Integrating Ethics and Strategy: A Pragmatic Approach

An organizing framework is set out for the diverse literature on business ethics in relation to strategic management. It consists of sets of bi-polar components, spanning themes and topical themes, with a derived typology of contributions. Then, in the spirit of classical pragmatism, the organizing framework is re-cast as an integrative conceptual model of the strategy–ethics relationship. The approach recognizes that both pragmatism and dialectics can underpin progress towards integration, encompassing both normative and empirical aspects.     

Existence and Uniqueness of Ordinal Nash Outcomes

In this paper we present necessary and sufficient conditions for existence and uniqueness of ordinal Nash outcomes. These outcomes are derived from the ordinal Nash solution—a reinterpretation and an extension of the Nash bargaining solution that allows bargainers to have preference relations that are more general than expected utility. Our task is undertaken by the construction of a new notion called “induced utilities”. Journal of Economic Literature Classification Number: C78.     

Transition to smallholder agriculture in Central Asia

The article reviews the development of smallholder farming in Central Asia's former Soviet republics. One of the striking features of the agricultural transition in Central Asia (and Commonwealth of Independent States [CIS] in general) is the dramatic shift, since 1992, from the predominance of large corporate farms to individual or family agriculture based on a spectrum of small farms. Evidence shows that individualization of agriculture is associated with the observed posttransition recovery in Central Asia (and in CIS in general) and that small family farms outperform the large enterprises. This clashes with the traditional philosophy of economies of scale and with the inherited view of small family farms as an undesirable aberration. We discuss the policies that helped smallholder farms in Kazakhstan, Kyrgyzstan, and Tajikistan and severely restricted their growth and development in Uzbekistan and especially Turkmenistan.     

Meeting the Health-care Needs of the Rural Elderly： The Unique Role of Village Doctors

Despite their recent deterioration, village clinics have historically been an important source of health care for the poor and elderly in rural China. In this paper, we examine the current role of village clinics, the patients who use them and some of the services they provide. We focus specifically on the role of village clinics in meeting the health-care needs of the rural poor and elderly. We find that although clinics are continuing to decline financially, they remain a source of care for the rural elderly and poor. We estimate that the elderly are 10-15 percent more likely than young individuals to seek care at a clinic. We show that clinics provide many unique services to support the rural elderly （and the elderly poor）, such as in-home patient care, the option for patients to pay on credit, and free and discounted services.     

On the Validity of the “Importance Minus Performance” Construct—A Genuine Contribution of the Tourism Literature or a Mishap?

Measuring service quality in a reliable and valid manner is crucial. Accordingly, this study explores whether the tourism-oriented Importance-Performance construct is a theoretically sound measure of service quality. The conceptual analysis is followed by an empirical test of the construct's prediction capability within the realm of service quality/satisfaction framework in the tourism context of a large festival. Both the conceptual and empirical results clearly indicate that the validity of the Importance-Performance construct should be strongly doubted, and that tourism and hospitality managers as well as researchers would be better off avoiding the use of the Importance-Performance construct.     

中国金融创新和技术进步的前景展望--2001年中国金融国际论坛发言集萃

首先,我想谈谈金融在促进技术进步方面的历史地位。然后我想讲讲它在为新企业融资方面所起的作用及其形式。其中的主要观点是美国现代风险投资公司只是发挥为新企业创建初期提供资金的功能的一种组织形式。这种功能就是为新企业提供资金。有许多途径可以实现这种功能,从使用个人储蓄到使用家庭储蓄等等。所以在讨论金     

Stakeholders and the composition of the voting rights of the board of directors

We propose a new approach to dynamic representation of different groups of stakeholders on the board of directors. This approach is based on a simple economic model of the firm, with an objective function to maximize its market value. We look at the marginal claim of each stakeholder on the assets of the firm. It divides the voting rights based on the change in value of each stakeholder with a one dollar change in the value of the firm as a whole. We translate these conditions to relative voting powers on the board. While there are many claims in the academic and popular literature on sharing voting rights on the board, our paper is the first to propose a quantitative dynamic model of the power sharing in the corporation.     

Job and wage mobility with minimum wages and imperfect compliance

We propose a job search model with minimum wage regulations and imperfect compliance to explain the doubling of the mean and variance of hourly earnings of white males during the first 18 years of labor market experience. The model encompasses job mobility and on‐the‐job wage growth as sources of wage dynamics, and is estimated by simulated generalized method of moments using data from the National Longitudinal Survey of Youths 1979. Our estimates provide a good fit for the observed levels and trends of the main job and wage mobility data, and for the increase in the mean and variance of wages over the life cycle, as well as for the fall in the fraction of workers paid below the minimum wage. Job mobility explains 40–50% of the observed wage growth. Increases in the minimum wage and/or compliance deliver small effects on the wage distribution and the nonemployment rate. Copyright © 2010 John Wiley & Sons, Ltd.