Time preference and capital asset pricing models

Results of the theory of individual optimal consumption-investment choice under uncertainty are extended to a class of intertemporally dependent preferences for consumption streams. These results are then used to show that with intertemporally dependent preferences, which are more realistic than the separable time-additive preference structure, Merton's (1973) multi-beta intertemporal capital asset pricing model is still valid, but it can no longer be collapsed to Breeden's (1979) single consumption-beta model.     

Supply risk management under imperfect competition — Empirical applications to the Swedish pulp and paper industry

The authors acknowledge research support from the Non-Industrial Private Forest Owner's Fund for Forest Research, and statistical guidance from Professor Bo Ranneby.     

The HRM Process Approach: The Influence of Employees’ Attribution to Explain the HRM‐Performance Relationship

In an experimental study and a field study, we studied whether high‐commitment human resource management (HC‐HRM) is more effective when employees can make sense of HRM (attribute HRM to management). In the experimental study (n = 354), employees’ HC‐HRM perceptions were evoked by a management case, and their attributions were manipulated with an information pattern based on the three dimensions of the covariation principle of the attribution theory: distinctiveness, consistency, and consensus. As expected, the results showed that the effect of HC‐HRM on affective organizational commitment was stronger when employees understood HRM as was intended by management. This experimental finding was confirmed in a cross‐level field study (n = 639 employees within 42 organizations): the relationship between HC‐HRM, on one hand, and affective organizational commitment and innovative behavior, on the other hand, was stronger under the condition that employees could make sense of HRM. © 2015 Wiley Periodicals, Inc.     

Provoking identities: entrepreneurship and emerging identity positions in rural development

This article discusses entrepreneurship in a depleted community in transition. The purpose is to develop knowledge about how discourses are used in the positioning of identity in regional development. The concept positioning illustrates how identities are provoked, challenged, negotiated and moved into identity positions that break away from the idea of imitating successful and wealthy regions; instead, locality, place and history emerge as important resources from where local actors obtain agency and recognize new opportunities. Ethnographic data of a single case were collected over a six-year period between 2005 and 2010. The longitudinal nature of the study made it possible to incorporate how local stakeholders took on new identity positions, while handling their inspiration as well as their frustration. Results show how rural change was conditioned by discourses and how entrepreneurship challenged and reframed dominating structures through interaction between entrepreneurship and community. Four discourses, expressed as dichotomies available to people in this depleted community, illustrate the interactive process of positioning: change vs. traditions, rational vs. irrational, spectacular vs. mundane and individual vs. collective. The results support research emphasizing perspectives that acknowledge interaction between entrepreneurship and context as well as discursive aspects of regional development.     

Service quality and blood donors — a marketing perspective

The National Blood Service, celebrating their fast half century, have responded to the increasing need for blood with the launch of their biggest recruitment drive ever, targeted at young adults with the goal of encouraging a life‐time habit of giving blood. Prerequisites for improving the effectiveness of donor acquisition and retention strategies are to understand who gives blood, the motivations for giving and for defection as well as the reasons why the majority of eligible donors do not donate. A literature review of blood donor characteristics and motivations sets the contextual background to the field study of some 240 students at a British University and a conceptual model which depicts the behavioural chain of blood donorship is drawn. The implications for donor acquisition, retention and defection management are then outlined. Service quality, solicitation of donor's views and communication strategies are discussed and we conclude with proposals for further research.