Predictors and processes of satisfaction with work–family balance: Examining the role of personal,work, and family resources and conflict and enrichment

Drawing from resource-based theories, we conduct two studies to investigate the unique and relative importance of personal (e.g., resilience, proactive health behaviors), work, and family resources (i.e., enriched job and family roles, work and family support) to balance satisfaction, and the mediating roles of conflict and enrichment. We test our hypotheses in Study 1 using a cross-sectional survey of 216 employees and in Study 2 using a time-lagged survey over 3 months with 220 employees. Across both studies, work and family resources (e.g., enriched job and family characteristics, work and family support) were positively related to balance satisfaction. In general, work resources were more relevant to balance satisfaction than were personal or family resources. In terms of processes, work resources relate to less work-to-family conflict and greater work-to-family enrichment which in turn, relate to greater balance. In contrast, the family-to-work directions of conflict and enrichment were just weakly related to balance. Across the two studies, findings regarding the role of personal resources were mixed. We discuss how these findings expand our understanding of work–family balance and the practical implications for human resource practitioners.     

Pricing in the Norwegian Interbank Market – the Effects of Liquidity and Implicit Government Support

We investigate the effects of central bank liquidity and possible implicit government guarantees against default on Norwegian overnight interbank interest rates. We conduct an econometric study of these interest rates over the period 2006–09, which includes the sharp fall in interbank trading during the financial crisis. Our findings suggest relatively lower funding costs for banks of systemic importance, particularly for banks with many and valuable linkages to other banks. Moreover, interest rates are found to depend not only on overall liquidity in the interbank market, but on its distribution among banks as well. There is also evidence of stronger effects on interest rates of systemic importance, creditworthiness and liquidity demand and supply factors during the financial crisis.     

A meta-analysis of the equity premium

The equity premium is a key parameter in asset allocation policies. There is a vigorous debate in the literature regarding the actual measurement of the equity premium, its size and the determinants of its variation. This study aims to take stock of this literature by means of a meta-analysis. We identify how the size of the equity premium depends on the way it is measured, along with its evolution over time and its variation across regions in the world. We find that the equity premium is significantly lower if measured by ex ante methods rather than ex post, in more recent periods, and for more developed countries. In addition, looking at the underlying fundamentals, we find that larger volatility in GDP growth tends to raise the equity premium while a higher nominal interest rate has a negative impact on the equity premium.     

低碳之行,始于足下

《21世纪商业评论》:近几年来,随着环境问题日益严峻,低碳设计被越来越多的企业所关注,你认为低碳设计究竟是一种什么概念呢?卡斯特.格雷:低碳设计最基本的含义是你设计的产品必须是低碳排放的,但在我看来,它更是一个过程,每一代产品都比前一代产品有明显的碳排放量的降低。有一些企业在进行了很小部分的低碳改造之后也会称其为低碳设计,但在我     

Generational Accounting, Solidarity and Pension Losses

Summary The stock market collapse led to political tensions between generations due to the fuzzy definition of the property rights over the pension funds’ wealth. The problem is best resolved by the introduction of generational accounts. Modern consumption and portfolio theory shows that the younger generations should have the higher equity exposure due to their human capital. Stock market losses should be distributed smoothly over lifetime consumption by adjusting both current contributions and future entitlements. We present expressions for the substantial welfare losses involved in various practically relevant deviations from the optimal system. We are grateful to stimulating suggestions by Lans Bovenberg, Casper van Ewijk, Frank de Jong and by two anonymous referees.     

An experimental examination of rational rent-seeking

The theoretical literature exploring various ramifications and applications of Tullock's (1980) rent-seeking model is extensive and rapidly growing. In contrast, there exist as yet only a few experimental evaluations of this model, with ambiguous results. Moreover, these studies focus on one particular case (proportional probabilities) and use a problematic experimental design. With an appropriate design we investigate the extreme cases of proportional probabilities and perfect discrimination, which offer the starkest contrast in theoretical predictions. We find substantial evidence for the predictive power of the rent-seeking model, particularly if one allows for the fact that people sometimes make mistakes or are confused about what to do.     

Economic Organization, Innovation Systems, and the Internet

How can public policy best promote successful innovation inthe Internet sector? This paper creates a typology of differenttypes of Internet software firms. Institutions associated withthe ‘Silicon Valley Model’ are a strong driver ofsuccess for some key Internet technologies. However, patternsof human-resource development and knowledge management varywidely across Internet technologies, necessitating the developmentof very different commitments between managers and employees.Institutional frameworks associated with ‘organized’economies, such as Germany or Japan, might provide superiortool-kits to help some types of Internet firms to innovate.Furthermore, our analysis suggests that the creation of institutionalincentives is not the only way to promote patterns of technologicallyintense innovation associated with Silicon Valley. Technologicalstrategies of dominant firms are often equally important. Regardlessof institutional environment, the development of entrepreneurialsoftware firms can be strongly influenced by the activitiesof large firms working within core network telecommunicationtechnologies.