Socio-demographics,political attitudes and informal sector employment: A cross-country analysis

In this paper, we empirically investigate the relationship between informal sector employment and micro-level socio-demographic characteristics, political acts and attitudes, and individual norms. Using self-reported individual micro-level data from the World Values Survey for seven developing countries (China, Ecuador, Egypt, Mexico, Peru, South Africa and Yemen), our cross-country regressions and principal component analysis reveal that socio-demographic characteristics of individuals are strong predictors of their informal sector employment. Our estimations further document that individual preferences for an economically strong, interventionist and egalitarian state and confidence in state and political institutions are positively and significantly correlated with informal sector employment, whereas variables associated with confidence in free market institutions and support for competition are negatively and significantly correlated with informal sector employment. We also show that individuals who participate either actively or inactively in peaceful and lawful political processes are significantly less likely to work in the informal sector. Finally, we document that individual norms, such as religiosity and tax morale, are negatively correlated with informal sector employment. Throughout our analysis, instead of having to rely on ad-hoc informality categorizations of third parties, we base our measurement of informal sector employment directly on the self-evaluation of individuals, who have the best information on the degree of their informality.     

TAXES,REGULATIONS AND THE CORPORATE DEBT MARKET*

Outstanding credit market debt in the U.S. corporate sector increased dramatically over the second half of the 20th century. During this period, tax rates on dividend distributions and corporate income decreased. This article argues that the observed decline in dividend and corporate income tax rates generated an improvement in the collateral value of corporate assets and led to an increase in U.S. corporate debt. To analyze this conjecture, we build a general equilibrium model with enforcement constraints that induce endogenous limits on debt financing. We find that the model can account for the time‐series features of U.S. corporate debt data.     

Skill-biased technological change and homeownership

In the United States, the residential housing market went through important changes over the period from the 1970s to the mid-1990s. Although the aggregate homeownership rate was relatively stable during that period, the distribution of homeownership rates by age changed in remarkable ways. While younger households saw substantial declines in homeownership rates, the opposite happened for older households. In this paper, we argue that the skill-biased technological change (SBTC) that began during the 1970s has been an important factor behind the observed change in the distribution of homeownership rates by age. We build a life cycle model in which skills are accumulated on-the-job through experience: learning by doing. Early in life, households have lower levels of skills and therefore lower earnings. SBTC increases the returns to skill, widening the wage gap between young and old ages. As a consequence, it takes more time for young households to become homeowners given frictions in financial markets (e.g. downpayment requirements) and housing markets (e.g. large and indivisible houses), in line with consumption smoothing behavior. On the other hand, older households that could not afford a house before may now become homeowners, given higher returns to skill. Our analysis confirms this conjecture, namely, that SBTC shifts the distribution of homeownership from the young to the old.     

Role stress,burnout and their effects on frontline hotel employees' job performance: evidence from Northern Cyprus

Based on data obtained from frontline hotel employees in Northern Cyprus, this study investigated the effects of role stress and burnout on job performance. It was found that role ambiguity decreased job performance while role conflict enhanced job performance. The results indicated that diminished personal accomplishment exerted a significant negative influence on job performance whereas the rest of the burnout dimensions did not. The results further showed that both role conflict and ambiguity exacerbated emotional exhaustion and depersonalisation. Role ambiguity was found to have a significant positive relationship with diminished personal accomplishment whereas role conflict was not. Copyright © 2007 John Wiley & Sons, Ltd.     

A yield management model for five-star hotels: Computerized and non-computerized implementation

The purpose of this study was to propose an enhanced yield management (YM) model that was developed based on the previous models and to test the applicability on five-star lodging properties in Turkey to identify the related problems. The proposed model overcomes some of the limitations of previous ones. It was specifically developed for full service, upscale hotels, namely for five-star lodging properties with or without a computerized yield management system (CYMS). Examination of the actual implementation stages provided useful insight in determining the applicability and the problems related to the application of the model. Findings indicted that the proposed YM model can be used by all upscale properties (with or without a CYMS) to manage their revenue and yield. Findings suggested that the application of the model is likely to improve the operational and financial performance for both type of properties.     

Relative Responsiveness of Trade Flows to a Change in Prices and Exchange Rate

A country can restrict her imports by imposing tariffs and stimulating her exports by providing subsidies. The same goal could be achieved through devaluation. One policy question that we face is the time it takes for either policy to affect the trade flows. We investigate here the relative responsiveness of the trade flows to a change in relative prices versus to a change in exchange rate. After estimating an error-correction version of import and export demand functions for nine industrial countries, unlike earlier studies that employed non-stationary data, our findings indicate that there is no specific answer and trade flows of different countries react differently.     

Conflict,exhaustion, and motivation: A study of frontline employees in Northern Cyprus hotels

This study develops and tests a model that investigates the effects of work-family conflict, emotional exhaustion, and intrinsic motivation on affective job outcomes using data from frontline employees in Northern Cyprus hotels. Results show that work-family conflict is positively related to emotional exhaustion. Work-family conflict was found to be negatively associated with job satisfaction. However, the study results demonstrate that work-family conflict did not depict any significant relationships with affective organizational commitment and intention to leave. Results indicate that emotional exhaustion leads to job dissatisfaction, decreased affective organizational commitment, and high levels of intention to leave. Results reveal that intrinsic motivation is significantly related to emotional exhaustion, job satisfaction, and affective organizational commitment. In addition, the study results provide empirical support for the positive impact of job satisfaction on affective organizational commitment and the negative effects of job satisfaction and affective commitment to the organization on intention to leave. Discussion and implications of the results are presented in the study.     

Evaluation of 4PL operating models: A decision making approach based on 2-additive Choquet integral

By being a supply chain integrator who can assemble and manage the resources, capabilities, and technology of its own organization with those of complementary service providers, fourth party logistics (4PL) providers deliver comprehensive supply chain solutions and form an important option for business outsourcing. The adequate design of the partnership between companies in this type of outsourcing activities is essential. In order to support the effective usage of 4PL services, this paper proposes an analytical multiple criteria decision making approach to evaluate 4PL operating models. While decision criteria and their hierarchy were identified, it is observed that there exist interactions, e.g. simultaneous satisfaction of two or criteria is sometimes required. This situation can not be handled with traditional multi-criteria decision making methods which assume criteria independence. 2-additive Choquet integral is appropriate to model criteria interactions by pairs and is used in this study. The proposed framework is applied for a logistics company willing to expand its operations. Finally, an application is provided to demonstrate the potential of the methodology for 4PL operating model selection.