Benchmarking Tendencies in Managerial Mindsets: Prioritizing Stockholders and Stakeholders in Peru, South Africa, and the United States

Managers in Peru, South Africa, and the United States were classified into four groups along Singhapakdi et al. (J Bus Ethics 15:1131–1140, 1996) Perceived Role of Ethics and Social Responsibility (PRESOR) scale. In Peru and the United States, individuals in the ethics and social responsibility first category reported greater satisfaction with organizational performance than did those in the profits first category. Moral capitalists—individuals who report high emphases on both social responsibility and profits—reported the highest satisfaction with performance in the United States. Managers in the United States are more likely than their counterparts in Peru and South Africa to reject the mutual exclusivity of prioritizing social responsibility and profits simultaneously. Directions for future research are outlined.     

Boris Artzybasheff and the art of anthropomorphic marketing in early American consumer culture

Abstract

This paper undertakes a critical historical review of the role of anthropomorphism in marketing and advertising in American consumer culture from the 1940s onwards. We review the art of the acclaimed illustrator Boris Artzybasheff who among other artistic achievements created images that regularly featured on the covers of Life, Fortune, and Time. As well as working in media, Artzybasheff also produced advertising images, and imagery for propaganda. One of the characteristic features of Artzybasheff’s commercial art is the use of anthropomorphism, especially with technology industries and products. His art spans the periods prior to, during and after World War II, as well as the Cold War era and the onset of modern consumer culture in America.     

Review: Time machines,ethics and sustainable development: accounting for inter-generational equity in public sector organizations

This review paper explores the key challenges associated with effective inter-generational equity accounts in relation to the governance of public sector organizations and sustainable development transformations. Three different approaches to inter-generational equity accounting are evaluated and an outline for future research is provided.     

On the relationship between exchange rates and equity returns: A new approach

This paper employs a new approach in order to investigate the underlying relationship between stock markets and exchange rates. Current approaches suggest that the relative equity market performance of two countries is linked to their exchange rate. In contrast, this study proposes an alternative approach where one global variable – global equity market returns – is believed to have an effect on exchange rates, with the relative interest rate level of a currency determining the sign of the relationship. Our empirical findings suggest that exchange rates and global stock market returns are strongly linked. The value of currencies with higher interest rates is positively related with global equity returns, whereas the value of currencies with lower interest rates is negatively related with global equity returns.     

Volatility and Spillover Effects of Yen Interventions

We consider the effects of interventions by the Bank of Japan's (BoJ) on the intraday volatility of the US dollar/Japanese yen (USD/JPY) exchange rates and their spillovers to volatility of the euro/JPY exchange rates. We use 15‐minute data during the period 2000–2004 and employ multivariate generalized autoregressive conditional heteroskedasticity (GARCH) modeling and quartile plots of intraday volatility to analyze the intraday effects of the BoJ interventions on exchange rate volatility. The results indicate that the BoJ interventions decrease daily volatility of the USD/JPY exchange rate but increase the volatility of the euro/JPY series. On intervention days, the intraday volatility has different patterns to those on non‐intervention days.     

Automata,Joint Production and the Labour Theory of Value

In the case of semi-automatic production systems, the theorem by Fillipini & Fillipini (1981) does not specify sufficient conditions for positive labour values. An additional condition sufficient for the positivity of labour values in semi-automatic production systems is introduced and interpreted.     

The dynamics of inflation: a study of a large number of countries

Over the last twenty years the statistical properties of inflation persistence has been the subject of intense investigation and debate without reaching a unanimous conclusion yet. In this article we attempt to shed further light to this debate using a battery of econometric techniques in order to provide robust evidence on the degree of inflation persistence and whether this has changed during the period in which several countries have followed inflation-targeting regimes or new monetary regimes. We consider the inflation rates of thirty developed and emerging economies using quarterly data for the period 1958 to 2007 which include alternative monetary policy regimes. The coefficient of the inflation parameter is estimated by Ordinary Least Squares (OLS), Autoregressive Moving Average (ARMA) and Autoregressive Fractionally Integrated Moving Average (ARFIMA) models. Furthermore, the grid-bootstrap Median Unbiased (MUB) estimator approach developed by Hansen (1999) is used to estimate the finite sample OLS estimates coupled with the 95% symmetric confidence interval. We also examine parameter stability of persistence coefficients by estimating a model with time-varying parameters.     

Accounting for Net Entry into Greek Manufacturing by Establishments of Varying Size

Adopting the view that size matters in understanding entry (exit) patterns, this research explores the nature and causes of net entry patterns of various size-defined groups of establishments in the case of a less industrialised country – Greece. The hypothesis to be tested is that the determinants of entry are not independent of firm size. Throughout this paper the analysis has had to confront difficulties arising from the use of net entry rates defined at the size class level. The degree of size disaggregation used in this paper is considerably finer than used before. Five employment-defined size classes have been used instead of sliding cut-off points discriminating between small and large firms. Unlike other research using pooled models to explain variation in entry (exit) rates across industries, the data used here are characterised by the absence of significant industry-specific systematic variation. Overall, the results obtained in this paper indicate that there is a gradation in the responses of different size classes to stimuli defined at the industry level. Evidence is offered that small firms are different in that they manage to overcome entry barriers, perhaps adopting different survival strategies, and that large firms are well aware of market conditions and are in an advantageous position to overcome many of the problems imposed by entry barriers. Size classes in the middle of the size class distribution offer a rather mixed result due to size-related advantages and disadvantages.