A relational framework for international transfer of diversity management practices

The aim of this paper is to propose that a relational framework, which is underpinned by a contextual and multilevel conceptualisation of diversity management, can help international transfer of diversity management policies and practices. We argue that the mainstream single-level conceptualisations of diversity management within the territory of legal or organisational policy fail to capture the relational interplay of structural- and agentic-level concerns of equality. Consequently, individual choices, organisational processes, and structural conditions – all of which collectively account for unrelenting power disparity and disadvantage within social and employment contexts – remain generally under explored. The paper proposes a relational framework that bridges the divide between macro-national, meso-organisational and micro-individual levels of analyses to arrive at a more comprehensive, realistic and context-specific framing of diversity management, which can overcome the difficulties of international transfer.     

Trade Flows,Exchange Rate Uncertainty,and Financial Depth: Evidence from 28 Emerging Countries

This article investigates the effects of real exchange rate uncertainty on manufactures exports from 28 emerging economies, representing 82% of all developing country manufactures exports, and explores the sources of heterogeneity in the uncertainty effects by controlling for the direction of trade (south‐north or south‐south), and the level of financial development of the exporting country. The empirical results show that for more than half of the countries, the uncertainty effect is unidirectional, either south‐south or south‐north, and the median impact is negative. In addition, while we find that financial development augments trade, exchange rate shocks can negate this effect. Last but not least, trade among developing economies improves export growth under exchange rate shocks.     

Quality in reflective thinking: elicitation and classification of reflective acts

The concept of reflective thinking needs to be instantiated for more effective educational implementations and practice in the process of thinking and learning. This article therefore expounds on the elicitation and classification of the Reflective Acts derived primarily from various studies conducted on reflective practice, student reflections and metacognition. In order to elicit and classify the Reflective Acts, the study employed three sequential phases of analyses: qualitative meta-analysis, purport analysis and Intention Clustering Method. As a result, 17 types of reflective acts were identified and classified into four main categories: Interpretive, Associative, Transformative and Affective. It is concluded in the article that through the presence and awareness of Reflective Acts, the concept of reflective thinking will be better comprehended, perceived and retained, engendering the process of reflective thinking into a straightforward practice to guide individuals to perform structured, efficacious and successful reflective acts in order to improve the quality of their reflective thinking and learning.     

Revenue management for make-to-order manufacturing systems with a real-life application

Abstract

Due to successful applications of revenue management in the airline industry, in recent years, there has been a growing interest to adopt revenue management in make-to-order (MTO) manufacturing systems. Several interrelated decision problems such as order acceptance/rejection, short-term capacity planning, due date assignment, and order scheduling need to be studied simultaneously in order to manage revenues effectively in MTO manufacturing systems. Both the producer’s and customer’s requirements need to be taken into account through some negotiation mechanisms that are sensitive to the service-level reputation of the manufacturing companies. In this article, we propose a new dynamic bid price–based revenue management model that considers all of the aforementioned decision problems simultaneously. A simulation optimization approach is utilized in order to determine the best possible values of control parameters for bid price, due date assignment, and price increment/reduction mechanisms. The performance of the proposed integrated revenue management model is tested on both a hypothetical example and a real problem of a bridal gown company. The computational results show that the proposed model provides significant improvements in total revenue compared to other static and dynamic bid price policies.     

An empirical examination of the implications of arbitrage pricing theory

This paper presents a comprehensive set of tests of the implications of the Arbitrage Pricing Theory. We find, unlike previously reported results, a very limited relationship between the expected returns and the covariance (factor loadings) measures of risk. Furthermore, unique variance measures of risk, while generally making only small contributions to the explanation of asset returns, turn out to be significant about as frequently as the coveriance measures of risk — which is inconsistent with the Arbitrage Pricing Theory model. The intercept tests are more mixed but provide only limited support to the model.     

The Effect of CEO Option Compensation on the Capital Structure: A Natural Experiment

Firms simultaneously choose both their capital and their executive compensation structure. Using the Internal Revenue Code 162(m) tax law as an exogenous shock to compensation structure in a natural experiment setting, I identify firm leverage changes as a result of chief executive officer (CEO) option compensation changes. The evidence provides strong support for debt agency theory. Firms appear to decrease leverage when CEOs are paid with more options and when CEO options become a higher percentage of future cash flows. The findings are robust to controlling for corporate governance and convertible debt.     

Inflation Target Credibility: Do the Financial Markets Find the Targets Believable?

We investigate the credibility of inflation targeting (IT) central banks (CBs) by estimating perceived inflation targets of the financial markets. We calculate financial markets’ beliefs about the inflation targets of 24 IT countries. Then, we analyse whether the financial markets’ beliefs about inflation targets match the announced targets. We conclude that the perceived upper bound of the inflation target is significantly higher than the announced one in many countries. Additionally, the perceived target band is narrower and asymmetric around the mid‐point of the target for most CBs. We examine the implications of these findings and find that IT CBs are more likely to miss their targets when the perceptions of the financial markets are higher than the announced IT targets. These results indicate that IT CBs should pay attention to the perceptions of the announced targets when implementing policy actions.     

Application fee manipulations in matching markets

In some well-known hospital–intern type of matching markets, hospitals impose mandatory application fees on internship applicants to consider their applications. Motivated by this real-life phenomenon, we study the application fee overreporting incentives of hospitals in centralized matching markets by assuming that interns have finite budgets to spend on such fees. Our main theorem shows that no stable mechanism is immune to application fee manipulations. Interestingly, under any stable rule, hospitals might not only obtain better matchings but also increase their application fee revenues through overreporting their application fees. In the restricted domains in which either side has homogeneous preferences or each hospital has only one available position, every stable mechanism turns out to be immune to application fee overreportings.     

‘Work always wins’: client colonisation,time management and the anxieties of connected freelancers

This article focuses on ‘connected freelancers’ as a category of teleworkers and examines the pressures placed on their work‐home balance by their relationship with clients. Based on diaries, questionnaires and interviews, it reveals that, while connected freelancers do not generally work excessively long hours, they do work irregular hours. This is because ‘work always wins’ in a conflict with domestic commitments, a phenomenon the article dubs ‘client colonisation’. Client colonisation was a source of anxiety for respondents, who found themselves continually thinking about the current and future projects on which their livelihoods depend. The article illustrates the porous ways in which they interleave work with non‐work activities and contrasts traditional ‘monochronic’ forms of work with emerging ‘polychronic’ forms, which erode work‐home boundaries. It concludes that a new model of work—one in which individual patterns of control over work‐home balance are paramount—already coexists alongside traditional models but is still insufficiently socially understood and accepted.     

Continuity and Change in Public Policy: Redistribution,Exclusion and State Rescaling in Turkey

This article discusses potential reasons for the continuities in the broader policy agendas of capitalist states, despite radical shifts in economic policies, by employing the state‐rescaling framework. Its main thrust is that, even though centrally designed policy programs mainly aim to give direction to the dynamics of the market economy, the institutional (re)structuring needed to operationalize such policy measures has been shaped around a politics of redistribution, a product both of the exclusionary results of past policies and the negative results of the newly introduced policy programs. This dialectical tension turns state rescaling into a political exercise in solving, and reproducing, ‘systemic crises’. The article examines the history of state rescaling in Turkey to develop these arguments.