Return on Investment from Training Programs and Intensive Services

This study includes the likelihood of finding a job and retaining employment as well as eligibility for unemployment benefits to estimate the return on investment (ROI) for both job training and intensive services programs. The augmented ROI for job training programs and intensive job services from California One-Stop Centers are positive. This suggests that these programs do provide benefits. The estimated augmented ROI for individuals enrolled in job training programs and intensive job services are similar. In contrast, traditional approaches that omit important employment characteristics significantly overestimate the ROI. Monte Carlo simulations show that changing program costs affect the augmented ROI for training programs but have minimal impact on the augmented ROI for intensive services.     

Do Multiple Directorships Increase Firm Value? Evidence from Independent Directors in Hong Kong

This paper studies the effect of independent directors’ multiple directorships (MDs) on firm value and examines the countervailing effects of quality and “busyness.” Using a unique panel data set covering all Hong Kong‐listed firms, we find that despite independent directors’ busyness, there is a strong and positive relation between the number of MDs of independent directors and firm value. We also find, however, that the positive effect of MDs declines at higher levels of busyness. We find that the effects of MDs on firm value are stronger under better corporate governance standards. We show that independent non‐executive directors (INEDs) with a CEO position underperform because of busyness. After the requirement of increasing the minimum number of INEDs in Hong Kong from 2004, the quality effect of MDs seems to be reduced, implying the policy may have increased the busyness of some INEDs. Our results are robust to a range of estimation procedures, including alternative MD and firm‐performance measurements, and 2SLS. Our empirical evidence suggests that highly engaged independent directors still improve firm value and supports increasing the minimum requirement for the fraction of independent directors, even under a supply constraint of qualified directors.     

Nachhaltiges Marketing im Schweizer Detailhandel: Das Beispiel Migros

Zusammenfassung  Wird das Thema Nachhaltigkeit vom Marketing mit allen seinen Aspekten aufgegriffen, hat das Auswirkungen auf die gesamte Wertsch?pfungskette. Die Schweizer Einzelhandelskette Migros begann bereits im Jahr 1973 damit ihren Kunden Produkte aus integrierter Produktion anzubieten. L?ngst ist daraus ein umfassendes nachhaltiges Konzept entstanden, dessen Kern ein eigenes Label dokumentiert. Somit gelingt es der Migros die drei zentralen Aspekte des nachhaltigen Handelns — ?kologische, soziale und ?konomische Dimensionen — umzusetzen.     

Ethical Guidelines for a Networked World under Construction

Networked computer systems simultaneously destroy and build up old and new kinds of global and local jobs. Digitally networked ultra-modern structures in work, company and administration bring us turbulent times. This development is analyzed from an ethical, technological and economical point of view and illustrated by empirical data. The main emphasis of this article is placed on considerations, from the point of view of business ethics, of the conception of workplaces – in the office, at home and abroad (mobile work) – equipped for computer-supported information exchange. In order to make better use of these new technologies, ethical, action-oriented guidelines should be considered.     

The British partnership phenomenon: a ten year review

This article presents a detailed review of the vast partnership literature that has emerged in the UK between 1998 and 2008. It begins by examining definitions of partnership, and suggests that while academic definitions are vague, practitioner definitions tend to conflate partnership processes with partnership outcomes. An alternative definition based upon processes and practices is offered. This is followed by a review of the conceptual advocates/critics debate, and the key themes of empirical partnership studies. It is proposed that while recent empirical evidence identifies a variety of outcomes and presents various typologies of partnership, there is an absence of debates on typologies in the literature. The article then identifies several limitations of the existing literature, including ideological positions, a lack of sensitivity to context and to different types of partnership, and a focus on outcomes. The article concludes by suggesting avenues for future partnership research.     

The meanings and purpose of employee voice

In this paper we present and assess an analytical framework for examining the different ‘meanings, purposes and practices’ of employee voice. The data were collected from eighteen organizations in England, Scotland and Ireland. Managers defined voice very much in terms of the perceived contribution to efficiency and tended to downplay notions of rights; however, the linkages between voice and performance outcomes remain problematic. Overall, employee voice is best understood as a complex and uneven set of meanings and purposes with a dialectic shaped by external regulation, on the one hand, and internal management choice, on the other. The evidence suggests that the degree to which voice practices are embedded in an organization is much more important than reporting the extent of any particular individual or collective schemes for employee voice.     

The role of interviewer encounters in panel responses on life satisfaction

This note examines a common explanation why participants of panel surveys may report declining life satisfaction over time. In line with the argument of developing trust relationships between interviewers and interviewees, the analysis reveals positive effects in reported life satisfaction when the person conducting the interview changes to an unfamiliar individual. Yet, the evidence also shows that the overall decline is determined by years in the panel, rather than by number of encounters with one specific interviewer.     

The determinants of foreign giving: An exploratory empirical investigation of US manufacturing firms

To date, there is ample evidence on the determinants of domestic charitable contributions made by US firms. However, to the best of our knowledge, no one has investigated the determinants of foreign charitable contributions made by US firms. Using the Socrates KLD database and the US M&A data for the 2004–2010 period, we find evidence that foreign giving by US manufacturing firms is linked to certain key variables. Specifically, we find evidence that variables found significant in the domestic giving literature (pre entry return on assets, size, debt to asset ratio, market to book ratio, and research and development expense as a function of sales) are also found significant for foreign giving. However, and notably, cultural distance and foreign sales percentage have been found to be important discriminators between manufacturing firms who give abroad and those who do not. It appears that high international business experience (proxied by the foreign sales ratio) and operations in culturally distant countries motivate foreign giving. Finally, subsample analysis involving developed and developing countries suggests that cultural distance matters for developing countries, but does not for the developed country subsample. Firm level profitability matters for developed countries, but not for developing countries. Future research may be expanded to include the dollar amounts of giving and a bigger sample size. Differences in foreign giving patterns between manufacturing and non-manufacturing firms, and by firms in countries other than the US, may also be explored.