Abstracts

The Review of Black Political Economy -     

Employee Reactions to Internet Monitoring: The Moderating Role of Ethical Orientation

Research has demonstrated that employee reactions to monitoring systems depend on both the characteristics of the monitoring system and how it is implemented. However, little is known about the role individual differences may play in this process. This study proposes that individuals have generalized attitudes toward organizational control and monitoring activities. We examined this argument by assessing the relationship between employees’ baseline attitudes toward a set of monitoring and control techniques that span the employment relationship. We further explore the effects of employees’ generalized attitudes toward monitoring and their individual ethical orientations on their attitudinal reactions to an Internet monitoring system implemented in their workplace. Results of a longitudinal study indicate that as expected, prior beliefs and ethical orientation interact to affect employees’ reactions to monitoring systems. Implications for research and practice are discussed.     

Exchange rate exposure, foreign currency derivatives and the introduction of the euro: French evidence

We investigate the impact of the introduction of the Euro on exchange rate exposures for French corporations and examine the corporate use of foreign currency derivatives to hedge exchange rate exposure post-Euro. Our findings indicate that the introduction of the Euro is associated with both a reduction in the number of firms that have significant exchange rate exposure and the absolute size of exposure. Consistent with these reduced exposures, French firms use foreign currency derivatives less intensively. Furthermore, the use of foreign currency derivatives is found to be associated with lower exchange rate exposure but there is insufficient evidence that these instruments are more effective in the post-Euro environment.     

Transaction costs in an illiquid order‐driven market

Transaction costs in many international equity markets are much larger than those in the USA. This raises questions such as what trade size these reported trading costs relate to and whether investors can reduce trading costs by timing their trades. We show, using data from the order‐driven New Zealand market, that transaction costs are frequently lower for larger trades, particularly in small stocks, and investors are able to reduce costs by timing their transactions. While investors who require immediate execution incur transaction costs that are much higher than reported average costs, patient investors can trade at much better rates.     

Interns’ perceptions of HR practices and their influence on fit and intentions to join

Abstract

This study examines interns’ perceptions of HR practices and their influence on person–organization fit, person–job fit, and intentions to join the organization. The hypotheses are developed with signaling theory and attraction, selection, attrition (ASA) theory. Utilizing a time lagged study design of 71 interns employed in a United States based service firm, we found positive perceptions of HR practices rated early in the internship were related to increased person–organization fit, person–job fit, and intentions to join the organization at the end of the internship. Our findings also showed that person–organization fit and person–job fit fully mediated the relationship between HR practices and intentions to join the organization.     

Are candlestick technical trading strategies profitable in the Japanese equity market?

We show that candlestick charting, the oldest known form of technical analysis, is not profitable in the Japanese equity market over the 1975–2004 period. Candlestick technical analysis, which was developed in Japan in the 1600s, is deeply intertwined with Japanese culture and is very popular in Japan. However, there is no evidence candlestick technical trading strategies add value in either the entire 30 year period, in three 10 year sub-periods or in bull or bear markets.

Inter-fuel substitution,technical change and the demand for energy in the UK economy

A model for energy demand, based on a translog cost function is formulated. Unlike previous studies, technical progress is modelled by means of stochastic, as opposed to deterministic, trend components. The model is estimated using quarterly UK data for four economic sectors, and forecasts of the future level of demand are made.     

Amount of Label Information Effects on Perceived Product Quality

This paper points out the need for advertisers to consider the amount of label/package ingredient information as a variable influencing consumer quality perceptions. Previous research results linking the amount of nutritional information presented on labels with quality perceptions are reviewed, and results of an exploratory study concentrating on non-nutritional ingredient information are presented. Tentative implications for advertisers and multinational marketers are drawn.