Do interest groups affect US immigration policy?

While anecdotal evidence suggests that interest groups play a key role in shaping immigration policy, there is no systematic empirical analysis of this issue. In this paper, we construct an industry-level dataset for the United States, by combining information on the number of temporary work visas with data on lobbying activity associated with immigration. We find robust evidence that both pro- and anti-immigration interest groups play a statistically significant and economically relevant role in shaping migration policy across sectors. Barriers to migration are lower in sectors in which business interest groups incur larger lobbying expenditures and higher in sectors where labor unions are more important.     

Opportunities to Improve Entrepreneurship Education: Contributions Considering Brazilian Challenges

This paper identifies challenges and opportunities for enhancing higher education in entrepreneurship considering student perceptions concerning both their demand for entrepreneurship education and their entrepreneurial intention as well as previous studies that present the points of view of experts. The main focus is Brazilian higher education, but the results address challenges that cross borders, such as the need for a practical approach. The study analyzed the data from the Brazilian version of the 2011 Global University Entrepreneurial Spirit Students' Survey (GUESSS) obtained with an online questionnaire answered by 25,751 Brazilian students from 37 colleges and universities. To give a reference for a better understanding of Brazilian statistics, data were compared to those of the 2011 international GUESSS involving also 25 other countries and 64,079 responses from them. Three hypotheses were tested. The results show that entrepreneurship education has a significant negative effect on student entrepreneurial intention and also on self‐efficacy. The same occurs between entrepreneurial intention and students' demand for entrepreneurship education. Brazilian students present higher levels of entrepreneurial intention and are significantly more motivated to take courses and activities in entrepreneurship than those students in the international sample. Approximately 50 percent of Brazilian students are potential entrepreneurs. One of the opportunities identified is to take advantage of students' positive attitudes and their high demand. The opportunities could play an important role in overcoming the challenges recognized, among which are the need for a more practical approach and the need for larger and diversified educational offerings beyond business planning. The challenges make Neck and Greene's recommendations, presented in a 2011 issue of JSBM, particularly important for Brazil. The last three sections propose different explanations, suggestions for more research, and practical recommendations.     

The importance of atmospherics in the choice of hypermarkets and supermarkets

Are the atmospheric variables equally relevant for supermarket and hypermarket customers? As a contribution to the customers' choice of the store format, firstly this work aims to determine the perception of differences between hypermarkets and supermarkets in terms of store attributes. Second, it sheds light on the role played by atmospherics in the customers' decision process. This study uses a logit approach to model the probabilistic choice of the customers' store format using atmospheric and other marketing variables as important attributes of the grocery store. The model's estimation is based on personal interviews conducted during the shopping process in urban supermarkets and hypermarkets belonging to the same retail chain. The findings show that although the atmospheric variables are significantly important for both store formats, the customers perceive differently the importance of each retail atmospheric cue and other marketing variables, when buying in a hypermarket or in a supermarket: the choice of buying in hypermarket is explained by the significant importance given to the latent variables named pleasant atmosphere and accessibility and responsiveness; in contrast, the choice of buying in supermarkets is explained by the significant importance given to the latent variable nice decoration and empathy with the staff. The other latent variable designated by other marketing variables is only significantly important in the decision of choosing supermarkets.     

HIGH‐ORDER SHORT‐TIME EXPANSIONS FOR ATM OPTION PRICES OF EXPONENTIAL LÉVY MODELS

The short‐time asymptotic behavior of option prices for a variety of models with jumps has received much attention in recent years. In this work, a novel second‐order approximation for at‐the‐money (ATM) option prices is derived for a large class of exponential Lévy models with or without Brownian component. The results hereafter shed new light on the connection between both the volatility of the continuous component and the jump parameters and the behavior of ATM option prices near expiration. In the presence of a Brownian component, the second‐order term, in time‐t, is of the form , with d₂ only depending on Y, the degree of jump activity, on σ, the volatility of the continuous component, and on an additional parameter controlling the intensity of the “small” jumps (regardless of their signs). This extends the well‐known result that the leading first‐order term is . In contrast, under a pure‐jump model, the dependence on Y and on the separate intensities of negative and positive small jumps are already reflected in the leading term, which is of the form . The second‐order term is shown to be of the form and, therefore, its order of decay turns out to be independent of Y. The asymptotic behavior of the corresponding Black–Scholes implied volatilities is also addressed. Our method of proof is based on an integral representation of the option price involving the tail probability of the log‐return process under the share measure and a suitable change of probability measure under which the pure‐jump component of the log‐return process becomes a Y‐stable process. Our approach is sufficiently general to cover a wide class of Lévy processes, which satisfy the latter property and whose Lévy density can be closely approximated by a stable density near the origin. Our numerical results show that the first‐order term typically exhibits rather poor performance and that the second‐order term can significantly improve the approximation's accuracy, particularly in the absence of a Brownian component.     

Investigating the gap between citizens' sustainability attitudes and food purchasing behaviour: empirical evidence from Brazilian pork consumers

Consumers worldwide are increasingly concerned with sustainable production and consumption. Recently, a comprehensive study ranked 17 countries in regard to their environmentally friendly behaviour among consumers. Brazil was one of the top countries in the list. Yet, several studies highlight significant differences between consumers' intentions to consume ethically, and their actual purchase behaviour: the so‐called ‘Attitude‐Behaviour Gap’. In developing countries, few studies have been conducted on this issue. The objective of this study is therefore to investigate the gap between citizens' sustainability‐related attitudes and food purchasing behaviour using empirical data from Brazil. To this end, Brazilian citizens' attitudes towards pig production systems were mapped through conjoint analysis and their coexistence with relevant pork product‐related purchasing behaviour of consumers was investigated through cluster analysis. The conjoint experiment was carried out with empirical data collected from 475 respondents surveyed in the South and Center‐West regions of Brazil. The results of the conjoint analysis were used for a subsequent cluster analysis in order to identify clusters of Brazilian citizens with diversified attitudes towards pig production systems, using socio‐demographics, attitudes towards sustainability‐related themes that are expected to influence the way they evaluate pig production systems, and consumption frequency of various pork products as clusters' background information. Three clusters were identified as ‘indifferent’, ‘environmental conscious’ and ‘sustainability‐oriented’ citizens. Although attitudes towards environment and nature had indeed an influence on citizens' specific attitudes towards pig farming at the cluster level, the relationship between ‘citizenship’ and consumption behaviour was found to be weak. This finding is similar to previous research conducted with European consumers: what people (in their role of citizens) think about pig production systems does not appear to significantly influence their pork consumption choices. Improvements in the integrated management of this chain would better meet consumers' sustainability‐related expectations towards pig production systems.     

Corporate Social Responsibility as a Vehicle to Reveal the Corporate Identity: A Study Focused on the Websites of Spanish Financial Entities

This study explores the relevance of corporate social responsibility (CSR) as an element of the corporate identity of Spanish financial institutions. Specifically, it aims to analyze the CSR actions developed by financial entities through the analysis of all the available information disclosed in their websites. A content analysis applied to 82 banking institutions, followed by different quantitative analyses, reveals the multidimensionality of CSR. Findings show that, while the number of entities institutionalizing CSR values as core elements of their identities is still reduced, most organizations disclose CSR information to construct communicated identities and legitimate behaviours. Besides, these dimensions are classified depending on the stakeholder the action is aimed to, and that entities favour the generation of distinctive identities through the implementation and communication of more visible CSR actions like those involving their customers or the community. In any case, results indicate that organizations with certain characteristics are more likely to construct distinctive identities through CSR activities and to establish ethical and social values within their corporate statements and cultures.     

Impacts of technology readiness on emotions and cognition in Brazil

This study proposes and tests an extended model for consumer adoption of high technology products in a Latin American country (Brazil) by integrating concepts present in the consumer behavior literature: the Consumer Acceptance of Technology model (Kulviwat et al., 2007) and the technology readiness construct (Parasuraman, 2000). The proposed model considers the relationships between cognitive and affective constructs with technology readiness. By means of structural equation modeling conducted on a sample of 435 young consumers, the results indicate significant relationships between the constructs assessed, showing that consumers' cognitive and affective evaluations of new technologies are significantly influenced by their technology readiness. The effects of technology readiness over affective assessments were greater than those relative to cognitive evaluations regarding high-tech innovations. Nonetheless, the results may reflect specific characteristics of Brazilian (and other Latin American) consumers, who are usually more emotive than those of more rational cultures.     

Organizational learning: Proposal of an integrative scale and research instrument

This study describes the development and validation of an instrument to measure organizational learning. Starting out from a comprehensive analysis of the main organizational learning models in the specialized literature, the organizational learning scale in this study consists of 18 items forming five dimensions: the ontological levels of learning, modes of knowledge conversion, learning sub-processes, types of learning, and feedback and feed-forward flows of learning. A survey to large Spanish companies provides data from 167 companies. Confirmatory factor analysis tests the construct measurement model and validates the scale. The results of the study indicate that the scale satisfies the criteria for reliability, and validity. The exploratory factor analysis permits the identification of four factors which make theoretical sense: information systems, the existence of a framework for consensus, procedures for the institutionalization and broadening of knowledge, and forms of management and the genesis of knowledge. The new construct promises to be more comprehensive, integrative and eclectic than previous constructs, achieving its broad scope by incorporating a number of the main theoretical perspectives on the matter. For practitioners, the scale could form the basis of an auditing tool, as well as being a useful target for organizational change initiatives.