Voting Rights and Market Reaction to Dual Class Common Stock Issues

This paper examines the return of the original class of common stock around the announcement of the creation of a second class of stock. As in previous studies, this one finds a generally ambiguous market reaction on the first public announcement. However, this paper offers new evidence that both the voting rights and the compensation for loss of voting rights are important determinants of the market's reaction. Specifically, it demonstrates that a second class stock issue that contains no compensation for the lost voting rights results in negative returns. When the original stockholders are compensated for lost voting rights, they experience positive abnormal returns.     

The Internet, Intel and the Vigilante Stakeholder

The Internet furore over Intel's flawed Pentium chip provides an important case study of the ethical ambiguity of internet communications and the legitimacy of certain forms of "electronic activism". Joseph Badaracco, Jr., is John Shad Professor of Business Ethics at the Harvard Business School and his co-author is a former Research Associate at Harvard and currently on the editorial staff of Inc . magazine.     

AN EVALUATION OF PROCESS‐ORIENTED SUPPLY CHAIN MANAGEMENT FRAMEWORKS

Supply chain management (SCM) is implemented by integrating corporate functions using business processes within and across companies. Several process‐oriented frameworks for SCM have been proposed but only two of these provide sufficient detail to enable implementation. We evaluate the Supply‐Chain Operations Reference (SCOR) framework and The Global Supply Chain Forum (GSCF) framework using four criteria and identify their relative strengths and weaknesses.     

The Impact of Cannabis Use on Health

Summary Chronic daily cannabis use has been shown to have long term harmful health effects, which in turn is expected to reduce labour market productivity. The evidence is less clear on the health impact of less frequent consumption, which is the more typical mode of use, and previous empirical studies fail to find robust evidence of an adverse impact of these modes of use on labour market productivity. This paper attempts to shed some light on this issue by directly estimating the impact of cannabis consumption in the past week and past year on health status using information on prime age individuals living in Australia. We find that cannabis use does reduce self-assessed health status, with the effect of weekly use being of a similar magnitude as smoking cigarettes daily. Moreover, we find evidence of a dose-response relationship in the health impact of cannabis use, with annual use having roughly half the impact of weekly use.Helpful comments on an earlier draft were received from Jan van Ours, Rosalie Pacula, two anonymous referees and participants at the 81st Annual Conference of the Western Economic Association International.     

浅谈落后山区人才现状及其对策

当今世界,人才资源已成为最重要的战略资源,人才不仅在国际竞争中越来越具有决定性意义,而且在国内竞争中也发挥着愈来愈重要的作用。从某种意义上讲,区域经济的竞争实际上就是人才的竞争。一个地区经济越发达,集聚的人才也就越多,而人才集聚得越多,也就越能促进当地发展。改革     

The right cure for health care

An aging population with nearly unlimited access to high-priced doctors and technology is pushing medical costs skyward. Managed care is the best way to bring them down.     

Struggling to save our kids

Many more than ever face the crises of childhood: violence, drugs, bad schools, poverty, divorce, or two parents at work. And no one seems to care.     

Integration of collective bargaining and formal worker participation processes: Boon or barrier to worker rights?

Many employers are extending workplace rights by allowing for more employee voice in decision making. Numerous unionized organizations have established formal worker participation processes to help achieve this end and to improve organizational performance. Based largely on theory, such processes are normally designed to operate independently from the bargaining process. The purpose of this study was to examine the relationship between participation and bargaining processes, and the effect of this relationship on workplace satisfaction. A total of 712 Midwest union officials were surveyed, and the results indicate that the processes tend to become integrated in the workplace. Further, union officials' workplace satisfaction was greater where formal worker participation is institutionalized within the bargaining process.     

Legalistic organizational responses to catastrophic illness: The effect of stigmatization on reactions to HIV/AIDS

The HIV/AIDS epidemic has focused increased attention on catastrophic illnesses in the workplace, and because of the stigmas associated with HIV/AIDS, it raises three primary concerns for organizations: (1) organizational avoidance of legal sanctions and litigation; (2) the maintenance of organizational legitimacy; and (3) organizational protection of employee rights. Although many organizations adopt legalistic responses to cope with these concerns, the analysis presented in this article suggests that while legalistic approaches function well to protect organizational interests in terms of both legal liability and legitimacy, the are only partially able to protect employee rights. Drawing upon the limited literature on HIV/AIDS in the workplace, this article presents an agenda for future research on organizational responses to HIV/AIDS.