Informal Housing in the United States

Research on informal housing tends to focus overwhelmingly on less developed countries, downplaying or ignoring entirely the presence of informality in United States housing markets. In actuality, a longstanding and widespread tradition of informal housing exists in the United States but is typically disregarded by scholars. In this article we draw on three definitions of informality—as non‐compliant, non‐enforced, or deregulated economic activity—to characterize examples of informality in US housing markets, focusing in particular on five institutions that govern housing market activity in this country: property rights law, property transfer law, land‐use and zoning, subdivision regulations, and building codes. The cases presented here challenge the notion that informality is absent from US housing markets and highlight the unique nature of informal housing, US style—namely, that informal housing in the US is geographically uneven, largely hidden and typically interwoven within formal markets. We conclude with a discussion of how research on informal housing in the US can inform research in the global South.     

Goal configuration in a global industry context

This study analyzes the goal configuration of 126 firms, based in Japan, U.K. and U.S., competing in global industries. The results indicate that firm nationality and internationalization do not affect the firm's goal configuration. The breadth of the firm's reward system was found to be related positively to a dispersed goal configuration and, within global and multifocal industry segments, a congruence between goal configuration and industry position was found to be associated positively with performance.     

Customer retention in the insurance industry: Using survival analysis to predict cross-selling opportunities

In saturated markets customer retention offers a number of benefits to companies. While these benefits are recognised by financial institutions, many have not fully embraced the concept in practice. This paper focuses on the prediction of crossselling opportunities and attempts to answer the questions of who is likely to buy additional products from the same company, what the next product is likely to be and when the purchase is likely to be made. The analysis is based on a sample of 9,000 customers selected at random from the data warehouse of a large international financial institution. The paper discusses and illustrates the application of survival analysis techniques in this context and makes suggestions for further research in this area.     

Spillovers,Complementarities, and Sorting in Labor Markets with an Application to Professional Sports

Spillovers to productivity across workers may exist when workers produce in teams. Under certain conditions, these spillovers may cause a worker's marginal product to differ across different firms. Empirical examination of professional basketball finds significant spillovers to offensive productivity but finds relatively little evidence for market sorting based on spillovers. Thus, while teammate composition is important to a player's success, there is no evidence for complementarity.     

Experimental evidence of how prior experience as an auditor influences managers’ strategic reporting decisions

We design an experiment to examine the influence of audit experience on subsequent reporting decisions when auditors become managers of audited firms. In contrast to the independence issues that can arise when auditors and their clients are related by prior affiliation, we focus this study on the more common case in which auditors assume subsequent employment with other firms’ clients. In a bi-matrix experimental game that captures key features of the strategic tension between auditors and reporters, we find that reporters who have prior experience as an auditor, particularly the experience of having been a diligent auditor, are more sensitive to large penalties for aggressive reporting than are reporters whose experience is exclusively as a reporter. Our results suggest implications for regulators in predicting the effects of reporting penalties and for firms in considering the effects of CPA experience when hiring for reporting positions.

The Swiss Solution for South Africa

The example of Switzerland in devolving decision-making away from a central state towards community bodies with reduced powers offers a readily adaptable solution to the political turmoil in South Africa. FrancesKendall, co-author with Leon Louw of the best-selling South Africa: The Solution, presents her proposals forreform.     

Adolescent perceptions of parent and peer influences on teen purchase: An application of social power theory

This study evaluates parental and peer influences on teen purchase decisions by applying social power theory, which has not been examined in the teen context. The conceptual model examines how family socialization practices might impact teens' perceptions of social power influences from parents and peers. For example, family communication environment may promote teens' reliance on particular bases of social power influence. This study also examines the relationship between the bases of perceived social power and the purchase of different types of products (e.g., luxury/necessity, public/private). Results are generally consistent with predictions, demonstrating that teens from high socio-oriented communication environments are subject to greater perceived peer reward/coercive and referent power, whereas teens from high concept-oriented communication environments perceive greater parental expert and legitimate power. Finally, perceived bases of social power influence differ depending on the type of product purchased. Interpretation of findings and implications are discussed.