Product Innovation in Resource‐Poor Environments: Three Research Streams

We explore the role and relevance of resource scarcity in product innovation. The literature tends to assume that the development of new products requires resource sufficiency for the process to be conducted systematically. But we are also taught that necessity is the mother of invention and that resource scarcity may be a trigger of innovation in adverse contexts. In this discussion, we organize the literature on product innovation in resource‐poor contexts in three streams. The paper contributes to a finer‐grained understanding of the role of scarcity in product innovation and suggests that creative approaches to scarcity may contribute to knowledge enrichment of product innovation theory and practice.     

Environmental Management Systems and Local Community Perceptions: the Case of Petrochemical Complexes Located in Ports

Most oil refineries and factories producing basic chemical products are located in port areas, with the result that industrial complexes potentially have a strong environmental impact on their area of influence. These externalities result in a loss of welfare for citizens residing in neighbouring areas. In a context of sustainable development, companies must integrate concerns about the natural environment in their business strategy. External stakeholders, as residents, find it difficult to visualize the actions firms take to reduce their environmental impact, and the adoption of voluntary certified environmental management systems (EMSs) acts as a signal indicating the adequate environmental behaviour of these companies. These certifications enable companies to achieve the social legitimacy they need for long‐term survival and competitiveness. In the context of a petrochemical industrial complex located in the port of Castellón (Spain), this paper primarily discusses whether such certifications – which act as signals of firms’ desirable environmental conduct – translate into higher trust in firms and lower risk perception by residents. Contrary to what might be expected, despite the widespread use by companies of voluntary and certified EMSs, the research findings confirm a relatively high citizen perception of risk regarding the industrial complex and a low trust in companies. On the other hand, the findings also show a low trust in the public institutions responsible for authorizing and monitoring firms’ activities and for enforcing possible sanctions in non‐compliance cases. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment     

Fear of Floating in Brazil: Did Inflation Targeting matter?

Brazil implemented Inflation Targeting (IT) after the breakdown of a managed floating regime, showing a similar pattern to most of the emerging markets that adopted this framework. This unplanned policy change has led to some disbelief regarding the country's commitment to its inflation objective and to a floating exchange rate. In this paper we analyse whether the adoption of IT has led to an actual shift in the country's approach to the exchange rate. We find greater exchange rate flexibility and milder interventions in the foreign exchange market after IT. We conclude that possible interventions should not be seen as Fear of Floating, but as a required policy for the attainment of the inflation targets.     

Why factors facilitating collusion may not predict cartel occurrence — experimental evidence

Factors facilitating collusion may not successfully predict cartel occurrence: When a factor predicts that collusion (explicit and tacit) becomes easier, firms might be less inclined to set up a cartel simply because tacit coordination already tends to go in hand with supra-competitive profits. We illustrate this issue with laboratory data. We run n-firm Cournot experiments with written cheap-talk communication between players and we compare them to treatments without the possibility to talk. We conduct this comparison for two, four, and six firms. We find that two firms indeed find it easier to collude tacitly but that the number of firms does not significantly affect outcomes with communication. As a result, the payoff gain from communication increases with the number of firms, at a decreasing rate.     

Selecting structural innovations in DSGE models

Dynamic stochastic general equilibrium (DSGE) models are typically estimated assuming the existence of certain structural shocks that drive macroeconomic fluctuations. We analyze the consequences of estimating shocks that are “nonexistent” and propose a method to select the economic shocks driving macroeconomic uncertainty. Forcing these nonexisting shocks in estimation produces a downward bias in the estimated internal persistence of the model. We show how these distortions can be reduced by using priors for standard deviations whose support includes zero. The method allows us to accurately select shocks and estimate model parameters with high precision. We revisit the empirical evidence on an industry standard medium‐scale DSGE model and find that government and price markup shocks are innovations that do not generate statistically significant dynamics.     

Economic growth,public, and private investment returns in 17 OECD economies

Portuguese Economic Journal - We study the macroeconomic effects of public and private investment in 17 OECD economies through a VAR analysis with annual data from 1960 to 2014. From impulse...     

Website usability,consumer satisfaction and the intention to use a website: The moderating effect of perceived risk

This paper analyzes the influence of website usability on both consumers' satisfaction and intention to use a website, as well as the impact of satisfaction on usage intentions. Additionally, we study the moderating effect that consumer risk perceptions may have on the influence of website usability. Results show that website usability affects satisfaction which in turn affects intention to use. Contrary to expected, usability does not directly affect intention to use but has an indirect effect through consumer satisfaction. Finally, the usability effect on consumer satisfaction is moderated by perceived risk.     

Evolving research on expatriates: what is ‘known’ after four decades (1970–2012)

The purpose of this paper was to provide a comprehensive review of the evolving research on a still key challenge for human resource management (HRM) in the globalized business of today: the expatriates and their impact on business performance. Research of four decades was reviewed to show what was known and what was not yet known. A bibliometric analysis was conducted to build a conceptual map of the evolving research. Up to 438 papers published in 104 different journals by 233 authors were analyzed. Most of the literature studies and research does not show a systematic approach, so this review may be useful for scholars and practitioners in the field of HRM and International Business Management in order to advance into the next stage of development on how to deal with and take advantage of hiring expatriates. Even after more than four decades of intensive research, the literature on expatriation is still nascent and requires higher order content. New contexts and organizations should be included in the research agenda, while an effort must be made in systematic approaches and in building higher order content in the international HRM field.     

Industrial relations and the management of flexibility: factors shaping developments in Spain and the United Kingdom

Any analysis of workforce flexibility within particular countries needs to take account not only of the character of industrial relations and union organization at workplace and company levels, but also of how actions at those levels are influenced by broader regulatory arrangements covering employment and work practices. In other words, to avoid the over-simplifications and over-generalizations which much of the flexibility debate has in the past been (correctly) accused of and to expand the analysis offered by the relatively broad-brush, multi-country studies, it is necessary to locate issues of flexibility more securely within both existing national regulatory and institutional frameworks, and also to take account of patterns of union organization and job regulation at the local level, and the ways unions and workforces have responded to (and at times even shaped) different flexibility initiatives by employers. By analysing different types of enterprise in Spain and the United Kingdom, this article seeks to illustrate the role and significance of these factors for the particular development of workforce flexibility in the two countries.