Punishment in environmental protection

The fundamental character of a punishment is the subject of this paper. Based on the assumed function of a punishment (deterrent), a punishment has to be perceived and experienced to be an adverse result by the punished and the public. The first factor in particular means that the courts have to have flexibility to sentence a person to such a punishment that is experienced as such. The legal question becomes how this customization of a punishment is acceptable from an equality standpoint. In the field of environmental protection, the administrative process poses serious problems. There may be administrative proceedings that result in substantial economic losses for individuals and groups alike. Jürgen S. Poesche was born in Edmonton (Alberta, Canada), lived in Europe and North America and graduated from the Helsinki University of Technology, University of Helsinki, Swedish School of Economics and Business Administration and Tampere University of Technology. Areas of interest include chemical and mechanical pulping, environmental protection (EIA, environmental ethics, environmental law), and capital investment decision-making. He has published in, e.g., Wochenblatt für Papierfabrikation, Finnish Journal of Business Economics, Ympäristojuridiikka (Environmental Law), and in the publication series of the Helsinki University of Technology and the Tampere University of Technology. Presently, he is working for a major Canadian forest products company.     

Monetary Policy in Austria–Hungary, 1876–1913: An Econometric Analysis of the Determinants of the Central Bank’s Discount Rate and the Liquidity Ratio

This paper presents a model to explain the official discount rate of the Central Bank of Austria–Hungary from 1876 to 1913. The discount rate is assumed to depend on the liquidity ratio of the Bank, defined as the ratio of its stock of metals to banknotes issued, and on changes in foreign discount rates. The paper also presents an equation explaining the liquidity ratio. We use “not equally spaced chronologically ordered data” referring to the 50 discount rate changes enacted. The regressions confirm that the liquidity ratio was the main determinant of the discount rate and that Germany (and not Great Britain) played a significant role in determining the Austro–Hungarian discount rate and the liquidity ratios, supporting the view that the classical gold standard was a decentralized multipolar system rather than a system fully dominated by London as suggested by Keynes. The regressions also suggest that, although Austria–Hungary had an inconvertible paper currency (1879–1892) and fluctuating exchange rates (1876–1895) and formally joined the gold standard only in 1902, it “shadowed” the behaviour of gold standard Central Banks with such consistency that the stability of the estimated regressions was relatively unaffected by the frequent institutional changes.

Network neutrality and the nature of competition between network operators

The neutral architecture of the Internet is being challenged by various parties, such as network operators providing the connections to end-users, who are interested in gaining control of the information exchanged over the Internet. What are the effects on competition and welfare of such practices? Currently, there exists very little economic theory on network neutrality. This paper provides a preliminary analysis of the type of economic modeling that can address network neutrality, as well as of the type of results that can be expected.     

Does China＇s Huge External Surplus Imply an Undervalued Renminbi？

A pegged exchange rate regime has been pivotal to China's export-led development strategy. However, its huge trade surpluses and massive build up of international reserves have been matched by large deficits for major trading partners, creating acute policy concerns abroad, especially in the USA. This paper provides a straightforward conceptual framework for interpreting the effect of China's exchange rate policy on its own trade balance and that of trading partners in the context of discrepant economic growth rates. It shows how pegging the exchange rate when output is outstripping expenditure induces China's trade surpluses and counterpart deficits for its trading partners. An important corollary is that given its strictly regulated capital account, China's persistently large surpluses imply a significantly undervalued renminbi, which should gradually become more flexible.     

Lessons Learned from Ethics in the Classroom: Exploring Student Growth in Flexibility, Complexity and Comprehension

This study shows the link between teaching ethics in a college setting and the evolution of student thinking about ethical dilemmas. At the beginning of the semester, students have a rigid "black and white" conception of ethics. By the end of the semester, they are thinking more flexibly about the responsibilities of leaders in corporate ethical dilemmas, and they are able to appreciate complex situations that influence ethical behavior. The study shows that education in ethics produces more "enlightened" consumers of ethics information who are able to make sound determinations about responsibility in ethical dilemmas.     

Manager-Employee Relationships: Guided by Kant's Categorical Imperative or by Dilbert's Business Principle

The relationship between Employer and Employees is a central one in the world of business. While an important relationship, it is one that is often a source of tension for the workplace. Employers are seemingly in constant mistrust of workers, while workers often look upon their bosses as "less than competent". In the American world of business today, should this "adversarial" relationship continue or should the Employer–Employee Relationship be governed by different rules. Immanuel Kant's Categorical Imperative offers some insights into the way this relationship should be viewed. Also, the philosopher Alfred North Whitehead has some important points to add to the discussion of this crucial business relationship. A look at the case involving Malden Mills Textile Plant and its CEO Aaron Feuerstein will be used to launch this discussion.     

How Australian organizations use global communications

Global communications technology offers those organisations that embrace it many strategic advantages in conducting business overseas. Despite this, it has not been a technology that Australian organisations have rushed to implement.This paper investigates several Australian organisations and looks at their use of global communications technology. The organisations chosen are a mix of those that are Australian owned and foreign companies. Some of the organisations have been exporting their products or services for a number of years, whilst others are new to business operations on a global scale.Whilst the number of organisations researched is small, there appears to be a clear indication that global communications is a technology that all the Australian organisations (included in the research) have investigated. However they have then only proceeded to implement the technology, provided that it offers some definable form of competitive advantage when conducting business overseas.The organisations included in the research may not have had a definite management strategy in place for global communications initially, but, as the technology has become more efficient, has proven to be advantageous or has been accepted by an organisation's competitors, it has been included in management's strategic planning.The results also show that the implementation of global communications has enhanced profitability. However, the additional profit is not always derived from an increase in revenue but often a reduction in costs.The research shows that those foreign organisations with headquarters overseas have been much quicker to implement the technology for one or more of the following reasons: to increase their competitive advantage to improve company reporting to lower the costs of communication to provide more efficient methods of sharing common information.     

Ethical Ideology and the Ethical Judgments of Marketing Professionals

The present study extends the study of individuals' ethical ideology withinthe context of marketing ethics issues. A national sample of marketing professionals participated. Respondents' ethical ideologies were classified as absolutists, situationists, exceptionists, or subjectivists using the Ethical Position Questionnaire (Forsyth, 1980). Respondents then answered questions about three ethically ambiguous situations common to marketing and sales. The results indicated that marketers' ethical judgments about the situations differed based on their ethical ideology, with absolutists rating the actions as most unethical. The findings are consistent with those of two earlier studies that utilized samples of business students (Barnett et al., 1994, 1995). The results suggest that personal moral philosophy is an important influence on ethical decision making that should be considered in empirical studies of business ethics. The results also support the utility of the Ethical Position Questionnaire (Forsyth, 1980) as a means for researchers and practitioners to assess individuals' ethical ideology.     

Ethical and Unethical Bargaining Tactics: An Empirical Study

Competitive negotiators frequently use tactics which others view as "unethical", in that these tactics either violate standards of truth telling or violate the perceived rules of negotiation. This paper sought to determine how business students viewed a number of marginally ethical negotiating tactics, and to determine the underlying factor structure of these tactics. The factor analysis of these tactics revealed five clear factors which were highly similar across the two samples, and which parallel (to a moderate degree) categories of tactics proposed by earlier theory. Data from one sample also permitted comparisons of the appropriateness of certain tactics across gender, nationality, ethnic origin and perception of one's negotiating style.