Dynamic Spillovers in the United States: Stock Market,Housing, Uncertainty,and the Macroeconomy

In this study, we examine dynamic spillovers among the housing market, stock market, and economic policy uncertainty (EPU) in the United States in a unified empirical framework. Applying the Diebold and Yilmaz (2012) methodology on monthly data over the period 1987M1–2014M11, our findings reveal the following features. First, the transmission of various types of shocks contributes significantly to economic fluctuations in the United States. Second, spillovers show large variations over time. Third, in the wake of the global financial crisis, spillovers have been exceptionally high in historical perspective. In particular, we find large spillovers from EPU, as well as stock market and housing returns to other variables, in particular inflation, industrial production and the federal funds rate. These results illustrate the contagion from the housing and financial crisis to the real economy and the strong policy reaction to stabilize the economy.     

Exploring risk dimensions in the Indian software industry

The success of software projects is quite subjective in nature and is fettered by many risks, the perception of which varies from individual to individual and largely depends on the demographic characteristics of the executives and even the characteristics of the project. This study aims to identify and gauge the software risk dimensions and analyze the differences of perception among executives toward software risks. The contributions of this study untangle the issues underlying risks in the software industry and associates these issues with the perception of the “human” factor present in the industry.     

More optimal designs for diallel cross experiments

It is shown that the complement of a universally optimal design derivable from a triangular design is again universally optimal in a class of connected designs. Furthermore, some series of universally optimal designs for diallel cross experiments are provided. These observations strengthen the result on universally optimal designs by Das, Dey and Dean (1998). Received: August 1999     

HRM Practices and the Within‐Firm Gender Wage Gap

The effect of HRM practices on the within‐firm gender gap in wages in manufacturing is investigated merging a 1999 survey on work practices among Danish firms to matched employer–employee panel data. Self‐managed teams, project organization and job rotation schemes are the most widely introduced practices. Accounting for non‐randomness in adoption, the pay gap is reduced among hourly paid workers but increases among salaried workers. Considering practices individually, wage gains from adoption accrue to males except for salaried workers in firms that adopt project organization and for hourly paid workers in firms that introduce quality control circles.     

Revisiting the gender gap in CEO compensation: Replication and extension of Hill,Upadhyay, and Beekun's (2015) work on CEO gender pay gap

Research Summary: The increasing number of women chief executives motivates considerable interest in examining possible gender differences in CEO compensation. Recently, Hill, Upadhyay and Beekun reported that female CEOs receive greater compensation than male CEOs, which runs counter to common wisdom that the gender pay gap in the labor market favors men over women. With the goal of contributing to cumulative knowledge development in this area, we seek to reexamine Hill et al.'s finding about gender differences in CEO compensation by extending the analyses further in time, using a larger sample of firms and more rigorous empirical analyses. Our findings, which are robust to different statistical procedures and econometric specifications, do not reveal reliable evidence for differences in compensation paid to male and female CEOs. Managerial Summary : For years, a lively debate has centered on the issue of gender pay gap. The ubiquity of the pay gap between men and women has recently been questioned by Hill et al. who identify the chief executive officer (CEO) role as a workplace position where women receive greater compensation than men. Our investigation examines whether women CEOs are indeed compensated substantively more than male CEOs. We seek to replicate earlier work by Hill and colleagues, using an expanded dataset over a longer period of time and with more rigorous analytical tools. We do not find reliable evidence for a difference in compensation paid to male and female CEOs, suggesting that claims about gender gap in CEO compensation favoring women over men may be premature.     

Influence of cultural divergence on consumers' perception towards reconstructed products: A qualitative enquiry

The purpose of this study is to understand whether consumers from different cultures have varied perception towards reconstructed products. Cultural divergence concept provides the theoretical support for the study. Data are collected from consumers of two culturally diverse societies (India and the United States). We use grounded theory for interview and data analysis. From the data, 23 open codes and 8 axial codes for Indian consumers and 28 open codes and 8 axial codes for the American consumers are generated. The key finding of our study suggests that culture plays a decisive role in shaping consumers' perception towards reconstructed products. The other findings of our study indicate that consumers of both societies are influenced by other factors that include product‐ or process‐related factors, brand‐ or store‐related factors, and individual factors. We discuss policy level, firm level, and nonprofit or charity level implications. Finally, limitation and scope for future research are outlined.     

‘Should I Buy,Hoard, or Hide?’- Consumers’ responses to perceived scarcity

Scarce shopping situations often seem to have a greater value for consumers and trigger extreme behaviors. This study examines the effects of scarcity that is strategically created by the marketer in influencing consumer behavior. Drawing from reactance theory, it is suggested that, when scarcity is perceived to be strategically created by the retailer, consumers tend to exhibit deviant and competitive behaviors. The mediating role of emotions like anticipated regret is also examined. Further, the role of human traits like competitiveness and hedonic motivations in moderating the relationships between perceived scarcity and behaviors is also examined. The results of the study suggest that, under the conditions of perceived scarcity, consumers tend to exhibit behaviors like in-store hoarding, and in-store hiding, due in part to the increased urgency to buy. Also, the findings suggest a pertinent role of emotions and human traits in influencing the decision making under the condition of strategically-created scarcity.     

Geopolitical risks and recessions in a panel of advanced economies: evidence from over a century of data

This paper uses a panel of 17 advanced countries over the annual period of 1899–2013, to analyze for the first time, the role played by geopolitical risks in predicting recessions. After controlling for other standard predictors based on a logit model, we find that while aggregate geopolitical risks do not have any predictive ability, geopolitical acts enhance the probability of future recessions, with geopolitical threats reducing the same.     

危机迫使中国向内看

中国是否能够与美国、德国在出口市场上竞争并不是很重要，问题是，中国要在与美国、德国在中国国内市场展开竞争时，具有竞争力。