National culture,leadership and citizenship: Implications for cross-cultural management

Continued globalization is raising the level of diversity within hospitality organizations as well as the likelihood that leaders will manage those from varying national cultures. Previous research has found that cultural congruence between leaders and stakeholders (i.e., from the same or different national cultures) impacts a variety of variables including perceived leadership style, satisfaction and trust. This study extends this line of research by investigating the relationship between cultural congruence, perceived leadership style, leader–member exchange (LMX) and employee citizenship behaviors. Using a highly diverse sample of 520 members of congruent and incongruent dyads from 66 countries working for 2 large cruise lines and 2 subsidiaries, multivariate analysis of variance (MANOVA) was used to test the relationships. It was determined that cultural similarity impacted employee perceptions of LMX relations and organization citizenship behaviors, but not leadership style. The results of the study provide strategies for cross-cultural management in the hospitality industry.     

The influence of managers' awareness of climate change,perceived climate risk exposure and risk tolerance on the adoption of corporate responses to climate change

Uncertainties posed by climate change limit companies' ability to understand implications of global warming on business and society at large, hampering the adoption of tangible organizational responses to climate change. Understanding climate action thus requires to investigate influential factors of decision-making under uncertainty, which implies acknowledging managerial interpretations and perceptions about climate issues. Drawing insights from the literature on climate inaction and from corporate sustainability literature, the present study examines awareness of climate change and perceived exposure to climate risks as antecedents of corporate responses to climate change, drawing on a survey of managers of Italian manufacturing companies. In addition, the study tests the moderation of risk tolerance on the relation between perceived climate risk exposure and climate action, suggesting that risk attitudes are a significant factor of decision-making under climate uncertainty. The results support the hypothesis of the model and thus provide several contributions to the literature on business and climate change. Managerial implications and avenues for future research are also discussed.     

Is Marx's absolute rent due to a monopoly price?

ABSTRACT

Absolute rent, in Marx's view, has an upper limit represented by the difference between the value and the price of production of agricultural commodities. The relevance of this limit was questioned by Bortkiewicz because of the difficulties concerning the argument which Marx based it on. The lack of this upper limit prompted some scholars to claim that there is no difference between absolute rent and a rent paid by a monopoly price. Referring to the classical/Marxian theory of monopoly price, we shall argue that it is still possible to distinguish absolute rent from a rent due to a monopoly price.     

Bayesian smooth-and-match inference for ordinary differential equations models linear in the parameters

Dynamic processes are crucial in many empirical fields, such as in oceanography, climate science, and engineering. Processes that evolve through time are often well described by systems of ordinary differential equations (ODEs). Fitting ODEs to data has long been a bottleneck because the analytical solution of general systems of ODEs is often not explicitly available. We focus on a class of inference techniques that uses smoothing to avoid direct integration. In particular, we develop a Bayesian smooth-and-match strategy that approximates the ODE solution while performing Bayesian inference on the model parameters. We incorporate in the strategy two main sources of uncertainty: the noise level of the measured observations and the model approximation error. We assess the performance of the proposed approach in an extensive simulation study and on a canonical data set of neuronal electrical activity.     

Effects of fiscal policy in the Northern and Southern regions of Italy

This paper contributes to a growing body of work within ‘fiscal policy studies,’ investigating the recent role of fiscal policy on the Italian economy. Using annual data collected on a regional basis, this study estimates and compares the (impact and cumulative) fiscal multipliers across the North and the South—the less developed area—of Italy. With recourse to a simultaneous equation model for the two macro-areas of Italy, it estimates the overall impact of the measures of budget consolidation policies during the period 2011–2013. Our analysis reveals that tax increases and, with a greater impact, spending cuts, hit the South harder compared to the North.     

Real Wicksell Effect,Demand for Capital and Stability

The aim of this paper is to study the relationship between reverse capital deepening and instability of the equilibrium between investments and savings. It is shown for a model with n commodities, infinitely many linear technique of production, and overlapping generations that a badly behaved real Wicksell effect, as in the case of a ‘reswitching of techniques’, can involve instability.     

ON THE SECOND STAGE OF THE CAMBRIDGE CAPITAL CONTROVERSY

The second stage of the Cambridge capital controversy concerns the neo‐Walrasian theory of value and distribution. Since production is not understood in this theory as employing factors of production but rather commodities, that is goods and services with date and place of delivery, some scholars maintained that it is not affected by the problems that emerged, during the first stage of the controversy, as regards the conception of capital as a factor of production and the rate of interest as the price for its use. The reply of the ‘neo‐Ricardians’ was based on two arguments. The first regarded the relevance of the new notions of equilibrium adopted in the neo‐Walrasian approach, with particular reference to temporary and Arrow–Debreu equilibria, and the second the possibility that the phenomena of re‐switching and reverse capital deepening, by affecting the working of the saving‐investment market, could cause equilibrium multiplicity and instability also in a neo‐Walrasian framework.     

ECONOMIC GENERALITY VERSUS MATHEMATICAL GENERICITY: ACTIVITY‐LEVEL INDETERMINACY AND THE INDEX THEOREM IN CONSTANT RETURNS PRODUCTION ECONOMIES

When the mathematical concept of genericity was arrived at in economics, it was meant more or less as a synonym for generality. Referring to constant return production economies, we will argue that this is not always the case. In particular, the representation of technology that is mathematically generic is not at all general for economists. We will see that in cases that are economically general, but not mathematically generic, activity‐level indeterminacy may occur. In these cases, Kehoe's index theorem, a well‐known result of the application of the differentiable approach to production economies, becomes unusable.