Particularism around the World

This article presents a new data set on electoral systems andoutlines its potential uses in research on the links betweenelectoral systems and economic outcomes. The data measure theextent to which politicians can advance their careers by appealingto narrow geographic constituencies on the one hand or partyconstituencies on the other.     

Accounting for the Influence of Overall Justice on Job Performance: Integrating Self‐Determination and Social Exchange Theories

Grounded in self‐determination and social exchange theories, this study examined two pathways through which overall justice influences job performance. Specifically, we hypothesized need satisfaction as a mediator of the influence of overall justice on intrinsic motivation and trust in organization which, in turn, relate to job performance. Results of structural equation modelling using Mplus revealed that need satisfaction mediated the overall justice–intrinsic motivation relationship as well as the overall justice–trust in organization relationship. We also found that intrinsic motivation mediated the respective influence of need satisfaction and trust in organization on job performance. We interpret our findings as suggesting an integration of need‐based theories of motivation into explanations of the performance implications of justice.     

Oil shocks and fiscal policy procyclicality in Angola: Assessing the role of asymmetries and institutions

The aim of this article is to examine procyclicality in Angola, assess whether it behaves asymmetrically over the oil cycle, and test the hypothesis that institutions and fiscal rules can moderate procyclicality. Received wisdom suggests that in resource‐rich economies, fiscal policy tends to be procyclical albeit improvements in the past decades due to institutional reforms. Similar evidence is available for oil‐rich economies; however, we know little about how procyclicality behaves over the oil cycle; that is, whether spending (and revenue) grows faster during oil‐market booms, than during downturns. Further, evidence on institutions and fiscal rules in oil‐exporting economies is still ambiguous. We bridge both gaps by examining fiscal policy procyclicality in Angola, one of the largest oil‐producers in Africa, and a country that has experienced an intense process of institutional reforms since 2002. Therefore, it is an ideal candidate for our study. We use data for the 2004–2014 period to estimate a threshold vector error correction model that extends vector autoregressive and vector correction methods used up to date. Our results indicate that revenue and spending are generally procyclical to oil shocks, that revenue is more procyclical during booms, and that institutional quality, net inflows, financial openness, and fiscal rules affect procyclicality.     

Accounting for variable stock options

A survey of nine accounting textbooks reveals that only three include the correct procedures for accounting for Variable Stock Option Plans as set forth in FASB Interpretation 28. Two books incorrectly teach the method used for changes in accounting estimates required by APB Opinion 20, and four do not address this unique exception to APB Opinion 20. This last group functionally allows the user to believe that the general rule outlined in APB Opinion 20 applies.     

From Fear to Courage: Indian Lesbians’ and Gays’ Quest for Inclusive Ethical Organizations

Journal of Business Ethics - This paper focusses on the experiences of Indian lesbians and gays (LGs) who are subjected to unethical acts of workplace bullying which get manifested through constant...     

Determinants of early internationalization of new firms: the case of Chile

The aim of this article is to analyze the factors related to the early internationalization of new firms in Chile. We grouped the internationalization driver factors into three categories: individual, organizational, and firm-environmental factors. Using a sample of 374 entrepreneurs from Global Entrepreneurship Monitor data and performing a logistic regression model, we found that owner-manager’ high educational levels, opportunity-oriented motivation, new technology use, and activities related to extractive sectors (e.g., farming, forestry, fishing, and mining) contribute to a higher likelihood of early firm internationalizing. The implications for theory and practice are discussed.     

The impact of trading halts on liquidity and price volatility: Evidence from the Australian Stock Exchange

This study examines market behaviour around trading halts associated with information releases on the Australian Stock Exchange, which operates an open electronic limit order book. Using the Lee, Ready and Seguin (1994) pseudo-halt methodology, we find trading halts increase both volume and price volatility. Trading halts also increase bid-ask spreads and reduce market depth at the best-quotes in the immediate post-halt period. The results of this study imply that trading halts impair rather than improve market quality in markets that operate open electronic limit order books.     

REAL EXCHANGE RATE CYCLES AROUND ELECTIONS

We develop the implications of devaluation cycles for real exchange rates in a two-sector small open economy with a cash-in-advance constraint. Policy-makers are office-motivated politicians. Voters have incomplete information on the competence and the opportunism of incumbents. Devaluation acts like a tax, and is politically costly because it can signal the government is incompetent. This provides incumbents an incentive to postpone devaluations, and can lead to an overvalued exchange rate before elections. We compare the implied cycle of appreciated/depreciated exchange rates with empirical evidence around elections from Latin America.