Market Development Determinants for Corporate Bonds in National Currencies: Emerging Markets Review

Our paper offers analysis of tendencies and determinants of development of local currency corporate bond markets in the period from 2006 to 2015. We consider a wide range of macroeconomic and institutional factors for 15 bond markets. The sample consists of 600 country-quarter observations. Multifactor linear regression models and the generalized method of moments are applied for the balanced panel data. Our analyses reveals that inflation and its stability, exchange rate, and market capitalization have a significant influence on the share of local currency bonds. Financial and macroeconomic instability stimulates the growth of local currency bond markets.     

Intersectional organizing: Building solidarity through radical confrontation

IR scholars reference intersectionality in relation to organizing, but the field lacks a theoretical construct. Based on 2 years of intimate data access, we examine the 2017 U.S. Women's March as a critical case of “intersectional organizing.” We ground this empirical case study in Critical Race and Intersectionality Theory to show how the intersectional organizing model employed by the Women's March handles identity-based fragmentation, with lessons for building a more inclusive labor movement.     

Entrepreneurial decision-making perspectives in transition economies – tendencies towards risky/rational decision-making

International Entrepreneurship and Management Journal - This paper assesses the ways in which the characteristics of entrepreneurs from transition economies, and the extent to which they...     

The effect of parental leave duration on early-career wage growth

Work–family policies are meant to support labor force participants, but they often result in lower rewards for those who use them. Based on the ideal worker norm framework and signalling theory, we hypothesise that parental leave duration will result in lower wage growth, above and beyond that of having children. The 1997 National Longitudinal Survey of Youth data from 2000 to 2015 are used to test the hypotheses with a longitudinal sample (14 waves) of individuals in the United States who worked before and after taking parental leave (n = 6723). Discontinuous growth models are used to predict the penalty for parental leave duration for men and women. We find that both men and women suffer from a lower hourly wage growth for taking longer parental leave and that there are more severe penalties for taking paid parental leave than taking unpaid parental leave. Practitioner notes What is currently known?

• utilization of parental leave is significantly related to the wellbeing of employees and their families.
• However, employees are penalized for taking parental leave.

What this study adds?

• Paid parental leave, which is mostly available to skilled, professional employees carries a noticeable early-career wage penalty, but the use of unpaid leave, does not.
• Both men and women are penalized for taking parental leave, but the longer parental leaves women take increase the gender pay gap.

Implications for practitioners:

• HR practitioners should monitor whether employees are penalized for taking parental leave.
• HR practitioners should try incentivizing male employees to take parental leave that is comparable to the one taken by their female employees.