Loan officers and loan ‘delinquency’ in Microfinance: A Zambian case

The paper seeks to promote greater understanding of the importance of loan officers in group-based microfinance by explaining their actual roles, dilemmas and tensions when working with poor clients. Few existing studies have used data outside Bangladesh and most focus upon relatively well-performing institutions. Using data from Zambia this study focuses on the recent crisis of Christian Enterprise Trust of Zambia (CETZAM) and the effects of its practices for accounting for and dealing with defaulters. The findings firstly show that loan officers faced powerful hierarchical accountability pressures and pursued inappropriate methods to compel further repayments to resolve this crisis. Its approach to borrower default was found to be stressful for loan officers and potentially detrimental for CETZAM's own short and long-term survival by reducing client loyalty and trust.     

Attributions and behavioral intentions of inexperienced salespersons to failure: An empirical investigation

The goal of this research was to determine how inexperienced sales representatives (rookies) interpret and respond to their sales failure situations. The authors studied 296 rookie financial services sales representatives'performance attributions for a previous unsuccessful sales interaction and their intended behaviors for a future, similar selling situation. This provided the authors the opportunity to compare their results with Dixon, Spiro and Jamil's (2001) findings for experienced sales representatives (veterans). In the event of a sales failure, rookies'responses do not parallel those of veterans. The results suggest that rookies are likely to engage in several inappropriate behaviors in response to failed sales encounters. Implications for managers and directions for future research are discussed. Andrea L. Dixon (Andrea. Dixon@uc.edu) (Ph.D., Indiana University) is an assistant professor of marketing at the University of Cincinnati. Her research focuses on selling behaviors, team selling, integrating technology and personal selling, and the role of developmental relationships in enhancing creativity and productivity in the sales division. The primary focus of her research is improving the performance of sales representatives and the sales organization or unit. She has published in theJournal of the Academy of Marketing Science, theJournal of Marketing, and theJournal of Personal Selling and Sales Management. She currently serves on the editorial review boards of theJournal of the Academy of Marketing Science and theJournal of Personal Selling and Sales Management. Dixon is the vice chair for conference programming of the Selling and Sales Management Special Interest Group of the American Marketing Association. Rosann L. Spiro (spiro@ indiana.edu), Ph. D., is a professor of marketing and chairperson of the Marketing Department at Indiana University in Bloomington, Indiana, where she teaches Sales Management, Personal Selling, International Marketing, Business-to-Business Marketing Strategy, and Managerial Research in Marketing. Her research interests focus on sales strategy, sales management, and personal selling. Her work has appeared in numerous publications, including theJournal of Marketing Research, theJournal of Marketing, theJournal of Consumer Research, theJournal of Business, and theJournal of Personal Selling and Sales Management. She currently serves on the editorial review boards of theJournal of Personal Selling and Sales Management andMarketing Management. She is also a coauthor of a leading sales management text,Management of a Sales Force (11 th ed.). She formerly served as the chairperson of the Board of the American Marketing Association. Curtently she serves on an Advisory Board for the Univted States Bureau of Census and is the chair of the Selling and Sales Management Special Interest Group of the American Marketing Association. Lukas P. Forbes (Lukas.Forbes@wku.edu) is an assistant professor of marketing in the Gordon Ford College of Business at Western Kentucky University. He received his B.S. from the United States Military Academy at West Point, his M.B.A. from worcester Polytechnic Institute, and is completing his Ph.D. at the University of Kentucky. His research interests include personal selling, services, and product development. He has previously published in the American Marketing Association Educators and Frontiers in Services conference proceedings.     

Reciprocity and economics in historical perspective

There is now compelling evidence to suggest that people respond in kind to helpful or hostile behaviour, so much so that some have been led to suggest that the subject of economic behaviour is not so much homo economicus as homo reciprocans. This recent interest in the phenomenon of reciprocity is part of a wider (and very welcome) rethinking of the basic attributes of the economic actor. On the basis of this recent work, economic theorising has moved some distance from the traditional modern-economic approach—an approach that simply assumes a strategically rational, egotistical actor and develops elaborate theorems therefrom—and towards a richer, more complex conceptualisation of the economic actor and her acts. On revisiting a remarkably similar debate that took place some 250 years earlier, however, we wonder whether this re-conceptualisation has yet moved far enough.     

Special issue: imperfect competition and contemporary macroeconomics. Editor’s introduction

This paper introduces the special issue by tracing out the history of imperfect competition in macroeconomics, particularly since 1980. It argues that in the search for a micro-foundation for nominal rigidity it was necessary to abandon the assumption of competitive equilibrium where all agents are price-takers. This led to models where firms and other optimising agents set wages and prices which were part of the new Keynesian economics of the 1980s. When these were combined with quantitative dynamic equilibrium methods it gave rise to the new neoclassical synthesis models which dominate macroeconomics today. The assumption of imperfect competition provides an equilibrium with different properties to the competitive, and one particular focus is on the relationship between the markup and the fiscal multiplier.

Global rice trade competitiveness: a shift‐share analysis

Changes in country shares of global rice exports from 1997 to 2008 are analyzed using an econometric, shift‐share analytical framework. This framework estimates growth rates and disaggregates these rates of change into geographical structure effects and performance effects. The performance effect is further decomposed into two subeffects accounting for adaptation to changes in the geographical structure of the marketplace and a competitiveness effect. A restricted, weighted, two‐way fixed effects model is specified for estimating the geographical structure and performance effects. Results indicate a growing concentration among a few exporting countries in the global rice market, and the competitiveness effect is often significant. Government policies affecting rice trade and the competitiveness of trading partners are important factors for the shifts in rice trade patterns. In particular, Vietnam is an emerging, major player in global rice trade in competition with Thailand.