A transaction level study of the effects of central bank intervention on exchange rates

We study the effects of sterilised intervention operations executed on behalf of the Swiss National Bank (SNB) using tick-by-tick transactions data between 1986 and 1995. We extend the preliminary analysis of [Economic Journal 109 (1999) 662] by matching these data with indicative intra-day exchange rate quotes and news-wire reports of central bank activity. Using an event study approach we find that intervention has important short-run effects on exchange rate returns. In particular, among various results, we find that i) intervention has a stronger impact when the SNB moves with-the-market and when its activity is concerted with that of other central banks and ii) exchange rate returns move in the 15 min interval prior to interventions.     

Tourism dance performances authenticity and creativity

Despite shifts in scale and context, dance performance in tourism settings, unlike some other artistic expressions, remains “authentic” and creative. Possible explanations for this include the manner in which “authentic” and “creative” are defined, the unique properties of dance as expressive behavior, and the particular politico-economic situation of different settings. The data used for this study are cross-cultural, assessing Native American, Oceanic, Caribbean, and African studies of dance performance, primarily those collected during fieldwork in Haiti and Cuba. The analysis is interpretive, based on cultural framing and examination of dance behavior and its affect.     

TQM: Just what the ethicist ordered

Total quality management (TQM) has become a basic business practice in organizations throughout the world. Implementation of TQM in these organizations has been driven by the desire to increase profits in the highly competitive business world. Total quality management techniques are designed to improve performance.Concurrently, organizations are striving to eradicate the concept that the termbusiness ethics is an oxymoron. Corporate codes of conduct have been developed to indicate the outside boundaries of acceptable organizational behavior and companies are espousing and enforcing the ideals contained within these codes.It is our contention that these two business trends are intimately related. TQM encompasses concepts and practices that are in the best organizational interest for all stakeholders. Additionally, TQM promotes activities that encourage high moral behavior. To support this notion, consider the following six important concepts that provide a foundation for TQM:Empowerment of employees Throughput that is prompt and without defects Helpfulness of managers and employees in task accomplishment Integrity of products, services and people Change in process and behavior Stakeholder emphasis (stockholders, customers, and equity)Viewed in the above form, TQM is simply good ethics put into practice. Cecily Raiborn is a Professor of Accounting at Loyola University. Her teaching and research interests include managerial accounting, cost accounting, business ethics, and international business. She has published articles in the Journal of Business Ethics,the Labor Law Journal,the Journal of Corporate Accounting and Financeand Management Accounting.She is the author of two accounting books: Cost Accountingand Managerial Accounting.She is heavily involved in professional and student organizations. Dinah Payne is an Associate Professor of Management at the University of New Orleans. Her teaching and research interests include business ethics, the legal environment of business, international business and international management: She has published articles in the Journal of Business Ethics,the Labor Law Journal,the Journal of Managerial Issuesand Management Accounting.She is the Secretary/Treasurer of the Southern Academy of Legal Studies in Business.     

Corporate codes of conduct: A collective conscience and continuum

This paper discusses the vast continuum between the letter of the law (legality) and the spirit of the law (ethics or morality). Further, the authors review the fiduciary duties owed by the firm to its various publics. These aspects must be considered in developing a corporate code of ethics. The underlying qualitative characteristics of a code include clarity, comprehensiveness and enforceability. While ethics is indigenous to a society, every code of ethics will necessarily reflect the corporate culture from which that code stems and be responsive to the innumerable situations for which it was created. Several examples have been provided to illustrate the ease of applicability of these concepts.Cecily Raiborn, Ph.D., C.P.A. is an Associate Professor of Accounting at Loyola University in New Orleans, Louisiana. She is interested in integrating the study of ethics with all academic disciplines, and especially with accounting.Dinah Payne, J.D., M.B.A. is an Assistant Professor of Management at the University of New Orleans. She also is interested in the application of ethics to all fields of study, and particularly with law.     

Improving value transfer through socio‐economic adjustments in a multicountry choice experiment of water conservation alternatives

This study tests the transferability of the nonmarket values of water conservation for domestic and environmental purposes across three south European countries and Australia applying a common choice experiment design. Different approaches are followed to test the transferability of the estimated values, aiming to minimise transfer errors for use in policy analysis, comparing both single‐ and multicountry transfers, with and without socio‐economic adjustments. Within Europe, significant differences are found between implicit prices for environmental water use, but not for domestic water use. In the Australian case study, alleviating restrictions on domestic water use has no significant value. Pooling the three European samples improves the transferability of the environmental flow values between Europe and Australia. Results show that a reduction in transfer error is achieved when controlling for unobserved and observed preference heterogeneity in the single‐ and multicountry transfers, providing additional support for the superiority of socio‐economic adjustment procedures in value transfer.     

How Purchase Type Influences Consumption-Related Posting Behavior on Social Media: The Moderating Role of Materialism

It is now common to see consumers post their own purchases on social media to communicate feelings and/or thoughts about the consumption items to their social media audience. The authors conducted two surveys with a student sample and an Amazon MTurk sample to investigate factors leading to such behavior. The results show that purchase type predicts the consumption-related posting behavior—experiential purchases are more likely to get posted than material purchases, and materialism serves as a moderator in the influence of purchase type on the posting behavior. Specifically, lower-materialism consumers are more likely to post experiential purchases on social media than material purchases, while higher-materialism consumers do not show such a pattern. This article pioneers in investigating consumption-related posting behavior and provides important implications to research on user-generated content, materialism, and purchase type.     

Stop tank abuse

Large volumes of fluids are processed or stored in tanks of all shapes and sizes and occupy a major portion of the landscape within our chemical plants and refineries. These tanks serve the industry very well but occasionally they suffer from improper design or abusive conditions and failures occur.     

The weighted cross-shareholding complex network: a copula approach to concentration and control in financial markets

Journal of Economic Interaction and Coordination - In this work, we focus on the cross-shareholding structure in financial markets. Specifically, we build ad hoc indices of concentration and...     

Rhetorical History as Institutional Work

Rhetorical history has emerged as a useful theoretical construct that bridges the long recognized gap between historical and organizational scholarship. Despite its growing popularity, the precise nature of rhetorical history as a construct, its scope conditions, and its utility in resolving critical issues in historical organizational analysis remains unclear. This paper addresses these issues. We define rhetorical history and contextualize the construct by elaborating its relationship to associated concepts like collective memory, rhetoric, and narrative. We ground the construct by reviewing literature that has applied rhetorical history in both theory and empirical research. Our inductive review identifies four recurring themes in which rhetorical history is used to construct perceptions of; (a) continuity and discontinuity, (b) similarity and difference, (c) winners and losers, and (d) morality and immorality. We conclude with a discussion of how rhetorical history is an essential mechanism of institutional work.     

‘They tell us after they've decided things’: A cross-country analysis of unions and digitalisation in retail

The role of trade unions in the social shaping of digital technologies is a vital question for research, public policy and social justice. This article draws on interviews with two unions in the grocery retail sector in the United Kingdom and Norway, and examines their involvement in technology decisions, and whether they can shape better outcomes for workers. By comparing a ‘neo-liberal’ economy and a ‘Nordic welfare state’, the article considers whether stronger institutional power and regulatory supports in Norway provide for greater influence in a sector regarded as challenging for unions. The findings indicate relatively few country differences and help shed light on the factors that enable and constrain unions’ role in digitalisation.