Making sense of different perspectives on career transitions: A review and agenda for future research

Although scholars across numerous disciplines have studied specific types of career transitions, there has been no examination of the career transitions literature as a general phenomenon since Louis' seminal article was published four decades ago. Much has changed in the career landscape in the last forty years, including the number and types of career transitions being made by individuals. Using an inductive approach, the five major theoretical perspectives of career stage, decision-making, adjustment, relational, and identity emerged from our analysis of 242 publications. In this paper, we summarize research on each of these major perspectives on career transitions, recognizing emerging trends and research gaps. Based upon an analysis across these perspectives, we recommend seven major avenues for future research on career transitions.     

The unpredicted rise of motorcycles: A cost benefit analysis

This article examines the consequences, for Paris, of the increase in two-wheel motor vehicle (2WMV) traffic (measured in vehicle/km). Our study reveals that, between 2000 and 2007, the subway's (Métro) share in total inner-Paris travel increased by 13.6%, the RER's share by 10.3% and the SNCF's share by 20.5%. These three means of transport account for 58% of daily travel. On the other hand, the bus share has decreased by 16% and that of cars by 23.7%. Private motor vehicles represent 37.3% of total travel. Looking at road traffic, where public transport (buses) and private motor transport compete for the use of limited road space, private motor vehicles account for 91.5% and public transport 8.5% of total travel.The 2WMV share in Paris traffic increased by 36% between 2000 and 2007, with 2WMVs now accounting for a share twice as large as that of buses. A survey has shown that 100 million additional passenger kilometres were made by 2WMV in 2007 compared to 2000. 53% of this increase comes from people shifting to 2WMV from public transport and 26.5% from private cars. The remaining 20% is attributable to the increased use of 2WMVs by those already owning such vehicles in 2000.Is the growth in the share of 2WMV traffic in Paris beneficial to the community? This shift in the means of transport generates time savings of €293 million and increases owners' vehicle usage costs by €49 million. The cost of accidents is increased by €49 million and the negative consequences in terms of pollution are estimated at €22.6 million. The welfare impact of the government revenue change is negative and equal to €4.7 million. In total, the gain for the community is therefore around €168 million. Accident costs are the key issue. The fact that there are on average 21 2WMV fatalities in Paris (average 2006–2007) for a means of transport accounting for 16% of passenger/km made every day in Paris offers a striking contrast to the 6 (average 2006–2007) fatalities concerning cyclists which account for a mere 0.1% of trips. The massive shift to 2WMV has taken place without any public policy support. Public policy could easily further improve the 2WMV cost-benefit balance by taking measures that would decrease the number of accidents.     

(Not So) Easy Come, (Still) Easy Go? Footloose Multinationals Revisited

The central question of this paper is to test whether multinational firms (MNFs) are more likely to exit the local market than domestic firms. Using firm‐level data for Belgium, we estimate a random effects probit model taking into account the endogeneity of firm size, total factor productivity (TFP) and sunk costs in firm exit. Our results highlight two features of the ‘footloose’ nature of MNFs. First, controlling for firm and sector characteristics, the exit probability of MNFs is larger than that of domestic firms. Second, MNFs have a lower sensitivity to TFP and size than do domestic firms. This means that an improvement in economic performance on the local market will not prevent a multinational from closing its local plant as much as it would for a domestic firm.     

Benefits and Costs of International Financial Integration: Theory and Facts

This paper provides a selective review of the recent analytical and empirical literature on the benefits and costs of international financial integration. It discusses the impact of financial openness and capital flows on consumption, investment and growth, as well as the impact of foreign bank entry on the domestic financial system. It argues that, for small open developing countries, the benefits of financial integration are mostly long term in nature, whereas risks can be significant in the short run. Careful preparation and management are therefore essential to ensure that short‐run costs do not lead to policy reversals. It also stresses that the empirical evidence on the impact of foreign direct investment on domestic capital formation and growth, as well as on the effects of foreign bank entry, should be viewed with caution. In particular, the possibility that foreign bank penetration may lead to adverse changes in the allocation of credit cannot be dismissed on the basis of the existing evidence.