Exchange Rate Regimes and Foreign Direct Investment Flows to Developing Countries

Drawing on recent advances in exchange rate regime classifications, the paper examines empirically the effect of exchange rate regimes on foreign direct investment (FDI) flows to developing countries. Using system generalized methods of moments estimation on a panel of 70 developing countries for the period 1985–2004, we find that developing countries adopting de facto fixed or intermediate regimes significantly outperform those opting for a flexible exchange rate system in attracting FDI flows. No statistically significant differences in the FDI‐inducing properties of fixes, intermediates and floats are found using the International Monetary Fund official classification.     

Inter-Satisfaction between Website and Automated Call Distribution (ACD) Systems

Websites and an Automated Call Distribution (ACD) system in a call center are both considered important customer relationship technologies. Integrating concepts from information systems quality and trust transference theory, this paper introduces the concept of inter-satisfaction: the extent to which customer satisfaction with a website leads to satisfaction with an ACD and vice versa. It is hypothesized that dissatisfaction with either the website or the ACD influences potential brand-switching behaviors. A model, largely drawing upon concepts of user satisfaction as developed in information system research, is presented. The model is then tested using data from passengers using Low Cost Carriers (LCCs) in South Korea, specifically 366 passengers at the Jeju International Airport, who experienced both their airlines’ website and call center. A structural equation modeling analysis demonstrates that satisfaction with the website transfers to satisfaction with the ACD system, but not vice versa, and that only dissatisfaction with the website creates a brand-switching intention.     

The Interaction of Learning Styles and Teaching Methodologies in Accounting Ethical Instruction

Ethical instruction is critical for trainee accountants. Various teaching methods, both active and passive, are normally utilised when teaching accounting ethics. However, students’ learning styles are rarely assessed. This study evaluates the learning styles of accounting students and assesses the interaction of teaching methods and learning styles in an ethics instruction environment. The ethical attitudes and preferred learning styles of a cohort (137) of final year accounting students were evaluated pre-instruction. They were then subject to three different teaching methods while studying ethics during an auditing course. When ethical attitudes and preferred learning styles were re-assessed post-instruction, the teaching methods were found to have influenced active learners more than passive ones. Furthermore, when learning styles matched teaching methods used, usefulness was assessed as high but when learning styles and teaching methods differed, usefulness deteriorated significantly. Students displayed a preference for passive learning styles, despite being so advanced in their education. The implications are that instructors should consider learning styles before deciding on appropriate teaching methods, in accounting ethics environments.     

Deep habits and the dynamic effects of monetary policy shocks

We introduce deep habits into a sticky-price sticky-wage economy and examine the resulting models ability to account for the impact of monetary policy shocks. The deep habits mechanism gives rise to countercyclical markup movements even when prices are flexible and interacts with nominal rigidities in interesting ways. Key parameters are estimated using a limited information approach. The deep habits model can account very precisely for the persistent impact of monetary policy shocks on aggregate consumption and for both the price puzzle and inflation persistence. A key insight is that the deep habits mechanism and nominal rigidities are complementary: the deep habits model can account for the dynamic effects of monetary policy shock at low to moderate levels of nominal rigidities. The results are shown to be stable over time and not caused by monetary policy changes.     

Innovative development of the engineering industry

The article presents forecasts and analyses aimed at the justification for the modernization of the Russian economy based on innovative products of the engineering industry. Solutions to the following tasks are proposed: to restore the function of innovations of the engineering industry, to provide the innovative and technological development of the production apparatus of the engineering industry, and significantly increase the share of domestic products in the market of investments and consumer goods.     

Optimal route decision with a geometric ground-airborne hybrid model under weather uncertainty

Adverse weather is the dominant cause of delays in the National Airspace System (NAS). Since the future weather condition is only predictable with a certain degree of accuracy, managing traffic in the weather-affected airspace is a challenging task. In this paper, we propose a geometric model to generate an optimal combination of ground delay and route choice to hedge against weather risk. The geometric recourse model (GRM) is a strategic Probabilistic Air Traffic Management (PATM) model that generates optimal route choice, incorporating route hedging and en-route recourse to respond to weather change: hedged routes are routes other than the nominal or the detour one, and recourse occurs when the weather restricted airspace becomes flyable and aircraft are re-routed to fly direct to the destination. Among several variations of the GRM, we focus on the hybrid Dual Recourse Model (DRM), which allows ground delay as well as route hedging and recourses, when the weather clearance time follows a uniform distribution. The formulation of the hybrid DRM involves two decision variables - ground delay and route choice - and four parameters: storm location, storm size, maximum storm duration time, and ground-airborne cost ratio. The objective function has two components: expected total ground delay cost and expected total airborne cost. We propose a solution algorithm that guarantees to find the global optimum of the hybrid-DRM. Based on the numerical analysis, we find that ground-holding is effective only when combined with the nominal route. Otherwise, it is optimal to fly on the route determined by the DRM without ground delay. We also find the formula of the threshold ground-airborne cost ratio, which we call the Critical Cost Ratio (CCR), that determines the efficacy of ground delay: the higher the CCR, the more effective the strategies involving ground delay. We conclude that both ground delay and route hedging should be considered together to produce the best ATM decisions.     

Job stress,coping strategies,and burnout among hotel industry supervisors in Taiwan

The complex and changing environment of the hospitality industry presents a never ending array of stimuli, pressures and demands which can become sources of stress for hotel supervisors. A focus on the identification of current and potential stressors in organizations, and the development of strategies which individuals and management may use to manage and reduce stress effectively, is imperative. This study is to investigate the perceived level of stress of hotel supervisors, to establish frequency of the use of various coping strategies, and to determine the burnout rate. This study also empirically examines the relationships among stress, coping strategies, and job burnout. A convenient sample of hotel supervisors of large hotels in Taiwan was selected. The return of 298 questionnaires represented 74.5% of the total supervisors surveyed. The study findings suggest that the major job stress of hotel supervisors originates from task characteristic and workload. Moreover, a direct action coping strategy may allow one to perceive the situations as opportunities and may, in turn, contribute to reduce job stress. Furthermore, hotel supervisors experience a lower level of burnout if they apply more direct action strategies in coping with the pressures of their job. The results of this study can be used as part of guidelines including what should be considered to reduce job stress and burnout in the work environment.     

Scientific and technological interactions between Russia and Ukraine: Forecasting opportunities and mechanisms for their implementation

The paper presents the research results of an investigation into the state of scientific, technological, trade and economic interactions between Russia and Ukraine in terms of their potential, prospects, and problems impeding their cooperation. It is shown that there is a considerable scientific and technological potential both in Russia and Ukraine. Opportunities and conditions for the modernization of both countries’ economies are shown to depend on the coordinated use of their potentials.