Is Latin America Catching Up? A Time‐Series Approach

Most Latin American economies ended the twentieth century further behind the United States (in terms of productivity) than they had been in 1950. We investigate whether this reflects the effect of occasional economic setbacks or a systematic tendency to fall behind the United States. This is done using a time‐series approach that allows for up to two structural breaks in a series. We find evidence that relative productivity is a (broken) trend‐stationary process for most of the 18 countries considered but that only one, Chile, shows evidence of catching up with the United States at the century’s close.     

The Impact of Racial Discrimination on the Early Career Outcomes of Young Men

The NLSY dataset is utilized to measure the extent of employer wage discrimination between white and black males during their first 5 years of post-school employment. We look at the respondent’s first job and the jobs 1 and 5 years after school completion. Oaxaca wage decompositions are employed to gauge the effect of discrimination. Consistent with our hypothesis, we find that the discrimination component of the wage gap falls over time. For the first job out of school the unexplained wage gap between blacks and whites is 35%. By year 5, the unexplained component falls to about 13%. Thus, while discrimination continues to play a role in explaining the white–black wage gap over time, its impact decreases as time in the labor market increases.

To Gamble or Not? Perceptions of Macau Among Mainland Chinese and Hong Kong Visitors

Macau's casino sector has been expanding rapidly, particularly targeting mainland Chinese gamblers. The novelty and under‐researched nature of this market is a challenge for Macau's casino and destination marketers. This study explores the characteristics of the mainland market and compares this with the second placed and more mature Hong Kong market. The profiling of visitors from Macau's main source markets including demographic, region of origin, trip behaviour and motivation characteristics provides insights into the future success of the destination. Adaption theory is used to explain the implications of differences between Gambling and Non‐Gambling visitors from the two source markets. Copyright © 2012 John Wiley & Sons, Ltd.     

Hungry for Growth? Small and Medium‐sized Tourism Enterprise (SMTE) Business Ambitions,Knowledge Acquisition and Industry Engagement

Differences are identified between the preferred information and learning channels of small and medium‐sized tourism enterprise (SMTE) proprietors, who have an interest in business operations (growers) or who have relatively less interest (lifestylers). Lifestylers sign up frequently to tourism industry associations, whereas growers have a tendency to join generic business groupings. The most common information for both groups is marketing related, and intensive use is made of online information to support day‐to‐day business operations. In aggregate, SMTE proprietors are avid information seekers, attaching importance to the advice provided from experienced and trusted sources. Growers proactively gather information about general management as well as tourism‐specific knowledge. Adopting a ‘one size fits all’ approach to providing information for the SMTE sector is unlikely to be effective. Copyright © 2012 John Wiley & Sons, Ltd.     

Kitchen confidential? Norms for the use of transferred knowledge in gourmet cuisine

When will knowledge holders share their knowledge with peers? Several studies suggest that norms of knowledge disclosure encourage knowledge transfer. More recently, scholars have hypothesized that norms of knowledge use may indirectly promote it. In this article, we synthesize a theoretical framework of the effect of norms of knowledge use and test its predictions by means of a field experiment involving more than 500 Italian chefs. For the literature on knowledge transfer, we confirm the importance of norms, but we also show that they are not complete substitutes for other means of protecting private knowledge. For the literature on social norms, we provide evidence of how actors assess others' propensity to conform and how this influences the intention to participate in the norm‐regulated exchange. Copyright © 2013 John Wiley & Sons, Ltd.     

International trade and directed search unemployment in general equilibrium

We develop an open economy general equilibrium model, with auction‐based directed search unemployment, to study the interactions of trade and unemployment. The theory ascribes all outcomes purely to the fundamentals of technology and endowment. If countries differ by endowment, trade makes both the unemployment rate and the rental in the capital‐(labour‐) abundant country rise (decline) but does not lead to equalization. If, alternatively, countries differ by technology, trade increases (decreases) the unemployment rate in the country whose technology is relatively superior (inferior) for producing the capital‐intensive good.     

Family Business Restructuring: A Review and Research Agenda

Although business restructuring occurs frequently and it is important for the prosperity of family firms across generations, research on family firms has largely evolved separately from research on business restructuring. This is a missed opportunity, since the two domains are complementary, and understanding the context, process, content, and outcome dimensions is relevant to both research streams. We address this by examining the intersection between research on business restructuring and family firms to improve our knowledge of each area and inform future research. To achieve this goal, we review and organize research across different dimensions to create an integrative framework. Building on current research, we focus on 88 studies at the intersection of family firm and business restructuring research to develop a model that identifies research needs and suggests directions for future research.     

What do i want? The effects of individual aspiration and relational capability on collaboration preferences

Research summary: We examine individuals' collaboration preferences in the Knowledge Transfer Network (KTN) for the UK plastics electronics sector. Using conjoint analysis, we investigate how aspiration gaps and relational capability affect the value placed on potential organizational collaborations. Aspiration gaps reflect individuals' perception of whether they are ahead of or behind peers on their career trajectory, and relational capability captures three distinct dimensions: networking skills, openness to collaborate, and network awareness. Our findings suggest that positive and negative aspiration gaps augment preferences to form organizational partnerships. These effects are positively moderated by networking skills and openness and negatively moderated by network awareness. We discuss the implications of these findings for theories of partnership formation, scientific collaboration, and behavioral strategy. Managerial summary: University–industry collaboration is important to the creation and application of new knowledge. Such collaboration requires individuals of different backgrounds to work together, which can be difficult. We investigate what drives individuals' preferences to collaborate. We find that individuals who consider themselves ahead of or behind their peers are more favorable toward collaboration. We also find that networking skill and openness augment this positive collaboration disposition whereas awareness of the network members makes one more selective and reduces the proclivity to collaborate. Copyright © 2015 John Wiley & Sons, Ltd.     

Two sided efficient frontiers at multiple time horizons

Annals of Finance - Two price economy principles motivate measuring risk by the cost of acquiring the opposite of the centered or pure risk position at its upper price. Asymmetry in returns leads...