The Layoff Rat Race*

We investigate how discretionary investments in general and specific human capital are affected by the possibility of layoffs. After investments are made, firms may have to lay off workers, and will do so in inverse order of the profit that each worker generates. Greater skill investments, especially in specific human capital, contribute more to a firm's bottom line, so that workers who make those investments will be laid off last. We show that as long as workers' bargaining positions are not too weak, workers invest in specific human capital in order to reduce layoff probabilities. Indeed, workers over‐invest in skill acquisition from a social perspective whenever their bargaining power is strong enough, even though they only receive a share of any investment. More generally, we characterize how equilibrium skill investments are affected by the distribution of worker abilities within firms, the probability that a firm will downsize, and the distribution of employment opportunities in the economy.     

论现行刑法之人文精神——关于人性、人道、人权问题的思考

法律因人的需要而产生，也必然是为了满足人的需要而存在，以人的需求得到满足为归佰．因此．人是法律的核心。掌握人的生杀予夺大权的刑法．更应当将人作为其研究的起点和归宿，树直起尊重人性、提倡人道、保障人权的人文精神。文章拟参照古今中外刑法，探究人性、人道、人权的应有之义．审视我国现行刑法在人文关怀方面的得失，探讨其完善路径。     

In search of the changing role of the corporate human resource function in the international firm

There has been considerable research on the issues of board-level representation by personnel/HR directors and senior HR managers' involvement in strategic decision making. Since the early 1990s there has been a growing interest in international HRM, reflecting the growing recognition that the effective management of human resources internationally is a major determinant of success or failure in international business. There is also evidence that HR constraints often limit the effective implementation of international business strategies. More recently, it has been argued that the more rapid pace of internationalization and globalization leads to a more strategic role for HRM as well as changes in the content of HRM. Yet, while there have been some attempts to integrate international corporate strategy and human resource strategy, surprisingly, the role of the corporate human resources function has been neglected, particularly in the context of the international firm. This article seeks to redress the balance. The question addressed is: what is the role of the corporate HR function in the international firm? To answer these questions empirical research was conducted in thirty UK international firms. We found an emerging agenda for corporate HR in international firms which focuses on senior management development, succession planning and developing a cadre of international managers. We conceptualize this as a strategic concern with developing the core management competences of the organization, and argue that it can be usefully analysed from the perspective of the learning organization.     

Financial repression and external openness in an endogenous growth model

An endogenous growth model has been developed that extends Sidrauski (1967), Roubini and Sala-i-Martin (1992,1995) and Lucas (1988) by combining financial development, human capital investment, and external openness. Financial development and trade liberalization are shown to increase the economic growth rate by increasing the marginal benefits of human capital investment. Expansionary governments are, however, provided with an incentive to increase the money supply growth rate, to repress the financial sector, to close its economy, and to impose a high proportional income tax rate.     

Influence of the sector and the environment on human resource practices' effectiveness

The aim of this work is to examine the effect that human resource practice has on performance. From a database made up of 250 companies in Spain and by means of a regression analysis, we test empirically whether human resource practices generate positive results under any circumstance or if their effectiveness depends on certain contexts. In this respect, focusing the study on the activity sector and the environment, we analyse whether high levels of competition in the environment and service companies constitute more attractive contexts for the adoption of high involvement practices.     

Human resource management approaches in Spanish hotels: An introductory analysis

Although Spain is one of the most important tourism destinations in the world, Spanish tourism firms need to be more competitive in order to continue attracting citizens from other countries and human resource strategies can help. The present study aims to identify the specific human resource practices applied by hotels. The variables of interest are those related to human resource profile (number of employees, nationality and sex) and to human resource strategies (recruitment, hiring and training strategies). A survey of the hotel establishments in the Valencian Autonomous Region shows that a hard human resource approach prevails and that hotels apply the same human resource strategies regardless of their category or competitive strategy (universalistic approach).     

Tourism and economic development: Which investments produce gains for regions?

Across three decades numerous metropolitan regions have made substantial investments in different tourist amenity packages. These investments were made to either capture a portion of the growing tourism market or establish an image that attracted the human capital needed to advance economic development. This article analyzes the returns for the tourism industry and for economic development from different amenity packages and finds those related to sports and amusements generated the most significant gains for regions.     

Variations in human resource management in Asian countries: MNC home-country and host-country effects

This paper investigates the determinants of HRM strategy in a random sample of firms operating in Korea and Taiwan. Both indigenous and foreign-owned firms are studied. HRM strategy is measured in terms of the company's reliance on high-performance, versus more traditional, HRM policies and practices in several different areas, including staffing, employee influence, employee rewards and employee autonomy. Independent variables include the firm's country or region of origin (USA, Japan, Europe, Korea or Taiwan), the host country (Korea or Taiwan) and the internal culture of the firm, as measured by upper management's perception that human resources constitute a significant source of value for the organization. Pronounced differences are found across countries of origin and between the two host countries. Managerial values and various organizational characteristics that serve as control variables are also found to impact on HRM strategy.     

Communicating culture change

Using a case study of a large public sector department the relationship between communication and change in a public sector department and the human resource implications of that relationship are considered. Senior administrators of the department signified their intention to change the culture from one that was considered to be bureaucratic, technically oriented and inward-looking to one more outward-looking, continually learning, more relationship-oriented internally and inclusive of broader ‘whole of government’ objectives such as commercialization, the environment, social justice and community relations. Findings from the research indicate that, despite an objective of shifting to a state of continual change with the mode of communication becoming two-way and dialogic, the communication mechanism has faltered due to a failure to address the need of lower-level staff for a set vision and stated future direction. Implications of these findings are drawn for public sector organizations in general.     

The integration substitute: the role of controls in managing human asset specificity

As the integration solution to the problem of specific assets cannot be replicated on human asset specificity because slavery is illegal, economic theory states that control systems substitute for integration through a balanced structure to help align diverse interests. To understand the intricate design features of the balance, we examine a case‐study firm. For low human asset specificity, the restriction and segregation of usable decision rights link with standards. However, incentives are traced to individuals only to the extent task deviations do not create relevant future costs that are difficult to be self‐corrected. For high specificity, incentives are related to outputs rather than outcomes, because outcome variations reduce the attractiveness of maintaining the balance. Subjective assessment is used as an efficient alternate ‘balancing’ solution and decision control is shared when available subjective data are inadequate.