The interplay between learning strategy and organizational structure in predicting career success

The institutionalization of management development and the money spent on it is in sharp contrast to the importance attached to what we know about how managers learn and whether it helps them to get promotion, given the specific organizational context in which they work. We therefore examined career success as a complex positive or negative function of the individual's learning strategy and the organization's structure. One hundred and twenty-seven managers from three government-related organizations completed a questionnaire. A deep learning strategy, characterized by a focus on meaning and relations, fosters career success, especially in a lowly specialized context. In contrast, a surface learning strategy, characterized by a focus on instructions and facts, hampers career success, especially in a highly integrated context. The findings strongly suggest that management development programmes need to be made to measure, taking into account both how the manager learns and how the organization is structured.     

Classical Mechanics With An Ethical Dimension: Professor Tinhergen’s Economics

This article is an attempt to present and assess Professor Jan Tinbergen’s influential work in economics. It is inspired by the controversy between John M. Keynes and Jan Tinbergen conducted in the Economic Journal over half a century ago. [Keynes 1939, 1940; Tinbergen 1940]. The key issue in the discussion was how far economic phenomena were quantifiable and representable in invariant empirical relationships. For the writing of the article at hand, this author had an additional spur: he was himself a victim of Tinbergen’s verdict that economics must quantify in order to be scientific¹. The disagreement between Keynes and Tinbergen was fundamental, but in view of the intellectual monoculture prevailing since World War II, economists considered a discussion of this sort to be increasingly unnecessary and irrelevant. However, in recent years there has been a change in the wind. On the one hand, there is increasing dissatisfaction with the paradigmatic foundations of contemporary economics, and on the other, there have been scientific advances in physics, which constitutes a major paradigmatic basis of conventional economics. This article assesses the foundations of Tinbergen’s work in view of some of the changes in the natural sciences.     

Parent cultural control of foreign subsidiaries through organizational acculturation: a longitudinal study

Organizational acculturation refers to changes in the work values of host-country employees in foreign subsidiaries. Although many multinational corporations practise cultural control of global operations, organizational acculturation has attracted very little academic research. In the present study, the subjects are Hong Kong Chinese managers employed in subsidiaries of multinational corporations from a European country. Longitudinal research was conducted over three years among an 'acculturation' panel, a control panel and a benchmark panel. The findings showed that organizational acculturation may have occurred in some of the work values measured. Implications of these findings for international firms are discussed in detail.     

¿Han sido el IBEX35 y el IPC definiciones financieramente eficientes del portafolio de mercado?

The present paper questions the financial efficiency of the most used market portfolio proxies in Spain and Mexico (IBEX35 and IPC) in order to determine if these can be considered a proper market portfolio proxy. The paper questions if they can be used as “neutrals”, according to Black & Litterman (1992) proposals in portfolio management. For this purpose, two discrete event simulations that use the Markowtiz-Tobin-Sharpe-Linter model (Markowitz, 1987, p.5) are performed with monthly data of the stock members of these indices in a February 2001 to December 2010 time window. The results are compared by using the Sharpe ratio (Sharpe, 1966) and show that the equilibrium assumptions in the market do not hold, leading to conclude that these market portfolio proxies are inefficient.     

Human capital and economic growth in Spain, 1850–2000

We investigate human capital accumulation in Spain using income- and education-based alternative approaches. We, then, assess human capital impact on labor productivity growth and discuss the implications of its alternative measures for TFP growth. Trends in human capital are similar with either measure but the skill-premium approach fits better Spanish historical experience. As education is a high income elastic good, human capital growth computed with the education-based approach seems upward biased for the recent past. Human capital provided a positive albeit small contribution to labor productivity growth facilitating technological innovation.