The Relationship Between Acculturation,Individualism/Collectivism,and Job Attribute Preferences for Hispanic MBAs*

ABSTRACT This research studied the influence of acculturation on the values of Hispanic MBAs in the USA and the effect these values have on job attribute preferences. As predicted, the less acculturated Hispanic MBAs had significantly higher collectivist values than either highly acculturated Hispanic or Anglo‐American MBAs. Surprisingly, acculturation was not related to individualism. As theorized, collectivistic, and not individualistic, values were significantly related to a preference for contextual job attributes. In contrast, individualistic, and not collectivistic, values were related to a preference for task‐related job attributes. The findings point to the importance of understanding an individual's level of acculturation and his/her specific values, rather than assuming differences based on ethnicity. In addition, the findings indicate that managers dealing with diversity within the USA or globally must understand their employees’ individualistic/collectivistic values before implementing any job design initiatives.     

Effects of Geographical Stratification in a Farm Accountancy Data Network on the Accuracy of the Estimates

This study analyses the effects on the accuracy of the estimates produced by an additional stratification of a sample, in this case the sample of the Farm Accountancy Data Network (FADN) of Navarra. This is carried out by studying the accuracy of the total standard gross margin estimator. For the analysis, the variances of the estimator were compared for two samples: one stratified according to type of farming and economic size, and the other with the addition of a geographical stratification. The conclusion of the analysis is that for samples whose size is similar to that of the FADN of Navarra (400 farms), accuracy is not improved by a geographical stratification. This result, a particular case in which stratification does not improve the accuracy of the estimates, may be clarified by the theoretical considerations expounded in this paper.     

Neutral carbon tax and environmental targets in Brazil

We evaluate the effects of a carbon tax in the Brazilian economy using an input–output framework. First, we consider the impacts of a carbon tax of US$ 10 and US$ 50/metric ton of CO₂ equivalent. As usual, the adoption of the carbon tax generates adverse effects on GDP, wages and jobs in the short term, but reduces emissions and generates new government revenues, especially in the case of the greater tax. Second, we consider a broader tax system reform. In this reform, we replace distortionary taxes by a tax on value added. To compensate for the loss of government revenue, we assume a carbon tax with equivalent revenue. We find that the net effect is a GDP increase of 0.47%, the creation of 533 thousand jobs and reduction of 1.6 million tons of CO₂ emissions. Both scenarios exempt exports and levy imports to correct adverse effects on the country’s competitiveness.     

中国与拉丁美洲贸易回顾与展望

中国与拉丁美洲经贸关系的发展可分为中国入世前和入世后两个阶段。中国入世前,双边关系发展较为平缓,而入世后,经贸发展急剧增加,贸易的产品比较多样化,产业间贸易特点明显,即中国主要出口技术含量低的工业品,而进口初级产品和资源性产品,中国与南美洲多处于逆差状态,原因在于互补贸易的特点较为明确,而与墨西哥及加勒比海地区由于出口产品相似性,相互竞争拉美市场和第三国市场。展望未来,双边贸易发展仍将扩大,拉美国家由于中国进口的增加,贸易环境将改善;同时,在制成品领域,贸易壁垒愈显突出;双边投资将扩大。     

The relative weight of manufacturing and services in Europe: An innovation perspective

This paper uses an innovation-based taxonomy of both manufacturing and service industries to assess the role of the process of structural change of the last 25 years on the rate of productivity growth in Europe, US and Japan. The empirical analysis exploits the shift-share methodology for a decomposition of aggregate labor productivity growth. A modified version is applied, that allows to interpret whether employment has shifted to higher or lower productivity sectors. The results are discussed in light of the role that the different industries play according to the innovation-based taxonomy.     

A Value-based Framework for Understanding Managerial Tolerance of Bribery in Latin America

The cross-cultural literature is reviewed and integrated together with attitude theories, thereby outlining a model through which certain values influence the intervening variables that ultimately lead managers to tolerate employee bribery. The case of Latin America is employed to illustrate how regionally dominant cultural values may shape managers’ attitudes, subjective norms, and perceived behavioral control, which in turn affect tolerance of employee bribery. A series of research propositions and practical recommendations are derived from the model.     

Investing for the Long-run in European Real Estate

We calculate optimal portfolio choices for a long-horizon, risk-averse investor who diversifies among European stocks, bonds, real estate, and cash, when excess asset returns are predictable. Simulations are performed for scenarios involving different risk aversion levels, horizons, and statistical models capturing predictability in risk premia. Importantly, under one of the scenarios, the investor takes into account the parameter uncertainty implied by the use of estimated coefficients to characterize predictability. We find that real estate ought to play a significant role in optimal portfolio choices, with weights between 12 and 44%. Under plausible assumptions, the welfare costs of either ignoring predictability or restricting portfolio choices to traditional financial assets only are found to be in the order of 150–300 basis points per year. These results are robust to changes in the benchmarks and in the statistical framework.      

Growing like mushrooms? Sectoral evidence from four large European economies

This paper follows a stream of literature on the empirics of sectoral growth rates, originated by Castaldi and Dosi (Income levels and income growth. Some new cross-country evidence and some interpretative puzzles. LEM Working Paper 2004-18, Sant’Anna School of Advanced Studies, Pisa, Italy, 2004) on two-digit international manufacturing and service sectors, and by Sapio and Thoma’s (The growth of industrial sectors: theoretical insights and empirical evidence from U.S. manufacturing. LEM Working Paper 2006-09, Sant’Anna School of Advanced Studies, Pisa, Italy, 2006) study on four-digit U.S. manufacturing industries. Our aim is to discuss the statistical properties of growth rates in light of a ’mushroom vision’ of growth. In our analysis, we focus on the growth of value added in NACE five-digit sectors in France, Germany, Italy and the United Kingdom between 1995 and 2003. We find that the volatility of sectoral growth rates is negatively correlated with sectoral size, according to a power law, but with steeper slopes than for firms and U.S. sectors. Rescaled sectoral growth rates are well-described by a Laplace distribution in most years. The outcomes of this statistical analysis provide a further empirical foundation to a view of sectoral growth, wherein inter-firm correlations, market concentration, and inter-sectoral feedbacks play a major role.     

Fragmented networks and transnational entrepreneurship: Building strategies to prosper in challenging surroundings

Transnational entrepreneurship studies highlight the importance of personal profiles, institutions, and networks in creating and succeeding in this type of entrepreneurship. Even so, less is known about migrants whose networks are fragmented and closed, facing challenging environments at home and abroad. This paper aims to study the attributes of transnational entrepreneurs with small and fragmented networks, from post-conflict environments, who can perform an important role in the socioeconomic development and internationalization level of their countries of origin due to the cross border mobilization of resources they encourage. For that reason, the specific case of Colombian transnational entrepreneurs who have been able to overcome those obstacles with their transnational business is analyzed with the intention of understanding how they manage those shortcomings when engaging in transnational entrepreneurship. In aiming to obtain a deeper understanding of their characteristics, similitudes, differences, and motivations, the research uses multiple case studies. The main findings suggest that transnational entrepreneurs form purposeful–strategic networks to compensate their lack of amalgamated social systems, and that they have special qualities that distinguish them from other Colombian migrants and transnational entrepreneurs. Moreover, Colombian transnational entrepreneurs focus their business in the international market, using strategically their knowledge of both the local and foreign environment, while their main interest to do so is not altruistic but business oriented. Governments from post-conflict countries should promote transnational entrepreneurship while facilitating network formation and institutional trust through diverse strategies. Finally, implications for further research are drawn.