Do Traditional Chinese Cultural Values Nourish a Market for Pirated CDs?

On one hand, Chinese consumers are well known for conspicuous consumption and the adoption of luxury products and named brands. On the other hand, they also have a bad reputation for buying counterfeit products. Their simultaneous preferences for two contrasting types of product present a paradox that has not been addressed in the literature. This study attempts to present an explanation of this paradox by examining the effects of traditional Chinese cultural values and consumer values on consumers’ deontological judgment of pirated CDs and the amount of social benefits they perceive they gain from them. We interviewed 300 Hong Kong Chinese consumers, and found that face consciousness increased materialism and risk aversion, thereby producing a favorable deontological judgment of pirated CDs. Face consciousness also has a direct effect on the amount of social benefits perceived in pirated CDs. Both favorable deontological judgment and perceived social benefits contributed to a strong intention to buy pirated CDs. The results are discussed in a cultural perspective.     

Triggered or evaluated? A qualitative inquiry into the decision to start using e-grocery services

ABSTRACT

This qualitative paper examines the importance of both situational factors and adoption constructs in the decision to use online grocery services for the first time. To that end, we have conducted semi-structured in-depth interviews with (one or more representatives of) 15 households in Flanders (the Dutch-speaking part of Belgium), who all use Collect & Go, Belgium’s most popular online grocery service. The content analysis shows that adoption is often induced by situational factors (such as health problems or changes in family circumstances), but not in isolation from an evaluation of technology adoption constructs (such as performance expectancy and social influence). Indeed, we find that immediately or soon after the emergence of the initial trigger, consumers start thinking of the service in terms of innovation characteristics. Moreover, unlike what the literature suggests, adoption is not discontinued when the initiating trigger disappears.     

National culture and financial literacy: international evidence

ABSTRACT

We examine to what extent (aspects of) national culture can explain cross-country variations in financial literacy. Our results, for a sample of 92 countries, show that Hofstede’s dimensions of power distance and individualism explain, respectively, over 40 and 60 per cent – which is substantially more than national cognitive scores and standard economic variables. In particular, we find that financial literacy is lower in countries where power distance is high, and that the opposite is true for individualism. Uncertainty avoidance would seem be negatively related with financial literacy, but the evidence is not so strong. For masculinity, indulgence, and long-term orientation we find no significant impact. Overall, our results highlight the need for additional (interdisciplinary) theories that can improve our understanding of the determinants of financial literacy and better guide policies in this area.     

National culture and (dis)trust in banks: Cross-country evidence

We examine to what extent a specific aspect of national culture—uncertainty avoidance—can explain cross-country variations in (dis)trust in banks. Relying on data from the World Values Survey, we find that trust in banks is lower in countries that score high for Hofstede's uncertainty avoidance index. Similarly, with Global Findex data, we find that financial exclusion due to a lack of trust in banks is high in high uncertainty avoidance cultures. These results highlight the need for a more culturally aware approach when designing consumer protection measures for the banking sector.     

Using high, low, open, and closing prices to estimate the effects of cash settlement on futures prices

Due to dwindling commercial interest in the feeder cattle futures contract, the Chicago Mercantile Exchange (CME) decided to replace the contract's physical delivery provision with a cash settlement provision, arguing that cash settlement would help reduce price volatility and attracts more commercial interests. In this article, we apply stochastic volatility models to investigate the CME conjecture, using four different estimators based on opening, high, low, and closing prices, respectively. With each estimator, we find that the volatility of the feeder cattle futures price decreases after the implementation of cash settlement. We conclude that the change in the contract specification enhances price discovery and the contract's hedging performance.     

Normalized Intensity: The New Labour Process of Middle Management

abstract    Based on qualitative interviews (n = 64) within five UK organizations that have embarked on large-scale restructuring (including delayering, downsizing, culture change, role redesign, lean production) we argue that middle managers are currently experiencing significant and progressive work and personal pressures. Performance is monitored more closely, hours and intensity of work are increasing, roles and tasks are changing frequently, and prospects for promotion are downscaled within flattened hierarchies. Whereas middle managers report increased levels of autonomy and skill, are often well remunerated, and frequently appear motivated (at least in the private sector), we suggest their burgeoning grievances over working hours, role pressures and promotion prospects have worrying implications for the future performance of UK industry. We argue further that the motivation for corporations to embark on such large-scale restructuring is best understood with reference to the incessant demands of international capitalism. We conclude that such restructuring, and the personal managerial experiences that result from it, is in keeping with many, but crucially not all, of the trends predicted by Bravermanian labour process theory.     

Affirmative action as a form of restitution

Though the common sense defense of affirmative action (or employment equity) appeals to principles of restitution, philosophers have tried to defend it in other ways. In contrast, I defend it by appealing to the notion of restitution, arguing (1) that alternative attempts to justify affirmative action fail; and (2) that ordinary affirmative action programs need to be supplemented and amended in keeping with the principles this suggests. Leo Groarke is associate professor of philosophy at Wilfrid Laurier University. His work has appeared in a number of scholarly journals, including Dialogue, Atlantis, The Public Affairs Quarterly, Teaching Philosophy and The Journal of the History of Philosophy. His books include Nuclear War: Philosophical Perspectives (1985) and Greek Scepticism (forthcoming from McGill-Queen's University Press).     

Multinational firms, market integration, and trade structure: What remains of the standard-goods hypothesis?

Multinational Firms, Market Integration, and Trade Structure: What Remains of the Standard-Goods Hypothesis? — In extending traditional empirical trade models to multinational firms, this paper shows the effect of the transfer of firm-specific technology and intangible assets by these firms on the structure of host countries. For Belgium, a small open economy with a large presence of foreign multinationals, this effect is of crucial importance and previous studies appeared to have produced biased results by neglecting it. The econometric results show how the large multinational presence induced by the European integration has shifted Belgium’s trade structure towards differentiated products, thereby challenging the standard-goods hypothesis which states that small countries tend to specialize in nondifferentiated products. Spain and Ireland have witnessed an increase in foreign direct investment and a shift in trade structure similar to Belgium after joining the EC.     

Planning and Uncovering Industrial Symbiosis: Comparing the Rotterdam and Östergötland regions

Industrial ecology is defined as the study of material and energy flows through industrial systems and as such may focus on a geographic area, resource and/or industry sector. In these types of setting, industrial ecology is also often known as industrial symbiosis (IS). The proximity of companies in industrial estates facilitates the linking of utilities and the exchange of wastes and by‐products, which may eventually be useful inputs for adjacent industrial processes. The typical model that has been applied in several regions of the world is one where an anchor‐tenant organization with energy and by‐product linkages is connected to companies physically located nearby. In the case of biomass symbiosis, however, the resource chains are not explicitly arranged by their industrial setting and the supply of waste and by‐products is able to be organized in a more scattered way. In this article, the role of industrial symbiosis is analyzed in respect of the planned industrial symbiosis activities in the Rotterdam Harbour and Industry Complex in the Netherlands and in the application of renewable energy in the Östergötland region in Sweden. The objective of this article is to discuss the similarities and differences between the planned industrial symbiosis activities in Rotterdam and the unplanned biomass and industrial symbiosis activities in the Östergötland region. By presenting this knowledge in this article, it is anticipated that further development of industrial symbiosis application processes may be achieved. Copyright © 2011 John Wiley & Sons, Ltd and ERP Environment.