The productivity performance of Irish dairy farms 1984–2000: a multiple output distance function approach

This study measures productivity growth on Irish dairy farms over the period 1984–2000. A total factor productivity index is constructed for the dairy system and is decomposed into technical change, efficiency change, and changes in scale efficiency. This is achieved by estimating a stochastic output distance function model of the production technology in use on Irish dairy farms. Overall, productivity on Irish dairy farms grew by 1.2% per annum over the sample period.

China's Exchange Rate and International Adjustment in Wages, Prices and Interest Rates: Japan Deja Vu?

China's fixed its exchange rate at 8.28 yuan to the dollar from1994 to July 2005, and has only allowed for a small appreciationsince then. China's productivity growth has been very high relativeto most other countries: its trade surplus has been rising andit continues to accumulate large dollar exchange reserves. Manyobservers, including high officials in the US government, takethis as per se evidence that the renminbi is undervalued. Tobalance China's international competitiveness and reduce itstrade surplus, they want the renminbi to appreciate much more.This common presumption of renminbi undervaluation is wrong,and its appreciation need not reduce China's trade surplus butwould cause serious deflation in China. To show this, we considerinternational adjustment between China and the US from bothan asset market and a labor market perspective, and comparethis to Japan's unsuccessful appreciation of the yen from 1971to 1995. During a time of economic catch-up and rapid financialtransformation, fixing the exchange rate is the preferred wayof anchoring the domestic price level. (JEL codes: F15, F31,F33)     

Agricultural policy,migration, and malaria in the United States in the 1930s

The Agricultural Adjustment Act (AAA) was associated with a population shift in the United States in the 1930s. Evaluating the relationship between the AAA and the incidence of malaria can therefore offer important lessons regarding the broader consequences of demographic changes. Using a quasi-first difference model and a robust set of controls, we find a negative association between AAA expenditures and malaria death rates at the county level. Further, we find that the AAA was associated with increased out-migration of low-income groups from counties with high-risk malaria ecologies. These results suggest that the AAA-induced migration played an important role in the reduction of malaria.     

Outcomes and Benefits of a Managerial Global Mind‐set: An Exploratory Study with Senior Executives in North America and India

Globalization and its associated challenges are compelling managers in multinational corporations to develop appropriate skill sets. An emerging body of research in international management has suggested that meeting this challenge requires the cultivation and development of a managerial global mind‐set. There has been limited empirical work on the outcomes and benefits of a managerial global mind‐set and consequently this article attempts to fill that gap. Based on semistructured interviews with a total of 56 senior executives of multinational corporations in North America (United States and Canada) and India, this study identifies five outcomes of a global mind‐set with benefits for managers and their organizations. The findings have theoretical implications, which are discussed along with their practical applications for multinational corporations, their senior executives, and human resource professionals, with respect to identifying management development programs that assist in the cultivation and nurturing of a global mind‐set. © 2014 Wiley Periodicals, Inc.     

Pretty Vacant: Recruitment in Low-Wage Labour Markets

This paper is a study of the process by which employers in five relatively low-wage British firms fill vacancies. It studies the determinants of the number and quality of applicants, the way in which these applicants are selected for interviews and offered jobs. The main conclusions are that thenumber of applicants is relatively small, the monetary and non-monetaryaspects of jobs are important determinants of the number of applicants forjobs, but that firms do eventually fall virtually all vacancies. Non-employedjob applicants have more difficulty in getting a job interview than those whoare currently employed but, once interviewed, do not appear to face any further difficulties in getting employment.     

IS THE CAPITAL STRUCTURE LOGIC OF CORPORATE FINANCE APPLICABLE TO INSURERS? REVIEW AND ANALYSIS

Since the financial crisis of 2008, next to banks, insurers have received increasing attention from researchers and regulators because of their crucial role in the financial system. A key point for a stable insurer is its capital structure, i.e. the choice between equity, debt and provisions in financing its operations. Based on earlier work a quickly developing literature has directly applied capital structure theories (in particular trade-off and pecking order) from corporate finance to insurers’ financing choices. Corporate finance concepts used herein however, are developed for industrial firms. In this paper we provide an overview of the literature on the capital structure of insurers, but contribute by systematically clarifying how to account for the specificities of insurers when transferring the trade-off and pecking-order logic from an industrial to an insurer context. This way, we add several new insights on an insurer's choice between equity, financial debt and provisions. In particular, we are able to explain why, as compared to industrial firms, insurers use less financial debt, and why insurers focus so strongly on self-financing. Finally, we identify multiple avenues for future research.     

Linking Ethical Leadership with Firm Performance: A Multi-dimensional Perspective

Despite the importance of ethical leadership, the impacts of its different facets on firm-level performance are unclear. Drawing on the resource-based view of the firm and the group engagement model, we propose that ethical leadership consisting of leader humane orientation, leader responsibility and sustainability orientation and leader moderation orientation are beneficial to firm performance, and leader justice orientation plays moderating roles. We empirically tested this theoretical framework employing multi-source survey data collected from 264 Chinese firms. The findings reveal that both leader humane orientation and leader responsibility and sustainability orientation have positive influences on both firm financial and social performance, while leader moderation orientation only has positive influence on firm financial performance. In addition, leader justice orientation positively moderates the relationship between leader humane orientation and leader responsibility and sustainability orientation and financial performance as well as the relationship between leader moderation orientation and social performance. These findings provide theoretical and practical implications for understanding how different facets of ethical leadership jointly function to influence firm performance.     

Narrowing the scope of failure prediction using targeted fault load injection

As society becomes more dependent upon computer systems to perform increasingly critical tasks, ensuring that those systems do not fail becomes increasingly important. Many organizations depend heavily on desktop computers for day-to-day operations. Unfortunately, the software that runs on these computers is written by humans and, as such, is still subject to human error and consequent failure. A natural solution is to use statistical machine learning to predict failure. However, since failure is still a relatively rare event, obtaining labelled training data to train these models is not a trivial task. This work presents new simulated fault-inducing loads that extend the focus of traditional fault injection techniques to predict failure in the Microsoft enterprise authentication service and Apache web server. These new fault loads were successful in creating failure conditions that were identifiable using statistical learning methods, with fewer irrelevant faults being created.     

An analysis of the relationship between market orientation and business performance in the hotel industry

The purpose of this study was to conduct an investigation into the link between market orientation and business performance in the hotel industry. Data were generated from 63 hotels in Hong Kong. The findings indicated that market orientation is positively and significantly associated with the marketing performance and financial performance of a hotel. The implications of the findings are discussed and the limitations of the study as well as future research directions are addressed.     

《瓦格纳五讲》前言

1正如我很久之前说的那样,瓦格纳的歌剧是我生命的一部分。这是我母亲在音乐方面最大的爱好,我在屋子里听着古老的黑胶78转唱片,在唱片的电流中,听着来自西格弗里德1的森林细语,或者魁梧女人的骑马远行,抑或伊索尔德2死亡的交响乐。自1952年夏以来,我的父亲,作为图卢兹的市长,被邀请参加由威