Make your enemies your allies

Rivalries in the workplace can be destructive to both personal career growth and group success. Many attempts to reverse rivalries fail because of the complex way emotion and reason operate in the building of trust. Using a method called the 3Rs, an effective leader can turn a rival into a collaborator, setting the stage for a healthy work life while driving fresh thinking within an organization. Step 1 of the method is redirection, shifting a rival's negative emotions away from the adversarial relationship. This creates an opening for Step 2, reciprocity, through which a relationship can be established. Here, the essential principle is to give before you ask--offering a rival something of clear benefit and "priming the pump" for a future return that requires little effort on the rival's part. Step 3, rationality, sets expectations of the new relationship so that efforts made using the previous steps don't come off as disingenuous. A rival is encouraged to see collaborative opportunities from a reasoned standpoint. A key advantage of the 3Rs is that the method can work to reverse all kinds of rivalries, including those with subordinates, peers, and superiors.     

Equity market integration in the Asia Pacific region: Evidence from discount factors

The paper investigates stock market integration among 10 economies in the Asia Pacific region over the period April to May 2006 based on a recently developed technique that relies on estimating expected discount rates; see [Flood and Rose, 2005a] and [Flood and Rose, 2005b]. The results show a limited but varying degree of stock market integration among the 10 economies. Membership in a formal economic organization does not seem to affect the degree of integration.     

The nature of Coasean property

The Coase Theorem is widely regarded as pointing to the importance of positive transaction costs for the analysis of economic institutions. Various interpretations of the Coase Theorem regard transaction costs as some set of impediments to contracting, or more broadly, as the costs of providing institutional solutions to conflicts over resource use. The abstract nature of the Coasean hypothetical tends to promote an abstract notion of property as a thin entitlement: a right in a designated person to take certain actions or derive value from a set of resource attributes. On this view, property is like a collection of tiny contracts. The property rights furnished by actual property law are much more coarse grained than this, and property is correspondingly “incomplete” for transaction costs reasons. Property and contract are substitutes in some situations, but they often are not interchangeable—because of Coasean transaction costs.     

Timeliness,transparency, and trust: A framework for managing online customer complaints

This article discusses several practical solutions for dealing with online customer complaints. Online complaints are inevitable; how a firm responds can make the difference. There are techniques that managers can use not only to minimize the detrimental impact of online complaints, but also to produce beneficial outcomes. Herein, we introduce our 3T framework, designed to help managers and support teams respond to online complaints in a thoughtful and measured way. We build on word-of-mouth research and several theories from marketing, service marketing, journalism, and business ethics. With so many reviews posted online every second, firms must employ best practices grounded in empirical research and solid conceptualization to deal with this important component of online customer service.     

Estimating the market value of collegiate football players from professional factor shares

Although the level and growth of revenue in college football has drawn increasing public attention, reliable estimates of the value of college and associated rents remain elusive. Many players do not have easily observable performance statistics and there are significant complementarities. Using a simple estimation strategy based on professional factor shares and rooted in economic theory, we generate estimates of market value for college players across seven National Collegiate Athletic Association conferences using professional football and basketball salaries from 2011 to 2013 as shadow prices. With this method, market value of an average starting football player in a Bowl Championship Series (BCS) conference ranges from $120,000 to $1.7 million per year. The value of superstar players may exceed $4 million per year. We find that rents can flow from the institutions to players in some cases at relatively low-revenue institutions outside the BCS.     

Are gold bugs coherent?

We use wavelet models to surface the relationship between gold miners stock prices and the price of gold. We find that there is little relationship in the short run but some significant and long-standing long-run relationships. Gold prices appear to lead gold miner stock prices.     

Example‐Based Reasoning and Fact‐Weighting Guidance in Accounting Standards

The provision of examples as implementation guidance is pervasive in accounting standards. Prior research has established that preparers engage in “example‐based reasoning,” a tendency to favor the accounting treatment in an example, even when the example does not exactly match the transaction at hand. In this paper, we investigate whether fact‐weighting guidance counteracts this tendency. Such guidance, now found in some accounting standards, indicates whether particular transaction facts are more important than others in determining the appropriate accounting treatment. Using an experiment, we find that fact‐weighting guidance does reduce preparers' tendency to favor the accounting treatment in an example. However, results also suggest that some degree of example‐based reasoning persists even with fact‐weighting guidance, and that preparers are not fully aware of how fact‐weighting guidance affects their judgments. Our findings have practical implications. They suggest to standard setters a potential remedy—namely, fact‐weighting guidance—for the misuse of accounting examples. They also provide insights to accounting preparers regarding how fact‐weighting guidance influences their judgments in ways they may not anticipate.     

Effects of Pastoralism and Rabbits on the Economy and Culture of the Diyari People of North‐Eastern South Australia

The contraction of Aboriginal people from South Australian deserts is associated with European pastoral expansion. Confined to areas near water, livestock damaged vegetation locally, but introduced rabbits, not reliant on drinking water, spread well beyond pastoral settlement. Thus, rabbits caused almost universal desertification and were an equal factor in disrupting the former food web that sustained Aboriginal people. Within 30 years of the rabbits' arrival, important totemic animals like rabbit bandicoots had disappeared, leaving the people not only short of traditional game but also culturally bereft. A comparative economic approach to Aboriginal totemism explores changes in both ecological and cultural contexts.     

Restructuring the labour process in Sweden: the offensive of the SAF and the LO response

Compromise between organised labour and capital facilitated decades of economic growth and industrial cooperation in Sweden. However, management's monopoly over the ‘right to manage’ increasingly conflicted with the labour movement's desire for industrial and economic democracy. This article analyses organised capital's ability to resist labour's reform initiative and pursue a neo-liberal agenda which has greatly shifted Sweden in this direction.     

Factors affecting the nature and effectiveness of subjective revision in sales forecasting: An empirical study

Recent empirical results have indicated that sales forecasts obtained from a quantitative model can be improved through subjective revision undertaken by management. This study seeks to determine the extent to which the improvement in forecast performance is dependent upon the individual revising the forecast rather than the specific product under consideration. As any improvement in the forecast is a direct consequence of the adjustment effected, differences in the nature of revision among the individuals concerned and between different types of product are also examined. The results reveal no statistically significant differences between the managers involved in revision activity in terms of their ability to improve the forecast; on the other hand, significant differences in the number of forecasts improved were found between different types of product. As far as the nature of subjective revision is concerned, the results show a significant variation both between different types of product and between managers. Further, the improvement in forecast performance obtained through revision was found to be positively related to the relative size of the adjustment applied.