Are all the parts there everywhere? Facet job satisfaction in the United States and the Philippines

The relationship of satisfaction with the “parts” or facets of the job to the “whole” of global job satisfaction and to intention to quit differed between samples of employees from financial firms in the United States of America (USA) and the Philippines. In contrast with research using commonly accepted sets of facet satisfactions developed in the USA, our results showed that additional extrinsic facets improved the explanation of outcomes in the Philippines, but not in the USA. In addition, extending past research, satisfaction with intrinsic job facets explained outcomes better in the USA than in the Philippines, and job dissatisfaction had a stronger relationship with turnover intentions in the USA than in the Philippines. Implications for the measurement of facet satisfactions, and for international management research and practice in the Philippines are discussed.     

Effects of decoupling on the mean and variability of output

The influence of inputs on output risk in the context of agriculturalproduction decisions taken by non-risk neutral agents has beenignored by previous research assessing the effects of decoupledincome support payments in a deterministic world or risk-neutralframework. We study the impacts of decoupled payments on inputuse and on output mean and variance. Our theoretical frameworkfor studying agricultural producers' responses to lump sum paymentsallows for both output and price uncertainty and economic agents'risk attitudes. Results show the importance, in a non-risk neutralscenario, of considering the influence that economic agentshave on the stochastic component of output through input use.Our empirical application uses Kansas farm-level data to illustratethe model.     

The persistence of founder influence: management,ownership, and performance effects at initial public offering

The purpose of this research is to apply a conceptual framework to questions of how, why, and when founders participate in the firms that they establish and to empirically test for the persistent influence of the founder on the firm after start‐up. A definition of the term ‘founder’ is proposed. Empirical tests compare firms with founder CEOs to those with nonfounder CEOs to determine whether governance and ownership relationships are distinguishable at initial public offering (IPO). In addition, investor reaction to founder‐led firms at IPO is tested. Results suggest that founder influence does persist in governance and ownership arrangements and that the stock market reaction to founder‐led firms is higher than for the comparison group, relative to accounting value. Copyright © 2003 John Wiley & Sons, Ltd.     

The Origins of the Pioneer Cotton Mills in Minas Gerais, Brazil, 1868-1879: A Reassessment

The Brazilian economy before the First World War has been generallycharacterized as an economy specializing in the production ofprimary goods for the international market—chiefly coffeefor export. The emergence of the first industrial factorieshas been seen as closely connected to the performance of theexport sector. The first cotton mills established in one provinceof Brazil, Minas Gerais, were not connected to the export sector,however. Minas Gerais was different in key respects from otherregions. This article describes the peculiarities of the Mineiroeconomy during the 1870s and investigates the establishmentof the first cotton mills there. It considers the location,size, and financing of the mills, as well as the structure ofownership and relations between partners. The results show thatthe emergence of the textile industry in Minas Gerais was independentfrom the performance of the foreign sector of the Brazilianeconomy.     

The Location of New Firms and the Life Cycle of Industries

Small Business Economics - Why does the location of new firms differ according to the characteristics of the industry? Is there a relation between a technologically dense base of firms and the...     

Corporate restructuring and incentive effects of leverage and taxes

Recent empirical studies have indicated that mergers are value enhancing, yet the theoretical aspects of merger gains have not been as well explored. This paper presents a theoretical analysis of mergers. In the model of the firm presented, outstanding risky debt gives rise to agency costs of underinvestment which are offset by the benefit of debt-related tax shields. The trade-off specifies the optimal leverage for a firm. Within this framework, we then consider whether and under what circumstances firm value could be enhanced by a merger. Under a fairly broad set of assumptions it is shown that most firm combinations ‘improve’ investment incentives and increase the value of debt-related tax shields. Mergers between optimally financed firms result in a merged firm that is also optimally financed, but such mergers are not synergistic. Nevertheless, firm value may be increased if mergers are undertaken in tandem with a refinancing program to bring the combined firms from suboptimal to optimal debt levels.     

Spanish trade unions 1986–1994; life after national agreements

The article reviews the situation of the Spanish trade unions since 1986 concluding that despite the fragmentation of corporatism and their organisational weakness, the unions have been able to retain a significant role in Spanish society but now face a major challenge.     

Consumer and provider expectations and experiences in evaluating professional service quality

Providers of professional services have recently awakened to consumer challenges, competition and the realities of marketing. Looking at the expectations and experiences of providers and consumers can provide special insight into the services evaluation process and perceived service quality. By evaluating both professionals’ and consumers’ perspectives, differences in perceptions can be identified and characterized. Inconsistencies in perceptions between two parties to an exchange may result in dissatisfaction, while positive consistencies in these assessments aid in building on-going relationships.