We consider procedures that use randomness to make a decision that involves several individuals. We asked subjects to compare the fairness of six pairs of seemingly equivalent procedures. We propose a classification of subjects into two categories: those who are “emotional” in the sense that they exhibit a systematic ranking of procedures on the basis of intuitive notions of fairness, and those who are “consequentialists” in the sense that they systematically view each pair of procedures as being equally fair. According to this classification, about 30% of the subjects are emotional while 31% are consequentialists. 相似文献
Using a contingency perspective, we investigated two complementary topics: (a) the influence of the GLOBE national cultural values and key organisational variables on employee use of flexible work arrangements (FWAs), and (b) the contribution of the level of congruence between cultural values and FWA use on absenteeism and turnover. The results, based on Cranfield Network on Comparative Human Resource Management—a large data set across multiple countries—supported the hypothesised effects of the cultural values on employee use of FWAs and the moderating effects of these cultural values on FWA use and organisational outcomes. Specifically, we found that national cultural values and organisational characteristics were related to outcomes via FWA use; and employees' use of FWAs had the overall effect of reducing absenteeism and turnover, but this effect was weakened when the FWAs were not consistent with cultural values. Theoretically, our results add to our knowledge and understanding of the effects of FWA use on absenteeism and turnover under different degrees of “fit” with cultural context. From a practical perspective, our results suggest that organisations should consider national cultural characteristics before implementing FWAs. A misfit between national culture and FWAs would potentially reduce employee use of FWAs and increase the likelihood of absenteeism and turnover. 相似文献
This study examines a general scheme of multicriteria decision-making under uncertainty based on quantitative and qualitative information. In its original form, the general scheme uses qualitative information at the final decision stage, only if the quantitative information is unable to generate unique solutions. Considering that many problems require objectives based on qualitative information at all decision stages, the results of Ramalho et al. (2019) can provide such solutions. However, the processing of qualitative information in Ramalho et al. (2019) is based on applying a very simple approach to aggregating individual preferences without analyzing any type of consensus information. Therefore, the present study sets out to show that representative combinations of initial data, states of nature or scenarios can be constructed by using qualitative information directly, based on aggregating individual preferences after achieving the necessary consensus. In particular, a new scheme for consensus construction is proposed. Using this scheme enables negative points inherent in traditional approaches to be avoided and uncertainty levels to be reduced when estimating coefficients of objective functions based on qualitative information. An illustrative example is presented to demonstrate the results that the new proposal can achieve.
Groundwater basins are usually separated into aquifers that are hydrologically interrelated. This interrelation may take the
form of water movement from one aquifer to another. When differentials in water quality exist, pumping from one of the aquifers
can cause water movement that may be associated with degradation of its quality. A management policy that considers this interrelation
may be preferable to an independent management of each aquifer. This paper develops a dynamic optimal control model to evaluate
joint versus independent management. The optimal joint pumping management, in which two adjacent aquifers of different water
qualities are interrelated, is analyzed and compared to independent aquifer pumping, and the situations where joint management
is not required are identified. Policy implications are then derived and discussed. Finally, the theoretical model is applied
to a case of interrelated aquifers in southern Israel. The empirical model identifies conditions (interest rate, agricultural
fresh water supply rainfall recharge, price of surface water, drinking water quality standards) under which a joint policy
is preferable. The empirical results confirm the theoretical ones. 相似文献
The United States Government does not mandate that US based firms follow US social and environmental law in foreign markets.
However, because many developing countries do not have strong human rights, labor, and environmental laws, many multinationals
have adopted voluntary corporate responsibility initiatives to self-regulate their overseas social and environmental practices.
This article argues that voluntary actions, while important, are insufficient to address the magnitude of problems companies
confront as they operate in developing countries where governance is often inadequate. The United States can do more to ensure
that its multinationals act responsibly everywhere they operate. First, policymakers should define the social and environmental
responsibilities of global companies. They must consistently make their expectations for global business clear – and underscore
that this objective can often be accomplished without mandates. Second, the US should closely examine the policies that undermine
global Corporate Social Responsibility (CSR) and address the many conflicting signals sent by policymakers. Third, the President
should make the US government a CSR model by examining how to use its purchasing power to promote human rights. Finally, the
US government should require pension funds to report on the social and environmental consequences of their investments. In
these ways, Americans can mind our business – and thus make sure that US based firms do not undermine social and environmental
progress when they operate in the developing world.
Susan Aaronson is Senior Fellow and Director of Globalization Studies at the Kenan Institute Washington Center, an arm of
the Kenan-Flagler Business School, University of North Carolina Chapel Hill. Her scholarly research focuses on international
investment and social responsibility issues. Aaronson devised and directed a study, funded by the Ford, UN and Levi Strauss
Foundations, that examined how U.S. public policies can promote or undermine global corporate social responsibility. She is
now beginning a Levi-Strauss funded project on trade and human rights. Aaronson is a frequent speaker on public understanding
of globalization issues and the author of four books on globalization including, Taking Trade to the Streets: The Lost History
of Public Efforts to Shape Globalization (Michigan: 2001). 相似文献
This article examines how expected changes in climate are likely to affect agriculture in China. The effects of temperature and precipitation on net crop revenues are analyzed using cross-sectional data consisting of both rainfed and irrigated farms. Based on survey data from 8,405 households across 28 provinces, the results suggest that global warming is likely to be harmful to rainfed farms but beneficial to irrigated farms. The net impacts will be only mildly harmful at first, but the damages will grow over time. The impacts also vary by region. Farms in the Southeast will only be mildly affected but farms in the Northeast and Northwest will bear the largest damages. However, the study does not capture the indirect effects on farms of possible changes in water flow, which may be important in China. 相似文献
This study examines the effects of the firm's ownership concentration and its institutional environment on corporate debt maturity choices. As ownership concentration and debt maturity are alternative governance mechanisms, we theorize and investigate whether their association is influenced by country-level governance factors that enhance outside monitoring by minority shareholders and debtholders. Our investigation is based on a dataset of 50,599 firm-year observations from 38 countries. We use a propensity-score matching approach and find that the effect of ownership concentration on debt maturity is conditional to country-level governance attributes. Ownership concentration has a negative effect on debt maturity in countries where both shareholder protection and creditor rights are weak. Ownership concentration, however, tends to lengthen debt maturity as protection increases, and this positive effect on the length of debt maturity is stronger in countries enhancing protection towards debtholders (instead of shareholders). We also explore other characteristics of ownership structure, such as the identity and presence of controlling shareholders. These results corroborate the view that entrenched shareholders may use debt maturity opportunistically. Our study provides new insights into the interplay between firm- and country-level governance mechanisms and a deeper understanding of cross-country differences in the association between ownership structure and debt financing. 相似文献
In this work, we introduce the notion of fully incomplete markets. We prove that for these markets, the super‐replication price coincides with the model‐free super‐replication price. Namely, the knowledge of the model does not reduce the super‐replication price. We provide two families of fully incomplete models: stochastic volatility models and rough volatility models. Moreover, we give several computational examples. Our approach is purely probabilistic. 相似文献
In the last two decades, several methods for estimating Value at Risk have been proposed in the literature. Four of the most successful approaches are conditional autoregressive Value at Risk, extreme value theory, filtered historical simulation and time‐varying higher order conditional moments. In this paper, we compare their performances under both an empirical investigation using 80 assets and a large Monte Carlo simulation. From our analysis, we conclude that most of the methods seem not to imply huge numerical difficulties and, according to usual backtests and performance measurements, extreme value theory presents the best results most of the times, followed by filtered historical simulation. 相似文献