The Non-Robustness of the Nash-Stackelberg-Hybrid Equilibrium

In a simple, standard sequential search model, the Nash-Stackelberg-Hybrid equilibrium is shown, in general, to be non-robust when the assumption that all firms are constrained to operate one outlet is dropped. Unless the firms are constrained from increasing the number of outlets or the price, they will open additional outlets to increase their market power. In a standard duopoly model an equilibrium featuring both firms operating multiple outlets is shown to exist.     

The role of the corporate HR function in global talent management

We currently know little of the role of the corporate human resource (HR) function in multinational corporations regarding global talent management (GTM). GTM is explored here from two perspectives: increasing global competition for talent, and new forms of international mobility. The first considers the mechanisms of GTM, and the second, individual willingness to be mobile, especially in emerging markets, and the organizational capability needed to manage this talent. New corporate HR roles are identified which show how these issues might be addressed. We then advance our understanding of GTM theory and practice by considering the major future challenges facing corporate HR.     

THE USES OF NATIONAL BALANCE SHEETS

The now urgent problem in the field is to translate into practice the theoretical agreement, slowly reached over the past two decades, on the need for and feasibility of sectorized national balance sheets.
The paper discusses the five main uses of national balance sheets, viz. (1) the study of the relations among assets and liabilities at one point of time in one country, particularly the position of financial institutions; (2) the analysis of changes in one country's financial structure between several balance sheet dates; (3) the comparison of balance sheet structure at one date among two or more countries; (4) the comparison of the financial development of several countries for at least two but usually more numerous balance sheet dates; and (5) the use of selected balance sheet items, e.g., reproducible tangible assets or liquid financial assets, in econometric models.
Examples are presented of the first three uses, viz. for (1) an eleven sector balance sheet matrix for the U.S. as of the end of 1962; for (2) an unsectored national balance sheet of the U.S. in 1900, 1912, 1929, 1939, 1945 and 1958; and for (3) a comparison of condensed unsectored national balance sheets for a dozen countries (USA, UK, France, Germany, Belgium, Norway, Italy, Japan, Israel, Mexico, India and the USSR) for a date in the neighborhood of 1960.     

Towards a Post-Dualistic Business Ethics: Interweaving Reason and Emotion in Working Life

We highlight and challenge the dominance of rationalist assumptions in business ethics that promote and legitimize a privileging of reason over emotion as a source of moral action. We ask whether it is possible for business ethics not only to challenge this hierarchy but to avoid its reversal. We start by exploring some origins of reason-based ethics and relate these to ideas about organization. Here we hint at some popular examples of this kind of ethics and discuss two of its more important sources of inspiration: Kant and Weber. Next, we consider the relationship between bureaucracy and morality before evaluating Bauman's ideas about morality in bureaucratic organizations. We argue that Bauman fails to challenge the dualism between reason and emotion as he inverts the hierarchical relationship between them. Contending that this hierarchization should be abandoned, we explore how the preceding discussion illuminates business ethics and address some consequences of our anti-dualist position.     

Modeling Exchange Rate Volatility

This paper investigates the impact of the volatility of the underlying macroeconomic fundamentals on exchange rate volatility utilizing the bounds testing approach to cointegration. The results show that, in the long run the volatility of the money supply is the sole determinant, whereas in the short run overshooting is found.     

What Determines Sectoral Trade in the Enlarged EU?

In this paper, we estimate a sectoral gravity model for trade within a heterogeneous trade bloc, the enlarged EU, comprised of a high‐income group (wealthiest EU), a middle‐income group (Greece, Portugal and Spain), and a low‐income group (new Central and Eastern European member countries). The estimation was conducted on sectors with different degrees of scale economies and skill‐intensities in the presence of transport costs. The results offer support for the call to incorporate trade theories based on both endowments and scale economies. In addition, whilst integrating poorer countries is beneficial for all of the participants in the bloc, there is still a role for a redistribution policy, such as the EU's Regional Policy, which should comprise a mix of policies, focusing on both income and education/skills, together with infrastructure development.     

The Dual Meaning of Managerial Careers: Organizational and Individual Levels of Analysis

A theoretical framework is proposed which brings out the duality of managerial careers by distinguishing between organizational and individual levels of analysis. At the organizational level, careers can be seen as part of a process of social reproduction, which points the way to linking organizational form and behaviour with comparatively stable career patterns characteristic of particular firms or kinds of firm. At the individual level careers are expressed as a sequence of work role transitions, representing choices between opportunities presented to managers by organizations. Each level of analysis illuminates a different aspect of managerial careers, but it is equally important that each should be seen in the light of the other.