Addressing the Underemployment of Persons with Disabilities: Recommendations for Expanding Organizational Social Responsibility

The underemployment of persons with disabilities continues to be a societal problem; many persons with disabilities have difficulty securing and maintaining employment. This difficulty contributes to the relatively higher rates of poverty among persons with disabilities as well as their underutilization as productive members of society. This research examines factors that contribute to this underemployment problem. Based on this examination, we develop questions organizations must consider for addressing the problem. These questions are based on creating working relationships for persons with disabilities at an individual level that may be an extension of an organization’s corporate social responsibility program. Individuals with disabilities have a right to obtain and maintain successful employment opportunities; this research outlines the factors at play and provides suggestions for employers to consider in addressing this social problem.     

Salesperson navigation: The intraorganizational dimension of the sales role

Salespeople require the ability to navigate within their own organization to get what they need to be successful given today's demanding customers. The literature on personal selling provides little guidance on this dimension of the sales role and how it might impact selling performance. We develop the notion of Salesperson Navigation (SpN), embed SpN within a conceptual framework, and show how SpN works to impact individual sales performance. We develop both managerial and research perspectives around this phenomenon.     

Private information, trading volume, and stock-return variances

New evidence is provided on the determinants of stock-returnvariances. First, when the Tokyo Stock Exchange is open on Saturday,the weekend variance increases; weekly variance is unaffected,however, despite an increase in weekly volume. Second, the listingof U.S. stocks in Tokyo substantially increases the number oftrading hours, but Tokyo volume is negligible for these U.S.stocks and their 24-hour variance is unaffected. The overallresults are consistent with the predictions of private-information-basedrational trading models, but inconsistent with both the irrationaltrading noise and public-information hypotheses.     

An essay: limited growth,problems of full employment,and the viciousness of easy solutions

This paper reviews some of the possible effects that a slowdown in national rates of economic growth might have on levels of unemployment in an economically advanced nation. The consequences of three types of growth ceilings are considered; “zero population growth”, “limited growth” and “restricted growth”.     

Regional economic effects of higher education institutions

The paper describes five economic linkages by which a university might promote regional development. Both theory and empirical evidence are considered In general, the benefits of a university are found to dissipate too quickly outside of a local region to have very decisive local effects; however, there are exceptions which suggest ways to make the university a more powerful agent of regional development. Major attention is given to the possibility of enhancing the ‘amenity’ effects and the ‘expenditure’ effects of a university. Basic issues of cause-and-effect are also reviewed in light of their policy implications.     

Risk and capital structure in Asian project finance

We develop and test hypotheses derived from a multi-level theoretical framework for understanding factors shaping the credit risk and capital structure of a quintessentially Asian form of investment known as project finance. It differs from other corporate financing approaches. A project company is separate and bankruptcy remote from the investing firm sponsors that create it. The project company relies extensively on debt capital provided by creditors to fund project operations. Creditors provide more (less) debt as a percentage of overall project capital when there is less (more) risk of project failure and non-repayment. We define a target risk framework identifying country-, industry-, syndicate-, firm-, and project-related factors shaping Asian project finance company credit risk and thus, project debt. In a sample of 238 project finance companies announced in 13 Asian countries from 1995–2004, we observe substantial effects on project capital structure with respect to country-level factors linked to institutional and macroeconomic theories, syndicate structure factors linked to agency theory, and lead sponsor experience and project size factors linked to learning and transaction cost theories. We argue that these and other determinants of project finance company credit risk and capital structure in Asia since the mid-1990s anticipate similar relationships now emerging elsewhere around the globe.

Macroeconomic Policy Impacts on United States Agriculture: A Simulation Analysis

United States monetary and fiscal policies influence the domestic agricultural economy directly and, through international linkages, indirectly. This study estimates the magnitude and statistical influence of coefficients relating U.S. macroeconomic policy to the U.S. agricultural economy through domestic and foreign markets. Specific objectives are to specify and estimate a general equilibrium quarterly econometric model of the U.S. macroeconomy and simulate the impact of federal deficit spending on real interest rates, real exchange rates, and net exports of agricultural products. Three hypotheses were tested. The first hypothesis that an increase in federal deficit spending increases the real interest rate could not be rejected; a $100 billion reduction in the U.S. deficit was estimated to reduce real interest rates by two percentage points or more. The second hypothesis that an increase in real interest rate increases the real value of the U.S. dollar in foreign exchange markets had strong support and could not be rejected. A third hypothesis that a rise in the real value of the dollar reduces net exports of U.S. farm products also could not be rejected. Results indicate that the U.S. agriculture would benefit from the lower exchange value associated with an ‘optimal’ macroeconomic policy. That policy initially made the overall U.S. economy perform less satisfactorily but that performance improves over time.     

To Avenge or Not to Avenge? Exploring the Interactive Effects of Moral Identity and the Negative Reciprocity Norm

Across three studies, the authors examine the interactive effects of moral identity and the negative reciprocity norm in predicting revenge. The general argument is that moral identity provides the motivational impetus for individuals’ responses, whereas the normative framework that people adopt as a basis for guiding moral action (e.g., negative reciprocity norm) influences the direction of the response. Results indicated that moral identity and the negative reciprocity norm significantly interacted to predict revenge. More specifically, the symbolization dimension of moral identity interacted with the negative reciprocity norm to predict revenge when individuals were the targets of mistreatment, whereas the internalization dimension of moral identity interacted with the negative reciprocity norm to predict revenge when individuals were the observers of mistreatment. Theoretical implications related to the differences between the symbolization and internalization dimensions of moral identity, the importance of examining normative frameworks, and the functionality of revenge are discussed.     

Strong Renminbi Policy & the Coming of Age of China's Outward FDI

This,we believe,will be the year of Beijing's strong renminbi policy.Despite concerns about exports,we believe Beijing will keep the CNY pegged against a strong dollar.Combined with cheaper commodity prices and the pressing need of many overseas commodity firms to deleverage,this will create the perfect opportunity for China's firms to significantly ramp up their outward foreign direct investment (FDI).