Equilibrium price formation in markets with differentially informed agents

We consider a pure exchange economy with a finite set of types of agents which have incomplete and asymmetric information on the states of nature. Our aim was to describe the equilibrium price formation and analyze how the lack of information may affect the allocation of resources. To do so, we adapt to an asymmetric information scenario a variant of the Shapley–Shubik game introduced by Dubey and Geanakoplos (J Math Econ 39:391–400, 2003 ).     

DOES SIZE MATTER? THE INFLUENCE OF FIRM SIZE ON WORKING CONDITIONS,JOB SATISFACTION AND QUIT INTENTIONS

Using a detailed survey on Spanish workers, this paper investigates the relationship between firm size and working conditions, the extent to which firm size differences in workers' job satisfaction can be accounted for by differences in their work environment and the impact of firm size on workers' quit intentions. The results indicate that: (1) employees in larger firms face a worse work environment; (2) working in large firms significantly reduces job satisfaction when no controls for working conditions are included, but taking them into account makes differentials across size categories statistically insignificant; and (3) no systematic differences exist in intentions to quit across firm size categories, irrespective of conditioning on wages.     

A Note on Clean Technology Adoption and its Influence on Tradeable Emission Permits Prices

In this paper, we give an example in which the price of tradable emission permits increases despite firms’ adoption of less polluting technology, a result that is in contrast with Montero (J Environ Econ 44:23–44, 2002) and Parry (J Regul Econ 14:229–254, 1998), among others. If two Cournot players switch to a cleaner technology, the price for permits may increase due to an increase in the net demand for permits and a decrease in the net supply of permits after the clean technology is adopted. This is only the case when output demand is quite elastic.     

Impact of Market Orientation and ICT on the Performance of Rural Smaller Service Enterprises*

Market orientation (MO) is considered as a competitive strategy for the smaller service enterprises based in rural locations. A model is proposed and validated for the rural tourism sector that encompasses the effects of MO and of the use of information and communications technology (ICT) on business activity, taking into account the business's financial results, improvements to the rural location, and the more personal, intangible impact on the local entrepreneur. ICT is found to have a positive impact on MO and outcomes, whereas, similarly, the adoption of MO is found to have a positive effect on outcomes.     

The Impact of Relational Capital on the Success of New Business Start‐Ups

This study seeks to highlight the key role played by relational capital in new business start‐ups. Following a review of previous research examining the success factors of new ventures and the role played by intellectual capital, our study sets out to achieve this objective by analyzing the impact of a set of intangible relational assets on the initial success of new business start‐ups. Based on a study of 130 firms, we analyzed six hypotheses regarding the possible positive relationship between the relational capital of a start‐up company and its success in its first few years of business.     

Beyond Contracts: Love in Firms

The traditional theories of the firm leave no room for love in business organizations, perhaps because it is thought that love is only an emotion or feeling, not a virtue, or because economic efficiency and profit making are considered to be incompatible with the practice of charity or love. In this article, we show based on an approach to the human action within the organization, that love can and must be lived in firms for firms to operate efficiently, be attractive to those who take part in them, and act consistently in the long run.     

Research into Quality Management and Social Responsibility

This article presents a systematic literature review on quality management and social responsibility (focusing on ethical and social issues). It uses the literature review to identify the parallels between quality management and social responsibility, the extent to which qualitative, quantitative and mixed methods are used, the countries that have contributed most to this area, and how the most common quality management practices facilitate social responsibility. The literature review covers articles about quality management and social responsibility (focusing on ethical and social categories) based on a computer search in three databases, namely ABI Inform, Emerald and Science Direct, and includes articles dealing with the subject that were found in the lists of references of the articles found in the primary search, as well as a search in six top management journals. The results show (1) the journals most likely to publish this type of article; (2) the range of qualitative, quantitative and mixed methods used; (3) the most productive countries in this field; (4) the parallels between quality management and social responsibility; and (5) how the most common quality management practices facilitate ethical behaviour and social aspects.     

区域间的不对称与制衡行为——以欧盟与东盟关系为例

在现有国际体系中,不对称性是国际关系的主要特征之一,它与单位行为体的制衡行为直接相关联。随着全球化和区域主义的发展,不对称性已从国家层面扩展到地区层面,其原有内涵和制衡逻辑也发生了转移。以地区性作为比较区域间不对称的参考点,作者探讨了地区层面的制衡行为,分析了不对称性、地区性与制衡行为之间的关系,认为在不对称的国际关系中,弱势国家出于维护现状或提高讨价还价能力的需要,它们倾向于选择地区层次的制衡行为。由于地区层次的制衡行为伴随着一定的制度化风险,因此地区层次制衡行为的发生需有一定的条件。通过选取欧盟与东盟关系作为考察对象,作者认为,在不对称的国际关系中,地区性能够反映区域间的不对称关系,也代表了地区层次的制衡能力;地区层次的制衡行为没有特定目标,但主要以平衡大国或发达国家的地区性国家集团为主;当弱势国家的内部制衡无法在短期内得到质的提升时,它们会更倾向选择通过外部制衡,即利用区域间关系来平衡不对称关系。尤其在无政府状态下的单极体系中,当国际结构对霸权国的约束力被严重削弱时,地区层次的制衡作用便显得更加突出。     

Key service innovation drivers in the tourism sector: empirical evidence and managerial implications

This study highlights the importance of market orientation and the use of information and communication technologies (ICT) as determinants of service innovation activity for companies in the tourism sector. In doing so, the study provides a means to classify companies as innovative or not. Using a sample of 100 Spanish firms from different branches of the tourism sector, we confirm and extend prior research. In particular, market orientation??especially a customer orientation??is critical for developing new services that lead to competitive advantages. In addition, ICT have a dual, direct, and indirect influence on service innovation.