Implications of core self-evaluations for a changing organizational context

There is a need for individuals who have the confidence and assertiveness to adapt to and create positive change in contemporary organizations. The concept of core self-evaluations provides one way to conceptualize this requisite positive self-construal. This article begins by covering the concept of core self-evaluations, highlighting what has been learned about the relationship between core self-evaluations and attitudes, motivation, performance, and career progress. After this review, implications of the core self-evaluation construct for challenges in contemporary organizations are reviewed. Specifically, the potential importance of core self-evaluations for creative performance, transformational leadership, coping with organizational change, and managing “boundaryless” careers is discussed.     

Evidence of Distortionary Effects of Decoupled Payments in U.S. Indica Rice Production

Using a generalized method of moments technique for dynamic panels we estimate the acreage response of indica rice production in the U.S. to decoupled payments under the 1996 and 2002 farm bills. We find that these payments exert significant effects on the number of acres planted and, although the response is inelastic, a given change in decoupled payments may have a greater effect on acreage planted than an equal change in payments directly linked to output. Thus, even purely decoupled payments may be vulnerable to WTO sanction or de minimis limits. This research also suggests that the subsidy formula in the proposed 2014 farm bill will have a reduced distortionary effect compared to existing policies.     

Foreign Currency Derivatives versus Foreign Currency Debt and the Hedging Premium

This paper compares the effect on firm value of different foreign currency (FC) financial hedging strategies identified by type of exposure (short‐ or long‐term) and type of instrument (forwards, options, swaps and foreign currency debt). We find that hedging instruments depend on the type of exposure. Short‐term instruments such as FC forwards and/or options are used to hedge short‐term exposure generated from export activity while FC debt and FC swaps into foreign currency (but not into domestic currency) are used to hedge long‐term exposure arising from assets located in foreign locations. Our results relating to the value effects of foreign currency hedging indicate that foreign currency derivatives use increases firm value but there is no hedging premium associated with foreign currency debt hedging, except when combined with foreign currency derivatives. Taken individually, FC swaps generate more value than short‐term derivatives.     

Reappraising liabilities of foreignness within an integrated perspective of the costs and benefits of doing business abroad

Several international business scholars have elaborated upon Hymer's [Hymer, S. H. (1960). The international operations of national firms: A study of direct investment. Unpublished Ph.D. dissertation, MIT, Cambridge, MA] costs of doing business abroad through the liability of foreignness notion. While this research has made important contributions, there is need for more conceptual refinement and synthesis due to the vastly increased scale and scope of MNE operations in recent years. Consequently, this study attempts to more precisely delineate the liabilities of foreignness component of costs of doing business abroad from other costs/liabilities that arise from the increasing complexity of global business. Further, we synthesize both the costs and benefits of cross-border operations that accrue to the foreign subsidiary into an integrated conceptual framework, and advance 11 theoretical propositions on how those impact its competitive dynamics. We illustrate these notions through a longitudinal case study on the operations of Ford Motor Company in India over the past 80 years.     

The Determinants of Foreign Currency Hedging: Does Foreign Currency Debt Induce a Bias?

In this paper we use UK data to present strong empirical evidence that explains the mixed results in previous studies with respect to the effect of financial distress on the demand for corporate hedging. We build on recent studies that have identified a strong link between foreign currency (FC) debt use and leverage. Given this relationship, we show that using leverage variables as proxies for financial distress and the failure to distinguish between FC debt users and non‐users causes misleading inference. More specifically, when we partition our sample of FC hedgers into firms that use and do not use foreign debt, we show that leverage variables are significantly related to the FC hedging decision for firms that use FC debt either in isolation or in combination with FC derivatives but not for firms that only use FC derivatives. This suggests that FC debt users are influencing these results. However, we also find that other financial distress cost proxies with no obvious link to FC debt use are significant determinants in the corporate demand for FC hedging, including derivatives use.     

Interdependency factors influencing the World Wide Web as a channel of interactive marketing

The author identifies critical research issues of the interdependencies between the effectiveness of using the World Wide Web as a channel of interactive marketing and factors posed by the limitations of the media, both qualitative and technological. He proposes a model to explain the flow of a transaction in this hypermedia CME and isolates the critical paths in this flow and thier possible effects on the given transaction and isolates the effects to taking alternate routes across those critical paths for a marketer.     

Testing multiple equality and inequality hypothesis in economics

The general case of equality and inequality hypotheses is considered and an abridged table of critical values for the test is presented.     

Non‐linear effect of exchange rate volatility on exports: the role of financial sector development in emerging East Asian economies

This paper empirically examines the role of financial sector development in influencing the impact of exchange rate volatility on the exports of five emerging East Asian countries – China, Indonesia, Malaysia, the Philippines and Thailand – using a GMM‐IV estimation method. The results indicate that the effect of exchange rate volatility on exports is conditional on the level of financial sector development. The less financially developed an economy, the more its exports are adversely affected by exchange rate volatility. In addition, a stable exchange rate seems to be a necessary condition to achieve export promotion via a currency depreciation in these economies.