Modeling the inconsistency in intertemporal choice: the generalized Weibull discount function and its extension

The aim of this paper is to obtain the family of the so-called generalized Weibull discount functions, introduced by Takeuchi (Game Econ Behav 71:456–478, 2011), by deforming the q-exponential discount function by means of the Stevens’ “power” law. The obtained discount functions exhibit different degrees of inconsistency and so they can be classified according to the value of their characteristic deforming parameters. Moreover, we extend the construction of the generalized Weibull discount function starting from any discount function instead of the q-exponential discounting. In any case, the value of the parameter \(\theta \) of these new discount functions is extended from (0, 1] to the union of the intervals \((-\,\infty ,0) \cup (0,+\,\infty )\).     

Long‐Term Effects of Fiscal Policy on the Size and Distribution of the Pie in the UK*

This paper provides a joint analysis of the output and distributional long‐term effects of various fiscal policies in the UK, using a vector autoregression (VAR) approach. Our findings suggest that the long‐term impact on GDP of increasing public spending and taxes is negative, and especially strong in the case of current expenditure. We also find significant distributional effects associated with fiscal policies, indicating that an increase in public spending reduces inequality while a rise in indirect taxes increases income inequality.     

Do Harmonised Accounting Standards Lead to Harmonised Accounting Practices? An Empirical Study of IAS 39 Measurement Requirements in Some European Union Countries

The objective of this paper is to investigate the level of harmonisation for IAS 39 Financial Instruments: Recognition and Measurement and to identify if different levels of harmonisation are associated with company-specific factors. Based on Rahman et al. (2002) , we used the Jaccard (JACC) index to determine the level of harmonisation between IAS 39 and the financial reporting practice of a broad-based sample of European-listed companies in 2005. We applied regression analysis to identify companies' specific characteristics that affect the level of convergence of the reporting practice of financial instruments. The results of this study show a high level of harmonisation between accounting practices of European companies included in our sample and IAS 39.     

The interactive effects of leader–member exchange,gender and spouse's gender role orientation on work interference with family conflict

Based on social support and gender role theories, we examined the direct and interactive effects of leader–member exchange, gender and spouse's gender role orientation on work–family conflict. Survey data were collected from matched dyads from 185 dual-earner couples in Sri Lanka. The results show that leader–member exchange is negatively related to work interference with family. There is also support for crossover effects among couples such that individuals with spouses who have a traditional gender role orientation experience greater work interference with family conflict. Finally, there is a three-way interaction such that a spouse's gender role orientation moderates the relationship between leader–member exchange and work interference with family conflict differently for men and women.     

A Stochastic Minimax Model to Calculate Outstanding Claims

Correct estimation of the Outstanding Claims Reserve, an item that includes Incurred But Not Reported Claims (IBNR) as well as Incurred But Not Enough Reserved Claims (IBNER), is one of the most important issues currently facing actuarial science, due to its effect on the technical and financial stability of insurance companies. The purpose of this paper is to calculate the reserve in a decision-making environment, so that estimates can be made according to accurately defined and previously established rational criteria. Specifically, the estimating process enables a company’s particular situation to be taken into account, by incorporating its approach to the consequences arising from estimation errors into the model. The proposed calculation method gives rise to optimum link ratio estimators that can also be interpreted from a Bayesian perspective, with the advantages associated to such methodology.     

Short-term effects of policy reform on tourism and the macroeconomy in Zimbabwe: Applied CGE analysis

This article applies a short-term computable general equilibrium model for Zimbabwe to trace the direct and indirect effects of policy on the macroeconomy and tourism. The results show that the main reason why benefits from tourism are bypassing the country is because of poorly sequenced macroeconomic policies and a negative political climate. As and when the national political situation stabilises and the economy begins to grow again, an urgent macroeconomic thrust should be to implement a credible macroeconomic stabilisation programme, consisting in the main of reduced fiscal deficits, flexible foreign exchange markets and tight monetary policies to rein in inflation. However, because Zimbabwe is in arrears, there can be no programmes or lending with the International Monetary Fund and World Bank. Getting the budget in order without aid money will be very tough indeed, and the alternative is worse. It means debt deflation by means of hyperinflation.     

An unsuccessful initiative to create a buying centre

An organization’s effectiveness depends on its ability to adapt its structures to new situations. This holds crucially true for small companies, constrained by their resources and capacities. The interest of five small local companies for setting up a united buying centre with which respond to the ever-changing market is described. Greater and better knowledge of the potential suppliers’ pool, improved purchasing prices, greater negotiating power, access to more appropriate technology and improved overall operations, all figured amongst the advantages of this initiative. However, despite the apparent importance of these advantages, the study pinpoints a number of obstacles and a range of behavioural traits amongst the members involved that would make the project unfeasible as a tool for achieving them.     

Antecedents of repatriates' job satisfaction and its influence on turnover intentions: Evidence from Spanish repatriated managers

Executives in today's business world are increasingly conscious that the competitive advantage of international companies rests upon unique global knowledge and experience. Consequently, the retention of executives with these skills is one of the main concerns of international organizations. Dissatisfaction with the job assigned after expatriation is an important determinant of the repatriation failure rates. This study explores this relation as well as the antecedents of job satisfaction among a sample of 81 Spanish repatriated managers. Findings: job satisfaction relates to turnover and the position assigned to the repatriates on their return, as well as the accuracy of their expectations, influences their job satisfaction. The article discusses implications for practitioners and scholars.     

Towards the Harmonisation of Local Accounting Systems in the International Context

In recent years efforts to modernise and regulate public accounting systems have been carried out in most countries, driven essentially by the interest in establishing a Public Accounting capable of satisfying the required needs for attaining efficient management of public resources, as well as for demonstrating accountability to stakeholders. In this paper we aim to analyse the degree of local government accounting harmonisation, demonstrating in a general way that their accounting systems show very little homogenisation, accounting diversity being, in fact, one of their principal characteristics. In this context, we refer to the benefits and problems involved in reducing the differences between accounting systems and in increasing the comparability of financial reporting.