The Exercise of Moral Imagination in Stigmatized Work Groups

This study introduces the concept of moral imagination in a work context to provide an ethical approach to the controversial relationships between dirty work and dirty workers. Moral imagination is assessed as an essential faculty to overcome the stigma associated with dirty work and facilitate the daily work lives of workers. The exercise of moral imagination helps dirty workers to face the moral conflicts inherent in their tasks and to build a personal stance toward their occupation. Finally, we argue that organizations with dirty work groups should actively adopt measures to encourage their employees’ exercise of moral imagination. This study investigates how organizations might create conditions that inspire moral imagination, particularly with regard to the importance of organizational culture as a means to enhance workers’ moral sensitivity. Furthermore, this investigation analyzes different company practices that may derive from a culture committed to moral imagination.     

Ruin probabilities and optimal capital allocation for heterogeneous life annuity portfolios

A large part of the actuarial literature is devoted to the derivation of ruin probabilities in various non-life insurance risk models. On the contrary, very few papers deal with ruin probabilities for life insurance portfolios. The difficulties arise from the dependence and non-stationarity of the annual payments made by the insurance company. This paper shows that the ruin probability in case of life annuity portfolios can be computed from algorithms derived by De Pril (1989) and Dhaene & Vandebroek (1995). Approximations for ruin probabilities are discussed. The present article complements the works of Frostig et al. (2003) who considered whole life, endowment, and temporary assurances, and of Denuit & Frostig (2008) who considered homogeneous life annuities portfolios. Here, heterogeneous portfolios (with respect to age and/or face amounts) are studied. Particular attention is paid to the capital allocation problem. The total amount of reserve is shared among the risk classes in order to minimize the ruin probability. It is then fair to charge a higher margin to the risk classes requiring more capital.     

Regulatory regimes in the electric power industry: Implications for capacity

We construct a model of the electric power industry which consists of two utilities faced with uncertain demand and a variety of regulatory regimes. Two technologies are considered, base-load and peaking, and the transfer of bulk electricity among utilities is permitted. The purpose of the paper is not to determine optimal regulatory regimes but to provide a framework for analyzing existing and contemplated regulatory initiatives. The conclusions are that long run survival mandates an authorized rate of return above the cost of capital and that excess investment will result. Furthermore, it is highly unlikely that current regulatory instruments such as Used and Useful, distribution of profits from bulk sales, and pricing of wholesale electricity can lead to a socially optimal capital stock.     

University spillovers and new business location in high-technology sectors: Spanish evidence

This paper examines the relationship between knowledge spillovers from universities and new business location in high-technology sectors. We focus on the contribution to new business formation through spillovers stemming from three main university outputs: knowledge-based graduates, research activities, and technological knowledge. We construct a new dataset with information on 604 companies and 63 universities in Spain and group the data across 36 geographical areas from 2001 to 2004 (144 observations). After controlling for several traditional cost factors and agglomeration characteristics, we find that university spillovers are relevant in explaining the location of new businesses in high-technology sectors in Spain. Further, our analysis draws attention to the relevance of graduates as the main source of spillovers, while research activities and university technology do not have significant effects.     

Stereotypical Notions of the Entrepreneur: An Analysis from a Perspective of Gender

The principal objective of this paper is an analysis of the stereotypical figure of the entrepreneur in the Spanish context, from a perspective of gender. We provide evidence that the characteristics largely associated with an entrepreneurial individual are stereotypically male or androgynous, with a notable absence of female typologies. Our findings suggest that this relationship has an influence on the continued predominance of male entrepreneurial activity. This study contributes to the growing empirical literature on female entrepreneurship from an understudied perspective; gender stereotyping, demonstrating that socially constructed gender stereotyping persists in contemporary Spanish culture.     

Justifications and Questions in Detecting Deception

Truth-tellers and deceivers use justifications to bolster their credibility, but given their different motivations, truth-tellers and deceivers may use justifications differently. Participants were assigned the role of allocator or recipient in an ultimatum game. Allocators received money based on their performance on a task and made an offer. Recipients did not have information about allocator’s task performance or amount the allocator received, and therefore, allocators could deceive. Liars provided more plausible details to support their offer by stating the structure of their task; this strategy backfired and led to more detection of lies. Truth-tellers were more likely to disclose advantageous information about their endowment of money in their justifications, and this reduced suspicion in their offers. Deceivers used more wrap-up questions to end the interaction; this did not help reduce partner suspicion. Asking questions in general did not improve detection accuracy.     

Corporations as Political Actors – A Report on the First Swiss Master Class in Corporate Social Responsibility

This paper presents a report on the first Swiss Master Class in Corporate Social Responsibility, which was held between the 8th and 9th December 2006 at HEC Lausanne in Switzerland. The first section of the report introduces the topic of the master class – ?Corporations as Political Actors – Facing the Postnational Challenge’ – as well as the concept of the master class. The second section gives an overview of papers written by nine young scholars that were selected to present their research. The brief summary of each paper also includes a summary of comments from the masters, practitioners, and NGO representatives at the event. The third section brings in the perspectives of one master and one NGO representative on the discussed issues. The final section offers a brief wrap-up of the discussed topics and outlines ways to structure future conceptual and empirical research.     

Economic analysis of different options in integrated pest and soil fertility management in maize systems of Western Kenya

The major biotic constraints to the production of maize, the major staple food in Western Kenya, are field pests such as Striga and stem borers, and low soil fertility. To counter these constraints, new cropping systems have been developed, including “push‐pull,” rotations with promiscuous soybean varieties and green manure crops, and imidazolinone resistant‐ (IR‐) maize. To analyze the technical and economic performance of these technologies, both with and without fertilizer, on‐farm researcher‐managed long‐term trials were implemented over six seasons in two sites each in Vihiga and Siaya districts of Western Kenya. The economic results, based on marginal analysis using a multioutput, multiperiod model, show that the new cropping systems with fodder intercropping (push‐pull) or soybean rotations were highly profitable. Push‐pull is more profitable but requires a relatively high initial investment cost. Green manure rotation, IR‐maize, and fertilizer all increased yields, but these investments were generally not justified by their increased revenue. We argue that research on rotation and cropping systems to tackle pest and soil fertility problems in Africa deserve more attention. This will require increased collaboration between agronomists and economists to set up long‐term experiments with new cropping systems to develop proper economic models.