Debt crisis,accumulation crisis and economic restructuring in Latin America

The policy debate over the Latin American debt crisis has shifted from the issue of short-term adjustment to that of long-term restructuring. The history of import substituting industrialization (IS) is reviewed in order to establish a context for the current restructuring debates. We argue that the demise of the IS model was primarily due to narrow domestic markets, heavy imports of capital goods and excessive ties with foreign multinationals, not to inefficiencies inherent in market-constraining policies. From this perspective, free market, export-led growth policies are opposed as an appropriate restructuring strategy and policies of redistribution, regional integration and major debt concessions are supported.     

Mitterrand: from Socialism to Realism

The French elected a government of nationalist Bourbons who thought they could plan the economy in a world of international trade. They soon discovered their error but are reluctant to act upon the lessons. Dr Green reveals that the main results have been economic stagnation and a division in the Government between pragmatists and ideologues.     

Economic analysis of injury prevention--applying results and methodologies from cost-of-injury studies

Injuries pose an economic problem of immense proportion to communities in every society. The economic burden from injuries can be quantified through cost-of-injury studies, using techniques adopted from cost-of-illness research. This study explores the feasibility of applying results and methodologies from existing cost-of-injury studies in economic analyses of injury prevention interventions and programmes. The literature on cost-of-injury studies and economic appraisals of injury prevention efforts was examined to elicit studies that calculated injury costs. Studies were accepted for inclusion if they included an analysis of the costs of all injuries occurring in a geographical area (community, region or country) during a specific time period, employed a societal perspective and an incidence-based costing approach and were conducted in industrialized countries. There were 12 studies that met the inclusion criteria. The average total cost per injury case was USD $3536, while the average share of indirect to total cost per injury case was 71%. However, the cost figures showed wide variation across the studies. Based on the limited similarity of findings from the studies, it was concluded that it is not feasible to apply results and methodologies from existing cost-of-injury studies. The cost estimators described in this study could possibly be adapted for use as reference points in economic analyses of existing programmes, but any other uses should be approached with caution. Locally obtained data are needed for reliable economic analyses of injury prevention interventions and programmes.     

Strategic orientations of nascent entrepreneurs: antecedents of prediction and risk orientation

Small Business Economics - The green potential of the sharing economy to exploit underutilised or redundant resources has generated a considerable interest and expectations on the part of...     

On Ethically Solvent Leaders: The Roles of Pride and Moral Identity in Predicting Leader Ethical Behavior

The popular media has repeatedly pointed to pride as one of the key factors motivating leaders to behave unethically. However, given the devastating consequences that leader unethical behavior may have, a more scientific account of the role of pride is warranted. The present study differentiates between authentic and hubristic pride and assesses its impact on leader ethical behavior, while taking into consideration the extent to which leaders find it important to their self-concept to be a moral person. In two experiments we found that with higher levels of moral identity, authentically proud leaders are more likely to engage in ethical behavior than hubristically proud leaders, and that this effect is mediated by leaders’ motivation to act selflessly. A field survey among organizational leaders corroborated that moral identity may bring the positive effect of authentic pride and the negative effect of hubristic pride on leader ethical behavior to the forefront.     

The Structure of Problem Structuring Conversations: A Boundary Games Approach

One of the questions associated with facilitated problem structuring is how the micro level of actors’ multimodal communications, contributes to the emergence of a macro level, framing the possibilities for action in a workshop. This paper shows a way to study this macro level, building the visualization of the conversations’ structure starting from a boundary games theory micro analysis of the interactions. Our empirical evidence comes from following a group of academic consultants working to define a value proposition for their activity. We focus on analyzing two out of nine workshops that were felt diametrically opposite in terms of facilitation and achievements. Moving from the micro towards an upward level, three configurations building the structure are identified—shifting, branching and converging. The work carried out allows us to: (1) visualize the structure of conversations in a problem structuring context, (2) highlight the role of multimodal communications in building the conversations and (3) construct an interpretation bridging the micro and macro readings of a workshop. This knowledge is useful for facilitators guiding the dynamic of a workshop and for researchers looking forward to understanding how micro level interactions build higher levels of the social phenomenon of intervention.     

Gobierno corporativo,financiamiento y género: un estudio de las pymes emisoras de títulos en los mercados de valores argentinos

The aim of this work is to study corporate governance (CG) in small and medium enterprises (SMEs) from a gender perspective. In particular, we study the participation of women in ownership, management (board and senior management) and external audit in SMEs participating in the Argentinean Securities Market. The results show that participation of women in ownership and in external audit has a significant relationship with financing decisions. However, we do not find evidence of relations among different levels of GC and gender.     

Coberturas financieras con derivados y su incidencia en el valor de mercado en empresas colombianas que cotizan en Bolsa

The financial theory (Modigliani & Miller, 1958) rises that risk management was not an issue for companies because shareholders could make their own hedging management through portfolio diversification; however, further studies conflict with that statement and show that corporate financial hedging improves performance and increases the value thereof (Ahmed, Azevedo, & Guney, 2014; Allayannis & Weston, 2001; Allayannis & Ofek, 1998). Efficient management of market risks, which is based on the use of financial derivatives, demands strategic and efficient managers in hedging that adds value to the firm, especially in against shocks and imbalances from a macroeconomic and financial nature. Empirical evidence analyzes the performance of the Q-Tobin as an indicator of the effect of hedging strategies of exchange rate associated to the market value. This paper aims to find evidence in Colombia on the effect of using derivatives in the market value of the firm. Its added value lies in the analysis made by economic sectors, identified by CIIU codes and grouped into 5 sectors (Agricultural, Commercial, Industrial or Manufacturing, Services and Construction). The methodology includes several models estimating regression panel data, using a Pooled regression with estimators of fixed and random effects by maximum likelihood estimator. In general, it was found a premium due to hedging, statistically and financially significant, for companies exposed to exchange rate risks that use derivatives by an average of 6.3% on the market value. Moreover, mixed results were found regarding the analyzed variables in the model.     

“Skankalicious”: Erotic Capital in Women's Flat Track Roller Derby

Erotic capital refers to the use of sexuality for personal gain and has been theorized as a particular source of power (some) women can leverage to advance their interests (Hakim, 2011 Hakim, C. (2011). Erotic capital: The power of attraction in the boardroom and the bedroom. New York, NY: Basic Books. [Google Scholar]). With its overt sexuality, women's roller derby provides an ideal opportunity to investigate erotic capital. Locating erotic capital within a specific time, space, and context, I draw upon third-wave feminism and use in-depth conversational interviews and participant observation to reveal ways “derby girls” perform their sexuality and use it to advance their collective and individual interests. This analysis introduces erotic capital to the leisure literature and demonstrates the intentionality of women's resistance to, and reproduction of, gendered stereotypes, particularly with respect to sexuality. In so doing, the findings highlight a need for rethinking traditional conceptualizations of empowerment whereby resistance equals empowering and reproduction equals disempowering, and initiates a new direction for feminist scholarship in this regard.