Enabling ‘managed activism’: the adoption of call centres in Australian,British and US trade unions

This article examines how trade unions in different country settings have utilised call centre technologies. Rather than viewing union call centres as simply a means of service delivery, our research suggests they can also enable a more strategic approach to workplace organising. We explore the implications of union call centres for debates on servicing and organising models of trade unionism.     

Pricing Mortgage-Backed Securities: Integrating Optimal Call and Empirical Models of Prepayment

Residential mortgage borrowers frequently appear to behave suboptimally with respect to their mortgage prepayment options. Many borrowers fail to exercise even well-into-the-money options while others prepay when the call option is out-of-the-money. To account for these apparently suboptimal prepayments, the recent trend in mortgage-backed securities research has been away from optimal call valuation models, in which the decision to exercise is determined endoge-nously, in favor of models in which prepayment behavior is exogenously specified based on empirical estimation. This paper develops a rational model of mortgage prepayment which incorporates both types of "non-optimal" prepayment and retains endogenous call. This enables the model to disentangle and compare the separate effects of the interest rate call, impeded by transaction costs, and of non-interest-rate driven prepayment. In addition, by recognizing heterogenous borrower transaction costs, the model presents a way to account more precisely for the varying prepayment lags associated with well-into-the-money call options and to account for the phenomenon of "burnout" within a mortgage pool. The paper includes an empirical test of the unbiasedness of the integrated pricing model by comparing simulated prices from our theoretical model to observed prices on traded Fannie Mae and GNMA securities.     

Industrial sales call planning

This article deals with the call planning process in commercial and industrial sales. The role of call planning and its relationship to sales effectiveness is developed in the context of time trade-offs among sales activities. A conceptual model of the call planning process is then provided. Previous research related to the components of the model and their interrelationships is reviewed. The article concludes with a discussion of implications of the model and previous research with respect to salesperson and management practice.     

Entrapped by the ‘electronic panopticon’? Worker resistance in the call centre

This article presents a thoroughgoing critique of Fernie and Metcalf's perspective, that the call centre is characterised by the operation of an 'electronic panopticon' in which supervisory power has been 'rendered perfect'. Drawing on evidence from a telecommunications call centre the authors analyse the significance of emerging forms of employee resistance.     

Should telecoms liberalisation stop at call termination?

In recent years concerns about the degree of competition in the provision of telecommunications call termination services have emerged. While the general consensus is that call origination is becoming more and more competitive, regulatory attention to call termination has widened in scope beyond the incumbent public telephone operators, leading to direct regulation of mobile termination charges in some countries and a debate on whether regulation should also be extended to “non-dominant” networks. This paper assesses whether these concerns are justified, extending the analysis to review the economic literature on reciprocal setting of termination charges between network operators. We conclude that while ex ante regulation of call termination simplifies the work of regulators it does not appear justifiable in all circumstances.     

Voices from higher up the ladder: exploring the team leader role in call centres

This paper focuses on an under‐researched employee category in the call centre literature—the team leader. The paper, drawing on data from nine Australian call centres, finds that the team leader role is integral to the effectiveness of call centres, yet it is a role that consists of considerable complexity and contradictions. The research demonstrates the critical role performed by team leaders: coach, mentor, trainer, performance evaluator, communicator and supervisor. It also shows team leaders as being far more positive about many of the features of the call centre work environment compared with those on the front line. However, there does appear to be a need for greater acknowledgement of their challenging role, the contradictions that are inherent in the job and the need, in many cases, for increased support being made available to assist.     

Determinants of GNMA Mortgage Prices

This paper contrasts three different arbitrage-based models for the pricing of GNMA securities, and analyzes the effect of different assumptions about the call policy pursued by the issuers of the underlying mortgages. Both the nature of the interest-rate uncertainty captured by the model and the assumed call policy have a major effect on the yield differentials predicted between GNMA securities and Treasury Bonds.     

Can a margin squeeze indicate the need for deregulation? The case of fixed network voice telephony markets

In the beginning of fixed network liberalisation in Europe in the late 1990s, the main concern of regulators was to lower retail call prices. This was done by introducing wholesale regulation and promoting service-based competition. Some years later, the concern of some regulators turned from too high retail call prices to too low call prices, which might ‘squeeze’ entrants out of the market. This paper looks at a simple model in which this development is explained by increasing competitive pressure from an ‘outside opportunity’, most notably mobile telephony and cable. It is concluded that a margin squeeze is not necessarily used by the incumbent as a device to drive competitors out of the market and to increase market power but can also result from increased inter-modal competition. If this is the case, it is argued that the appropriate response would be deregulation or – under particular circumstances – a switch from cost-oriented access prices to alternatives such as retail-minus or capacity-based interconnection.     

What is the magnitude of fixed–mobile call substitution? Empirical evidence from 16 European countries

This paper investigates the degree of fixed–mobile call substitution (FMCS) within different European countries. We use quarterly data from 2004 to mid-2010 on 16 mainly Western European countries. By applying dynamic panel data techniques, we are able to estimate short- and long-run elasticities of the telecommunication usage prices on the fixed-line call demand. The own-price and cross-price elasticities found give strong empirical evidence for substitutional effects towards mobile services. In particular, the estimated cross-price elasticities of the mobile price on the fixed-line call demand are relatively large compared to other studies.     

Women, social skill and interactive service work in telephone call centres

This paper contributes to current debates about gender, work and skill in the service economy, focusing specifically on the case of women's employment in telephone call centres. The paper asks whether call centre employers are capitalising on women's 'feminine' social skills, and examines the degree to which these skills are being developed, acknowledged and recognised.     

Collective Bargaining and High‐Involvement Management in Comparative Perspective: Evidence from U.S. and German Call Centers

This article assesses the relationship between national and collective bargaining institutions, management practices, and employee turnover, based on case study and survey evidence from U.S. and German call center workplaces. German call centers were more likely to adopt high‐involvement management practices than those in the United States, even across workplaces with no collective bargaining institutions. Within Germany, union and works council presence was positively associated with high‐involvement practices, while works council presence alone had no effect. In contrast, union presence in U.S. call centers showed either a negative association or no association with these practices. National and collective bargaining institutions and high‐involvement management practices were associated with lower quit rates in both countries, with only partial mediation.     

The Termination of Commercial Mortgage Contracts through Prepayment and Default: A Proportional Hazard Approach with Competing Risks

This article examines the factors driving the borrower's decision to terminate commercial mortgage contracts with the lender through either prepayment or default. Using loan–level data, we estimate prepayment and default functions in a proportional hazard framework with competing risks, allowing us to account for unobserved heterogeneity. Under a strict definition of mortgage default, we do not find evidence to support the existence of unobserved heterogeneity. However, when the definition of mortgage default is relaxed, we do find some evidence of two distinctive borrower groups. Our results suggest that the values of implicit put and call options drive default and prepayment actions in a nonlinear and interactive fashion. Prepayment and default risks are found to be convex in the intrinsic value of call and put options, respectively. Consistent with the joint nature of the two underlying options, high value of the put/call option is found to significantly reduce the call/put risk since the borrower forfeits both options by exercising one. Variables that proxy for cash flow and credit conditions as well as ex post bargaining powers are also found to have significant influence upon the borrower's mortgage termination decision.     

Gender,choice and constraint in call centre employment

This paper examines the genderised experience of employment in call centres. While existing studies have acknowledged structural and agential constraints on women in the workplace, this paper goes further by illustrating the gendered nature of career choice and progression in a context which, in certain respects, appears to have benefitted women's desires for advancement. Drawing on quantitative and in‐depth qualitative data from four Scottish call centres, the study provides evidence of gender inequality shaped by structural and ideological workplace and household constraints.     

'You don't know what you've got till it's gone': re-contextualising the origins, development and impact of the call centre

This paper locates the emergence of call centres within the broader political economy. We demonstrate how British Gas responded to privatisation, restrictive regulation and the need to deliver shareholder value by radically changing work organisation. Using documentary evidence and oral testimonies, we show how the call centre was pivotal to tightening control over the labour process, to intensifying work and transforming the experience of work.     

That pesky last mile: Call termination strategies for mobile satellite systems

This article will examine call termination strategies of several representative mobile satellite service (MSS) operators with an eye towards identifying the strengths and weaknesses of their terrestrial call routing strategies. MSS traffic must easily flow into and out from public switched telephone networks even if it triggers an accounting rate settlement. To provide a flat, per minute rate of $3.00 or less per minute, MSS operators must recognize the strategic importance of where they install gateways, and the potentially adverse financial impact of the current accounting rate regime.     

权证市场的波动：特点、成因及对我国金融衍生品市场发展的启示

通过设计“非理性价格波动天数所占比例”和“价格波动相关系数”两个指标,采用动态分析的方法,对股权分置改革以来我国权证市场及不同权证品种的波动状态进行了跟踪研究,发现我国权证市场波动的特点是：认股权证在2006年4月以后开始回归相对理性;认沽权证没有回归理性的趋势;以及同一股票所发行的认股权证与认沽权证的价格之间是正相关的。在分析了上述特点产生原因的基础上．对权证市场乃至整个金融衍生品市场的发展与监管提出了相应建议。     

Demand Uncertainty,Development Timing and Leasehold Land Valuation: Empirical Testing of Real Options in Residential Real Estate Development

This article develops and tests a long‐dated American call option pricing model for valuing development land under leasehold. We analyze and test option values in ten detailed Hong Kong cases involving purchase, holding, converting and developing land. We also test for optimal exercise of long‐dated American calls using processes based on the optimal trigger ratio feature of the perpetual American call option model. Generally, the empirical results confirm presence of a positive and nontrivial option premium (mean +5.274%) in the cases, and that developers appear to delay exercise to the point predicted by the real options model.     

The assignment of call option rights between partners in international joint ventures

We examine call option rights as a contractual clause in international joint ventures (IJVs) and propose that the assignment of the call option right in an IJV is determined by certain ex ante asymmetries between the partners. Results show that between the two partners in an IJV, the firm with greater complementarity with the venture and greater prior IJV experience is more likely to hold the call option right; in addition, the firm's contractual choice on the call option right and its ownership choice on a greater initial equity stake are substitutive. Our focus on explicit call options advances the real options theory of collaborative agreements, and our results also highlight that option rights be considered an important part of alliance design. Copyright © 2013 John Wiley & Sons, Ltd.     

Temporality,space and technology: time‐space discourses of call centres

This paper considers time‐space discourses within grand theories that have shaped the trajectory of research on call centres. A critical approach to telework needs to consider temporal and spatial configurations and space creation as a negotiation between a multitude of factors including capital, culture and human agency.     

Making it Personal in a call centre: electronic peer surveillance

This paper analyses a form of electronic surveillance in a call centre that was not automatically performed through or by information and communication technology but required the active involvement of peers to provide feedback on each other's work by using an online reporting tool. Increased surveillance led to a tightening of control over certain aspects of work as advisors modified their call‐handling practices. But surveillance was simultaneously undermined by technical and bureaucratic control linked to existing information systems, which affected the ability and availability of peers to perform monitoring. Electronic peer surveillance was also unable to provide objective information or unobtrusive control as performing and evaluating surveillance became a highly political and contested process. Various forms of resistance arose, which were not always directed at management, but were instead manifest through increased animosity between teams.