A Study on the Productivities of IT Capital and Computer Labor: Firm-level Evidence from Taiwan’s Banking Industry

The current paper extends the non-neutral stochastic frontier production function—which belongs to the class of a one-step procedure as defined by Wang and Schmidt (2002) and developed by Huang and Liu (1994)—from a cross-sectional setting to a panel data modeling. Using a newly-surveyed dataset from Taiwan’s commercial banks on their investments in information and communication technologies (IT), I find that IT capital and computer labor tend to exhibit higher productivities than their non-IT and non-computer counterparts, that IT capital has positive impacts on the marginal productivities of computer labor and borrowed funds, and that the mean technical efficiency is around 87.7%. Evidence is found that the total factor productivity of the banking sector grew at an average rate of 0.28% per annum, albeit fluctuating, for the past 8 years.     

Experimenting with Supply Chain Learning (SCL): Supplier Diversity and Ethnic Minority Businesses

This paper reports on an innovative UK-based ‘Supply Chain Learning’ (SCL) initiative to encourage the corporate sector to consider supplier diversity in respect of ethnic minority businesses. This follows academic and policy interest in programmes to empower ethnic minority enterprises to achieve breakout to mainstream markets and business growth. The first phase of the initiative, entitled Supplier Development East Midlands (SDEM) is examined. By adopting an inter-organisational action learning approach, some of the key attributes of the programme are delineated, focusing on the recurrent action-reflection cycle taking place in a learning group comprising SDEM, LPOs (Large Purchasing Organisations) and small EMSs (Ethnic Minority Suppliers).     

Synergies and price trends in sequential auctions

In this paper we consider sequential second-price auctions where an individual's value for a bundle of objects is either greater than the sum of the values for the objects separately (positive synergy) or less than the sum (negative synergy). We show that the existence of positive synergies implies declining expected prices. When synergies are negative, expected prices are increasing. There are several corollaries. First, the seller is indifferent between selling the objects simultaneously as a bundle or sequentially when synergies are positive. Second, when synergies are negative, the expected revenue generated by the simultaneous auction can be larger or smaller than the expected revenue generated by the sequential auction. In addition, in the presence of positive synergies, an option to buy the additional object at the price of the first object is never exercised in the symmetric equilibrium and the seller's revenue is unchanged. Under negative synergies, in contrast, if there is an equilibrium where the option is never exercised, then equilibrium prices may either increase or decrease and, therefore, the net effect on the seller's revenue of the introduction of an option is ambiguous. Finally, we examine a special case with asymmetric players who have distinct synergies. In this example, even if one player has positive synergies and the other has negative synergies, it is still possible for expected prices to decline.Received: 12 December 2000, Accepted: 1 May 2002, JEL Classification: D44Flavio Menezes acknowledges the financial support from ARC (Grant A000000055) and CNPq. Monteiro acknowledges the financial support from CNPq and the hospitality of CERSEM where part of this paper has been written. We thank Richard Engelbrecht-Wiggans, Peter Sørensen and two anonymous referees for useful comments.     

Discrete discrepancy in factorial designs

Discrepancy measure can be utilized as a uniformity measure for comparing factorial designs. A so-called discrete discrepancy has been used to evaluate the uniformity of factorials. In this paper we give linkages among uniformity measured by the discrete discrepancy, generalized minimum aberration, minimum moment aberration and uniformity measured by the centered L₂-discrepancy/the wrap-around L₂-discrepancy. These close linkages provide a significant justification for the discrete discrepancy used to measure uniformity of factorial designs.     

Legal Protection From Discrimination Based on Sexual Orientation: Findings From Litigation

Since 1964 with the enactment of Title VII of the Civil Rights Act, the courts have held that although Title VII prohibits discrimination because of sex, sex has been construed to mean gender, but gender and sexual orientation are different. Traditionally sexual discrimination has been interpreted to protect women in male/female encounters. Thus protection for homosexuals based on sexual orientation has not been covered. However, there are some interesting aspects to the concept of discrimination due to sexual orientation, including defining same-sex harassment as being harassment, equal opportunity harassment, and sexual stereotypes. In addition, how homosexuals may be protected under state laws, unions, company policy, and the constitution is discussed as well as protection for public sector employees. An analysis of 98 litigated cases alleging discrimination based on same sex or sexual orientation harassment led to the development of a logit model predicting future case outcomes based on case characteristics. These are type of harassment, physical contact, type of employees, and whether there was equal opportunity harassment. Implications from the study are that the issues of protection from discrimination are complex and one cannot necessarily assume that this type of discrimination is not protected. Recommendations for more effective managerial actions are provided.     

The Arbitration of Labor Disputes in China Today: Definition and Implications

Over the past 12 years China has strongly encouraged the use of a formalized arbitration process to resolve, among other conflict areas, labor disputes. Using a formal resolution process is meant to calm labor unrest by giving employees both individual and collective voices in workplace issues. Ultimately, China recognizes that, as did the United States with passage of the National Labor Relations Act, giving employees voice quells potential social revolution and helps business by making use of employee ideas while attracting the best employees. This paper discusses some history of the Chinese labor dispute resolution process and its specific provisions promulgated in two laws and a set of regulations. Strengths and weaknesses of the process are enumerated and the importance of the process to foreign investors, employers, and employees is laid out.     

Corporate Governance: A Critical Survey of Key Concepts,Issues, and Recent Reforms in the US

This paper critically surveys basic corporate governance concepts and theories, assesses recent international empirical support of theories, and analyzes the impact of major, recent corporate governance reforms in the US. Comparing representative economies identifies the essential features of different corporate governance systems. Therefore, the corporate governance structures of a few countries (England, US, Germany, and Japan) are explored. In second part of the paper, some emergent issues of corporate governance such as the impact of block holders and emergent market regulatory changes are assessed. Finally, the effectiveness of the Sarbanes-Oxley act is evaluated.     

A Note On Long Memory Time Series

This note presents the fractional integrated processes which are the main models used to describe long memory phenomena.¹ Section 1 briefly defines the concept of fractional integration, shows the fundamental properties and provides a short summary of the estimation methods. Section 2 consists of a survey of their extensions in order to model long-term cycles.     

Unternehmenskultur und Unternehmenserfolg: Stand der empirischen Forschung und Konsequenzen für die Entwicklung eines Messkonzeptes

Im Rahmen einer übergreifenden Analyse empirischer Arbeiten wird der State-of-the-Art der Forschung zum Zusammenhang von Unternehmenskultur und Unternehmenserfolg dargelegt. Neben der inhaltlichen Analyse des Zusammenhangs liegt der Schwerpunkt des nachfolgenden Beitrags auf einem Review der Messung von Unternehmenskultur und Unternehmenserfolg, wie sie sich in den betrachteten Zusammenhangsanalysen zeigt. Aufbauend hierauf werden die Grundzüge je eines Konzeptes zur Messung der Unternehmenskultur und des Unternehmenserfolges entwickelt, welche als Ausgangsbasis verstanden werden k?nnen, um in weiterführenden Untersuchungen den Zusammenhang von Unternehmenskultur und Unternehmenserfolg für die unterschiedlichsten Unternehmen zu bestimmen.     

DEA and Dynamic Yardstick Competition in Scandinavian Electricity Distribution

Multi-period multi-product regulatory schemes for electricity distributors are presented, based on cost information from a productivity analysis model and an agency theoretical decision model. The proposed schemes are operational and demonstrate considerable advantages compared to the popular CPI-X revenue cap regulation. The schemes avoid arbitrariness, excessively high or negative informational rents as well as ratchet effects and they promote rapid productivity catch-up by making full use of available data. More generally, the paper contributes to the theoretical unification between firm-based Data Envelopment Analysis (DEA) productivity models and micro-economic reimbursement theories.JEL Classification: D24, D82, L12, L51, L94