Computing maximin efficient experimental designs using the methods of semidefinite programming

In the paper, we solve the problem of computing the maximin efficient design with respect to the class of all orthogonally invariant criteria. It turns out that on a finite experimental domain, the maximin efficient design can be computed by the methods of semidefinite programming. Using this approach, we can deal with the non-differentiability inherent in the problem, due to which the standard iterative procedures cannot be applied. We illustrate the results on the models of polynomial regression on a line segment and quadratic regression on a cube.     

The Conundrum of Fundraising in Nonprofit Organizations: A Story from Ireland

Nonprofit organizations need to engage in fundraising as resource‐dependent organizations. There is, however, a conundrum that arises in the practice of fundraising. Nonprofit organizations rely on their trustworthiness to attract resources. At the same time, however, they need to manage and negotiate the tensions that can arise from being perceived as overly concerned with the taint of money and financial matters and, therefore, moving too far from their voluntary or nonprofit roots. In this article, we argue that such a conundrum has had a negative impact on the effectiveness of the fundraising effort in Ireland because it is primarily seen to be a volunteer activity. In addition, organizations are not investing in their marketing effort and are not developing practice, which, in turn, is leading to a lack of development in the profession of fundraising.     

Bank market power and the intensity of borrower discouragement: analysis of SMEs across developed and developing European countries

Small Business Economics - This paper analyzes the effect of bank market power on the financial constraints of small and medium-sized enterprises (SMEs) through the study of borrower...     

The evolution of world trade from 1995 to 2014: A network approach

This paper employs network analysis to study world trade from 1995 to 2014. We focus on the main connective features of the world trade network (WTN) and their dynamics. Results suggest that countries’ efforts to attain the benefits of trade have resulted in an intertwined network that is increasingly dense, reciprocal, and clustered. However, these features do not correspond to a linear aggregation of the characteristics of its constituents (trade sectors). Trade linkages are distributed homogeneously among countries, but their intensity (i.e. their value) is highly concentrated in a small set of countries. The main connective features of the WTN were not affected by the 2007–2008 international financial crisis. However, we find that the crisis marks a turning point in the evolution of the WTN from a two-group (led by the US and Germany) to a three-group (led by the US, Germany, and China) hierarchical structure.     

Evidence of different models of socially responsible HRM in Europe

Socially responsible human resource management (SR‐HRM) is becoming increasingly important for academics and managers. The interface between HRM and corporate social responsibility (CSR) is the subject of analysis in this article. It adopts a contextual perspective to analyze whether the institutional context influences the implementation of socially responsible HRM (SR‐HRM). Considering the differences in the national institutional contexts across Europe, this study explores the different models of SR‐HRM in that region. The research is focused on a sample of 153 companies headquartered in Germany, Spain, Sweden, and the United Kingdom. The findings evidence the influence exerted by the national institutional context on the implementation of SR‐HRM. Differences among country clusters suggest the existence of different models of SR‐HRM in Europe. However, these models do not correspond to the blocks on HRM or on CSR identified by the literature but instead provide a novel categorization.     

War and economy. Rediscovering the eighteenth-century military entrepreneur

Abstract

The detrimental effects traditionally assigned to warfare in the development of pre-industrial economies have obscured the prominent role that military entrepreneurs played in economic development in this period. Historiography minimises the extent to which war and the concomitant strengthening of the central state provided a whole new range of opportunities for capital investment, a tendency that has been strengthened by the paradigm of Redlich’s ‘decline of the soldier-entrepreneur’ and the technological determinism of the debate on the Military Revolution among others. The aim of this introduction is to look into the background of this relative lack of interest and to reaffirm the mutual dependence of eighteenth-century state-formation and the business of war.     

Framing Sustainable Consumption in Different Ways: Policy Lessons from Two Participatory Systems Mapping Exercises in Hungary

Sustainable consumption as a complex phenomenon at the boundaries of different (ecological, economic, social) systems requires theoretical approaches that do justice to its complex causality and dynamism. Participatory systems mapping offers a tool to achieve this purpose. Its policy relevance lies in its ability to include diverse views, multiple actors, and offer options for policy intervention. The research reported here applied participatory systems mapping in order to define and identify system boundaries for sustainable consumption and uncover perceived causal relationships among the determining factors of sustainable consumption. By revealing the mental models of an expert and a conscious consumer panel on sustainable consumption in general, we can shed light on the cognitive constructions of sustainable consumption and identify most important boundaries that were chosen and their implications on policy-making. The expert panel framed the boundaries as lack of sustainable consumption, while the conscious consumer panel employed a positive framing as strong communities in sustainable consumption. The two panels also differed in their focus on scale: Experts targeted the national scale, while conscious consumers concentrated at the local scale.     

Characterization of the Row Geometric Mean Ranking with a Group Consensus Axiom

An axiomatic approach is applied to the problem of extracting a ranking of the alternatives from a pairwise comparison ratio matrix. The ordering induced by row geometric mean method is proved to be uniquely determined by three independent axioms, anonymity (independence of the labelling of alternatives), responsiveness (a kind of monotonicity property) and aggregation invariance, which requires the preservation of group consensus, that is, the pairwise ranking between two alternatives should remain unchanged if unanimous individual preferences are combined by geometric mean.     

A multivariate distance nonlinear causality test based on partial distance correlation: a machine learning application to energy futures

This paper proposes a multivariate distance nonlinear causality test (MDNC) using the partial distance correlation in a time series framework. Partial distance correlation as an extension of the Brownian distance correlation calculates the distance correlation between random vectors X and Y controlling for a random vector Z. Our test can detect nonlinear lagged relationships between time series, and when integrated with machine learning methods it can improve the forecasting power. We apply our method as a feature selection procedure and combine it with the support vector machine and random forests algorithms to study the forecast of the main energy financial time series (oil, coal, and natural gas futures). It shows substantial improvement in forecasting the fuel energy time series in comparison to the classical Granger causality method in time series.     

When deeds speak,words are nothing: a study of ethical leadership in Colombia

Using a sample of 124 managers and 248 subordinates, this study examines the mediating effect of subordinates’ job satisfaction in the relationship between ethical leadership and subordinate organizational citizenship and counter‐productive work behaviour in the Colombian context. We additionally analyse the effect of ethical leadership on subordinates’ perception of leaders’ performance. Factor analyses of the ethical leadership scale revealed two factors, ethical person (EP) and ethical guidance (EG), which were differentially associated to the outcomes. We offer an explanation from three cultural dimensions (in‐group collectivism, institutional collectivism, and power distance) by which Colombian employees seem to be more willing to follow leaders’ ethical example as a way to strengthen their membership to the leader's group, than leaders ethical disciplining by which norms are imposed. These findings have a number of implications for organizations and managers who aim to improve their employees’ behaviour. Our advice to them is that leaders’ deeds have a greater impact than their ethical words.