Gardiner C. Means's institutional and post-Keynesian economics

In this tribute to the work of Gardiner Means, we shall argue that his influence has been on a par with that of Keynes on economists of an unorthodox persuasion. It is argued that his pioneering work in studying the modern corporation as an institution that needs to be fully understood, renders him a first-rate institutionalist. Intriguingly, it is also suggested that his interest in the microeconomic foundations of macroeconomic performance are suggestive of post-Keynesian concerns.     

A BALANCE OF PAYMENTS ANALYSIS OF THE LATIN AMERICAN DEBT CRISIS

In this paper we offer a definition of a country "debt crisis" based upon the amount of new borrowing relative to the cost of servicing past debt. Policy implications for both debtor countries and their creditors are examined. An empirical application is made to Latin American countries, 1978–82. The causes of the debt problems created during this period are investigated with respect to the extent they were the result of rising interest rates vis à vis increased borrowing.     

Promoting passenger comfort and wellbeing in the air: An examination of the in-flight health advice provided by international airlines

Cases of airline passengers developing deep vein thromboses and contracting infectious diseases during flights have led to airlines' provision of in-flight customer health advice coming under increased scrutiny. By means of a manifest content analysis of the information provided in 50 international airlines’ in-flight magazines, this paper examines the nature and presentation of the health advice that is supplied and comments on the different approaches individual airlines adopt.     

Workforce drug testing: a critique and reframing

This article aims to stimulate re‐engagement with workforce drug testing as a current managerial technology emerging in UK organisations and not solely confined to the US. Drawing on sociological, labour process and wider organization studies literature, it reconceptualises assumptions about managerial ideology, employee agency and drug user's subjectivity.     

Covered interest parity in non-dollar euromarkets

Zusammenfassung Gedeckte Zinsparit?t auf Nicht-Dollar-Eurom?rkten. —- In diesem Aufsatz werden die Beziehungen zwischen Zinss?tzen und Wechselkursen auf den Eurom?rkten für andere W?hrungen als den U.S.-Dollar untersucht. Dabei zeigt sich, da\ Heteroskedastizit?t ein wichtiges Problem in den Daten ist. Tests, die mit der Heteroskedastizit?t konsistent sind, werden unter Benutzung der Korrektur nach White durchgeführt. Aus diesen Tests ergibt sich, da\ die These von der gedeckten Zinsparit?t abgelehnt werden k?nnte. Doch liegen die beobachteten Abweichungen von der gedeckten Zinsparit?t innerhalb der Grenzen, die sich aus den Transaktionskosten ergeben.

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Résumé Parité d’intérêt couverte en euro-marchés non-dollar. — Les auteurs examinent les relations entre des taux d’intérêt et des taux de change en euro-marchés non-dollar. Ils trouvent que la hétéroscédasticité est un problème significatif regardant les données. Des tests hétéroscédasticité-consistants sont conduits en utilisant la correction de White. Ces tests démontrent que la parité d’intérêt couverte (PIC) pourrait être refusée. Cependant, les auteurs trouvent que les déviations de la PIC observées sont dans des limites déterminées par les frais de transaction.

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Resumen La paridad de tipos de interés con seguro de cambio en los Euromercados alternativos al del dólar. — Se examinan las relaciones entre los tipos de interés y los tipos de cambio en los Euromercados alternativos al del dólar. La muestra presenta problemas de heteroscedasticidad. Se llevan a cabo tests consistentes con la heteroscedasticidad utilizando la corrección de White. Estos tests demuestran que la paridad de tipos de interés con seguro de cambio podría ser rechazada. Las deviaciones observadas, empero, permanecen dentro de los límites impuestos por los costos de transacción.

     

The Production,Transfer and Spillover of Technology: Comparing Large and Small Multinationals as Technology Producers

Multinational enterprises are, sina qua non, the world's technology producers. In this paper, we explore the concept of technology production by multinationals, focusing on three aspects: (i) technology as a firm-specific advantage, (ii) the costs of technology transfer, and (iii) technology spillovers. In each case, we outline current views and debates in the field about the role played by large multinationals in technology production. Finally, we compare MNEs with small and medium sized enterprises (SMEs) as technology producers. We conclude that SMEs face certain constraints, due to small size and inadequate financing, that raise their costs of technology production and transfer, relative to the costs for MNEs. On the other hand, their flexibility and use of unconventional methods can create successful mini-nationals in niche markets.     

What is Different about Socially Responsible Funds? A Holdings-Based Analysis

Using samples from the U.S. and Puerto Rico, we examine cross-cultural differences in cultural value dimensions, and relate these to act and rule utilitarian orientations, and ethical decision making of business professionals. Although these places share the same legal environment, culturally they are distinct. In addition to tests of between-group differences, a model in which utilitarian orientation mediates the influence of cultural values on ethical decisions was evaluated at the individual level of analysis. Results indicated national culture differences on three cultural values, but no between-group differences on utilitarian orientations and ethical decisions. Significant indirect effects were found; act utilitarian orientation mediated the effects of two values activity orientation and universalism on ethical decision making. Implications for international management practices and business ethics are discussed.     

Trends in European Research on Entrepreneurship at the Turn of the Century

This article serves as an introduction to the special issue on Entrepreneurship Research in Europe, a selection of papers from the XIVth RENT conference held in Prague, the Czech Republic, November 23–24, 2000. It provides an overview of the articles and also discusses some of the themes that bind them together: Networking and the diffusion of innovations and family business. In addition, the paper includes a short section highlighting advances in the Italian entrepreneurship climate as evidenced by data provided by several of the papers in this issue carried out by Italian researchers on Italian SMEs.