Financial knowledge among Iranian investors

This research is the first to describe financial knowledge in the Islamic Republic of Iran. Data were collected from a convenience sample of investors in the Tehran Stock Exchange. The data were used to examine objective and subjective knowledge as well as overconfidence in one's financial knowledge. The results indicated that compared with other populations, Iranians did not perform well on either basic or advanced financial knowledge questions, especially when the questions dealt with interest rates. This is likely related to the Islamic law ban on usury‐based investing. Regression analysis indicated that demographic charactristics related to basic financial knowledge were income, labour force status and being a student. Demographic characteristics related to advanced financial knowledge were education, labour force status and age. Higher income and education reduced the odds of being overconfident about one's financial knowledge, while being a student and male increased the odds. The article concludes with recommendations about future research as well as building a national financial education strategy.     

Explaining regional variation in business births and deaths: U.S. 1976–88

Linear models are developed to determine the relative impact of 15 start-up processes on the annual regional birth rate of new business organizations for all industry sectors in the U.S. over 6 two-year periods. These stable linear models explained from 50–70|X% of the variation in regional firm birth and death rates up to 16 years into the future. Start-up processes that have the most impact involve regional economic diversity; population growth; greater personal wealth; presence of mid-career adults; low unemployment; and greater flexibility in employment relationships. There was a complete absence of any impact of regional variation associated with higher densities of customers, suppliers, workers, R&;D resources; costs of production; or access to national transportation facilities.     

Mandatory and binding arbitration: Effects on employee attitudes and recruiting results

This paper reports the results of two studies undertaken in the same Fortune 500 company as it adopted an Alternative Dispute Resolution (ADR) program. Study 1 assessed employees' perceptions of fairness, trust, and turnover intentions regarding ADR options. Compared with other options for ADR, a program consisting of mandatory mediation followed by mandatory and binding arbitration (MMBA) resulted in significantly lower levels of procedural fairness perception, organizational trust, and intentions to stay with the firm. Contrary to previous research, no significant effects were found related to respondents' demographic characteristics and their reactions to ADR program characteristics. In Study 2, job‐applicant flow data were evaluated and compared by corporate region to determine the effects of an MMBA program installed in one region. Results revealed no significant effects related to the MMBA program on the organization's ability to recruit and ultimately fill key positions. As in Study 1, no significant effects were found in Study 2 for the demographic characteristics of applicant race/ethnicity, gender, or age on applicant recruitment decisions. Although Study 2 results indicated job candidates are unaffected by the existence of an MMBA program, given Study 1's results, practitioners should be cautious about implementing such a program for current employees. © 2011 Wiley Periodicals, Inc.     

NOT REPORTING A PROFIT: CONSTRUCTING A NON‐PROFIT ORGANISATION

Public sector reformers advocate contracting‐out as a means of improving cost‐effectiveness. In the health sector, market‐based contracts with for‐profit organisations can reduce equity of access and divert public funds to private gain. Such issues have prompted policy makers to seek alternative contracting strategies. This paper examines a primary health care policy whereby government contracts with private non‐profit organisations to increase efficiency and meet World Health Organisation ideals. The study found that the policy's implementation has not achieved these aims when for‐profit providers masquerade as non‐profit organisations. The implication is that governments may find it more effective to manage for structural diversity than mandate homogenisation.     

Beyond convenience: the future for independent food and grocery retailers in the UK

The UK's independent food and grocery retail sector's competitive advantage of 'convenience' has been eroded in recent years as major retailers increase opening hours and develop their own convenience trading formats. As a result, large numbers of independent retailers are closing. A UK-wide survey was undertaken to identify other sources of competitive advantages, and the changes needed to stop or reverse the decline in this sector. Exploratory semi-structured interviews led to the development of a questionnaire on six major issues affecting the sector. 'Snowball' sampling, using industry partners, provided 142 respondents. The provision of a 'social shopping experience' emerged as a key competitive advantage that could be developed. Improving vertical and horizontal trading alliances, and the wider use of information technology, provided other options.     

Inconsistencies in US consumers' attitudes toward and use of electronic banking: An empirical investigation

The purpose of the study was to empirically investigate the factors that influence US consumers' attitudes toward and use of electronic banking (e-banking) and to explore the reasons that a magnitude discrepancy exists between the impact of the specific factors on consumers' attitudes and the impact on their actual behaviours. Using the data from the 2003 Survey of Consumers commissioned by the Survey Research Center at the University of Michigan, the current study found that consumers' perceptions of the characteristics of e-banking, namely the perceived advantages and problems, had different impacts on consumers' attitudes toward and their use of such service. While the perceived problems were more important in forming consumers' attitudes toward e-banking, the perceived advantages had the greatest impact on consumers' use of such service. The conclusions and discussions section also includes theoretical and practical implications drawn from the results.     

构建领导能力补给线：从哪里开始

构建领导能力补给线对所有企业而言都是一种竞争上的必要之举。如果得到成功执行,它将创造出竞争优势