Natural resource endowments and the domestic revenue effort

We examine whether there is evidence of an offset between government revenues from hydrocarbon (oil and gas) related activities and revenues from other domestic sources in a panel of 30 hydrocarbon producing countries. Our main finding is that there is an offset of about 20%, which is robust to the inclusion of control variables, the exclusion of outliers, and alternate estimation methodologies. While the impact of the offset on long-term development prospects is not clear, there is a risk of significant adjustment costs in moving to a higher level of domestic taxation once natural resources are depleted.     

兼并完，但别让队伍整合“完蛋”了

完全可以肯定：企业的合并充满挑战性。但即便如此，它们仍然可以为企业组织提供变革的可能性。为了确保收入增长和实现合并行动所承诺但往往无法实现的价值，最大的变革之———销售队伍的整合——是企业的首要任务。     

An empirical investigation of the effect of imputation credits on remittance of overseas dividends

Overseas dividend remittance is an important vehicle for multinational corporations (MNCs) to move funds among their global subsidiaries. Using firm-level data from 2001 to 2004 for Taiwan-based MNCs with subsidiaries in China, this paper provides empirical evidence on the effect of imputation credits on overseas dividend remittances. We find that imputation credits have a positive effect on increasing foreign dividend payouts, thereby reducing the efficiency loss induced by the tax cost for within-firm dividends of MNCs. We also document evidence that parent companies’ net fund flows from related-party transactions with their subsidiaries are negatively correlated with dividends repatriated from those affiliates, supporting the notion that transfer-pricing may be substituting for within-firm dividend remittance. Our results contribute to understanding the links between taxation and related-party transactions and subsidiary dividend repatriation decisions of MNCs.     

Exploring the role of the spouse in expatriate failure: a grounded theory-based investigation of expatriate' spouse adjustment issues from India

This paper applied the grounded theory method in a study of the expatriates' spouses' relocation adjustment process and the impact of such adjustment problems in expatriate failure. A qualitative enquiry approach using open-ended questions in the form of personal interviews was adopted. Iteratively, the questions were changed to reach theoretical saturation and we allowed the respondents to lead us through the data collection process during our eventual theory development process. An action diagram technique was used to help structure and process the data. The study was conducted with 26 Indian origin spouses who had to encounter relocation issues one time or the other. We found the spouses' perceived gender role ideology to play a critical part in their adjustment process. Other factors that influenced the adjustment process in expatriate assignments were personality factors such as extraversion, organizational and family support, country demographics and pre-departure training.     

Joint probability distributions concerning a sequence of symmetric Bernoulli trials

Abstract

Two consecutive trials in a sequence of trials would yield one of the four patterns SS, SF, FF and FS, where S stands for success and F stands for failure. In the context of brand choice process under Bernoulli Model (Wierenga, 1974) SS and FF imply continuation with the same brand and SF and FS imply brand switching. Thus, a study of the probability distributions concerning these patterns assumes importance in the development and evaluation of marketing strategies towards the promotion of sales by the producer of a particular brand. Restricting ourselves to the case of Symmetric Bernoulli Trials (SBT), viz., the probability of success (and, therefore, of failure) at any trial is 1/2, we obtain in this paper, generating functions for the various tri-nomial distributions that arise by considering two of the four patterns mentioned above. We obtain these results by developing, at the first instance, the difference equations that connect the relevant probability functions (Uspensky, 1937, Bizley, 1957 and Feller, 1968). Some of the known results (Sabharwal, 1969), are obtained as a particular case of the new results.     

Comparative performance appraisal practices and management values among foreign and domestic firms in India

Countering culture-based analyses indicating homogeneity in Indian management practices, this empirical study compares performance appraisal practices and management values in India by firm ownership. Differences in Indian private investor corporations, public sector enterprises, foreign/joint ventures and private family businesses are examined to assist managers to adapt selectively to firms in the changing Indian economy. Theoretical and managerial implications, as well as future directions for research are discussed.     

Red,blue, and purple firms: Organizational political ideology and corporate social responsibility

Research summary : Why do firms vary so much in their stances toward corporate social responsibility (CSR )? Prior research has emphasized the role of external pressures, as well as CEO preferences, while little attention has been paid to the possibility that CSR may also stem from prevailing beliefs among the body politic of the firm. We introduce the concept of organizational political ideology to explain how political beliefs of organizational members shape corporate advances in CSR . Using a novel measure based on the political contributions by employees of Fortune 500 firms, we find that ideology predicts advances in CSR . This effect appears stronger when CSR is rare in the firm's industry, when firms are high in human capital intensity, and when the CEO has had long organizational tenure . Managerial summary : Why do firms vary in their stances toward corporate social responsibility (CSR )? Prior research suggests that companies engage in CSR when under pressure to do so, or when their CEOs have liberal values. We introduce the concept of organizational political ideology, and argue that CSR may also result from the values of the larger employee population. Introducing a novel measure of organizational political ideology, based on employees' donations to the two major political parties in the United States, we find that liberal‐leaning companies engage in more CSR than conservative‐leaning companies, and even more so when other firms in the industry have weaker CSR records, when the company relies heavily on human resources and when the company's CEO has a long organizational tenure . Copyright © 2016 John Wiley & Sons, Ltd.     

Empirical organizational‐level examinations of agency and collaborative predictions of performance‐contingent compensation

Competitive predictions regarding the relationships between: (a) monitoring and agent tenure, and (b) performance‐contingent compensation are derived from agency theory and collaborative perspectives. These results are tested in a within‐industry (trucking) sample and in a cross‐industry sample. The results partially support both perspectives, particularly with respect to monitoring and agent tenure. Implications of the results for theory and practice are discussed. Copyright © 2000 John Wiley & Sons, Ltd.     

International comparison of returns from conventional,industrial and 52-week high momentum strategies

The performance of industrial and 52-week high momentum strategies is compared to the conventional strategy, using a large sample of stocks drawn from multiple countries covering a quarter of century to 2007. The sample of 51,879 stocks in 51 countries removes the potential for criticism, such as data mining, and provides more generalisable findings and knowledge concerning the robustness and usefulness of return from momentum strategies. Both the industry and 52-week high strategies generate positive returns but neither is greater than the conventional momentum strategy. A new 52-week high industry momentum strategy is examined and it achieves a similar result.     

Are short‐term effects of pollution important for growth and optimal fiscal policy?

We study optimal fiscal policy in a stock‐flow model of the environment within an endogenous growth framework, where some pollutants have a lasting impact on environmental quality which is restored through abatement expenditure, while others dissipate and hence, have a short‐term effect on the environment. All pollutants, however, affect the productivity of a public good negatively. Given that short‐term pollution, although it dissipates, is irreversible in this sense, a government cannot ignore its negative effects since this type of pollution lowers the productivity of all inputs. We find that a larger negative effect of short‐term pollutants as well as a higher congestion effect of private capital leads to corrective fiscal policies with higher optimal income tax and abatement expenditure rates, which have favorable growth consequences. Interestingly, we find that the rate of short‐term pollution does not affect optimal fiscal policy while that of the long‐term pollution does.