Who skims the cream of the Italian graduate crop? Wage employment versus self-employment

This paper tests whether academic achievement is a significant determinant of employment status in the Italian labor market: are new entrepreneurs selected from the top or bottom end of the graduate ability distribution? Is the cream of the graduate crop pulled into self-employment by the higher expected earnings or are individuals with lower degree score pushed into entrepreneurship by poor alternatives? Our data show a strong negative relation between academic achievement and self-employment status, i.e., we find skimming of the best graduates into wage and salary work.     

Human resource control in MNCs: a study of the factors influencing the use of formal and informal control mechanisms

This study tests the effects of different internal and external factors on Multinational Corporations' (MNCs) use of formal versus informal mechanisms to control their human resources. Responses to a survey of 74 General Managers (GMs) of US subsidiaries in Mexico were used to test the hypotheses. The use of formal and informal mechanisms of control was associated with the extent to which the MNC had a global strategy as well as with the strength of localization forces such as local dependence and local regulations. Level of employee education, a subsidiary characteristic, also predicted the extent to which MNCs used informal control mechanisms. Most importantly, the results suggest that, even though they share some antecedents, each type of control mechanism, namely formal and informal, has a different set of internal and external antecedents. Indeed, our data hint that informal and formal control mechanisms are not mutually exclusive and that, on the contrary, they can fruitfully co-exist because they satisfy different internal and external demands.     

The economic consequences of increased disclosure: Evidence from international cross-listings

We examine market behavior around earnings announcements to understand the consequences of the increased disclosure that non-U.S. firms face when listing shares in the U.S. We find that absolute return and volume reactions to earnings announcements typically increase significantly once a company cross-lists in the U.S. Furthermore, these increases are greatest for firms from developed countries and for firms that pursue over-the-counter listings or private placements, which do not have stringent disclosure requirements. Additional tests support the hypothesis that it is changes in the individual firm's disclosure environment, rather than changes in its market liquidity, ownership, or trading venue, that explain our findings.     

The pitfall of nutrition facts label fluency: easier-to-process nutrition information enhances purchase intentions for unhealthy food products

This research examines the metacognitive effects of nutrition facts label clarity on food preferences. Two experiments show that, holding information content and comprehensibility constant, providing consumers with easier-to-process nutrition information increases purchase intentions for food products. The effect occurs not only for healthy (study 1) but also, and more ironically so, for unhealthy (study 1 and 2) food products. In addition, the latter fluency effect is found to be stronger among people scoring low in nutrition knowledge (study 2). These findings emphasize the consequences of delivering easily readable nutrition information to consumers. They also point to a potential pitfall of health prevention policies based on the simplification of nutrition labeling.     

HR's strategic role within MNCs: helping build social capital in Latin America

In this article, we adopt a holistic perspective in considering the impact of the country's environment as well as the multinational corporations (MNCs) strategy on human resource (HR) practices. More importantly, we argue that within MNCs human resource management (HRM) is playing a central role in the process of balancing local and global forces. HR can be critical in helping MNCs' deal with local differences while also helping the company implement practices that are critical for its global strategy. Specifically, we argue that HR plays a key role in developing social capital, which may provide the necessary ‘substitutes’ for formal control that would otherwise be neglected. Our contribution lies primarily in outlining how this new role of creating human capital confers on HR the task of filtering mission-critical practices through a ‘localization mesh’ that ensures success. In addition, given the importance of social capital as an informal mechanism that allows MNCs to coordinate and integrate activities, we suggest ways in which an MNC can build social capital within the context of the Latin American pan-regional cultural values.     

International diversification and industry-related labor income risk

Do equity markets help diversifying away industry-related labor income risk? This paper reconsiders the hedging role of stock markets by focusing on international equity diversification, rather than domestic asset allocation, and on industry wage, rather than individual labor income. We compare industry-based portfolio holdings to the one that is optimal for an investor endowed with the average home-country labor income. Our results resurrect the role of equities in hedging wage risk by uncovering remarkable heterogeneity across industries within each investing country. Our analysis also delivers insights concerning the role of occupational pension funds in designing optimal portfolios for their members.     

The Relationship Between Acculturation,Individualism/Collectivism,and Job Attribute Preferences for Hispanic MBAs*

ABSTRACT This research studied the influence of acculturation on the values of Hispanic MBAs in the USA and the effect these values have on job attribute preferences. As predicted, the less acculturated Hispanic MBAs had significantly higher collectivist values than either highly acculturated Hispanic or Anglo‐American MBAs. Surprisingly, acculturation was not related to individualism. As theorized, collectivistic, and not individualistic, values were significantly related to a preference for contextual job attributes. In contrast, individualistic, and not collectivistic, values were related to a preference for task‐related job attributes. The findings point to the importance of understanding an individual's level of acculturation and his/her specific values, rather than assuming differences based on ethnicity. In addition, the findings indicate that managers dealing with diversity within the USA or globally must understand their employees’ individualistic/collectivistic values before implementing any job design initiatives.     

Effects of Geographical Stratification in a Farm Accountancy Data Network on the Accuracy of the Estimates

This study analyses the effects on the accuracy of the estimates produced by an additional stratification of a sample, in this case the sample of the Farm Accountancy Data Network (FADN) of Navarra. This is carried out by studying the accuracy of the total standard gross margin estimator. For the analysis, the variances of the estimator were compared for two samples: one stratified according to type of farming and economic size, and the other with the addition of a geographical stratification. The conclusion of the analysis is that for samples whose size is similar to that of the FADN of Navarra (400 farms), accuracy is not improved by a geographical stratification. This result, a particular case in which stratification does not improve the accuracy of the estimates, may be clarified by the theoretical considerations expounded in this paper.