The real estate code of ethics: Viable or vaporous?

Several recent articles in the field of ethics and business have raised questions concerning the viability of professional ethical codes. Are such codes serious, effective tools for promoting and enforcing an ethical standard of behavior? Or do the codes more closely resemble clever, elaborate public-relation ploys? The purpose of this paper is to analyze the content, role and efficacy of one such ethical code, namely, The Code of Ethics of the National Association of Realtors. The paper examines the ethical principles embodied, implicitly or explicitly, in this Code; it tests these principles for coherence, comprehensiveness, clarity and enforce-ability. Furthermore, it seeks to determine whether this Code articulates standards of ethical conduct that are higher than those already required by law and whether the Code successfully translates a general ethical vision down to concrete, everyday real estate practice.     

Managing Foreign Direct Investment: Commitment, Deterrence, And Diversion

The paper models the multinational choice between foreign direct investment in and exporting to a domestic market as an equilibrium outcome of strategic play between domestic and foreign firms. Two cases are considered, one in which the domestic firm can precommit to output levels (as, for example, through investment in a distribution network), and one in which such precommitment is not possible. The domestic firm's strategy in the case of precommitment includes aggressive efforts to deter or divert foreign investment and results in fewer observed equilibria with foreign investment than would otherwise occur. Tariffs designed to switch the foreign decision from exporting to direct investment may lead instead to monopolization of the market by the domestic firm.     

Migration and remittances in island microstates: a comparative perspective on the South Pacific and the Caribbean

For several decades there has been extensive migration from the small island states of the South Pacific and the eastern Caribbean to metropolitan countries, resulting in absolute population decline in some states and new social, economic and political relationships between these island regions and distant worlds. Early research on the consequences for island development of return migration and remittances dwelt upon the unproductive nature of expenditures and the various problems return migration and remittances cause. Questioning this view, a new conceptualization of the influences of migration, circulation and remittances on recipient families, communities and societies in the island states of the South Pacific and the Caribbean is presented. Regional similarities and differences are recognized, yet commonalities of island microstates’ experiences emerge. Remittances are a very significant private transfer of capital and return migrants represent people endowed with human capital, capable of enriching the social and cultural capital stocks of their island communities. In both insular regions, the consolidation of transnational linkages emphasizes the significance of diaspora relations for migrant households at home and abroad and offers some prospects for sustainable development, beyond those offered solely by domestic economic opportunities. Depuis plusieurs décennies, une migration considérable s’est développée des petites îles états du Pacifique du sud et des Antilles de l’est vers les pays métropolitains. Le résultat est un déclin du nombre absolu de la population dans certains de ces états et de nouvelles relations sociales, économiques et politiques entre ces régions des îles et les mondes éloignés. Les premières recherches sur les conséquences pour le développement des îles de la migration de retour et des envois de fonds insistaient sur la nature improductive des dépenses et sur les différents problèmes causés par la migration de retour et les envois de fonds. Questionnant ce point de vue, nous présentons une nouvelle conception des influences de la migration, de la circulation et des envois de fonds sur les familles qui en bénéficient, sur les communautés et sur les sociétés des îles états du Pacifique du sud et des Antilles. Bien que les similarités et des différences régionales soient reconnues, des points communs dans les expériences des micro‐états émergent. Les envois de fonds sont un tranfert privé de capital très significatif et les émigrants qui reviennent sont dotés de capital humain, capables d’enrichir le domaine social et culturel de leurs communautés des îles. Dans les deux régions insulaires, la consolidation des liens transnationaux démontre la signification des relations de la diaspora pour les familles migratrices chez elles et à l’étranger et offre des possibilités de développement durable au‐delà de ceux offerts uniquement par les opportunités économiques intérieures.     

Determinants of New Product Development Team Performance: A Meta‐analytic Review

New product development (NPD) has become a critical determinant of firm performance. There is a considerable body of research examining the factors that influence a firm's ability to successfully develop and introduce new products. Vital to this success is the creation and management of NPD teams. While the evidence for the use of NPD teams and the factors that determine their success is accumulating, there is still a lack of clarity on the team‐level variables that are most impactful on NPD success. This meta‐analytic study examines the effects of NPD team characteristics on three different measures of success: effectiveness (market success), efficiency (meeting budgets and schedules), and speed‐to‐market, requiring incorporation of a broader set of team variables than previous studies in order to capture more factors explaining NPD outcomes. Unlike a typical empirical study that considered no more than two team variables to predict NPD performance, this study combines research spanning eight team variables including team input variables (team tenure, functional diversity, team ability, and team leadership) and team process variables (internal and external team communication, group cohesiveness, and goal clarity). Results from 38 studies were aggregated to estimate the meta‐analytic effect sizes for each of the variables. Using the meta‐analytic results, a path analytic model of NPD success was estimated to isolate the unique effects of team characteristics on NPD effectiveness and efficiency. Results indicate that team leadership, team ability, external communication, goal clarity, and group cohesiveness are the critical determinants of NPD team performance. NPD teams with considerable experience and led by a transformational leader are more successful at developing new products. Effective boundary spanning within and outside the organization and a shared understanding of project objectives are paramount to success. Group cohesiveness is also an important predictor of NPD outcomes confirming the importance of esprit de corps within the team. The findings provide product development managers with a blueprint for creating high‐performance NPD teams.     

Quality of Leadership and Workplace Bullying: The Mediating Role of Social Community at Work in a Two-Year Follow-Up Study

The theoretical and empirical link between leadership and workplace bullying needs further elaboration. The aim of the study is to examine the relationship between quality of leadership and the occurrence of workplace bullying 2 years later. Furthermore, we aim to examine a possible mechanism from leadership to bullying using social community at work as mediator. Using survey data that were collected at two different points in time (2006–2008) among 1664 workers from 60 Danish workplaces, we examined the total, direct and indirect effects between quality of leadership and workplace bullying. Our results indicate that quality of leadership plays a role in establishing working conditions that lead to workplace bullying. Furthermore, social community at work fully mediates the effect of poor quality of leadership on workplace bullying. This longitudinal study adds to previous cross-sectional studies on the substantial role played by leaders in the bullying process. Within the leadership–bullying relationship, social community at work acts as a full mediator, adding a significant contribution to the discussion of mechanisms involved in the bullying process. Plausible explanations of this mechanism and practical implications are discussed.     

After the Green Revolution Sustainable and equitable agricultural development

Despite impressive results, the Green Revolution has encountered major problems of equity, stability and sustainability, calling for a ‘new phase’ of agricultural research and development. In this article four indicators of agricultural performance—productivity, stability, sustainability and equitability —are defined. Agro-ecosystems are described as a hierarchy ascending from the level of the individual plant or animal all the way to national systems linked by international trade, and it is argued that development cannot be based on any one level. This is demonstrated with a discussion of international constraints on sustainable and equitable development, the necessary national policies, and the needs of rural households. In conclusion, the article summarizes the research and development priorities for the new phase of development.     

Stabilization policy under flexible exchange rates and liquidity

Summary A two country model under flexible exchange rates is developed. The model shows that changes in the interest rate resulting from monetary or fiscal expansion has indeterminant effects on prices, output, capital flows and liquidity demand for money under conditions of a less than full employment equilibrium. Stabilization policy recommendations previously respected in this context fall under suspicion.     

Economic Dominants and Community Power: A Reputational and Decisional Analysis

Abstract . The study reported here used the reputational and the decisional approaches in order to ascertain the structures of power in two communities. Comparisons were made between power structures existing during 1969–70 in each community and between patterns of power previously discovered by application of the reputational approach in each city. Support for a combined reputational-decisional approach is provided. The methods also verify results of earlier reputational findings (1).