Housing tenure and labor market impacts: The search goes on

We develop two search-theoretic models emphasizing firm entry to examine the Oswald hypothesis, the idea that homeownership is linked to inferior labor market outcomes, and compare their predictions to three extant theories. The five models have surprisingly different predictions about the labor market at both the aggregate and micro levels. Using a suitable instrumental variable strategy, we estimate both micro and aggregate level regression models of wages and unemployment and compare the estimates to those predictions. We find that while homeowners are less likely to be unemployed, they also have lower wages, all else equal, compared to renters. In addition, higher regional homeownership rates are associated with a greater probability of individual worker unemployment and higher wages. The outcome of a horserace between our new search-theoretic models is mixed—the wage-posting model predicts observed unemployment impacts while a bargaining variant does a better job explaining observed wages and aggregate labor market outcomes. Overall, we conclude that firm behavior is important for understanding the labor market impacts of homeownership. Because this is the case, regional homeownership rates are not good instruments for individual tenure choice in empirical work. And while individual homeowners may have inferior labor market outcomes as compared to renters, from the viewpoint of society, higher homeownership rates may result in greater job creation and overall production, among other benefits.     

Gender diversity and firm performance: evidence from Dutch and Danish boardrooms

Drawing on the business case for gender diversity, this article examines whether board gender diversity has a positive effect on firm performance, based on evidence from the Netherlands and Denmark. We use empirical data on 186 listed firms observed in 2007. Almost 40% have at least one woman in the boardroom. Within boards, the average share of women is only 5.4%. To investigate the impact of board gender diversity, two-stage least-squares estimation is applied, using Tobin’s Q as a measure of performance. Our findings indicate that on the basis of this data-set, there is no relation between board diversity and firm performance.     

In search of an administrator

When you go in search of an administrator, set your aims as high as possible, but remember that what constitutes a good administrator in another organization may not be exactly the person who fits best into your organization—analyze your own needs as closely as your candidates' administrative qualities, and determine the mix of these characteristics that will work best for you: intelligence, imagination, technical knowledge, verbal skill, humor, adaptability, ambition, aggressiveness, and discipline.     

In search of legitimacy: personnel management associations worldwide

In considering the development of the HR ‘profession’, there has been little exploration of the role of the professional association. This is particularly true looking across national boundaries, raising questions about the impact and extent of homogeneity of personnel management association activities. It is argued that professional associations have a legitimising role to play in establishing a specialist body of knowledge, regulating practice and providing a source of internal and external identity for practitioners. A recent worldwide survey of personnel management associations found that, although associations are active in these areas, there is a lack of mandatory control and regulation across the profession, diluting the legitimacy accorded by such activities. Association activities were also found to be largely generic across countries, resulting from inter‐association collaboration, although different contexts result in different outcomes.     

A semantics-based method for clustering of Chinese web search results

Information explosion is a critical challenge to the development of modern information systems. In particular, when the application of an information system is over the Internet, the amount of information over the web has been increasing exponentially and rapidly. Search engines, such as Google and Baidu, are essential tools for people to find the information from the Internet. Valuable information, however, is still likely submerged in the ocean of search results from those tools. By clustering the results into different groups based on subjects automatically, a search engine with the clustering feature allows users to select most relevant results quickly. In this paper, we propose an online semantics-based method to cluster Chinese web search results. First, we employ the generalised suffix tree to extract the longest common substrings (LCSs) from search snippets. Second, we use the HowNet to calculate the similarities of the words derived from the LCSs, and extract the most representative features by constructing the vocabulary chain. Third, we construct a vector of text features and calculate snippets’ semantic similarities. Finally, we improve the Chameleon algorithm to cluster snippets. Extensive experimental results have shown that the proposed algorithm has outperformed over the suffix tree clustering method and other traditional clustering methods.     

Reconstructing british rail: In search of a profitable railway

The objective of a profitable British Rail might be achieved by a segregation of its operating services and its permanent way (infrastructure). In the absence of a system of road pricing, only the operating services have the potential to be profitable. A segregation of railway operating services and infrastructure is also supported by an examination of fundamental characteristics of all modes of transport. While operating services exhibit the characteristics of competitive markets, infrastructure tends to monopoly. The reconstruction of British Rail in this way would improve the provision of transport services, by allowing competitive market pressures to be exerted more fully.     

In search of relevance: Project management in drifting environments

It can be assumed that projects are designed to produce relevant outcomes. However, it cannot be assumed that originally intended outcomes will necessarily remain relevant over time. This article explores the challenges to project management that stem from the possibility of relevance becoming eroded in the course of implementation. Relevance can become eroded when the environment of a project starts drifting. This may happen if, for example, customers change their preferences, competitors their strategies or corporate management their commitments. Alternative strategies for coping with drifting environments are discussed.     

In search of demanded competencies: designing superior compensation systems

Employees' competencies are decisive components in a firm's competitiveness. Accordingly, the purpose of this paper is to assess whether differences in strategy influence employees' competencies and how the design of compensation systems may best take into account the competencies required by a firm. An analysis was conducted on a sample of manufacturing firms using structural equation models. The findings support the existence of generic competencies, such as results and customer orientation, which are found in both prospector and defender strategic contexts, while other competencies – such as innovation, technical expertise and adaptability – are specific to the prospector strategy. In relation to compensation, the results show that skill-based pay is more strongly associated with competencies such as innovation, technical expertise and adaptability, whereas performance-based compensation systems encourage result-based competency. Therefore, the design of a compensation system should be guided by the competencies required as part of a firm's strategy.     

In search of one set of categories

A method is described for transferring the categories as developed by several raters on the basis of the answers given to open-ended questions to one set of categories. This set covers all possible answers in an adequate way.     

In search of FDI horizontal spillovers in China: evidence from meta-analysis

Quality & Quantity - This paper contributes to the literature on foreign direct investment (FDI) technology spillover effects, focusing on horizontal spillovers from foreign firms to their...     

Forecasting GDP growth with NIPA aggregates: In search of core GDP

In addition to GDP, which is measured using expenditure data, the U.S. national income and product accounts (NIPAs) provide a variety of measures of economic activity, including gross domestic income and other aggregates that exclude one or more of the components that make up GDP. Similarly to the way in which economists have attempted to use core inflation—which excludes volatile energy and food prices—to predict headline inflation, the omission of GDP components may be useful in extracting a signal as to where GDP is going. We investigate the extent to which these NIPA aggregates constitute “core GDP.” In an out-of-sample forecasting exercise using a novel real-time dataset of NIPA aggregates, we find that consumption growth and the growth of GDP excluding inventories and trade have historically outperformed a canonical univariate benchmark for forecasting GDP growth, suggesting that these are promising measures of core GDP growth.     

In search of efficient network structures: the needle in the haystack

Searching for efficient networks can prove a very difficult analytical and even computational task. In this paper, we explore the possibility of using the genetic algorithms (GA) technique to identify efficient network structures in the case of non-trivial payoff functions. The robustness of this method in predicting optimal networks is tested on the two simple stylized models introduced by Jackson and Wolinsky (1996), for which the efficient networks are known over the whole state space of the parameters’ values. This approach allows us to obtain new exploratory results in the case of the linear-spatialized connections model proposed by Johnson and Gilles (Rev Econ Des 5:273–299, 2000), for which the efficient allocation of bilateral connections is driven by contradictory forces that push either for a centralized structure around a coordinating agent, or for only locally and evenly distributed connections. Murat Yıldızoğlu gratefully acknowledges the support of the CCRDT program of Aquitaine Region.     

In search of competence: aligning strategy and competences in the telecommunications industry

Competence management and management by competences are new concerns among academics and professionals. In this paper we argue that the most appropriate way to advance in the construction of a new managerial approach is by relating competence to the strategy of the organization. To make that operational we develop an analytical framework. Since competence has slightly different meanings in the North American and European literature, we first proceed to a revision of conceptual approaches. The analytical framework was empirically tested in a field survey conducted among companies in the Brazilian telecommunications industry.     

Socio-economic constraints on Jamaica''s stabilization efforts: the importance of supply-side programs

Recently, there has been considerable interest in alternative stabilization programs in developing countries. This paper examines the possibility of implementing this type of program in a country that traditionally has had considerable difficulty in complying with International Monetary Fund programs. The macro-economic simulations of Jamaica's economy clearly show that successful supply-side policies could have mitigated the adverse income effects of stabilization associated with the standard IMF approach to stabilization.     

In search of local autonomy: the politics of big cities in Russia's transition

Despite a series of local government reforms in the 1990s, Russia's localities still lack serious autonomy. Only big cities maintain hopes for the emergence of local autonomy and local democracy. City politics has produced multiple conflicts between regional and local authorities; however, regional‐local relations merely reflect fundamental center‐periphery controversies on a smaller territorial scale. While big cities and their metropolitan areas serve as centers of political, economic and social modernization, other regional areas are lost in the peripheries. During Russia's transition period, some large cities acquired more political and economic autonomy from regions than others did. This article concentrates on the crucial role of (1) political opportunities inherited from the late‐Soviet period; and (2) strategic choices of political actors in the post‐Soviet period. The constellation of initial conditions and outcomes of political conflicts have contributed greatly to the diversity of city politics and urban autonomy in Russia's cities. Finally, the article considers the possible impact of local autonomy in Russia's cities on national social, economic and political developments. Malgré la série de réformes des années 1990 sur les gouvernements locaux en Russie, les localités manquent toujours d'une véritable autonomie. Seules, les grandes villes espèrent encore l'avènement d'une autonomie et d'une démocratie locales. La politique urbaine a généré nombre de conflits entre autorités locales et régionales; ceux‐ci ne sont pourtant que le reflet de la polémique fondamentale entre centre et périphérie à une échelle territoriale réduite. Alors que les grandes villes et leur métropole concentrent modernisations sociales, économiques et politiques, le reste de la région se fond dans les périphéries. Pendant la Russie de transition, quelques grandes villes ont acquis davantage d'autonomie économique et politique que d'autres par rapport à leur région. L'article détaille le rôle crucial qu'ont joué, d'une part, les ouvertures politiques héritées de la fin du régime précédent et, d'autre part, les choix stratégiques des acteurs politiques de l'ère post‐soviétique. La pléiade de conditions initiales et de séquelles de conflits politiques a largement contribuéà diversifier les politiques urbaines et le degré d'autonomie des villes russes. Enfin, l'article aborde l'impact éventuel d'une autonomie locale des villes sur les évolutions sociales, économiques et politiques de la Russie.     

In search of management development in Europe: from self-fulfilling prophecies to organizational competence

This paper gives an overview and a critical analysis of the concept of High Flyer programmes in management development. Based on a discussion of the need for management development in modern knowledge- and service-based organizations, strengths and weaknesses of traditional management development programmes are discussed. In particular, the so-called ‘fast-track’programmes for high-potential employees are presented. This analysis shows that, although management development is supposed to be a vital contributor to organizational competence, learning, and change, High Flyer Programmes are (still) mainly an instrument for individual and personal career development. An alternative interpretation of management development is presented which emphasizes the match between personal growth and organizational learning and which links career, organization development and competitive advantage of the organization. In conclusion, implications for practice and research are discussed.

Quantitative results from the most recent Cranfield Network on European HRM Survey are presented and analysed.