‘A Comparison of the Contents of the Codes of Ethics of Canada’s Largest Corporations in 1992 and 2003’

This paper compares the findings of content analyses of the corporate codes of ethics of Canada’s largest corporations in 1992 and 2003. For both years, a modified version of a technique used in several other studies was used to determine and categorize the contents of the codes. It was found, inter alia, that, in 2003, as in 1992, more of the codes were concerned with conduct against the firm than with conduct on behalf of the firm. Among the changes from 1992 to 2003 were a significant increase in the frequency of mention of environmental affairs, legal responsibility as the basis of codes and enforcement/compliance procedures.     

A Cross-Cultural Examination of the Endorsement of Ethical Leadership

The western-based leadership and ethics literatures were reviewed to identify the key characteristics that conceptually define what it means to be an ethical leader. Data from the Global Leadership and Organizational Effectiveness (GLOBE) project were then used to analyze the degree to which four aspects of ethical leadership – Character/Integrity, Altruism, Collective Motivation, and Encouragement – were endorsed as important for effective leadership across cultures. First, using multi-group confirmatory factor analyses measurement equivalence of the ethical leadership scales was found, which provides indication that the four dimensions have similar meaning across cultures. Then, using analysis of variance (ANOVA) tests each of the four dimensions were found to be universally endorsed as important for effective leadership. However, cultures also varied significantly in the degree of endorsement for each dimension. In the increasingly global business environment, these findings have implications for organizations implementing ethics programs across cultures and preparing leaders for expatriate assignments. Christian J. Resick is Assistant Professor of Industrial and Organizational Psychology at Florida International University. His research is aimed at understanding how people interact with and influence various aspects of their work environments, including cultures, climates, leaders, and teammates along with the implications for various aspects of organizational behavior. A particular focus of Christian’s work examines ethical leadership and the critical linkages between leadership and organizational ethics. He received his Ph.D. from Wayne State University. Paul J. Hanges is a professor in the Department of Psychology at the University of Maryland and the head of the Industrial/Organizational Psychology program in the department. He is an affiliate of the Cognitive Psychology program and the R. H. Smith School of Business. Paul’s research focuses on three topics (a) social cognition, leadership, and cross-cultural issues; (b) personnel selection, test fairness, and racial/gender discrimination; and (c) research methodology. He is on the editorial board of the Journal of Applied Psychology and The Leadership Quarterly and is a fellow of the Society of Industrial and Organizational Psychology and the American Psychological Association. Marcus W. Dickson is Associate Professor of I/O Psychology at Wayne State University in Detroit. His research generally focuses on issues of leadership and culture (both organizational and societal), and the interaction of those constructs. He is a former Co-Principal Investigator of the GLOBE Project, and his work has appeared in Journal of Applied Psychology, Applied Psychology: An International Review, and The Leadership Quarterly, among others. Jacqueline K. Mitchelson is a doctoral candidate in Industrial and Organizational Psychology at Wayne State University. Her current research areas are leadership, organizational culture, individual differences and work-family conflict.     

Does Good Governance Matter to Institutional Investors? Evidence from the Enactment of Corporate Governance Guidelines

Corporate governance guidelines are a mechanism that a firm can enact which should reduce agency costs and better align the interests of boards and the suppliers of capital. This study examines stock price reactions primarily attributable to institutional investors occurring when corporations announce the enactment of corporate governance guidelines. A final sample of 77 firms was derived from the first announcement of corporate governance guidelines exclusive to the SEC-EDGAR database. The results indicate that good governance does matter. Firms that announced the enactment of corporate governance guidelines experienced increased stock prices following the announcements. There was an immediate (days 1–4) reaction for firms that provided all or part of the guidelines’ substance; a delayed (days 8–10) reaction occurred for those firms that only referenced the guidelines’ enactment. Additionally, firms with either a potentially greater following or that had a previous history of acrimonious relations with stakeholders were rewarded by the announcement of the enactment of guidelines.     

SME internationalization and performance: Growth vs. profitability

Lu and Beamish (2001) examined the effect of two internationalization strategies, exporting and foreign direct investment (FDI), on SME performance (ROA). We extend this research by examining the differential effects of these strategies on two other dimensions of SME performance: growth and ROS. We develop and test four sets of hypotheses using a sample of 164 Japanese SMEs. We find that exporting activity has a positive impact on growth, but negative impact on profitability. FDI activity has a positive relationship with growth, but a U curve relationship with profitability. Exporting activity has a positive moderating effect on the relationship between an SME’s FDI activity and firm growth, a negative moderating effect on the relationship between an SME’s FDI activity and firm profitability. An SME’s age when it starts to make FDIs has a negative moderating impact on the relationship between FDI and firm growth and profitability.     

Das Erneuerbare-Energien-Gesetz und die Industriestrompreise

Die herrschende Meinung geht davon aus, dass durch die Umlage der F?rderung nach dem Erneuerbare-Energien-Gesetz (EEG) auf die Letztverbraucher die Strombezugskosten der Unternehmen steigen und ihre Wettbewerbsf?higkeit sinkt. Wie setzt sich der Strompreis zusammen und wovon ist die Strompreisbildung abh?ngig? Welche Wirkung hat das EEG auf den Gro?handelsstrompreis?     

The 99 price ending as a signal of a low-price appeal

There is evidence that the rightmost digits, or endings, of retail prices can communicate meanings to consumers. To better understand how such meanings are formed, this paper addresses the question of how the 99 price ending can have a low-price meaning even though 99-ending prices tend to be higher rather than lower competitive prices. Analysis of two large samples of newspaper price advertising indicates that there is a strong and robust correlation between the use of the 99 price ending and the presence of a low-price appeal such as a claimed discount. It is suggested that the salience of price advertising leads it to dominate other sources of information in the consumer's learning of price-ending meanings.     

Severity of alcohol-related motor vehicle crashes in British Columbia: case - control study

The objective of the present study was to compare the injury severity and vehicle damage severity rates of alcohol-related crashes with rates of non-alcohol-related crashes in British Columbia (BC). Injury severity rates and vehicle damage severity rates were taken from 2002 Insurance Corporation of British Columbia traffic collision data. The data were computed in order to compare the differences in injury severity and vehicle damage severity rates of alcohol-related vs. non-alcohol-related motor vehicle crashes. Case - control methods were used in this study to analyse the risk of alcohol-related crashes compared to non-alcohol-related crashes in BC. Odds ratios (OR) and 95% CI were calculated to estimate relative risks. In the case - control analysis, the risk of fatal collision was increased for those drinking and driving compared with those driving sober (OR 4.70; 95% CI 3.15 - 7.01). Risk of injury collision was increased for those drinking and driving compared with those driving sober (OR 1.32; 95% CI 1.19 - 1.37). Importantly, the risk of vehicle damage severity was increased for those drinking and driving compared with those driving sober (write-off vehicle OR 4.24; 95% CI 3.70 - 4.86, severely damaged vehicles OR 1.98; 95% CI 1.77 - 2.21). The study reinforces existing literature to suggest that current evidence is sufficient to show an increased risk of injury and fatality to drivers and occupants in alcohol-related crashes. This paper not only emphasizes this well-known relationship, but also such consequences as increased vehicle damage severity. The connection between drinking and severity of motor vehicle crashes is popularly believed and has now received substantial scientific support. There is strong justification for injury prevention experts and policy-makers to step up motor vehicle crash injury prevention advocacy by implementing evidence-based policies to reduce rates of alcohol-impaired driving in the province of BC. Most unintentional injuries in BC are related to motor vehicle crashes. Significant improvements can be made in these statistics by: increasing the use of occupant protection (safety belt and child restraint seats); reducing alcohol-related injuries through multiple strategies including corrections in the physical environment, extensive enforcement of drinking and driving laws and health promotion/education.     

Qualitative Insights into the International New Venture Creation Process

This paper adopts a qualitative approach to uncover the experiences of founders of international new ventures or born global firms. The data which are based on in-depth interviews, focus on the major characters, events and surrounding conditions from the time the firm is conceived until it becomes involved with foreign markets. From these data, the major elements contributing to the creation of an international new venture are identified.     

EC Competition Law After Modernisation: More than Ever in the Interest of Consumers

In this paper it is argued that even though the consumer cannot (anymore) be reduced to a homo oeconomicus, competition law is the cornerstone of consumer law and that the decentralised application of EC competition law since 1 May 2004 (pursuant to Regulation 1/2003) gives new opportunities for an effective application of the EC competition rules to the benefit of consumers. While the EC Treaty (and the future Constitution for Europe) aim to protect consumers in the framework of the internal market programme, as well as on the basis of a genuine consumer protection policy, it is submitted that an effective competition policy remains crucial for consumers in a market economy. Consumer interests are generally diffuse and therefore difficult to protect via legal procedures. Nevertheless a further development of remedies which are already available in Community law (nullity of restrictive agreements, claims for damages, actions for a cease and desist order, and so on) will contribute to an increased application of the competition rules in the interest of consumers.