Historical family structure as a predictor of liberal voting: Evidence from a century of Russian history

Family structure is considered a particularly important predictor of social and political development; historical differences in family size and other family characteristics cast a long shadow over societal development. This paper explores the effect of differences in historical family size on political behavior based on within-country variations in this characteristic in Russia. Unlike most papers on historical legacies, we trace the effect of family size over a century of Russian history with a focus on the first competitive and free elections in Russia—to the Constituent Assembly—held in 1917 and on the presidential elections in post-Soviet Russia in 1996 and 2000. Mean family size is measured based on the census data for 1897. We find a robust and significant association between smaller family size and a voting preference for parties that are economically liberal, which holds despite differences in the political, economic, and social environment between the 1910s and 1990s     

Service on a Stigmatized Board,Social Capital,and Change in Number of Directorships

This article seeks to develop a nuanced understanding about the relationship between service on a stigmatized board and reduced opportunities for future directorships on other boards by examining the moderating effects of different dimensions of director social capital on this relationship. Evidence based on a unique sample of firms with boards that were viewed as being stigmatized by a group of corporate governance experts suggests that while serving on a stigmatized board is related to a reduction in future number of directorships held, this relationship is significantly mitigated for directors of upper‐class origins. However, social capital related to affiliations with other elite institutions does not appear to mitigate reduction in future number of directorships held by outside directors who serve on a stigmatized board. Implications and future directions in research on class‐based influence in the corporate community and stigmatization and devaluation of elites associated with corporate failures are discussed.     

The impact of collective bargaining for teachers on resource allocation in public school districts

This paper presents a theoretical and empirical evaluation of the impact of teacher bargaining on the demand for school inputs, the compensation of school personnel, and the level of educational expenditure in public school districts. It is demonstrated that the major impact of bargaining for teachers has been on a regional rather than on a district by district level, and, contrary to the results of previous studies, bargaining does appear to have a substantial and significant effect on teachers' salaries. The empirical analysis is carried out on a sample of public school districts located in the state of California.     

Foreign bank lending during a crisis: The impact of financial regulations

This study examines foreign bank lending during crises by using data on 1,558 individual banks in Asian and Latin American countries during the period 1987-2013. Our results reveal that, in a crisis period, Asian banks with a higher level of foreign ownership tend to reduce their lending. Nevertheless, during crises banks consistently increase their lending in order to support their borrowers; in fact, in Latin America, crises stimulate foreign banks to lend more. Our evidence on lending during a crisis supports credit rationing theories with a flight to quality. The international substitution effect also holds based on our results. Taking financial structures and regulation into consideration, for banks with more foreign ownership in a highly concentrated financial system in Asia, the crisis has less effect on a cut in lending, while it has a greater effect on cuts in lending for countries with a higher level of government-owned assets. This paper contributes to the existing literature on the bank lending channel and provides implications for policymakers.     

HRM and Indian epistemologies: A review and avenues for future research

India is emerging as a super power, slated to be among the world's five largest economies and viewed by international investors, business conglomerates and tertiary education providers as a land of opportunity. A database search since the opening up of the Indian economy in 1991 reveals a slowly increasing number of scholarly articles on HRM, with a steep rise from the year 2000 onwards. While it is acknowledged that the field of HRM is a broad area, there is currently a dearth of research in specific HRM practices and policies in India to warrant a focus on only one area. Hence the primary objective of this article is to present a scholarly survey of important research literatures in the area of HRM in India, and to offer avenues for future research. To this end this article garners, integrates and discusses research on HRM in India with a focus primarily on the past fifteen years. It is within this complexity that research on India and its workforce is presented by illuminating HRM as embedded in the Indian environment with its intricate epistemologies and transitions in a period of dynamic change.     

Commitment and strikes in wage bargaining

This paper analyzes the long-run strategic relationship between a firm and a union as a repeated bargaining game, where there is incomplete information on the player's motivation on both sides and each party has a fall-back position. The firm and the union will engage in a reputation-building activity, that will produce a limited number of strikes over time. The bargainer that succeeds in building up a reputation for toughness and obtains a favorable payoff in the long-run is, either the more patient (or alternatively the more centralized), or the party with a higher initial probability of stubbornness, or the party with a smaller fall-back position. Our model also offers predictions on the dependence of strike incidence over time on several parameters.     

Measuring strategic environmental performance

It is now widely acknowledged that environmental issues will increasingly affect the performance of firms in western countries, both in the short and in the long run. Environmental issues can act on revenues and on costs. They can influence revenues when a firm follows a ‘green strategy’, i.e. it enhances the characteristics of environmental compatibility of its products or it promotes a credible image of a ‘green company’, that employs only clean technologies. They can influence costs as, on the one hand, more limiting environmental standards can result in higher manufacturing and non manufacturing costs and, on the other hand, programmes focused on improving environmental performances can result in less spoils and wastes, hence in lower costs. Hence, environmental performance should be a structured part of the management control system of an industrial firm. Unfortunately, it is not completely clear how accounting information can be structured in order to obtain this result. This paper is aimed at developing a set of information that can be used for a managerial control focused on the environmental performance of an industrial firm. This paper is organized in three main sections. Section I describes the conceptual requirements of a management control system based on accounting information for monitoring the environmental performance of an industrial firm (completeness, long term orientation, external orientation, measurability and cost). Section II analyses different classes of Environmental Performance Indicators (EPI) used in practice. Both accounting measures (prevention costs and investments; operating environmental costs; contingent environmental liabilities) and non financial measures (physical indicators; compliance) are considered. Section III suggests an integrated approach to the design of a management control system focused on environmental issues, where different classes of indicators are used jointly. More specifically, two integrated systems, one mostly based on physical measures and aimed at external communication, the other focused on accounting measures and supporting managerial decision making, are suggested.     

The (non-)Keynesian effects of fiscal austerity: New evidence from a large sample

We empirically assess whether the negative response of private consumption and private investment to fiscal consolidation usually expected is reversed. We focus on a sample of 174 countries between 1970 and 2018 to determine episodes of fiscal consolidations using three alternative measures of the cyclically adjusted primary balance: (1) an International Monetary Fund (IMF)-World Economic Outlook (WEO) based measure, (2) a Hodrick-Prescott–based measure, and (3) a measure based on Hamilton (2018). We find that, first, increases in government consumption have a Keynesian effect on real per capita private consumption; second, tax increases have a positive effect on private consumption when a fiscal consolidation occurs; and, third, fiscal contraction has a crowding-in effect on private investment. Moreover, expansionary fiscal consolidations occur in highly indebted advanced economies, in particular, after an increase in taxes. We conclude that the negative effects of taxation on private consumption are larger when developing economies are experiencing a financial crisis and are not consolidating.     

The impact of narcoterrorism on HRM systems

This paper presents a study on the emergence of human resource management (HRM) systems in a narcoterrorism context based on a mixed-method approach. We conducted 40 interviews at 24 firms in Mexico to explore emerging HRM systems in narcoterrorism environments. The interviews were complemented with a quantitative content analysis of 204 news stories to explore the direct and indirect impacts of narcoterrorism on firms. Our analysis of firms’ responses with respect to HRM systems, which is supported by our quantitative analysis on the impacts of narcoterrorism, indicates that trust appears to shape HRM systems. We identified an adaptation strategy to design HRM systems based on a combination of strict employee’s screening and control an emphasis on humanistic practices such as soft-skills training and development, and a flexible work schedule, which appears to facilitate the development of trust in narcoterrorism environments. Identifying the similarities of objects and issues in the narcoterrorism context can help develop an understanding of this local phenomenon, with implications for the HRM and terrorism literatures on a global scale. Our findings highlight the importance of reinforcing values such as trust, openness, involvement and participation to develop a strong HRM system to adapt to narcoterrorism environments.     

The effects of occupational stress on burnout and life satisfaction: a study in accountants

The aim of this study is to determine the impact of occupational stress on burnout and life satisfaction in accountants. The study deals with burnout from three dimensions: emotional exhaustion, lack of personal accomplishment and depersonalization. Certain hypotheses were developed according to a model. These hypotheses mainly measure the negative impact of occupational stress on life satisfaction and its positive impact on burnout. In order to test these hypotheses, a study was conducted in 217 accountants in the city of Kayseri in Turkey. On the research revealed that occupational stress has a negative impact on life satisfaction, while it has a positive impact on the three dimensions of burnout listed above. Based on these results, the study argues that occupational stress is an important factor in determining the life satisfaction and burnout levels of accountants. Finally in this study, some limitations and recommendations are presented for the researchers of future studies.     

中国城市土地市场存在“赢者诅咒”吗？

借鉴相关研究成果,构建一个综合性的时间窗口分析模型,利用我国境内房地产上市公司在20个城市购置的205宗土地作为样本,设置前向与后向共八个事件窗口,定量考察土地市场价格信号对股票市场的影响。实证结果表明：土地市场与股票市场是两个高度关联的市场,两个市场之间存在信号传递作用,短期内具有正向冲击效应,地价信号在土地出让后能够在短期内影响股票收益率,形成对股票价格的短期冲击效应;土地出让价格信号对股票市场的影响具有时间上的不对称性,地价信号对于股票收益率的影响主要发生在土地成交之后,股票市场对于土地竞拍以前的信息没有明显响应;土地市场所发现的价格信号是关联市场价格波动的信号源,改变竞价人的预期是市场稳定的关键。     

Classification of intraday S&P500 returns with a Random Forest

Stock markets can be interpreted to a certain extent as prediction markets, since they can incorporate and represent the different opinions of investors who disagree on the implications of the available information on past and expected events and trade on their beliefs in order to achieve profits. Many forecast models have been developed for predicting the future state of stock markets, with the aim of using this knowledge in a trading strategy. This paper interprets the classification of the S&P500 open-to-close returns as a four-class problem. We compare four trading strategies based on a random forest classifier to a buy-and-hold strategy. The results show that predicting the classes with higher absolute returns, ‘strong positive’ and ‘strong negative’, contributed the most to the trading strategies on average. This finding can help shed light on the way in which using additional event outcomes for the classification beyond a simple upward or downward movement can potentially improve a trading strategy.     

Purchasing involvement in technologically uncertain new product development projects: Challenges and implications

This paper explores an emerging field of research within purchasing that concerns the changing role of purchasing when companies embark on technologically uncertain NPD projects. Where existing research has examined the role of purchasing in facilitating early supplier involvement in new product development, little research has been done to date on how purchasing's role might change when facing technologically uncertain NPD that require new capabilities and new technology. Based on an in-depth case study of a technologically uncertain NPD project in the passenger ship rescue equipment industry, the paper sheds light on how supplier involvement in NPD projects with a high degree of technological uncertainty impacts on a company's sourcing strategies and the challenges this poses for purchasing.Based on the case study findings, we propose a) that early purchasing involvement in technologically uncertain NPD projects requires a mature purchasing organization that possesses competences to interact effectively with R&D and b) that involving a new supplier from a different industry in NPD projects characterized by technological uncertainty requires a leap of faith from both innovating firm and supplier. The paper contributes to research in early supplier involvement in new product development, in particular the thin branch within this body of literature that now focuses on early purchasing involvement.     

基于刺激-机体-响应（SOR）理论的推荐者社交网站效果研究

推荐者社交网站在提升消费者购买转换率方面起到了显著的作用。本文基于刺激-机体-响应（Stimulus—Organism—Response,S—O—R）理论模型,从消费者愉悦及唤醒两个方面,构建了推荐者社交网站影响消费者购买意向的概念模型,以揭示推荐者社交网站的作用机理。研究采用问卷调查的方法,研究表明,愉悦和唤醒均对消费者购买意向产生显著的正向作用;信息丰富度、客制化、视觉性对愉悦及唤醒分别产生显著作用,其中信息丰富化对唤醒产生了负向影响作用;经济性对愉悦产生了显著的正向作用,而对唤醒未产生显著作用。     

Resource Dependence and Network Relations: A Test of Venture Capital Investment Termination in China

This study examines how venture capital (VC) firms terminate investments in an emerging economy context. We contend that due to the weak institutional environment, it is appropriate to draw on insights from power and social relation perspectives for a better understanding of the phenomenon. Specifically, we argue that a termination decision hinges on not only the dependence relationship between a VC firm and its portfolio companies, but also the social relationships among VC firms. Event history analyses of approximately 12,000 VC deals made in China between 2001 and 2012 reveal that when a VC firm has a greater number of investments in an industry, it is more likely to terminate investments on a portfolio company in that industry. Moreover, such effect on termination is moderated by the focal VC's embeddedness with its syndicate partners and collaboration opportunities with other VC firms outside the immediate access of the syndicate partners. Our study sheds light on research on VC decision making in emerging markets by integrating insights from resource dependence relationships and interorganizational network characteristics.     

The role of strategic HR practices in organisational effectiveness: an empirical investigation in the country of Jordan

This study responds to the call of researchers, and is conducted in a non-western context in the country of Jordan. The study contributes to our understanding of human resource (HR) practices' impact on organisational effectiveness. The empirical analysis is based on theoretical prepositions that motivated employees through good HR practices stay longer and contribute positively to the overall financial performance of organisations. Rigorous statistical testing of the data on the population of financial firms shows that careful recruitment and selection, training and internal career opportunities have a positive impact on reducing employee turnover. Training, in particular, is found to have a strong positive impact on financial performance measured by return on assets and return on equity. Furthermore, the findings provide strong support for the direct approach in strategic HR management–performance research that a group of best HR practices will continuously and directly generate superior performance. Despite such compelling arguments, however, we did not find evidence to support the notion that a bundle of HR practices impact better on financial performance than individual HR practices. It is possible that the optimal configuration may not only be contingent on national context, but could be due to the sector and the specific characteristics of the firm.     

Green marketing as an environmental practice: The impact on green satisfaction and green loyalty in a business-to-business context

Many companies have developed a green marketing strategy, aimed at promoting and selling green environmental products. While the majority of articles on this topic report on studies in a business-to-consumer setting, this research focusses on the impact of green marketing strategies on the satisfaction and loyalty of professional buyers in a business-to-business setting. Hypotheses were tested with survey data from 148 Dutch professional purchasers in the cleaning industry. The results emphasize the impact and importance of product quality, product price and corporate image. The most notable and strong impact on satisfaction and loyalty was found for the salesperson expertise.     

Effects of a mileage tax for trucks

We evaluate the effect of the introduction of a mileage tax for trucks in Switzerland in 2001 on traffic volume and externalities. Using a regression discontinuity design, we find a reduction in overall truck traffic of around 4–6%, no effects on car traffic and time-shifted placebos, suggestive evidence for traffic substitution toward rail, and negative effects on nitrogen oxides at curbside monitors. Complementary estimates on the effects of the German mileage tax and complementary estimates based on the synthetic control method are broadly consistent with our main results, although the latter are not statistically significant. Depending on prevailing levels of transportation costs, mileage tax-induced transportation cost increases may accelerate or reverse spatial economic concentration processes. Such implications for economic geography featured prominently in Switzerland and are a promising area for future research.     

二元经济结构视角下民生性财政支出与消费关系研究

习近平总书记指出目前中国正处于新发展阶段,我们要加快构建新发展格局,扩大内需,刺激消费。在此背景下,论文依托中国2013-2019年31个省相关的统计数据,利用个体固定效应模型分析民生性财政支出各组成部分对城乡居民消费水平的共性和差异化影响。研究表明,环境保护和住房保障支出对于城乡居民消费水平都没有显著的作用,而教育支出、社会保障和就业这两项支出对城镇居民消费水平的作用较为显著,医疗卫生支出对农村居民来说是正向的。     

Optimal pest control in agriculture

Based on economic methodology we model an ecosystem with two species in predator–prey relationship: mice feed on grain and grain feeds on a resource. With optimizing behavior of individual organisms a short-run ecosystem equilibrium is defined and characterized that depends on the farmer's use of fertilizer and pesticide and on the mice population which, in turn, is affected by pesticides. In that way, a microfounded agricultural production function is derived. Linking a sequence of short-run ecosystem equilibria yields the growth function of the mice population which is thus derived rather than assumed. In each period the farmer harvests all grain in excess of some given amount of seed. If she maximizes her present-value profits, optimal farming is characterized by either using no pesticide or a moderate amount of pesticide or by applying a chattering control. Pest eradication is never optimal. On the other hand, if the farmer takes into account steady-state mice populations only, it may be optimal to eradicate mice or to use no or a moderate amount of pesticide depending on prices as well as on the shape of the grain production function which is determined by microparameters of grain reproduction.