How do stock prices respond to fundamental shocks in the case of the United States? Evidence from NASDAQ and DJIA

In this paper, we use both the Dow Jones and NASDAQ indices to test the robustness of Binswanger's (2004c) finding that US stock market dynamics are governed mostly by nonfundamental shocks or speculative bubbles after the 1982 debt crisis. We estimate a total of 72 SVAR models and 36 SVECM models. We determine that the findings are robust indeed and that fundamental shocks have become less and less important over the years, irrespective of which US stock market index is considered.     

How different are the regional factors of high-tech and low-tech start-ups? Evidence from Japanese manufacturing industries

This paper analyzes regional determinants of the start-up ratio in the Japanese manufacturing sector. A major contribution of this study is the comparison between high-tech and low-tech industries. The empirical results using a sample of 253 industrial districts suggest that business density, weight of the manufacturing sector, and the average business size significantly influence the start-up ratio in both high-tech and low-tech industries. Distinct differences between these industries were found with regard to the effects of human capital, research institutes, and the weight of high-tech industries.

How are internally oriented HRM policies related to high-performance work practices? Evidence from Singapore

This examination of policies relating to the internal cultivation of human resources and high-performance work systems among a sample of Singapore-based organizations shows that the HRM practices under consideration reflect three distinct dimensions: internal staffing, employee development, and employment stability. Of the three dimensions, only employee development was significantly and positively related to high-performance work systems. Contrary to the arguments in the literature relating to internal labour markets, mutual commitment HRM, and high-performance work systems, policies involving internal staffing and employment stability were not found to be necessary components of the internally oriented HRM package.     

What makes the clock tick? Time,populations, voters,and votes for the president in the United States

Our present analysis expands on the number of theoretical disciplines involved in the explanation of votes to presidential races in the United States. We do so by replacing the theoretically thin trend variable, previous studies have used, with the demographic factor.The demographic factor, which is obviously highly statistically correlated with the non-theoretical time trend, was hypothesized to have a significant impact upon partisan popularity and presidential races. As the demographic growth is due mostly to immigration and naturalization, and natural growth, especially among the poor, one would expect the growth to be beneficial to Democrats.     

Diffusion and spatial equilibrium of a social norm: voting participation in the United States, 1920–2008

Social conformity can spread social norms and behaviors through a society. This research examines such a process geographically and over time for voting, which is strongly influenced by the norm that citizens should vote. A mathematical model for the spread of voting participation under the influence of social conformity is developed based on the diffusion equation, and predictions are tested with spatial analysis of state-level voter turnout in American presidential elections from 1920 to 2008. Results show that voter turnout has converged to a stable equilibrium in its geographical distribution across the states—but it is an equilibrium that results in persistent differences at the state level. Results are compared to individual-level and agent-based models. The model may be applied to other types of social diffusion that depend on specific geographical location.     

What drives market construction for fair trade,organic, and GlobalGAP certification in the global citrus value chain? Evidence at the importer level in the Netherlands and the United States

Because national governments have limited power to regulate the conditions of production abroad, voluntary certification schemes have come to play a significant role in transnational regulation of many global supply chains, particularly in the food sector, where multiple regulatory issues are in play and different certification schemes compete. However, we still know relatively little about the political-economic factors that shape the construction of certified citrus markets for these competing standards. Based on an original dataset from a comparative survey of US and Dutch importers, this paper investigates factors that shape the construction of certification markets for citrus, focusing on the construction of markets for different kinds of certification schemes including Fair Trade, Organic, and GlobalGAP certification. The paper investigates from a comparative perspective whether the construction of markets differs across the US and Dutch political economies. The results show both the enduring effects of national political economies and the importance of global value chain dynamics. Across competing schemes, the industry-sponsored business-to-business certification systems have outcompeted consumer-facing label systems.     

When do corporate social responsibility initiatives impact on customer-facing employees? Evidence from India and the Netherlands

The vast majority of the extant literature on corporate social responsibility (CSR) has focused on the macro (firm) level of analysis by examining the linkage between CSR and firm-level outcomes. As such, very few studies have focused on the micro (individual) level of analysis. Against this backdrop, the present study focuses on the individual level of analysis thereby contributing to the emerging psychology of CSR literature, which considers employees' perceptions of their employing organizations' social actions as more important than organizations' objective CSR performance (Rupp, Shao, Thornton and Skarlicki (2013), ‘Applicants’ and Employees’ Reactions to Corporate Social Responsibility: The Moderating Effects of First-Party Justice Perceptions and Moral Identity,’ Personnel Psychology, 66, 895–933). Moreover, the study is one of the first examining the role of context in employee attitudes toward CSR. In particular, it builds on the psychology of CSR (e.g. Rupp et al. 2013) literature to propose a research framework that delineates the moderating effects of satisfaction with payment, satisfaction with the job itself and individualism in the relationship between corporate social performance (CSP) perceptions and customer-facing employees' behavioral outcomes. Data are collected from customer-facing employees in two major organizations in the Netherlands and India. Results suggest a complex interplay between CSP perceptions and the two facets of job satisfaction, and that national context is likely to moderate the contingent effects of CSP perceptions on customer-facing employees' behavioral outcomes.     

Is the Quarter of Birth Endogenous? New Evidence from Taiwan,the US,and Indonesia

Recent evidence based on US data suggests that the quarter or month of birth (QOB or MOB) may be endogenous, since family characteristics can explain up to 50% of the effects of QOB on the education outcomes and earnings of adult males. In this study, based on a sample of one million Taiwanese siblings, we examine university admission at age 18 as our outcome variable and find that at school entry, the oldest (September born) children are 31–38% more likely to be admitted into university at age 18 than the youngest (August born) children, indicating strong seasonality in university admission. The inclusion of controls for family background is found to explain only a small portion of these effects, particularly for males. Given that such results are at odds with the recent US evidence, we revisit the US Census data and find that when racial differences are properly controlled for in the estimation, even a rich set of family characteristics is capable of explaining only a minor proportion of the QOB effects. Furthermore, using data from the US and Indonesia, we find that seasonal temperature variation is unlikely to be an important contributor to the US‐Taiwan disparity. Our findings imply that the validity of using QOB or MOB as an instrumental variable may be dependent on the population being studied and the sample selected.     

How do social scientists use link data from search engines to understand Internet-based political and electoral communication?

As link data become more available from search engines, the data can play an important role in understanding socio-political activities in cyberspace. However, the majority of social scientists have not engaged in link data collection, transformation, and analysis to perform research using publicly available search engines. This article offers two case studies of Internet-based political and electoral communications conducted in Korea, where online communication is among the most well-established in the world. These cases reveal that link data collected from search engines have several merits for political communication research, including inexpensive access to web resources and ease of use. However, link data have some weakness, such as reliability issues: internal algorithms are not made in public and there are inconsistencies among search engines. This article examines the two case studies to draw conclusions about the use of link data drawn from search engines for research purposes.     

How do trade openness,public expenditure and institutional performance affect unemployment in OIC countries? Evidence from the DCCE approach

This study explores the relationship between trade openness, public expenditure, institutional performance, and unemployment in member countries of the Organization of Islamic Cooperation (OIC) (formerly the Organization of the Islamic Conference). The conventional panel data techniques overlook cross-sectional dependence and yield-biased results. A new methodology called dynamic common correlated effects (DCCE) is employed to deal with the issue of cross-sectional dependence. The long-run results demonstrate that trade openness is inversely and significantly associated with overall unemployment and youth unemployment in lower-income as well as all the OIC economies and positively correlated in the higher-income OIC group. Public expenditure has an inverse and significant correlation with unemployment in OIC countries overall and higher-income OIC countries. Moreover, institutional performance and foreign direct investment are negatively related to unemployment in all OIC economies. The research shows the need for the continuation of open trade policies, strong institutions, and higher public expenditure in the OIC countries in order to decrease overall unemployment—in particular, youth unemployment.     

Correction to: Do macroeconomic and financial governance matter? Evidence from Germany, 1950–2019

Journal of Economic Interaction and Coordination - A Correction to this paper has been published: 10.1007/s11403-022-00356-7     

How are newspaper companies using social media to engage and connect with their audiences? characteristics and forms of Korean newspapers’ YouTube use

The present study classifies the characteristics of YouTube use by South Korean newspapers in terms of both “local proximity” and “reported them” of news content. Several kinds of data related to news production and consumption were collected from the opening of the YouTube account to October 11, 2012. Findings suggest that news content strategies for YouTube are different across newspapers. National newspapers are likely to perceive YouTube as a new medium, whereas local newspapers tend to perceive it as an extension of the existing newspaper. The results also reveal that YouTube strategies based on strongly partisan or critical reports or oppositional parodies can work better than those providing a diverse and universally appealing range of content.     

Measuring the Returns to Networking and the Accumulation of Social Capital: Any Evidence of Bonding,Bridging, or Linking?

This article presents analyses of individual investment in social capital using both the British Household Panel Survey (BHPS) and the UK Time Use Survey (2000) (UKTUS). We suggest a general theoretical framework that could possibly explain individual investment in various forms of social networking. Measures of social capital are then constructed in an attempt to capture the extent of individual investment in bonding, bridging, and linking networks. These measures, together with other socioeconomic indicators, are used as explanatory factors in wage equations, estimated using ordered probit, OLS, and instrumental variable approaches. We are unable to identify any consistent returns from investment in bonding and bridging networks. In contrast, the evidence suggests that any returns to investment in the development of linking social capital simply derive from the positive signals that group membership may transmit to potential employers. Our results underline the contrast between studies that consider social capital as an attribute of communities, as opposed to individuals, in that we find a negative return to social activity at the level of the individual.     

Using the past to map out the future of occupational health and safety research: where do we go from here?

Abstract

The purpose of this study is to take stock of the extant research on occupational health and safety (OHS) with the aim of identifying gaps and mapping out a future research agenda for human resource management (HRM) scholars. A comprehensive review of OHS research from 1956 to 2019 was first conducted. A total of 564 articles from 17 leading journals were then identified and categorized into five distinct, yet inter-related, themes: (1) antecedents and work-related factors influencing OHS; (2) industrial policy and regulations surrounding OHS; (3) OHS management practices; (4) approaches to, and models of, managing OHS and (5) outcomes of OHS management. The review also discusses OHS research methodologies and design foci. Overall, we found that OHS research is poorly integrated into the field of HRM, and we identify a plethora of opportunities for HR researchers to add value to this field of research. A future agenda is formulated, encompassing new OHS theory-building, novel directions for empirical research, and innovations in research design and methodology.     

How does(n't) Urban Shrinkage get onto the Agenda? Experiences from Leipzig,Liverpool, Genoa and Bytom

This article discusses the question of how urban shrinkage gets onto the agenda of public‐policy agencies. It is based on a comparison of the agenda‐setting histories of four European cities, Liverpool (UK), Leipzig (Germany), Genoa (Italy) and Bytom (Poland), which have all experienced severe population losses but show very different histories with respect to how local governments reacted to them. We use the political‐science concepts of ‘systemic vs. institutional agendas’ and ‘policy windows’ as a conceptual frame to compare these experiences. The article demonstrates that shrinkage is hardly ever responded to in a comprehensive manner but rather that policies are only implemented in a piecemeal way in selected fields. Moreover, it is argued that variations in institutional contexts and political dynamics lead to considerable differences with regard to the chances of making shrinkage a matter of public intervention. Against this background, the article takes issue with the idea that urban shrinkage only needs to be ‘accepted’ by policymakers who would need to overcome their growth‐oriented cultural perceptions, as has been suggested in a number of recent writings, and calls for a more differentiated, context‐sensitive view.     

Can the theory of planned behaviour explain walking to and from school among Australian children? A social marketing formative research study

Evidence indicates that lower levels of obesity among school‐age children can be achieved through active travel to school. This research aimed to investigate the explanatory potential of constructs in the theory of planned behaviour for carers' decisions about their children's walking to and from school. The data from two online surveys of 1,076 carers in 2 Australian states showed that the theory of planned behaviour explained 35.7% of the variance in walking to and from school. The results indicate that higher perceived behavioural control, social norms, and intentions among carers are associated with higher incidence of walking to and from school by children in Australia. Limitations of the current study and future research directions are outlined.     

Why don't we see more action? A metasynthesis of the investor impediments to integrate environmental,social, and governance factors

Investors increasingly commit to consider environmental, social, and governance (ESG) factors in their investment decisions. However, the challenges of investors for a holistic integration of ESG factors in their investment decisions are manifold and endanger reaching urgent societal goals. The paper uses metasynthesis to develop a comprehensive understanding of these impediments from a diverse set of papers. Supported by textual analysis, it identifies 161 different topics, which are subsumed within groups and aggregated along a four‐pillar framework of market‐, firm‐, regulatory‐, and individual‐based impediments. The most prominent impediments are found in the areas of a perceived lack of a business case, the quality of data, the absence of clear standards and definitions, and various behavioral biases. Moreover, a considerable research–practice gap in framing the relevant research questions that contribute to the slow‐moving integration process is discovered. Focusing additionally on potential blind spots on the investor and research sides will prove to be important for swifter ESG integration.     

Circular economy,the transition of an incumbent focal firm: How to successfully reconcile environmental and economic sustainability?

Circular economy (CE) has garnered increasing attention in political circles and practitioner literature thanks to its potential to overcome the harmful consequences of linear patterns of growth. Nonetheless, the adoption of sustainable practices entails a holistic approach requiring businesses to make significant changes to their production, technologies and stakeholder management. These challenges resulted in limited progress in terms of the practical implementation of CE. This paper addresses the need for more literature focused on the pragmatic aspects of applying this paradigm to incumbent firms. The author presents the journey that Lucart S.p.A., a major European tissue paper manufacturer, has undertaken between 2014 and 2020 to apply CE principles to its practices. Insights from the transformation process, reconstructed through interviews with the firm's management and environmental impact data, suggest that to succeed it takes innovating (plants, products and marketing strategies) and setting up supply chains that reconcile environmental and economic sustainability.