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51.
From a series of qualitative interviews with Japanese managers and German managers and workers in thirty-one Japanese-owned companies in the Düsseldorf region of western Germany, this article discusses differences in cultural patterns and organizational styles between the German and Japanese employees and the problems these pose for communication, cooperation, and morale. First, we deal with cultural contrasts: language issues, interpersonal styles (personability and politeness), and norms regarding the taking of responsibility. Second, we examine the impact on cross-nationality relations of established organizational practice: for example, German specialism vs. Japanese generalism; direct and vertical vs. indirect and incremental decision making. We also discuss efforts by these firms to find compromise systems that would meet the needs and interests of both sides. The third focus is the reactions of Japanese companies in North Rhine-Westphalia to German unions, works councils, and codetermination regulations. In the labor view, Japanese firms overall do no better or worse than comparable German firms. 相似文献
52.
This study postulates that youths remain in the labor force so long as the number of weeks they have employment exceeds the number they consider as minimally acceptable. Such a threshold level of weeks worked can be related to the notion of a reservation wage. Prior employment or experience raises expectations and should increase the threshold. Other factors, such as illegal opportunities to earn income, may also raise the threshold. If the actual fraction of weeks a youth works exceeds this threshold, then we expect that youth to be employed during the following period. We compare data for individuals of both sexes, age 16 or 17 years, from the Youth Cohort of the National Longitudinal Survey regarding the behavior of those who dropped out of school, those in the process of dropping out of school, and those remaining in school. Involvement in crime decreases the likelihood of future employment–most for dropouts and least for those remaining in school. 相似文献
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54.
The Causes of the German Banking Crisis of 1931 总被引:2,自引:0,他引:2
HAROLD JAMES 《The Economic history review》1984,37(1):68-87
55.
This paper presents a stochastic optimization model for marketmaking in security markets with a single dealer. Buy and sell orders are assumed to arrive at rates that are functions of the ask and bid prices. The dealer incurs both proportional and fixed transaction costs as well as portfolio costs. Methods of dynamic programming and semi-Markov Decision Processes are used to characterize optimal pricing policies and to perform sensitivity analysis. Both bid and ask prices are nonincreasing functions of the dealer's inventory. Spread is unrelated to inventory position but positively related to order size. Computational examples demonstrate various results. 相似文献
56.
RALPH A. WINTER 《The Journal of Finance》1981,36(1):81-96
This article re-examines the conclusion of previous studies that price dispersion is extreme in the American whole life insurance market. We take an axiomatic approach to the problem of measuring “price” dispersion in the market for the multiparameter whole life contracts, studying the distribution across contract offers of a price index which is uniquely determined by two conditions. In contrast to the accepted wisdom, we find that the derived measure of price dispersion is only 3.6% and that much of this dispersion can be accounted for by measurement error. 相似文献
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We show theoretically that variable production costs reduce systematic risk of firms' cash flows if capital and variable inputs are complementary in firms' production and input prices are procyclical. In our dynamic model, this operating hedge effect is weaker for more profitable firms, giving rise to a gross profitability premium. Moreover, gross profitability and value factors are distinct and negatively correlated, and their premia are not captured by the capital asset pricing model (CAPM). We estimate the model by simulated method of moments, and find that its main implications for stock returns and cash flow dynamics are quantitatively consistent with the data. 相似文献