Work without Wages; the Motivation for Valunteer Firefighters

A bstract . This is a theoretical and empirical exploration into the motivation of volunteer firefighters. After a brief discussion of methodology, the activities in which these volunteers engage are described and a theoretical model of volunteer motivation is presented. The central hypothesis is that individuals engage in voluntary activities to struggle against the pervasive alienating nature of productive activity in capitalist economies in an effort to achieve a greater degree of self actualization. This theoretical model is illustrated using data from a survey administered to 354 volunteer firefighters in Ulster County, New York. Lastly, the relationships between volunteer firefighting, alienation , and self-actualization are empirically explored, focusing upon comparisons between individuals' firefighting and career endeavors.     

Financial constraints and foreign direct investment: firm-level evidence

Low productivity is an important barrier to the cross-border expansion of firms. But firms may also need external finance to shoulder the costs of entering foreign markets. We develop a model of multinational firms facing real and financial barriers to foreign direct investment (FDI), and we analyze their impact on the FDI decision. Theoretically, we show that financial constraints can affect highly productive firms more than firms with low productivity because the former are more likely to expand abroad. We provide empirical evidence based on a detailed dataset of German domestic and multinational firms which contains information on parent-level financial constraints as well as on the location the foreign affiliates. We find that financial factors constrain firms’ foreign investment decisions, an effect felt in particular by firms most likely to consider investing abroad. The locational information in our dataset allows exploiting cross-country differences in contract enforcement. Consistent with theory, we find that poor contract enforcement in the host country has a negative impact on FDI decisions.     

Mobilität auf dem Klimaprüfstand: Bahnverkehr

Wirtschaftsdienst - Im Zuge der politisch und gesellschaftlich propagierten „Verkehrs- und Klimawende“ wird der Stärkung des Schienenverkehrs in Deutschland eine zunehmend...     

Planting Decisions and Uncertain Consumer Acceptance of Genetically Modified Crop Varieties

There exists much uncertainty about consumer attitudes toward genetically modified foods. If it happens that sufficient (insufficient) acres are planted under nonmodified seed to meet postharvest demand, then a price premium will not (will) emerge for the nonmodified varieties. A nonlinearity originates in the fact that a price premium may not be supported. This nonlinearity interacts with demand uncertainty to determine equilibrium plantings and the probability that postharvest varietal prices differ. Also, as planting approaches signals will be broadcast about the nature of postharvest demand. We show how the nonlinearity affects the types of signals that growers will prefer to receive.     

Career fields: a small step towards a grand career theory?

Little theory development has been done that accounts for the changes in the forms, actors and contexts of careers that we currently can see. Looking at careers from a ‘grand’ and unified theoretical perspective has a number of advantages. In particular, grand social theories allow the link between a well-elaborated and differentiated framework for social phenomena and for careers. Moreover, looking at careers from a unified perspective allows discussion of the great variety of aspects to careers in a single theoretical language. Based on the work of French sociologist Pierre Bourdieu, this paper focuses on social fields as one major element of an effort towards a more comprehensive theoretical framework for professional and managerial careers. In particular, it discusses the constituting characteristics of career fields as social fields and the application of this concept to work-related careers. Rather than adopting or adapting a specific theory in order to illuminate a specific national context, this paper, by using Bourdieu's concepts, proposes a framework to illuminate particular aspects sometimes not sufficiently stressed by recent – and more especially Anglo-Saxon – career research. Avoiding a choice between objective or subjective career and macro- or micro-perspective, it allows the strengthening or re-introduction of themes like multi-level analysis, simultaneous actionstructure view, combining ‘objective’ and ‘subjective’ perspectives, power distribution, social hierarchy and thus social inequalities into career research.     

On optimal choice of order statistics in large samples for the construction of confidence regions for the location and scale

Given a large sample from a location-scale population we estimate the unknown parameters by means of confidence regions constructed on the basis of two order statistics. The problem of the best choice of those statistics to obtain good estimates, as $n\rightarrow \infty ,$ is considered.     

Demand for litigation in the absence of traditions of rule of law: an example of Ottoman and Habsburg legacies in Romania

The paper investigates the impact of historical legacies of the Habsburg and Ottoman Empires on demand for litigation in contemporary Romania in criminal cases. It finds that nowadays a key difference between these two historical zones is that in the Habsburg counties demand for litigation increases if the income goes up; in the Ottoman counties, however, the demand remains constant. Furthermore, the demand for litigation in poor counties is smaller in Habsburg than in Ottoman counties. We provide several explanations to this phenomenon and compare it to the anecdotal evidence of culture of judicial appeals in other countries.     

Measuring firm performance: Bayesian estimates with good and bad outputs

Set in the airport industry, this paper measures firm performance using both desirable and bad outputs (i.e. airport delays). We first estimate a model that does not include the bad outputs and then a model that includes bad outputs. The results show important differences in the efficiency and productivity results depending on whether bad outputs are or are not included in the model. The differences reflect the resource cost to society and the potential cost to an airport if such externalities were internalized. Finally, the paper provides measures of shadow prices for the bad output, in our case airport delay, and discusses the results in terms of several interesting trends affecting US airports.     

Drivers of the cost of capital: The joint role of non-financial metrics

Recent marketing studies suggest that non-financial metrics, such as customer satisfaction and brand value, help explain the variation in the cost of equity and the cost of debt. These studies typically focus on only one non-financial metric and one component of capital cost. In this study, we broaden the understanding of the relevance of non-financial metrics to the cost of capital. We investigate the joint role of customer satisfaction, brand value, and corporate reputation for stock market beta and credit ratings, which reflect variation in equity and debt risk premiums across firms. In addition to the joint direct influence of these metrics on capital cost, we also study their interaction effects. We develop a conceptual model to explain the effects on capital costs and test the resulting hypotheses in a broad sample of 344 firms from diverse industries using data from the 1991–2006 period.