Measuring risk attitude of agricultural producers using a mail survey: how consistent are the methods?

A mail survey is used to examine the consistency of alternative risk preference elicitation procedures using five commonly used methods. These elicitation procedures have been used in previous studies to characterise risk preference. Results show little consistency across procedures, supporting strength-of-preference studies. A general recommendation for mail surveys is the development of relatively easy-to-understand risk-preference elicitation procedures that are framed according to the situational construct in question.     

Do free trade agreements actually increase members' international trade?

For over 40 years, the gravity equation has been a workhorse for cross-country empirical analyses of international trade flows and — in particular — the effects of free trade agreements (FTAs) on trade flows. However, the gravity equation is subject to the same econometric critique as earlier cross-industry studies of U.S. tariff and nontariff barriers and U.S. multilateral imports: trade policy is not an exogenous variable. We address econometrically the endogeneity of FTAs. Although instrumental-variable and control-function approaches do not adjust for endogeneity well, a panel approach does. Accounting econometrically for the FTA variable's endogeneity yields striking empirical results: the effect of FTAs on trade flows is quintupled. We find that, on average, an FTA approximately doubles two members' bilateral trade after 10 years.     

适应角色转型，塑造新型领导力

对于那些失败的经理人而言，他们再也不能拿彼得原理来做借口了。通过更加仔细的评估、分析和理解人与岗位的匹配度，领导者和他们的公司都能选择，开发、管理和提升正确的优秀人才。无论从哪个方面来讲，John都是一颗冉冉升起的明星。作为一个全球消费品公司的首席财务官，他极富才气，并很有可能成为企业下一任首席运营官。     

Transforming sales organizations through appreciative inquiry

The emergence of positive psychology has led to a change in the focus of researchers interested in psychological phenomena. Sales researchers, however, have been slow to adopt methods of positive psychology; few studies to date incorporate positive psychology constructs into the sales setting. One method of research consistent with positive psychology, called Appreciative Inquiry, has received a great deal of attention in recent years. Appreciative Inquiry is based on the assumption that positive individual and organizational change can be accomplished most effectively through a dialogue focusing on strengths and positive circumstances. This article is an initial attempt to examine the applicability of Appreciative Inquiry methods to the sales setting. © 2006 Wiley Periodicals, Inc.     

SENSITIVITY OF INVESTOR REACTION TO MARKET DIRECTION AND VOLATILITY: DIVIDEND CHANGE ANNOUNCEMENTS

We examine whether investor reactions are sensitive to the recent direction or volatility of underlying market movements. We find that dividend change announcements elicit a greater change in stock price when the nature of the news (good or bad) goes against the grain of the recent market direction during volatile times. For example, announcements to lower dividends elicit a significantly greater decrease in stock price when market returns have been up and more volatile. Similarly, announcements to raise dividends tends to elicit a greater increase in stock price when market returns have been normal or down and more volatile, although this latter tendency lacks statistical significance. We suggest an explanation for these results that combines the implications of a dynamic rational expectations equilibrium model with behavioral considerations that link the responsiveness of investors to market direction and volatility.     

The attitudes of business majors toward the teaching of business ethics

Business majors were tested for their attitudes toward the teaching of business ethics in university business education. Respondents indicated that they considered ethics an important part of a business curriculum and that they preferred integrating ethics into a number of different courses rather than taking a separate compulsory or elective ethics course. Ethical business practices were seen by respondents as increasing profit and return on investment and creating a positive work environment and public perception of the organization.Karen Stewart is an Assistant Professor at Richard Stockton College of New Jersey. She has taught undergraduate business courses for over ten years and has published in the areas of educational marketing, business school accreditation, marketing by nonprofit agencies, and business ethics.Linda Felicetti is a Professor of Marketing at Clarion University of Pennsylvania. She has published in the areas of retailing, educational marketing, marketing of nonprofit organizations, and business ethics.Scott A. Kuehn is an Assistant Professor in the Department of Communication at Clarion University of Pennsylvania. He earned his Ph.D. in Communication in 1987. His research interests include the study of computer communication and the educational application of computers in higher education.     

The Profit-Structure Relationship in Legally Protected Banking Markets Using Efficiency Measures

Our various tests suggest that our sample banks that are shielded from competition by severe intrastate branching restrictions have market power. This analysis has allowed us to test rigorously the adverse effects of legal and possibly market barriers to entry. We reject the notion that profits are a result of superior $x$-efficiency. We conclude if these results are corroborated by further research (e.g., using other measures of profit, efficiency, capital, etc), and if these and/or other barriers remain, the Federal Reserve should be concerned with the competitive impacts of rural, in-market bank mergers.     

Team Racial Composition, Member Attitudes, and Performance: A Field Study

Attitudinal, performance, and demographic data from 1200 workers on self-directed teams are examined to determine if racial composition affects team performance, if African-Americans and whites have different attitudes toward their teams and team performance, and whether any differences explain performance differences associated with different racial composition. Results indicate that racial composition affects team performance and racial differences in team and performance-related attitudes. Differences in attitudes reduce, but do not eliminate, racial composition effects on team performance.