An Asymmetric Information Model of Lockouts

This note proposes an asymmetric information model of collective bargaining where the firm has the bargaining power and the union the private information. Results show that the firm may use lockouts to induce the union to reveal its private information.     

An Empirical Study of the Impact of CEO Characteristics on New Firms' Time to IPO*

An initial public offering (IPO) is one of the most critical events in the life of a firm. As the IPO market continues to attract attention from both entrepreneurs and investors, research examining the relationship between the firm's characteristics and its IPO performance is growing. In this paper, we use the upper echelon perspective to empirically examine the relationship between the firm's chief executive officer (CEO) and the firm's time to IPO, a relationship that has so far received little attention. Using data obtained from 237 IPOs in the U.S. software industry, we found that the CEO's prior executive experience, network, and age are significantly related to the new firm's time to IPO. This study extends the understanding of the important role of the CEO in the IPO and provides investors greater insight into those variables that influence the speed with which firms go public.     

The Term Structure of Interest Rates in a Small Open Economy: A Stochastic Analysis

This article employs a rational expectations IS-LM model with price adjustment to study the effect of domestic monetary and fiscal policy and world interest rate disturbances on the real and nominal small open economy term structure of interest rates. The impact of both temporary and permanent shocks are investigated. Notable results include the fact that monetary expansions lead to positive yield curves, while the implications of fiscal expansions and increases in the world interest rate depend crucially on the duration of the shock.     

An evidence-based review of e-HRM and strategic human resource management

One stated purpose of electronic human resource management (e-HRM) is to make the HRM function more strategic. The goal of this paper is to examine the research on e-HRM to provide evidence-based guidance to researchers and practitioners on the relationship between e-HRM and strategic HRM. We review 40 studies published from 1999 to 2011 using integrative synthesis as our evidence-based methodology. Results reveal that theoretical and empirical research in this area is still at an early stage. We find no empirical evidence showing that e-HRM predicts strategic outcomes. There is evidence suggesting that strategic HRM predicts e-HRM outcomes and that the relationship appears context dependent, however, research designs are not sufficient to establish causal direction. Our review highlights the need for more empirical studies on e-HRM and strategic HRM outcomes at a macro level.     

Environmental Effects of Production and Consumption Activities Within an Economy: the Aragon Case

The goal of this research paper is to analyze the households’ environmental impact in a regional economy such as Aragon, focusing on water consumption, and water and atmosphere pollution. Our objective is to include not only the direct impact but also the indirect one that is generated by the production of goods and services in global and per capita. The framework of analysis is a SAMEA (Social Accounting Matrix and Environmental Accounts) built for Aragon in 1999. This SAMEA is composed by SAM (Social Accounting Matrix) and also the Water Accounts, the Water Pollution Accounts and the Atmosphere Emissions Accounts. For this reason, the SAMEA describes the relationship between the institutional activities and the environment. In order to obtain environmental impact of household activity in Aragon and to measure the individual responsibility, we are going to calculate indicators from the SAMEA model considering only households as exogenous account. The environmental effects are estimated for two water resources categories, for six water pollution categories and for six atmosphere emissions categories.     

Paths of learning, grieving and transforming

This paper looks at the internal paths people walk as they are engaged in learning about future generations. The deep personal relevance and immediacy of the topic engage students as whole persons in learning processes that transform their perspective on the world and on themselves. Facilitating students as they go through this transformative learning cycle is the task of the teacher. Furthermore, although not widely recognized as such, grief is a part of any learning process as people let go of one thought, perspective or behavior, and try on a different one. When the topic is emotionally loaded with such profound implications as that of the future of our planet, grief becomes even more intense for the learner. Thus educators benefit from an understanding of both learning and grieving processes as they teach courses about future generations. By acknowledging the mourning associated with transforming the learners' world view, educators may assist students to move beyond immobilizing blocks and despair to creative action. This paper explores the normal experiential learning cycle and natural grief processes as they are played out within students while learning about global futures.     

Nurse executives: decision points in their careers

Nurse executives identified key decision points in their careers. Typical of executive women, they had a general sense of career direction but reported no overall career plan.     

Nonconvexity,efficiency and equilibrium in exhaustible resource depletion

We consider the problem of efficiency and existence of a competitive equilibrium in exhaustible resource markets where extraction costs are nonconvex. Nonconvexity is shown to imply that (1) (efficient) extraction ceases to the left of the minimum efficient scale, i.e., where average costs exceed marginal costs; and (2) a competitive equilibrium does not exist. Introduction of a backstop technology (which induces a flat portion of the industry demand curve) restores both existence and efficiency, provided that the backstop price is sufficiently low. If firms face even a small amount of uncertainty regarding their rivals' stocks, a backstop technology is sufficient to restore existence of competitive equilibrium, even if the backstop price is very high. In this case, however, the competitive equilibrium is not efficient.     

Ethnic-immigrants in founding teams: Effects on prospector strategy and performance in new Internet ventures

We investigated differences in strategy and performance between new Internet ventures with ethnic-immigrant members in the founding team and a matched set of Internet ventures with non-ethnic-non-immigrant team members. Results showed that new ventures with an ethnic-immigrant presence in the founding teams tended to pursue a more aggressive prospector strategy than those with non-ethnic-non-immigrant founding team members. Still, performance of the two groups of ventures was comparable. However, the positive effects of ethnic-immigrant presence on founding teams depended on team size and average age of the founding team members.