Hidden patterns in exchange rate regime choice

There have been a number of empirical attempts to account for variation in exchange rate regime choice, but these attempts point in several directions and are not made sense of easily. One reason for the differences among studies is that standard statistical techniques are unable to identify the nonlinear and contingent relationships among the factors that influence the choice of exchange rate regime. This article utilizes a statistical technique that reveals complex nonlinear interactions among variables. The analysis reveals that the influence of past inflation acts to condition the influence of labor market rigidity and that political stability plays a key role for both high and low inflation countries.     

Matrix Representation of Conflict Resolution in Multiple-Decision-Maker Graph Models with Preference Uncertainty

Explicit matrix representations of solution concepts in a graph model of a multiple-decision-maker conflict with preference uncertainty are developed. In a graph model, the relative preferences of each DM over the available states are crucial in determining which states are stable according to any stability definition (solution concept). Unfortunately, it is often difficult to obtain accurate preference information in practical cases, so models that allow preference uncertainty can be very useful. In this work, stability definitions are extended to apply to graph models with this feature. The extension is easiest to implement using the matrix representation of a conflict model, which was developed to ease the coding of logically-defined stability definitions. Another benefit of matrix representation is that it facilitates modification and extension of the definitions.     

The Principled Legal Firm: Insights into the Professional Ideals and Ethical Values of Partners and Lawyers

Understanding how the professional ideals and values of partners influence lawyers’ everyday life is a relatively unexplored area given the inherent difficulties of gaining access to lawyers. This case study sheds light on the professional ideals and ethical values of partners and lawyers in a mid-tier Sydney law firm. Semi-structured interviews with partners and lawyers/legal clerks reveal how partners’ professional ideals and ethical values play a pivotal role in: (1) upholding positive normative evaluations of lawyer/firm propriety (moral legitimacy), (2) stressing the importance of a balanced working life (cognitive legitimacy) and (3) satisfying younger lawyers’ needs for personal support, autonomy and responsibility (pragmatic legitimacy). The principled actions of partners are portrayed as the cornerstone of shaping a moral community in legal practise.     

The Mandatory Corporate Social Responsibility in Indonesia: Problems and Implications

The adoption of the 2007 Indonesian Law No. 40 has created significant debate over the nature of Corporate Social Responsibility (CSR), namely, whether it is voluntary or mandatory. On the one hand, the adoption of such a law represents a legal recognition of the existence of CSR, and this clarification on the legal nature of a concept is necessary for understanding the obligation and responsibility. On the other hand, it has created much confusion surrounding its substance and procedures. This article tries to analyze the development and consequences of CSR under 2007 Indonesian Law No. 40, through the discussion of mandatory versus voluntary dichotomy. It is argued in this article that the mandatory nature of CSR is legitimate and therefore encouraged; however, in practice, this is problematic, as it not only requires a precise concept of interpretation of CSR and identification of the duty bearer and beneficiaries, but also an effective implementation mechanism and a means of verifying the impact.     

Warum Vertrauen wichtig ist — Der ökonomische Blickwinkel

Die Finanzkrise hat die ?ffentliche Aufmerksamkeit auf eine der Grundstützen des marktwirtschaftlichen Systems gerichtet: das Vertrauen der Marktteilnehmer untereinander. Friedrich L. Sell und Marcus Wiens erl?utern die verschiedenen Sph?ren des Vertrauens (Zweierbeziehung, Gruppe, gesamte Gesellschaft), welche Risiken mit dem Vertrauen verbunden sind und wie diese überwunden werden k?nnen.     

In-store Marketing as a Mode of Discipline

Although the idea of the self-governing consumer has been widely disputed, modern shopping spaces and supermarkets are considered as the key arenas of the sovereign and empowered consumer. Yet, purchasing patterns, which seem predictable over time, can be explained as resulting from consumer routines and habits. Inspired by Foucault’s general thesis that the emergence of individual freedom coincides with new techniques of discipline, this paper explores consumer routines as an outcome of governance structures embedded in modern retail marketing techniques. First, the term embodiment of consumer choice is introduced to describe how shopping in modern supermarkets hinges on various techniques of bodily discipline. Second, by relying on a study of in-store marketing in Norwegian retailing, these promotional activities are examined as techniques normalizing purchasing behaviour. We conclude by saying that power and discipline are underestimated as explanations to the formation of shopping behaviour and consumer routines.     

National Culture,Economic Development,Population Growth and Environmental Performance: The Mediating Role of Education

Literature on ethical behavior has paid little attention to the mechanism between macro- environmental variables and environmental performance. This study aims at constructing a model to examine the␣relationships which link cultural values, population growth, economic development, and environmental performance by incorporating the mediating role of education. The multiple linear regression model was employed to test the hypotheses on a 3-year-pooled sample of 51 countries. Empirical results conclude that national culture, economic development, and population growth would significantly influence environmental performance directly. In addition, through the mediating effect of education, population growth and national culture would significantly affect environmental performance indirectly. These findings provide theoretical and managerial implications for constructing the mechanism of cultural values and ethical behavior in general and environmental management in particular.