Disability and the Performance Paradox: Can Social Capital Bridge the Divide?

This research captures the physical and social experience of disability by analysing the practical performance problems that arise when an ill or injured employee returns to work, and documenting how those problems are interpreted. The grounded theory approach suggests an alternative to the traditional biomedical or social perspectives on disability. Field research reveals four themes: attendance, disciplinary history, peer interaction and task function. Managerial and co‐worker perceptions were significantly affected by interactions that occurred before any disability was known to exist. Historic patterns of social exchange strongly suggest that social capital theory explains problematic work performance.     

Fair Trade Community Café Expansion

This case concerns the expansion of a small café in the Atlantic provinces of Canada. Ray Merriam had successfully operated a fair trade café in Truro for two years and was ready to expand his business by opening cafés in other locations. He has received an offer from an investor for partnership in a new café in the same time. While Ray was really excited about the investment, he had been considering expanding the business through franchising. Students will have an opportunity to research partnership and franchise agreements. They are expected to analyze the advantages and disadvantages of each and make a recommendation to Ray. The typical issues arising in a franchise or partnership agreement should be addressed. This practical experience would likely be invaluable for the future of many students who open their own businesses.     

United Nations—projects from Benin to Bali

Technical assistance for tourism in developing countries comes under the auspices of the UN Development Programme. Of the about 4700 projects that the Programme runs tourism specifically accounts for 137 although there are also spin-offs from other funded projects such as communications and transport. Tourism is an especially important part of the UNDP's efforts in developing countries as Daphne Miller, of the UNDP Division of Information, reports.     

No-arbitrage bounds for the forward smile given marginals

We explore the robust replication of forward-start straddles given quoted (Call and Put options) market data. One approach to this problem classically follows semi-infinite linear programming arguments, and we propose a discretisation scheme to reduce its dimensionality and hence its complexity. Alternatively, one can consider the dual problem, consisting in finding optimal martingale measures under which the upper and the lower bounds are attained. Semi-analytical solutions to this dual problem were proposed by Hobson and Klimmek [Financ. Stochastics, 2015, 19, 189–214] and by Hobson and Neuberger [Math. Financ., 2012, 22, 31–56]. We recast this dual approach as a finite-dimensional linear program, and reconcile numerically, in the Black–Scholes and in the Heston model, the two approaches.     

Political connections and corporate diversification in emerging economies: Evidence from China

Drawing upon the resource-based view, this study examines how political connections affect corporate diversification in an emerging economy. Data from a sample of 1,280 Chinese public firms over 2002?C2005 show a strong positive relationship between political connections and corporate diversification. We also find that the positive relationship between political connections and corporate diversification is moderated by the level of state ownership in firms and the level of regional institutional development. Theoretical and managerial implications are discussed.     

From mandatory to voluntary: consumer cooperation and citizenship behaviour

Customer participation of mandatory (ensuring the completion of a service delivery) and voluntary behaviours (achieving the optimal results of the service) influence the outcomes of service organizations. This study examines how service firms transform from coproduction to cocreation in sharing economy by enhancing customer voluntary behaviour through encouraging customer mandatory behaviour. This study explores the mediating effect of perceived value on the mandatory–voluntary relationship, and the driving effect of customer readiness on mandatory behaviour. A total of 181 valid questionnaires were collected from the Taiwanese bed and breakfast sector and analysed by structural equation analysis. The results reveal: (1) the strong impact of customer mandatory behaviour on voluntary behaviour, (2) the partial mediating effect of perceived value on the mandatory-voluntary relationship, and (3) the distinct effects that cooperation has on helping others and word-of-mouth. The findings support the influential roles of customer readiness factors, especially ability, on triggering mandatory behaviour.     

PRICE SETTING PRACTICES IN GREECE: EVIDENCE FROM A SMALL‐SCALE FIRM‐LEVEL SURVEY

The paper documents the price setting practices followed by some 400 or so firms operating in Greece. Survey replies reveal a low percentage of firms changing prices with frequency higher than annual and staggering of price changes during the year. As to firms’ reactions to unexpected shocks, prices appear to adjust sluggishly to cost shocks with asymmetries in price adjustment across positive and negative shocks. Adjustments to increases in costs appear speedier than those to reductions in demand. The data confirm a result found for other countries: the existence of cross‐sectional variations in price setting strategies and in the extent to which prices are adjusted in reaction to unexpected shocks. The results suggest a positive association between, on the one hand, product market competition and, on the other hand, state‐dependent pricing, frequent price changes and the likelihood of a price adjustment following an adverse demand shock.