Repugnance for “menial jobs”

A man's sense of well-being and meaningfulness in work is not so much a matter of external circumstances—the kind of job he has—as it is of his deepdown belief that he is a worthy human being. If he lacks that, any job can seem dissatisfying and “menial.” Executives may suffer from this (or related behaviors) as much as assembly-line workers.     

Determinants of the rate of subdivision development

The subdivision development process is reviewed and an assessment made of the factors which affect the rate at which vacant single-family detached lots come onto the market. A one-equation behavioral model of this flow is then formulated and estimated. The empirical results indicate that, in addition to seasonal factors which affect the flow of lots, the rate of interest and the wage component of servicing costs have an inverse effect on this flow, and the selling price of serviced lots a positive effect.     

Less labor, longer lives: time to share

Two driving forces are changing modern life, First, significantly less labor is needed as productivity rises. Second, people are living longer—anticipate an 85-year life expectancy by 2020. We focus on two prominent consequences of these interacting drwers: new modes to allocate wealth need to be devised as those linked to 'the job' prove inadequate; And how we spend our time is changing. We consider time distribution among three forms of work (market, community, home), learning and communication, and play. We conclude that dramatic policy actions are in order to break free of societal reliance upon traditional jobs and to provide the expanding senior population a good quality of life.     

OPEN MARKET REPURCHASES: THE VALUE FROM BUYING SHARES AT A DISCOUNT

This article shows that share repurchase announcements create value for shareholders when the shares of the industrial firm sell at a discount from the value of the underlying assets, even when shareholders and managers share full information about the firm's prospects and the firm's operating performance is not expected to improve. The value created by capturing the discount on the repurchased shares is a function of only two variables: the percentage discount prior to the announcement and the proportion of shares to be repurchased.
For a sample of 100 companies selling below net asset value, the authors report that the excess stock returns surrounding their announcements of open market repurchases are (significantly) positively associated with the authors' estimates of the value captured from buying shares at a discount. Moreover, the stock market's response to repurchase announcements by companies that are selling at a discount is considerably more positive than to announcements by firms selling at a premium.     

Will the Collapse of the American Dream Lead to a Decline in Ethical Business Behavior

This study compares employee attitudes to their reports of whether they consider their socio-economic status to be higher, the same, or lower than that of their parents. The premise of the research was based on the apparent deterioration of the expectation that each generation will live in greater economic comfort than their parents, referred to as a vital component of the American dream. Where this pattern of socio-economic progress has been interrupted, it may relate to certain attitudes. These attitudes, in turn, are likely to influence behavior. Here the focus is on whether employees' survey responses indicate they are honest, trustworthy, and tolerant. Differences in these characteristics that relate to self-reported socio- economic progress, may serve to explain the occurrence of certain behaviors among people who otherwise seem highly ethical. This information may also help create organizational awareness of the potential for unethical behavior, when employees have been blocked from their own expectations for betterment.     

Strategy and society: the link between competitive advantage and corporate social responsibility

Governments, activists, and the media have become adept at holding companies to account for the social consequences of their actions. In response, corporate social responsibility has emerged as an inescapable priority for business leaders in every country. Frequently, though, CSR efforts are counterproductive, for two reasons. First, they pit business against society, when in reality the two are interdependent. Second, they pressure companies to think of corporate social responsibility in generic ways instead of in the way most appropriate to their individual strategies. The fact is, the prevailing approaches to CSR are so disconnected from strategy as to obscure many great opportunities for companies to benefit society. What a terrible waste. If corporations were to analyze their opportunities for social responsibility using the same frameworks that guide their core business choices, they would discover, as Whole Foods Market, Toyota, and Volvo have done, that CSR can be much more than a cost, a constraint, or a charitable deed--it can be a potent source of innovation and competitive advantage. In this article, Michael Porter and Mark Kramer propose a fundamentally new way to look at the relationship between business and society that does not treat corporate growth and social welfare as a zero-sum game. They introduce a framework that individual companies can use to identify the social consequences of their actions; to discover opportunities to benefit society and themselves by strengthening the competitive context in which they operate; to determine which CSR initiatives they should address; and to find the most effective ways of doing so. Perceiving social responsibility as an opportunity rather than as damage control or a PR campaign requires dramatically different thinking--a mind-set, the authors warn, that will become increasingly important to competitive success.