The diversification of charities: from religion‐oriented to for‐profit‐oriented fundraising

• Charities are increasingly relying on more complex and diversified fundraising structures to raise funds and attract benefactors. In adopting a historic perspective, this research identified five emergent fundraising structures, namely religion‐oriented, business‐oriented, marketing‐oriented, consumer‐oriented, and for‐profit‐oriented. The analysis critically evaluates the role that institutions and resources have played in each funding structure and draws conclusions concerning the management of charitable fundraising in a world where charitable fundraising, consumerism, and social media networking are increasingly entwined with the for‐profit motive.

Copyright © 2012 John Wiley & Sons, Ltd.     

The rate of learning‐by‐doing: estimates from a search‐matching model

We construct and estimate by maximum likelihood a job search model where wages are set by Nash bargaining and idiosyncratic productivity follows a geometric Brownian motion. The proposed framework enables us to endogenize job destruction and to estimate the rate of learning‐by‐doing. Although the range of the observations is not independent of the parameters, we establish that the estimators satisfy asymptotic normality. The structural model is estimated using Current Population Survey data on accepted wages and employment durations. We show that it accurately captures the joint distribution of wages and job spells. We find that the rate of learning‐by‐doing has an important positive effect on aggregate output and a small impact on employment. Copyright © 2009 John Wiley & Sons, Ltd.     

Equity‐Liabilities Distinction: The case for Co‐operatives*

Members' shares in co‐operative entities are financial instruments with particular characteristics. In this paper we analyse the relation between firm leverage and systematic risk to provide empirical evidence on the economic substance of the member shares of members of cooperatives. We have studied the characteristics of members' shares in six European countries: France, Germany, Italy, Portugal, Spain and United Kingdom. We have also conducted tests on co‐operatives of these countries over the period 1993–2005. The study reports that in global terms the economic substance of the redeemable part of equity in co‐operatives is not the same across countries. Therefore if accounting standards setters want to develop a global standard for co‐operatives, a recommendation derived from this study would be to follow a probabilistic model to classify the redeemable part of co‐operative financial instruments, where the entity does not have the unconditional right to refuse the redemption, or to report this part as an intermediate item with characteristics of debt and equity.     

Work‐to‐Family Spillover Effects of Workplace Ostracism: The Role of Work‐Home Segmentation Preferences

This study considers workplace ostracism as a source of stress and examines its spillover effects on the family. By integrating the work‐family interface model with boundary theory, we investigate the impact of workplace ostracism as perceived by employees on their family satisfaction by examining the mediating role of work‐to‐family conflict and the moderating role of work‐home segmentation preferences. The results from a three‐wave field survey of 233 employees in China indicate that workplace ostracism is negatively related to family satisfaction; this relationship is also mediated by work‐to‐family conflict. In addition, work‐home segmentation preferences attenuate the mediating effect of work‐to‐family conflict on the relationship between workplace ostracism and family satisfaction. The theoretical and managerial implications of these findings are discussed.     

Lump‐Sum versus Pay‐As‐You‐Go: The Moderating Effect of Contract Types on the Optimal Logistics Decisions

When outsourcing their logistics operations to transportation companies, manufacturers/retailers need to design a contract, under which payment can be made either in a lump sum or over time (i.e., per each delivery). This paper investigates how the payment method (i.e., type of contracts) impacts the transporter's delivery schedule by developing an analytical model based on the optimal control and game theories. Our findings show that the transporter's delivery schedule depends on the method of payment and the overall cost of hiring a transporter varies with the types of contracts. We provide theoretical explanations to these findings along with managerial implications. Copyright © 2016 John Wiley & Sons, Ltd.     

The Effectiveness of Single‐Sex Schools through Out‐of‐School Activities: Evidence from South Korea

Students’ out‐of‐school activities and time use can play a crucial role in facilitating the effect of schools on students’ achievement. Using data from Seoul, South Korea, where students are randomly assigned into schools, we show that when single‐sex schools improve students’ test performance, their effect is positive on students’ time spent on study‐related out‐of‐school activities. Our results indicate that out‐of‐school activities explain roughly 21%–30% of the effect of single‐sex schooling on test performance.     

Bootstrap Co‐integration Rank Testing: The Effect of Bias‐Correcting Parameter Estimates

Bootstrap‐based methods for bias‐correcting the first‐stage parameter estimates used in some recently developed bootstrap implementations of co‐integration rank tests are investigated. The procedure constructs estimates of the bias in the original parameter estimates by using the average bias in the corresponding parameter estimates taken across a large number of auxiliary bootstrap replications. A number of possible implementations of this procedure are discussed and concrete recommendations made on the basis of finite sample performance evaluated by Monte Carlo simulation methods. The results show that bootstrap‐based bias‐correction methods can significantly improve the small sample performance of the bootstrap co‐integration rank tests.