Exploring subcultural differences in hofstede's value survey: The case of the Chinese

Hofstede's Value Survey Module (VSM) identifies fundamental differences in the way people in various countries perceive and interpret their worlds. After adjusting value scores on the basis of demographic features of samples in the present study, values between subcultural groupings in four Chinese-populated regions (Taiwan, Beijing, Hong Kong, and Wuhan) were compared, and strong subcultural differences revealed. A methodology is proposed to facilitate VSM comparisons using limited, secondary data sources. Propositions concerning subcultural differences are suggested on the basis of the findings.     

Education and wages in the Czech and Slovak Republics during transition

An employer-based sample of over 400,000 Czech and 125,000 Slovak men is used to estimate the benefits of education in 1995–1997. By 1997, education of all types had become substantially more highly rewarded in both countries than it was either under communism or in the early years of the transition. Education's value began increasing earlier and reached a higher level in the Czech Republic than in Slovakia. Increases in the value of education were especially pronounced for types of education ideologically disfavored by communism.     

THE ASSOCIATION BETWEEN EXECUTIVE SUCCESSION AND DISCRETIONARY ACCOUNTING CHANGES: EARNINGS MANAGEMENT OR DIFFERENT PERSPECTIVES?

This paper investigates the association of executive changes with both income increasing and decreasing accounting changes. Two potential explanations for the hypothesis that firms with changes in CEOs are more likely to make accounting changes are examined. The earnings management explanation holds that new management intervenes in the financial reporting process in order to alter perceptions of effectiveness. The different perspectives explanation holds that managements have different tastes, perspectives, or views of the world than the predecessor. Evidence supports the different perspectives explanation.     

The role of federal funding on the demand for state and local government spending

Federal aid to state and local governments lowers the perceived tax price of state and local government output and, in this way, affects the demand for state and local government. After reviewing some theoretical models, an empirical investigation using data from 1960–89 shows that federal aid makes the demand for state and local government spending more income-elastic. State and local government expenditures have grown more rapidly than federal government expenditures since 1960 and there is some empirical support for the idea that federal aid was an important contributing factor.     

Social networks,rule of law and economic growth in China: The elusive pursuit of the right combination of private and public ordering

Social networks have always been an integral part of every society. However, they are different and play a more prominent role in Asian societies. In particular, it will be argued that the relationship of private ordering, networks of relationships, and informal law to formal law are necessary in addition to rule of law for a sustained economic growth. This is evident in how various Asian countries escaped the financial crisis that crippled the region. Rather than an analysis of several different Asian societies, China will be the main focus.     

Demand Curves for Stocks Do Slope Down: New Evidence from an Index Weights Adjustment

Weights in the Toronto Stock Exchange 300 index are determined by the market values of the included stocks' public floats. In November 1996, the exchange implemented a previously announced revision of its definition of the public float. This revision, which increased the floats and the index weights of 31 stocks, conveyed no information and had no effect on the legal duties of shareholders. Affected stocks experienced statistically significant excess returns of 2.3 percent during the event week, and no price reversal occurred as trading volume returned to normal levels. These findings support downward sloping demand curves for stocks.     

Firms as knowledge repositories

One reason firms exist is to serve as knowledge repositories. Firms compete against other firms and need profits to survive. Firms must be entrepreneurial to discover and act on profit opportunities. Knowledge required to spot profit opportunities is disbursed among economic actors and often is tacit knowledge that can only be obtained by those in close proximity. This gives rise to agglomeration economies, which can be leveraged within firms. In a competitive economy people have an incentive to keep knowledge from people in other firms, but to share it with those in their firm. One role of the firm is to act as a repository of knowledge for those within the firm’s boundaries, and to lower the cost of obtaining knowledge about profit opportunities. Entrepreneurs need firms to contain and capture the profits from their innovations.     

Plastic wastes and the market penetration of auto shredders

In recent years the increased interest in the recycling of plastic wastes has lead to the development of numerous technological approaches to utilizing plastic wastes of varying qualities and types. A major problem with these technologies, however, is the unacceptable contamination levels in the available wastes. This paper examines one area from which relatively uncontaminated plastic wastes can be obtained—shredder residue from automotive shredder operations. In addition to reviewing the historical adoption of shredders, this paper uses econometric approaches to investigate the extent to which the shredder technology has penetrated the market for scrap steel. These approaches suggest that the movement toward shredders and away from the more conventional baler operations that have historically been used to process retired autos is slowing.