Rose effect and the euro: is the magic gone?

This paper presents an updated meta-analysis of the effect of currency unions on trade, focusing on the euro area. Using meta-regression methods such as the funnel asymmetry test, evidence for strong publication bias is found. The estimated underlying effect for currency unions other than the eurozone reaches more than 60%. However, according to the meta-regression analysis, the euro’s trade promoting effect corrected for publication bias is insignificant. The Rose effect literature shows signs of the economics research cycle: reported t-statistic is a quadratic concave function of the publication year. Explanatory meta-regression (robust fixed effects and random effects), that can explain about 70% of the heterogeneity in the literature, suggests that results published by some authors might consistently differ from the mainstream output and that study outcomes are systematically dependent on study design (usage of panel data, short- or long-run nature, number of countries in the data set).     

Strategic partnering in Eastern Europe

There are alternatives to the much-touted “joint venture” in Eastern Europe. Some of these, such as licensing and cooperation agreements, have actually been available for some time. Others, like wholly owned subsidiaries, mergers, and acquisitions, are in the early stages of development. Clearly, the pace of reform indicates it is time to rethink the conventional wisdom on corporate development in Eastern Europe.     

Managing the Monetary Consequences of Reserve Accumulation in Emerging Asia

Abstract

The huge increase in international reserve holdings by Asian countries since the 1997 crisis has been one of the most important recent developments on the international financial scene. These buildups have contributed substantially to concerns about the creation of excessive global liquidity. How justified these concerns are depends heavily on the extent to which the reserve accumulating countries have been able to sterilize the effects on their domestic monetary aggregates. We use a unified theoretical framework to undertake dynamic estimations of the magnitude of sterilization and offset coefficients (which measure the degree of capital mobility) for a large set of Asian economies. We find that despite substantial capital mobility there has been a high degree of effective sterilization to date.     

Custom-built

Mass customization has rapidly moved from an abstract theory to a practical source of competitive advantage. Fabrizio Salvador has been studying the companies that have bolstered their business by tapping into the idiosyncratic needs of customers. Tom Brown reports on his latest thinking.     

HR in the small business enterprise: Assessing the impact of PEO utilization

Within small businesses, organizational leaders are themselves often responsible for the HR function, an area where they typically have limited training and experience. Not surprisingly, small business leaders have raised concerns about the quality of HR programs in their firms and the fact that HR consumes scarce managerial time. While professional employer organizations (PEOs) emerged in response to such concerns, much controversy exists as to whether and how small businesses benefit from PEO utilization. Using a survey of more than 740 small businesses, we examine the relationship between PEO utilization and two key small business outcomes: managerial time required by HR activities and satisfaction with HR outcomes. Our results indicate that firms not using a PEO reported significantly lower levels of satisfaction with HR outcomes than firms that used a PEO for a limited set of transactional services and firms that used a PEO for both transactional and strategic HR services. Among firms using a PEO, satisfaction with HR outcomes was significantly higher among firms that obtained a broader set of transactional and strategic HR services. Firms that used a PEO also reported that HR consumed significantly less managerial time relative to leaders in firms that made no use of a PEO. However, there was no significant difference in the time demanded by HR between firms that used a limited set of transactional services and those that used a broader range of transactional and strategic services. Implications for the role of PEOs and their use within small businesses are discussed. © 2005 Wiley Periodicals, Inc.     

The Meaning of Applied Creativity in the Culinary Industry

ABSTRACT

The purpose of this article is to present a study which explores the origin of applied creativity in the culinary industry, in Taiwan. A total of 36 Chinese and Western cuisine chefs from five-star hotels and top restaurants were interviewed to provide the data from this study. The findings indicate that the role of applied creativity in the culinary industry has played a key role in culinary change and evolution in Taiwan. Culinary creativity has its own distinct characteristics, such as time limitations and market acceptance, which are acquired through building blocks of professional skills and experience. The study contributes to understanding the role of applied creativity in the culinary industry.     

Working the skies: Changing representations of gendered work in the airline industry, 1930–2011

The influence of the media, whether print, celluloid or contemporary electronic, on life and career choices, particularly from a gender perspective is well documented. Indeed, the power of today’s e-media imagery has, arguably, a more ubiquitous influence on such decisions than was in the case for previous generations. However, both traditional print and more contemporary media influencers remain important and, therefore, gaining an understanding of their role in the representation of gendered work, both historically and in a modern context, is of considerable value. Working in the sky, whether as a pilot or member of the cabin crew, continues to hold a fascination and attraction for potential entrants that far exceeds the technical demands or financial rewards of the reality of such work. Perceived as ‘glamorous’ work since the early days of commercial flight in the 1930s, this tag has largely remained, despite major changes to the business and workplace environment in the intervening years. Commercial aviation is an area of work that has inspired a genre of influential romantic literature and numerous ‘real-life’ recollections alongside serious academic analysis. This paper charts the representation of, in particular, female flight attendant work from its ‘golden era’ through to the present context where the influence of the low-cost airline model has radically impacted upon the working environment within the sector. The discussion focuses on the broad ‘genre’ of airline-related employment literature, drawing on romantic, comic and biographical accounts alongside sources that address this theme from academic/research perspectives, in order to ask whether contemporary representation is any more a true reflection of this work than that during previous generations. In undertaking this analysis, this paper draws upon the role and career representation literature, particularly with respect to embodied and gendered work.