Harnessing Multidimensional Legitimacy for Codes of Ethics: A Staged Approach

Journal of Business Ethics - How can codes of ethics acquire legitimacy—that is, how can they lay down obligations that will be seen by their subjects as morally binding? There are many...     

Assessing value-in-use: A conceptual framework and exploratory study

Developing approaches for understanding customer perceived value is a priority for managers and scholars alike. A conceptual framework for assessment of value-in-use is proposed and explored within the context of a maintenance service provider. In contrast to value models in previous empirical research, the framework includes assessment not just of provider attributes but also of the customer's usage processes, as well as customer evaluations of the value-in-use they obtain. Interviews with members of a cross-disciplinary buying group provide support for the framework, including the observations that individuals can assess the quality of their usage processes and that they can articulate value-in-use at both organisational and individual levels; the further concept of network quality also emerges from the data. Assessment of usage process quality as well as service quality evolves as the customer's goals evolve. Practitioners may wish to elicit usage process quality and value-in-use as well as service quality. Research directions include scale development for both usage process quality and value-in-use.     

Testing mean reversion in target-zone exchange rates

This study applies a multinomial logit model of human-capital migration to examine the factors influencing the movement of physicians within Canadian provinces between 1976 and 1992. The empirical investigation covers general practitioners and specialists (it excludes interns/residents) between seven regions (Atlantic Canada, Quebec, Ontario, Manitoba, Saskatchewan, Alberta and British Columbia). The results suggest that differences in real income have a positive and significant effect on a physician's decision to migrate form one province to another. Provinces with the highest after tax income, highest expenditure per physician, and highest fee-per-service rates have the highest net rate of in-migration. Income differences are however, not the only factor influencing a physician's choice to move. Working conditions within a province, which we proxy with the number of hospitals beds and health expenditures per capita, are also important factors. Likewise, the ratio of rural to urban population, distance between the major city in each province and provincial population all have a negative impact on a physician's migration choice. Finally, a dummy variable is used to allow for language differences between Quebec and the rest of the provinces and find that language differences have a significant and negative impact on a physician decision to migrate.     

The effects of changing U.S. MFN status for China

The Effects of Changing U.S. MFN Status for China. — This paper focuses on the effects of the U.S. not renewing Most Favored Nation (MFN) trade status for Chinese imports. An applied general equilibrium model is used to simulate the increase in tariffs from the column 1 (MFN) to the column 2 (non-MFN) duty level. Using 1992 data, the results show Chinese exports to the U.S. drop by approximately $11 billion, or over 50 percent. The U.S. and China both experience a decline in real income. While these results suggest MFN withdrawal would have a larger detrimental effect on the Chinese economy than on the U.S. economy, the estimates do not include Chinese retaliation.     

Why didn't Canada have a banking crisis in 2008 (or in 1930, or 1907, or …)?

The financial crisis of 2008 engulfed the banking system of the US and many large European countries. Canada was a notable exception. In this article we argue that the structure of financial systems is path‐dependent. The relative stability of the Canadian banks in the recent crisis compared to the US in our view reflected the original institutional foundations laid in place in the early nineteenth century in the two countries. The Canadian concentrated banking system that had evolved by the end of the twentieth century had absorbed the key sources of systemic risk—the mortgage market and investment banking—and was tightly regulated by one overarching regulator. In contrast, the relatively weak, fragmented, and crisis‐prone US banking system that had evolved since the early nineteenth century led to the rise of securities markets, investment banks, and money market mutual funds (the shadow banking system) combined with multiple competing regulatory authorities. The consequence was that the systemic risk that led to the crisis of 2007–8 was not contained.