Climate for conflict management,exposure to workplace bullying and work engagement: a moderated mediation analysis

The present study investigates a potential preventive factor in relation to workplace bullying. Specifically, we examine how climate for conflict management (CCM) may be related to less bullying, increased work engagement, as well as whether CCM is a moderator in the bullying engagement relationship. The study was based on a cross-sectional survey among employees in a transport company (N = 312). Hypotheses were tested simultaneously in a moderated mediation analysis which showed that bullying and job engagement were related (H1), CCM was related to less reports of bullying (H2), CCM was related to work engagement (H3) and that CCM was indirectly related to job engagement through bullying (H4), but only when CCM was weak (H5). That is, CCM moderated the relationship between bullying and work engagement in that this relationship only existed when CCM was low. The present study contributes to theory within this research field by showing that organizational measures may not only prevent bullying, but may also affect how employees react when subjected to bullying. Furthermore, the effect of climate in relation to bullying may be down to the narrow bandwidth facet of CCM. The study informs employers how they may act to prevent bullying while also reducing the potential negative outcomes of those cases of bullying that inevitably will show up from time to time.     

The Infusion of Relational Market Obligations into the Austrian Agenda—Some Lessons Learned from Economic Sociology

Given its dictum of market equilibrium, economics in general obviously does poorly in shouldering market dynamics. Pervading obligatory traits of the market (other than mere dyadic contracting) is yet another area where not much attention is devoted. Whereas the Austrian agenda fills the first of these voids in a most sophisticated manner, its current discourse appears as oblivious concerning the manner in which market exchange transforms into relational interconnected obligations. That is to say, exchange is hardly understood as an indispensable facet of durable market obligations such as relationships 'constituting the market', but exclusively as immediate entrepreneurial arbitrage. Apart from an outright peculiar failure to recognize some of its own roots in this regard this omission unnecessarily delimits the manner in which Austrians can proceed and deepen their market analysis. The principal idea of this paper is to scrutinize the manner in which relational market obligations can be introduced into Austrian reasoning by drawing on ideas from within economic sociology. Max Weber's dictum on market openness takes on a particular role in this regard. An adjacent contribution strived for is to let this scrutiny foreshadow the manner in which such a partial reconciliation of market ideas from within economic sociology and Austrian economics could proceed.     

What Determines Real Exchange Rates? The Nordic Countries

The model derived in this paper yields testable implications concerning the long‐run co‐movements of real exchange rates, relative labor productivity, the trade balance and terms of trade. Countries with relatively higher output growth, trade deficits or improved terms of trade are found to have more appreciated real exchange rates, with the main channel of transmission working through the relative price of nontraded goods. Exogenous terms‐of‐trade shocks are found to be the most important determinant of long‐run movements in the real exchange rate for Denmark and Norway, while demand shocks account for most of the long‐run variance in the real exchange rate for Finland and Sweden.     

Life Insurance Liabilities at Market Value: An Analysis of Insolvency Risk, Bonus Policy, and Regulatory Intervention Rules in a Barrier Option Framework

This article takes a contingent claim approach to the market valuation of equity and liabilities in life insurance companies. A model is presented that explicitly takes into account the following: (i) the holders of life insurance contracts (LICs) have the first claim on the company's assets, whereas equity holders have limited liability; (ii) interest rate guarantees are common elements of LICs; and (iii) LICs according to the so‐called contribution principle are entitled to receive a fair share of any investment surplus. Furthermore, a regulatory mechanism in the form of an intervention rule is built into the model. This mechanism is shown to significantly reduce the insolvency risk of the issued contracts, and it implies that the various claims on the company's assets become more exotic and obtain barrier option properties. Closed valuation formulas are nevertheless derived. Finally, some representative numerical examples illustrate how the model can be used to establish the set of initially fair contracts and to determine the market values of contracts after their inception.     

Price uncertainty and the effect of capital costs in a point in-point out inventory investment

This paper analyzes a point in-point out inventory investment under price uncertainty. The optimal quantity is determined by maximizing the expected value of the investor's risk preference function, which is a function of profit. Using an exponential risk preference function, the adjustment in the optimal quantity stemming from a change in the interest rate is investigated. The main conclusion is that the sign of the adjustment depends both on how profit is expressed and on the type of price distribution applied. Contrary to what is assumed in conventional managerial control practices, a rise in the interest rate might lead to an increase in the optimal quantity when present value serves as a measure of profit.     

Co-branding on industrial markets

During the last decade branding has developed to be one of the main focus areas in consumer marketing. In the industrial marketing area there has only been limited attention to this phenomenon. In this paper we focus on how co-branding can be used on industrial markets to increase value. Through an empirical study of professional purchasers' attitudes towards co-branding activities between two companies, we explore the potential of this strategy.     

Business relatedness and performance: a study of managerial perceptions

Understanding of business relatedness and performance effects is the foundation of any diversification decision, but we have limited knowledge of how managers consider relatedness. This study identified relatedness classes and performance effects using perceptual survey data from top industrial executives. Four classes with significant variable differences were found: high, technology, customer, and low relatedness. Technology relatedness had a strong positive performance effect and high relatedness had a negative effect. The findings confirm that perceptions are multidimensional, but may include five key factors rather than the previously identified attribute categories of product–markets, resources, and value chains. Contributions to diversification literature are discussed. Copyright © 2006 John Wiley & Sons, Ltd.     

Wood Fuel or Carbon Sink? Aspects of Forestry in the Climate Question

This paper discusses and contrasts two mainroles of forestry in light of the debate on theglobal climate. As the main problem is relatedto the increases of the CO₂-concentrationin the atmosphere, forests may be viewed aspart of the alleviation of the problem throughtheir function as (i) a source of biomass forenergy production, which may replace fossilfuels and thus indirectly reduceCO₂-emissions, and as (ii) carbon storage,since a growing forest extracts atmosphericCO₂ and fixes it as carbon in biomass. Inthe Scandinavian forestry, logging residues areincreasingly being used for energy production.In this paper the value of forests as a sourceof bioenergy is added to the traditional timbervalue. Formulated as a joint production modelwithin the Faustmann framework, the effect ofthis addition on the optimal rotation length isdiscussed. Based on data for spruce, thedominant species in the Scandinavian forestry,it is demonstrated that the rotation length isshortened compared to the standard Faustmannmodel. Shorter rotation length implies lesscarbon storage. Therefore, in this modelwithout explicit regard to the social carbonstorage value of the forest, the gains in termsof the climate problem from utilisation offorest biomass for energy production are beingdiminished by the value of reduced carbonstorage. The carbon value of the forest is thenadded to complete the model, with the effect ofincreasing the rotation length, a result thatis well known in the literature. Finally, theempirical effects of the interaction of thesetwo climate-related value elements of theforest are discussed.     

Catching up and falling behind,a vintage model approach

The literature on catching up suggests that due to diffusion and imitation, relatively backward countries should grow at a faster rate. A model along lines suggested by Abramovitz is constructed to examine this. A country's change in productivity (technological gap) is supposed to depend on the productivity gap itself (relatively backwardness), social capability of adopting new technology, and R&D-activity. Together with a vintage growth model, this set-up gives a lot of different possible explanations of why growth rates differ among nations. The possibilities of both catching up and falling behind are considered.     

The politics of urban climate risks: theoretical and empirical lessons from Ulrich Beck’s methodological cosmopolitanism

Abstract

In the face of global climate risks, world cities increasingly figure in academic and policy discourse as strategic spaces for harnessing the expertise and governance capacity needed to steer societies toward more sustainable and low-carbon futures. This article reviews existing approaches to the study of urban climate politics, by way of asking what contribution Ulrich Beck’s theory of world risk society – and principles of methodological cosmopolitanism – make to such epochal conversations? Three main analytical frameworks stand out: low-carbon transition literature highlight generic processes of socio-technical ‘greening’ of urban infrastructures; urban policy mobility work documents growing intercity networks around climate and sustainability; and actor–network theory-informed takes on urban controversies engage the localized politics of specific city-based ‘riskscapes’. While each framework makes valuable contributions, this article suggests that all of them remain under-theorized from the point of view of the specific dynamics of local–global interdependencies in urban climate risk politics. In response, the article draws on Beck in outlining the contours of new urban–cosmopolitan risk communities. To this effect, empirical studies into large-scale East Asian and European port cities is used to illustrate how a shared transnational risk imaginary (e.g. of future sea-level rises) may help spur collective action and new forms of trans-boundary solidarity. Reflecting on such research practices, the article ends by pointing to the need for reworking methods of (multi-sited) ethnography and comparison as central parts of realizing Ulrich Beck’s cosmopolitan sociology in the domain of urban climate risks.