A historical perspective on nonverbal communication in debates: Implications for elections and leadership

Nonverbal communication has been a focus in both the realms of politics and leadership. Since 1960 commentaries about political debates have led to the conclusion that inept nonverbal communication may have been a telling sign as to who lost the eventual election. This article will give a brief recount of the nonverbal ineptitude associated with several televised debates throughout history, a short research note about how nonverbal communication in a debate may predict the loser of an election, and a set of recommendations that may help leaders. In essence, as nonverbal communication may not necessarily help candidates in a debate and subsequent election, but rather hurt them, the same can be said for leaders in general: nonverbal communication may not necessarily help leaders become their very best, but it can definitely hurt them and their effectiveness as leaders.     

Reasoned Ethical Engagement: Ethical Values of Consumers as Primary Antecedents of Instrumental Actions Towards Multinationals

We examine the implications of the US government’s too-big-to-fail (TBTF) policy as it has been applied to banks. Using alternative measures of risk, we compare the risk-taking behavior of 11 TBTF banks, identified by the Comptroller of the Currency in 1984, to a number of non-TBTF banks. We provide both theory and new empirical evidence to support our argument that the TBTF policy leads management to significantly increase risk-taking, with no corresponding increase in performance. While prior studies have considered the effects of the TBTF policy on limited, but risk-related aspects of bank behavior, such as the cost of funds, our study provides direct evidence about the risk-taking behavior associated with the TBTF policy. Our study has important implications for the current political debate regarding the too-big-to-fail policy.     

Vested Interests and the Common Man as Seen Through Monetary and Fiscal Policy: Flooding Wall Street or Main Street?

There are many angles through which a critical observer can analyze the divergent class interests in most aspects of macroeconomic management. We examine the insistence of financial authorities of all major economies on reviving economic activity through monetary — and not fiscal — policy as a particularly clear example of favoring vested interests over the interests of the common man. Nearly a century after Thorstein Veblen wrote on the subject, one can find many parallel elements to the political landscape of the times. Today, the common man is often expressed by the “99%,” and many accept that the dominant vested interest is that of global banks. Unlike in Veblen’s times, economists today have many historical experiments in economic management that they can consult. By employing logic, historical experience, and an understanding of our current global finance-led capitalism, we offer a preliminary institutionalist analysis of the mechanisms of current monetary policy that “flood” Wall Street, while leaving employment, production, and investment — Main Street — all but forgotten. We then explain how vested interests have abandoned fiscal policy and left a deflationary macroeconomic environment.     

Understanding the Relationship of Service Fairness,Emotions, Trust,and Tourist Behavioral Intentions at a City Destination in China

This study presents a cognitive appraisal model that identifies consumption emotions and trust as key mediators in the relationship between perceived service fairness and behavioral intentions (i.e., revisit intentions and word-of-mouth (WOM) referrals). The structural equation modeling (SEM) technique was employed to examine empirically a conceptual tourist behavior model using questionnaires answered by 541 tourists in Xiamen, a “garden city” in China. The findings confirmed the mediating role of emotions and trust, which imply that the travel behavioral intentions formation process is both an emotional experience process and a relationship building process between tourists and the destination service providers. By understanding the relationship and linkages between perceived service fairness and behavioral intentions, city managers, urban tourism managers, and service providers can formulate more effective marketing strategies to strengthen tourists’ loyalty, revisit and WOM referral intentions.     

Executive compensation in less regulated markets: the impact of debt monitoring

This paper shows that in the lightly regulated Alternative Investment Market (AIM) voluntary corporate board structures might not reduce agency costs between shareholder and executive directors. In this less regulated market, we find that the extent of debt affects executive pay. In addition, the theoretical determinants of executive pay affect CEO and other executives’ pay and incentives differently in this market. We find no evidence that debt levels affect CEO pay in a matched sample of Main Market firms. Our results suggest that debtholders could be better monitors of executive directors’ actions, in comparison to voluntary governance committees in less regulated markets.     

Liquidity commonality in commodities

We examine liquidity commonality in commodity futures markets. Using data from 16 agricultural, energy, industrial metal, precious metal, and livestock commodities, we show there is a strong systematic liquidity factor in commodities. Liquidity commonality was present in 1997–2003 when commodity prices were relatively stable and during the recent boom. There is some support for both “supply-side” and “demand-side” explanations for this commonality. We find no evidence of a consistent link between stock and commodity liquidity in general. Energy commodities appear to provide a better hedge against equity market liquidity risk than the other commodity families.     

Economic structure and factor payments

There is a growing body of evidence that the labour payment share in national income varies across countries and over time, suggesting that the popular aggregate Cobb–Douglas production function may not capture income share dynamics. There remains conflicting evidence on the importance of natural resource rents among low income economies and on estimates of the rate of return to produced capital. This paper focuses on the structural differences among countries, confirming the importance of the agriculture sector in estimates of labour and land’s share of factor income based on 81 countries at diverse levels of economic development in the year 2005. I find that cross-country data are best modelled by a CES production function with an elasticity of substitution of 0.8 and that many low income countries have a higher return to capital than the United States.     

ETF arbitrage: Intraday evidence

We use two extremely liquid S&P 500 ETFs to analyze the prevailing trading conditions when mispricing allowing arbitrage opportunities is created. While these ETFs are not perfect substitutes, our correlation and error correction results suggest investors view them as close substitutes. Spreads increase just before arbitrage opportunities, consistent with a decrease in liquidity. Order imbalance increases as markets become more one-sided and spread changes become more volatile which suggests an increase in liquidity risk. The price deviations are followed by a tendency to quickly correct back towards parity.     

Complainers versus non-complainers: a multi-national investigation of individual and situational influences on customer complaint behaviour

Abstract

One of the least understood areas in customer complaint behaviour (CCB) research is why some customers complain and others do not in similar dissatisfaction situations. Prior research has explored differences in customer characteristics between complainers and non-complainers, but not in association with relevant situational factors. This gap is addressed with a new conceptual framework incorporating two situational variables – customer dissatisfaction and involvement – and two consumer traits – impulsivity and self-monitoring. Several hypotheses about their main and interaction effects are tested in two different contexts, using a survey-based study in three countries (Singapore, South Korea, and the United States). Specifically, it is shown that CCB is positively associated with involvement and impulsivity, and negatively with self-monitoring. Involvement and impulsivity are shown to moderate the association between dissatisfaction and CCB positively, and self-monitoring moderates it negatively. Some implications and directions for future research are also discussed.     

Tourism development and behavioural changes: evidences from Ratanakiri province,Kingdom of Cambodia

This research paper presents the findings of a research undertaken in Ratanakiri province, Kingdom of Cambodia (Under the RETA 6190 ADB TA project on ‘Preventing the Trafficking of Women and Children and Promoting Safe Migration in the GMS’), with the aim to evaluate the impact of an airport rehabilitation project. It highlights the role that infrastructure development, with a focus on tourism-related projects, can play in a remote rural area and its consequences on local population, especially ethnic minorities. For remote areas, tourism is considered as an accelerating influence on globalisation and in-migration, which, in turn, are seen as the main factors affecting remote local communities to modify behaviours changing from valuing utility to valuing exchange. The rapidity of these cultural changes increase rural depopulation and the vulnerability of human beings to a range of negative situational factors, including loss of land, erosion of community structures and coping mechanisms, and as well as exploitative practices such as debt bondage, prostitution and human trafficking.