Isolating the geodemographic characterisation of retail format choice from the effects of spatial convenience

The authors analyze the relationship between the geodemographic profile of consumers and retail format choice while accounting for the effects of spatial convenience. The proposed analytic model assumes that format choice is an implicit portion of store choice, such that a geodemographic profile functions as a determinant of format choice, and spatial convenience is a determinant of store choice. The results show that some geodemographic dimensions capture preferences for certain store formats and thereby facilitate retailers’ selection of geographic markets. The results also indicate that obviating the effect of spatial convenience may lead to biased estimations.     

Labor demand and trade reform in Latin America

Trade liberalization is thought to result in higher own-wage elasticities of labor demand, particularly for unskilled labor, with adverse implications for both labor market volatility and wage dispersion. The paper first argues that theoretically the link between liberalization and labor-demand elasticities is less clear than has previously been asserted. It then uses dynamic panel techniques to estimate labor-demand relations for manufacturing establishments in Chile, Colombia, and Mexico across periods of trade policy reform. The results do not strongly support the hypothesis that trade liberalization has a direct impact on own-wage elasticities.     

Asymmetric competition in retail store formats: Evaluating inter- and intra-format spatial effects

Our study aims to analyze the role of store format in retail competitive interactions, specifically, the relationship between growth, location strategy, and market response. To assess this relationship, we propose an extension of the classic models of spatial interaction, which incorporate the asymmetric competitive effects linked to the concept of store format. An empirical application allows us to confirm greater spatial rivalry within store formats (intra-format) than between store formats (inter-format). This implies a certain hierarchical organization when consumers select a retail store, first choosing the type of store at which they will shop and later a particular store within this format. The results are important for retailers who want to configure an optimal network of store locations as well as public administrators who must regulate commercial activity.     

Career Tournaments

This paper studies a model of career concerns where (besides agents having different ability levels) principals are heterogeneous. Two types of heterogeneity are considered: principals can differ in their productivities, and in the visibility of the agents working for them. Productivity differences result in convex wage profiles and generate assortative matching between principals and agents. Visibility differences, on the other hand, affect the mobility and career prospects of agents, and can generate nonassortative matching. We characterize the equilibrium in this market, derive implications for the behavior of agents, and examine the incentives to invest in increasing productivity and visibility.     

A parsimonious model to forecast financial distress,based on audit evidence

This paper provides evidence that audit reports convey relevant evidence for inferring the existence of underlying, unrevealed, financial imbalances. Unlike previous works, which studied US listed-firms bankruptcy, our research deals with Spanish non-financial SMEs under financial stress. Our results indicate that the audit of distressed SMEs has several distinctive features: higher auditor rotation, more qualified reports, and non-compliance with deadlines to approve and file the annual financial statements. We use this evidence to build and test a parsimonious and reliable forecast model. Several implications for auditors’ independence, information quality, and failure forecast are discussed.     

Reintegrating Ethics and Institutional Theories

Organizational ethics and institutional theories are extended by recovering Weberian and Pre-Weberian theorizing that emphasized the joining of ethics and institutional theories. Understanding how ethics and institutional systems influence each other can advance our understanding of the nature and causes of structural organizational ethics issues and help guide potential reforms. We consider the interplay of these elements during the recession of 2008–2009, highlighting how structural ethics problems may have to be addressed at the institutional levels and not solely the individual or organizational levels.     

Approaches towards a generic methodology for storage of hazardous energy carriers and waste products

Energy carriers – either conventional or ‘new’ ones – have to be provided in large amounts to meet the requirements of permanent availability and reliable supply of electricity. Depending on their state of aggregation, energy carriers are either stored in large masses (if solid or liquid) or at elevated pressures (if gaseous). Both impose the hazard of large-scale fire, in the latter case additionally the danger of explosion or unintended release. Very similar hazards occur for wastes. Solid wastes are present in large masses and only a small part is recycled. Most of the solid wastes are used in energy conversion. The main gaseous waste is CO₂. During capturing also the hazard of unintended release exists. In this article, existing approaches for safe storage and fire prevention are discussed and a generic methodology is outlined. This methodology consists of the following steps:

? gaining knowledge about the behaviour of the material stored (reactivity, thermal stability, etc.),

? assessing the environmental conditions for the storage site (neighbourhood, safety distances, etc.),

? assessment of prospective consequences of an incident and

? development of individual loss prevention conceptions.

All steps require both experimental testing and theoretical considerations about accident scenarios as integral parts of the methodology.     

The Institutional Foundations of Public Policy: A Transactions Approach with Application to Argentina

Public policies are the outcomes of complex intertemporal exchangesamong politicians. The political institutions of a country constitutethe framework within which these transactions are accomplished.We develop a transactions theory to understand the ways in whichpolitical institutions affect the transactions that politicalactors are able to undertake, and hence the quality of the policiesthat emerge. We argue that Argentina is a case in which thefunctioning of political institutions has inhibited the capacityto undertake efficient intertemporal political exchanges. Weuse positive political theory and transaction cost economicsto explain the workings of Argentine political institutionsand to show how their operation gives rise to low-quality policies.