Winning,then Losing,the Battle with Globalization: Vietnamese Petty Traders in Slovakia

This article addresses the remarkable growth of Vietnamese market trading in Central and Eastern Europe, notably Slovakia, in the early 1990s, and its subsequent decline. The literature on ethnic entrepreneurship and cross‐border petty trading provides partial insights into this phenomenon, but fails to explain the levels of concentration of the Vietnamese in market trading, or the rapid changes in this sector. We therefore conceptualize them as being at the nexus of shifting flows of capital, goods and people, and draw on the notion of transnational spaces. L’article aborde le commerce du Vietnam en Europe centrale et de l’Est, notamment en Slovaquie, lequel a connu un remarquable essor au début des années 1990 suivi d’un déclin. Les travaux sur l’esprit d’entreprise ethnique et le petit commerce transfrontalier n’offrent qu’un éclairage partiel de ce phénomène, sans expliquer les niveaux de concentration des Vietnamiens dans le commerce ni les rapides transformations de ce secteur. L’article les conceptualise donc comme le c?ur des flux changeants de capitaux, marchandises et populations en s’inspirant de la notion d’espaces transnationaux.     

WILLINGNESS TO PAY IN CHINA'S NEW COOPERATIVE MEDICAL SYSTEM

Household survey data from China is used to analyze the determinants of households' willingness to pay to participate in the New Cooperative Medical System (NCMS). Wealthier households, households with at least one member who has been treated as an inpatient, and households in counties where NCMS is already established are willing to pay more for the program. Households who carry other forms of insurance, however, have a lower willingness to pay for the NCMS. We also find that the participation fee could be increased substantially to increase the size of the risk pool while scarcely affecting participation rates. (JEL I1, O1, D1)     

Large‐Sample Evidence on Firms’ Year‐over‐Year MD&A Modifications

The Securities and Exchange Commission (SEC) has expressed concern about the informativeness of firms’ Management Discussion and Analysis (MD&A) disclosures. A firm's MD&A is potentially uninformative if it does not change appreciably from the previous year after significant economic changes at the firm. We introduce a measure for narrative disclosure—the degree to which the MD&A differs from the previous disclosure—and provide three findings on the usefulness of MD&A disclosure. First, firms with larger economic changes modify the MD&A more than those with smaller economic changes. Second, the magnitude of stock price responses to 10‐K filings is positively associated with the MD&A modification score, but analyst earnings forecast revisions are unassociated with the score, suggesting that investors—but not analysts—use MD&A information. Finally, MD&A modification scores have declined in the past decade even as MD&A disclosures have become longer; the price reaction to MD&A modification scores has also weakened, suggesting a decline in MD&A usefulness.     

Regions and time in the European fertility transition: problems in the Princeton Project’s statistical methodology1

Much empirical social‐science research, including work in economic and demographic history, has relied on the analysis of published information on administrative districts. One famous example of this type of research, the Princeton Project on the Decline of Fertility in Europe (EFP), was carried out at Princeton University’s Office of Population Research in the 1960s and 1970s. This project aimed to characterize the decline of fertility that took place in Europe during the nineteenth and early twentieth centuries. The project’s summary statements argued that social and economic forces played little role in bringing about the fertility transition. A central feature of the EFP argument is a series of statistical exercises which purport to show that changes in economic and social conditions exerted little influence on fertility. Two recent articles on Germany for this period have used similar data and methods to draw different conclusions. We show that the difference reflects problems in the Princeton project’s statistical methods. Those problems affect, potentially, virtually all quantitative research of this type. Our findings suggest cautious re‐thinking of conclusions based on this type of evidence, starting with the EFP.     

An Experimental Investigation of Explanations for Outcome Effects on Appraisals of Capital-Budgeting Decisions*

Abstract. Studies investigating effects of outcomes on judgments and decisions have been increasing within the business/accounting research literatures. No study, however, has addressed the presence or absence of such effects in terms of potential explanations and the conditions affecting their viability. Three such explanations are the foci of the present study: cognitive reconstruction, self-enhancing motive, and an escalation-of-commitment analogue. The viability of these explanations was investigated experimentally in an accounting context in which subjects evaluated a capital-budgeting committee's funding priority decisions with or without project outcome information (five-year operating results). Experimental results fully support the cognitive reconstruction explanation for outcome effects on decision appraisals but provide only limited support for the self-enhancing motive and escalation-of-commitment explanations. Results of additional experimentation are presented, further supporting logic inherent in the hypothesis derived from the cognitive reconstruction explanation. The relationship of the present study to prior research and implications for future research and practice are discussed. Résumé. Les études portant sur l'analyse de l'incidence de l'issue d'une situation sur les jugements posés et les décisions prises par la suite se sont multipliées dans la recherche en gestion et en comptabilité. Aucun chercheur ne s'est pourtant penché sur la présence ou l'absence d'une telle incidence en s'interrogeant sur son explication potentielle et sur les facteurs qui influent sur sa viabilité. La présente étude s'articule autour de trois de ces explications: la reconstruction cognitive, la promotion personnelle et un équivalent de l'escalade de l'engagement. La viabilité de ces explications a été soumise à une étude expérimentale dans un contexte comptable dans lequel les sujets évaluaient les décisions d'un comité chargé du choix des investissements dans le cadre de l'établissement des priorités en matière d'affectation des fonds, avec ou sans information sur l'issue des projets (résultats d'exploitation de cinq ans). Les résultats de l'expérience confirment sans équivoque l'explication de la reconstruction cognitive relativement à l'incidence de l'issue des projets sur les évaluations décisionnelles, mais ils n'appuient que de façon mitigée les explications de la promotion personnelle et de l'escalade des engagements. Les auteurs exposent les résultats d'autres expériences, qui viennent étayer la logique sous-jacente à l'hypothèse fondée sur l'explication de la reconstruction cognitive. Ils analysent enfin la relation entre la présente étude et les travaux de recherche antérieurs de même que ses conséquences éventuelles sur la recherche et la profession.