The United States as an informed foreign-exchange speculator

US exchange-market interventions have no direct effect on market fundamentals, but they may influence expectations. If intervention has value as a forecast of exchange-rate movements, knowledge that the United States is trading will cause dealers to alter their prior estimates of the distribution of exchange-rate changes. This paper finds that US intervention has had value only as a forecast that recent exchange-rate movements would moderate. Less than half of the interventions, however, seemed successful, and the favorable results were generally confined to two short periods that were characterized by uncertainty about future Federal Reserve policies.     

Intervention from an information perspective

This paper surveys some important recent developments, which have the common theme of interpreting intervention in terms of its effects on the flow of information. The article considers the role of information in generating expectations, the formation of trading rules, price discovery, and the importance of institutional arrangements for the implementation of intervention policy. Suggestions for future research directions are discussed.     

External transparency or internal capture? The role of third‐party statements in adding value to corporate environmental reports11

The paper seeks to evaluate the extent to which verification statements appearing in published corporate environmental reports promote organizational transparency and the empowerment of external parties. To this end, a detailed content analysis was performed on such statements appearing in reports short‐listed for the Association of Chartered Certified Accountants Environmental Reporting Awards for the first seven years of the scheme since its inception in 1991/92. Key issues focused upon included those of verifier independence, degree of rigour applied to verification work, whether the performance dimension is meaningfully addressed in verification statements and the extent to which such statements may be considered to ‘add value’ for external constituencies. Our analysis of the basic characteristics of these ‘leading edge’ statements raises fundamental questions concerning the independence of verification. There is much evidence of auditee control over the process, with an overriding emphasis on the environmental management systems at the expense of commentary on performance‐based ‘first order’ audit. The disturbing conclusion revealed is that current verification practice exhibits a ‘managerial turn’ rather than representing corporate commitment to external transparency and accountability. Copyright © 2000 John Wiley & Sons, Ltd and ERP Environment     

Predicting intention to recycle on the basis of the theory of planned behaviour

Governments worldwide have launched various schemes to promote recycling by individuals, from legislation to voluntary and mandatory policies, waste charging, kerbside collection, waste separation bins, and promotional campaigns. Much remains to be done, however, in terms of understanding the psychological relationships among consumers' attitudes, intentions, and behaviours when it comes to recycling. This study was designed to examine recycling intention through the lens of the theory of planned behaviour (TPB). Using online survey, we recruited participants (n = 827) through an online survey platform ( mturk.com ). The results show that TPB can predict consumers' intention to recycle. It was further found, however, that attitude towards recycling did not predict intention to recycle. The findings presented here have significant implications for policymakers and practitioners who are interested in inculcating recycling intention and behaviours in members of the public. This study extends the TPB in the context of recycling. There is a need to examine the theories' explanatory power in different research settings and context. Moreover, regulations and policies on recycling continue to evolve. For example, recently in 2018, Australia is banning plastic bag. Consequently, the new policy will affect people's perception towards recycling. Hence, continued research on recycling is needed.     

Corruption as an Occupational Choice: Endogenous Corruption and Tax Policy

Corruption is endemic in many countries, and empirical studies have demonstrated how it impacts on macroeconomic indicators. Theoretical studies have generally assumed an exogenously given proportion of the population are corrupt or that the public sector is fixed in size; far fewer explore how corruption emerges endogenously. We endogenize corruption as an occupational choice. Workers choose private or public employment; public employees can be honest or corrupt. Corruption is subject to a social sanction that results in a loss of self-esteem. Those who care little about the social sanction choose to be corrupt. When a firm meets a corrupt public employee it pays a bribe to secure a reduction in the tax rate. The economy has two self-sustaining equilibria with different levels of corruption. Corruption reduces tax revenue and the tax rate that maximizes revenue. An increase in the social sanction reduces corruption but also reduces tax revenues if the economy is in a high-corruption equilibrium. Paying a wage premium to public sector workers can result in all public sector workers being corrupt. Public sector audits to detect corrupt workers always reduce corruption but can only increase welfare when they are cheap to conduct and the economy is in a low-corruption equilibrium.     

Is there a trade-off between the employment and wages of unskilled African South Africans?

The possible trade-off between employment and wages has characterised most of South Africa’s labour market debates, particularly with regards to decent wages versus unemployment. In this article we explore the relationship between labour market earnings and the level of employment among African birth cohorts using labour force data from 1997 to 2011. We find that the association between an increase in the proportion of unskilled employed in a birth cohort and earnings is mediated by the sector of employment. While some sectors exhibit the expected negative association, there is a robust positive relationship between the first two quartiles of the earnings distribution within birth cohorts and the proportion of the birth cohort who are employed in unskilled occupations in the manufacturing and trade sectors. Because a range of market forces determine this relationship, further research is needed to unpack the reasons for such varied outcomes in order to better inform the debates on labour market interventions like the proposed National Minimum Wage and to appreciate the potential impact of such policy interventions on wages and employment.     

Importing set-theoretic tools into quantitative research: the case of necessary and sufficient conditions

Quality & Quantity - In this article, we import set-theoretic methods from the qualitative research tradition into the quantitative research tradition. We focus specifically on set-theoretic...     

Strategic Social Media Use in Public Relations: Professionals’ Perceived Social Media Impact,Leadership Behaviors,and Work-Life Conflict

Using the E-leadership theory as the conceptual framework, the study examined strategic communicators’ perceptions of the impact of social media use on their work, leadership behaviors, and work-life conflict. Through a national sample of communication professionals (N = 458), this study revealed the following key findings. The use of YouTube in professionals’ work, social media use in media relations, employee communications, and cause-related marketing/social marketing were significantly, positively associated with participants’ perceptions of the enhancing impact of social media use. Social media use in crisis management and employee communications significantly, positively predicted professionals’ perceptions of social media’s aggravating impact (e.g., extended work hours, increased workload) on their work. The use of Facebook and YouTube in strategic communication, the use of social media in environmental scanning, as well as the positive and negative impact of social media use all significantly and positively predicted communication professionals’ leadership behaviors. When the unintended negative effects of social media use happened, professionals perceived a low control over their work and thereby experienced a high level of time-based and strain-based work-life conflict. Finally, public affairs/governmental relations professionals who were frequent users of social media for their work reported a high level of strain-based work-life conflict.