The causal effects of organizational internal labor market on firm-specific learning – the mediating effect of willingness to internal transfer

While most of the research work addressed the internal labor market (ILM) issues from the aspect of internal and social equity point of view, our current research is, however, aimed to present the ILM model from the angle of learning the employees' firm-specific and job-specific skills. We took one step further to explore the determinants of firm-specific learning within the organizational ILM using three main criterion comprised of (1) job-related training, (2) advancement via sequence of jobs, and (3) long-term attachment to the organization. With a survey tackling the willingness to transfer internally among employees as our mediator, questionnaires were disseminated among the five traditional manufacturing industries selected in Taiwan. Our statistical results not only demonstrate the positive direct effects of all the dimensions of ILM on firm-specific learning, but also testify the indirect positive effects of ILM through willingness for internal transfer on firm-specific learning.     

Why is the West unique in linking religiosity to market friendliness?

The Integrated Values Survey shows that the positive relationship between religiosity and market friendliness is a uniquely Western feature. With the help of public choice theory, the author hypothesises that this Western uniqueness is the result of the way the dimensions of political ideologies are formed in the West. The hypothesis is supported by regressing an index of market friendliness on a religiosity index, political identity, and a measure of ‘ideological capital’. Accounting for the latter two, the positive association of religiosity with market friendliness vanishes, even in the West.     

The role of the seller’s stock performance in the market reaction to divestiture announcements

Divestitures have the potential to create shareholder value. However, the extent of the market reaction should depend on the likelihood of finding more valuable uses for the divested assets or the ability on the part of the seller to eliminate negative synergies. We hypothesize that strong performers have less scope to achieve substantial improvements compared to poorly performing firms. Using the seller’s stock return in excess of the market return in the 1-year and 2-year periods preceding the divestiture announcement to expose the divesting firm’s inefficient use of its assets, we show that the market reaction to divestiture announcements is significantly higher for underperforming firms. The difference in abnormal returns can be as high as 4 %. In contrast, none of the accounting-based variables that have been used in previous studies are found to be significantly related to the announcement returns. These results suggest that the firm’s stock performance is a more useful indicator of the wealth effect associated with divestitures.     

Changes in labour supply and their impacts on human resource management: the case of Japan ∗

The paper examines some important developments that are taking place on the supply side of the Japanese labour market. The major themes addressed include the impact of ageing on the structure of employment and the increasing participation of women in the labour force. The paper considers in some detail the various policy responses taken, by government through legal intervention and by firms employing specific human resource management strategies, to address these issues. It also observes that supply side needs will have a significant future impact on what might be termed traditional personnel practices in Japan.     

Prospect theory and risk appetite: an application to traders’ strategies in the financial market

According to behavioral finance theories, in this article we develop a dynamic model with heterogeneous traders, where the asset price is determined by the interaction among four different groups of agents: trend reversers, trend followers, risk averters and risk seekers. The main purpose of the study is centered on modeling and testing how the market efficiency changes along with the changes of agent’s behavior preference without exogenous influence. Combining with the assumption of risk appetite and prospect theory, focusing on analyzing the rules for selecting strategies, we establish a more reliable and comprehensive dynamic mechanism. In particular, our study suggests that diversified trading strategies will help to realize market efficiency.     

Impact of the Great Recession on unemployed and NEET individuals’ labour market transitions in Ireland

The impact that the Great Recession has had on countries’ labour markets has been well documented. In Ireland, the contraction in economic activity that took place resulted in the country's overall unemployment rate increasing from 4.6% in 2006 to 15% in 2012. The country's youth unemployment rate rose from 9.9% to 33% over the same time period, while the proportion of NEETs increased from 10.1% in 2006 to 18.7% in 2012. Policymakers are aware of the unemployment rates of young and prime-aged people as well as the NEETs rate. However, little is known about these groups’ profiles, whether their profiles have changed since the recession and also their labour market transition patterns pre and post the Great Recession. Given the importance of this information in the design of effective activation measures to assist unemployed and NEET individuals, this paper examines each of these issues in turn. Overall, the study found for all three groups examined that the rate of transition to employment fell dramatically between 2006 and 2011. The analysis showed that the drop in the groups’ transition rates was not due to changes in the underlying sub-group population structures but to changes in the external environment that resulted in the impact of possessing certain characteristics changing over the recession. For example, education and nationality have become more important in finding a job in Ireland over the course of the recession, while there has been a fall in the scarring impact of unemployment durations.     

The impact of Greek labour market regulation on temporary employment – evidence from a survey in Thessaly,Greece

This paper uses an original data-set for 186 workplaces in Thessaly (central Greece), to study consequences of Greece's strict employment protection law (EPL) and national minimum wage for temporary employment. We find higher temporary work contract rates among workplaces that pay low wages close to the minimum. We also find that EPL ‘matters’, in particular, managers who prefer temporary contracts because temporary workers are less protected definitely employ more. Our findings thus support the view that a firm's HRM decisions regarding internal versus external allocation of tasks are influenced by labour regulation.     

‘Surfing on the ironing board’ – the representation of women's entrepreneurship in German newspapers

Despite extensive attempts to enhance women's entrepreneurship in Germany, a gender gap continues to exist. This article sets out to analyse the representation of women's entrepreneurship in German media, by analysing how it is depicted in newspapers and how this changes over time. Images transported in media might regulate the nature of women's entrepreneurship, as they contain information about ‘typical’ and ‘socially desirable’ behaviour of women as well as of entrepreneurs. This article contributes to developing an understanding of the relevance of media representation of the entrepreneurship phenomenon for influencing the propensity towards entrepreneurial activity.     

Manager impacts on worker performance in American football: Do offensive coordinators impact quarterback performance in the National Football League?

Ample research in nonsports labor markets suggests that managerial quality significantly impacts worker productivity; however, studies using sports data have been less likely to find such evidence supporting the importance of managers/coaches. We examine the impact of offensive coordinators on quarterback performance in football. While we find that various offensive coordinator characteristics have little impact on quarterback performance, we show that individual offensive coordinators do seem to play a role in quarterback development. Consistent with research on manager effects outside of sports, this suggests that elite and poor offensive coordinators do significantly impact the productivity of the quarterbacks they manage.     

The Impact of the EU–US Open Skies Agreement and the Resulting British Airway's Open Skies Initiative: Passenger Numbers in London,Amsterdam and Paris

Abstract

The advent of the EU–US Open Skies Agreement has been widely anticipated. A number of consequences have been predicted, for example, impacts on fares, passenger volumes, choice and consumer welfare. Airline costs are also predicted to fall as a result of increased competitiveness and increased cooperation among airlines. For the short period since the implementation of the Agreement, it is relatively easy to assess the supply-side changes that have been made, but more difficult to make wider judgements. This paper indicates the data that will be required to make these judgements and notes some methodological difficulties. Early estimates of the impact on passenger numbers are given using time series analysis focusing on London airports, in particular London Heathrow and airports served by British Airway's Open Skies Airline from Paris Orly and Amsterdam Schipol.

Impact de l'accord Ciel Ouvert entre l'UE et les États-Unis et de l'initiative Open Skies résultante de British Airways: nombre de passagers à Londres, Amsterdam et Paris

Résumé L'avènement de l'accord Ciel ouvert entre l'UE et les États-Unis avait été très largement prévu, et on a prédit un certain nombre de conséquences, notamment l'impact sur le prix des billets, sur les volumes de passagers, sur le choix pour les consommateurs et sur leur bien-être, entre autres. On prévoit également que les coûts des compagnies d'aviation devraient baisser, en conséquence de l'augmentation non seulement de la compétitivité, mais aussi de la concurrence entre les compagnies. A l'issue de la courte période qui s'est écoulée depuis l'implémentation de l'Accord, il est relativement aisé d’évaluer les variations qui se sont produites du côté de l'offre, mais beaucoup plus difficile de formuler des opinions plus générales. La présente communication indique les données qui seront requises pour formuler ces jugements, et souligne certaines difficultés sur le plan de la méthodologie. Des premières évaluations de l'impact sur le nombre de voyageurs ont été avancées, sur la base d'analyses à série temporelle concentrées sur les aéroports de Londres, notamment l'aéroport Heathrow de Londres et les aéroports desservis par la compagnie Open Skies de British Airway entre Paris Orly et l'aéroport Schipol d'Amsterdam.

El efecto del Acuerdo de Cielos abiertos entre la UE y EE.UU. y el resultado de la Iniciativa de Cielos abiertos de British Airways: número de pasajeros en Londres, Ámsterdam y París

Resumen El advenimiento del Acuerdo de Cielos abiertos entre la EU y EE.UU. era algo ampliamente esperado. Se han pronosticado muchas consecuencias, por ejemplo, los efectos sobre las tarifas, los volúmenes de pasajeros, las opciones y el bienestar de los consumidores. También se ha pronosticado la caída de los costes de las aerolíneas debido a una mayor competitividad y el incremento de la cooperación entre las aerolíneas. En el corto periodo de implantación del Acuerdo, es relativamente fácil evaluar los cambios que se han dado en el lado de la oferta, sin embargo, es más difícil realizar estimaciones mayores. Este trabajo indica que se necesitan datos para realizar estas estimaciones y hace referencia a algunas dificultades metodológicas. Los primeros estimativos del efecto sobre los números de pasajeros se han obtenido mediante análisis de series de tiempo centrados en los aeropuertos de Londres, en particular, el de Heathrow, y en los aeropuertos atendidos por la Aerolínea de Cielos abiertos de British Airways de Orly, en París, y Schipol, en Ámsterdam.

     

Demolishing the Present to Sell off the Future? The Emergence of ‘Financialized Municipal Entrepreneurialism’ in London

This article introduces a new mode of urban entrepreneurialism in London through a study of the state‐executed, speculative development and financialization of public land. In response to an intensifying housing crisis and austerity‐imposed fiscal constraints, municipalities in London are devising entrepreneurial solutions to deliver more housing. Among these ‘solutions’ can be found the early signs of the state‐executed financialization of public housing in the UK with the use of speculative council‐owned special purpose vehicles (SPVs) that replace existing public housing stock with mixed‐tenure developments, creating ambiguous public/private tenancies that function as homes and the basis for liquid financial assets. Drawing together parallel literatures on the financialization of urban governance and housing, and combining these with original empirical research, we situate these developments in contrast to earlier modes of governance, identifying a distinct mode of entrepreneurial governance in London: financialized municipal entrepreneurialism. The local state is no longer merely the enabler—limited to providing strategic oversight of the private sector—but financializes its practice in a reimagined commercialized interventionism, as property speculator. This article concludes that while the architects of this new mode of entrepreneurialism extol the increased capacity and control it provides, any such gains must be set against longer‐term financial, democratic and political risks.     

To eat or to be eaten–on the role of entrepreneurship in the Norwegian telecom access sector

The purpose of this paper is to analyse mechanisms of evolution by studying a population of firms involved in the provision of telecom access in Norway after the liberation of the telecom sector during the 1990s. The approach is based on a combination of theory on entrepreneurship and theories on sectoral innovation systems, in particular the role of entrepreneurship under different technological regimes. By analysing the role of different actors in the market for telecom access, the relationship between the previous state monopolist Telenor and other companies entering the market is discussed. The main conclusion is that Telenor, in spite of the liberalization of the telecom market, still is in a very dominant position in the markets for access provision. To the extent that Telenor is challenged, it is basically by other existing telecom companies. By the time of finalizing this paper (2006), none of the entrepreneurial firms have survived as independent firms. The main conclusion deriving from this analysis, is that the telecom access sector is characterized by the routinized regime, in which the larger, established firms are the dominant players. However, this does not mean that entrepreneurs do not play important roles. By starting their new ventures, entrepreneurs are challenging the positions of the incumbents; they are contributing to more competition and innovation. Without the pressure from the entrepreneurial entrants, the level of innovation in the sectoral system would have been significantly lower.     

Keeping the “T” in the WTO: where to next on environment and labor standards?

Agreement on a new trade Round depends partly on reassuring voters that it will contribute to better environmental protection and more social justice. That argument should be won comfortably. Increased international trade is a powerful tool for tackling poverty—the single biggest cause of environmental degradation and social misery world-wide—and many individual trade restrictions have direct, negative, environmental and social effects. Proposals to punish irresponsible environmental and social behavior through the WTO are a much more doubtful prospect. Without the underpinning of universally accepted environmental and social standards, trade restrictions are the wrong policy tool to use.     

The caring hand that cripples? The effects of the European regional policy on local labour market participation in Southern Italy

The European Regional Policy supports the most disadvantaged regions of the EU, aiming to foster a long-run convergence process. Between 2007 and 2013, the EU devoted substantial resources to low-income convergence regions, covering about one quarter of the EU population. Like other disadvantaged areas, Southern Italy received conspicuous funding. This work attempts to evaluate the effect of the intensive funding on local labour market participation across the convergence regions of Southern Italy, using a Diff-in-Diff identification strategy in a Dynamic Spatial Framework. An element of strength in this study is represented by the NUTS-3 dataset employed, drawn from official records. Controlling for socio-economic covariates, autoregressive components and spatial spillovers, the results obtained show a negative impact of the intensive EU funding on labour market participation. Many reasons may account for this phenomenon, ranging from poor targeting and monitoring, to the distortionary effects of the funds, to the strategic behaviour of the national government.     

Committed to the organization or the job? Effects of perceived HRM practices on employees' behavioral outcomes in the Japanese healthcare industry

This paper attempts to document how employees' perceptions of organizations' human resource management (HRM) practices influence their work behavior and outcomes, including the level of turnover intentions and job quality improvement, in a Japanese organizational and management context. In particular, an examination was made to clarify the mediating role of person–environment (P–E) fit and multiple aspects of work commitment to reach possible explanations of the relationships between perceived HRM practices and employees' behavioral outcomes, following recent work that studied the above linkages. The results of structural equation modeling using a sample of 1052 healthcare service employees in Japan provided basic support for the idea that the effects of HRM practices and employees' behavioral outcomes are neither direct nor unconditional. Moreover, employees' evaluations of their fit and commitment to their organizations were found to be the important mediators of the relationships between perceived HRM practices, while their evaluations of their fit to and involvement in their jobs were not. The findings are used to discuss why the specific forms of P–E fit and work commitment appear salient in Japanese organizations. The generalizability of the findings and the limitations of the study are discussed.