Has the Program 3×1 for Migrants Contributed to Community Development in Mexico? Evidence from Panel Data of 2000 and 2005

This paper examines how collective remittances contribute to regional development by using the community‐level two‐year panel data for the states of Jalisco and Zacatecas in Mexico, which have received the higher amounts of the budget of the Program 3×1 for Migrants. The results from empirical analyses show that the communities that received this program became better‐off between 2000 and 2005, according to the marginalization level. Further analyses suggest that specifically investment in roads, water supply, and non‐agricultural productive projects by the 3×1 program improved community welfare. The regression results on access to the program show, however, that neither the marginalization level nor the migration level determined the access to the program. This suggests that the 3×1 program was not necessarily targeted at the communities with higher marginalization and migration levels.     

Theorizing self‐repairers' worldview–personhood to advance new thinking on extended product lifetimes

The ecological and societal problems caused by product obsolescence and consumerism in modern economies constitute a “wicked human‐made problem” of significant magnitude. Current (old) ways of thinking cannot address these problems. Accordingly, in this paper, we critically explore the novel idea of integrated personhood and worldviews to theorize research on self‐repairers and their repair behaviours to extend product lifetimes. We conducted a structured and systematic review of published work (n = 183) to identify the conceptual content of the field to inform our theorization. Our findings highlight three key issues. First, constricted theorization undermines understanding of self‐repairers and their product lifetime extension (and spillover) behaviours. Second, the underlying conceptual complexity is typically underestimated. Third, the dominance of voluntarist and deterministic studies impedes new directions in research. From our review, an integrated worldview–personhood framework emerges that can deepen understanding of avant‐garde self‐repairers’ engagement with product lifetimes.     

Measuring Credit Risk of Individual Corporate Bonds in US Energy Sector

In this paper, using the measures of the credit risk price spread (CRiPS) and the standardized credit risk price spread (S-CRiPS) proposed in Kariya’s (A CB (corporate bond) pricing model for deriving default probabilities and recovery rates. Eaton, IMS Collection Series: Festschrift for Professor Morris L., 2013) corporate bond model, we make a comprehensive empirical credit risk analysis on individual corporate bonds (CBs) in the US energy sector, where cross-sectional CB and government bond price data is used with bond attributes. Applying the principal component analysis method to the S-CRiPSs, we also categorize individual CBs into three different groups and study on their characteristics of S-CRiPS fluctuations of each group in association with bond attributes. Secondly, using the market credit rating scheme proposed by Kariya et al. (2014), we make credit-homogeneous groups of CBs and show that our rating scheme is empirically very timely and useful. Thirdly, we derive term structures of default probabilities for each homogeneous group, which reflect the investors’ views and perspectives on the future default probabilities or likelihoods implicitly implied by the CB prices for each credit-homogeneous group. Throughout this paper it is observed that our credit risk models and the associated measures for individual CBs work effectively and can timely provide the market credit information evaluated by investors.     

Determinants of Remittances: Recent Evidence Using Data on Internal Migrants in Vietnam*

The present paper examines the determinants of remittance behavior for Vietnam using data from the 2004 Vietnam Migration Survey on internal migrants. It considers how, among other things, the vulnerability of a migrant's life at the destination, their link to relatives back home, and the time spent at the destination affect remittances. The paper finds that migrants act as risk‐averse economic agents and send remittances back to the household of origin as part of an insurance exercise in the face of economic uncertainty. Remittances are also found to be driven by a migrant's labor market earnings level. The paper highlights the important role of remittances in providing an effective means of risk‐coping and mutual support within the family.     

Global Competitive Pressures,Labour Market and Employment Issues in the Japanese Service Sector

Global competition of products and services leads to rapid changes in the economy, industry and management. Judging from the industrial employment structure in Japan, the lower prices of foreign goods and services will drive the unemployment rate up in the long run. The Japanese economy urgently requires the growth of business and job opportunities, and therefore the role of employment protection legislation should be re-examined from the viewpoint of encouraging business activities. Analysis of the case study shows that managers in the growing service sector have positive attitudes towards employment growth and the expansion of business activities if the following measures are introduced: the deregulation of redundancy dismissals, the introduction of arbitrary work with performance pay, and legislative enforcement against age discrimination for hiring and firing.     

International human resource management in an era of political nationalism

In times of the “Brexit” and “America First” policies, several industrialized countries' governments are turning toward more national‐oriented migration policies. Simultaneously, societal aversion to immigration is growing. Both trends are sending negative signals to highly skilled employees and making immigrants feel that they are no longer welcome. Consequently, international careers are becoming uncertain, risky, and unpredictable. This new reality in industrialized knowledge‐based economies may affect firms' talent pool and the skill set available to a country. To shed light on the new environment of international human resource management, we interviewed Mary Yoko Brannen and David Collings, leading experts in the field, to explore their perspective on how the field is changing. The interviews reported here uncover fascinating insights, including the need to counteract the globalization fears in the West of the predominantly White working and lower‐middle class through education. Companies may also rethink their organizational boundaries and the notion of traditional employees by using their agility to counteract the political forces harming their talent pool strategy.     

An Axiomatic Foundation of the Multiplicative Human Development Index

The aggregation formula in the Human Development Index (HDI) was changed to a geometric mean in 2010. In this paper, we search for a theoretical justification for employing this new HDI formula. First, we find a maximal class of index functions, what we call quasi‐geometric means, that satisfy symmetry for the characteristics, normalization, and separability. Second, we show that power means are the only quasi‐geometric means satisfying homogeneity. Finally, the new HDI is the only power mean satisfying minimal lower boundedness, which is a local complementability axiom proposed by Herrero et al. (2010).