Breeding one's own sub-prime crisis: The labour market effects on financial system stability

Crisis may spread through economy via the propagating mechanisms of the labour market - households becoming delinquent due to an initial unemployment shock may be unable to continue servicing obligations versus the financial system. With large debts - e.g. mortgages - such defaults pose a threat to financial system stability. In this paper we use the Polish household budget surveys to simulate the impact of changes in the labour market status of household members on the ability of the household to service its mortgage payments. The simulation results are subsequently aggregated to facilitate a macro-level interpretation of the findings. We simulate various scenarios of labour market deterioration. Finally, we also introduce a policy instrument into the simulations providing, in a fiscally neutral manner, additional stability to the financial system. Based on robustness checks, the findings seem to be reliable. The results suggest that even with shares of debtors among consumers as low as in Poland, the propagation mechanism may indeed result in a considerable threat, while the fiscally neutral instrument is effective and well-suited to be addressed in providing additional stability to the financial system.     

The Structure of Trust in China and the U.S.

This article investigates the structure of trust in China and compares it with the U.S., using the 2000 and 2005 waves of the World Value Survey (WVS). We analyze two dimensions of trust – trust in people and trust in major companies. It is found that the level of trust has remained stable in China within the 5-year period. On the other hand, trust in major companies has declined dramatically in U.S. while trust in people has increased slightly. The structure of trust in companies is different from trust in people. For both countries, individuals with higher education tend to have a higher level of trust. Individuals who are divorced tend to have lower trust in people. Individuals who think that other people are fair are more likely to trust in people. Preference for competition has a positive effect on trust in major companies. On the other hand, some differences between the two countries are observed. Perception of fairness does not affect trust in major companies in China, while it has a positive effect in U.S. in year 2006. Preference for equality has a negative effect on trust in major companies in U.S. but no significant effect in China. The pattern of trust and its changes over time may reflect differences in market conditions in the two economies.     

Attractiveness of augmented reality to consumers

ABSTRACT

Augmented reality (AR) may be capable of shaping the competitive advantage of companies by providing various benefits for the consumers. The aim of this article is to assess if AR is attractive to consumers and in which areas it can create the most value. Hence, we have sought to identify the most useful areas of AR applications, as well as factors influencing AR’s attractiveness. Our study finds that consumers regard AR as the most useful in the areas of education, medicine and tourism. Furthermore, we found a gap between the supply and needs of customers in terms of types of AR application offered on the market. We identified advantages and disadvantages of AR applications over their traditional counterparts impacting its adoption. Our research confirms that both hedonic and utilitarian aspects of the user experience are important for AR’s adoption.     

Revisiting the Quantitative-Qualitative Debate: Implications for Mixed-Methods Research

Health care research includes many studies that combine quantitative and qualitative methods. In this paper, we revisit the quantitative-qualitative debate and review the arguments for and against using mixed-methods. In addition, we discuss the implications stemming from our view, that the paradigms upon which the methods are based have a different view of reality and therefore a different view of the phenomenon under study. Because the two paradigms do not study the same phenomena, quantitative and qualitative methods cannot be combined for cross-validation or triangulation purposes. However, they can be combined for complementary purposes. Future standards for mixed-methods research should clearly reflect this recommendation.     

The Experience of Participatory Research: Perceptions of Oncology Employees Participating in a Workplace Study

Participatory research, a concept developed in the Third World, has been increasingly applied to community and health research in developed countries. However, little is known about attitudes to the participatory process in the context of workplace research, especially that carried out in health care settings. In this qualitative study, employees participating in a quality of work-life (QWL) project at a Canadian cancer centre were asked about their perceptions of the participatory research process. Using a phenomenological approach, the author interviewed 12 employees. The following themes emerged from the analysis of interview data: (1) The role of management and senior management was viewed as being important but employees were uncomfortable with the presence of management at meetings; (2) The desired composition of the committee was more complex than ensuring representation from workers and there may have been a natural process by which this composition was attained; (3) Participatory research without action was unacceptable; and (4) Full participation in all aspects of the project was difficult to achieve. These findings have important implications because they challenge some existing notions in the literature about participatory research. Recommendations regarding trust issues, membership recruitment, and the role of members in the participatory process are outlined.     

The implications of performance feedback research for understanding antisocial work behavior

This paper explores existing performance feedback models and their implications for understanding antisocial behavior at work. We begin with the presentation of a summary model that outlines constructs and relationships common in current feedback models. Then, we discuss what these constructs and relationships suggest about the occurrence of antisocial responses when negative performance feedback is provided. In addition, we use the performance feedback model to identify areas of research that have been ignored in current conceptualizations of antisocial work behavior.     

The Determinants of Chinese Outward FDI in Countries Along “One Belt One Road”

This article identifies the main determinants of Chinese outward FDI (OFDI) activities with a focus on One Belt One Road (OBOR) countries during the period 2003–2015. We established a panel dataset including 93 countries (49 OBOR countries within and 44 countries outside the OBOR). The results show that Chinese OFDI in OBOR countries are highly sensitive to exchange rate (ER) level, market potential, openness, and infrastructure facilities of host countries. The determinants of Chinese OFDI in OBOR countries differ from those outside.     

Dynamics of productivity in higher education: cross-european evidence based on bootstrapped Malmquist indices

This study examines patterns of productivity change in a large set of 266 public higher education institutions (HEIs) in 7 European countries across the time period 2001–2005. We adopt consistent bootstrap estimation procedures to obtain confidence intervals for Malmquist indices of HEI productivity and their components. Consequently, we are able to assess the statistical significance of changes in HEI productivity, efficiency and technology. Our results suggest that, assessed vis-à-vis a common ‘European’ frontier, HEI productivity rose on average by 4 % annually. Statistically significant changes in productivity were registered in 90 % of observations on the institutions in our sample, but statistically significant annual improvements in overall productivity took place in only 56 % of cases. There are considerable national differences, with German, Italian and Swiss HEIs performing better in terms of productivity change than HEIs from the other countries examined.     

Rating of worry about energy sources with respect to public health,environmental health,and workers

Environmental risks of different energy sources pose a significant problem for managers, decision-makers, and the general public. Attitudes and perceptions may differ by type of energy, as well as the recipient of the harm. A post-Fukushima survey of students and others in a university community in central New Jersey was conducted to determine how much people worried about the potential effects of different energy types (nuclear, chemical, coal, hydroelectric, solar, wind, and gas), which aspect they worried about (public health, workers, and the environment), and which form they thought the USA should further develop. Ratings for worry varied significantly by energy type and receptor type. In general, worry was greater for all aspects of chemical, coal, nuclear, and gas, and significantly less for hydro, solar, and wind. Worry was generally higher for exposure from the plant, exposure from food and water, exposure to workers, and exposure for wildlife than for either transportation issues or exposure from everyday occurrences. The same exposures (or targets) were rated for each energy source. The greatest worry for each energy type was as follows: (1) nuclear exposure to radiation in food, although worker exposure and exposure from the plant were very close, (2) chemical exposure was from accidents in the plant, (3) coal was from harmful effects of mercury on wildlife, (4) hydro was from contamination of drinking water, (5) solar was from harmful UV radiation exposure in wildlife, (6) wind was from mortality of birds due to wind turbines, and (7) gas was from harmful gas exposure to wildlife. Overall, the highest rated features in terms of worry (four of seven energy forms) were for wildlife. The survey population believed that wind, solar, tidal, and hydro power should be developed further, and coal should be developed the least.