Airing Your Dirty Laundry: A Quick Marketable Pollution Permits Game for the Classroom

In this article, the authors describe a simple classroom game that demonstrates the advantage of tradable emissions permits in regulating environmental pollution. Students take on the role of polluters who must consider the costs of complying with a uniform reduction and a tradable permits program. The class is divided into high-cost polluters and low-cost polluters so students can observe the gains from trade as high-cost students purchase pollution rights from the low-cost students in the tradable permits scenario. A major advantage of the game is that it can be conducted within as little as 20 minutes and does not require that students have prior knowledge of economics or regulatory policies. This makes the game appropriate for economics and noneconomics courses alike.     

Panel data analysis of multi-factor capital asset pricing models

In this article, we propose MFCAPM panel models with fixed effects and test theories associated with risk exposures and anomalies postulated by Fama and French, and we assess their out-of-sample predictive performances. Based on the portfolios formed by French, we construct 10 panel models, each consisting of 10 portfolios grouped by size deciles, and another 10 panels by value deciles. In the presence of cross-section dependence, the MFCAPM panel model is estimated by the feasible generalized least squares (FGLS) method for the sample period 1963(1)-2018(9). The results show that the market, firm-size and value risk exposures are significant and robust across three-, five- and six-factor panel models. Significant time-fixed effects indicate that there are several portfolios resilient to dot.com bubble peak in 2000, while some others resilient to GFC in 2007. We estimate the models for the in-sample period 1963(1)–1999(12) and generate the out-of-sample portfolio returns for the period 2000(1)–2018(9). We find that portfolio returns forecasts generated by the six-factor panel model are superior to other MFCAPM panel models, mostly due to the momentum factor (investor behaviour) explaining large return variations and volatility exposures. The findings have implications for investors, security traders and portfolio risk managers.     

Settling the Score: The Role of Organizational Justice in the Relationship Between Psychological Contract Breach and Anticitizenship Behavior

This study investigated the role of psychological contract breach, procedural justice, and interactional justice in influencing employees' anticitizenship behaviors. It was posited that the association between contract breach and these negative employee outcomes would be moderated by perceptions of both procedural and interactional justice. In particular, employees' anticitizenship behaviors are hypothesized to be higher following a breach when both procedural and interactional justice are low. One hundred and sixty-five employees from a variety of organizational settings completed measures of contract breach, procedural justice, and interactional justice whereas their respective supervisors completed a measure of anticitizenship behavior. Results revealed a 3-way interaction between contract breach, procedural justice, and interactional justice on anticitizenship behavior. The nature of the interaction was further investigated through simple slope analyses. Consistent with the study's propositions, anticitizenship behavior was higher following a contract breach when both procedural and interactional justice were low. Theoretical and practical implications as well as directions for future research are discussed.     

Managing people across hospital networks in the UK: multiple employers and the shaping of HRM

Building on the insights from a growing number of studies on the HRM implications of inter-organisational relations, this article investigates the HR issues in two case studies of ‘best practice’, long-term collaborative working. It identifies three common challenges for HRM: (a) how to build employee commitment and identity to the partnership without putting at risk the employing organisation's goals; (b) how to establish attractive career pathways in a partnership context requiring some degree of sharing of skill standards and coordination of training provision; and (c) how to sustain partnerships in a changing policy and organisational context. The data point to inherent problems in managing employment when there is more than one employing organisation exercising influence. Differences in organisational goals and HRM approaches in hospital networks are an obstacle to long-term integration – especially in public–private arrangements where integration of goals and HRM is more difficult.     

A Private-Public Strategy for International Marketing Through Collective Brands: Canada Brand Foods

A country brand for agrifood products requires managing quality across a range of products and firms while recognizing the potential pitfalls in linking a brand's image with a country's image. Understanding the incentives for firms adopting the brand to use and contribute to the brand's equity informs the choice of brand management mechanism. The challenges in managing a country brand for international agrifood exports are discussed. This case is used to illustrate a strategy based on the obstacles faced by a collective brand that is used by many firms. The article highlights how a successful strategy will produce a brand that is unique, robust to impersonators, and has quality assurance mechanisms that are in line with firm's incentives to produce high-quality products.     

Social class and wilderness use

Abstract

Using social class and social inequality theories and concepts, we reexamine previous studies of recreation participation in designated wilderness. We suggest that members of the semiautonomous class—highly educated professional‐technical and craft employees who have limited control over what work they do but a great deal of control over how they do it (Wright, 1978)—appropriated wilderness and continue to dominate wilderness use. We propose an explanation of how and why this occurred.     

Women's leisure time — using time budget data to examine current trends and future predictions

This paper draws on the findings from 551 interviews among 16–20-year-olds from high unemployment areas in Liverpool, London, Manchester and Wolverhampton. It argues that theories about responses to unemployment, derived from the experiences of earlier generations, cannot be reconciled with the behaviour and attitudes of contemporary youth. To make sense of current developments, and in particular to understand the relevance of recreation in an age of rising youth unemployment, the authors insist that we need to reappraise work and leisure, and recognize the qualitative as well as quantitative aspects of the changes in process.     

The demand for the audit in small companies in the UK

A recent development of the big GAAP/little GAAP debate in the UK was the proposal to raise the audit exemption thresholds for small companies to EC levels. This paper is based on a survey of the directors of 385 companies conforming to the EC definition of ‘small’. The study investigates whether the three size criteria in company legislation (turnover, balance sheet total and number of employees) are appropriate and sufficient proxies for the demand for the audit by developing and testing a number of theoretical models. The results found that 63% of companies would choose to have their accounts audited if they were exempt, which suggests that the majority of those affected by the proposed increase consider the benefits outweigh the costs. It was found that turnover alone could represent size, but that size was less important than the directors' perceptions of the value of the audit in terms of improving the quality of information and providing a check on internal records. Agency relationships with owners and lenders were also found to be significant influences on the demand for the audit in companies of the size studied.     

Feminist Geopolitics: Unpacking (In)Security,Animating Social Change

This piece is the introduction to a special section on Feminist Geopolitics focusing specifically on securitisation. This introduction provides an overview of the field of feminist geopolitics and situates the contributions of the articles that follow. We argue that the contributions to the section push the field in two distinct ways. First, a number of the pieces draw important connections between geopolitical and geoeconomic processes. Second, the pieces continue to excavate the complex relationship between geopolitical processes and everyday life. Taken as a whole, this special section highlights the utility of feminist geopolitical approaches for gaining analytic clarity and thinking through and enacting positive social change.     

The perception of difficulty in project-work planning and its impact on resource sharing

Managers both competent and willing to share resources can be critical to the performance of the multi-project settings increasingly common to modern organizations. Drawing on theoretical perspectives from the psychological ownership literature, we examine the impact of project manager (PM) task self-efficacy and perceptions of project work-planning difficulty on resource sharing behaviors. In this study we use a laboratory experiment involving practicing PMs to elicit work assignments for their subordinate team-members across a series of predefined projects. We control for the difficulty of these assignment tasks and follow-up by inquiring into the willingness of the PMs to share human resources that they’ve assigned to work in these projects. The results from the experiment involving 161 professional PMs suggest that difficulty in project work-planning in general has a significant impact on sharing behaviors. Consistent with the implications of psychological ownership theory, this relationship is significantly moderated by project managers’ task self-efficacy. Theoretical and practical implications of these results are discussed.