Concentration and Market Structure in Local Real Estate Markets

The competitiveness of the residential real estate brokerage industry has attracted much attention. Anecdotal evidence suggests some local markets are concentrated, yet no systematic market structure study has been conducted. We collected cross‐sectional data on real estate brokers in 90 diverse markets across the United States and collected longitudinal data for Louisville, Kentucky. In medium and large markets, no evidence exists that market concentration might create problems for competition. Small markets, on average, have higher Herfindahl‐Hirschman Indexes than medium and large markets. The longitudinal data reveal that many small brokers sell a house or two one year and none the next year.     

Menopause and the workplace: New directions in HRM research and HR practice

This paper offers two key arguments. The first is that HRM scholars and HR practitioners need to pay a good deal more attention to the bi‐directional relationship between menopause and the workplace—how menopausal symptoms can affect women's experience of work and how work can exacerbate a woman's symptoms. We outline the social responsibility, demographic, legal and business cases which explain the urgency of more research and more concerted practice in this area. Our second argument concerns the importance of future research and practice adopting an intersectional political economy approach, in order to better understand the considerable differences between how women going through menopause transition experience work. Here, we offer arguments ranging from the macro‐ through the meso‐ down to the micro‐level of these differences, in so doing setting an agenda for the work to come on this very significant issue.     

The effect of duration metrics on consumer satisfaction

Consumers increasingly feel that time is scarce. To guide time expectations, many marketers have begun communicating duration metrics—information about how long most consumers typically spend on a given activity. Despite the rising prevalence of duration metrics, little is known about how they shape consumption experiences. Five experiments and an analysis of digital engagement data from articles on a popular online publishing platform show that longer (vs. shorter) duration metrics enhance satisfaction and word-of-mouth after an activity is completed. Subjective time perceptions underlie these effects, such that longer duration metrics make consumers feel like they have spent more time on a given activity, and consumers infer their ex-post satisfaction from the amount of time they feel they have invested. Thus, this research provides insight into how duration metrics operate and challenges the intuition that consumers prefer activities that demand less of their time.     

Learning by Doing and Audit Quality*

In this study, we present a nonstrategic, dynamic Bayesian model in which auditors' learning on the job and their choice of professional services jointly affect audit quality. While performing audits over time, auditors accumulate client‐specific knowledge so that their posterior beliefs about clients are updated and become more precise (that is, precision is our surrogate for audit quality) — what we call the learning effect. In addition, auditors can enrich their knowledge accumulation by performing nonaudit services (NAS) that, in fact, may influence clients' managerial decisions — what we call the business advisory effect. This advisory effect permits auditors to anticipate and to learn about changes in clients' business models, which in turn improves their advisory capacity. These dual “learning” and “advisory” effects are interdependent and mutually reinforcing. The advisory effect of NAS may increase or reduce auditors' engagement risk. We show that large professional fees can induce auditors to provide NAS that increase engagement risk and diminish audit quality. However, when NAS reduce engagement risk and increase audit quality, auditors may provide NAS without charging clients. The feature that distinguishes our study — the interdependence between the learning and advisory effects — provides new insight into the trade‐off between audit fees and audit quality. Consequently, our analysis helps explain why the scope of the audit has evolved over time and why the boundaries between audit and NAS are constantly shifting. A recent example of such a shift is that the Sarbanes‐Oxley Act adds control attestation to audits for public companies traded in U.S. markets.     

Dualism in the German Labor Market?A Nonparametric Analysis with Panel Data

A bstract . Orthodoxy in economics gives pride of place to the hypothesis of compensating differentials. Applied to job quality criteria, such as wage levels, job stability, and wage growth, the compensating differentials hypothesis implies that negative or positive job quality characteristics should— ceteris paribus —rarely coincide. Originating in the late 1960s from studies of American inner-city labor markets, dualist labor market theory has raised doubts about this assumption. At its core, dualist analysis proposes that a dualism exists between a primary' labor market where "jobs possess several of the following traits: high wages, good working conditions, employment stability and job security, equity and due process in the administration of work, and chances for advancement" and a secondary market where jobs "tend to involve low wages, poor working conditions, considerable variability in employment, and little opportunity to advance" (Doeringer and Piore 1971). In the 1980s, there were several attempts to apply dual or segmented labor market theory to European economies, including the German labor market. The mixed findings of these analyses have cast doubt upon the transferability of dualist theory to these contexts.     

Services Grids in Industry – On-Demand Provisioning and Allocation of Grid-Based Business Services

Over the last few years Grid computing has attracted considerable attention from the industry, because it offers opportunities for new on-demand business services for enterprises. In this article, we depict the current trend of enterprises to source Grid services offered by third-party utility providers on a use-on-demand, pay-per-use basis, thus leading to faster IT response to changing business needs. We outline the emerging expansion of Grid computing in industry and discuss the significant challenges still needing to be solved to further promote the adoption of Grid technology in the business domain. This article is also available in German in print and via : Vykoukal J, Wolf M, Beck R (2008) Service-Grids in der Industrie – On-Demand-Bereitstellung und Nutzung von Grid-basierten Services in Unternehmen. WIRTSCHAFTSINFORMATIK. doi: . Accepted after two revisions by Prof. Dr. Buhl.     

Medienberichterstattung über Medienkonzentration

Taking into account the ongoing political debate on self-regulating and self-observing media and the increasing media concentration, the study explores journalists’ strategies of manufacturing credibility in self-referential media communication. How do journalists try to construct a »normal distance« between their public functions on the one hand and the economic stakes of the media conglomerates they work for and the media industry on the other. Based on a qualitative content analysis, the case study on the coverage of the AOL-Time Warner merger reveals significant differences in the tendencies of coverage and the strategies used to solve this dilemma: Independent media such as 〉die tageszeitung〈 tend to report more intensely and to comment more critically, also considering the frameworks of media politics and media ethics. A comparison of 〉Newsweek〈 and 〉Time Magazine〈 shows that increasing self-referentiality goes along with an increasing use and complexity of all three strategies: distancing, revealing, and concealing. 〉Newsweek〈 provides a much more pluralistic and more critical view of the merger than the AOL-Time Warner owned 〉Time Magazine〈, its direct competitor.