Stimulating Strategically Aligned Behaviour Among Employees

Strategically aligned behaviour (SAB), i.e. employee action that is consistent with the company's strategy, is of vital importance to companies. This study provides insights into the way managers could promote such behaviour among employees (who can be managers as well) by stimulating employee motivation, by informing employees, and by stimulating the development of their capabilities. The results of surveys conducted in three organizations suggest that, first, perceived efforts by management aimed at motivating and informing employees (both managers and non-managers), and at developing their capabilities, each are related to SAB. Second, among the perceived efforts to stimulate motivation among employees, providing a rationale for the strategy and an open communication climate have a stronger relationship with SAB than participation in decision making and supportiveness. Third, the perceptions of the different types of managerial effort are related to each other. For this reason, the efforts have direct as well as indirect relationships to SAB. Fourth, each of the perceived efforts seems to be complementary to the others, in the sense that the relationship of one type of effort to SAB is stronger when other types of effort are perceived to be higher.     

Difference in difference meets generalized least squares: Higher order properties of hypotheses tests

We investigate the estimation and inference in difference in difference econometric models used in the analysis of treatment effects. When the innovations in such models display serial correlation, commonly used ordinary least squares (OLS) procedures are inefficient and may lead to tests with incorrect size. Implementation of feasible generalized least squares (FGLS) procedures is often hindered by too few observations in the cross-section to allow for unrestricted estimation of the weight matrix without leading to tests with similar size distortions as conventional OLS based procedures. We analyze the small sample properties of FGLS based tests with a formal higher order Edgeworth expansion that allows us to construct a size corrected version of the test. We also address the question of optimal temporal aggregation as a method to reduce the dimension of the weight matrix. We apply our procedure to data on regulation of mobile telephone service prices. We find that a size corrected FGLS based test outperforms tests based on OLS.     

A socio‐economic assessment of cowpea diversity on the Ghanaian market: implications for breeding

Given the importance of cowpea [Vignaunguiculata(L)Walp] in fighting malnutrition and poverty, a socio‐economic assessment of cowpea diversity found on the Ghanaian market was conducted. The objective was to investigate emerging consumer preference for cowpea and make recommendations for the development of tailor‐made varieties. Forty‐seven cowpea accessions were collected from traders interviewed for morphological characterization to ascertain the degree of diversity. Data was subjected to Hierarchical Cluster Analysis using Genstat Discovery Edition 3 software and variations among the cowpea varieties based on the selected seed traits established. Cowpea varieties found on the markets were broadly categorized into foreign and local varieties and usually named after their sources. Foreign Cowpea varieties were very popular on the markets surveyed as reflected in the per cent distribution of respondents by cowpea varieties sold; Niger (52%), Burkina Faso (50%), Togo (46%), Lagos (36%) and Ghana (18–21%). At the trader level, the order of preference for cowpea characteristics was cleanliness (stone free and no dirt), colour (white seed colour), easy to cook, taste, size, less weevil damage, dryness and place of origin ranked in decreasing order of importance. At the consumer level, cleanliness that was also tied to the extent of weevil damage was ranked most important. This was followed by seed colour (preferable white), short cooking time, size and taste. From the sociological perspective, concerns are raised on the impact of past cowpea breeding activities giving the level of competitiveness and market performance of locally improved varieties observed. Recommendation is made for traders and consumers to be considered as relevant actors in all the stages of crop improvement and breeding activities. This is crucial for enhanced small‐holder farmer market access and strengthened food networks in rural economies.     

Evolution on the Shoulders of Giants: Entrepreneurship and Firm Survival in the German Laser Industry

This paper studies 40 years of evolution in the German laser industry, which developed in the context of strong foreign competition. Key characteristics found in the U.S. laser industry are also present in Germany. There is sustained entry into the industry, and neither a shakeout nor first-mover advantages of early entrants are observed. Similar to the U.S. industry, spin-offs from existing laser firms have been more long-lived than have been academic startups. An analysis of the spin-off process indicates the importance of specific capabilities acquired at the parent firm.      

Context Effects on Older Consumers’ Cognitive Age: The Role of Hedonic versus Utilitarian Goals

This paper deals with older consumers’ cognitive age (i.e., the age they feel), which is self‐assessed as systematically lower than their chronological age (i.e., their actual age). Such a tendency would lead older consumers to display attitudes and purchasing behaviors, which are not typical of people of their real age. Two studies show that cognitive age is not an immutable construct but varies according to its context of reference, so that the same individual may feel different ages under different circumstances. Results demonstrate that the declared cognitive age is affected by the physical environment, the social references, and the product categories that the consumer is using when self‐assessing it. Furthermore, the tendency of older consumers to feel younger is stronger when these consumers are pursuing in these contexts hedonic rather than utilitarian goals. These findings provide novel inputs for the development of appropriate ways to measure cognitive age and to deal with it when targeting senior consumers and positioning hedonic versus utilitarian goods.     

JOB SEARCH WITH BIDDER MEMORIES*

This article revisits the no‐recall assumption in job search models with take‐it‐or‐leave‐it offers. Workers who can recall previously encountered potential employers in order to engage them in Bertrand bidding have a distinct advantage over workers without such attachments. Firms account for this difference when hiring a worker. When a worker first meets a firm, the firm offers the worker a sufficient share of the match rents to avoid a bidding war in the future. The pair share the gains to trade. In this case, the Diamond paradox no longer holds.     

Die Finanzkrise — im Kern eine Einlagenkrise der Schattenbanken

Die Ursachen der Finanzkrise werden in der wissenschaftlichen Debatte sehr unterschiedlich beschrieben. Der Autor vertritt die Auffassung, dass die Finanzkrise im Wesentlichen aus einem fundamentalen Mangel an „sicheren“ Aktiva resultiert. Schutzmechanismen für institutionelle Investoren im Geldmarkt, die wie die traditionelle Einlagensicherung funktionieren, k?nnten einen wesentlichen Beitrag zur Aufl ?sung der Finanzkrise leisten.