Size, value and liquidity. Do They Really Matter on an Emerging Stock Market?

The paper extends the evidence on factors determining stock prices on emerging markets by focusing on the most advanced stock market in Central and Eastern Europe, the Polish market. Besides market, size and value factors, we investigate whether liquidity is a priced risk factor, addressing the hypothesis of its particular relevance in emerging markets. Our results support existing evidence for developed markets regarding market, size, and value factors. Contrary to the expectation that liquidity is a priced factor on emerging markets, we do not find evidence supporting this hypothesis. Analyzing specific market characteristics, we consider possible explanations behind these findings.     

Assessing the application of SeaWiFS ocean color algorithms to Lake Erie

The feasibility of satellite-based monitoring of phytoplankton chlorophyll a concentrations in Lake Erie is assessed by applying globally calibrated, ocean-derived color algorithms to spatially and temporally collocated measurements of SeaWiFS remote sensing reflectance. Satellite-based chlorophyll a retrievals were compared with fluorescence-based measurements of chlorophyll a from 68 field samples collected across the lake between 1998 and 2002. Twelve ocean-derived color algorithms, one regional algorithm derived for the Baltic Sea's Case 2 waters, and a set of regional algorithms developed for the western, central and eastern basins of Lake Erie were considered. While none of the ocean-derived algorithms performed adequately, the outlook for the success of regionally calibrated and validated algorithms, with forms similar to the ocean-derived algorithms, is promising over the eastern basin and possibly the central basin of the lake. In the western basin, each of the regional algorithms considered performed poorly, indicating that alternative approaches to algorithm development, or to satellite data screening and analysis procedures will be needed.     

Journey to Magnet: cost vs. benefits

As hospitals and health systems strive to be an "Employer of Choice", one important goal for their nursing leaders has been the decision to embark on their journey of becoming a designated Magnet facility. Approximately 12 months ago, conversations with a few chief nursing executives uncovered a hot topic concerning the achievement/designation of Magnet status and specifically its cost benefits. With more and more hospitals obtaining Magnet status, these nurse leaders did not know how other organizations felt about their journey including outcomes and were very interested in learning more details about their colleagues' experiences.     

Delineating the Model-Stakeholder Gap: Framing Perceptions to Analyse the Information Requirement in River Management

Computer models can support policy development in environmental management, but often suffer from a lack of practical application. This is part due to a ‘gap’ between the ways in which various participants in the policy process deal with information. The framework described in this paper provides a structured approach to information analysis in policy processes. The awareness of differences in the nature of information helps in dealing with different perceptions and actor backgrounds during this policy process because it allows a better match between the information needs and the tools or procedures that are applied. Construal level theory, originating from consumer psychology, can account for some differences that remained unaddressed so far and forms a key component of this framework. Application of the framework to the Dutch Maas case shows that a gap between the model and its users is unavoidable; model applications are dominated by the fairly technical conceptions which modelers have of the system, and fail to address high level construals brought up by the stakeholders. Application of the framework can support the match between mutual expectations of modelers and users.     

Challenges for the boundaryless career odyssey

The boundaryless career, which challenges the assumptions of the traditional hierarchical career, has proved to be a remarkably popular and influential concept. However, we argue that it remains theoretically and empirically undeveloped, which limits its explanatory potential. We draw on some New Zealand empirical research highlighting the issue of who gets studied. Focusing on women's career experience, local ethnic groups and collective cultures we argue that these experiences represent a challenge to boundaryless career theory. Some of the theoretical assumptions on which boundaryless careers have been built are also interrogated: freedom from boundaries, individual volition and minimal influences from societal structures. We conclude that the boundaryless career story/odyssey is in danger of becoming a narrow career theory applicable only to the minority, if there is no engagement with theoretical and empirical critiques.     

Satisfied with red tape? Leadership,civic duty,and career intention in the military

We examine how the coerciveness of HR procedures and leadership behaviours affect job satisfaction (JS) and career intention (CI), and how civic duty (CD) mediates these relationships. Within the framework of the human resource management performance chain, we draw on leadership and motivational theories and test the proposed relations in a structural equation model with data from a survey of the Federal Armed Forces Germany (n = 1,331). The findings show that the behaviour of supervisors, rather than red tape, influences JS and CI. The results extend our understanding of the interplay between leadership behaviours and followership attitudes under high degrees of organizational coercion.     

Market Integration and Market Efficiency under Seasonal Tariff Rate Quotas

Switzerland applies seasonal tariff rate quotas (TRQs) for the import of many fruits and vegetables during the domestic harvest season. We examine how this system affects the relationship between Italian and Swiss tomato prices and test for physical market integration and spatial equilibrium conditions over time. We use detailed, transaction‐based data on trade flows and trade costs and estimate an extended parity bounds model, following Barrett and Li (2002). We confirm that in the summer season, when TRQs are in place, markets are inefficient. While quota holders receive positive rents, the marginal rents for importers without quota shares are negative. This inhibits trade flows above the in‐quota import quantity allowed by TRQs. Hence, despite leading to inefficiencies and creating rents for importers, seasonal TRQs are effective in protecting domestic production against competing imports.     

A scale for measuring attitude toward private label products and an examination of its psychological and behavioral correlates

A measure of consumers’ attitude toward private label brands is developed, and its psychometric properties are assessed. Predictions are then tested regarding relationships between private label attitude and (1) latent perceptual and sales promotion constructs, and (2) purchase behaviors measured in a field setting. The measure is positively related to value consciousness, deal proneness, and smart-shopper self-perceptions, and negatively related to the propensity to be brand loyal and hold price-quality perceptions. Predictive validity of the private label measure is supported by a positive relationship with private label purchases from a grocery store shopping trip. Despite a positive relationship between the latent constructs of private label attitude and deal proneness, the consumer segment that allocated a high percentage of total purchases to private label products made fewer purchases on sale or with a coupon. These findings suggest that consumers may choose between price-related deals and private label purchases. Scot Burton is professor and Wal-Mart chairholder in the Department of Marketing and Transportation at the University of Arkansas. His research interests include public policy and consumer welfare concerns, consumer price and promotion perceptions, and survey research measurement issues. His work has been published in theJournal of Marketing, theJournal of Marketing Research, theJournal of Consumer Research, theJournal of the Academy of Marketing Science, Public Opinion Quarterly, theJournal of Applied Psychology, and others. Donald R. Lichtenstein is a professor in the Department of Maketing at the University of Colorado. His research interests include consumer processing of price and sales promotion information and consumer welfare issues related to marketplace choice. His work has been published in theJournal of Marketing, theJournal of Marketing Research, theJournal of Consumer Research, and others. Richard G. Netemeyer is a professor in the Department of Marketing, E. J. Ourso College of Business Administration at Louisiana State University (LSU). He received his Ph.D. in business administration from the University of South Carolina in 1986. Since then, he has been a member of the marketing faculty at LSU. His research interests include measurement and scaling, public policy, maladaptive behaviors, and consumer behavior in general. His research has been published in theJournal of Consumer Research, theJournal of Marketing Research, theJournal of Marketing, theJournal of Applied Psychology, theJournal of Public Policy & Marketing, and others. He is also a member of the editorial review boards of theJournal of Consumer Research and theJournal of Public Policy & Marketing. Judith A. Garretson is a Ph. D. candidate in the Department of Marketing and Transportation at the University of Arkansas. Her research interests include promotion issues and public policy and consumer welfare. her work has appeared in theJournal of Public Policy & Marketing, theJournal of Professional Services Marketing, and proceedings of the American Marketing Association and Association for Consumer Research.     

Of Chicken Entrails,Anthropology, and a Realistic Social Science

Barbara Bergmann has advocated direct observation of market behavior by economists. There is a history of such activity in the area of labor market but that experimental work has mainly been conducted by noneconomists. We have followed the lead of these researchers and conducted audits of employment hiring behavior, testing for discrimination on the basis of gender and sex. The technique involves sending matched pairs of job applications. Discrimination was found against female, Greek, and Vietnamese applicants. The paper recommends improvements in experimental design for future audits.