Determinacy of equilibrium outcome distributions for zero sum and common utility games

We show the generic finiteness of probability distributions induced on outcomes by the Nash equilibria in two player zero sum and common interest outcome games.     

Corporate Environmental Citizenship Variation in Developing Countries: An Institutional Framework

This study focuses on why some companies in developing countries go beyond environmental regulations when implementing their corporate environmental social responsibilities or citizenship behavior. Drawing mainly upon the new institutional theory, this study develops a conceptual framework to explain three institutional factors: companies’ market orientations, industrial characteristics, and corporate identities. Accordingly, we suggest that companies from developing countries that are oriented to markets in developed countries, operate in highly concentrated industries, and have missionary identities adopt corporate environmental citizenship behavior by going beyond environmental regulations. The study also discusses the theoretical, policy, and managerial implications of the conceptual framework.     

Legitimacy building strategies in conditions of discretionary legal enforcement: A logic of social action approach

The present study explores strategies used to legitimize the transfer of organizational practices in a situation of institutional upheaval. We apply the logic of social action (Risse, 2000) to analyze the effectiveness of consequence-based action and communication-based action, in terms of higher coordination, lower conflict, and overall higher economic performance. Consequence-based legitimation is obtained by using a system of distributor incentives tied to performance of specific tasks, while communicative legitimation can be achieved by recommendations and warnings. Our setting is an export channel to European emerging economies. Our results indicate that in the absence of legitimacy, as manifested in discretionary legal enforcement, consequence-based legitimation is more effective than communicative legitimation in reducing conflict, increasing coordination, and ultimately in improving the performance of the export dyad.     

Output–employment relationship across employment status: evidence from Turkey

This paper investigates output–employment relationships across different employment statuses and formal versus informal employment divisions for Turkey. Even if we fail to find a long-run relationship between aggregate output and total employment, there are long-run relationships between the aggregate output with all of the formal employment statuses. A further investigation for short-run relationships reveals no statistically significant relationships between aggregate output and total employment and between aggregate output and casual employment but there is a significant short-run relationship between aggregate output and total regular employment. Thus, a sustainable economic growth policy should aim to create formal and regular employment.     

Sovereign debt and corporate borrowing costs in emerging markets

We document that the corporate sector faces higher borrowing costs when the external debt of the public sector is higher. By contrast, no significant relationship is found between domestic public debt and corporate borrowing costs. An increase in sovereign debt by one standard deviation from its sample mean is associated with 9% higher loan yield spreads. The correlation is considerably higher in countries with weak creditor rights and past sovereign default episodes. Overall, these findings suggest substantial adverse linkages between public external debt and private financing costs.     

Food safety knowledge,behavior and attitude of Libyan consumers

This research aims to study and analyze the relationship between consumer awareness and consumer protection issues relating to food safety; the researcher defined a set of variables associated to consumer awareness in this research to study the relationship between this awareness and between some of the economic and social characteristics of consumers such as the level of income for the head of household, level of education for the research samples and some other characteristics related to awareness of the consumers. To achieve this goal the researcher prepared a questionnaire for this purpose which been fulfilled from a random sample of Libyan students who are studying at Near East University in various specialist and stages of university study. To analysis these data the researcher has used non-parametric statistical analysis for the previous relationship, due to the nature of metadata where Chi square has been used to study the moral awareness of the relationship between the consumer and all of the level of income and level of education. These results showed the presence of statistically significant relationship between the level of consumer awareness and the level of income and the level of education, the results also showed that there were significant correlation between consumer awareness and all of the level of income and level of education. The study concluded that consumer protection policies should be directed to teach and educate consumers with a focus on lower-income segments of society and in the lower level of education.     

Does female representation in top management improve firm performance? A panel data investigation

We argue that female representation in top management brings informational and social diversity benefits to the top management team, enriches the behaviors exhibited by managers throughout the firm, and motivates women in middle management. The result should be improved managerial task performance and thus better firm performance. We test our theory using 15 years of panel data on the top management teams of the S&P 1,500 firms. We find that female representation in top management improves firm performance but only to the extent that a firm's strategy is focused on innovation, in which context the informational and social benefits of gender diversity and the behaviors associated with women in management are likely to be especially important for managerial task performance. Copyright © 2012 John Wiley & Sons, Ltd.     

ESTIMATED SMALL OPEN ECONOMY MODEL WITH FRICTIONAL UNEMPLOYMENT

This paper investigates labour market dynamics in New Zealand by estimating a structural small open economy model enriched with standard search and matching frictions in the labour market. We show that the model fits the business cycle features of key macroeconomic variables reasonably well and provides an appealing monetary transmission mechanism. We then extend our analysis to examine the driving forces behind labour market variables. Our findings suggest that the bulk of variation in labour market variables is solely explained by disturbances pertaining to the labour market.