Dismissals and match-specific rents

Labor contracts that result in dismissals are quite common in the real world. The question that arises is why employers do not just offer reduced wages instead of asking workers with low realized productivity to leave. This paper argues that such behavior can be explained by workers' understandable unwillingness to agree to contracts that an employer will not have an incentive to honor in the future. Specifically, we construct a matching model in which the employer and the worker are both uncertain about the value the other places on the match. Because the worker's match-specific productivity is the employer's private information, a commitment to pay a wage equal to the worker's value of marginal product is not enforceable. In the absence of a wage guarantee, the employer will offer retained workers wages below their value of marginal product, which causes quits to be inefficiently high. The employer can reduce quits by contractually promising a guaranteed wage to retained workers. Although this will lead to some involuntary dismissals, the loss from dismissals will be less than the gain from lower quits if the wage guarantee is not too high.     

企业教练功能对员工满意度和离职倾向的影响研究

企业教练是一项提升个体绩效的重要管理技术。通过对340名企业管理者的问卷调查,探索了企业教练的四项功能：自我意识启发、心理支持、职业发展和角色规范。在此基础上进一步研究发现了自我意识启发、心理支持和职业发展能够提升员工的工作满意度,心理支持和职业发展能够降低员工的离职倾向。研究结果表明了开展企业教练活动的必要性。     

Effects of budgetary participation conflict on job performance of Mexican and US managers

This study extends the stream of participative budgeting literature by introducing a new variable, Budgetary Participation Conflict (BPC). BPC occurs when the level of budget participation experienced by a manager differs from a desired level. We propose a model where BPC is the independent variable to further evaluate the effect of budget participation on job performance. Using path analysis, we measure the direct effect of BPC on job performance, and the indirect effects between BPC and performance that run through job satisfaction and job tenure in two countries, Mexico and the US.While the results do not indicate that BPC either directly or indirectly affects the performance of US managers, the results indicate that BPC negatively affects the job performance of Mexican managers indirectly through the effects of BPC on job satisfaction and job tenure. The relationship between tenure and performance is much stronger among the Mexican managers than among their US counterparts, which is the largest single difference between the Mexican and US results.     

对我国股市流动性问题的几点思考

本文提出换手率指标不能用来衡量股市流动性,并按国际市场和学术界对流动性的界定对我国股市流动性进行了分析,得出我国股市流动性在国际上处于较低水平;并分析了造成这种状况的原因主要有市场结构、交易机制和监管环境等方面;最后提出了改善我国股市流动性的一些对策。     

国外物流业税收政策的比较与借鉴

在经济全球化迅速发展的今天,物流业的重要性日显突出,许多国家采取包括税收政策在内的各种鼓励措施来促进物流业的发展。本文对国外与物流业相关的流转税和所得税政策进行了比较分析,并对我国建立与完善促进物流业发展的税收政策提出了相关建议。     

Political influence,central bank independence and inflation in Africa: A comparative analysis

This paper develops a new de facto measure of central bank independence (CBI) based on two recent measures of the turnover rates of central bank governors introduced by Vuletin and Zhu (2011), complemented with measures of alliance with the government in power, captured by prior executive appointment, tribe proximity, and political party affiliation. Using 1980–2009 data from 13 countries from the CFA zone (a currency union) and 18 non-CFA countries, the new index is used to 1) examine whether CBI can help achieve price stability in Africa and 2) show how CBI affects African countries that are part of a monetary union. We find that higher turnover rates lead to higher inflation. Our results are robust to the decomposition of the turnover rates into premature removals and ally replacements. Furthermore, we find that for CFA zone countries, central bank autonomy has no effect on inflation and instead inflation is driven by other variables such as the fixed exchange rate regime or commodity price shocks.     

Managing language barriers in the workplace: The roles of job demands and resources on turnover intentions

Immigrants are a considerable growing segment of the hospitality workforce, but with an overwhelming majority of immigrant workers having limited English speaking abilities, hospitality managers are often challenged with communication barriers. The purpose of the current study was to examine the influence of managers’ communication satisfaction with limited English speaking employees on three work-related outcomes that can be influenced by working with limited English employees: role ambiguity, role conflict, and turnover intentions. A survey was completed by 130 hotel and lodging managers. The results of a mediation model showed that satisfaction with the quality of communication with limited English speaking employees reduced role ambiguity and role conflicts, which led to lower turnover intentions. Managers’ turnover intentions are not necessarily a direct effect of the communication quality with their limited English speaking subordinates, but due to the job demands that manifest in an environment with communication barriers, such as confusion and conflicting misunderstandings.     

Thinking job embeddedness not turnover: Towards a better understanding of frontline hotel worker retention

This article reports the findings of a study of 327 Australian hotel frontline employees using a survey of job embeddedness. The research provides a novel application of the job embeddedness construct to the hospitality industry, not only validating the factor structure of the job embeddedness scale, but also investigating the relationship between job embeddedness and other job-related attitudes that influence employee turnover. Findings indicated that a six factor solution is the best explanation. Testing a model of the embeddedness-commitment and embeddedness-turnover relationship, the embeddedness dimensions of organizational sacrifice and community links displayed a positive relationship with organizational commitment. A negative relationship was found between organizational sacrifice and intentions to leave, while a positive relationship was found between community links and intentions to leave. One implication for hospitality managers is that there is an opportunity for hotel organizations to increase the job embeddedness of their employees by increasing the perceived costs of leaving.     

Turnover propensity and its causes among Singapore nurses: an empirical study

Nurse turnover has been a serious challenge to the efficiency and effectiveness of any health-care delivery system. Various antecedents of turnover are examined in this study in attempt to identify the most critical causes of the problem. One hundred and eighty nurses from a large hospital in Singapore participated in the survey. The results show that a) stress strikes throughout different stages in turnover development; b) professional commitment is a significant cause of turnover cognition, but not turnover intention; and c) organizational commitment and supervision satisfaction are among the top predictors of turnover intention. These results deviated from the apprehension of many health administrators about the causes of the nursing turnover, thus provided clues as to how to mitigate the problem. And, as they were compatible with the results of studies on Canadian and American nurses, these results contributed to the empirical generalization process. The implication of the findings is discussed in the paper.     

The impact of the employee-organization relationship on temporary employees' performance and attitude: testing a Singaporean sample

Following the framework proposed by Tsui et al . (1997), this research paper examines the impact of the employee-organization relationship on temporary employees' job performance, turnover intention, overall job satisfaction, affective commitment, perception of fairness and perception of work options. Data were collected from 191 temporary employees from seven employment agencies in Singapore. Analyses conducted revealed that employee responses do vary under the four types of relationship (quasi-spot contract, under-investment, mutual investment and over-investment). In general, both mutual investment and over-investment relationships were associated with higher levels of performance and more favourable attitudes than either the under-investment or quasi-spot contract. Specifically, temporary employees under the mutual investment and over-investment relationships have better job performance, a higher level of affective commitment to the agency, improved overall job satisfaction, higher perception of fairness, higher perception of work options and lower turnover intentions. Furthermore, these finding were obtained even after controlling for the effects of company tenure and job level on employee performance and attitudes. The results highlight the importance of employee-organization relationships in eliciting the desired temporary employee outcomes. Practical implications were drawn for human resource practitioners and employment agencies on how best to manage temporary employees. Some limitations and suggestions for future research were discussed.