‘The Ethics of Managerial Subjectivity’

This paper examines ethics in organizations in relation to the subjectivity of managers. Drawing on the work of Michel Foucault we seek to theorize ethics in terms of the meaning of being a manager who is an active ethical subject. Such a manager is so in relation to the organizational structures and norms that govern the conduct of ethics. Our approach locates ethics in the relation between individual morality and organizationally prescribed principles assumed to guide personal action. In this way we see ethics as a practice that is powerfully intertwined in an individual’s freedom to make choices about what to do and who to be, and the organizational context in which those choices are situated, framed and governed.     

Human resource development in remote island communities: an evaluation of tour‐guide training in Vanuatu

About 30% of visitors to Vanuatu visit the outer islands, where ecotourism has recently emerged as a small‐scale but significant activity. In the face of increasing competition from comparable Asia–Pacific destinations, there has been pressure on tourism operators and the Vanuatu Government to improve product quality through mechanisms such as the development of high‐quality tours. One way to enhance product quality is through the provision of appropriate professional training for tourism sector employees, including local tour guides. The paper outlines a tour‐guide training programme delivered on the outer islands, which received financial assistance from several foreign aid agencies. The programme is an instructive example of an attempt to implement a human resource strategy in a developing country arising from the recommendations of a national tourism masterplan that sought the active involvement of international funding agencies in the implementation phase. The paper evaluates the effectiveness of the training programme and outlines the challenges of programme delivery. Copyright © 2002 John Wiley & Sons, Ltd.     

Work-from-home and the risk of securities misconduct

In the wake of the global pandemic, a challenge for CEOs and boards is to set a stakeholder-acceptable organizational balance between remote and traditional office working. However, the risks of work-from-home are not yet fully understood. We describe competing theories that predict the effect on misconduct of a corporate shift to work-from-home. Using internal bank data on securities traders we exploit lockdown variation induced by emergency regulation of the Covid-19 pandemic. Our difference-in-differences analysis reveals that working from home lowers the likelihood of securities misconduct; ultimately those working from home exhibit fewer misconduct alerts. The economic significance of these changes is large. Our study makes an important step toward understanding the link between the balance of work locations and the risk that comes with this tradeoff.     

Dispersion in Dispersion: Measuring Establishment-Level Differences in Productivity

We describe new experimental productivity dispersion statistics, Dispersion Statistics on Productivity (DiSP), jointly produced by the Bureau of Labor Statistics (BLS) and the Census Bureau, that complement the official BLS industry-level productivity statistics. The BLS has a long history of producing industry-level productivity statistics, which represent the average establishment-level productivity within industries when appropriately weighted. These statistics cannot, however, tell us about the variation in productivity levels across establishments within those industries. Dispersion in productivity across businesses can provide information about the nature of competition and frictions within sectors and the sources of rising wage inequality across businesses. DiSP data show enormous differences in productivity across establishments within industries in the manufacturing sector. We find substantial variation in dispersion across industries, increasing dispersion from 1997 to 2016, and countercyclical total factor productivity dispersion. We hope DiSP will enable further research into understanding productivity differences across industries and establishments and over time.     

The impact of make-take fees on market efficiency

Review of Quantitative Finance and Accounting - Stock exchanges structure their trading fees to subsidize liquidity by offering “make” rebates for providing liquidity through limit...