Blockchain in Additive Manufacturing and its Impact on Supply Chains

Additive manufacturing (AM) appears to be a particularly attractive use case for blockchain. This research combines inductive in‐depth interviews with the Delphi method to explore what potentials blockchain technology in AM creates, which adoption barriers firms need to overcome, and how supply chains will be affected by the integration of these two potentially disruptive technologies. The results suggest opportunities that are related to intellectual property (IP) rights management, the monitoring of printed parts throughout their lifecycle, process improvements, and data security. The most important barriers for blockchain adoption in AM are an absence of blockchain‐skilled specialists on the labor market, missing governance mechanisms, and a lack of firm‐internal technical expertise. By addressing important limitations of AM, blockchain is expected to improve the competitiveness of AM in parts’ production, catalyzing the trend toward more decentralized manufacturing resulting in more agile, resilient, and flexible supply chains and reduced logistics costs. Beyond that, blockchain‐based AM platforms are expected to enhance supply chain visibility, drive supply chain digitalization, support supply chain finance, and contribute to the emergence of shared factory systems.     

Do measurement-related fair value disclosures affect information asymmetry?

Using a sample of European real estate firms over the 2007–2010 period, this study provides some evidence that measurement-related fair value disclosures reduce information asymmetry. We find a negative association between the extent of fair value disclosures and the bid-ask spread, but no association with two additional measures of information asymmetry (zero returns and price impact). Contrary to our expectation, we fail to find evidence that firms using model estimates exclusively benefit the most from such additional disclosure. Analysing measurement errors (the absolute difference between the selling price of an asset and its fair value prior to sale), we find that firms that use model estimates exclusively and provide more measurement-related disclosures have lower errors and more accurate fair value estimates. In other words, if our lack of results is due to investors not using this additional disclosure this is to their detriment.     

The prospect of decent work,decent industrial relations and decent social relations in China: towards a multi-level and multi-disciplinary approach

Abstract

Decent Work is a key initiative launched by the International Labour Organization in 1999. The initiative is to promote decent and productive employment with decent conditions of freedom, equality, security and human dignity. In reviewing academic literature on decent work, existing studies have been conducted primarily from a legal and political economic perspective. It is also largely situated outside any national industrial relations framework, both theoretically and practically. Decent work is an advocacy initiative of ILO, but the promotion of universal values embodied in the notion (e.g. equality, fairness, justice and dignity) needs to be tailored to specific societal contexts. Drawing on existing academic literature, this review article examines ideological, institutional and cultural distances between decent work and the reality of employment in China. It argues that achieving decent work requires an ideological transition of ‘traditional’ Chinese work ethics and a cultural transition from collectivism and altruism towards individualism and an emphasis on individual rights. This study also examines and highlights regulatory enforcement deficits and the inadequate role of the trade union in facilitating the advancement of decent work at various levels. Finally, the article argues that the study of decent work should be mainstreamed as an integral part of decent industrial relations and ultimately, decent social relations. It calls for a multi-level and multi-disciplinary approach to examining the historical, political, economic, ideological and cultural context of specific countries in fulfilling the ‘Decent Work’ agenda.     

“Data localization”: The internet in the balance

There is a steady global trend towards “Data Localization,” laws by which data is required to be maintained and processed within the geographic boundaries of its state of origin. This development has raised concerns about its possible adverse impacts on emerging data-intensive technologies such as Cloud services/E-commerce, Big Data, Artificial Intelligence and the Internet of Things (collectively, the Embedded Infosphere). The inability to reach an international agreement on rules for cross-border data flows may have significant adverse consequences for all future users of the Internet.The basis of Data Localization is grounded in two distinct but inter-related policy models: Data Sovereignty and Trans-Border Data Flows. These two concepts have different origins. “Data Sovereignty” is derived from the historic power of a state of absolute and exclusive control within its geographic borders. Policies behind TBDFs arose in Europe following World War II, primarily motivated by Nazi use of early proto-computers to help round up Jews and others. As they have evolved, TBDF policies have been directed primarily at protecting personal data and privacy.This article first examines the issues of: 1) “Information Sovereignty” and 2) TBDFs. It then describes the arguments for and against “Data Localization,” offers some examples of strong localization policies (Russia, China), and summarizes contesting policy proposals. It then contextualizes TBDF with issues of human rights (free flow of information) and privacy.While the utility of an international agreement on TBDFs is clear, the differences in approaches are tenacious. For the free-market developed world (e.g, EU, OECD), the path forward seems to lead through policy convergence to compatible rules, with differentiated levels of data protection and accountability. It is far from clear whether these rules will address, in a mandatory way, issues of the “free flow” of information in the human rights sense. At the same time, there are countries (e.g., BRICS), representing a majority of the world's population, in which political and cultural resistance will produce stringent Cyber Sovereignty and Data Localization policies with few if any human rights components.The article concludes that the more the Internet is “localized”, the more attenuated its benefits will become. The negative consequences of Data Localization will become increasingly obvious as new, data-intensive technologies become ubiquitous, creating a condition of “Data Dependence”. It is projected that in the future the nations with the least amount of Data Localization and the most open flow of information will be the most successful in benefiting from new data-intensive embedded, networked technologies. This will most likely be characterized by values adopted as policies and practices in the EU.     

Domestic institutions and export performance: Evidence for Cambodia

The paper analyzes the relevance of domestic institutions for export performance of Cambodia. Regulatory quality, control of corruption, rule of law, government effectiveness, and political stability are introduced in an augmented gravity model with a panel data set over 1996–2015. The research is the first application to Cambodia, until 2015 a least developed country which is generally believed to have poorly developed institutions. Due to high multicollinearity among the variables, the institutional variables are introduced in the model one by one. Estimation is by the Hausman–Taylor method, which reduces or removes the correlation between the composite error terms and the included variables. All institutional variables show a highly significant positive relationship with Cambodia's exports, with rule of law having the largest impact. It is concluded that the government should give high priority to the further improvements of the legal environment and to strong enforcement of property rights and contracts.     

An examination of the effects of 2014 concealed weapons law in Illinois on property crimes in Chicago

The purpose of the present study is to determine the effects of ‘may issue’ Concealed Carry Weapons (CCW) law implemented in early 2014 in Chicago. Based on the daily community-level crime data from January 2006 to December 2015, using zero-inflated negative binomial difference-in-difference specification with Philadelphia as the control group, the property crimes in Chicago declined after the implementation of ‘may issue’ CCW law. The findings are robust to alternate treatment windows and to a placebo test using time windows before implementation of the law.     

Economic Competition,Policy Interdependence,and Labour Rights

Extant scholarship treats national policies concerning labour rights as a function of economic factors and yet neglects influences of policies among economically competing states. Relying on the policy interdependence theory, this study argues that labour rights policy in a state is dependent on its economic competitors’ labour policy decisions. It specifically maintains that the intensifying competition for foreign direct investment and exports as well as against imports channels negative externalities of deteriorating labour protection in competing states which drives expansive downward policy mimicking and leads to a global decline in labour rights – a race to the bottom. Utilising spatial econometric technique to analyse a new data on labour rights for the period 1994–2009, it finds that labour rights practices are interdependent among economic competitors and experience global deteriorations; whereas labour rights laws remain largely independent due to high policy and reputational costs of lowering them and show more fluctuations.     

Salvador Allende's development policy: Lessons after 50 years

Last year, 2020, was the 50th anniversary of the opening of the ‘Chilean road to socialism’ by Salvador Allende. Although the Allende government is the political reference for the 'socialism of the 21st century’ in Latin America, international supporters tend to disregard the primary cause of its downfall, focusing instead on the circumstances of Allende's death. This article explains the link between the Allende government's development policies and its macroeconomic outcomes between 1970 and 1973. It finds that Chile's economic collapse had an endogenous cause related to government policies. This supports the views of Mises and Hayek on the feasibility of socialist economic policies. Policymakers and commentators should recognise essential lessons from the Chilean experience to learn from past errors and effectively promote Latin America's economic development.     

A $10 million question and other cybersecurity-related ethical dilemmas amid the COVID-19 pandemic

Cybercrime and cybersecurity are like two sides of the same coin: They are opposites but cannot exist without each other. Their mutual relation generates a myriad of ethical issues, ranging from minor to vital. The rapid development of technology will surely involve even more ethical concerns, like the infamous example of a fitness tracking company allegedly paying $10 million worth of ransom. Every cybersecurity solution, tool, or practice has to be ethical by design if it is to protect people and their rights. To identify the ethical issues that cybersecurity/cybercrime might bring about in the future, we conducted the first broad and comprehensive horizon-scanning study since the COVID-19 pandemic arose. As we began this project, nobody had the slightest idea that the coming months would bring the COVID-19 pandemic, and that the reality we had known was about to change dramatically. As it soon became apparent, the deadly coronavirus brought completely new cybersecurity/cybercrime ethical dilemmas to light, and some of the ones known before were transformed or shifted. This article presents the results of our horizon-scanning study concerning the ethical dilemmas that emerged amid the COVID-19 pandemic.     

上市公司股东不可撤销表决权委托研究——问题、挑战与监管

表决权是上市公司股东参与管理决策的重要方式。证券监管实践表明,不可撤销表决权委托既有规避股份限售和减持规则的动机,也有出于增强控制权转让交易中博弈弹性的考虑。表决权委托并非一项简单的债权债务法律关系,其合规性及对证券市场的影响需引起足够的重视。为规范上市公司股东不可撤销的表决权委托,本文建议:在信息披露监管方面,重点关注表决权委托对权益变动、控制权稳定性、投资者保护的影响;在制度规范方面,发布表决权委托示范协议指引等规则,明确表决权委托的关键要素和监管要求。