Legal Protection,Corruption and Private Equity Returns in Asia

Although trustworthiness has been described as a source of competitive advantage, its value extends to organizational governance and wealth creation. We identify the importance of the commitment–compliance continuum in the decision to trust and note that trustworthiness is a subjective perception viewed through each person’s mediating lens. That lens and each person’s interpretation of the social contract impact one’s commitment to cooperate. We suggest five propositions that integrate trustworthiness, governance, and wealth creation.     

Foreign investment, reparations and the proposal for an international bank: notes on the lectures of J M Keynes in Geneva, July 1929

Keynes's lectures to the Geneva School of International Studiesprovide substance to the intellectual linkages between the Cambridgedon and economists working in international economic agenciesduring the inter-war period. Keynes was keenly sought afteras a policy adviser; as the notes to these lectures indicate,he provided his audience with theoretical insights into thepressing issues of the day - reparations and the transfer problem,the economic foundations of the Dawes and Young Plans, and proposalsfor an international bank.     

‘Down with Big Brother!’ The End of ‘Corporate Culturalism’?

Hugh Willmott's classic 1993 JMS article, ‘Strength is Ignorance; Freedom is Slavery’, has greatly influenced how we understand culture management. It draws parallel's with George Orwell's Nineteen Eighty‐Four to reveal the totalitarian aspirations of ‘corporate culturalism’. While it is sometimes said that employee resistance is missing in Willmott's account, I argue that it is implicitly pervasive, prefiguring subsequent investigations of ‘micro‐emancipation’ in management studies. The recent waning of scholarly interest in this type of resistance, however, also points to the contemporary relevance of Willmott's analysis. Emergent forms of corporate regulation utilize ‘biopower’ rather than just cultural conformity, rendering micro‐emancipation inadequate, but inspiring other types of dissent.     

The Escalation of Deception in Organizations

Drawing on a number of recent high-profile cases of corporate corruption, we develop a process model that explains the escalation of deception in corrupt firms. If undetected, an initial lie can begin a process whereby the ease, severity and pervasiveness of deception increases overtime so that it eventually becomes an organization level phenomenon. We propose that organizational complexity has an amplifying effect. A␣feedback loop between organization level deception and each of the escalation stages positively reinforces the process. In addition, moderators are proposed that will halt escalation at various stages. By conceptualizing corporate deception as a social process, the paper contributes to a growing body of research that looks beyond 'bad' individuals for the causes of corporate illegality. Peter Fleming is Professor of Work, Organization and Society Queen Mary College, University of London. He has held academic positions at Cambridge University and Melbourne University. His research interests center on the emerging politics of power, control and ethics in contemporary corporations. He has published extensively in academic journals including Organization Studies, Journal of Management Studies, Journal of Business Ethics, Sociology, Sociological Review, Work, Employment and Society and has just published a book (with Andre Spicer) entitled Contesting the Corporation: Power, Resistance and Struggle in Organizations with Cambridge University Press (2007). Stelios Zyglidopoulos is a University Lecturer in Strategy at the Judge Business School of the University of Cambridge. Prior to that, he taught at Erasmus University in the Netherlands, and the Rochester Institute for Technology, in Rochester, NY. He received his PhD in Strategy and Organization from McGill University in Montreal, Canada. Dr. Zyglidopoulos has lived and worked in Greece, Canada, The Netherlands, and the United States. He has a number of years of business experience, mostly in sales and marketing, and is a reservist for the Greek Navy. His research interests focus on the management of corporate reputation; the evolution of corporate social performance; imprinting and organizational evolution; and the internationalization process of high-tech clusters.     

The effects of work-in-process inventory considerations on learning curve construction

Learning curves have been used since the 1930' s as a tool to aid in the functions of cost estimating and production planning / control. While there has been much data collected to construct learning curves for airplanes, extensive coll ection of data to construct curves for electronic equipment has been limited. Further, virtually all published analyses to date have implicitly ignored the effects of work-in-process inventories on curve construction.This paper examines these effects through the historical construction of learning curves using actual industrial data. Work-in-process effects are considered through the use of linear and bilinear manufacturing progress functions. Degradation in the accuracy of curve construction is determined through the completion of a sensitivity analysis considering varying degrees of work-in-process activity. The results of the analysis show that work-in-process consideration affects the improvement curve percentage obtained. The method of work-in-process consideration is found to be less critical than the basic inclusion of this parameter in curve construction by one of several straightforward mathematical methods.     

The Impact of Perceived Organizational Support on Self-Directed Learning in Sales Training

Perceived organizational support has a positive influence on the willingness of salespeople to use self-directed learning (SDL) projects. These SDL projects can be tailored to fit a salesperson's distinct learning needs, to increase performance, and to achieve the overarching goals of collaborative members of a marketing channel. Hence, it is beneficial for channel members to create a supportive learning culture that promotes the use of SDL projects by salespeople. Salespeople within the insurance industry play an essential role inside their marketing channel. Data collected from 392 insurance salespeople in over 170 firms is used to empirically test how perceived organizational support influences the use of two types of SDL projects. Salespeople encouraged to use elective SDL projects reported higher levels of performance than those required to use compulsory SDL projects.     

Estimating the time involved in managing the 'unoccupied bed:' a time and motion study

Occupied bed days are often used as a demand indicator when calculating the number of nurses required to provide safe care. However, such calculations fail to take into account the amount of nursing time consumed by the "unoccupied bed." This study used direct observation time-and-motion methods to estimate the time and costs associated with a bed that is unoccupied. The average time taken to complete all of the activities associated with a bed that was unoccupied due to an internal transfer was 8.65 minutes, for a patient discharge 26.27 minutes, and for a patient admission 37.7 minutes. An average daily cost for activities surrounding these patient movements was approximately $386/day (AUD) in registered/enrolled nursing salaries alone. The unoccupied bed is not resource neutral and time associated with its maintenance should be considered when calculating nursing requirements to provide safe care.     

Long memory in volatility and trading volume

We use fractionally-integrated time-series models to investigate the joint dynamics of equity trading volume and volatility. Bollerslev and Jubinski (1999) show that volume and volatility have a similar degree of fractional integration, and they argue that this evidence supports a long-run view of the mixture-of-distributions hypothesis. We examine this issue using more precise volatility estimates obtained using high-frequency returns (i.e., realized volatilities). Our results indicate that volume and volatility both display long memory, but we can reject the hypothesis that the two series share a common order of fractional integration for a fifth of the firms in our sample. Moreover, we find a strong correlation between the innovations to volume and volatility, which suggests that trading volume can be used to obtain more precise estimates of daily volatility for cases in which high-frequency returns are unavailable.