Assessing dimensions of organizational trust across cultures: A comparative analysis of U.S. and Indian full service hotels

This study delves into the organizational trust based similarities and differences across “individualist” and “collectivist” service employees in hotels. Specifically, the three dimensions of organizational trust, i.e., integrity, commitment and dependability are compared across the two samples from the U.S. and India to highlight how employees perceive the level of each of the three dimensions across cultures. Findings suggest that the three dimensions represent the trust construct across different national cultures. However, in comparing the individual dimension of the trust construct, a significant difference exists between the perceptions of employees in the two cultures, suggesting that perception-based differences exist across cultures.     

Calibrating CAT Bonds for Mexican Earthquakes

This article examines the calibration of a real parametric catastrophe bond (CAT bond) for earthquakes sponsored by the Mexican government, which is of a high interest as it delivers several policy‐relevant findings. The results demonstrate that a combination of reinsurance and CAT bond is optimal in the sense that it provides coverage for a lower cost and lower exposure at default than reinsurance itself. A hybrid CAT bond for earthquakes is also priced in order to reduce the basis and moral risk borne by the sponsor and to reflect the value of the loss by several variables.     

The Mis-Match of Expectations and Tools in Transition Economies

The fall of the former Soviet Union and the opening of the countries of Eastern Europe has prompted examination of why central planning failed, why capitalism with all its faults is succeeding, and what actions and institutions are necessary to move command economies toward successful, sustainable market economic systems. As they privatize State Owned Enterprises (SOE's) expectations are that the companies will function with the success experienced by western companies. Governments hope to derive tax revenue from company profits and expect companies to provide jobs. Effecting the change is, however, far greater than changing the name plate on the door. Transition success will hinge upon institutional and infrastructure changes that need to be wide-spread.The ethical quagmire is that without changes in the infrastructure of the command economy system private enterprise is doomed to fail. Governments will then be deprived of the anticipated revenue streams emanating from businesses. Governments may then not be able to fulfill the economic and social expectations of their citizens. This would be not only counter-productive for businesses and government but also confusing and bewildering to the general populous. This paper explores structural impediments in transition economies and discusses how each blocks and distorts the formation of a true market economy.     

Management caveats for measuring and assessing public responsibility performance

More and more, stakeholders are demanding company performance information in the areas of public responsibility. Unfortunately, as companies report these activities, stakeholders, rather than being satisfied, are increasingly demanding additional information. Management is then left wondering why actions meant to satisfy lead instead to greater dissatisfaction. Often, managers do not understand what steps to take in developing good measurement and assessment plans and communicating performance results. This article presents fourteen caveats in a checklist for managers to use as they go through this process. Recommendations for deciding what to measure, developing and interpreting appropriate metrics, setting benchmark standards, building learning systems, developing policies for inclusion of external stakeholders, and communication are given.     

A Socioeconomic Perspective

By combining an economic perspective on financial instability with a sociological analysis of collective behavior, this paper lays out a conceptual foundation that is suggestive of a fuller understanding of speculative manias and financial panics in highly liquid financial assets. The paper argues that a collective enthusiasm develops in an environment of "optimistic uncertainty" created by the gradual diffusion of a revolutionary innovation of the type examined by Rosenberg. An adaptation of Simmel's theory of fashion in the emerging norm framework of Turner and Killian explains the swell of speculative excitement. Once started, the enthusiasm continues in a Schumpeterian manner until the objective potential of the innovation becomes apparent and estimable. If the contemporaneous degree of optimism proves unfounded and prices too high to sustain, a reversal of fortune ushers in distress that may inspire panic. A panic, contrary to implications of extant economic theory, does not necessarily follow a period of extreme speculative enthusiasm. This paper suggests instead, in light of Lang and Lang's analysis of collective dynamics, that certain objective market conditions create a panic in a distressed environment.     

Special marketing problems of smaller-city retailing

The purpose of this article is to review and assess the special marketing problems of smaller-city retailing. A better understanding of the problems peculiar to small-city retailing is prerequisite to the assessment of opportunities and formulation of strategies. The article traces the recent evolution of the retail trade structure in the small city. Distinctive characteristics of the nonmetropolitan market setting are discussed. The role of the small store, its relationship with new retail competitors, and other strategic issues and implications are considered.     

从学前教育中掘金 需寻找“中间力量”

伴随着第四波婴儿潮的到来，全国学前教育总市场约为500亿，且在不断增长中。创业投资者们看到其中巨大利润空间，却苦于没有找到合适模式进入——直营还是加盟，应试教育还是素质教育，面授课堂还是网络学习？     

The Influence of Regular Work Systems on Compensation for Contingent Workers

Using data from a nationally representative survey of U.S. establishments, this article explores how features of regular work influence outcomes for contingent workers. The results show that firms combine regular and contingent work in varied ways: Some managers design contingent work to achieve performance objectives not possible with the regular workforce, whereas managers in other cases create contingent jobs to reinforce the same goals as regular work. In the latter case, contingent workers are more likely to be integrated with regular workers and to receive benefits. Benefit provision for contingent workers is also influenced by traditional internal labor market rules and by spillover effects in which efficiency or regulatory requirements lead benefits to be extended to contingent staff once offered to regular workers.