FRPSHWHQFLHVZKLFKLQWXUQFRXOGPHDQWKHRUJDQL]DWLRQLVXQDEOHWRKDQGOHLWV DIIDLUV
,QWKHWKLUGSDSHU,K\SRWKHVL]HWKDWSHUFHLYHGGLVFRQWLQXLW\RIWLPHFDXVHG E\VWUDWHJLFFKDQJHKDPSHUVHPSOR\HHZRUNUHODWHGFRPPLWPHQWLQFOXGLQJWKHLU FRPPLWPHQW WR FKDQJH ,Q WKH OLWHUDWXUH WKH QDWXUH RI RUJDQL]DWLRQDO FKDQJH LV KLJKOLJKWHG DV RQH RI WKH PDLQ DVSHFWV WKDW DIIHFWV HPSOR\HH DWWLWXGHV WRZDUGV FRPPLWPHQW7DNLQJDWHPSRUDOYLHZLQGLFDWHVWKDWHPSOR\HHFKDQJHFRPPLWPHQW LVLQIOXHQFHGPRUHE\SHUFHLYHGGLVFRQWLQXLW\WKDQE\WKHW\SHRIRUJDQL]DWLRQDO FKDQJH $OWKRXJK LW FRXOG EH DUJXHG WKDW ZLWK D FHUWDLQ W\SH RI FKDQJH LH GRZQVL]LQJ GLVFRQWLQXLW\ LV UHLQIRUFHG PRUH WKDQ ZLWK DQRWKHU W\SH RI FKDQJH WKHUH LV QR UXOH RI WKXPE WR UHO\ RQ :KLOH GRZQVL]LQJ PD\ LQWHQVLI\ D VHQVHG GLVFRQWLQXLW\E\GLVUXSWLQJHPSOR\HHH[SHFWDWLRQVIRUWKHIXWXUHWKHH[FOXGHGSDVW PD\KDYHDQHYHQPRUHDGYHUVHLQIOXHQFHRQWKHVHQVHGFRQWLQXLW\
7KH JHQHUDO UHVHDUFK IRFXV RI P\ WKHVLV UHODWHV WR WKH WHPSRUDOLW\ RI RUJDQL]DWLRQDOEHFRPLQJ7KHPDLQUHVHDUFKTXHVWLRQLVµKRZLQWKHIORZRIWLPH LV FRQWLQXLW\ VXVWDLQHG LQ RUJDQL]DWLRQV¶ :LWKLQ WKLV WRSLF , H[SORUH KRZ WKH WHPSRUDOLW\ RI URXWLQHV LV UHODWHG WR RUJDQL]DWLRQDO LPSURYLVDWLRQ RUJDQL]DWLRQDO PHDQLQJVWUXFWXUHVRUEDFNJURXQGNQRZOHGJHDQGHPSOR\HHFRPPLWPHQW:KLOH H[SORULQJWKHVHUHODWLRQVKLSV,WDNHLQWRDFFRXQWWKHSDVVLQJQDWXUHRIWKHIORZRI WLPH,DPEXLOGLQJP\DUJXPHQWDWLRQRQWKHDVVXPSWLRQRIDFWRUVHQDFWLQJDQG
EHLQJVKDSHGE\WKHIORZRIWLPH,QP\ZRUN,PDNHDGLVWLQFWLRQEHWZHHQWLPH DQGWHPSRUDOLW\7KHUHIRUHWKH\DUHQRWYLHZHGDVV\QRQ\PRXV,YLHZWLPHDVD FRQWLQXRXV IORZ ZKLOH WHPSRUDOLW\ LV YLHZHG DV DQ DFWLYH HIIRUW WR PDLQWDLQ FRQWLQXLW\ E\ PDNLQJ FRQQHFWLRQV DFURVV WKH SDVW SUHVHQW DQG IXWXUH , YLHZ DQ RUJDQL]DWLRQDO EHLQJ DV FKDOOHQJHG E\ WKH SDVVLQJ WLPH ± FKDOOHQJHG E\ QHZ HPHUJLQJSRVVLELOLWLHVDVZHOODVE\IRUJHWWLQJ$UJRWHDQGSHULVKLQJ+HOLQ HWDO7KHDFWRUVDUHFRQIURQWHGZLWKWKHQHHGWRPDNHSODXVLEOHFRQQHFWLRQV DFURVVWKHSDVWSUHVHQWDQGIXWXUHWRPDLQWDLQWKHLUVHQVHGFRQWLQXLW\LQWKHSDVVLQJ WLPH,QDVHQVHWKHWHPSRUDOEHLQJLVFDUYHGRXWIURPWKHIORZRIWLPH+HUQHV SL[7KLVFDQEHGHVFULEHGDVµRQJRLQJWHPSRUDOLW\¶6FKXOW]DQG+HUQHV 7KH FRQFHSW RI RQJRLQJ WHPSRUDOLW\ KLJKOLJKWV WKDW WHPSRUDOLW\ LV QRW D SDVVLYHO\SHUFHLYHGH[SHULHQFHEXWDQDFWLYHHIIRUWIXODQGSXUSRVHIXOFUHDWLRQRI FRQQHFWLRQV
1.3 Empiricalpapersandtheircontribution
7KH WKHVLV FRQVLVWV RI WKUHH HPSLULFDO VWXGLHV DLPHG DW DQVZHULQJ WKH VWDWHG UHVHDUFK TXHVWLRQ 7KH WKUHH VWXGLHV DUH EDVHG RQ HPSLULFDO GDWD IURP GLIIHUHQW UHVHDUFKVHWWLQJV±RUJDQL]DWLRQDOLPSURYLVDWLRQLQVKLSGHVLJQDQGFRQVWUXFWLRQ EDFNVRXUFLQJRIDFFRXQWLQJWDVNVDQGLPSOHPHQWLQJVWUDWHJLFRUJDQL]DWLRQDOFKDQJH SURMHFWVLQFRQWUDVWLQJVHWWLQJVDQWLFLSDWHGH[SDQVLRQDQGH[SHULHQFHGFRQWUDFWLRQ
$TXDOLWDWLYHFDVHVWXG\GHVLJQLVXVHGLQDOOWKUHHVWXGLHV
7KH ILUVW HPSLULFDO SDSHU WLWOHG ±7KH SDVW DQG WKH IXWXUH LQ WKHQRZ ,PSURYLVDWLRQ DQG URXWLQHV DV WHPSRUDO LQWHUSOD\ DQG WKH PDNLQJ RI DQ LPSURYLVDWLRQDOHYHQW±LVSUHVHQWHGLQ&KDSWHU%DVHGRQWKHLQGHSWKVLQJOH FDVHVWXG\DQDO\VLVDQGUHO\LQJPDLQO\RQVHPLVWUXFWXUHGLQWHUYLHZVWKLVVWXG\
IRFXVHVRQWKHVLWXDWHGDQGWHPSRUDOLQWHUSOD\EHWZHHQLPSURYLVDWLRQDQGURXWLQHV LQ D VKLS GHVLJQ DQG FRQVWUXFWLRQ FRPSDQ\ ,Q WKLV SDSHU FRDXWKRUHG ZLWK P\
VXSHUYLVRU 3URIHVVRU 7RU +HUQHV ZH DUH LQYHVWLJDWLQJ KRZ WKH FUHDWLRQ RI WKH µQHZ¶WKDWLVDQDFWXDOL]DWLRQRIWKHSRWHQWLDOLVDFKLHYHGWKURXJKLPSURYLVDWLRQ 7KHYLUWXDOLGHDRI;%RZDUHYROXWLRQL]HGERZVKDSHZDVDFWXDOL]HGWKURXJKWKH LPSURYLVDWLRQDOUHVSRQVHWRVLWXDWLRQDOFLUFXPVWDQFHV$WWKHVDPHWLPHLWFRXOGEH DUJXHGWKDWWKLVDFWXDOL]DWLRQRISRWHQWLDOZDVEDVHGRQERWKSUHYLRXVDQGFXUUHQW OLPLWHGFRSLQJ
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
7KHVHFRQGHPSLULFDOVWXG\WLWOHG±0LQGIXODSSOLFDWLRQRIURXWLQHV±ORVW LQ WKH RXWVRXUFLQJ" ± LV SUHVHQWHG LQ &KDSWHU ,Q WKLV VWXG\ , IRFXV RQ WKH WHPSRUDOLW\RIURXWLQHVDQGRUJDQL]DWLRQDOEDFNJURXQGNQRZOHGJH,LQYHVWLJDWHWKH UHODWLRQVKLS EHWZHHQ WKH PLQGIXO SHUIRUPDQFH RI URXWLQHV DQG RUJDQL]DWLRQDO EDFNJURXQGNQRZOHGJHJXLGHGE\WKHDVVXPSWLRQWKDWERWKWKHUHODWLRQVKLSEHWZHHQ WKH SHUIRUPDQFH RI URXWLQHV DQG EDFNJURXQG NQRZOHGJH DV ZHOO DV EDFNJURXQG NQRZOHGJHLWVHOIDUHLQKHUHQWO\WHPSRUDO,QWKHVWXG\,DQDO\]HWKHLPSDFWWKDW
RXWVRXUFLQJKDVKDGRQRUJDQL]DWLRQDODFFRXQWLQJURXWLQHV%DVHGRQDQLQHPRQWK HWKQRJUDSKLFVWXG\,GHYHORSWKHFRQFHSWRIPLQGIXODSSOLFDWLRQRIURXWLQHVDQG VKRZWKHLPSDFWWKDWRXWVRXUFLQJUHYHDOHGE\EDFNVRXUFLQJWHQGVWRKDYHRQWKH PLQGIXODSSOLFDWLRQRIURXWLQHV
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
WHPSRUDOUHODWLRQVZHFDQQRWVHSDUDWHWKHSHUIRUPHUIURPWKHRUJDQL]DWLRQDOVHWWLQJV ZLWKRXWFKDQJLQJWKHPHDQLQJDQGSRVVLEOHRXWFRPHRIURXWLQHV
7KHWKLUGVWXG\WLWOHG±5LVNVDQGFRQVHTXHQFHVRIWHPSRUDOGLVFRQWLQXLW\
LQWKHRUJDQL]DWLRQDOFKDQJHSURFHVV±LVSUHVHQWHGLQ&KDSWHU,QWKLVVWXG\D FRPSDUDWLYHFDVHVWXG\DQDO\VLVEDVHGPDLQO\RQLQWHUYLHZGDWDLVXVHG+HUH, LQYHVWLJDWH WKH LPSRUWDQFH RI VHQVHG WHPSRUDO FRQWLQXLW\ WR HPSOR\HHV¶
FRPPLWPHQWWRFKDQJHLQWKHFRQWH[WRIVWUDWHJLFRUJDQL]DWLRQDOFKDQJH7KHPDLQ WKHRUHWLFDOFRQWULEXWLRQRIWKLVVWXG\LVWRVKRZKRZSHUFHLYHGWHPSRUDOFRQWLQXLW\
LVLPSRUWDQWIRUWKHZD\VLQZKLFKRUJDQL]DWLRQDOPHPEHUVFRPPLWWRWKHFKDQJH SURFHVV$SSO\LQJDWHPSRUDOSHUVSHFWLYHWRRUJDQL]DWLRQDOFKDQJH,VXJJHVWWKH ODEHOV ³WKH H[FOXGHG SDVW´ DQG ³WKH GLVDVVRFLDWHG IXWXUH´ DV IRUPLQJ SDUW RI SHUFHLYHGGLVFRQWLQXLW\,DUJXHWKDWRQWKHRQHKDQGWKHH[FOXGHGSDVWZLOOUHGXFH RUJDQL]DWLRQ PHPEHUV¶ DYDLODEOH FRJQLWLYH UHVRXUFHV IURP ZKLFK WKH\ FDQ GUDZ SURMHFWLRQVWRWKHIXWXUHDQGWKXVUHGXFHWKHOLNHOLKRRGWKDWWKH\VKRZDFWLRQGULYHQ FRPPLWPHQW WR WKH FKDQJH 2Q WKH RWKHU KDQG LI WKH HQYLVLRQHG IXWXUH LV GLVDVVRFLDWHGIURPSDVWDQGSUHVHQWLWUHPDLQVLPSODXVLEOHWRDFWRUVDQGPD\KHQFH UHGXFHWKHLUFRPPLWPHQWWRWKHFRXUVHRIFKDQJH
7KH WZR FDVH VWXGLHV SUHVHQWHG LQ WKLV SDSHU VXSSRUW WKH QRWLRQ PDGH E\
SUHYLRXVVWXGLHVWKDWFRPPLWPHQWWRFKDQJHLVIXWXUHRULHQWHGDFWLRQLQIRUPHGE\
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
$V DFWLRQ LV WHPSRUDO WKH H[FOXGHG SDVW VHHPV WR OHDG WR D GLVDVVRFLDWHG IXWXUH7KDWLVWKHHQYLVLRQHGIXWXUHLVYLHZHGDVLPSODXVLEOHDVWKHUHDUHQRSDVW H[SHULHQFHVDYDLODEOHWRPDNHVHQVHRIWKDWHQYLVLRQHGIXWXUH7KHUHIRUHLQWKHFDVH RIWKHH[FOXGHGSDVWWKHFKDQJHLQLWLDWLYHZLOOPRVWOLNHO\EHUHVLVWHG$OWHUQDWLYHO\
LIWKHSDVWLVLQFRUSRUDWHGLQWRWKHFKDQJHSURMHFWEXWWKHIXWXUHDQWLFLSDWHGIURPWKH FKDQJHLVVHHQDVXQGHVLUDEOHE\WKHRUJDQL]DWLRQDOPHPEHUVWKHUHLVOLWWOHFKDQFH RIDFKLHYLQJHPSOR\HHDFWLRQGULYHQFRPPLWPHQWIRULPSOHPHQWLQJWKDWFKDQJH
$OWKRXJK WKH IXWXUH UHVXOWLQJ IURP WKH FKDQJH PD\ EH LQWHUSUHWHG DV SODXVLEOH HPSOR\HHVPD\FKRRVHWRGLVDVVRFLDWHWKHPVHOYHVIURPWKDWIXWXUHLILWGRHVQRWORRN GHVLUDEOH,QWKHFDVHRIDGLVDVVRFLDWHGIXWXUHHPSOR\HHVGRQRWQHFHVVDULO\UHVLVW WKHFKDQJHEXWWKHLUFRPPLWPHQWFRXOGUHPDLQREOLJDWLRQEDVHGPHDQLQJWKDWWKH\
DUH UHDG\ WR IXOILOO PHUHO\ WKHLU PLQLPXP REOLJDWLRQV E\ FRPSO\LQJ WR FKDQJH GHPDQGV,WFRXOGEHDUJXHGWKDWLQDGGLWLRQWRWKHQHHGWROLQNWKHFKDQJHSURMHFW ORJLFDOO\WRWKHSDVWLWLVQHFHVVDU\WROLQNLWORJLFDOO\DOVRWRHQYLVLRQHGIXWXUH H[SHFWDWLRQV
$OWKRXJK WKH VWXGLHV SUHVHQWHG LQ WKH WKUHH SDSHUV LQYHVWLJDWH GLIIHUHQW DVSHFWVRIWLPHDQGWHPSRUDOLW\WKH\DOOIRFXVRQKRZWHPSRUDOLW\RIRUJDQL]DWLRQDO SURFHVVHV FUHDWH WLPH DQG KRZ WKH FUHDWHG WLPH VKDSHV WKH VDPH RUJDQL]DWLRQDO SURFHVVHVLQWKHIORZRIWLPH
1.4 Thestructureofthethesis
7KHIROORZLQJFKDSWHUSURYLGHVDJHQHUDORYHUYLHZRIWKHDSSURDFKHVWR WLPHLQRUJDQL]DWLRQDOVWXGLHVPRYLQJIURP7D\ORULVPDQGFORFNWLPHWRDSOXUDOLW\
RI VRFLDO WLPHV DQG HYHQWEDVHG WLPH &KDSWHU GLVFXVVHV SHULRGLF WLPH DQG LWV OLPLWDWLRQV ZKHQ DSSOLHG LQ RUJDQL]DWLRQDO VWXGLHV ,Q &KDSWHU , GLVFXVV D SURFHVVXDO YLHZ RI WLPH ZLWK LWV PXOWLSOH DVSHFWV ZKLOH FRQQHFWLQJ WKH GLIIHUHQW
DVSHFWVWRWKHHPSLULFDOSDSHUV,Q&KDSWHU,GHVFULEHP\GDWDFROOHFWLRQSURFHVV DQGVRXUFHVXVHGIRUGDWDFROOHFWLRQ7KHWKUHHHPSLULFDOSDSHUVDUHSUHVHQWHGLQ
&KDSWHUV ± UHVSHFWLYHO\ ,PSOLFDWLRQV DQG VXJJHVWLRQV IRU IXWXUH UHVHDUFK DUH RXWOLQHG LQ &KDSWHU )LQDOO\ WKH FRQFOXVLRQ LQ &KDSWHU GUDZV WKH WKHVLV WRJHWKHU
2. APPROACHESTOTIMEINORGANIZATIONALSTUDIES
2.1Alineartime
$OLQHDUWLPHUHIHUVWRWKHFRQFHSWRIFORFNWLPHZKLFKLVWKHPRVWGRPLQDQW DQGZLGHVSUHDGFRQFHSWXDOL]DWLRQRIWLPHLQPRGHUQRUJDQL]DWLRQV%OXHGRUQDQG 'HQKDUGW &ODUN &URVVDQ HW DO 6RURNLQ DQG 0HUWRQ
&ORFNWLPHURRWHGLQ1HZWRQLDQSK\VLFVUHSUHVHQWVREMHFWLYHOLQHDUPHDVXUDEOH WLPHWKDWH[LVWVLQGHSHQGHQWRIREMHFWVDFWLRQVDQGHYHQWVHJ/HHDQG/LHEHQDX 2UOLNRZVNL DQG <DWHV &ORFN WLPH LV GLIIHUHQW IURP WHPSRUDOLW\
EHFDXVHLWYLHZVWLPHDVV\PPHWULFDODQGWKXVUHYHUVLEOH%OXHGRUQDQG'HQKDUGW 6WXGLHV WDNLQJ WKH FORFN WLPH DSSURDFK FRYHU D ZLGH VSHFWUXP RI WLPH PDQDJHPHQW WRSLFV LQ RUJDQL]DWLRQ DQG PDQDJHPHQW UHVHDUFK )RU H[DPSOH FRQFHSWVOLNHµMXVWLQWLPH¶µWLPHWRPDUNHW¶µOHDGWLPH¶µUHVSRQVHWLPH¶µF\FOH WLPH¶&LERUUDSµWLPHDQGPRWLRQ¶µWLPHDOORFDWLRQ¶µWLPHEXGJHW¶
µWLPH PDQDJHPHQW¶ µIRUHFDVWLQJ¶DQGµWLPHVHULHV DQDO\VLV¶/HH DQG/LHEHQDX SDUHZHOOUHSUHVHQWHGLQPDQDJHPHQWVWXGLHV
7KHLQWHUHVWLQWLPHZLWKLQRUJDQL]DWLRQDODQGPDQDJHPHQWVWXGLHVZDVILUVW H[SUHVVHG DW WKH HQG RI WKH WK DQG EHJLQQLQJ RI WK FHQWXU\ LQ 6FLHQWLILF 0DQDJHPHQW EHJLQQLQJ ZLWK WKH ZRUN RI 7D\ORU &KRRVLQJ FORFN WLPH DV LWV GHSDUWXUH SRLQW 6FLHQWLILF 0DQDJHPHQW RU µ7D\ORULVP¶ HPSKDVL]HG WLPH DV D UHVRXUFH %DVHG RQ WKH PHDVXUDEOH PRQHWL]HG DVSHFW RI WLPH 7D\ORULVP OHDG WR WLPHPDQDJHPHQW ZLWKLQWKHLQGXVWU\ZLWKWKH DLP RIDOORFDWLQJ PHDVXULQJDQG VSHQGLQJWLPHZLWKVFLHQWLILFSUHFLVLRQ$GDP&ODUN+DVVDUG (YHQLIQRWDSSOLHGLQLWVWRWDOLW\&ODUN6FLHQWLILF0DQDJHPHQWLVVWLOOD WKULYLQJ FRQFHSW ZLWKLQ LQGXVWU\ ZLWK LWV DSSURDFK WR WLPH DV PHDVXUDEOH DQG REMHFWLYHDQLPSRUWDQWWRROIRUVFKHGXOLQJRUGHULQJSODQQLQJDQGV\QFKURQL]LQJ GLIIHUHQWDFWLYLWLHVZLWKLQDQRUJDQL]DWLRQ
&ORFNWLPHYLHZHGDVDUHVRXUFHLV³PHDVXUHGE\SHUVRQWLPHXQLWVRUPDQ KRXUV´/HHDQG/LHEHQDXS$VDPHDVXUDEOHDQGTXDQWLILHGUHVRXUFH FORFNWLPHLVGLUHFWO\OLQNHGWRSURGXFWLRQSODQQLQJDQGRUJDQL]DWLRQDOHIILFLHQF\
DQG HIIHFWLYHQHVV FDOFXODWLRQV %OXHGRUQ DQG 'HQKDUGW &LERUUD
$FFRUGLQJWR&LERUUDS³,QPRGHUQPDQDJHPHQWWLPHLVORRNHGDWDVD IXQGDPHQWDO EXVLQHVV SHUIRUPDQFH YDULDEOH HYHQ PRUH LPSRUWDQW WKDQ PRQH\´
9LHZHGDVDUHVRXUFHLWLVDVVXPHGWKDWFORFNWLPHSUHVXSSRVHVDFWLYHPDQDJHPHQW DQG SODQQLQJ &URVVDQ HW DO DQG LPSRVHV WKH SUREOHP RI DOORFDWLRQ 2UOLNRZVNLDQG<DWHV
7KHTXDQWLILHGWLPHLVDKLJKO\XVHIXOWRROIRUVFKHGXOLQJWKHXVHRIKRWHOURRPV RU PHHWLQJ URRPV :LWKRXW WKH KHOS RI FDOHQGDUV DQG FORFN WLPH PDQDJLQJ DQG RUJDQL]LQJWKHXVHRIVXFKOLPLWHGVSDFHVDVKRWHODQGPHHWLQJURRPVFRXOGEHYHU\
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
7KH$FDGHP\RI0DQDJHPHQW5HYLHZVSHFLDOLVVXHLVGHGLFDWHGWRWKH DVSHFWVRIWLPHVXFKDVVSHHGVHTXHQFLQJSDFLQJDQGGXUDWLRQ,QWKLVVSHFLDOLVVXH WLPH LV WUHDWHG HLWKHU DV DQ LQGHSHQGHQW RU GHSHQGHQW YDULDEOH LQ DQG IRU RUJDQL]DWLRQDORUWHDPSHUIRUPDQFHFKDQJHLQWHUYHQWLRQVDQGLQVWLWXWLRQDOL]DWLRQ
*RRGPDQHWDO7KLVVSHFLDOLVVXHLVDYDOXDEOHDWWHPSWWREULQJWLPHWRWKH IRUHIURQWRIRUJDQL]DWLRQDODQGPDQDJHPHQWVWXGLHV7KHPDLQVKRUWFRPLQJRIWKH
PHQWLRQHGVSHFLDOLVVXHLVLWVFRQFHSWXDOL]DWLRQRIWHPSRUDOLW\DVOLPLWHGWRVSHHG VHTXHQFLQJSDFLQJDQGGXUDWLRQ+HUQHVHWDO
$OWKRXJKDOLQHDUWLPHRUFORFNWLPHLVVWLOOWKHPRVWGRPLQDQWDQGZLGHVSUHDG FRQFHSWXDOL]DWLRQRIWLPHLQPRGHUQRUJDQL]DWLRQV%OXHGRUQDQG'HQKDUGW
&ODUN &URVVDQ HW DO 6RURNLQ DQG 0HUWRQ DQG GHVSLWH LWV LPSRUWDQFHLQRUJDQL]DWLRQDOOLIHLWKDVVHYHUDOOLPLWDWLRQV7KHVHOLPLWDWLRQVKDYH FDXJKWWKHDWWHQWLRQRIPDQ\DXWKRUVHJ%OXHGRUQDQG'HQKDUGW&ODUN 'DV +DVVDUG 0F*UDWK DQG 5RWFKIRUG )RU H[DPSOH +DVVDUGSFODLPVWKDW³ZRUNLQJWLPHLVDPXFKULFKHUSKHQRPHQRQWKDQ LV SRUWUD\HG LQ PDLQVWUHDP LQGXVWULDO VRFLRORJ\ 'RPLQDQW SHUVSHFWLYHV VXFK DV IXQFWLRQDOLVPDQGVWUXFWXUDOLVPPRVWO\IDLOWRFDSWXUHWKHFRPSOH[LW\RILQGXVWULDO WHPSRUDOLW\´ 7KH PHQWLRQHG FRPSOH[LW\ RI LQGXVWULDO WHPSRUDOLW\ ZKLFK PDLQVWUHDPFORFNWLPHEDVHGSHUVSHFWLYHVIDLOWRFDSWXUHLQFOXGHVDSOXUDOLW\RI WLPHVHPHUJLQJIURPUHODWLYHVXEMHFWLYHO\SHUFHLYHGDQGH[SHULHQFHGWLPH&ODUN
$SOXUDOLW\RIUHODWLYHVXEMHFWLYHWLPHVZKLFKLQIRUPVDQGJLYHVPHDQLQJWR RQH¶VDFWLRQFRQWUDVWVZLWKVLQJXODUREMHFWLYHDQGPHDVXUDEOHFORFNWLPH%OXHGRUQ DQG'HQKDUGW
2.2 Socialtime
6RURNLQDQG0HUWRQFODLPWKDWFORFNWLPHWRZKLFKWKH\UHIHUDVDQµHPSW\
PDWKHPDWLFDO¶WLPH6RURNLQDQG0HUWRQSWKDWLVIORZLQJFRQWLQXRXVO\
DQG HTXDOO\ FDQQRW EH FDUULHG RYHU LQWR WKH VRFLDO ZRUOG ,Q WKH VRFLDO ZRUOG FRQWLQXLW\DIHDWXUHRIWKH1HZWRQLDQFRQFHSWLRQRIWLPHLVGLVUXSWHGE\VRFLDOO\
VLJQLILFDQWHYHQWV7KXVLQVWHDGRIPDWKHPDWLFDOWLPH6RURNLQDQG0HUWRQ VWUHVV WKDW WLPH LV FRQVWUXFWHG LQ UHODWLRQ WR HYHQWV WKDW DUH UHJDUGHG VRFLDOO\
VLJQLILFDQW 7KLV VRFLDO VLJQLILFDQFH LV GHWHUPLQHG ORFDOO\ WKDW LV ³ORFDO WLPH
V\VWHPVDUHTXDOLWDWLYHLPSUHVVHGZLWKGLVWLQFWO\ORFDOL]HGPHDQLQJV´6RURNLQDQG 0HUWRQS$VDUHVXOWWKHUHDUHPXOWLSOHYDULRXVWLPHV\VWHPVZLWK GLIIHUHQW TXDOLWLHV LQIOXHQFLQJ MXGJPHQWV RI DSWLWXGH RSSRUWXQLW\ FRQWLQXLW\
FRQVWDQF\ DQG VLPLODULW\ 6RURNLQ DQG 0HUWRQ VWUHVV WKDW KRZ WLPH LV XQGHUVWRRG GHSHQGV RQ WKH RUJDQL]DWLRQ RU JURXS IXQFWLRQV 7KH VLJQLILFDQFH RI WLPH ERWK DV GXUDWLRQ DQG LQGLFDWLRQ EHFRPHV YLVLEOH RQO\ LQ UHODWLRQ WR VRFLDO DFWLYLWLHVLQWKHHYHU\GD\RUGHURIVRFLDOOLIHDQGRFFXSDWLRQDOUK\WKPV$FFRUGLQJ WR6RURNLQDQG0HUWRQSREMHFWLYHFORFNRUFDOHQGDUWLPH³EHFRPHV VLJQLILFDQWRQO\ZKHQLWLVWUDQVIRUPHGLQWRVRFLDOWLPH´$VVXFKFORFNWLPHLVDQ HPHUJHQW VRFLDO WRRO IRU RUJDQL]LQJ ³RWKHUZLVH FKDRWLF LQGLYLGXDOO\ YDU\LQJ DFWLYLWLHV´,ELGS
&ODUN¶VDSSURDFKWRWLPHEDVHGRQDQWKURSRORJ\LVDOLJQHGZLWKWKH FODLPVPDGHE\6RURNLQDQG0HUWRQ&ODUNFULWLFL]HVWKDW³RUJDQL]DWLRQDO VRFLRORJ\>«@SRVVHVVLQJDVWURQJRULHQWDWLRQWRZDUGVWKHFRQVWUXFWLRQRIDQDO\WLFDO VFKHPDVDQGODZOLNHVWDWHPHQWVZKLFKDUH³WLPHIUHH´´&ODUNS&ODUN LVFULWLFDORIµWLPHIUHH¶DQDO\WLFDOVFKHPDVZKHUHWLPHLVVHSDUDWHGIURP HYHQWV+HLVHPSKDVL]LQJUHODWLYLW\RIWLPHDQGSOXUDOLW\RIWLPHV³HDFKRIZKLFKLV DSSURSULDWHWRXQGHUVWDQGLQJVSHFLILFSKHQRPHQD´&ODUNS&ODUNLVDOVR FULWLFDORIVWXGLHV³LQUHDOWLPH´RU³RYHUWLPH´³WLPHODJV´³WLPHKRUL]RQ´RUWKH
³WLPHVSDQRIGLVFUHWLRQ´DQGµ7D\ORULVP¶&ODUNSSSS&ODUN FODLPVWKDW
³)URPWKHUHYLHZRIRUJDQL]DWLRQVRFLRORJ\LWLVFOHDUWKDWPRVWUHVHDUFKDQG WKHRUL]LQJKDVEHHQIRFXVHGRQVWUXFWXUHUDWKHUWKDQVWUXFWXUHVVLPLODUO\WKHUH KDV EHHQ D SUHRFFXSDWLRQ ZLWK WLPH UDWKHU WKDQ WLPHV DQG WKHUH KDV EHHQ D QHJOHFW RI WKHcontingent periodicities ZKLFK SURYLGH D FRQWLQXLQJ YLUWXDOO\
GDLO\FKDOOHQJHVWRRUJDQL]DWLRQDOPHPEHUV)ULHGPDQ7KHWHPSRUDO HPEHGGHGQHVVRIRUJDQL]DWLRQDODFWLRQKDVEHHQQHJOHFWHGE\DOOSHUVSHFWLYHV HYHQLQWKHRSHQV\VWHPDSSURDFKHVRI.DW]DQG.DKQ´&ODUN SItalic in origin
,QµWLPHIUHH¶VWXGLHVDFFRUGLQJWR&ODUN¶VH[SODQDWLRQWKHRUHWLFDODVVXPSWLRQV RIHPSLULFDOUHJXODULWLHVDUHEDVHGRQFURVVVHFWLRQDOUHVHDUFKGHVLJQVDQGDVVXPHG WRKROGLUUHVSHFWLYHRIWKHWLPHLQZKLFKWKH\ZHUHXQGHUWDNHQµ2YHUWLPH¶VWXGLHV DUHXVXDOO\EDVHGRQDORQJLWXGLQDOUHVHDUFKGHVLJQDQGXWLOL]HGLQUHODWLRQWRFKDQJH WKHRULHVHLWKHULQUHODWLRQWRPXOWLVWDJHWKHRULHVRIFKDQJHRUWRYDULRXVSURFHVV RULHQWHG WKHRULHV RI FKDQJH 6WXGLHV RQ WLPHODJV LQWHQG WR XQFRYHU WKH ZD\V LQ ZKLFKWKHLQLWLDOLQWHUYHQWLRQHPHUJHVDWDODWHUWLPH7LPHKRUL]RQVRUWLPHVSDQ VWXGLHVDUHIRFXVHGRQGLIIHUHQFHVLQH[SHFWDWLRQVWRUHFHLYHIHHGEDFN$FRPPRQ IHDWXUH RI WKHVH DSSURDFKHV WR WLPH LV WKDW WKH\ DUH DOO EDVHG RQ ³WKH XQLWDU\
IUDPHZRUNRIWLPHDVVRFLDWHGZLWKWKHFDOHQGDUDQGWKHFORFN´&ODUNS 6WLOO&ODUNGRHVQRWXUJHWRDEDQGRQFKURQRORJLFDOWLPHUHFNRQLQJLQ RUJDQL]DWLRQDOVWXGLHVEHFDXVHERWKHYHQWEDVHGDQGFKURQRORJLFDOWLPHUHFNRQLQJ V\VWHPVDUHXVHGLQPRGHUQRUJDQL]DWLRQV,QVWHDG&ODUNVWUHVVHVWKHQHHG IRU D ZLGHU XVH RI WKH ³LQWLPHV´ SHUVSHFWLYH ZLWKLQ RUJDQL]DWLRQDO VRFLRORJ\
SXWWLQJSDUWLFXODUHPSKDVLVRQHYHQWEDVHGWLPHUHFNRQLQJV\VWHPVEHFDXVHRIWKHLU VWUDWHJLFLPSRUWDQFH&ODUNSLQVLVWVWKDWIRUVRFLRORJLFDODQDO\VLVWLPH VKRXOGEHYLHZHGDVDVRFLDOFRQVWUXFWLRQ³RUJDQL]LQJGHYLFHE\ZKLFKRQHVHWRU WUDMHFWRU\RIHYHQWVLVXVHGDVSRLQWRIUHIHUHQFHIRUXQGHUVWDQGLQJDQWLFLSDWLRQDQG DWWHPSWLQJWRFRQWURORWKHUVHWRIHYHQWV´&ODUNHPSKDVL]HVWKDW³WLPHLVinHYHQWV´
DVGRHV+HUQHVDQG³HYHQWVDUHGHILQHGE\RUJDQL]DWLRQDOPHPEHUV´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
WLPHWRPDNHWLPHYLVLEOHIRUKXPDQV$WWKHVDPHWLPH&ODUNGRHVQRWSD\
DWWHQWLRQWRWKHDFWLYHO\FRQVWUXFWHGWHPSRUDOWLPHWKURXJKZKLFKVRPHSRVVLELOLWLHV DUHDFWXDOL]HGDVHYHQWVZKLOHRWKHUSRVVLELOLWLHVUHPDLQDVQRQHYHQWV.DKQHPDQ
2.3 Attemptstomergeclocktimeandsocialtimeinorganizational studies
7DNLQJLQWRDFFRXQWWKHLPSRUWDQFHRIFORFNWLPHLQRUJDQL]LQJRUJDQL]DWLRQDO OLIH &ODUN DQG WKH QRWLRQ WKDW WKH PHDQLQJ RI FORFN WLPH LV VRFLDOO\
FRQVWUXFWHG6RURNLQDQG0HUWRQWKHUHDUHDWWHPSWVWRPHUJHWKHFORFNWLPH DQG VRFLDO WLPH LQ RUJDQL]DWLRQDO VWXGLHV )RU H[DPSOH <DNXUD DQG 2UOLNRZVNLDQG<DWHVKDYHDWWHPSWHGWRPHUJHWKHFORFNDQGVRFLDOWLPHLQ HYHU\GD\OLIHVLWXDWLRQV%RWKSDSHUVXVHWKHWHUPµSOXULWHPSRUDOLW\¶LQWURGXFHGE\
1RZRWQ\FLWHGLQ2UOLNRZVNLDQG<DWHV<DNXUD,QKHUVWXG\
<DNXUDVKRZVKRZWLPHOLQHVEDVHGRQWKHFRQFHSWRIVWDQGDUGL]HGFRQWH[W IUHHFORFNWLPHDUHXVHGE\GLIIHUHQWRUJDQL]DWLRQDOVXEJURXSVWRFRRUGLQDWHDQG V\QFKURQL]HWKHLUDFWLRQV,QKHUVWXG\<DNXUDSSGHILQHGWLPHOLQHV DVERXQGDU\REMHFWVWKDWHQDEOHGLIIHUHQWRUJDQL]DWLRQDODFWRUVWRFRRUGLQDWHWKHLU ZRUNDQGWRKDQGOHDSOXUDOLW\RIVRFLDOWLPHVH[LVWLQJFRQFXUUHQWO\<DNXUD SSVKRZVWKHLPSRUWDQFHRIWLPHOLQHVDUWLIDFWVUHSUHVHQWLQJFORFNWLPH DVWRROVWRPDQDJHGLIIHUHQWDQGSRVVLEO\GLYHUJHQWVXEMHFWLYHXQGHUVWDQGLQJVDERXW REMHFWLYH WLPH GLIIHUHQW RFFXSDWLRQDO UK\WKPV RU F\FOHV DQG WKH GLIIHULQJ H[SHULHQFH RI XUJHQF\ ,W IROORZV WKDW DOWKRXJK WLPHOLQHV DUH EDVHG RQ WKH DVVXPSWLRQRIVWDQGDUGL]HGWLPHWKHLUPHDQLQJLVLQWHUSUHWHGGLIIHUHQWO\EDVHGRQ WKHVSHFLILFVXEJURXSVDSSURDFKWRWLPH
,QRUGHUWRRYHUFRPHWKHREMHFWLYHVXEMHFWLYHWLPHGLFKRWRP\2UOLNRZVNLDQG
<DWHV S XVH WKH WHUP ³WHPSRUDO VWUXFWXUHV´ XQGHUVWRRG DV EHLQJ VLPXOWDQHRXVO\VKDSHGE\DQGVKDSLQJRQJRLQJKXPDQEHKDYLRU,QRUJDQL]DWLRQV WHPSRUDOVWUXFWXUHVDUHUHODWHGWRIRUH[DPSOHZHHNO\PHHWLQJVFKHGXOHVSURMHFW GHDGOLQHVILQDQFLDOUHSRUWLQJEXGJHWLQJHWFDQGLQIOXHQFHWKHDFFHSWHGFRGHRI FRQGXFW%DVHGRQWKHZRUNRI*LGGHQV2UOLNRZVNLDQG<DWHVDUJXHWKDWWKH UHODWLRQVKLSEHWZHHQRQJRLQJKXPDQDFWLRQDQGWHPSRUDOVWUXFWXUHVLVUHFLSURFDO 7KDWLVWHPSRUDOVWUXFWXUHVDVVKDSHGE\RQJRLQJKXPDQDFWLRQDUHQRWLQGHSHQGHQW RIKXPDQDFWLRQEXWVKDSHGE\LW$WWKHVDPHWLPHWHPSRUDOVWUXFWXUHVDUHQRWIXOO\
GHWHUPLQHGE\KXPDQDFWLRQVEHFDXVHWKH\LQWXUQLQIOXHQFHWKHP2UOLNRZVNLDQG
<DWHVSVWUHVVWKDW³VWXG\LQJWLPHLQRUJDQL]DWLRQVUHTXLUHVVWXG\LQJ WLPHLQXVHWKDWLVH[DPLQLQJZKDWRUJDQL]DWLRQDOPHPEHUVDFWXDOO\GRLQSUDFWLFH DQGKRZLQVXFKGRLQJWKH\VKDSHWKHWHPSRUDOVWUXFWXUHVWKDWVKDSHWKHP´:KLOH VHHLQJWKHUHODWLRQVKLSEHWZHHQKXPDQDFWLRQDQGWHPSRUDOVWUXFWXUHVDVUHFLSURFDO WKHXQGHUO\LQJDVVXPSWLRQRI2UOLNRZVNLDQG<DWHVLVWKDWRQO\KXPDQVKDYH DQDJHQWSRZHUDQGWKDWWLPHLVµXVHG¶E\KXPDQDFWRUV
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
6WLOO EHFDXVH WHPSRUDOVWUXFWXUHV DUH DW ILUVW KDQGFUHDWHG E\ KXPDQ DFWLRQ WLPHLVYLHZHGDVUHDOL]HGWKURXJKSHRSOH¶VUHSHDWHGSUDFWLFHV)RFXVLQJRQUHJXODU RQJRLQJ SUDFWLFHV RU HYHQWV QHLWKHU WLPHOLQHV <DNXUD QRU WHPSRUDO VWUXFWXUHV 2UOLNRZVNL DQG <DWHV FDQ H[SODLQ VXGGHQ XQH[SHFWHG DQG XQSUHGLFWDEOHHYHQWV$VVXFKDQDFWLYHUROHDQGDQDJHQWSRZHURIWLPHDUHGHQLHG )RUH[DPSOHLWLVQRWSRVVLEOHWRH[SODLQIXOOVFDOHLPSURYLVDWLRQRUVKLIWLVRQH¶V WHPSRUDORULHQWDWLRQDQGFKDQJHFRPPLWPHQWE\XVLQJWLPHOLQHV
2.4 Thepluralityoftimereckoningsystems
&ODUNDUJXHVWKDWWKHZD\GLIIHUHQWSRVVLEOHWUDMHFWRULHVRIHYHQWVDUH XQGHUVWRRG E\ DFWRUV GHSHQGV RQ WKH DFWRUV¶ SHUVRQDO ELRJUDSKLHV RQ LQWHU VXEMHFWLYHO\FRQVWUXFWHGV\VWHPVNQRZQWRWKHDFWRUVEHORQJLQJWRRQHUHODWLYHO\
VPDOOJURXSDQGRQZLGHUVRFLDOO\FRQVWUXFWHGWUDMHFWRULHV7KHHYHQWWUDMHFWRULHV EHORQJLQJ WR WKH SULYDWH GRPDLQV RI VSHFLILF LQGLYLGXDOV DUH LQIRUPHG E\ WKHVH LQGLYLGXDOV¶ELRJUDSKLHVZKLFKDUHWKHIRXQGDWLRQVIRUVLOHQWµEHFDXVHPRWLYHV¶
6FKW]µ%HFDXVHPRWLYH¶UHIHUVWRDFWRU¶VVXEMHFWLYHH[SHULHQFHVDQG LQWHQWLRQDO DFWV JXLGHG E\ LQWULQVLF DLPV $FFRUGLQJ WR 6FKW] LQ FRQWUDVWWRµLQRUGHUWR¶PRWLYHVZLWKH[WULQVLFDLPDQDFWRULQKLVDFWLRQLVQRW DZDUH RI KLV µEHFDXVHRIPRWLYHV¶ ZKLFK DUH JLYLQJ GLUHFWLRQ WR KLV DFWLRQ
$GGLWLRQDOO\ WKH HYHQW WUDMHFWRULHV EHORQJLQJ WR WKH SULYDWH GRPDLQ RI VSHFLILF LQGLYLGXDOV DUH LQIOXHQFHG E\ SHUVRQDO WLPH IUDPHV 3HUVRQDO WLPH IUDPHV DUH LQIOXHQFHGE\DQLQGLYLGXDO¶VRULHQWDWLRQWRZDUGSDVWSUHVHQWDQGIXWXUHDQGE\
WKHLU LPDJLQDWLRQ RI WKH IXWXUH ,QWHUVXEMHFWLYH WLPH IUDPHV DUH HPEHGGHG LQ SUDFWLFHVJURXSDFWLYLWLHVDQGDFKLHYHPHQWV6RURNLQDQG0HUWRQDQGDUH LQIOXHQFHG E\ WHPSRUDO UHIHUHQFH LQWR FROOHFWLYHO\ UHFRJQL]DEOH HYHQWV ZLWK
UHOHYDQFH+HUQHV3XEOLFWLPHIUDPHVDVSURGXFHGDQGUHSURGXFHGE\DOO PHPEHUVRIVRFLHW\DUHDYDLODEOHWRWKHZKROHVRFLHW\
'DVSRLQWVRXWWKDWWKHFRQFHSWRIFORFNWLPHZKLFKLJQRUHVWKHKXPDQ DFWRUIDOOVVKRUWRISURYLGLQJDQXQGHUVWDQGLQJRIRUJDQL]DWLRQDOSKHQRPHQDLQLWV FRPSOH[LW\/HHDQG/LHEHQDXDUJXHWKDWVWXGLHVEDVHGRQWKHDVVXPSWLRQRI REMHFWLYHWLPHSUHVXPHWKDWDOORUJDQL]DWLRQDOPHPEHUVDGKHUHWROLQHDUWLPHIORZ ZLWKFRQVWDQWSDFHOLNHDVWUDLJKWDUURZDQGEHKDYHDFFRUGLQJWRWKDWEHOLHI7KDW NLQGRIXQLIRUPLW\RIXQGHUVWDQGLQJVLVTXHVWLRQHGE\VFKRODUVVXSSRUWLQJVRFLDO WLPH%OXHGRUQDQG'HQKDUGWSFODLPWKDW³WZRRIWKHIXQGDPHQWDO GLIIHUHQFHVDPRQJSHRSOHDUHWKHLURYHUDOOWHPSRUDORULHQWDWLRQDQGWKHLUGLIIHULQJ DELOLWLHV WR SURMHFW LQWR DQG GHDO ZLWK WKH IXWXUH´ 7KH SHUFHLYHG SRVVLEOH HYHQW WUDMHFWRULHVDUHIDUIURPEHLQJXQLWDU\RUKRPRJHQHRXVDQGWKXVWKHUHLVQRXQLWDU\
KRPRJHQHRXVZD\WRXQGHUVWDQGWLPH5HLQHFNHDQG$QVDULLQWKHLUUHFHQW VWXG\RI)DLUWUDGH/DEHOOLQJ2UJDQL]DWLRQ,QWHUQDWLRQDOSUHVHQWDFRQIOLFWRIWZR UDGLFDOO\ GLIIHUHQW WHPSRUDO RULHQWDWLRQV $V WKH\ VWUHVV LQ WKHLU VWXG\ GLIIHUHQW WHPSRUDO RULHQWDWLRQV DUH DVVRFLDWHG ZLWK GLIIHUHQW ZRUOGYLHZV 5HLQHFNH DQG
$QVDUL
$QFRQDHWDOSUHIHUWRµWHPSRUDOSHUVRQDOLW\¶DVDQLQGLFDWRURI KRZDQDFWRUUHODWHVWRWLPHKLVRUKHUGLVSRVLWLRQDWWLWXGHDQGDSSURDFKWRZDUG WLPH 7HPSRUDO SHUVRQDOLW\ RU WHPSRUDO RULHQWDWLRQ LPSDFWV D SHUVRQ¶V EHKDYLRU XQFRQVFLRXVO\ :LHEH 7KH WZR FDVH VWXGLHV SUHVHQWHG LQWKH WKLUG SDSHU VKRZWKHGLIIHUHQFHVLQKRZGLIIHUHQWHPSOR\HHJURXSVUHODWHWRWKHSDVWSUHVHQW DQG IXWXUH DQG KRZ WKHLU SHUFHLYHG GLIIHUHQW HYHQW WUDMHFWRULHV LPSDFW WKHLU PRWLYDWLRQ WR FRPPLW RU UHMHFW RUJDQL]DWLRQDO FKDQJH %DVHG RQ 0HDG¶V FRQFHSWLRQ RI WKH LQWHUQDO FRQYHUVDWLRQ ZKLFK VKDSHV D SHUVRQ¶V UHIOHFWLRQVDQGDWWLWXGHWRZDUGVRFLDOFRQWH[W(PLUED\HUDQG0LVFKHVXJJHVW WKUHHGLPHQVLRQVWRWKHDJHQF\1DPHO\LWHUDWLRQDO²WKURXJKDQRULHQWDWLRQWRWKH
SDVWSUDFWLFDOHYDOXDWLYH²WKURXJKDQRULHQWDWLRQWRWKHSUHVHQWDQGSURMHFWLYH² WKURXJKDQRULHQWDWLRQWRWKHIXWXUH0XWFKHWDO(PLUED\HUDQG0LVFKH DUJXHWKDWWKHSHUVRQDOH[SHULHQFHRIWLPHLVVWURQJO\LQIOXHQFHGE\KLVKHU VRFLDOLQWHUDFWLRQZKLFKPHDQVWKDWDSHUVRQ¶VUHODWLRQWRWLPHRUKLVKHULQWHUQDO WLPHRULHQWDWLRQLVE\QDWXUHDG\QDPLFRQJRLQJSURFHVVUDWKHUWKDQDVWDWLFWLH (PLUED\HU 7KXV SHUVRQDO WLPH RULHQWDWLRQ KDV D UHFLSURFDO UHODWLRQVKLS ZLWKDSHUVRQ¶VFRQWH[WDQGRQJRLQJLQWHUDFWLRQV(PLUED\HUDQG0LVFKH /RULQR DQG 0RXUH\ 7KLV PHDQV WKDW WLPHUHFNRQLQJ V\VWHPV LQ WKHLU SOXUDOLW\DUHQRWIL[HGDQGVWDWLFEXWHYROYLQJDQGFKDQJLQJLQWKHIORZRIWLPHDVD UHVXOW RI WKH RQJRLQJ LQWHUDFWLRQ DQG SRVVLEOH VKLIWV LQ SHUVRQDO LQWHUQDO WLPH RULHQWDWLRQ7KHVKLIWLQSHUVRQDOLQWHUQDOWLPHRULHQWDWLRQEHFRPHVYLVLEOHLQWKH
*URZLQJ&RPSDQ\FDVHSUHVHQWHGLQWKHWKLUGSDSHU&RPSDULVRQRIWKHUHFUXLWPHQW LQWHUYLHZV¶ QRWHV WR WKH LQWHUYLHZ GDWD FROOHFWHG DSSUR[LPDWHO\ RQH \HDU ODWHU LQGLFDWHV WKDW WKH QHZO\ KLUHG HPSOR\HHV ORVW WKHLU GULYH DQG HQWKXVLDVP IRU LPSOHPHQWLQJFKDQJHGXHWRFRQVWDQWFRQIOLFWVZLWKDQGSDVVLYHUHVLVWDQFHRIWKH ORQJWHQXUHGHPSOR\HHV
2.5 Aneventbasedtime
,Q RUJDQL]DWLRQDO VWXGLHV WKH FRQQHFWLRQ EHWZHHQ WLPH DQG HYHQWV LV DGGUHVVHG LQ WKUHH FRQFHSWXDOO\ GLIIHUHQW ZD\V 7KH ILUVW DSSURDFK LV URRWHG LQ DQWKURSRORJ\DQGYLHZVtime as reckoned in eventsRUHYHQWVDVVLJQLILHUVRIWLPH
&ODUN6RURNLQDQG0HUWRQ(YHQWVDVVLJQLILHUVRIWLPHPHDQVWKDW VRFLDO DFWLYLWLHV SURYLGH VSHFLILF TXDOLWLHV WR WKH SHULRGV RI WLPH WKH\ EHORQJ WR 6RURNLQDQG0HUWRQS6RURNLQDQG0HUWRQKLJKOLJKWWKDW³WKHVRFLDO OLIH RI WKH JURXS LV UHIOHFWHG LQ WLPH H[SUHVVLRQV 7KH QDPHV RI GD\V PRQWKV VHDVRQV DQG HYHQ \HDUV DUH IL[HG E\ WKH UK\WKP RI VRFLDO WLPH´ 6RURNLQ DQG 0HUWRQ)RUH[DPSOHLQWKH(VWRQLDQµROGSHRSOH¶VFDOHQGDU¶ZKLFK
GRHVQRWUHIHUWRHOGHUO\SHRSOHEXWWRWKHDQFLHQWSHRSOHWKHQDPHVRIWKHPRQWKV ZHUH UHODWHG WR VSHFLILF DFWLYLWLHV XVXDOO\ SHUIRUPHG DW WKDW WLPH 7KHUH LV
³NQQLNXX´UHIHUULQJWR$SULOZKHQLWZDVWLPHWRSORZILHOGV³KHLQDNXX´UHIHUULQJ WR-XO\ZKHQLWZDVWLPHWRPDNHKD\³O}LNXVNXX´UHIHUULQJWR$XJXVWZKHQLWZDV WLPH WR FROOHFW WKH KDUYHVW DQG VR RQ 7KHVH SHULRGV LQGLFDWH WKH DSSUR[LPDWH GXUDWLRQ RI RQH RU DQRWKHU DFWLYLW\ 7KH H[DFW WLPH WR EHJLQ D VSHFLILF DFWLYLW\
GHSHQGHG RQ WKH ZHDWKHU FRQGLWLRQV 7KHUHIRUH LW ZDV LPSRUWDQW WR UHFNRQ WKH FRUUHFWWLPHIRUWKHVSHFLILFHYHQWLQWKHVXUURXQGLQJHYHQWVZKLFKOHDGVWRWLPH UHFNRQLQJV\VWHPV&ODUN
7KHHYHQWEDVHGWLPHUHFNRQLQJV\VWHPVDUHQRWUHVHUYHGµSULPLWLYHSHRSOH¶
6RURNLQDQG0HUWRQSRUVRFLHWLHV7KHLPSRUWDQFHRIHYHQWEDVHG WLPHUHFNRQLQJV\VWHPVDVWRROVIRURUJDQL]LQJVRFLDOOLIHDQGXQGHUVWDQGLQJRQ JRLQJDQGDQWLFLSDWHGHYHQWVLVKLJKOLJKWHGIRUH[DPSOHE\$GDPDQG
&ODUN7KHPDLQDVVXPSWLRQRIYLHZLQJWLPHDVUHFNRQHGLQHYHQWVLVWKDW WLPH EHFRPHVvisible LQ VRFLDO DFWLYLWLHV DQG LV REVHUYDEOH LQ HYHQWV GHILQHG E\
VRFLDODFWRUV$GDP&ODUN7KHPHDQLQJDVFULEHGWRWKHREVHUYHGWLPH LQ HYHQWV DOORZV VRFLDO DFWRUV WR FRQVWUXFW HYHQW WUDMHFWRULHV DQG FRQVWUXFW H[SHFWDWLRQV DERXW ZKDW NLQGV RI HYHQWV ZLOO IROORZ DQG ZKHQ )RU H[DPSOH UHFRJQL]LQJPDUNHWWUHQGVRUXQGHUVWDQGLQJHFRQRPLFF\FOHVRUFKDQJHVLQVRFLHWLHV UHODWHGWRJHQHUDWLRQDOVKLIWV7KHUHIRUHLWLVLPSRUWDQWWRUHDGHYHQWVRUUHFNRQLQJ WLPHLQHYHQWVFRUUHFWO\WRDGMXVWDFWLYLWLHVDFFRUGLQJO\&ODUN
$FFRUGLQJWRDQRWKHUYLHZWLPHLVVHHQDVDVLJQLILHURIDQRUGHURIHYHQWV
%DUQHWW(YHQWVDUHYLHZHGDVILQLVKHGGLVFUHWHDQGDUUDQJHGVHTXHQWLDOO\
LQ WLPH )RU H[DPSOH WKH $FDGHP\ RI 0DQDJHPHQW 5HYLHZ VSHFLDO LVVXH GHYRWHGWRWLPHDQGWHPSRUDOLW\$QFRQDHWDOLPSOLHVDVHTXHQWLDOYLHZRI HYHQWV6LPLODUO\WKH$FDGHP\RI0DQDJHPHQW-RXUQDOVSHFLDOLVVXHGHYRWHG WRSURFHVVXDOUHVHDUFK/DQJOH\HWDOSRUWUD\VHYHQWVDVVHTXHQWLDOGLVFUHWH
ILQLVKHGLH-D\*HKPDQHWDOYDQ2RUVFKRWDQGIRFXVHVRQ WKHFDXVDOUHODWLRQVKLSEHWZHHQHYHQWVRYHUWLPH
$VHTXHQWLDOWLPHFRUUHVSRQGVWR0F7DJJDUW¶V%VHULHVWLPH%DNNHQHWDO ZKHUH³WLPHDSSHDUVWKURXJKWKHLVRODWLRQRIHYHQWVLQVHULHVRQHHYHQWFDQ RFFXUEHIRUHDWWKHVDPHWLPHRUDIWHUDQRWKHUHYHQW´%DNNHQHWDOS 7KHSHUVSHFWLYHRIDVHTXHQWLDORU%VHULHVWLPHDIIRUGV³GLVWLQFWLRQVEHWZHHQFDXVHV EHIRUHDQGHIIHFWVDIWHUDQGWKHSRVVLELOLW\RIHIILFLHQF\JDLQVZKHQLVRODWHG HYHQWVWKLQJVDQGDFWLYLWLHVDUHVHTXHQWLDOO\UHDUUDQJHGVRWKDWZRUNIORZVFDQEH FRRUGLQDWHGDQGFRPSDFWHGDORQJOLQHDUD[HVRIWLPH´,ELG$VDVHTXHQWLDOYLHZ RIWLPHDOORZVGUDZLQJFDXVDOFRQQHFWLRQVEHWZHHQHYHQWVLWKDVDWWUDFWHGDORWRI DWWHQWLRQDQGLWLVZLGHO\XVHGLQPDQDJHPHQWDQGRUJDQL]DWLRQVWXGLHV,Q&KDSWHU ,GLVFXVVWKHVHTXHQWLDORUSHULRGLFYLHZRIHYHQWVDQGLWVOLPLWDWLRQVLQPRUH GHWDLO
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
&KDSWHUZHKLJKOLJKWWKHQRWLRQRILPPDQHQFH7KHLPPDQHQFHRIWKHSDVWDQG IXWXUHLQWKHSUHVHQWUHODWHVHYHQWVWHPSRUDOO\DQGJLYHVWRWLPHLWVDJHQF\
$ VSHFLDO LVVXH RI WKH 6FDQGLQDYLDQ -RXUQDO RI 0DQDJHPHQW HGLWHG E\
+HUQHV 6LPSVRQ DQG 6|GHUOXQG LV IRFXVHG RQ WKH WHPSRUDO FRQQHFWLRQV EHWZHHQHYHQWV7RSLFVFRYHUHGLQWKLVVSHFLDOLVVXHDUHIRUH[DPSOHWKHGLIIHUHQW
W\SHVRIWLPHWKHFRQWLQXLW\RIWKHSDVWSUHVHQWDQGIXWXUHDQGWKHHPHUJHQFHRI FUHDWLYLW\LQVWUDWHJ\PDNLQJ7KHPHVVDJHIRUZDUGHGE\WKHDUWLFOHVSXEOLVKHGLQ WKLVVSHFLDOLVVXHLVWKDWWKHSDVWDQGIXWXUHDUHQRWGLVWLQFWHOHPHQWVIRUWKHDFWRUV LQ WLPH DQG HYHQWV ,QVWHDG WKH SDVW DQG IXWXUH FRQVWLWXWH WKH SUHVHQW ZKLFK LV LQWULQVLFDOO\RQJRLQJ7KHUHIRUHWKHSDVWDQGIXWXUHEHORQJWRWKHSUHVHQWWKH\DUH QRWVHSDUDWHGIURPWKHSUHVHQW
7HPSRUDOLW\ LQ VHQVHPDNLQJ LV EURXJKW IRUZDUG E\ :LHEH DQG
*HSKDUW HW DO 7KHUH KDV EHHQ VRPH ZRUN GHYRWHG WR WKH LPSRUWDQFH RI WHPSRUDOVSDQDQGWKHDELOLW\WRGUDZIURPWKHSDVWLQDQDWWHPSWWRFUHDWHWKHIXWXUH )RUH[DPSOH6FKXOW]DQG+HUQHVKDYHKLJKOLJKWHGWKHRQJRLQJWHPSRUDOLW\
DERXW LGHQWLW\ UHFUHDWLRQ DQG .DSODQ DQG 2UOLNRZVNL DERXW VWUDWHJ\
FUHDWLRQ0RUHUHFHQWO\+XVVHQRWDQG0LVVRQLHUforthcomingKDYHVWXGLHGKRZ WLPHDVHYHQWVDUHHQDFWHG6WLOOWKHDFWLYHUROHRIHYHQWEDVHGWLPHDQGWHPSRUDOLW\
LQ RUJDQL]DWLRQDO VHWWLQJV UHPDLQV XQGHUVWXGLHG 7KH SHUVSHFWLYH RI HYHQWEDVHG WLPHLVH[SODLQHGLQPRUHGHWDLOLQVXEVHFWLRQ
3. APERIODICVIEWOFTIMEANDITSLIMITATIONS
$SHULRGLFYLHZRIWLPHUHIHUVWRHSLVRGHVRUHYHQWVZLWKLGHQWLILDEOHVWDUWLQJ DQG HQGLQJ SRLQWV ,GHQWLILDEOH VWDUWLQJ DQG HQGLQJ SRLQWV HQDEOH XV WR FUHDWH D FKURQRORJ\RIHYHQWV)RUH[DPSOHP\JUDQGPRWKHUZKROLYHGEHWZHHQ XVHGWRWDONDERXWGLIIHUHQWHUDV,QKHUSHUFHSWLRQWKHUHZHUHPRUHRUOHVV GLVWLQJXLVKHGHUDVZLWKYHU\VSHFLILFFKDUDFWHUV1DPHO\VKHXVHGWRWDONDERXWWKH µ7VDULVWHUD¶WKHµ*HUPDQHUD¶WKHµ(VWRQLDQHUD¶WKHµ5XVVLDQHUD¶DQGWKHµQHZ HUD¶7KHµ7VDULVWHUD¶UHIHUVWRWKH\HDUVXSXQWLOZKHQ(VWRQLDZDVXQGHUWKH FRQWURO RI WKH 5XVVLDQ 7VDULVW VWDWH 7KH µ*HUPDQ HUD¶ UHIHUV WR WKH *HUPDQ RFFXSDWLRQRI(VWRQLDDQGODWHU7KHµ(VWRQLDQHUD¶UHIHUV WRWKHILUVW(VWRQLDQ5HSXEOLFDQGWKHµ5XVVLDQHUD¶UHIHUVWRWKH6RYLHW 5XVVLDQRFFXSDWLRQEHWZHHQDQG7KHµQHZHUD¶
UHIHUVWRWKHSHULRGDIWHU(VWRQLDUHJDLQHGLWVLQGHSHQGHQFHLQ,QGHHGLIRQH UHDGVKLVWRULFDOUHFRUGVRQHFDQUHFRJQL]HWKDWWKHVHWLPHVDUHGLIIHUHQWKDYLQJD YHU\GLIIHUHQWLPSDFWRQWKHOLYHVRIWKHSHRSOHOLYLQJGXULQJWKHVHHUDV
$ SHULRGLF YLHZ RI WLPH LV DOVR ZLGHO\ XVHG LQ RUJDQL]DWLRQDO VWXGLHV WR FRPSDUHµEHIRUH¶DQGµDIWHU¶FRQGLWLRQVRUGHYHORSPHQWRIVRPHVSHFLILFFRQGLWLRQ RYHUWLPH)RUH[DPSOHWKHVWXGLHVZKHUHWKHFRQGLWLRQVRUVWDWHVRIVRPHWKLQJDUH PHDVXUHGUHVSHFWLYHO\DWWKHWLPHSRLQWVWWWDQGW\HJ$OOHQHWDO9DQ 2RUVFKRWHWDO5HVXOWVREWDLQHGDWHDFKWLPHSRLQWDUHFRPSDUHGWRHDFK SUHFHGLQJUHVXOWWRGHWHUPLQHWKHUDWHRIFKDQJHDQGSRVVLEOHHIIHFWLYHQHVVRIFKDQJH LQWHUYHQWLRQ$SHULRGLFYLHZRIWLPHLVPRVWRIWHQXVHGWRFRPSDUHWKHVSHFLILF VWDWHRUFRQGLWLRQEHWZHHQGLIIHUHQWSHULRGVRIWLPHZKLOHWUHDWLQJWKHVHSHULRGVDV GLVFUHWH
0RUH UHFHQWO\ D SHULRGLF DSSURDFK LV SUHVHQWHG LQ WKH $FDGHP\ RI 0DQDJHPHQW-RXUQDOVSHFLDOLVVXHGHYRWHGWRµSURFHVVVWXGLHVRIFKDQJHLQ
RUJDQL]DWLRQDQGPDQDJHPHQW¶/DQJOH\HWDOS7KLVVSHFLDOLVVXHZKLOH EHLQJ FULWLFDO DERXW µYDULDQFH WKHRUL]LQJ¶ DV WLPHOHVV,IRFXVHV PDLQO\ RQ FKDQJH µRYHUWLPH¶UHSUHVHQWLQJDSHULRGLFWLPHDSSURDFK/DQJOH\HWDOS$
FRPPRQIHDWXUHRITXDOLWDWLYHVWXGLHVSUHVHQWHGLQWKLVVSHFLDOLVVXHLVµWHPSRUDO EUDFNHWLQJ RU GHFRPSRVLWLRQ¶ /DQJOH\ HW DO S )RU H[DPSOH 9DQ 2RUVFKRW DQG FROOHDJXHV DQDO\]H WKH LPSDFW RI VOLSSLQJ VFKHGXOHV LQ WKH ERXQGDU\RIIL[HGGXHGDWHVRIDSURMHFW$GGLWLRQDOO\WKH\IRFXVRQWKHUHODWLRQVKLS EHWZHHQQXPEHUDQGFDWHJRULHVRIHYHQWVSRVLWLYHQHJDWLYHDQGQHXWUDODQGWKH GHFLVLRQWRWHUPLQDWHWKHSURMHFW,QWKHLUDUWLFOH9DQ2RUVFKRWHWDODGGUHVV WKH FRQFHSW RI WHPSRUDOLW\ DV D VFKHGXOLQJ SUREOHP DQG HYHQWV DV FOHDUO\
FDWHJRUL]DEOHSRVLWLYHQHJDWLYHDQGQHXWUDODQGGLVFUHWH7KXVDSHULRGLFYLHZRI WLPHPD\EHXVHIXOWRLQYHVWLJDWHWKHRFFXUUHQFHDQGUHFXUUHQFHRIEUHDNVLQWKH VWUXFWXUDOPHFKDQLVPV
3.1 Limitationsandcriticismsofaperiodicviewoftime
6HHLQJ WKH SDVW SUHVHQW DQG IXWXUH RXWVLGH RI HDFK RWKHU HQDEOHV XV WR FRQVWUXFW FDXVDOLW\ EHWZHHQ HYHQWV RU WKLQJV $ SUHUHTXLVLWH IRU FDXVDOLW\ LV D WHPSRUDOVHSDUDWLRQEHWZHHQHYHQWV%HFDXVH³DFDXVDOUHODWLRQVKLSFDQRQO\KROG EHWZHHQHYHQWVLIWKH\DUHVHSDUDWHGWHPSRUDOO\VRWKDWDOLJKWVLJQDORUDQ\WKLQJ VORZHUFDQSDVVEHWZHHQWKHP´$GDPS7KXVZKHQWKHIRFXVLVRQ WKH HVWDEOLVKPHQW RI FDVXDO FDXVHHIIHFW OLQNV WKH SDVW DQG SUHVHQW DUH VHHQ DV VHSDUDWHGLVFUHWHHYHQWVLQVWHDGRIWHPSRUDOO\H[WHQGLQJHYHQWV6QRZGHQS VWUHVVHVWKHµSKHQRPHQRQRIUHWURVSHFWLYHFRKHUHQFH¶RUµUHWURVSHFWLYHLOOXVLRQ¶
E\DUJXLQJWKDW³WKHFXUUHQWVWDWHRIDIIDLUVDOZD\VPDNHVORJLFDOVHQVHEXWRQO\
ZKHQZHORRNEDFNZDUGV7KHFXUUHQWSDWWHUQLVORJLFDOEXWLVRQO\RQHRIPDQ\
SDWWHUQVWKDWFRXOGKDYHIRUPHGDQ\RQHRIZKLFKZRXOGEHHTXDOO\ORJLFDO´7KH PHVVDJHIURP6QRZGHQLVWKDWFDXVDOOLQNVFRXOGEHHVWDEOLVKHGVRWKDWWKH
SDVWVHUYHVDVDQH[SODQDWLRQWRWKHSUHVHQW7KXVLWLVSRVVLEOHWRH[SODLQZLWK KLQGVLJKWWKH³H[LVWLQJ´FDXVDOUHODWLRQVKLS.DKQHPDQ$WWKHVDPHWLPH DOWHUQDWLYHSRVVLELOLWLHVDUHRYHUORRNHGDVWKHUHPD\EHQRFOHDUWHPSRUDOVHSDUDWLRQ EHWZHHQWKHHYHQWVEXWRQHHYHQWH[WHQGVRYHURUSUHKHQGVWRDQRWKHUZLWKRXWWKH FOHDUWHPSRUDOVHSDUDWLRQLQWKHIORZRIWLPH
$VVXPHGFDXVDOLW\PHDQVWKDWWKHZRUOGLVVHHQDVDSUHGLFWDEOHRXWFRPHRI FRQILUPHG ODZV LQ DFWLRQ .DKQHPDQ 7KH ZRUOGYLHZ OHG E\ DVVXPHG FDXVDOLW\ EDVHG RQ IL[HG ODZV WHQGV WR QHJOHFW SRVVLEOH DOWHUQDWLYHV KRZ WKLQJV FRXOGKDYHWXUQHGRXWLQVWHDGRIKRZWKH\DFWXDOO\WXUQHGRXW3UHGLFWDELOLW\WHQGV WR RYHUORRN WKH IDFW WKDW WKHUH DUH RWKHU SRVVLELOLWLHV WKDW DUH RSHQ DV DFDXVDO GHYHORSPHQWVHQDEOHGE\WHPSRUDOH[WHQVLRQ.DKQHPDQSFODLPVWKDW
³WKHKXPDQPLQGGRHVQRWGHDOZHOOZLWKQRQHYHQWV´)RUWKHKXPDQPLQGLWLV PRUHFRQYHQLHQWWRLJQRUH³WKHP\ULDGRIHYHQWVWKDWZRXOGKDYHFDXVHGDGLIIHUHQW RXWFRPH´ ,ELG 0RUHRYHU SUHGLFWDELOLW\ LV EDVHG RQ IL[HG ODZV DQG UXOHV WKDW DVVXPHWKDWWKHceteris paribus HYHU\WKLQJHOVHEHLQJHTXDO FRQGLWLRQKROGV,QWKH FRPSOH[LQWHUGHSHQGHQWDQGLQWUDDFWLQJVRFLDOZRUOGWKHceteris paribusFRQGLWLRQ LVILFWLRQDOEHFDXVHZHDUHQRWGHDOLQJZLWKGLVFUHWHEXWLQWHUWZLQHGSURFHVVHVZLWK UHFLSURFDOLQIOXHQFHV6WDNH
%\LJQRULQJFRPSOH[LW\LQWHUGHSHQGHQFHDQGLQWUDDFWLRQVZHHQGXSZLWKD VLPSOLILHGZRUOGYLHZ6WDNH:KLWHKHDGUHIHUULQJ WR 1HZWRQLDQ¶V SK\VLFV LQDGHTXDF\ WR H[SODLQ IRU H[DPSOH DFDXVDO WHPSRUDO FRQQHFWLRQV IRXQG LQ TXDQWXP SK\VLF KDV ZDUQHG DERXW WKLV NLQG RI RYHU VLPSOLILFDWLRQ UHIHUULQJ WR WKH µIDOODF\ RI PLVSODFHG FRQFUHWHQHVV¶ DQG µVLPSOH ORFDWLRQ:KLWKHKHDGSSZKLFKDUHLJQRULQJ³WKHGHJUHHRI DEVWUDFWLRQ LQYROYHG´ :KLWHKHDG S DQG YLHZLQJ HQWLWLHV DV RFFXS\LQJDFOHDUO\GHILQDEOHSRLQWLQVSDFHWLPH7KHceteris paribusDVVXPSWLRQ LVEDVHGRQDQRYHUVLPSOLILFDWLRQRIH[LVWLQJFRPSOH[LWLHV6WDNHZKLFKPD\
OHDGWRWKHXQMXVWLILHGIHHORIFRQWURORYHUWKHZRUOGDQGZKLFKPD\WKXVOHDGWR VHULRXVFRQVHTXHQFHV,WLVWHPSWLQJWRTXRWH7ROVWR\¶VQRYHOWar and PeaceTXRWHGLQ0DF.D\DQG&KLDSKHUH³:KLOH1DSROHRQWKRXJKW KHZDVLQFRQWURORIHYHQWVWKH5XVVLDQJHQHUDO.XWX]RYNQHZWKDWQHLWKHURIWKHP ZHUH DQG VR PDGH IHZHU PLVWDNHV´ 7KXV DVVXPLQJ WR KDYH FRQWURO ZKLOH QRW JUDVSLQJWKHWHPSRUDOFRPSOH[LW\RIWKHVLWXDWLRQDQGWKHWLPHHPEHGGHGLQWKH HYHQWVWHQGVWROHDGWRPLVFRQFHSWLRQVDQGHYHQWRIDWDOHUURUV&ODUN)RU H[DPSOH WKH IDOO RI WKH ILOP FDPHUD SURGXFHU .RGDN RU FHOOSKRQH PDQXIDFWXUH 1RNLD ZKLFK KDYH EHFRPH D WH[WERRN FDVHV %RWK FRPSDQLHV ZHUH WKH PDUNHW OHDGHUVLQWKHLULQGXVWULHVEXWORVWWKHLUJUDVSRYHUWKHPDUNHWDQGFHDVHGWRH[LVW
$OWKRXJKERWKFRPSDQLHVUHFRJQL]HGWKHORRPLQJWKUHDWV±GLJLWDOWHFKQRORJ\DQG L3KRQHUHVSHFWLYHO\WKH\LQWHUSUHWHGWKHVHDVWKHWKUHDWVRIFRPSHWLWLRQQRWDVWKH VKLIWV RI HYHQWWUDMHFWRULHV 7KH\ ZHUH WRR VORZ WR UHDFW WR WKH FKDQJLQJ HYHQW WUDMHFWRULHVEHFDXVHWKH\ZHUHXQDEOHWRUHDGWKHWLPHLQHYHQWVFRUUHFWO\DQGDGMXVW WKHLUEXVLQHVVPRGHOVDFFRUGLQJO\
/DQJOH\ HW DO VWUHVV WKDW WKH SRZHU RI WHPSRUDO EUDFNHWLQJ LV LWV FDSDFLW\WRLGHQWLI\WKHUHFXUUHQFHRIVSHFLILFWKHRUHWLFDOPHFKDQLVPVRYHUWLPHDQG LWVHUYHVDVDWRROWRFRQVWUXFWHYHQWVDQGDFWLYLWLHVDVSURJUHVVLYHDQG³VHSDUDWHGE\
LGHQWLILDEOH GLVFRQWLQXLWLHV LQ WKH WHPSRUDO IORZ´ /DQJOH\ HW DO S
$OWKRXJKDSHULRGLFYLHZVHHVWKHSDVWVWDJHVLQWKHFKDQJHSURFHVVDVLQIOXHQFLQJ WKHSUHVHQWVWDJHVDQGWKHSUHVHQWVWDJHVLQWXUQDVLQIOXHQFLQJWKHIXWXUHVWDJHVWKH SDVWLVWUHDWHGDVILQLVKHG+XVVHQRWDQG0LVVRQLHUforthcoming7KXVDSHULRGLF YLHZRIWLPHGLVFDUGVWKHRSHQQHVVRIWKHSDVWLWVDFWLYHFRQVWUXFWLRQLQWKHSUHVHQW EDVHGRQVHOHFWLYHO\FKRVHQPHPRU\FXHV6FKXOW]DQG+HUQHV
%\XVLQJEUDFNHWLQJRIIWKHHYHQWLVQRWRQO\FXWRIIIURPWKHZKROHLWEHORQJV WREXWLWVWHPSRUDOFRQQHFWLRQVWRLWVSDVWDQGIXWXUHDUHFXWRIIDVZHOO$FFRUGLQJ WR +HUQHV SS ³7KLV VXJJHVWV WKDW WKH SUHVHQW H[SHULHQFH PD\ EH
FRPSDUHGWRSUHYLRXVH[SHULHQFHDVLIWKH\DUHGLVWLQFWWHPSRUDOXQLWVWKDWFDQEH KHOGXSDJDLQVWRQHDQRWKHU´(YHQWVYLHZHGDVGLVFUHWHDUHVHHQDVWHPSRUDULO\
UHODWHGWKURXJKWKHVXFFHVVLYHRUGHUDVORJLFDORXWFRPHVRISUHYLRXVHYHQWVZKLOH VWLOOVHSDUDWHIURPWKRVHSUHYLRXVHYHQWV,IYLHZHGDVVHSDUDWHGHYHQWVDUHVHHQQRW FRQVWLWXWLYHRIRQHDQRWKHU+HUQHV+XVVHQRWDQG0LVVRQLHUforthcoming DVWKH\ZRXOGLQDSURFHVVYLHZWREHGLVFXVVHGEHORZ5HVSHFWLYHO\LIYLHZHGDV ODFNLQJFRQVWLWXWLYHSRZHUHYHQWVDOVRORVHWKHLUDJHQF\7KXVSHULRGLFDQDO\VHV WHQGWRRYHUORRNWKHWHPSRUDOFRPSOH[LW\RIHYHQWVDQGWKHDJHQF\WKDWHYHQWVPD\
KDYHLQUHFUHDWLQJWKHPHDQLQJRISDVWHYHQWVDQGWKHLQIOXHQFHWKH\FDQH[HUWRQ WKHWUDMHFWRULHVRIWKHIXWXUHHYHQWV
%UDFNHWLQJ RU FXWWLQJ RII WKH UHVHDUFK WDUJHW IURP LWV FRQWH[W LQFOXGLQJ WHPSRUDO FRQQHFWHGQHVV LV KLJKO\ FULWLFL]HG E\ SKLORVRSKHUV ZLWK SURFHVVXDO RULHQWDWLRQHJ+HLGHJJHU3RODQ\L6FKW]:KLWHKHDG 7KH EUDFNHWLQJ RII LJQRUHV WKH LQWHUWZLQHG PHVVLQHVV RI WKH ZRUOG +HLGHJJHU+ROWDQG6DQGEHUJDQGIRFXVRQGLVWLQFWLRQV7KHVH GLVWLQFWLRQV DUH VRPHWKLQJ WR ZKLFK :KLWHKHDG S UHIHUV WR DV µVLPSOHORFDWLRQ¶$V&KLDSH[SODLQV³VLPSOHORFDWLRQHPSKDVL]HVWKH LQKHUHQW ORFDWDELOLW\ RI DOO H[SHULHQFHG SKHQRPHQD LQ VSDFHWLPH )RU FDXVDO DQDO\VLVWRVXFFHHGLWPXVWILUVWEHSRVVLEOHWRORFDWHDQGLVRODWHERWKFDXVDOIDFWRUV DQG WKHLU HIIHFWV³ :LWK µVLPSOH ORFDWLRQ¶ :KLWHKHDG UHIHUUHG WR VHSDUDWLRQ RU EUDFNHWLQJ RXW UHVXOWLQJ LQ WKH YLHZ WKDW REMHFWV RU HYHQWV RFFXS\LQJ D XQLTXH ORFDWLRQLQWKHVSDFHWLPHEHLQJKHUHDQGQRZ+HUQHVSS+HLGHJJHU SSRLQWVRXWWKDW³QRZWLPH´LVEDVHGRQWKHYLHZWKDWHDFKFDVH KDV LWV RZQ ³QRZWLPH´ $V D UHVXOW ³WKH HFVWDWLFDO FRQVWLWXWLRQ RI WHPSRUDOLW\´
ZKLFK LV D IRXQGDWLRQ RI GDWDELOLW\ DQG VLJQLILFDQFH LV OHYHOHG RII +HLGHJJHU S7KDWLVLIHYHQWVORVHWKHLUDJHQF\WKHLUSRZHUWRLQIOXHQFH RWKHUHYHQWVLQWKHSUHVHQWSDVWDQGIXWXUHWKHQDOVRWLPHZKHQYLHZHGDVHYHQW
EDVHGORVHVLWVDJHQF\,QWKHIUDPHZRUNRI³QRZWLPH´ZKHUHWLPHLVVHHQDVD SXUHVXFFHVVLRQLWGRHVQRWKDYHVLJQLILFDQFH+HLGHJJHU
)XUWKHUPRUH &ODUN S VWDWHV WKDW µRYHU WLPH¶ DQDO\VLV WHQGV WR SUHVHQWHYHU\GD\OLIHDV³EHLQJVLJQLILFDQWO\VKDSHGE\WKHKLVWRULFDOSDVW´ZKLOH WKHKLVWRULFDOSDVWLVVHHQDVSDVVLYHDQGLQHUWUHODWLYHO\XQLWDU\FOHDUFRKHUHQWDQG IL[HG7KDWW\SHRIDQDO\VLVLVODFNLQJWKH³SOXUDOLW\RIYDULHG³FKURQRORJLFDOFRGHV´
&ODUN S ZKLFK LV WKH FRQFHUQ RI KLVWRULDQV ZKHQ UHFRQVWUXFWLQJ D FKURQRORJLFDO DFFRXQW RI HYHQWV 7KXV SHULRGLF DQDO\VLV ZKHWKHU YLHZHG DV D FKURQRORJLFDORUEHIRUHDIWHUFRPSDULVRQGHQRWHVWKHRUGHUO\VXFFHVVLRQRIGLVFUHWH HYHQWVDQGDFWVLQWLPH6FKXOW]DQG+HUQHV%\DVVXPLQJHLWKHUDEHIRUHDQG DIWHURUDVHTXHQWLDODQGVHULDOYLHZRIRUJDQL]DWLRQDOFKDQJHWKHWKHRUL]LQJXQGHUD SHULRGLF YHLZ LV VWLOO EDVHG RQ WLPH DV DQ H[WHUQDO IUDPHZRUN &ODUN )RFXVLQJ RQ FDXVDO UHODWLRQVKLSV EHWZHHQ WKH FOHDUO\ GLVWLQJXLVKDEOH VWDJHV RI FKDQJHDSHULRGLFYLHZDVVXPHVDVSDWLDODQGWHPSRUDOVHSDUDWLRQRIHYHQWV
4. APROCESSUALVIEWOFTIME
7KHRQWRORJLFDODVVXPSWLRQRIDSURFHVVWKHRU\LVWKDW³WKHZRUOGH[LVWVDV IORZVLQZKLFKHQWLWLHVDUHLQDVWDWHRIEHFRPLQJUDWKHUWKDQDVDILQDOVWDWHRIEHLQJ´
+HUQHVS7KHWZRZRUGV²µIORZV¶DQGµEHFRPLQJ¶²GHVHUYHH[WUD DWWHQWLRQ6LPLODUWRWKHWKHRU\RIGLVVLSDWLYHVWUXFWXUHVDSURFHVVXDOYLHZLQVWHDG RI IRFXVLQJ RQ IL[HG HQWLWLHV LQ FORVHG V\VWHPV IRFXVHV RQ RQJRLQJ UHODWLRQV RU SURFHVVHV+HUQHV7KHVHUHODWLRQDOSURFHVVHVDUHGHVFULEHGDVIORZVLQWKH RSHQV\VWHPV(GZDUGVDQG-DURV7VRXNDVDQG&KLD)RUH[DPSOH )HOGPDQKDVGHVFULEHGURXWLQHVDVIORZV7VRXNDVDQG&KLDSS DUHWDONLQJDERXWµDIORZRISRVVLELOLWLHV¶DQGµDIORZRIRSSRUWXQLW\GULYHQ FKRLFHV¶ +HUQHV UHIHUV WR SURFHVVHV DV IORZV :HLFN UHIHUV WR VHQVHPDNLQJDVIORZ%DNNHQHWDOGHVFULEHH[SHULHQFHVDVIORZV
7KHFRQFHSWRIµEHFRPLQJ¶:KLWHKHDGSUHVXSSRVHVWHPSRUDOLW\
PDGHSRVVLEOHE\EHLQJLQWKHIORZRIWLPH7KDWLVEHFRPLQJLVDQH[WHQVLRQRU µSUHKHQVLRQ¶:KLWHKHDGSLQWLPH%HFRPLQJLVHPHUJLQJDVHOI UHSOLFDWLQJSURFHVVLQWKHWHPSRUDOO\WDQJOHGZHEOLNHZRUOG(GZDUGVDQG-DURV +HUQHV,QSURFHVVWKHRULHVEHFRPLQJWHPSRUDOLW\DQGSDVVLQJ WLPHDUHVHHQDVFORVHO\UHODWHGWHUPV$FRPPRQIHDWXUHRIVXFKSURFHVVWKLQNHUV DV :KLWHKHDG 0HDG DQG +HLGHJJHU LV WKDW WKH\ DOO VHH IXWXUHV DQG SDVWV DV XQFHDVLQJO\DQGPXWXDOO\FRFRQVWLWXWLQJ+HUQHVHWDO,WLVLPSRUWDQWWR UHFRJQL]H WKDW VXFK XQFHDVLQJ PXWXDO FRFRQVWLWXWLQJ ZKLFK LV WKH EDVLV RI WHPSRUDOLW\LVPDGHSRVVLEOHE\WKHSDVVLQJWLPH7KDWLVWHPSRUDOLW\LVSRVVLEOH RQO\ LQ WKH IORZLQJ WLPH DV WKHUH FDQQRW EH WHPSRUDOLW\ LI WLPH VWD\V VWLOO 7KH SDVVLQJFKDUDFWHUPHDQVWKDWWLPHLVVLPXOWDQHRXVO\HPHUJLQJDQGSHULVKLQJ0HDG :KLWHKHDG7KHVLPXOWDQHRXVO\HPHUJLQJDQGSHULVKLQJ
QDWXUHRIWLPHHQDEOHVEHFRPLQJZKLFKLVPDGHYLVLEOHWKURXJKHYHQWV+HUQHV
4.1 Temporalitytheinterplaybetweenpastpresentfuture
,QSURFHVVWKHRU\WKHHPHUJLQJUHDOLW\LVFKDUDFWHUL]HGE\XQSUHGLFWDELOLW\
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
%DNNHQ HW DO .DKQHPDQ ZKHWKHU SHUVRQDO RUJDQL]DWLRQDO RU QDWLRQDO7KHUHLQWHUSUHWDWLRQRIWKHSDVWUHTXLUHVWKHIXWXUH+HOLQHWDO
$FFRUGLQJWR+XVVOHUTXRWHGLQ$GDPS³HYHQDFRQFHUQZLWKVKRUW WHUP PHPRU\ KDV WR LQFOXGH IXQGDPHQWDOO\ WKH IXWXUH GLPHQVLRQ´ 7KXV WKH PHDQLQJRIWKHSDVWLVPHGLDWHGWKURXJKWKHIXWXUHDVLWLVVHHQLQWKHSUHVHQW7KHUH LVQRSDVWZLWKRXWWKHIXWXUH7KXVWKHLQIOXHQFHWDNHVSODFHIURPDIXWXUHSRLQWWR DSRLQWLQWLPH+HUQHVE,QWKLVVHQVHWKHIXWXUHFUHDWHVWKHSDVW
$WWKHVDPHWLPHWKHIXWXUHLVQRWGHWHUPLQHGEXWFUHDWHGWKURXJKWHPSRUDO FRQQHFWLRQVFKRVHQE\DFWRUV,QWKHSUHVHQWWKHUHDUHPXOWLSOHSRVVLELOLWLHVDQG GLUHFWLRQVLPSOLHGE\WKHXQFHUWDLQIXWXUH*ULHVEDFKDQG*UDQG:KLOHWKHUH LVQRSDVWZLWKRXWWKHIXWXUH+HOLQHWDOWKHDELOLW\WRVHHGLIIHUHQWIXWXUH
SRVVLELOLWLHVLQFOXGLQJPRUHGLVWDQWIXWXUHVGHSHQGVRQRQH¶VJUDVSRIWKHSDVW 7KURXJKDFWLRQLQWKHSDVVLQJRIWLPHH[SHULHQFHVDFFXPXODWHDQGWKHWHPSRUDO VSDQEHFRPHVORQJHU+HUQHV7KDWLVWKHWHPSRUDOVSDQLQWRWKHIXWXUHLV URRWHG LQ WKH WHPSRUDO VSDQ LQ WKH SDVW ,W LV LPSRUWDQW WR UHFRJQL]H WKDW ³VSDQ LQGLFDWHVWKDWRXUWHPSRUDOPDUNHUVDUHQRWµSRLQWV¶EXWVWUHWFKHV´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
8QGHWHUPLQHG IXWXUH PHDQV WKDW RXU DFWLRQ LQ WKH SUHVHQW VLWXDWLRQ ERWK FUHDWHV DQG FRQVWUDLQWV RXU IXWXUH SRWHQWLDOLWLHV &KLD +HUQHV 3RWHQWLDOLW\UHIOHFWVWKHFHQWUDOWKRXJKWRI:KLWHKHDG¶VSURFHVVWKHRU\
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
'LIIHUHQWDOWHUQDWLYHHYHQWWUDMHFWRULHVPD\UHIOHFWDPHUHO\OLPLWHGFRSLQJ ZLWKWKHSUHVHQWRUDFUHDWLRQRIDQHZ+HOLQHWDO/LPLWHGµFRSLQJ¶UHIHUV WRWKHUHDOL]DWLRQRIWKHSRVVLEOHWKDWLVWRWKHUHDOL]DWLRQRIRQHSRVVLELOLW\IURP
WKHPXOWLSOHSRVVLELOLWLHVWKDWDUHDYDLODEOHZKLOHWKHFUHDWLRQRIDµQHZ¶UHIHUVWR WKHDFWXDOL]DWLRQRIDSRWHQWLDOLW\$FFRUGLQJWR+HOLQHWDOS³FUHDWLRQ QHHGVWREHXQGHUVWRRGDVWKHDFWXDOL]DWLRQRIWKHYLUWXDOUDWKHUWKDQDVUHDOL]DWLRQ RIWKHSRVVLEOH´7KXVWKHEHFRPLQJFRXOGEHPRUHRUOHVVLQWHQVHPRUHRUOHVV YLVLEOHDQGPRUHRUOHVVGUDPDWLF6WLOOEHLQJLQWKHEHFRPLQJHLWKHUWKURXJKWKH UHDOL]DWLRQRIWKHSRVVLEOHRUDFWXDOL]DWLRQRIWKHYLUWXDOFRXOGKDSSHQRQO\WKURXJK DFWLRQDQGDFWLRQFDQWDNHSODFHRQO\LQWKHSUHVHQW7KHDFWLRQWKDWLVWDNLQJSODFH LQWKHSUHVHQWZLWKWKHGLUHFWLRQWRWKHIXWXUHLVVSRQWDQHRXVO\UHVSRQVLYHWRWKH OLYLQJVXUURXQGLQJVDWWKHFXUUHQWPRPHQW6KRWWHU7KXVWKHSUHVHQWSOD\VD YLWDOUROHLQNHHSLQJXSWKHRQJRLQJWHPSRUDOLW\DQGVKDSLQJWKHXQIROGLQJHYHQW WUDMHFWRULHV
7KHILUVWHPSLULFDOSDSHUSUHVHQWHGLQ&KDSWHUIRFXVHVRQWKHVLWXDWHGDQG WHPSRUDOLQWHUSOD\EHWZHHQLPSURYLVDWLRQDQGURXWLQHV,QWKLVSDSHUFRDXWKRUHG ZLWKP\VXSHUYLVRU3URIHVVRU7RU+HUQHVZHDUHLQYHVWLJDWLQJKRZWKHFUHDWLRQRI DµQHZ¶WKDWLVDQDFWXDOL]DWLRQRIWKHSRWHQWLDOLVDFKLHYHGWKURXJKLPSURYLVDWLRQ
$OWKRXJKZHGRQRWUHIHUWRDFWXDOL]DWLRQLQRXUSDSHUWKLVLVRQHZD\WRUHDGWKH SDSHU 7KH YLUWXDO LGHD RI ;%RZ D UHYROXWLRQL]HG ERZ VKDSH ZDV DFWXDOL]HG WKURXJKWKHLPSURYLVDWLRQDOUHVSRQVHWRWKHVLWXDWLRQDOFLUFXPVWDQFHV$WWKHVDPH WLPH LW FRXOG EH DUJXHG WKDW WKLV DFWXDOL]DWLRQ RI SRWHQWLDO ZDV EDVHG RQ ERWK SUHYLRXVDQGFXUUHQWOLPLWHGFRSLQJ7KXVWKHUHDOL]DWLRQRIVRPHSRVVLELOLWLHVPD\
EHPRUHVXSSRUWLYHRIDFWXDOL]DWLRQHYHQWVWKDQRWKHUV,QRXUSDSHUZHVHHWKH UHDOL]DWLRQ RI SRVVLELOLWLHV RU OLPLWHG FRSLQJ URXWLQHV DQG DFWXDOL]DWLRQ RI SRWHQWLDORUFUHDWLRQRIQHZLPSURYLVDWLRQDVPXWXDOO\FRQVWLWXWLYHDQGXQIROGLQJ VLPXOWDQHRXVO\ LQ WKH IORZ RI WLPH 6XFK D YLHZ DOORZV IRU D GHHSHQHG XQGHUVWDQGLQJRIKRZDFWVRILPSURYLVDWLRQHQDEOHQRYHOW\WKURXJKWKHLULQWHUSOD\
ZLWK URXWLQHV ,Q WKH VWXG\ SUHVHQWHG LQ &KDSWHU ZH IRXQG WKDW DFWRUV ZHUH DQWLFLSDWLQJ WKH FKDQJLQJ URXWLQHV ZKLOH WKH\ ZHUH LPSURYLVLQJ QHZ VROXWLRQV ZKLFKHYHQWXDOO\HQDEOHGWKHLPSURYLVHGVROXWLRQVWREHDGDSWHGDVDQHZSUDFWLFH
7KHSUHFDULRXVQDWXUHRILPSURYLVDWLRQZHILQGPDNHVWKHLQWHUSOD\ZLWKURXWLQHV DOO WKH PRUH FUXFLDO $W WKH VDPH WLPH URXWLQHV UHTXLUH LPSURYLVDWLRQ IRU WKHLU GHYHORSPHQWDQGPDLQWHQDQFH7DNLQJDSHUVSHFWLYHRIWHPSRUDOLQWHUSOD\HQDEOHV VRPHLGHDVIRURUJDQL]DWLRQDOEHFRPLQJ
6WLOOWKHRQJRLQJQDWXUHRIWHPSRUDOLW\6FKXOW]DQG+HUQHVLVDOVR KLJKOLJKWHG LQ WKH VHFRQG DQG WKLUG HPSLULFDO SDSHU 9LHZLQJ WHPSRUDOLW\ DV D
³SHUFHSWLRQRIWKHFRQWLQXXPRIUHDOLW\´+XVVHQRWDQG0LVVRQLHUIRUWKFRPLQJS LQWKHWKLUGSDSHU,IRFXVRQWKHVHQVHGGLVFRQWLQXLW\DQGDQDO\]HLWVLQIOXHQFHRQ HPSOR\HHV¶FRPPLWPHQWWRRUJDQL]DWLRQDOFKDQJH,QWKHVHFRQGSDSHU,DQDO\]H WKHXQDQWLFLSDWHGFKDQJHLQWKHPHDQLQJDQGLQWHQWLRQRIURXWLQHVZKLFKFRXOGEH DVFULEHGWRFKDQJHGWHPSRUDOFRQWH[WRUFRQILJXUDWLRQRIHYHQWVGLVFXVVHGLQPRUH GHWDLOLQWKHQH[WVXEVHFWLRQLQRUJDQL]DWLRQDOPHDQLQJVWUXFWXUHV+HUQHV ZKLFKLVWXUQFKDQJHWKHFRPSRVLWLRQRIDYDLODEOHWHPSRUDOUHVRXUFHVLQWKHSUHVHQW
4.2 Timeineventsandeventsintime
,WLVLPSRUWDQWWRUHFRJQL]HWKDWDQRQJRLQJWHPSRUDOLW\GRHVQRWHTXDOD VXFFHVVLRQRISDVWVSUHVHQWVDQGIXWXUHVVXFKDVSRLQWVDORQJDOLQH+HUQHV ,QVWHDGDVZHKLJKOLJKWLQWKHILUVWSDSHUWKHSDVWDQGIXWXUHHYHQWVDUHLPPDQHQW LQWKHSUHVHQWZKLFKPHDQVWKDWWKHH[SHULHQFHGSDVWHYHQWVDVZHOODVDQWLFLSDWHG IXWXUHHYHQWVFRQVWLWXWHWKHSUHVHQWHYHQW*ULHVEDFKDQG*UDQG7KDWPHDQV WKDWWKHSDVWSUHVHQWDQGIXWXUHHYHQWVDUHLQWHUQDOO\UHODWHGWKDWHYHU\HYHQWLV OLQNHGWRLWVSUHFHGHQWVFRQWHPSRUDULHVDQGDQWHFHGHQWV+HUQHV+XVVHQRW DQG 0LVVRQLHUforthcoming 7KH LPPDQHQFH RI WKH SDVW DQG IXWXUH LQ SUHVHQW HYHQWVDQGWKHLPPDQHQFHRIWKHSUHVHQWHYHQWVLQWKHSDVWDQGIXWXUHJLYHVWRWLPH LWVDJHQF\+HUQHV$OWHUQDWLYHO\LWFRXOGEHDUJXHGWKDWDV³DQ\PHQWLRQRI DQHYHQWLQFOXGHVDUHIHUHQFHWRWLPHDQGYLFHYHUVD«´%DNNHQHWDOS
