Efficient risk sharing,non-marketable labor income and fixed-wage contracts

This paper seeks to explain fixed-wage labor contracts. The traditional rationale that fixed wages represent an implicit sale of ‘wage insurance’ by risk-neutral firms to risk-averse workers is rejected as being incompatible with the fact that firms are owned by risk-averse investors. Instead, it is shown that fixed-wage contracts might arise from the non-marketability of labor income. When human capital is not marketable, it becomes optimal to shift all the risk in production onto the firm, since trading in equity markets enables efficient allocation of the uncertainty. The fixed-wage contract shifts the risk to equity owners and in fact replicates the first-best equilibrium that would emerge if individuals were paid their realized marginal product and allowed to trade shares in human capital.     

特别的商贸展 商贸站上的照明标志——以及它们的特殊要求

商贸展有它自己的规则。那些准备参展的公司经常自己设计、策划和建造他们的展台、但是,大多数情况下,他们还会借助广告公司和招牌公司来设计并打造它们。设计一个成功的商贸展台需要许多做很多不同的工作,而且,由于空间有限,我将集中介绍一些照明方面的知识,特别是商贸展上的照明标志设计和结构。     

霓虹101 给新手的霓虹标识基础知识

从历史上来看,当在经济萧条时期或战争末期市场上充斥着“新过时“的人力资本时,人们会开始寻求新的机会。在目前的经济环境下,有些人可能会尝试标识这一行业。制作标识,尤其是霓虹灯招牌,并不是件轻松的事。然而,我却认识不少霓虹灯匠和标识制作者在这个行业中找到了宁静     

Highlighting the Darker Side of Liberal Internationalism for a Counter-Colonizing Consumerism

By embracing counter-colonialism at large, this article challenges the subordination and eventual complicity of management and marketing studies with the dark(er) side of liberal internationalism pasts. We show how the official history of consumerism in marketing overlooks important events related to the US liberal internationalism project during and before the Cold War period, which are closely associated by other areas of knowledge in the United States with the hegemonic plans of the United States in becoming the sole global power in the post-World War II, at the expense of the Third World movement that aimed to bring independence to the Global South.     

‘Green’ Human Resource Benefits: Do they Matter as Determinants of Environmental Management System Implementation?

This article analyses whether benefits arising for human resource management from environmental management activities drive environmental management system implementation. Focusing on employee satisfaction and recruitment/retention, it tests this for German manufacturing firms in 2001 and 2006 and incorporates a rare longitudinal element into the analysis. It confirms positive associations of the benefit levels for both variables with environmental management system implementation on a large scale. Also it provides evidence that increasing levels of environmental management system implementation result from higher economic benefits in the human resource domain. In doing so the article supplies needed quantitative evidence on important aspects of how sustainability relates to human resource management.     

Grit and self-employment: a multi-country study

Blending the literatures on grit and self-employment, we propose the role of grit in separating the self-employed from the employed. Based on a sample of 13,210 respondents from nine countries, our results indicate that not only is grit related to self-employment, but also grit is more strongly related to self-employment for risk-takers, females, and younger individuals. The findings are robust, controlling for several individual characteristics and alternate specifications, and have implications for the broader literature on self-employment.     

Transfer Pricing for the Rest of Us

Transfer pricing is a frequently discussed but often misunderstood aspect of international business. This article describes what it is, its legitimate functions in accounting for international intra-firm transactions, and its use by corporations for tax optimization. However, there may be mitigating factors that make efforts to optimize taxes more apparent than real. The issues of transfer pricing require sophisticated economic analysis for understanding and resolution, particularly as they relate to the internal and external pricing environment faced by a firm and the principles of profit allocation among different parts of a firm.