Has the guest arrived yet? Emmanuel Levinas,a stranger in business ethics

To what extent can business ethics be ‘hospitable’ to Levinasian ethics? This paper raises questions about how business ethics relates to its guests, in this case the guest called ‘Levinas’; the idea of introducing or inviting the work of an author into a field, as its guest, is by no means a simple problem of transference. For Jacques Derrida, there is hospitality only when the stranger's introduction to our home is totally unconditional. Such a conceptualisation of hospitality becomes even more demanding when the ‘stranger’ that is near our ‘home’ is an ethics also demanding hospitality, such as the ethics proposed by Levinas. An invitation puts in place particular circumstances that allow only for an arrival of the one invited. These conditions precede the so‐called stranger, thereby predetermining the route to be taken, the destination to be reached and the correct manner of self‐presentation. An invitation already reduces the Other to that which is expected by the inviter, that is to the Same. The hospitality of the field of business ethics becomes an endorsement of a particular version of the stranger, therefore recognisable by the field. Perhaps conceptualising Levinasian ethics as an ethics that cannot be invited might protect it from procedures that reduce the ‘strangeness’ of the stranger, making it knowable. That is the argument presented in this paper.     

Nonstandard work arrangements and configurations of firm and societal systems

In this study, we proposed and empirically confirmed that the use of nonstandard working arrangements (NSWAs) varies according to firm system and societal cluster. Utilizing the configurational, institutional and cultural perspectives, we explored antecedents to the use of four NSWAs across firms in six countries, expanding the scope of variables examined in relation to NSWAs and capturing context as a way of broadening the theory base on the subject. We found a tendency toward greater use of NSWAs among firm systems that foster internal socialization and career advancement over time as well as national contexts that promote employment protection and/or Institutional Collectivism. Finally, we found national context to be a significant determinant of firm system, reinforcing the importance of aligning national with organizational-level antecedents to the study of NSWAs.     

Institutional duality and human resource management practice in foreign subsidiaries of multinationals

We examine how institutional context affects the decisions that subsidiaries of multinational corporations (MNCs) make in pursuing particular human resource management (HRM) practices in response to institutional duality. Drawing on Varieties of Capitalism, along with the concept of intermediate conformity, we argue that the use of particular HRM practices by MNC subsidiaries will differ depending on both the combination of home and host institutional contexts, and on the nature of the particular practice under consideration. Using data from a survey of HRM practices in 1196 firms across 10 countries, we compare HRM practices in subsidiaries located and headquartered in different combinations of liberal and/or coordinated market economies. Our study suggests MNC subsidiaries conform only to the most persuasive norms, while exercising their agency to take advantage of the opportunities presented by institutional duality to adopt practices that distinguish them from indigenous competitors.     

A Multi-level Perspective for the Integration of Ethics,Corporate Social Responsibility and Sustainability (ECSRS) in Management Education

In recent years, much discussion has taken place regarding the social role of firms and their responsibilities to society. In this context, the role of universities is crucial, as it may shape management students’ attitudes and provide them with the necessary knowledge, skills and critical analysis to make decisions as consumers and future professionals. We emphasise that universities are multi-level learning environments, so there is a need to look beyond formal curricular content and pay more attention to implicit dimensions of the learning process in order to create significant learning. With this in mind, we propose an integrative and holistic approach to guide the integration of ethics, corporate social responsibility and sustainability in management education that aims to improve students’ knowledge and attitudes. In this model, we consider three interdependent levels of analysis–the institutional level, the curricular level and the instrumental level–which together produce a leverage effect on student learning. For each level, we identify the main issues and aspects that need to be considered, based on an extensive literature review in this field.     

The Impact of Inheritance on the Distribution of Wealth: Evidence from Great Britain

Using the British Household Panel Survey, we investigate the role of inheritance in shaping the distribution of household wealth in Great Britain during 1995–2005a period characterized by a substantial increase in wealth and an equally important decrease in wealth inequality. Abstracting from behavioral effects, we find that inheritances received during this period accounted for 30 percent of the increase in wealth of inheritors. Regression estimates of the effect of inheritance on wealth accumulation suggest that households spend 30 percent of their inheritances on average, and that there is substantial heterogeneity in household responses. Households that accumulated more wealth saved a larger share of their inheritances, as did middle aged households and those with lower initial wealth. Although inheritances are highly unequal they had a small impact on overall wealth inequality. This mainly reflected the fact that their size relative to other sources of wealth was very small.     

Antitrust Enforcement in Europe in the Last 25 Years: Developments and Challenges

Review of Industrial Organization - We review all of the main developments that have influenced the way in which antitrust has been enforced in Europe in the last 25 years. We also provide...     

Block trades in options markets

Block trading, which was sparse before the reduction of the minimum permissible block size threshold in October 2012, currently accounts for about 30% of the trading volume in WTI crude oil options. Block orders share similar characteristics to those routed at the pit, but they have lower information content and face higher execution costs, due to high search costs. However, our results show that such block orders would have been costlier to execute at the pit, which suggests that some pit order flow may have migrated to the upstairs market, contributing to the eventual demise of energy options pits.     

National differences in entrepreneurial networking

The paper reports findings of a study into the personal contact networks of Greek entrepreneurs, and compares these to results already published for other countries (Canada, Japan, Italy, Northern Ireland, Sweden, the UK, and the USA). Findings show that generic behaviour across borders cannot be assumed, although similarities exist in the under-representation of women as network members, the average age of network contacts, duration of relationships, and average monthly meetings. A clear example has also been provided of a culture where business networks are very deeply embedded in social structures, and where little or no evidence of an instrumentalist neo-classical model can be found. From a theoretical perspective, adaptation of Hofstede's four-dimensional model provides a generally robust interpretive framework for the results.     

Financial openness, financial frictions and optimal monetary policy

Increasing financial integration challenges the optimality of inward-looking strategies for optimal monetary policy. Those issues are analyzed in an open economy where foreign net lending, and the current account, are determined by a collateral constraint. Durables represent collateral. The current account features persistent imbalances, but can deliver a long run stationary equilibrium. The comparison between floating and managed exchange rate regimes shows that the impossible trinity is reversed: higher financial integration increases the persistence and volatility of the current account and calls for exchange rate stabilization. In this context, the Ramsey plan too prescribes stabilization of the exchange rate, alongside with domestic inflation.