New class divisions in a modern working life?

This article questions the usefulness of a traditional class divide as a tool for understanding a contemporary working environment among manual and non‐manual workers in the oil service industry. The case of study is an enterprise within a supply chain with asymmetrical relationships between companies. Our findings show that the traditional manual/non‐manual class division is still relevant for understanding differences in perceived work situation in a modern work organisation. However, alongside a cleavage between manual and non‐manual workers, we find a cleavage between workers with differing amounts of contact with employees in organisations higher up in the supply chain.     

Foreign Institutional Investment,Ownership, and Liquidity: Real and Informational Frictions

The literature widely documents the negative liquidity impact of foreign participation in firms that permit high foreign institutional ownership. This paper employs a unique setting for the limited participation of qualified foreign institutional investors (QFIIs) in China's A-share market and examines how this impacts on stock liquidity in emerging markets. Contrary to the findings in the literature, foreign investor participation helps enhance the liquidity of affected stocks by promoting trade activities and price discovery. The improvement in liquidity does not occur through the information friction channel, but rather the real friction channel. Our results are robust to endogeneity issue and the possible influence of the global financial crisis, industry effects and the stock exchange. Further, the liquidity improving effects of QFII are even stronger when the analysis is performed on a subsample of QFII firms.     

The supply of labor time for mature females

Conclusions Overall, the evidence indicates that women view their leisure time as a normal good. The responsiveness in supply to changes in asset income is small.For females with spouse present, their time is a gross complement with respect to their spouse's time if the spouse's labor supply curve has negative slope. Simultaneously, the spouses' times appear to be net substitutes.There is evidence in both survey years of a backward bending labor supply curve for females. While most females remain on that part of their supply curve which has positive slope, females, particularly those with no spouse present, seem to be moving toward the backward bending segment of that curve over time. It seems that both females with and without spouse present will be behaving more like their male counterparts over time.This study evolved from a Department of Labor grant (Contract No. J-9-E-7-0180) made to Copley International Corporation, La Jolla, California. I am grateful for the assistance provided by Steven Alan Eich in working with the massive data sets utilized for this study.     

Determinants of firm performance: The relative importance of economic and organizational factors

We decompose the inter-firm variance in profit rates into economic and organizational components. Using a representative model from each paradigm we find that both sets of factors are significant determinants of firm performance. Further findings are that the two effects are roughly independent and that organizational factors explain about twice as much variance in profit rates as economic factors.     

Über die Bedeutung von Alltagsauffassungen für das Wirtschaftsgeschehen

Economics has begun to analyse its actors in a new light. Behavioural economics analyses real motives, reasons, attitudes and belief structures, individual and shared mental models, emotions, etc. The everyday behaviour of actors is generally incompatible with rational choice behaviour. Economic theory responds to this disconnect with modified models of rationality, but we have to be aware that defining rationality is aimed more at a normative conception of elegant model-building than it is at trying to explain real behaviour. “Real actors” have models, patterns and interpretations of their own in their economic everyday lives. Thus, economic theory must begin to take into account actors operating according to rules and theories different from those of the general economic models.     

Using Occupational Preference in Estimating Market Wage Discrimination: the Case of the Gender Pay Gap

ABSTRACT Past occupational preference is used to estimate the gender pay gap. The use of predetermined variables in a reduced-form wage equation avoids the bias caused by using variables that are correlated with the random error. Using a gender coefficient, the potential discriminatory gap is about 11.5 percent when past occupational preference is included. Decomposition yields an estimate of 10.5 percent when past occupational preference is included. In both cases, the discriminatory gap is close to that obtained when actual occupation is included. This suggests public policy directed toward reducing hiring discrimination by gender might be misdirected.     

Über periodische und angenäherte Beharrungszustände

Man stösst in den verschiedensten Zweigen der angewandten Mathematik — so in der Statistik, in der Versicherungstechnik, in der Physik, u.s.w. — sehr oft auf die Berechnung von Grössen, die als durch einen fortlaufenden Zugang irgend eines erzeugenden Elementes, deren Wirkung auf die zu studierende Grösse auf eine bestimmte Zeitdauer begrentzt ist, aufgebaut angesehen werden können.     

Dual discounting in climate change mitigation in the forest sector

The efficiency of potential climate change mitigation is predicated on future costs and benefits and thus heavily influenced by the discount scheme. Dual discounting involves discounting carbon and monetary values differently; stand level modeling efforts show that it improves the profitability of afforestation projects. However, these stand level results may not hold across other age classes and stocking levels. Using a partial, spatial equilibrium model of the Norwegian forest sector, we analyze the impacts of a dual discounting scheme on climate change mitigation efforts. Dual discounting results in less mitigation efforts in the first decades but substantially higher long-term mitigation efforts.     

Wozu Neuroökonomie?

Die ?konomische Theorie erh?lt durch die empirischen Methoden der Neurowissenschaft neue M?glichkeiten der Erkenntnisgewinnung. Wie unterscheiden sich die Denkmuster der Neurowissenschaft und der ?konomie? Bei welchen ?konomischen Fragestellungen kann die Neurowissenschaft einen Beitrag leisten? Prof. Dr. Birger P. Priddat, 57, ist Pr?sident der Universit?t Witten-Herdecke, Alihan Kabalak, 32, Dipl.-?konom, ist Assistent am Lehrstuhl für Politische ?konomie der Zeppelin University in Friedrichshafen.