Fits,misfits and interactions: learning at work,job satisfaction and job‐related well‐being

The resource‐based view (RBV) of the firm has focused attention on the importance of aligning employees' needs with the requirements of the jobs they do. This article focuses on how these needs and requirements interact in terms of learning. It does so in two ways. First, it develops new survey instruments to capture the learning demands of jobs and the learning dispositions of workers and uses them for the first time in a survey of 2,810 employees. Second, it examines how these person and job characteristics correlate with specific aspects of job satisfaction and job‐related well‐being. The results show that although learning alignment is associated with high levels of satisfaction and well‐being, not all learning misalignments are associated with the reverse.     

Heterogeneity in Economics

This paper argues that heterogeneity of agents’ characteristics plays a fundamental role in the economy and should do so in economic models. Three aspects are considered. Firstly the notion that assuming heterogeneity was a solution to the problem posed by the results of Sonnenschein Mantel and Debreu is considered and it is suggested that the more pragmatic approach adopted by Hildenbrand is likely to be more productive. Next the role of adaptation and evolution which necessarily involve variety or heterogeneity is examined. It is suggested that heterogeneity will persist since agents will only slowly learn to adapt and that in the meantime the environment will change. Lastly the role of heterogeneity in financial markets is examined. It is suggested that heterogeneous and varying expectations may account for many of the stylised facts which do not seem to be consistent with the standard financial markets model.“Variety is the spice of life”     

Innovation,external technical linkages and small firm commercial performance: an empirical analysis from Western New York

This paper examines the role of external service linkages in the innovation and market peformance of small manufacturing firms (SMFs). Survey data from a technological cross-section of 146 Western New York SMFs are summarized. The data suggest a helpful role for consultants in the product development efforts of innovative firms, especially those that serve foreign export markets. Several multiple discriminant models are presented, each of which suggests an interactive connection between SMF commercial performance, externa) technical links, innovation propensity and in-house R&D. It is argued that innovative SMFs that exploit specialized technical services perform significantly better than comparably sized firms that rely solely on in-house resources. It is also argued that the quality of a region's producer service environment may have a significant bearing on the growth potential of its SMF population. The paper concludes by discussing the main academic and public policy implications that flow from the empirical results.     

Employee involvement,the quality of training and the learning environment: an individual level analysis

Theories such as human capital theory, the metaphors of learning and the high involvement work paradigm all suggest that the quality of training and learning varies along a number of axes. This article shows how these theoretical insights have been translated into questions used in a UK survey of 6829 employees carried out in 2006. We find that the qualities of both the training experience and on-the-job learning are strongly associated with the extent and nature of employee involvement. This suggests that employee involvement is likely to play an important role in the process of upskilling the workforce, which has been accorded a central role in the economic strategies of many nation states as well as supra-national organizations such as the European Union.     

Understanding 'individualization' in human resource management: the case of 'skill-based pay' in France

'Individualization' in personnel practices has long been considered as an essential component of 'modern' human resources management, but the empirical complexities of its definition, implementation and impact within firms have not been analysed in considerable depth. This paper adds to this analysis by reporting on research into one form of individualization - 'skill-based pay' - adopted in different sectors in France. The crucial institutional context for this adoption is explained and then it is shown how different models of skill-based remuneration have emerged as a result of both sectorial contingencies and specific industrial relations processes.     

Workplace values and beliefs: an empirical study of ideology,high commitment management and unionisation

This study is unique in that it examines both managers' and workers' values and beliefs about employment relationships. It found that managers consider the employment relationship in their own workplaces unitarist rather than pluralist, but have mixed ideologies when considering society as a whole. Workers are strongly pluralist when considering society as a whole, but their workplace ideology is somewhat unitarist. A modest union impact on workers' perspectives is found, but little evidence to suggest union's effect commitment to the employing organization. Workers' commitment is to personal careers first and the organization second, while managers put the organization ahead of personal careers. Correlations exist between unitary views of the employment relationship, increased High Commitment Management (HCM) practices, and high levels of commitment. The purpose and contribution of this study is that it reports an assessment of the relation between workplace attitudes and beliefs and the efficacy and influence of management and union initiatives designed to impact them.     

Are the new rules relating to disclosures of derivative financial instruments workable?

Accounting for derivatives has created uncertainties for preparers, auditors, regulators, and users of financial statements alike. The complexity and variety of instruments as well as hedging and risk management techniques make derivatives reporting a difficult subject. Developing consistent accounting rules in this area is made even more challenging since derivatives are used in conjunction with assets and liabilities that, under the current accounting system, may be carried at historical cost, fair value, or some hybrid of fair value and historical cost. Further, derivatives are used in connection with portfolios of items as well as with economic assets and exposures that may not be recorded in financial statements under the current model.     

DISCOUNT RATES AND ENERGY EFFICIENCY

Empirical studies provide compelling evidence that economic agents do not adopt the complete range of energy-efficient technologies that are cost-effective under prevailing prices and market conditions. Analysts commonly attribute this anomaly to the use of high discount rates in energy-related decisions-an interpretation that is difficult to reconcile with standard models of rational choice. This paper recasts the controversy from the perspective of economic theory and finds that market failures related to asymmetric information, bounded rationality, and transaction costs are major contributors to the so-called "efficiency gap."