Affective,Normative and Continuance Commitment: Can the ‘Right Kind’ of Commitment be Managed?

This study examines the multi-dimensionality of organizational commitment: affective, normative and continuance (including the sub-components of low perceived alternatives and high personal sacrifice), and how these are differentially related to a set of antecedents and consequences (i.e. turnover intentions, absenteeism and acceptance of change). The results, based on a sample of 505 Australian male fire-fighters, indicate that organizational commitment is best represented by the four-factors of affective, normative, low perceived alternatives and high personal sacrifice. In addition, employees experience different personal, job-related and environmental causes of commitment depending on whether they feel they want to, ought to, or need to remain with the organization. Further, not all facets of commitment enhanced organizational effectiveness, with affective being the most beneficial (i.e. employees are less likely to leave, be absent and are more accepting of change) and low perceived alternatives being the most detrimental (i.e. less accepting of change). The implications of these findings for the management of desirable forms of commitment are discussed.     

LOGISTICS SKILLS AND COMPETENCIES FOR SUPPLY CHAIN MANAGEMENT

Despite the growing interest in supply chain management (SCM), there is little literature on the abilities practicing logisticians need to work in a SCM world. This paper studies these SCM abilities using two complementary methods: survey research and qualitative research interviews (case studies). The surveys yielded importance ratings of 45 SCM skill areas and a three‐factor skill model (interpersonal/managerial, quantitative/technological, and SCM core). Teamwork emerged as the skill area rated most important for SCM. Moreover, the case studies discovered additional critical skill areas for SCM such as gathering and sharing information. The interviews also enabled deeper understanding of skills within organizational contexts.     

Marx's Theory of Ground Rent: A Critical Assessment

This critical essay provides the reader with an up-to-date assessmentof Marx's relatively neglected theory of absolute ground rentby bringing together in a coherent manner his scattered observationsand arguments contained primarily in Capital, Vol. III and Theoriesof Surplus Value, Vol. II. It also reviews the extant secondaryliterature which suggests that within Marx's theory of rentis an embryonic theory of monopoly from which scholars can drawimportant insights into the history of economic thought andthe workings of mature capitalism. The paper is organized asfollows. After an introductory section, Section II providesthe reader with an overview of Marx's theory of differentialrent and compares it to that of Ricardo, particularly Marx'sdiscussion of differential rent II and whether nature is productiveof exchange value. Section III discusses Marx's theory of absoluterent in light of recent criticisms by prominent scholars andsuggests that what determines whether rent is paid on the marginalland is not technical backwardness or lower productivity oflabor per se, but a social relation, viz., the monopoly createdby the private ownership of land. The last section summarizesthe main arguments and suggests some avenues for future research.     

The Expectations Hypothesis of the Term Structure and Time-Varying Risk Premia: a Panel Data Approach

One implication of the expectations hypothesis is that the yield spread should forecast subsequent changes in the long yield. However, regression tests based on this specification strongly reject the expectations hypothesis. One explanation for this rejection is that these tests fail to allow for a time varying risk premium that is correlated with this yield spread, leading to a bias in the estimated regression coefficients. This paper uses panel data in order to testm the expectations hypothesis under the assumption that risk premia are time-varying but driven by a single factor. It is found that while the expectations hypothesis is still rejected, the bias in the estimated coefficient is verysubstantially reduced.