Weber,Marx, and work values: Evidence from transition economies

Are work values a cause (Weber) or consequence (Marx) of the economic environment? The collapse of the Soviet Union at the end of 1991 provides a unique opportunity to investigate this link. Using data collected from an employee survey conducted in over 340 workplaces in Armenia, Azerbaijan and Russia, we investigate generational differences in adherence to the Protestant work ethic (PWE). Our results indicate that Marx was ‘right’ about the link between work values and economic environment. That is, despite economic and cultural differences emerging during the transformation process, in all three countries, participating workers born after 1981 adhere more strongly to PWE than workers born before 1977. Moreover, the estimate magnitudes are very similar across these economically and culturally diverse countries. More generally, PWE adherence is stronger among participating workers with an internal locus of control and among supervisors. PWE adherence also tends to be stronger among participants with high relative earnings, as well as among those working in organizations that reward hard work with the chance to develop new skills or learn new things.     

Social Enterprises and the Performance Advantages of a Vincentian Marketing Orientation

This study focuses on the managerial issue of should social enterprises (SEs) become more marketing oriented. It adapts the Kohli et al. (J Mark Res 30:467–477, 1993) MARKOR marketing orientation scale to measure the adoption of marketing by SEs. The items capture Vincentian-based values to leverage business in service to the poor as a measure of a Vincentian marketing orientation (VMO). A VMO is an organisational wide value-driven philosophy of management that focuses a SE on meeting its objectives by adopting a more marketing orientated approach to serve the needy and poor in a just and sustainable manner. SEs that exhibit a VMO seek to understand and respond to both the needs of their beneficiaries and stakeholders. They are constantly generating, disseminating, and responding to environmental, beneficiary, and stakeholder information and develop their business propositions to more effectively and efficiently meet the needs of the poor, while guided by a philosophy of leveraging business for social good. This study of SEs in Australia found that a VMO is strongly and positively correlated with social, economic, and environmental performance. These findings suggest that SEs may benefit by leveraging marketing capabilities to better serve their beneficiaries and stakeholders.     

Reduce Content or Raise Price? The Impact of Persuasion Knowledge and Unit Price Increase Tactics on Retailer and Product Brand Attitudes

This research investigates consumer reactions to the practice of increasing unit prices of products by either reducing product content or increasing total prices. Using pricing tactic persuasion knowledge (PTPK) as a lens for understanding, I predict that total price increases garner less favorable attitudes toward retailers for relatively low PTPK consumers, while content reductions garner less favorable attitudes toward product brands for relatively high PTPK consumers. The results of an experiment with a nationally representative sample of U.S. consumers support these asymmetric predictions about PTPK consumer segments as well as expectations about the underlying psychological processes.     

Hospital-physician alignment: making the relationship work

CFOs can take four steps to help their organizations align successfully and cost-effectively with physicians: Understand the type of alignment required for the organization. Determine the right strategies for strengthening the organization's alignment gaps. Execute successfully. Monitor consistently and systematically.     

The Entry-Inducing Effects of Horizontal Mergers: An Exploratory Analysis

Antitrust law presumes that entry normally prevents or reverses anticompetitive effects from horizontal mergers. But when sunk costs associated with entry are at levels suggested by prevailing market structure, the opportunity for entry created by an anticompetitive merger plausibly is too small to induce entry, even absent Stiglerian ‘barriers to entry.’ This is illustrated for Cournot and Bertrand models. Significant entry also makes otherwise profitable Bertrand mergers unprofitable, assuming no efficiency gains. Consequently, the entry issue can be collapsed into the efficiency issue: if a presumably profitable merger does not generate significant efficiencies, it cannot be expected to induce entry.     

An Approach to Fair Valuation of Insurance Liabilities Using the Firm’s Cost of Capital

Abstract

There are two competing and seemingly different methodologies for calculating fair values—the direct and indirect methods. The direct approach has the advantage of providing a more reliable assessment of the risk of financial leverage. The indirect method can be structured to adjust for financial leverage, however, the methodology becomes excessively complex. The advantage of the indirect method is that it can be more easily related to exit prices. Intuitively, an exit price should reflect both the creditworthiness of the firm and the cost of capital of the firm. How are these two concepts related? This paper attempts to advance the fair valuation methodology by addressing these questions and presenting a methodology for deriving the firm or own credit risk assumption (to be used with the direct method) that is consistent with the cost of capital assumption used with the indirect method.     

What Do Employers Want？ Views of Chinese and Canadian Job Seekers

I. Introduction Countries differ significantly in culture, and cultural differences affect businesses operation (Hofstede, 1980). East–West cultural differences can lead to confusion and misunderstanding. In order to obtain a better understanding of these issues, many studies have been conducted in the past two decades. In general, Chinese have been found to be more oriented towards collectivism, uncertainty avoidance, and power distance than Canadians (Hofstede, 1980, 2001; Ralston et al,…     

Mergers in Sealed versus Oral Auctions

In this paper, we study mergers in oral or second-price auctions and compare them to mergers in sealed-bid or first-price auctions. We use an adaptation of the logit qualitative choice model to characterize the underlying bidder value distributions. In second-price auctions, this model has a closed-form relationship between winning bids (prices) and the probabilities of winning (shares), and this relationship gives rise to a Herfindahl-like formula that predicts merger effects. We compare mergers in second-price auctions to mergers in first-price auctions. Despite their differences, sealed-bid merger effects are predicted by the oral Herfindahl-like formula.The source of this curious similarity is not apparent.     

Using Giddens's theory of ‘structuration’ and Freirean philosophy to understand participation in the Alexandra Renewal Project

The main critique raised against participatory approaches to development is that they do not adequately address issues of politics and power. This paper contributes to the theory and practice of participation by introducing a framework drawn from Freirean philosophy and applying Giddens's theory of ‘structuration’ to that philosophy. Specifically, it focuses on the relocation of people from the banks of the Jukskei River as part of the Alexandra Renewal Project. It draws on the author's interviews with key local-level stakeholders, including government leaders, managers of the Alexandra Renewal Project, and those directly involved with facilitating the participation of intended beneficiaries in Alexandra. The study uses Giddens's theory to conclude that although participatory processes may be intended to (in Freire's words) domesticate, the domesticating or exclusionary nature of the intervention provides the basis upon which people liberate themselves.     

Management of collaboration in ectrem projects

This paper describes findings on the management of collaboration arising from an evaluation of the participation of the UK in the EUREKA programme. The principle issues addressed in the paper are the origins and motivations for collabration, the roles played by participants of different types and the significance of collaboration for project outcomes. The paper concludes that complementarity between partners in the key motivation for collabration. Complementarity may lie in different dimensions, matching different types of technical expertise or technical and market expertise. Vertical relationships, between users and suppliers, energed as being particularly important in EUREKA projects and frequently formed the initial basis for the collaborative application. The most important overall finding was that partnerships were genuinely interpendent, in part because of their foundation in complementarity. Successful collaborative structures were those which were sufficiently robust to accommodate the inevitable changes which arise in the turbulence of market conditions. This paper finishes with some conclusions concerning the appropriate role for government agencies in supporting participants in the management of collaboration.