Factor adjustment implications of a free trade agreement between the United States and Thailand

Changes in intra-industry specialization indicators are used to assess factor adjustment pressures that may be experienced by U.S. and Thai industries from a proposed U.S.–Thailand Free Trade Agreement (FTA). Many industries experienced large increases in intra-industry trade over the 2000–2008 period. Ten U.S. industries are found to be candidates for factor adjustment pressures based on past experiences. These industries account for 38% of all U.S. imports from Thailand and 4% of imports from all trading partners. Results also show that nine Thai industries face possible adjustment pressures. These industries account for 9% of Thai imports from the United States. An FTA should result in a larger increase in U.S. exports to Thailand than U.S. imports from Thailand because Thai exporters face much lower tariffs in the U.S. market than do U.S. exporters in the Thai market.     

Community college supervisors and their subordinates: A quantitative investigation of personality temperament and leader‐member exchange

Community college leadership is facing a crisis fueled by leaders retiring and student enrollment that outpaces budget growth. The purpose of this study was to better understand the leadership dynamics of community college supervisors and direct subordinates by examining the relationship bgetween leader‐member exchange (LMX) and personality temperament. Data from the Supervisor Leader‐Member Exchange Multidimensional Model (SLMX‐MDM) survey was used to determine LMX total within four subscales: affect, loyalty, contribution, and professional respect. Participants' temperaments were determined by the Keirsey Temperament Sorter II (KTS‐II). Research questions focused on whether differences in LMX existed among groups of supervisor–subordinate dyads that were categorized according to temperament similarity: 1) identical temperament (e.g., both supervisor and subordinate are SJ), 2) one letter (e.g., SP and SJ), or 3) no letters in common (e.g., NF and SP). The 50 participating dyads were selected through proportionate stratified sampling. Results from one‐way ANOVAs showed significant differences among groups with respect to total LMX, contribution, and professional respect.     

Manpower planning models and techniques: A descriptive survey

The authors review the reasons for the increasing need for manpower planning. The chief characteristics of the four main types of manpower planning are described. First is the technique of using opinion or informed judgment, including the somewhat unique Delphi technique. The use of matrix models is described for both executive and management manpower planning. Third, the authors identify the characteristics of quantitative techniques, dividing them into three categories: statistical methods, operations research methods, and network techniques. Finally, three computer simulation models are described, including the Weber model. Ten subjective criteria for evaluating the selected techniques are proposed, and an evaluation of the selected techniques is presented in a matrix form.     

Measuring the Economic Effects of Competition Law Enforcement

Summary  Together with a move from a rules-based legal approach to a more economic approach in competition cases, the economic effects of competition law enforcement have received increasing attention. Measuring these effects is important for external accountability of the Competition Authority, for quality control of its decisions and for evaluating the effectiveness of the competition law. This raises many issues in measurement, including the choice of counterfactual, the choice of effects to be measured, and the proper use of available data. The papers in this Special Issue of De Economist discuss these and related issues, based on a broad range of experience in competition law enforcement.      

Export taxes and sectoral economic growth: evidence from cotton and yarn markets in Pakistan

Pakistan used an export tax on raw cotton from 1988-1995 in order to suppress the internal price of cotton to benefit the domestic yarn industry. An analysis was conducted to estimate the impact of this policy on both the cotton and yarn sectors. These effects were simulated using the results ol a structural econometric model of these sectors of Pakistan's economy Results indicated that the export tax had a negative impact on the growth rale in the cotton sector, while having little or no impact on the yarn sector. Thus, the export lax did not achieve its objective of increasing the growth rate of value-added (yarn) production above what would have occurred naturally.     

Sensation seeking and the prediction of attitudes and behaviours of wine tourists

Although socio-economic variables are commonly used for market segmentation and are widely applied in describing winery visitors, increasing awareness is evident in the literature that personality might also be useful for that purpose. The present study examined whether, compared with socio-economic variables (age, gender, education level, personal income, and household income), the personality variable sensation seeking adds to the ability to predict differences in various attitudes and behaviours of wine tourists. With the effects of the former controlled, sensation seeking was observed to be significantly related to spending on wine, and wine drinking, as well as to the frequency of visits to wineries and the number of activities engaged in at wineries, the use of the internet as a source of information about wineries, venturing off the beaten track during a visit to a wine region, and the strength of opportunity for learning, stimulation, or indulgence as incentives to visit a wine region. Sensation seeking was also observed to be significantly related to all but one of those variables when the effects of another variable which is receiving increasing attention as a means by which to characterize wine tourists, “involvement”, were controlled. The practical significance of the results for winery and wine region marketing and management is discussed, and several requirements for further research are identified.     

Private Information and the Exercise of Executive Stock Options

This paper finds strong evidence that executives use private information when exercising their stock options. The most informed executives tend to exercise early, do not exercise on the vest date, do not exercise to capture dividends, exercise a high percentage of their options, and exercise when the option is the least in‐the‐money. We also find that exercises around resignation and retirement are followed by significant negative abnormal returns. Furthermore, the operating performance of firms following exercises motivated by private information is significantly worse than that of firms in which the exercises are not motivated by private information.     

Not all Codes are Created Equal: The Software Engineering Code of Ethics, a Success Story

There has been a transition in the way software developers work. Mistakes in software have been treated as "normal" occurrences. "All software has bugs." However, software engineering is an emerging profession which as a profession has now said that a caviler approach to software errors is unacceptable. They have asserted a very strong ethical position in the Software Engineering Code of Ethics and Professional Practice, a position which mandates concern for all those affected by their work. The Code has several unique elements as a professional Code.