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  • Blackwell Publishing Ltd  (14,197)
  • 2000-2004  (14,197)
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  • 1
    Electronic Resource
    Electronic Resource
    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper investigates the consequences of code-sharing agreements among airline firms competing on international routes, where some passengers interconnect to flights originating or terminating at cities not served by foreign airlines. The authors calculate the precise market share captured by flights operated under code sharing. They compare airfares, market shares, profits, and passengers’ welfare before and after the implementation of a code-sharing agreement and demonstrate that code sharing is Pareto-improving.
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  • 2
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper examines the impact of regionalism on the process of multilateral trade liberalization when countries are asymmetric. The author uses a three-country, three-good, competing exporters model, with countries being symmetric in everything but their discount factors. The equilibrium regional agreement is found to be a customs union between a patient and an impatient country and that the impact of regionalism depends on the discount factors. The impact of regionalism on multilateral trade liberalization depends critically on which countries engage in regionalism.
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  • 3
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper asks whether exports are affected by importers’ patent rights regimes using a gravity trade equation. US export data to 71 countries from 1970 to 1992 are used. A two-way random-effects panel indicates that patent rights regimes per se do not matter; they matter with importing countries’ imitative abilities. For a country with an “average” imitative ability, US R&D-intensive exports increase by 4–9% for a unit increase in the patent rights index; a unit increase in the patent rights index leads to a drop in US non-R&D-intensive exports by about 8–11%.
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  • 4
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper presents an overlapping-generations model where agents vote on whether to open or close the economy to international capital flows. Political decisions are shaped by the risk over capital and labor returns. In an open economy, the capitalists (old) completely hedge their savings income. In contrast, in a closed economy, the workers (young) partially insulate wages from the productivity shocks. There are three possible equilibrium outcomes: economies that eventually remain open; those that eventually remain closed; and those that cycle between open and closed. In line with the stylized facts, cycles are more common in economies with intermediate development levels.
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  • 5
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In a homogeneous-good duopoly game with a home and a foreign firm, which compete on prices, it has been shown that the optimal way to assist the domestic industry is by a production subsidy. The argument here is that the subsidy is used to keep potential competitive pressure on the foreign firm. This paper analyzes under which conditions this threat of entry of a subsidized home firm is credible. It is shown that in markets where the firms move before the government, a subsidy is not credible and dominated by a tariff in terms of welfare.
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  • 6
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The authors incorporate equilibrium unemployment due to imperfect matching into a model of trade in intermediate inputs. Firms are assumed to be price-takers and their size is given by technology. Firms enter the market as long as expected profits cover the search cost they incur initially; jobs are endogenously destroyed by random shocks that affect firms’ price–cost margins. Trade increases productivity in the final good and then demand for each intermediate input. Steady-state unemployment is reduced after trade integration because the rate of job destruction is reduced, which in turn induces an indirect positive effect on job creation. A more volatile environment faced by firms does not necessarily increase unemployment. However, the rate of job destruction unambiguously rises, and rises more under free trade.
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  • 7
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Creativity and innovation management 13 (2004), S. 0 
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 8
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Creativity and innovation management 13 (2004), S. 0 
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Technological listening posts as a means of technological knowledge sourcing were observed to be a widespread empirical phenomenon in centres of technological excellence and innovation clusters. Our research is based on 55 semi-structured interviews with 12 technology-intensive companies and 6 benchmarking-workshops on external knowledge sourcing with 11 companies. We reveal three archetypes of listening posts: trend scout, technology outpost and matchmaker. We describe their respective mission, organizational structure and critical success factors. Each type is illustrated with case studies.
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  • 9
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Creativity and innovation management 13 (2004), S. 0 
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The concept of innovation is valued in most organizations to create and sustain competitive advantage. Firms need to innovate in order to stay ahead in the market. Businesses are experiencing the internationalization of technology-driven competition, globalization of manufacturing, shorter product life-cycles, increasingly sophisticated customers needs and a greater integration of technologies (Shepherd & Ahmed, 2000). These challenges have compelled organizations to develop innovative strategies, products and processes. One area that is increasingly seeking ways of adding value through innovation is the logistics function. This paper examines and compares factors that are driving innovation in Australia and Singapore in distribution centres part of the logistics function that has been slow in the past to innovate.
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  • 10
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Creativity and innovation management 13 (2004), S. 0 
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: A new impetus for greater knowledge-sharing among team members needs to be emphasized due to the emergence of a significant new form of working known as ‘global virtual teams’. As information and communication technologies permeate every aspect of organizational life and impact the way teams communicate, work and structure relationships, global virtual teams require innovative communication and learning capabilities for different team members to effectively work together across cultural, organizational and geographical boundaries. Whereas information technology-facilitated communication processes rely on technologically advanced systems to succeed, the ability to create a knowledge-sharing culture within a global virtual team rests on the existence (and maintenance) of intra-team respect, mutual trust, reciprocity and positive individual and group relationships. Thus, some of the inherent questions we address in our paper are: (1) what are the cross-cultural challenges faced by global virtual teams?; (2) how do organizations develop a knowledge sharing culture to promote effective organizational learning among culturally-diverse team members? and; (3) what are some of the practices that can help maximize the performance of global virtual teams? We conclude by examining ways that global virtual teams can be more effectively managed in order to reach their potential in this new interconnected world and put forward suggestions for further research.
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  • 11
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Creativity and innovation management 13 (2004), S. 0 
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Conflict and conflict management are critical research issues in client-supplier collaborative new product development (NPD). A recent study found that conflict intensity and conflict-handling styles affect collaborative NPD performance. In this paper, we explore the relationships of four NPD project factors, namely product technical complexity, product certainty, task interdependence and the relative power of supplier, to conflict intensity and suppliers’ adoption of integrating and dominating conflict-handling styles. Research findings based on survey data collected from 193 suppliers provide a clear insight into the conflict intensity and suppliers’ adoption of conflict-handling styles for NPD projects of various characteristics, which enables better planning for conflict management and helps improve NPD performance.
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  • 12
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Creativity and innovation management 13 (2004), S. 0 
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Project organizations operate in environments where innovation depends significantly on the ability to integrate different but interrelated knowledge bases. These knowledge bases include individuals who are located outside organizational boundaries and have no formal relationship with the organization, but are connected socially to project workers. Organizational researchers have generally recognized the importance of external social relations for knowledge search. However there is some debate on the question of whether social networks are more useful for innovation if they provide social cohesion through close interaction or access to diverse and novel sources of knowledge through more distant relationships. This study explores the configuration of project workers’ external social networks and their effects on innovative behaviour, using data on the network ties of workers in 17 project organizations in the new-media industry. The findings are more consistent with the social embeddedness view of close social relations providing an important source of continuity in markets where intermittent projects are common. Project workers embedded in cohesive work-related social structures outside the organization tend to be more innovative in their project work than workers lacking such networks.
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  • 13
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Creativity and innovation management 13 (2004), S. 0 
    ISSN: 1467-8691
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Creativity is essential to successful new product development efforts. Teams constitute the organizing principle in most modern innovation activities. Although creativity research has revealed many factors influencing individual creativity, little is known about how team-level creativity is determined. Since the creative innovation task requires teams to combine and integrate input from multiple team members, the team's communication pattern is an important determinant of team creativity. Based on a sample of 44 NPD teams in eleven companies, this study examines the effects of team-member communication on team creativity. It is found that both interaction frequency and subgroup-formation of communication have a negative relationship to team creativity. Theoretical and practical implications are discussed, and further research is indicated.
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  • 14
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: During the past half century, multilateral trade liberalization has reduced tariffs to historically low levels. The “Received Theory” of multilateral trade agreements, based solely on terms-of-trade externalities between national governments, offers an explanation that has become the conventional wisdom. But it is dramatically inconsistent with actual trade agreements. This paper offers an alternative explanation, based on intergovernmental political externalities, consistent with what we actually observe. With remarkably little necessary formal structure—in particular, no formal bargaining model—this framework (chosen to parallel actual experience) gives an immediate and transparent role to the basic characteristics of contemporary trade agreements: gradual liberalization, reciprocity, nondiscrimination, and multilateralism.
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  • 15
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper analyzes environmental tax policy reform using a competitive model of world trade that includes production-generated environmental damage (pollution) and trade tariffs. The authors examine the feasibility of Pareto-improving multilateral reforms of environmental taxes, and show that any environmental tax reform that is mutually welfare-improving when compensating lump-sum transfers are assumed is also welfare-improving when a suitable tariff reform (but no transfers) is combined with the tax changes. Several specific reform proposals are developed. These results expand the feasible set of mutually improving policy proposals for international policy initiatives.
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  • 16
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: It is often thought that a tariff reduction, by opening-up the domestic market to foreign firms, should lessen the need for a policy aimed at discouraging domestic mergers. This implicitly assumes that the tariff in question is sufficiently high to prevent foreign firms from selling in the domestic market. However, not all tariffs are prohibitive, so that foreign firms may be present in the domestic market before it is abolished. Furthermore, even if the tariff is prohibitive, a merger of domestic firms may render it nonprohibitive, thus inviting foreign firms to penetrate the domestic market. Using a simple example, the authors show that, in the latter two cases, abolishing the tariff may in fact make the domestic merger more profitable. Hence trade liberalization will not necessarily reduce the profitability of domestic mergers.
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  • 17
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper presents new evidence of significant substitution between European domestic monetary assets and foreign holdings of sterling. The finding of significant cross-country currency substitution implies reduced costs of transition towards monetary union and easier European policy convergence. Elasticities of substitution, using the Morishima measure, are estimated from the semi-nonparametric Fourier flexible form.
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  • 18
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Agriculture remains sensitive to variation in rainfall and temperature. Fortunately, our ability to predict the lower frequency variation in the earth's atmosphere is increasing rapidly. While information cannot affect the underlying source of variability, it allows unexpected shocks to be anticipated and acted upon. This paper develops and analyzes an intertemporal Ricardian trade model with Bayesian beliefs. Results in this paper show that improved climate prediction reduces expected prices, but increases price variability. In addition, trade is crucial to realizing the potential benefits of climate prediction. The value of climate prediction is highest with both storage and trade, and falls by over 300% when a country is in autarky.
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  • 19
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper uses micro-level price data from the European car market to examine why there are deviations from the law of one price. The absolute law of one price is strongly rejected, but there is convergence to its relative version. Two sets of explanations are considered: (i) price-setting in segmented markets, and (ii) arbitrage barriers. Overall, the determinants of arbitrage costs have more explanatory power. The single most important factor is the distance between markets. Evidence for Belgium and Luxembourg suggests that a single currency lowers price differences significantly.
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  • 20
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper studies export pricing to market (PTM) in a “small-country” context using a panel of disaggregated exports from Hong Kong since 1992. Conventional wisdom is that PTM is commonplace—except for US exports. This study provides a benchmark by which to interpret the puzzling behavior of US export prices. Empirically, Hong Kong's export price behavior is comparable to that of the US. This similarity reinforces the idea that PTM behavior is also a function of home market conditions and the ability to price discriminate across markets. There is little evidence of differences in PTM across Hong Kong's export destinations.
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  • 21
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The transition of China towards a market economy was accompanied by a vast fiscal decentralization movement. Econometric analysis of the determinants of public expenditure of the Chinese provinces does not permit rejection of the hypotheses that (i) the behavior of provinces is similar to that of governments in developing economies significantly affected by external shocks, and (ii) in order to alleviate external risk, they take control of a more significant share of the revenues of the economy.
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  • 22
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    Oxford, UK and Boston, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper surveys the agenda needed to restore noninflationary growth in industrial countries. The role of fiscal policy as short-run stimulus both on the spending side and on the tax side is discussed. The author comments on trade, specifically the new trade round, and international finance. Long-run fiscal imbalances due to aging are analyzed. The role of fiscal institutions such as the European Growth and Stability Pact, the Japanese bad-loan problem, and structural problems are put into the perspective that advanced economies should nurture their reforms globally so as to provide successful examples of reforms and prove helpful trading partners.
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  • 23
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    Oxford, UK and Boston, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper looks at the main challenges to raise potential growth in the EU. It examines recent progress made regarding the structural reform efforts in EU product, labor, and financial markets, and it attempts to assess their impact on overall macroeconomic performance in terms of output and (un-)employment. The paper then proceeds to analyze the likely consequences of population aging for the growth rate of potential output and per capita incomes, emphasizing the fairly dramatic economic and budgetary implications of the decline in the EU's working-age population if governments do not take offsetting policy actions.
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  • 24
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    Oxford, UK and Boston, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper highlights the main drivers for merger policy reform in the European Union, including the consequences of the recent appeal court reverses. It discusses some of the substantive and procedural issues that the reform package should address, and outlines the reforms in progress. The author concludes that much of the reform package will be beneficial, but some important opportunities have been missed in this inevitably patchwork process.
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  • 25
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    Oxford, UK and Boston, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Books reviewed in this article:Leonard K. Cheng and Henryk Kierzkowski (eds.), Global Production and Trade in East AsiaJayashree Watal, Intellectual Property Rights in the WTO and Developing CountriesDalia Marin and Monika Schnitzer, Contracts in Trade and Transition: the Resurgence of Barter
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  • 26
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: If domestic firms lobby for protection, the tariff rate is a public good to all domestic firms, whether they engage in lobbying or not. This paper analyzes how the endogenous tariff rate as a public good depends on the group size in two-stage lobbying models. The result depends not only on whether domestic firms lobby cooperatively or not, but also on whether domestic firms incur indirect lobbying costs or not. This paper shows that if free riding is not very serious and if the number of domestic firms is small compared to the number of foreign firms, entry of a domestic firm is likely to increase the equilibrium tariff rate.
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  • 27
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The authors investigate the differences in margins of export and domestic markets for Spanish manufacturing firms in the period 1990 to 1997. They estimate jointly a multiproduct cost function, a variable factor share equation, and two price/marginal-cost margin equations. The results indicate that the marginal cost of production sold in export markets is slightly greater than in domestic markets. At the same time, the price/marginal-cost margins in export markets are smaller than in domestic markets. There is also strong evidence that margins are procyclical in domestic markets, but this evidence is less clear in foreign markets.
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  • 28
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    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The authors use a standard general-equilibrium trade model to show that export and import policies are not symmetric in the equilibrium of a strategic game with quotas. It is assumed that N (identical) large countries, without cooperation, set their import (or export) quotas to maximize domestic welfare. It is shown that the equilibrium in which all countries use import quotas differs from, and is superior to, the equilibrium in which countries use export quotas. The difference arises because the elasticity of the residual foreign export supply schedule differs between the two equilibria. The authors also study the properties of the sequential equilibrium of the game. In a simultaneous-move game, each country is indifferent as to whether it uses an import or export quota, given the policy of the other country. However, in a sequential-move game, the first mover will prefer to use an import quota rather than an export quota.
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  • 29
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    Review of international economics 12 (2004), S. 0 
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Book Reviewedby Michael J. Greenwood and John M. McDowell 
 Kalamazoo, Michigan: W. E. Upjohn Institute for Employment Research, 1999, pp. xii, 295.Book Reviewedby Jagdish Bhagwati 
 Cambridge, MA: MIT Press, 2000, 383 pp.
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  • 30
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    Singapore journal of tropical geography 25 (2004), S. 0 
    ISSN: 1467-9493
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
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  • 31
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    Singapore journal of tropical geography 25 (2004), S. 0 
    ISSN: 1467-9493
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: Widespread agreement exists on the broad outlines of the concept of sustainable development for developing countries. This calls for a development model capable of meeting basic needs without depleting natural resources at a rate that robs future generations of their use. In this regard, citizen participation is also considered key to legitimise such policy choices. However, there is considerable disagreement over the substance and meaning of the major components of the concept and the relationship between them. This paper argues that positions in policy disputes over the sustainable development of the forest cluster in two distinct approaches: market-friendly initiatives and grassroots development. Since market economies prevail almost everywhere, the question that is posed concerns the conditions under which the grassroots development approach is included as a significant complement to market-friendly initiatives. This is a political question, requiring an examination of actors, interests and power resources. The paper thus applies a political economy framework to a paired comparison of Mexico, where grassroots development approaches (community forestry) had notable successes, and Chile, where market-friendly forest policy crowded out alternatives.
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    Singapore journal of tropical geography 25 (2004), S. 0 
    ISSN: 1467-9493
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: With the spectacular financial collapse of Enron in 2001, Enron and Shell's Rio San Miguel-Cuiabá gas pipeline gained international notoriety for degrading the last, most intact dry tropical forest in the world, Bolivia's Chiquitano forest. The paper uses specific case studies, including the case of the Cuiabá pipeline, to examine how economic restructuring sponsored by the World Bank, International Monetary Fund (IMF) and Inter-American Development Bank (IDB) facilitated the entrance of multinational oil corporations that have caused significant social and environmental impacts in Bolivia. The paper explores the influence of international financial institutions and multinational oil corporations on Bolivian state institutions, particularly their ability to regulate and address impacts caused by developments in the hydrocarbons sector. It concludes that neoliberal policies, which resulted in partial privatisation of the state oil company and in expanded control over natural resources by multinational corporations (MNCs), were detrimental to sensitive ecosystems and indigenous inhabitants.
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    Singapore journal of tropical geography 25 (2004), S. 0 
    ISSN: 1467-9493
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Geography
    Notes: Decentralisation, the transfer of powers to a lower level of government, is thought to encourage more efficient and equitable management of natural resources. Participation of civil society organisations (CSOs) is considered critical to create positive outcomes of decentralisation. Here we examine aspects of civil society participation in decentralised management using the case of Brazil's water resources management. Several Brazilian states have enacted reforms mandating watershed committees in which the participation of civil society is either encouraged or required. However, actual participation of civil society is not yet well understood. To assess participation, we collected qualitative data on watershed districts in three Brazilian states (Bahia, Paraná and São Paulo). Our findings reaffirm the importance of the state in establishing a transparent legal framework to encourage participation and in defining “civil society”. The ability of civil society leaders to obtain and deploy local environmental knowledge, which frames environmental issues in new geographical scales, is useful to achieve the efficiency and efficacy objectives of decentralisation. However, by “upscaling” political activities beyond decentralisation's new territories, CSOs could make decentralisation irrelevant to local environmental issues.
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    Singapore journal of tropical geography 25 (2004), S. 0 
    ISSN: 1467-9493
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    Topics: Geography
    Notes: Since the 1990s, international water sector reforms have centred heavily on economic and market approaches. In regard to water resources management, tradable water rights have been promoted, often supported by the neoliberal model adopted in Chile. Chile's 1981 Water Code was reformed to comprise a system of water rights that could be freely traded with few restrictions. International financial institutions have embraced the Chilean model, claiming that it results in more efficient water use, and potentially fosters social and environmental benefits. However, in Chile the Water Code is deeply contested. It has been criticised for being too permissive and has produced a number of problems in practice. Moreover, attempts to modify it have become the focus of a lengthy polemic debate. This paper employs a political ecology perspective to explore the socio-environmental outcomes of water management in Chile, drawing on a case study of agriculture in the semi-arid Norte Chico. The case illustrates how large-scale farmers exert greater control over water, while peasant farmers have increasingly less access. I argue that these outcomes are facilitated by the mode of water management implemented within the framework of the Water Code. Through this preliminary examination of social equity and the environmental aspects of water resources management in Chile, I suggest that the omission of these issues from the international debates on water rights markets is a cause for concern.
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    Notes: Books reviewed in this article: Organising Labour in Globalising Asia. Jane Hutchison and Andrew Brown (eds.) Good Times and Bad Times in Rural Java. Jan Breman and Gunawan Wiradi Development Fieldwork: A Practical Guide. Regina Scheyvens and Donovan Storey (eds.) Rethinking Development Geographies. Marcus Power Postcolonial Urbanism. Southeast Asian Cities and Global Processes. R. Bishop, J. Phillips and W.W. Yeo (eds.) Environment, Knowledge and Gender: Local Development in India's Jharkhand. Sarah Jewitt
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    Notes: El Hatillo is a rural community in the Sébaco valley in Nicaragua, which suffers from an eroding resource base, high levels of poverty and malnutrition, and a high susceptibility to hazards. Structural adjustment policies have been devastating for small and subsistence farmers and have increased the level of economic, social and environmental marginalisation in rural Nicaragua. This paper explores initiatives to promote sustainable development in Nicaragua in the context of structural adjustment and environmental degradation. Drawing on qualitative research conducted in El Hatillo, it outlines the ways in which women in this community are attempting to address the multiple challenges of rural poverty and environmental risk and considers the potential of these strategies for gender equality.
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    Notes: Recent research has begun to explore the dynamics of transnational migration from a feminist perspective, and studies of migrant domestic workers have played a prominent role in pushing forward this work. Emerging simultaneously, but largely separately, are explicit debates within geography about the politics of scale, the social construction of scale, and the gender dimensions of scale. This article develops an analysis of the gender politics of the production of scale, specifically, the ‘transnationalisation’ of Indonesian activist approaches to overseas migrant domestic workers' issues. Based on fieldwork in an Indonesian community in West Java that has recently become a sending area for migrants to Saudi Arabia and interviews with activists representing Indonesian migrant women, the article examines the various gender-specific ways in which migrant women's rights activists construct and deploy the scales of the body, the nation and the transnational. It argues that activist approaches to migrant domestic workers' rights and the ways in which activists mobilise migrant women's narratives represent sophisticated feminist theoretical approaches to scale. By identifying and exploring the scale theory embedded in activist strategies, the analysis highlights the imbrication of feminist theory with practice, and underscores activists' agency in producing the meanings of specific scales. In so doing, the article is aimed more broadly at elaborating the ambivalent relationship between feminist activism/theory and transnationalism.
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    Notes: Batam Island, Indonesia, located a short ferry ride away from Singapore, is a place where tourism and industry have been developed simultaneously and a border area where “developed” and “developing” nations meet. Government officials, investing international corporations and the “factory women” who work in the island's industrial estates arrive in Batam - native to none of them - with their own preconceptions and goals. When challenges not foreseen through master planning arise, the authorities cling ever more tightly to their physical and structural development model: the nearby city-state of Singapore. Conversely, the factory workers who travel intranationally to work in this export processing zone (EPZ) find their objectives contested in the face of the Master Plan, corporate agendas and ethnic fusions characterising this transnational capitalist space.Entering into the homes of three groups of women migrants living and working in Batam, the relationship between the private realm that they inhabit and the social contexts in which they participate publicly is investigated. Some of the choices that women make at and about home are identified, and their ability to “micro-resist” these external structures is explored. At home, the dynamic relationship between the Batam development project and the women's own hopes and visions of the place - sometimes parallel and sometimes incongruous - are revealed. As they experience life on Batam, their “social imaginaries” of it are shaped into various new realities, and their homes, removed from the confines of the factory floor, thus become spaces of release from these tensions.
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    Notes: Although the migration of Filipinas to the Republic of Korea has only a short history, some Filipinas have already begun to form incipient communities around the largest United States military bases there. These communities are formed by an increasing number of women who run away from the military camptown clubs where they work as entertainers, to marry or live in cohabitation/de facto relationships with the enlisted American army personnel (or GIs) whom they meet and develop relationships with while working as entertainers in the GI clubs. Drawing on ethnographic research and interviews with the women in one such camptown, this paper documents their experiences and the dynamics of their marriages as they attempt to negotiate their transition from “trafficked entertainers” to “runaway brides”. Their experiences illustrate the daily tribulations of women who wish to improve their prospects, or more ambitiously, transform their identity whilst abroad, by entering into marriages or similar arrangements, but who continue to be encumbered with the stigma attached to being trafficked entertainers. The discussion in this paper aims to contribute to the literature on Filipina migrants' anxieties about identity in the context of transnational migration.
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    Notes: The migration of women engaged in transnational domestic work reveals how the uneven impacts of globalisation have intruded into the micro-world of families and households. In this age of globalisation and migration, family membership has become multisited or transnational, with members dispersed in space. The migration of workers and the separation this entails has raised challenges to notions and ideals of “being family”. Unlike other workers on the move, the migration of domestic workers has some distinctive characteristics. It can be framed in terms of women moving between families and households; workers whose departure from their family of origin and insertion into their family of employment reconstitute the structure and content of family relationships in both material and imagined ways. Drawing on in-depth interviews conducted in the Philippines and Singapore, we explore how migrant women and their family members define and negotiate family ideals, gender identities and family relationships, given the family's transnational configuration. Our findings provide some support to the notion that individual members in transnational families resort to “relativising” in fashioning responses to their situation.
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    Notes: Books reviewed in this article: Transcending Boundaries: Labour Migration of Women from Bangladesh. Tasneem Siddiqui The Geopolitics of South Asia: From Early Empires to the Nuclear Age. Graham P. Chapman AIDS in the Twenty-First Century: Disease and Globalisation. Tony Barnett & Alan Whiteside Empire's New Clothes: Unveiling EU Enlargement. József Böröcz & Melinda Kovács (eds.) Diaspora and Identity: The Sociology of Culture in Southeast Asia. John Clammer, Subang Jaya Rethinking Environmental Management in the Pacific Rim: Exploring Local Participation in Bangkok, Thailand. Amrita Daniere & Lois M. Takahashi
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    Notes: This paper is concerned with how existing migration policies affect individual migrant women's choices, in particular, with the advancement, or consolidation, of a migrants' rights perspective. The focus is thereby on those migrants classified as unskilled, who constitute the largest and most vulnerable category among migrants. The analysis of migration policies has conventionally been approached from a state/government-centred viewpoint that sees states as the key actors. This paper, however, emphasises a larger number of actors - governmental and non-governmental - as well as the power relations among them to argue that protection through “legal regulation” in the absence of actual implementation is an incomplete solution to alleviate unfair labour conditions that migrants in general, and migrant women specifically, experience. Measures designed to “protect” migrants must be accompanied by measures that empower them, a role that has largely been taken on by existing migrant worker non-governmental organisations (NGOs). Focussing on intra-Asian migration flows in which Southeast Asia is the main labour sender and East Asia the receiver of Southeast Asian migrants, the paper explores the nexus between law and civic activism in the specific subject area of international labour migration and its gender implications.
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    Notes: The Siiphandone wetland in Khong district, Champasak province, Lao PDR, is one of the most important fisheries in the Mekong River basin. The resource, situated along the Laos-Cambodia border, supports the livelihoods of around 65,000 inhabitants, mainly semi-subsistence rice farmers or fishers. In January 2000, the provincial authority was given a special dispensation by the Lao government to allow the importation of Cambodian fish through Khong district, for export to Thailand. Previously, in large part due to the government's policy of food self-sufficiency, the export of Lao fish was illegal. This paper examines how the implementation of this law has influenced existing legal and illegal trade networks from the Siiphandone fishery by comparing the findings of two studies, one conducted before and the other after the change in the law. In doing so, the transition of the fishery from a local, food-important resource to an increasingly regional, market-oriented resource is examined. Conclusions are drawn as to the impact this change has had on the livelihoods of fishers and traders involved in the fishery.
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    Notes: This paper provides a reflexive account of conducting fieldwork as a graduate student in the Sunderban area of West Bengal state, India, in the mid-1990s. Reflecting on my personal experiences of research in a setting that was simultaneously familiar and foreign, I use frames of positionality to understand the impact of explicit and implied power structures on the research process, the relationships between the researcher and those researched, and the transfer of knowledge. This paper argues that the multiple subject positions and identities of both scholar and subjects as presented in the field vary with setting, and that these positionalities affect access to informants, the tenor and outcomes of encounters, and knowledge production. While self-reflexivity is endorsed as a strategy for critically informed research, active measures such as openness about the agenda and activities undertaken, self-disclosure, making conscious accommodations for the research subject's work schedule and time constraints, mutual sharing of information, and explicit recognition of the research subjects' expertise through lived experiences are proposed as strategies for equalising the power balance between scholar and subject.
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    Notes: Policy frameworks at national and international levels have significant influence on the growth performance and industrialisation of developing economies. This paper aims to explore the influence of such regulatory policy frameworks on the development of the Indonesian clothing industry since the mid-1980s based on an analysis of national clothing trade statistics provided by the Indonesian Central Bureau of Statistics. Although the Indonesian policy framework had a general export-orientation, protectionist measures for the domestic market proved to be important in facilitating the growth of the Indonesian clothing industry. This paper also shows how the existing international clothing trade regulatory framework of the Multi-Fibre Arrangement (MFA) influenced the integration of Indonesian clothing firms into global production and trade networks. Finally, the future policy changes and potential impacts for Indonesian clothing firms are discussed.
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    Notes: Anthropogenic grasslands mixed with fern and shrubland, on scales from metres to kilometres, are widespread in tropical Southeast Asia, and especially in southern China and adjoining regions where harvesting for domestic fuel is a major factor in their maintenance. Baseline surveys in grassland and fernland in 1989–90 and resurveys in 2001 of three 6 × 20 m plots in Wong Chuk Yuen, Hong Kong, showed substantial change in species composition and total aboveground phytomass as a result of annual harvesting, with more pronounced change in the fernland.Under harvesting pressure, the species composition of the grassland changed considerably, though the proportions of the various life-forms did not. Ischaemum spp. and Miscanthus floridulus increased whereas Themeda gigantea died out while the proportion of other grass species remained much the same. Under the same regime the species composition and life-forms of the fernland changed markedly. The proportion of Dicranopteris fern dropped substantially, though still comprising a third of the phytomass by 2001. The shrub Melastoma survived harvesting. A firebreak cut in the fernland became grassy under annual harvesting and remained grassy six years after cutting ceased. The annual harvests from the growth-years 1991–2000 showed a substantial though variable increase in total phytomass. Analyses relating harvested phytomass with various climatic parameters showed no significant correlations. Some possible reasons for this are suggested. Although annual harvesting was clearly sustainable over the ten years of observation, the question of continued sustainability on sites harvested for centuries, the situation in much of southern China and parts of upland mainland Southeast Asia, remains unresolved.
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    Review of international economics 12 (2004), S. 0 
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    Topics: Economics
    Notes: The authors study a simple model of tariff wars and trade deals in which government revenue collection and disbursement uses resources. The introduction of costly governments leads to lower non-cooperative tariffs, the possibility that a less costly government may win a tariff war, and fully cooperative trade deals where countries lower tariffs but do not eliminate them, even with lump-sum taxes and transfers.
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    Notes: The paper sets a broad agenda touching several areas of policy. It starts from the least likely policy at this point of time, the use of the tax system for redistribution. It discusses prudent macroeconomic coordination without the strings of the Maastricht Treaty in business troughs. Regulation of financial markets, agricultural policies, and health issues are coming up on a desirable agenda of the United States, but are probably important for all countries, as are social security policy and climate change.
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    Notes: The paper offers some reflections on the convergence of productivity in the United States and Europe, which essentially stopped in the 1990s. It argues that the barriers preventing further convergence in the early 1990s were removed subsequently. But since then trends in productivity growth have been importantly affected by the advent of the New Economy, which poses further challenges for Europe. Without additional reform of European labor markets, financial markets, and university systems, we may be on the eve of another era of persistent divergence.
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    Notes: Japan's steep postwar growth was nested in a political economy built around producer-oriented policies: by fostering the growth of large firms using the tools of industrial policy, the government could jumpstart development. Many large firms, and their employees, benefited indirectly from this growth program, and very small firms and industries not included in the growth model were compensated through preferential policies or subsidies. Japan's social contract evolved around this system, having as its centerpiece lifetime employment. The government spent more resources on supporting exporting industries and compensating domestic ones than on building a forward-looking welfare system. Japan's decade-long economic downturn marks a structural transition towards a postindustrial society. While excelling in producing tangibles, Japan has fallen behind in fostering modern industries, including services; the country also lacks a welfare system to handle increasing structural unemployment that this transition brings about. Without a commitment towards a welfare system and a welfare society, and a reorientation of the social contract towards citizens, Japan is unlikely to transition successfully.
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    Notes: The paper introduces the conjectural variations and bargaining approaches into a vertical model wherein a foreign upstream firm supplies one input to two downstream firms that produce differentiated products for the export market. Various downstream firms’ competition modes and upstream's pricing schemes emerge as special cases of this formulation. The authors show that the optimal export policy of a downstream country depends crucially on the downstream firms’ conjectures of rivals’ responses, the upstream firm's pricing schemes, their relative bargaining powers, and the degree of product differentiation. If the upstream's pricing or bargaining power is strong (weak) and if the downstream's degree of competition is high (low), a tax (subsidy) is optimal owing to a strong (weak) vertical profit-shifting effect and a weak (strong) horizontal effect.
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    Notes: The authors show that an increase in international borrowing increases specialization and unemployment in a small open economy that is subject to terms-of-trade risks. The economy has a production advantage in the export sector. However, the size of the export sector is limited by the available funds. To insure workers against income fluctuations arising from terms-of-trade risks, firms in the export sector offer workers a stable wage rate with the possibility of unemployment. An increase in international borrowing increases specialization in the export sector, which leads to higher unemployment when the terms-of-trade shock is bad. A state-contingent price subsidy can reduce unemployment without inefficiently reducing specialization. The results are robust to the introduction of risk-averse firms.
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    Notes: Traditional trade models ignoring the dimension of product quality generally lead to excessively low trade price elasticities. This paper estimates import market share equations including a quality image proxy derived from survey data. The estimation results, based on panel data for the four main EU member states, confirm the part played by product quality perceptions in the estimation of trade price elasticities, at least for highly differentiated products. Introducing the quality image proxy into the models leads to a significant increase in the price elasticities, which thus become superior to unity, in conformity with theoretical elasticities of substitution.
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    Notes: The paper studies the welfare implications of temporary foreign aid in the context of a simple two-country model of trade. In addition to its usual effects, a transfer of income in one period is assumed to influence the preferences of the recipient country in the following period. The implied changes in the terms of trade over the two periods are consistent with a number of possible outcomes with respect to the intertemporal welfare of the donor, the recipient, and the world as a whole. Particular attention is devoted to the conditions for strict Pareto improvement and the circumstances under which temporary aid transactions are likely to occur.
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    Journal of business finance & accounting 31 (2004), S. 0 
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    Topics: Economics
    Notes: Abstract:  In recent years, many firms have favoured residual income for value based management. One main argument for this measure is its identity with the net present value rule and that this compatibility with the net present value rule holds true for all possible depreciation schedules selected. In this article, we analyse whether there are other, undiscussed, accrual accounting numbers that enable net present value-consistent investment decisions for all possible depreciation schedules. Our analysis provides an if-and-only-if characterisation of the entire class of net present value-consistent investment criteria, based on accounting information. This provides new insights into the residual income concept, hurdle rates, opening and closing error conditions achieved by applying more common performance measure structures, and allocation rules. Moreover, our analysis shows the limits of constructing such investment criteria.
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    Notes: This study, using a direct measure of the wage growth rate within firms, examines the value premium in relation to human capital. The results suggest that the dispersion in wage growth in value and growth stocks explains a large portion of the differences in stock returns. It appears that value stocks are less exposed to shocks in rents to human capital. Differences in labor force characteristics among value and growth stocks also proved to be an important factor in determining both the impact of future changes in labor income growth rate and firm value. The present findings are understood to mean that the ability of investors to forecast the dispersion in wage growth in firms is limited.
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    Notes: This study investigates the impact of trustee stock status announcements on shareholders’ wealth in Singapore. An event study methodology is used to ascertain the abnormal returns around the announcement day. The results show that there is a positive and permanent wealth effect on trustee stocks resulting from designation announcements. Conversely, when trustee stocks lose their status, the significant negative abnormal returns suggest that shareholders’ wealth is adversely affected. This reaction, however, appears to be a temporary phenomenon and is not simply a mirror image of designation announcements. The differences in the underlying regulatory structures partially explain the findings.
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    Notes: Abstract:  This paper examines the role the options market plays in the dissemination of private information. We find abnormal volume in the options market for three days prior to management forecasts, controlling for concurrent equity volume. Classifying trades as long or short, we find more informed options volume relative to equity volume (1) with relatively greater options market liquidity; (2) when equity is listed on the NYSE or AMEX; (3) for larger surprises; (4) with fewer analysts; (5) for shorter times between the forecast and period end; (6) for good news forecasts; and (7) for smaller percentage institutional holdings.
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    Notes: Abstract:  This paper uses a conditional multifactor model and shows that the basis of foreign currency instruments includes a time-varying risk premium that is related to the conditional risk of the basis and to the conditional prices of systematic risk present in all assets markets. The result therefore reinforces the view, initially put forward by Bailey and Chan (1993), that the basis is priced rationally in an efficient market. The article also shows that the premium for basis risk increases with the maturity of the instruments used for hedging.
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    Notes: Abstract:  This study examines the response of T-bill and T-bond futures prices to weekly M1 announcements over the period March 1976 to November 1998 conditioned upon monetary operating procedures and the stance in monetary policy. In concurrence with previous studies, this study finds that unanticipated increases in M1 are negatively related to changes in T-bill and T-bond futures prices. However, when the data is sorted by monetary regime, the stance in monetary policy, and direction of money surprise, we find evidence to support the several competing theories historically suggested by Cornell (1983b) to explain the impact of money supply announcements.
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    Topics: Economics
    Notes: Abstract:  This paper shows that the presence of persistent uninsurable risk concentrated in economic depressions has the potential to resolve two well-known asset pricing puzzles. It is also shown that the presence of such risk in more normal economic expansions and recessions is likely to be much less relevant in determining equilibrium asset prices.
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    Topics: Economics
    Notes: Abstract:  This paper examines the characteristics of firms that account for deferred tax liabilities related to government investment grants under an extended adoption timing period. Not only the recognition but also the timing decision is associated with changes in future performance and changes in the debt structure. Recognisers outperform non-recognisers in the future, while early recognition is related to post recognition performance but only for those firms that currently perform well. Changes in the balance sheet structure are also related to both decisions. Firms with recent increases in the debt level tend to postpone recognition, while currently well-performing firms that increase their future debt level are less likely to recognise deferred taxes.
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    Topics: Economics
    Notes: Abstract:  In this paper we study the quote revision behavior of NASDAQ market makers by analyzing inter-temporal changes in their spread and depth quotes. Using individual dealer quote and trade data for a sample of 2,319 stocks, we find that NASDAQ dealers make more frequent revisions in depths than in spreads and the extent of liquidity management is greater for stocks of smaller companies, lower-priced stocks, and stocks with larger trade sizes and fewer number of transactions. We show that intraday variation in the number of quote revisions follows the U-shaped pattern, indicating that the extent of liquidity management is greater during the early and late hours of trading than during midday.
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    Topics: Economics
    Notes: Abstract:  This study investigates the alleged disintermediation of banks’ traditional deposit-taking in favour of investment management activities. Using data on Australian bank-affiliated funds and a nine-year record of the parent banks’ liability balances, this study finds that managed funds do not displace bank liabilities. Prudential capital adequacy requirements dissuade banks from using in-house managed investments as indirect conduits for raising funds in the same manner as deposit-taking.
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    Topics: Economics
    Notes: We report improvements in long run operating performance for a sample of Malaysian companies that made acquisitions over the period 1988–1992. As the sample selected consists of acquisitions of private target companies, the analysis allows us to focus on the possibility of changes arising from non-disciplinary sources. The reported improvements do not appear to have been achieved by sacrificing the long-term viability of the combined firms in pursuit of shortterm objectives. However, as the target companies in the current study were previously privately-owned businesses, researchers and policy makers should be wary before generalising from these results.
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    Topics: Economics
    Notes: This study ranks the research productivity in finance across European universities and researchers using a set of 15 finance journals during the decade of the 1990s. A total of 219 universities are ranked. During the sample period from 1990 to 1999, UK universities dominate the top-20 ranking. However, the UK ’s dominance is significantly reduced when the Journal of Business Finance & Accounting, a UKbased journal, is excluded from the analysis. Other non-UK European universities gain further ground when only the top-4 journals are used to measure ranking. Our analysis also shows that a majority of the top 20 European universities have made significant progress in research productivity over the period 1990–99. Additionally, we compare the top European universities to those in North America. The top European university, London Business School, compares to the 24th and 25th ranked North American universities for the period from 1990 to 1999; it compares to the 15th and 16th ranked North American universities for the more recent sub-period from 1995 to 1999. The top researcher is Henri Servaes from London Business School.
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    Topics: Economics
    Notes: Abstract:  This article examines the ability of current accounting data to explain future cash flows for UK firms, as disclosed under FRS1(1991). Rather than examining price data — from which cash flow implications have to be inferred — we follow the more direct approach used in several recent US studies, in which actual future cash flow data are examined. Specifically, our methodology is a development of the OLS regression framework employed by Barth et al. (2001). We provide a replication of their main OLS analysis, and then extend this to deal with fixed effects and time trends in the levels of cash flow data. Our study finds that the disaggregation of earnings into cash flows and accruals, generates superior explanatory power with regard to future cash flows.
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    Topics: Economics
    Notes: Abstract:  This study examines the effects of public predisclosure information on market reactions to earnings announcements. We develop an empirical measure of public predisclosure information impounded in price prior to earnings announcements by cumulating abnormal returns on public news release dates during the quarter. Consistent with prior literature, we document a negative association between this measure and market reactions to subsequent earnings announcements. Moreover, we find that after controlling for this measure, firm size and analyst following are significantly positively associated with market reactions to earnings announcements. Contrary to prior empirical evidence, our results suggest that, after controlling for actual predisclosure information impounded in price, market reactions to earnings announcements are greater in magnitude for larger, more widely-followed firms than for smaller, less widely-followed firms.
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    Notes: Abstract:  We analyze the role of firm characteristics in determining the extent of adverse selection, and therefore liquidity, in securities markets. After controlling for the effects of the well-established determinants of adverse selection, we find evidence that a firm's ratio of plant, property, and equipment to total book assets and its status as a public utility have additional explanatory power. To the extent that these variables are reasonable proxies for the firm's transparency of assets and regulatory environment, we assert these factors contribute to the adverse selection cost of transacting for our sample of NYSE listed S&P 500 firms.
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    Topics: Economics
    Notes: Abstract:  The microstructure literature models the mechanisms through which fundamental information is incorporated into market prices. This paper extends previous models by endogenising information production and analysing incentives for costly information production. In contrast to the existing literature, increasing the number of informed traders can result in reduced price informativeness. When prices have an allocative role this has welfare consequences: the regulatory implications of a dichotomy between private and public incentives for information gathering are discussed.
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    Topics: Economics
    Notes: Abstract:  This article compares the investment and financing decisions of a firm that adopts a ‘first-best’ strategy with those of a firm that adopts a ‘second-best’ strategy. The former issues bonds upon deciding an initial capacity, while the latter issues bonds, and only then decides an initial capacity. The former is thus able to avoid the agency cost associated with the ‘debt overhang’ problem. Accordingly, the former will both issue more bonds and install a larger initial capacity than the latter. However, the agency cost of debt, i.e., firm value difference between these two strategies, is modest for plausible parameter values.
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    Topics: Economics
    Notes: This study investigates whether opportunistic earnings management affects the value relevance of net income and book value in determining stock price. We document a decrease in the value relevance of earnings in the year of an equity offering for a group of firms with ex post evidence of earnings management. This decrease is greater for the discretionary component of earnings than for the non-discretionary component. These results are robust to model specification and the type of offering. However, the results are sensitive to firms’ disclosure activity prior to the offering.
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    Topics: Economics
    Notes: Recent empirical evidence suggests that stock market index returns are predictable from a variety of financial and macroeconomic variables. We extend this research by examining value and growth portfolios constructed by book-to-market ratio, and consider whether such predictability is evident here. Further, we assess whether such predictability is better characterised by a non-linear form and whether such non-linear predictability can be exploited to provide superior forecasts to those obtained from a linear model. General non-linearities are examined using non-parametric techniques, which suggest possible threshold behaviour. This leads to estimation of a smooth-transition threshold model, with the results indicating an improved in-sample performance and marginally superior out-of-sample forecast results.
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    Topics: Economics
    Notes: This study examines empirically whether financial analysts (users), as well as managers (preparers) and external auditors ascribe different interpretations to the SFAS 5 disclosure criteria. We find: (1) financial analysts are, on average, more conservative than managers and auditors in their numerical interpretations of both the ‘remote’ and ‘probable’ verbal phrases; (2) managers and auditors share very similar numerical interpretations of these verbal phrases; (3) audit partners’ numerical interpretations of the ‘remote’ region are between those of managers and users, whereas audit managers align their numerical interpretations with those of managers. One danger is that preparers of financial statements may omit loss contingency information that users consider valuable.
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    Topics: Economics
    Notes: Using a sample of Australian Multi-sector trusts we examine selectivity and market timing performance and extend the analysis to include the relatively new measure of volatility timing. This is of particular relevance to our data set, as high levels of volatility persistence are prevalent in Australia. In addition we consider the stability, asymmetry and seasonality of the various performance and risk measures. A survivorship adjustment procedure is also employed in order to assess the impact of survivorship on selectivity, market timing and volatility timing performance.
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    Industrial relations journal 35 (2004), S. 0 
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    Topics: Economics
    Notes: This paper explores the apparent paradox that while unions exist to promote the interests and well-being of their members, UK survey evidence consistently shows that union members report lower levels of job satisfaction than non-union workers. A review and further analysis of the evidence confirms that this difference persists after controlling for other factors such as type of work. If union member dissatisfaction reflects a form of voice, then we might expect to see resulting gains. An analysis of data from the 1998 Workplace Employee Relations Survey indicates that any gains are modest. Evidence is presented to suggest that although management has become less hostile to trade unions, a degree of anti-union sentiment remains, sometimes leading to a muffling of the union voice, and this helps to account for some of the union member dissatisfaction.
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    Notes: This article examines the workings of co-determination in the German finance industry through two case studies examining the introduction of working time accounts. It is shown that the accounts posed important new challenges for employees and works councillors that represented variants of long-existing negotiations around working time issues. The problems were clear and similar in both cases, giving rise to complaints to councillors, though not to managers. Councillors’ responses differed in the two companies. In one, they successfully re-negotiated the agreement under which the accounts had been introduced. In the other, they did not succeed in doing so. The differences between the two representative bodies are analysed to reflect on a theory of employee representative influence.
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    International journal of selection and assessment 12 (2004), S. 0 
    ISSN: 1468-2389
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    Topics: Economics
    Notes: This article offers an agenda for future research on applicant reactions to selection procedures. Advocating a construct-oriented approach, we propose that future research focuses attention on fundamental issues subsumed under seven distinct although related areas namely: (1) dimensions of applicant reactions, (2) changes in applicant reactions over time, (3) determinants of applicant reactions, (4) applicant reactions and test constructs, (5) criterion outcomes of applicant reactions, (6) reactions to new technology in testing, and (7) methodological and data analysis issues.
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    Topics: Economics
    Notes: The application/selection process can be thought of as a set of Bayesian opinion revision tasks, in which applicants obtain new information about the organization at each stage of the process and must integrate this information with their prior perceptions of the organization and the jobs. The Bayesian perspective provides useful insights for understanding serial decisions of this type. It suggests that real-world decision-makers are too sensitive to the valence and insufficiently sensitive to the diagnosticity of the information they obtain from interviewers, assessors, etc., and that the effects of information obtained early in the process depends on both the applicant's state of perceived uncertainty and on the relationship between the applicant's preconceptions and this early information.
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    Topics: Economics
    Notes: A type of selection measure is presented which combines the psychometric characteristics of an intelligence test with the surface and content validity characteristics of a work sample for clerical occupations. Consequently, this measure – AZUBI-BK – is more positively evaluated by participants than a conventional measure of general mental ability (N=1375). Preferences for the work sample-intelligence test hybrid applied for potential applicants from different school types, for job-experienced as well as for inexperienced subjects and for members of the ethnic majority as well as for ethnic minorities. AZUBI-BK showed high correlations with total scores (uncorrected r=.77 and .73) and corresponding factors of two intelligence tests, respectively. Criterion-related validity was equal to the reference measure in predicting theoretical examinations (uncorrected r=.61) and higher in predicting supervisory ratings (uncorrected r=.43). In the latter case, the new instrument shows incremental validity over an intelligence test but not vice versa; in a regression equation, AZUBI-BK can fully account for the variance in supervisory assessment. Adverse impact of AZUBI-BK for ethnic minorities is small which, however, was also true for a conventional intelligence test.
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    Topics: Economics
    Notes: Research in industrial/organizational (I/O) psychology has generally focused on objective measures of employment discrimination and has virtually neglected individuals' subjective perceptions as to whether a selection or promotion process is discriminatory or not. This paper presents two theoretical models as organizing frameworks to explain candidates' likelihood of perceiving that discrimination has occurred in a certain selection or promotion situation. The prototype model stresses the importance of the prototypical victim-perpetrator combination, the perceived intention of the decision-maker, and the perceived harm caused as possible antecedents of perceived employment discrimination. In the organizational justice model, procedural, informational, interpersonal, and distributive fairness play a central role in determining candidates' perceptions of discrimination. The fairness heuristic helps to explain which type of fairness information dominates these perceptions. Applications and research propositions are discussed as well as the similarities and differences between the two models. We conclude by offering several factors that may determine which model is used in deciding whether or not discrimination has occurred.
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    Topics: Economics
    Notes: In psychology, general beliefs are considered to be the stepping-stones of future behavior and attitudes (Rokeach, 1973; Olson, Roese, & Zanna, 1996). The goal of this paper is to explore applicants' general beliefs about the selection treatment, namely the way they want and expect to be treated during selection. After the concept of selection treatment beliefs is introduced and both its theoretical and practical relevance is highlighted, the development of the Social Process Questionnaire on Selection (SPQS) is reported, which measures selection treatment beliefs. Factor analyses (660 students and 643 applicants) revealed six treatment factors. Applicants valued and expected transparency, objectivity, feedback, job information, participation, and a humane treatment. Apparently, applicants valued the six factors more than they expected them to be realized. The scientific and practical relevance of the findings are discussed.
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    Notes: Social identity theory is proposed as a theoretical framework for better understanding applicants' reactions to selection processes. In particular, it is argued that this theory enables an understanding of how applicants' social identities interact with their perceptions of selection episodes to predict their exit from the process. First, an account of applicant reactions derived from social identity theory is presented which emphasizes the importance of applicants' social identities. It is argued that those of the applicants' identities which are salient during specific elements of the selection process are matched with their current perceptions of the organizational identity, such that degree of congruence is assessed. Intentions to exit or to refuse a job offer result if a specific level of incongruence is reached. This relationship between congruence and intentions is moderated by perceptions of the labour market and of the self. Key features of this account are then summarized, namely, the importance ascribed to candidates' experience prior to the selection process; the centrality of social identities to the theoretical account; the subjective interactionist assumptions underpinning the account; the importance of changes in the salience of identities; the potential existence of multiple organizational identities; the psychological changes which trigger a matching process; and the proposed moderators of the congruence-exit relationship. Findings from the research literature which indirectly support two of these features of the theoretical account are described. Finally, directions for future research are suggested.
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    Topics: Economics
    Notes: This research contributes to the understanding of reactions to different selection screening methods. A sample of students (n=153) experienced one of three types of screening techniques, face-to-face interview screenings, telephone interview screenings, and interactive voice response (IVR) screenings, with identical content in a pre- to post-screening longitudinal study. We further examined the role of two important individual differences, cognitive ability and conscientiousness, in attitudes toward the screenings. IVR is a “non-interpersonal” screening method so it was not surprising that it was rated lower in terms of procedural justice factors such as interpersonal treatment, two–way communication, and openness but what is encouraging is that there were no differences between other labor intensive and costly technologies and IVR on the other procedural justice factors. Therefore, there do not appear to be any major negatives in terms of structural fairness among alternative screening devices implying that organizations can make choices between screening methods based on other factors such as recruitment strategy or cost.
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    Topics: Economics
    Notes: This study investigates the role of feedback in minimizing the psychological impact of a negative selection decision on job applicants. The method and findings of a laboratory experiment into subjects' reactions to rejection, combined with feedback on this decision as well as perceptions of procedural and distributive fairness, are discussed. Subjects participating in the experiment (N=119) were asked to complete two GMA tests and were told they had to belong to the 20% best performers to be invited for a selection interview. Upon completion, all subjects received a rejection message, supposedly based on their performance scores on the two tests. Subjects were randomly assigned to one of two feedback conditions: either a mere rejection message, or a rejection message including performance feedback. Analyses revealed that core self-evaluations and affective well-being of rejected subjects receiving performance feedback significantly decreased compared to that of subjects in the mere rejection message condition. Furthermore, it was found that procedural fairness perceptions interacted with feedback on subjects' core self-evaluations, while distributive fairness perceptions interacted with feedback on affective well-being. These findings raise the question whether performance feedback following a negative selection decision is as advantageous as generally assumed. Implications for giving feedback in rejection situations are discussed in the conclusion.
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    Topics: Economics
    Notes: The aim of this paper is to review the role that representative worker participation can play in contributing to better health and safety performance in small enterprises. The relevance of representative participation to health and safety in small enterprises is addressed and the challenges that the sector poses are discussed. Using a number of examples, including legislative approaches, trade union initiatives and joint trade union employer schemes in various countries, the paper explores some of the ways in which such challenges have been tackled.
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    Notes: This article assesses the impact of the profound changes that have taken place in the higher education sector on academic staff in the UK. The perceptions of staff about their work and employment are examined through evidence provided by a recent large-scale survey. The discussion draws on a labour process perspective. The article finds that the views of staff are far from homogeneous and not universally pessimistic. However, in general the morale and satisfaction of many teaching staff have been eroded by work intensification and that of research staff by the considerable insecurity created by casualised employment. Nonetheless resistance and resilience continues despite the commodifying pressures, and ‘traditional’ values remain strong.
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    Notes: Book reviewed Dock Workers: International Explorations in Comparative Labour History 
 Sam Davis, Colin J. Davis, David de Vries, Lex Heerma van Voss, Lidewij Hesselink and Klaus Weinhauer (eds) 
 Ashgate, 2000, 863 pp., £75 (hardback, 2 volumes) Labored Relations: Law, Politics and the NLRB—A Memoir 
 William B. Gould IV 
 MIT Press, 2000, 474 pp., £27.50 Trade Unions and Global Governance. The Debate on a Social Clause 
 Gerda van Roozendal 
 Continuum, 2002, 260 pp., £75.00 (hardback), £25.00 (paperback) Organized Labour in the 21st Century 
 A.V. Jose (ed.) 
 International Institute for Labour Studies, 2002, xii + 406 pp., 120
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    Notes: Expectations, which are beliefs about a future state of affairs, constitute a basic psychological mechanism that underlies virtually all human behavior. Although expectations serve as a central component in many theories of organizational behavior, they have received limited attention in the organizational justice literature. The goal of this paper is to introduce the concept of justice expectations and explore its implications for understanding applicant perceptions. To conceptualize justice expectations, we draw on research on expectations conducted in multiple disciplines. We discuss the three sources of expectations – direct experience, indirect influences, and other beliefs – and use this typology to identify the likely antecedents of justice expectations in selection contexts. We also discuss the impact of expectations on attitudes, cognitions, and behaviors, focusing specifically on outcomes tied to selection environments. Finally, we explore the theoretical implications of incorporating expectations into research on applicant perceptions and discuss the practical significance of justice expectations in selection contexts.
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    Notes: The purpose of this paper is to examine the usefulness of the organizational justice approach to applicant reactions. We begin with an overview of the research relating the fairness of selection procedures (“selection fairness”) to individual and organizational outcomes. Next we propose boundary conditions defining when fairness should matter, the appropriate outcomes to examine in applicant reactions research, and methodological issues limiting the contribution of much of the current literature. We then consider a range of questions that remain to be addressed and new issues such as high-tech testing. Finally, we propose a series of applied questions and recommendations based on both theory and empirical research.
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    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishing Ltd
    International journal of selection and assessment 12 (2004), S. 0 
    ISSN: 1468-2389
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper examines the reactions to personnel selection methods in Spain and Portugal using a sample composed of 125 and 104 students, respectively. The results found are very similar in both countries. The best rated and most favorable methods are interviews, résumés and work sample tests, while contacts, integrity tests and graphology were the least favorable ones. With regard to the process dimensions used, face validity and opportunity to perform are the most important bases for considering personnel techniques favorably. The results show some similarities with the ones found by Steiner and Gilliland (1996) in French and American samples. The similarities among the countries are examined and directions for future research are discussed.
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  • 98
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishing Ltd
    International journal of selection and assessment 12 (2004), S. 0 
    ISSN: 1468-2389
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This study explored the relative importance attached to various perceived personnel selection fairness determinants (e.g., selection system content-based variables, features of selection system administration). We investigated how demographic variables (ethnicity and gender), individual differences characteristics (the Big Five and cognitive ability) and job characteristics (job complexity and domestic/expatriate assignment status) relate to the importance of ratings of perceived personnel selection system determinants. The results, especially for race/ethnicity analyses indicated that there might be differences across demographic groups in importance placed on different aspects of selection system characteristics. The magnitudes of the relationships were small to moderate for Asian–White and Hispanic–White comparisons. Asian–Hispanic and gender differences in importance assessments were small. Few individual differences variables (i.e., personality and cognitive ability) were associated with importance placed on various aspects of selection system characteristics. Notable exceptions were moderate positive relationships between general mental ability and importance of content-based selection system characteristics, and moderate negative relationships between emotional stability, conscientiousness and cognitive ability, and importance of selection system context variables. The complexity levels of the jobs held by respondents did not appreciably affect the importance placed on the different selection system characteristics. There were few notable differences between importance assessments for domestic versus expatriate positions. Implications for practice, especially managing cultural diversity in organizations, and for theory development are discussed.
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  • 99
    Electronic Resource
    Electronic Resource
    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Industrial relations journal 35 (2004), S. 0 
    ISSN: 1468-2338
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Unlike studies of women, studies of men in paid employment have tended to focus on them purely as workers, trade unionists and breadwinners, rather than on their roles beyond the workplace. This paper addresses this omission by exploring the relationship between paid work and aspects of family life amongst 69 male process workers from three manufacturing companies. It offers qualitative evidence to demonstrate that understanding men's wider domestic/familial roles and responsibilities is integral to analyses of their workplace behaviour. The conclusion from this study is that the boundary between home and work is selectively-permeable, and the workers took aspects of their domestic life into the workplace whilst seeking to prevent their paid work from intruding on family and domestic life.
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  • 100
    Electronic Resource
    Electronic Resource
    Oxford, UK and Malden, USA : Blackwell Publishing Ltd
    Industrial relations journal 35 (2004), S. 0 
    ISSN: 1468-2338
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Books reviewed:Jill C. Humphrey. Towards a Politics of the RainbowBrendan Burchell, David Lapido and Frank Wilkinson (eds). Job Insecurity and Work IntensificationPeter Ackers and Adrian Wilkinson (eds). Understanding Work and Employment: Industrial Relations in Transition
    Type of Medium: Electronic Resource
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