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41.
September 11 attacks matter, and why not? Given that globalization has integrated financial markets, the magnitudes of the effect of the September 11 attacks on global markets are expected to be pervasive. We used data from 53 equity markets to investigate the short term impact of the September 11 attacks on markets' returns and volatility. Our empirical findings indicate that the impact of the attacks resulted in significant increases in volatility across regions and over the study period. However, stock returns experienced significant negative returns in the short-run but recovered quickly afterwards. Nevertheless, we find that the impact of the attacks on financial markets varied across regions. The implication here is that the less integrated regions (e.g., Middle East and North Africa) are with the international economy, the less exposed they are to shocks. 相似文献
42.
Michael Dickmann Vesa Suutari Chris Brewster Liisa Mäkelä Jussi Tanskanen Christelle Tornikoski 《International Journal of Human Resource Management》2013,24(16):2353-2371
AbstractBuilding on a modern careers approach, we assess the effects of working abroad on individuals’ career capital. Given the dearth of longitudinal studies, we return to a sample of economics graduates in Finland eight years later. We measure changes in three dimensions of career capital; ‘knowing how’, ‘knowing whom’, ‘knowing why’ and find that company assigned expatriates learn more than self-initiated expatriates. All three career capital areas benefit from international experience and all are increasingly valued over time. Based on our findings, we conclude that a dynamic notion of career capital acquisition and use is needed. Managerial implications include the need for a wider view of talent management for international businesses. 相似文献
43.
Anne Linna Ari Väänänen Marko Elovainio Mika Kivimäki Jaana Pentti Jussi Vahtera 《International Journal of Human Resource Management》2013,24(3):706-721
Changes in the perception of organisational justice have received limited attention in earlier studies. The purpose of this study is to examine whether a 2-year large-scale participative intervention had an effect on justice perceptions among employees. We conducted surveys in three towns (two case towns, one control town) on a total of 1584 municipal employees in 114 work groups that were observed before and after the interventions. Multilevel regression analysis showed that the participative intervention approach was associated with improvement in employees' justice perceptions. Moreover, the employees' evaluation of the implementation of intervention played an important role. Only among those who evaluated that the intervention had been successful, there was an improvement in their perceptions of interactional and procedural justice. The changes in organisational justice were seen at both individual and work group levels. 相似文献
44.
Anne Linna Marko Elovainio Kees Van den Bos Mika Kivimäki Jaana Pentti Jussi Vahtera 《International Journal of Human Resource Management》2013,24(7):1360-1375
This large-scale longitudinal study examined the hypothesis that the experienced usefulness of performance appraisal interviews affects justice perceptions and that changes in work life contribute to this effect. Our findings from 6592 employees who were nested in 1291 work groups over a 4-year period and who at baseline had not applied for a performance appraisal interview support this prediction. Specifically, the results of multilevel regression analyses showed that interviews that were experienced as useful improved justice perceptions significantly. In contrast, when the interviews were experienced as unhelpful, the impact on justice perceptions was negative. Furthermore, during negative changes in work life, useful interviews were especially important in helping prevent the deterioration of justice perceptions. The implications for organizational justice and the usefulness of the performance appraisal are discussed. 相似文献
45.
The marketing literature makes a distinction between products and services. We argue that, in the Internet, the characteristic features of services disappear making services more like products. Is it therefore necessary or even possible to differentiate products from services on the Internet? In this paper we review the basic assumptions about services. We show that these assumptions are no longer valid in Web-based marketing. We review the traditional service model and show that it is no longer sufficient for modeling electronic services. We propose an expanded model, the electronic marketing model, which does not necessitate the distinction between products and services. Instead, the model prompts managers to focus on the key player—the customer. 相似文献
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We apply the three-dimensional analysis of wavelet coherency to examine the integration of 22 emerging stock markets with the U.S. market. We find a high degree of co-movement at relatively lower frequencies between the U.S. and the 22 individual emerging markets. Our results show that the strength of co-movement, however, differs by country. For example, we report a high degree of co-movement between the U.S. and Brazil, Mexico and Korea, but low co-movement with and Egypt and Morocco. Our analyses also document a general change in the pattern of the market relationship after 2006, where we detect co-movements at relatively higher frequencies. Co-movement at the highest frequencies is, however, weak for fluctuations with duration less than a year. Our findings imply that investing selectively in emerging markets may provide significant diversification benefits which, invariably, depend on the investment horizon. 相似文献
49.
This paper produces a theory of value for Gaussian information with two states and two actions, tracing the solution of the option pricing formula, but for the process of beliefs. We derive explicit formulas for the value of information. The marginal value is convex and rising, concave and peaking, and finally convex and falling. As the price falls, demand is initially zero, and eventually logarithmic. Its elasticity exceeds one, and falls to zero with the price. Demand is hill-shaped in beliefs, zero at extremes. Our results approximate models where information means the sample size for weak discrete informative signals. 相似文献
50.
Jussi Lankoski Erik Lichtenberg Markku Ollikainen 《Environmental and Resource Economics》2010,47(1):1-22
Heterogeneity of agricultural landscapes may necessitate the use of spatially targeted instruments. But costly enforcement
may be needed to ensure compliance with these policies. This paper examines the design of agri-environmental policies designed
to achieve reductions in fertilizer application rates and installation of riparian buffers through the use of incentive-based
instruments. We derive monitoring strategies capable of ensuring perfect compliance from risk neutral farmers given realistic
limits on penalties for non-compliance. We then apply that framework empirically using a parametric model reflecting Finnish
agricultural and environmental conditions. The results of our simulations indicate that subsidies for installing and maintaining
buffer strips, used alone, are the most cost effective means of reducing nitrogen runoff from crop production. This policy
is also the most attractive politically, in that it reduces farm income less than the alternatives considered. 相似文献