The Reallocation of Labour and the Lifecycle of Firms

This paper uses a unique US panel dataset of firms and workers toinvestigate the relationship between the firm's lifecycle and the reallocation of labour. We distinguish labour reallocation associated with job reallocation, and reallocation of workers over a fixed configuration of jobs. We find that firms at the beginning and end of their lifecycles contribute disproportionately to labour market lows, with sorting between firms particularly important among young firms, whereas sorting within firms is moreimportant among mature firms. We also find that high churning lows are associated with a lower probability of a young firm surviving.     

Research on unionized grievance procedures: Management issues and recommendations

This paper critically reviews research on unionized grievance procedures to identify key issues for human resource/labor relations executives and to provide recommendations for dealing with these issues. The review covers psychological, sociological, economics, and industrial relations‐based research. Specifically, the authors recommend that senior human resource/labor relations executives and their staffs conceptualize the grievance procedure as a high involvement human resource practice, distinguish between the presence and use of grievance procedures, use grievance data to determine whether grievants or their supervisors suffer management reprisals, assess supervisors' dominant orientation toward employees, determine employee perceptions of grievance procedure fairness, and monitor the effects of work force composition and supervisor selection on grievance activity. © 2000 John Wiley & Sons, Inc.     

Leadership strategies for sustainable development: a case study of Suma Wholefoods

This paper explores possible leadership strategies for a firm wishing to move towards sustainable development, defined in its most holistic, long term, environmental, social and financial sense. Empirical, grounded theory, case study findings from Suma Wholefoods, a socially innovative U.K. worker co‐operative, are used to explore the above research aim. A case study of such a company could prove illuminating considering the importance placed by numerous authors on the links between worker participation, pluralism and sustainable development. The central objective of the paper is to consider to what extent Suma can maintain its pluralist commitment and practically move towards sustainable development, using a contextually appropriate leadership strategy. Realising that sustainable development may be more of a journey than a destination, Suma's past, present and possible future leadership strategies are explored. The case study findings argue against using solely participative or wider pluralist leadership strategies. Alternatively, the findings argue that a business should adopt a contextually appropriate set of leadership styles, based on different contingency theories. For Suma, a possible future leadership strategy would be predominantly pluralist, in order to take account of its enduring pluralist commitment. Copyright © 2000 John Wiley & Sons, Ltd. and ERP Environment     

Unit Root Testing under a Local Break in Trend using Partial Information on the Break Date*

We consider unit root testing allowing for a break in trend when partial information is available regarding the location of the break date. This takes the form of knowledge of a relatively narrow window of data within which the break takes place, should it occur at all. For such circumstances, we suggest employing a union of rejections strategy, which combines a unit root test that allows for a trend break somewhere within the window with a unit root test that makes no allowance for a trend break. Asymptotic and finite sample evidence shows that our suggested strategy works well, provided that, when a break does occur, the partial information is correct. An empirical application to UK interest rate data containing the 1973 ‘oil shock’ is also considered.     

“At Risk” Young People and Preparedness for Work: The Youth Choice Project

This paper is based on the critical evaluation of an initiative devised to support young people, on the margins of criminality, to gain inclusion into mainstream society through the provision of targeted support and work experience. Through a critical analysis of the processes and outcomes of the initiative we will demonstrate that what became known as the Youth Choice project contributed much to enhance the personal and professional development of the young people engaged in the project. We will also demonstrate that Youth Choice impacted positively on young people’s knowledge and attitudes towards decision making and self-development; an improved opinion of self; the development of life skills, confidence, and self-esteem, as well as increased aspirations for the future. We conclude that there is a strong and persuasive economic argument for making similar opportunities available to all ‘at risk’ young people.     

From plan to market: financial statements and economic transition in the East German enterprise

This article examines the changing role of financial accounting in the former East Germany as that country underwent the transition from a centrally planned to a market-driven economy. The German government's insistence on a sales model of privatization in preference to some form of mass privatization, combined with legal requirements to make up equity shortfalls in eastern German enterprises, resulted in a highly centralized and interventionist approach to accounting change. The article reviews and analyses the historical, technical, economic and political aspects of this change process.     

Residual Income Valuation Models and Inflation

Existing empirical evidence suggests that residual income valuation models based on historical cost accounting considerably underestimate equity values. One possible explanation is the use of historical cost accounting under inflationary conditions. In this paper, we use a residual income framework to explore theoretically how historical cost accounting numbers need to be adjusted for inflation in forecasting and valuation. We demonstrate that even in a simple setting where inflation is running at a relatively low level, residual income models are likely to produce severe under-valuations if inflation is not properly taken into account. We use simulated data to reinforce our theoretical findings and to illustrate the difficulties that empirical investigators face working within the confines imposed by real data.     

Conditioning factors for corporate entrepreneurship: an in(ex)ternal approach

In the last years, the business creation and management literature has paid increasing attention to the entrepreneurship that occurs within organizations. Most empirical studies show a positive relationship between corporate entrepreneurship and performance. The objective of this article is to identify which internal and external factors condition corporate entrepreneurship. The study uses two different theoretical perspectives: Resource-Based Theory (for internal factors) and Institutional Economics (for external or environmental factors). Both theories have been widely used in the strategic management and entrepreneurship literature, however, very few studies in the corporate entrepreneurship field are grounded on them together. The research applies negative binomial regression and uses data from the Global Entrepreneurship Monitor (GEM) for the period 2004–2008. Overall the sample has 339.071 observations and it provides information for 9 different European countries (Greece, Spain, Italy, Ireland, the Netherlands, France, the United Kingdom, Denmark and Finland). Results reinforce the importance of internal factors (knowledge, personal networks and being able to identify business opportunities) compared to external (having fear of failure, media impact and the number of procedures to create a company). Contributions of the study are both theoretical and practical. On the one hand, it contributes to the development of the literature in the corporate entrepreneurship field. On the other hand, it provides useful insights for those companies that are interested in entrepreneurship within the organizations.     

Increasing the capacity of conceptual diagrams to embrace contextual complexity

Conceptual models or diagrams have been used for many years to visually convey information, and they represent a subset of graphic presentation more generally. Historically, they have been used to describe, interpret and explain relationships among concepts deemed relevant to the understanding of some phenomena. This paper makes specific recommendations for increasing the capacity of models to clearly convey a particular form of complexity, that involving multiple contexts or levels of analysis. In particular, the inclusion of negotiated or constructed contexts as contexts, the use of small multiples to create a dialog with orienting models around specification decisions, and the representation of alternate scenarios are recommended.