Consumer fraud and Latino immigrant consumers in the United States

Disadvantaged consumers are often the victims of consumer fraud; low‐income Latino a immigrants are especially likely to be victims due to their lack of English proficiency and inexperience in the local marketplace. A qualitative research study using purposeful sampling was conducted to identify areas of consumer fraud experienced by 45 Latino immigrants. Types of unscrupulous practices are identified, including sales of automobiles, prepaid telephone cards and counterfeit documents. Problems with fraud are discussed in terms of a model of disadvantaged consumers and implications for education are suggested to counteract the identified problems.     

A Variance Ratio Test of the Behaviour of Some FTSE Equity Indices Using Ranks and Signs

This study utilises tests based on ranks and signs suggested by Wright (2000) in addition to the traditional variance ratio test to examine the behaviour of some UK Financial Times Stock Exchange (FTSE) stock indices. The results suggest that the null hypothesis of martingale difference behaviour of the index returns series examined in the study is rejected. The use of the nonparametric based variance ratio tests provide stronger evidence against the martingale difference behaviour than the conventional variance ratio tests, under conditions of both homoskedasticity and heteroskedasticity for the examined series. Moreover, the application of Wrights variance ratio tests in a rolling window framework, indicates that the results for the FTSE returns are consistent neither with a linear AR assumption nor with the white noise hypothesis.We are grateful to Jonathan Wright for programming help. We also thank the editor and an anonymous referee for their constructive comments. All errors and omissions remain ours.     

The information society in California: Social factors influencing its emergence

The authors identify three elements which will influence California's future. First, demographic shifts in the state's population have altered California's ethnic and cultural foundations. Second, the state educational system does not seem prepared to train larger numbers for information work, especially members of its growing ethnic population. Third, almost half the state's workforce is now employed in information-oriented work, whether in the industrial, service, or agricultural sectors. The authors demonstrate that the interaction of these elements has profound implications for California's development.     

Selfishness versus public ‘regardingness’ in voting behavior

The selfishness hypothesis in voting behavior is formalized and tested. For the first time individual net benefits from a bond proposal, computed using the median voter model, are used to explain voting behavior. It was found that taxpayers in general voted according to their self- interest as defined by net benefits. However, high income groups voted in favor of proposals that would have redistributed income to the poor. Their behavior is consistent with either the public ‘regardingness’ hypothesis or with an extension of the selfishness hypothesis which includes real estate speculation.     

PRICE, PURCHASING POWER AND REAL PRODUCT COMPARISONS IN LATIN AMERICA

The paper begins with a discussion of the concepts used and the scope of their application. Then the purchasing power parity rates for LAFTA countries in 1968 are presented and analyzed. With the aid of such rates the real gross domestic products of these countries in 1968 are estimated. Among other conclusions, it is found that these differ quite importantly from GDP calculations using foreign exchange rates, even within the LAFTA area. Finally, the levels of consumer prices in the region in 1968 are compared, and these are contrasted with the results of a similar survey undertaken in 1960.     

Effect of Ethical Climate on Turnover Intention: Linking Attitudinal- and Stress Theory

Attitudinal- and stress theory are used to investigate the effect of ethical climate on job outcomes. Responses from 208 service employees who work for a country health department were used to test a structural model that examines the process through which ethical climate (EC) affects turnover intention (TI). This study shows that the EC–TI relationship is fully mediated by role stress (RC), interpersonal conflict (IC), emotional exhaustion (EE), trust in supervisor (TS), and job satisfaction (JS). Results show that EC reduces (RS) and increases TS. Lower stress levels result in lower EE, higher JS, and lower TI. Also, supervisor trust (TS) reduces IC and EE. The structural model predicts 53.9% of the variance of TI. Jay Prakash Mulki is an Assistant Professor at Northeastern University. He has extensively published in the sales management area. His articles have been published in the Journal of Personal Selling & Sales Management, Journal of Business Research, and Psychology and Marketing. Jorge Fernando Jaramillo is an Assistant Professor of Marketing at the University of Texas at Arlington. His research interests include marketing strategy and sales force management. Dr. Jaramillo’s research has appeared in multiple journals including the Journal of Personal Selling & Sales Management, International Journal of Research in Marketing, Journal of Business Research, and the Journal of Marketing Education. William B. Locander is the founding Director of the Davis Leadership Center at Jacksonville University. He is a former President of the American Marketing Association and has served as an examiner of the Malcolm Baldrige National Quality Award. He is also a member of the Editorial Board of the Journal of Marketing Theory and Practice. Dr. Locander has published in several business journals including the Journal of Marketing, Journal of Marketing Research, Journal of Consumer Research, Journal of Business Research, and the Journal of Personal Selling & Sales Management.     

Determinants of microcredit repayment in Portugal: analysis of borrowers,loans and business projects

Microcredit programs in Portugal represent a unique case for studying the microcredit repayment determinants in a developed country, as it experienced a financial hardship in 2008–2009, with economic and social consequences that led to unemployment crisis. This research examined the determinants of microcredit loan repayment based on a sample of 752 microcredit loans granted in Portugal by the National Association for the Right to Credit, adopting individual lending mechanisms and granting loans through partnerships with several credit institutions. This is the first study to ascertain the influence that a set of factors – grouped into three categories: borrowers’ individual characteristics; loan characteristics; and characteristics of business projects implemented by borrowers – has on the repayment ability of microcredit programs, in a developed country of the Eurozone. Moreover, this is the first study using an ordered logistic regression (OLR) in estimating the determinants of microcredit loan repayment. Similar to previous studies, married borrowers tend to repay loans faster as they tend to be more responsible than single borrowers. Nationality seems to be an issue as foreigners tends to default the repayment loans. Finally, those involved in manufacturing activities perform better than those involved in service activities in repaying their loans. This clearly indicates that in developed countries special attention needs to be provided to minority groups as well as market/supply conditions, which are not normally considered in less favored economic countries.     

THE IMPACT OF FISCAL DECENTRALIZATION: A SURVEY

In this paper, we offer a comprehensive and updated review of the impact of fiscal decentralization on the economy, society and politics. Our first target is the examination of two crucial and yet unsolved issues in the empirical literature on decentralization: the proper measurement of decentralization itself and its potential endogeneity in econometric estimates. Then, we discuss the main existing findings on the effects of decentralization on a relevant list of socio-economic issues. The impact of fiscal decentralization reforms on political institutions and public policies is also considered. Complete answers on the impact of fiscal decentralization are not likely to be certain but, overall, there are reasons to be optimistic about the net positive result. Our survey by necessity has to be selective but it presents a balanced view of what is known and what is not yet known opening room for further research and practice on fiscal decentralization.