Spanish and American Business Professionals' Ethical Evaluations in Global Situations

More ethics research needs to explore the global differences in ethical evaluations. This study explored the relationships among nationality, teleological evaluations, ethical judgments, and ethical intentions using a sample of 222 American and Spanish business professionals. The path analysis indicated that teleological evaluations were related to ethical judgments and that both ethical judgments and teleological evaluations were related to ethical intentions. Executive nationality was related to teleological evaluations and ethical intentions with American individuals having higher teleological assessments and intentions to act ethically than the Spanish individuals. These findings have implications for global companies, which are presented along with the study's limitations and future research suggestions.     

STRATEGIC ORIENTATION,CAPABILITIES, AND PERFORMANCE IN MANUFACTURER — 3PL RELATIONSHIPS

This study examines how two dimensions of strategic orientation (customer and competitor orientation) influence logistics and market performance. Two capabilities, operational flexibility and collaboration, are studied. Data were collected from manufacturers working with third party logistics providers. The findings suggest that customer and competitor orientations have different influences upon performance when leveraged through the capabilities. Competitor orientation, while having a detrimental direct effect on logistics performance, appears to be the better strategic approach, when supported with operational flexibility since it results in enhanced logistics (efficiency) and market (effectiveness) performance. Customer orientation, on the other hand, greatly improves logistics performance, i.e., internal efficiency.     

Minimum and preferred entry qualifications and training provision for North Australian workers

This paper reports on the outcomes of a replication study of a survey of British employers that requested information on the qualifications sought when recruiting employees and on subsequent training and development. While the British survey was interested in the uptake and use of the British National Vocational Qualifications, the study reported in this article is primarily focused on the uptake and use of the Australian Qualifications Framework qualifications by North Australian employers. This study was prompted by the skills shortages and recruitment difficulties being experienced by organizations throughout rural and regional Australia. Previous studies have found that vocational qualifications were not valued by UK employers and few employers were encouraging employees to undertake vocational awards. If this is also the case in Australia, it may in part explain problems in recruiting skilled workers. This research clearly demonstrates that employees in regional and rural Australia are seeking to improve their knowledge and skills through vocational training and higher education qualifications. Also, employers are providing access to training and are supporting managerial and professional employees to gain higher educational qualifications. When recruiting all types of worker other than unskilled labourers, the majority of organizations prefer to recruit workers with qualifications. In rural and regional centres, however, a more pragmatic stance of recruiting unqualified employees in some areas is observed. Clearly, employers will attempt to minimize training costs by recruiting skilled employees, but in the end they will have to provide access to training and education to ensure that they have a skilled workforce that can deliver essential services and products.     

The impact of fairness on bargainin

A number of bargaining experiments have raised the of what is fair or just may be sufficiently powerful to generate bel and systematically from the predictions of standard bargaining experiment designed to test whether the relative impact of different certain changes in the bargaining environment.     

A rational foundation for wishful exchange rate forecasts

Professor Takatoshi Ito in a recent American Economic Review paper documents that exporters and importers have biased exchange rate forecasts and the biases are in opposite directions. At first glance, it is difficult to provide a rational foundation for such behavior. Professor Ito hypothesizes that these forecasts are the result of wishful expectations. However, if forecasts are stochastic, then minimization of a quadratic loss function results in a rational hedge applied to either $/¥ or ¥/$. The different perspectives of importers and exporters determines which form is hedged and determines the direction of the bias.     

Updating the Determinants of Firm Performance: Estimation using the 1998 UK Workplace Employee Relations Survey

We examine the determinants of establishment performance in the UK, using cross‐sectional data from the 1998 Workplace Employee Relations Survey to replicate research by Fernie and Metcalf (1995) who used data from the 1990 Workplace Employee Relations Survey; specifically, we test whether employee representation, contingent pay and efforts to boost employee participation affect a set of economic and industrial relations outcome indicators in the manner they suggest. We also re‐estimate the influential WERS90‐based study of Machin and Stewart (1996) on the links between union status and financial performance. In both cases we report very different results.     

A Comparison of Cost of Equity Estimates of Local and Global CAPMs

Cost of equity estimates are compared for three pricing models: the traditional local CAPM, the single (market) factor global CAPM, and the two‐factor global CAPM, with both market and currency index factors. For 2989 US stocks, the average difference in the cost of equity estimates is about 48 basis points between the local CAPM and the single‐factor global CAPM, and is about 61 basis points between the two global models. For 70 developed‐market ADRs, the corresponding average differences are 76 and 47 basis points, respectively. For 48 emerging‐market ADRs, the corresponding average differences are 57 and 70 basis points.