Regional suitability for agricultural intensification: a spatial analysis of the Southern Agricultural Growth Corridor of Tanzania

Global food production will need to increase by 70–110% to meet the growing demand by 2050. Production per capita remains at 1960 levels in Africa while the agriculture sector accounts for 65% of full-time employment and 61% of rural households in Sub-Saharan Africa depend on agriculture for their livelihoods. Globally there is new focus on increasing agricultural investments in Africa. There is a need, however, for understanding regional factors that influence the outcome of agricultural intensification beyond the landscape scale and below the global scale. This paper provides a framework for considering socioeconomic and environmental factors in evaluating suitability for agricultural intensification at the regional scale. The method employs a spatially explicit multi-criteria evaluation based on freely available data that can be applied in any geography. The focus is on the Southern Agricultural Growth Corridor of Tanzania which has an area greater than 28 million hectares. These results indicate that the area considered most suitable for agricultural investment is different when considering multiple criteria compared to considering only potential yield. This approach is important for government planners, funding partners, and development agencies who seek sustainable agricultural intensification in Africa and elsewhere.     

The strategic use of corporate cash holdings in collective bargaining with labor unions

We provide evidence that firms in more unionized industries strategically hold less cash to gain bargaining advantages over labor unions and shelter corporate income from their demands. Specifically, we show that corporate cash holdings are negatively related with unionization. We also find that this relation is stronger for firms that are likely to place a higher value on gaining a bargaining advantage over unions and weaker for those firms in which lower cash holdings provide less credible evidence that a firm is unable to concede to union demands. Additionally, we show that for unionized firms increases in cash holdings raise the probability of a strike. Finally, we show that unionization decreases the market value of a dollar of cash holdings. Overall, our findings indicate that firms trade-off the benefits of corporate cash holdings with the costs resulting from a weaker bargaining position with labor.     

The Impact of Climate Change on Agriculture in the Southwestern United States: The Ricardian Approach Revisited

This paper estimates a Ricardian model of farmland value across the counties of the semiarid Southwestern United States. Compared to previous contributions, we focus on one climate zone and include the presence of extreme weather events and of farm subsidies in our analysis. We also control for heterogeneity and for various types of spillover effects. Once calibrated, the model is used to project changes due to future climate conditions. We find that the probability of a decrease is great in highland counties while an increase or decrease is equally probable in lowland counties where climate impacts farmland value less.     

Predicting Consumer Behavior and Media Preferences: The Comparative Validity of Personality Traits and Demographic Variables

It is common practice for organizations selling a product to divide potential consumers into segments to allow them to target those most likely to buy their products. Two broad approaches to market segmentation can be delineated. The most common approach relies on segmenting by demographic variables (e.g., age, gender). The second approach (known as “psychographics”) identifies market divisions in terms of psychological variables such as values, attitudes, and personality traits. There has been little research comparing the efficacy of the two approaches. Based on analyses of over 45,000 participants, the present research empirically compares the effectiveness of the two approaches among segmentation variables ranging from cell phones and lottery tickets to newspapers and television shows. Overall, both approaches explained surprisingly small amounts of variance in consumer behavior. Nonetheless, for the variance that was predictive, the relative contribution of demographics and psychographics varied dramatically across consumer behaviors; for some behaviors (e.g., electronic purchases), demographics had superior predictive potential but for others (e.g., television shows) psychographics were more useful. Therefore, an approach that integrates both methods is recommended.     

Modelling and forecasting short-term interest rate volatility: A semiparametric approach

This paper employs a semiparametric procedure to estimate the diffusion process of short-term interest rates. The Monte Carlo study shows that the semiparametric approach produces more accurate volatility estimates than models that accommodate asymmetry, level effect and serial dependence in the conditional variance. Moreover, the semiparametric approach yields robust volatility estimates even if the short rate drift function and the underlying innovation distribution are misspecified. Empirical investigation with the U.S. three-month Treasury bill rates suggests that the semiparametric procedure produces superior in-sample and out-of-sample forecast of short rate changes volatility compared with the widely used single-factor diffusion models. This forecast improvement has implications for pricing interest rate derivatives.     

Interpersonal Targets and Types of Workplace Aggression as a Function of Perpetrator Sex

We investigated the relationship between biological sex of the perpetrator and enactment of two forms of psychological workplace aggression (i.e., overt and covert) against two different interpersonal targets (i.e., supervisors and co-workers). Based on theories of power, we tested hypotheses using two samples (n ₁  = 155, 57% females; n ₂  = 152, 54% females). In comparison to women, results showed that men enacted greater levels of overt aggression against both supervisors and co-workers. Men and women reported enacting equal levels of covert aggression against both supervisors and co-workers. Taken together, these findings suggest that although biological sex of the perpetrator distinguishes levels of enacted overt aggression in the workplace, there are no differences between the sexes on levels of enacted covert aggression in the workplace.     

Technological races and stock market value: evidence from the pharmaceutical industry

We provide estimates of the abnormal stock market returns associated with pharmaceutical firms’ announcements of technological and regulatory successes in drug development. On the basis of these estimates, we find empirical support for two key features of technological race models. First, we observe that leaders in the innovation race record higher abnormal returns than do latecomers when they announce a success. Hence, firms should indeed be racing to complete the innovation process before their rivals. Second, pharmaceutical firms are adversely affected by the technological and regulatory success of their rivals, implying that interfirm spillovers in drug development are not sufficient to offset technological rivalry. Additional results are also produced regarding the impact of competition on R&D racing and the extent of therapeutic competition.     

Cause‐related events: fulfilling the objectives of social partnerships

• Cause‐related events are growing in frequency and popularity. These events enable corporates and not‐for‐profit organisations to collaborate for mutual benefit, within the strategic framework of a social partnership. However, while anecdotal evidence indicates that millions of dollars are invested in events, less is known about how the strategic objectives of social partnerships are achieved via cause‐related events. We present the findings of an ethnographic study of two social partnerships and contribute insights into how and why events help them achieve their strategic objectives. Case analysis data reveals that the fit between events and partnerships; the people, teams, and relationships; and collaboration of resources all contribute to generating competitive advantage and value. We discuss the managerial implications for those collaborating to organise a cause‐related event.

Copyright © 2016 John Wiley & Sons, Ltd.