Exploring the impact of self‐construal and cultural intelligence on alcohol consumption: implications for social marketing

• There is enormous cross‐cultural variation in alcohol choices and drinking behaviour. Because of the inherent differences in historical drinking culture, as well as differences in alcohol policy globally, similarities and differences in drinking patterns have long been a focus of interest among public health and social marketing researchers. Thus, the purposes of this study are (1) to explore differences between groups (Australian and non‐Australian‐born respondents) on self‐construal, cultural intelligence and alcohol consumption and (2) to investigate the impact of self‐construal and cultural intelligence on alcohol consumption in Australia. Data for this study were collected through a large public university in Australia (N = 669). The paper found that people with interdependent self‐concept were less likely to drink alcohol than people with independent self‐concept and cultural intelligence was not significantly related to hazardous alcohol use, harmful alcohol use and dependence symptoms. Variations between Australian‐born and overseas‐born groups were evident. Limitations of the current study and an agenda for future research are outlined.

Copyright © 2016 John Wiley & Sons, Ltd.     

Modeling nonlinear dynamics of daily futures price changes

The purpose of this article is to characterize linear and nonlinear serial dependence in daily futures price changes. The daily prices of four futures are included in this study: (i) S&P 500; (ii) Japanese yen; (iii) Deutsche mark; and (iv) Eurodollar. Our major empirical findings are: (i) Based on the results of nonlinearity tests (that is, the BDS, the Q², and the TAR-F tests), we found all futures price changes contain nonlinearity in the series; (ii) a GARCH model can explain the source of nonlinearity for three out of four series; (iii) a threshold autoregressive model and autoregressive volatility model can adequately represent nonlinear dynamics of S&P 500 series; and (iv) deterministic chaos is not evident in the scaled residuals from the nonlinear time series models. Hence we favor a statistical time series approach to represent the data-generating mechanism of futures price changes. © 1999 John Wiley & Sons, Inc. Jrl Fut Mark 19: 325–351, 1999     

Currency crisis and the forward discount bias: Evidence from emerging economies under breaks

This paper investigates the effects of two financial crises (the 1997 Asian currency crisis and the 2000 Turkish financial crisis) on the forward discount bias in 14 emerging-market economies using a robust two-stage procedure. This unique sample of less researched currencies displays: (i) high persistence in forward discount equations; and (ii) varying variance ratios between changes in exchange rates and the forward premium. The findings provide new insights into the forward discount puzzle: financial crises exert considerable power on the forward discount bias and uphold the forward rate unbiasedness hypothesis (FRUH) by reverting the negative sign into positive.     

Role Profiles of HRD Practitioners in the Netherlands

This study of HRD practitioners and experts in the Netherlands was executed in 1993 and based on an earlier US role profile study. Two types of profiles were identified for eleven different roles that an HRD practitioner might perform within her or his job. Both profiles consist of core outputs of the different roles and the core competencies required for achievement of the outputs. Comparisons were drawn between current and future profiles and between the results of the expert study and the outcomes of the US study. The American role profiles appeared to be largely valid for the Dutch context.     

Telecommunications dynamics,output and employment

In EU countries, opening up of telecommunications markets and regulations have helped to reduce the price of digital services which is an important quasi-input factor in all firms. Integrating the use of telecommunications in a macroeconomic production function is the analytical starting point for our interdependent analysis of output, use of telecommunications and employment. Based on unit root and co-integration analysis as well as an error correction three-equation model which is estimated simultaneously, we present results both on long run links and short run links between telecommunications, output and employment. Considering various scenarios suggests that a fall in the relative price of telecommunications can generate a cumulated employment increase of 760,000 within seven years in Germany. The institutional setup for regulating telecommunications could be improved in Germany and other EU countries; investor-friendly regulation is required.     

Blockholder dispersion and firm value

Multiple blockholder structures are a widespread phenomenon in the U.S. The theoretical literature, however, provides conflicting predictions on whether a single large blockholder or a set of dispersed smaller blockholders is better for firm value. Using U.S. data, we find a negative correlation between Tobin's Q and blockholder dispersion. The findings are robust to a wide variety of model specifications and controls and differ from results for other geographic regions such as Europe and Asia.     

Dispute resolution in international trade

Internationalization of a company's operations creates new uncertainty and risk for the company, including political and legal issues. This article discusses some of these problems, examines alternative solutions for these problems, and makes recommendations as to what solutions a company should give priorty to. Specifically, the study argues that in international business arbitration and litigation should be used as lust resort and only when all other alternatives have been exhausted.     

The role of evaluation in SMMEs’ strategic decision-making on new technology adoption

ABSTRACT

The complex nature of small business operations has led to adopting IT as a tool to enhance the productivity, efficiency and growth of Small, Medium and Micro Enterprise (SMMEs). Despite the increased spend on IT, many SMMEs do not understand the importance of IT investment evaluation, which adversely impacts their technology and decision-making ability to realise benefits. The study explores the role evaluation plays in SMMEs’ decision-making to adopt the technology, and the ability to evaluate technology potentials thereof. Case studies were conducted, data collected analysed using the thematic analysis, with hermeneutics employed to derive deeper and richer meanings from the findings. SMMEs often base their decision to adopt the technology on speculative and empirical knowledge from personal judgement, communication preferences and individual experiences. Implications of TE potential may lead to the adoption of inappropriate or non-adoption of the technology, with adverse effects on business sustainability.     

The Impact of Downward Rating Momentum

Rating downgrades are known to make subsequent downgrades more likely. We analyze the impact of this “downward momentum” on credit portfolio risk and bond portfolio management. Using Standard&Poor’s ratings from 1996 to 2005, we apply a novel approach to estimate a transition matrix that is sensitive to previous downgrades and contrast it with an insensitive benchmark matrix. First, we find that, under representative economic conditions, investors who rely on insensitive transition matrices underestimate the momentum-sensitive Value-at-Risk (VaR), on average, by 107 basis points. Second, we show that bond portfolio managers should use our downgrade-sensitive probabilities of default as they seem to be better calibrated than momentum-insensitive estimates.     

Measuring wage discrimination in Italy: a random-coefficient approach

Using data from a representative 1989 household survey for Italy we estimate random-coefficient earnings frontiers by gender, marital status and location. These estimates are used to calculate discrimination indices. Our results show that fixed coefficients can be rejected in all cases. A wide range on the estimated coefficients indicates a high degree of variation in the quality of the observed human-capital variables as well as different degrees of ability as perceived by the employer. We find reverse discrimination for single females in the South and the North. For married females there is evidence of discrimination, particularly in the South. We isolate the effects of tenure and education on discrimination and find that these reduce discrimination for Southern-married females.