Perceptions and Worry about Hazards at Work: Unions, Contract Maintenance, and Job Control in the U.S. Petrochemical Industry

Union statements and journalist accounts have tied workers' fears of accidents to the increasing use of subcontractors at U.S. petrochemical plants. In this case study of workers at a chemical facility in Louisiana, we explore who perceives and worries about chemical exposures and explosions in the work place and why. Perceptions of chemical exposures were highest among union members, contract workers, and those with low job control, whereas perception of explosions was highest among those reporting being rushed or overworked. Contract workers appear to be more worried about hazards in the industry than direct-hire employees.     

The role of the U.S. medical complex and the media in value transformation: The case of viable organ transplant

This paper examines the unintended consequences of marketing a specific technology— viable organ transplantation. A content analysis of print media is conducted to compare accounts of the world's first heart transplant (1967) with accounts of subsequent local transplants in a southwestern city. Results of this analysis suggest that “objective” coverage of transplant incidents convey changes in the construction of the self the authors associate with the interdependence of culture, technology, and marketing practice.     

Attitudes towards Uniform Accounting: Cultural or Economic Phenomena?

The existing literature suggests that uniformity versus flexibility is a key dimension of differentiation in cross-national financial reporting practices. However, the issue of what drives attitudes towards uniformity has not been explored. Drawing upon a variety of existing studies, this study explores the attitudes of "Big 6" auditors in 23 countries towards rules mandating a single treatment across 14 issues. The study finds that auditors are in favor of a single mandated treatment in the majority of cases and that support for such rules is affected by both culture and the importance of the domestic stock market to the country. These results hold true even after the influence of extant practice or the level of uniformity of current practice is controlled for. Relatively higher levels of uniformity in de facto financial reporting practices and relatively stronger support for increased uniformity were both found in many of those countries which are traditionally thought of as having more flexible financial accounting systems.     

UNEMPLOYMENT INSURANCE AND EXPERIENCE RATING: INSURANCE VERSUS EFFICIENCY*

Unemployment insurance (UI) distorts firms' layoff decisions by reducing the cost of laying off workers. To dampen this increase, it has been suggested that UI should be financed with an experience‐rated tax. Despite the fact that increasing the level of experience rating can reduce unemployment, it can reduce the insurance coverage workers receive. With high experience rating, firms may reduce their severance payments by more than the UI benefit. We build a model where competitive firms offer contracts with severance payments to risk‐averse workers. Frictions in the labor market lead to incomplete insurance. This article shows that less than full‐experience rating enables the government to increase the insurance coverage workers receive. Welfare implications are also investigated.     

Do Price Discreteness and Transactions Costs Affect Stock Returns? Comparing Ex‐Dividend Pricing before and after Decimalization

By the end of January 2001, all NYSE stocks had converted their price quotations from 1/8s and 1/16s to decimals. This study examines the effect of this change in price quotations on ex‐dividend day activity. We find that abnormal ex‐dividend day returns increase in the 1/16 and decimal pricing eras, relative to the 1/8 era, which is inconsistent with microstructure explanations of ex‐day price movements. We also find that abnormal returns increase in conjunction with a May 1997 reduction in the capital gains tax rate, as they should if relative taxation of dividends and capital gains affects ex‐day pricing.