The New Competition in Broadcasting: Trick or Treat?

The broadcasting reforms of the 1990s attempted to combine increased competition with the preservation of the public service ideal. The reforms were called into question when it became clear that the production quality was being undermined by poor information flows and excessive transaction costs. For competition in broadcasting to flourish, closer attention needs to be paid tothe institutional preconditions of effective contracting.     

The Internationalisation Process of Danish Firms -Gradual Learning or Discrete Rational Choices?

Abstract

The Uppsala Internationalisation model has greatly influenced Nordic research on the internationalisation process of firms. In this article, the Uppsala model is tested on Danish empirical material. The Danish firms largely follow a sequential development as regards the geographical dimension, where, typically, they set up in culturally close markets first and later set up in the more distant markets. On the other hand, the firms seem to follow to a less extent a pattern of sequential expansion of market commitment on the single foreign markets, just as a surprising number of establishments are set up without previous activity on the market. Crucial differences cannot be found between the establishment pattern abroad of large and small firms. The Uppsala model in itself cannot explain the internationalisation pattern of the Danish firms, which is why the article advocates that the internationali-sation process should be understood as an interaction between internal conditions in the firm (“learning” processes), external competitive conditions and more basic economic factors (assessment of market potential).     

Why Do African Banks Lend So Little?

We put forward a plausible explanation of African banking sector under‐development in the form of a bad credit market equilibrium. Using an appropriately modified Industrial Organization model of banking, we show that the root of the problem could be unchecked moral hazard (strategic loan defaults) or adverse selection (a lack of good projects). Applying a dynamic panel estimator to a large sample of African banks, we show that loan defaults are a major factor inhibiting bank lending when institutional quality is low. We also find that once a threshold level of institutional quality has been reached, improvements in the default rate or institutional quality do not matter. This provides support for our theoretical predictions.     

The New Ruins of Ireland? Unfinished Estates in the Post‐Celtic Tiger Era

In the wake of the global financial crisis, and as Europe's financial and fiscal woes continue, Ireland's beleaguered economy has attracted a great deal of scrutiny, with much made of the country's status as one of the PIIGS and the fact that it was bailed out by the troika of the IMF, EU and ECB in November 2010. Whilst most attention has been directed at Ireland's banks and the strategy of the Irish government in managing the crisis, substantial interest (both nationally and internationally) has been focused on the property sector and in particular the phenomenon of so‐called ‘ghost estates’ (or, in official terms, unfinished estates). As of October 2011 there were 2,846 such estates in Ireland, and they have come to visibly symbolize the collapse of Ireland's ‘Celtic Tiger’ economy. In this essay, we examine the unfinished estates phenomenon, placing them within the context of Ireland's property boom during the Celtic Tiger years, and conceptualize them as ‘new ruins’ created through the search for a spatial fix by speculative capitalism in a time of neoliberalism. We detail the characteristics and geography of such estates, the various problems afflicting the estates and their residents, and the Irish government's response to those problems. In the final section we examine the estates as exemplars of new ruins, the remainder and reminder of Celtic Tiger excess.     

You're from where? The influence of distance factors on New Zealand expatriates’ cross-cultural adjustment

This study empirically tests the influence of various distance factors on expatriate cross-cultural adjustment. Expatriate perceptions of home and host country differences, objective measures of distance and the accuracy of expatriate evaluations of host country distance were compared as predictors of expatriate adjustment difficulty in the host country. The results revealed that perceived distance, objective cultural distance and the expatriate's perceptual inaccuracy had a significant effect on expatriate adjustment difficulty for one's first assignment. However, on subsequent assignments all measures of distance were significant. Adjustment became more difficult as perceptual accuracy improved. The implications of these findings are discussed.     

The timing of retirement — New evidence from Swiss female workers

We investigate the responsiveness of individual retirement decisions to changes in financial incentives. A reform increased women's normal retirement age (NRA) in two steps from age 62 to age 63 first and then to age 64. At the same time retirement at the previous NRA became possible at a benefit discount. Since the reform affected specific birth cohorts we can identify causal effects. We find strong and robust behavioral effects of changes in financial retirement incentives. A permanent reduction of retirement benefits by 3.4% induces a decline in the age-specific annual retirement probability by over 50%. The response to changes in financial retirement benefits varies with educational background: those with low education respond most strongly to an increase in the price of leisure.     

The implementation of monetary policy in New Zealand: What factors affect the 90-day bank bill rate?

This paper discusses the implementation of monetary policy in New Zealand and its flow-on effects on the 90-day bank bill rate over the 1999–2005 period. The effects of external factors are considered as well. Our findings indicate that the maturity spectrum ratio exerted a positive effect on the 90-day bank bill rate while the allotment ratio did not. This interest rate had a tendency to revert to the level set by its Australian counterpart, though at a relatively slow speed. No such link exists between the NZ 90-day rate and the U.S. 90-day rate. Neither the maturity spectrum nor the allotment ratio contributed to the volatility of the most important short-term interest rate in New Zealand.     

Do Opportunities for Formal Learning Stimulate Follow‐Up Participation in Informal Learning? A Three‐Wave Study

Informal learning is an important source of employee adaptability and expertise, yet it is unclear how it may be encouraged through human resource management (HRM) practices. In this study, we investigate how opportunities for formal learning may be used to stimulate short‐ and long‐term participation in informal learning. In addition, we examine whether HRM system strength intensifies the relationship between opportunities for formal learning and informal learning. Using a sample of 430 respondents in 52 teams within six Dutch vocational and educational training schools, we adopt a longitudinal design to examine two types of autonomous informal learning activities (reflection and keeping up to date), and three collaborative activities (asking for feedback, knowledge sharing and innovative behavior) over two years. Opportunity for formal learning was positively related to short‐ and long‐term participation in informal learning activities, with the exception of long‐term innovation. Moreover, HRM system strength intensified these relationships. Managerial implications of these findings for encouraging informal learning activities at work are discussed. © 2016 Wiley Periodicals, Inc.     

Learning about individual managers’ performance in UK pension funds: The importance of specialization

This study examines the performance of managers over time, as well as its persistence, taking into account both manager characteristics and market conditions. Applying parametric and non-parametric methodologies, we examine a sample of UK equity pension fund managers. Our results help to understand the importance of manager assignments in the industry and reveal the importance and benefits of management specialization. We find certain manager performance persistence, revealing that some managers are better than others and possess superior investment skills. Additionally, we find that managers achieve better results when they run a single fund or one investment-objective funds, which allows managers to focus on specific tasks. Nonetheless, manager performance varies with market conditions and highlights managers’ different skills. Specialist managers perform better in bullish markets, and generalists perform better in bearish periods.     

The psychologisation of employment relations?

This article argues that HRM is by nature a multidisciplinary subject area, and that it has traditionally been closely associated with the field of industrial relations (IR). However, it appears to have increasingly been taken over by industrial and organisational (I‐O) psychology, and in the process increasingly associated with organisational behaviour, which has also been taken over by I‐O psychology. Coupled with the narrowing and marginalisation of IR, this has meant an increasing ‘psychologisation’ not only of the study of HRM, but of the study of employment relations in general. This article discusses why this appears to have been happening, what its implications might be and what (if anything) might be done about it. Focus is on developments within North America, although the issues raised apply, perhaps, to different degrees, across liberal market countries and possibly beyond.     

The Challenge Facing SMEs in the Eu’s New Member States

The paper considers the main threats and opportunities for SMEs in new member states, arising out of EU membership, including the implications for SMEs at the micro level. Whilst accession-related changes have important potential implications for firms of all sizes, the distinctive size-related characteristics of SMEs affect their ability to identify, cope with and respond to new sources of threat and opportunity. These potential impacts face new member countries at a relatively early stage in the development of market-based systems, which still contain many deficiencies (particularly in institutional terms) and a SME sector with many characteristics that reflect its fledgling status.     

New class divisions in a modern working life?

This article questions the usefulness of a traditional class divide as a tool for understanding a contemporary working environment among manual and non‐manual workers in the oil service industry. The case of study is an enterprise within a supply chain with asymmetrical relationships between companies. Our findings show that the traditional manual/non‐manual class division is still relevant for understanding differences in perceived work situation in a modern work organisation. However, alongside a cleavage between manual and non‐manual workers, we find a cleavage between workers with differing amounts of contact with employees in organisations higher up in the supply chain.     

E-commerce regulation: New game,new rules?

Policy makers face many challenges to lay the foundations of a sound regulatory environment for e-commerce. These challenges reflect not only the large variety of policies that can influence e-commerce, but also the emergence of new governance issues that require international coordination. Moreover, the rapid expansion of networks has increased the potential for cross-border disputes in this area. This paper argues that competition among national regulatory regimes is unlikely to promote regulatory harmonization in the near future. The negotiation of a new set of rules at multilateral level, however, is bound to proceed at a slower pace than what would be desirable from the perspective of e-commerce firms. The paper points out that the WTO – as an obvious organization to advance the agenda of multilateral disciplines – is not in a position to deliver quick results with respect to e-commerce. The main contribution that the WTO can offer at this stage concerns the expansion of commitments under the GATS, fostering national treatment and broader market access, particularly, in telecommunications and computer-related services.     

New Men and New Women? A Comparison of Paid Work Propensities from a Panel Data Perspective

British Household Panel Survey data for waves 1–5 (1991–5) is used to compare paid work participation rates of men and women. Year-on-year persistence in paid work propensities is high, but greater for men than women. Non-work persistence is higher for women. Using panel data probit regression models, we also investigate why men's and women's participation rates differ, comparing the roles of differences in observable characteristics and differences in rates of return to these characteristics, while also controlling for unobserved heterogeneity. Most of the difference in participation rates is accounted for by the differences in returns associated with the presence of children, especially young ones.     

The state: Agent or proprietor?

This paper addresses the following question: Does characterizing the state to be an agent of its citizens provide a useful "as if" framework for positive analysis of economic policy? Or, can we understand economic policy only by explicitly characterizing the state as proprietary, the instrument of the ruling elite?     

The Significance of Historically Black Colleges and Universities (HBCUs) in the 21st Century: Will Such Institutions of Higher Learning Survive?

The United States is still dealing with institutional racism in higher education. For most of the past two centuries, African Americans were forced to attend segregated colleges and universities. Historically black colleges and universities (HBCUs) played a particularly important role during that long period. In many states, there would have been no institutions of higher education at all, were it not for federal legislation (the Morrill Act of 1890), the actions of religious institutions, and the persistent efforts of black Americans to gain an education, despite the obstacles. Even the seemingly race‐neutral G.I. Bill of 1944 had the pernicious effect of reinforcing racial segregation in both higher education and housing. Given this history, it comes as no surprise that some predominantly white institutions of higher education (PWIs) do not show a sustained commitment to educate African‐American students in this country, although they are often eager to recruit black student athletes for their various sport programs without much regard to the education received by those same athletes. Our inability as a nation to even talk intelligently about these intractable educational problems is disturbing. Indeed, diversity is not paramount for some PWIs, particularly in regards to hiring minority faculty. Perhaps more significantly, HBCUs are still necessary in our society today because they have been the mainstay of educating African Americans at the college and university levels. Black communities throughout our nation are still being devastated by economic polarization and by racial discrimination endemic to higher education at white institutions. The need to address the problem of racial discrimination in higher education remains as strong as ever.