How private contract enforcement mechanisms can succeed where public institutions

The enforcement of contracts is necessary for efficient exchange and investment in economic activities. Contracts can be enforced through a variety of mechanisms, both public and private. However, in many developing and transitional countries these public institutions are either absent or ineffective in ensuring contract enforcement. Under such conditions, private enforcement mechanisms may provide a suitable replacement for public enforcement institutions. This may be done externally through a third party or internally through self-enforcing agreements. This paper analyzes the use of "self-enforcing" arrangements or "internal" private enforcement mechanisms. Using a case study of an agri-business in a transition economy — Juhocukor a.s., a Slovakian sugar processor — we show that the use of "internal" private contract enforcement mechanisms can have a significant positive effect on output and efficiency for both partners to the exchange transaction in an environment characterized by the absence or ineffectiveness of public enforcement institutions.     

The Australian Way: competency-based training in the corporate sector

A notable trend over the last decade has been the attention that has been paid to the skills and education base of the labour forces in many OECD nations seeking improved productivity outcomes. Governments have looked to the provision of competency-based vocational education and training and endeavoured to introduce changes, often to support general micro-economic reform. This article examines Australian endeavours within this trend both at the macro-level of the state and at the micro-level of the organisation. It is argued that the corporate sector has generally responded well, albeit slowly, to the introduction of competency-based training and development. As industry bears more of the cost, and the task, of meeting its training needs it is more than ever keen to see a direct return on the training investment through concomitant increases in productivity.     

Minimum and preferred entry qualifications and training provision for British workers

This article reports the outcomes of a survey of British employers that requested information on the qualifications sought when recruiting employees, and on training and development offered subsequently to employees. Responses revealed that few employers actively sought vocational awards in potential employees. The only occupational category for which more employers specified a vocational award than an academic award was service workers. A substantial number of organisations specified no minimum entry level of qualification, even for higher–status occupations. Those organisations that did specify a minimum qualification level for recruits were significantly more likely to report that they trained their employees.     

Investing Public Pensions in the Stock Market: Implications for Risk Sharing,Capital Formation and Public Policy in the Developed and Developing World

Concerns that existing public pension systems will be unable to pay benefits to a rapidly ageing population without sharp tax increases, and the prospect of higher average returns on stocks than on government securities, are drawing the attention of policy–makers worldwide to the option of investing public pension assets in stocks. Including stock market investments in public pension plans could improve risk sharing within and between generations, and could perhaps lead to faster market development in some countries. It could also result in excessive risk–taking, higher transactions costs and a false sense of increased financial security. This paper assesses these issues, with an emphasis on the considerations that are of special importance to developing markets. A contrast is drawn between the demographic outlook in East Asia and the major industrialized countries. Some lessons are drawn from the reform experience in Chile and elsewhere in Latin America.     

An experimental method for studying unconscious perception in a marketing context

This article provides in‐depth discussion of a recently developed method designed to foster the elicitation and detection of unconscious perception. Prior findings coupled with additional studies and analyses support the value of this method as a tool for studying unconscious perception in a marketing context. The method can both divert subjects' conscious attention away from experimental stimuli and provide a separate indicator of where subjects' attentive resources are being allocated during exposure. Moreover, it is easy to use and flexibly applied in an experimental setting. © 1999 John Wiley & Sons, Inc.     

Using flexible schedules in the managerial world: The power of peers

Reports indicate that managers fail to take advantage of flexible work schedules to integrate work and life demands. A survey was conducted of approximately 1,000 managers who had three alternative schedule options: flextime, part‐time work, and leave of absence. Managers who were women or who had work group peers who were schedule users were more likely to use each schedule. Managers' productivity concerns were highest for flextime, then leaves, and least for part‐time work. Organizational cultural change can occur if managers take the lead in their work groups to use flexible schedules in order to remove social barriers. © 1999 John Wiley & Sons, Inc.     

Investigating the interplay among the Olympic Games image,destination image,and country image for four previous hosts

ABSTRACT

This research tested the triangular relationships among country image, destination image, and Olympic Games image using a quasi-experimental design on an online platform. One month before the 2016 Olympics in Brazil, four groups of respondents were randomly assigned to a country context to rate their perceptions of one of the following host countries: England, United Kingdom (UK), Greece, Brazil, or Russia. Brazil's image was measured again one month after the Olympic Games. Comparison of groups showed that England had the strongest country image while Brazil and Greece had stronger destination images, and Russia had the lowest score in both domains. The Olympics image was stronger than both Russia’s country and destination images. Theoretical, managerial, and methodological implications are discussed.     

Monetary policy inertia: More a fiction than a fact?

Empirical estimates of monetary policy reaction functions feature a very high estimated degree of monetary policy inertia. This evidence is very hard of reconcile with the alternative evidence of low predictability of monetary policy rates. In this paper we examine the potential relevance of the problem of weak instruments to correctly identify the degree of monetary policy inertia in forward-looking monetary policy reaction function of the type originally proposed by Taylor [1993. Discretion versus policy rules in practice. Canergie-Rochester Conference Series on Public Policy, 39, 195–214]. After appropriately diagnosing and taking care of the weak instruments problem, we find an estimated degree of policy inertia which is significantly lower than the common value in the empirical literature on monetary policy rules.     

A comparative automated content analysis approach on the review of the sharing economy discourse in tourism and hospitality

Using the sharing economy (SE) as the context, this article provides a coherent and nuanced methodological understanding of automated content analysis (ACA) in tourism and hospitality (TH) field. By adopting a comparative ACA approach, the paper compares the current TH Western academic literature of the SE with news media discourse in TH from the period 2011–2016 (August) (inclusive). The emerging issues from the news media discourse, such as mobility, SE companies and the role of government, are absent in current tourism academic research. Findings reveal that ACA can facilitate a more systematic comparison between different sources of data. This paper offers a starting point for tourism scholars to methodologically engage with ACA that can draw useful insights on a particular context.