Are Terms of Trade Rises Inflationary?

This article explores the relationship between the terms of trade and inflation. It shows, both analytically and empirically, that the exchange rate response to a change in the terms of trade is crucial to the inflation outcome. It demonstrates the existence of a ‘threshold’ exchange rate response. Our best estimate is that a rise in the terms of trade is inflationary if the associated rise in the real exchange rate is less than about 1/3–1/2 of the rise in the terms of trade. However, if appreciation of the real exchange rate is larger than this, the consequent fall in the domestic price of importables is large enough that the terms of trade rise reduces inflation, at least in the short run.     

Do project managers' leadership competencies contribute to project success?

This article explores the following hypothesis: There is a statistically significant relationship between a project manager's leadership competencies and project success. Two proven questionnaires, the leadership dimensions questionnaire (LDQ) and the project success questionnaire (PSQ), were used to gather data from 52 project managers and project sponsors from a financial services company in the United Kingdom. The results from the LDQ and PSQ are presented in this article. A factor analysis of PSQ revealed three independent factors: usability, project delivery, and value of output to clients. The last factor is not related to project leadership or management, so the article concentrates on correlations between the other two factors and project leadership. Eight separate leadership dimensions were found to be statistically significantly related to performance, so the hypothesis was largely supported. Identifying such relationships provides managers with guidance on possible selection and project improvement models, whereby increased capability in leadership dimensions can lead to increased success in project management.     

Fraud and its PREY: Conceptualising social engineering tactics and its impact on financial literacy outcomes

Financial literacy may not be as effective as previously thought in protecting against fraud victimisation. It does not inoculate investors from persuasion or social engineering tactics used by offenders to secure investment in fraudulent schemes. In fact, recent research indicates that overconfidence in investment knowledge may make individuals more susceptible to fraud. Using boiler room fraud as a case study, this article introduces the PREY (Profiled, Relational, Exploitable and Yielding) model to capture the psychological tactics used by fraud perpetrators to influence the thoughts and decision-making processes of individuals. The PREY model operationalizes the tenets of social engineering and demonstrates how such tactics could be re-engineered to increase the effectiveness of fraud prevention within the financial literacy context.     

Exploring Organizationally Directed Citizenship Behaviour: Reciprocity or ‘It's my Job’?*

ABSTRACT This study sets out to examine two explanations for why employees engage in organizational citizenship behaviour (OCB). The first explanation views OCB as a form of reciprocation where employees engage in OCB to reciprocate fair or good treatment from the organization. The second view is that employees engage in OCB because they define those behaviours as part of their job. The research methodology consisted of survey data from 387 hospital employees on their perceptions of procedural and interactional justice, mutual commitment, job breadth and OCB. The results suggest that procedural and interactional justice are positively associated with mutual commitment that in turn, is related directly to OCB and indirectly through expanding the boundaries of an individual's job. These findings suggest that together the reciprocation thesis and ‘it's my job’ argument complement each other and provide a more complete foundation for our understanding of OCB. The difference between the two perspectives lies in the process by which individuals respond; that is, role enlargement and role maintenance. Implications and directions for future research are discussed.     

Some simple mathematical models for adoption processes: The case of the comprehensive school reform in Norway

This article reviews simple mathematical models which have been or may be used for adoptation processes. Each model's role in the explanation process is analyzed.

The case of the spread of the comprehensive school reform in Norway is used to ilustrate an adoption process. The logistic, or chain-reaction model, and a normal model for independent adoption are emphasized. The fit of the curves for the provinces and the whole country favors the logistic model. Evidence of a “neighborhood effect” at the micro-level also points to a communication process.

     

The Development of Underdevelopment at Akwesasne

A bstract . The historical processes of Mohawk "underdevelopment" at Ak-wesasne are chronicled and the subversion of Native values and subsistence, and the creation of Native dependence on non-Native society examined. Mohawk involvement in this predicament is traced to several processes: participation in the 17th century European/wr trade, which contributed to the destruction of the tribe's traditional economy; coerced adherence to Christianity, which con-tributed to the loss of traditional American Indian value systems; and associated loss of lands and resources due to broken treaties and unjust laws.     

Unit Ipos: The Who,When, And Why Of Warrant Amendment

Although unit initial public offering (IPO) firms reserve the right to amend the original terms of their warrants, only some choose to extend the exercise period, lower the exercise price, or both. We examine the extent of warrant amendment among unit IPOs and find that the decision to amend is related to the need for cash and is generally employed when share prices are closer to the original warrant exercise prices. Furthermore, extension is less likely when the firm is riskier, whereas higher levels of insider ownership significantly reduce the likelihood that a firm will lower the exercise price.