Exploring the motives and success factors behind female entrepreneurs in India

Quality & Quantity - Encouraging women as entrepreneurs in the recent scenario are the government initiative over the globe. Some women started these small enterprises to support their living...     

Talent management of skilled migrants: propositions and an agenda for future research

This paper unpacks the dominant conceptualizations of talent management (TM) in contemporary academic publications, and considers these in relation to the increasingly important workforce population of skilled international migrants. It postulates that TM approaches are generally built from a relatively narrow human capital-based perspective wherein organizations focus on readily accessible and immediate skills, ignoring the longer term strategic potential of the international workforce of skilled migrants, particularly for multinational enterprises and other international organizations. Through a series of propositions, the paper highlights how organizations, in strategically using a more comprehensive TM lens rather than a human capital lens in approaching the TM of skilled migrants, could benefit from improved HRM performance over time. It also proposes a research agenda, by which future studies might test, explore, and further develop understanding on a more strategic utilization of skilled migrants in organizations.     

Pursuing financial stability under an inflation-targeting regime

We evaluate two main views on pursuing financial stability within a flexible inflation-targeting regime. It appears that potential gains from an activist or precautionary approach to promoting financial stability are highly shock dependent. We find support for the conventional view that concern for financial stability generally warrants a longer target horizon for inflation. The preferred target horizon depends on the financial stability indicator and the shock. An extension of the target horizon favoring financial stability may contribute to relatively higher variation in inflation and output.      

Making sense of different perspectives on career transitions: A review and agenda for future research

Although scholars across numerous disciplines have studied specific types of career transitions, there has been no examination of the career transitions literature as a general phenomenon since Louis' seminal article was published four decades ago. Much has changed in the career landscape in the last forty years, including the number and types of career transitions being made by individuals. Using an inductive approach, the five major theoretical perspectives of career stage, decision-making, adjustment, relational, and identity emerged from our analysis of 242 publications. In this paper, we summarize research on each of these major perspectives on career transitions, recognizing emerging trends and research gaps. Based upon an analysis across these perspectives, we recommend seven major avenues for future research on career transitions.     

Flexible inflation targeting and financial stability: Is it enough to stabilize inflation and output?

We investigate empirically whether a central bank can promote financial stability by stabilizing inflation and output, and whether additional stabilization of asset prices and credit growth would enhance financial stability in particular. We employ an econometric model of the Norwegian economy to investigate the performance of simple interest rate rules that allow a response to asset prices and credit growth, in addition to inflation and output. We find that output stabilization tends to improve financial stability. Additional stabilization of house prices, equity prices and/or credit growth enhances stability in both inflation and output, but has mixed effects on financial stability. In general, financial stability as measured by e.g., asset price volatility improves, while financial stability measured by indicators that depend directly on interest rates deteriorates, mainly because of higher interest rate volatility owing to a more active monetary policy.     

Does the law of one price hold in international financial markets? Evidence from tick data

This paper investigates the validity of the law of one price (LOP) in international financial markets by examining the frequency, size and duration of inter-market price differentials for borrowing and lending services (‘one-way arbitrage’). Using a unique data set for three major capital and foreign exchange markets that covers a period of more than seven months at tick frequency, we find that the LOP holds on average, but numerous economically significant violations of the LOP arise. The duration of these violations is high enough to make it worthwhile searching for one-way arbitrage opportunities in order to minimize borrowing costs and/or maximize earnings on given funds. We also document that such opportunities decline with the pace of the market and increase with market volatility.     

The Value of Household Water Service Quality in Lahore,Pakistan

Most existing literature focuses on the benefits of establishing basic drinking water access for unserved populations, the extensive water supply margin. In contrast, this article examines the intensive margin—the benefits of improving water service to under-served households, a growing population in developing country cities. We use contingent valuation to estimate willingness to pay (WTP) for improved piped water quality and reductions in supply interruptions among a sample of 193 households in Lahore, Pakistan. The distribution of WTP is described using parametric and non-parametric models. Results indicate that households in Lahore are willing to pay about 7.50 to7.50 to 9 per month for piped water supply that is clean and drinkable directly from the tap—comparable to the monthly cost of in-home water treatment, and about three to four times the average monthly water bill for sample households using piped water. Estimates of WTP for reducing supply interruptions are both smaller and more difficult to interpret, since a significant fraction of the estimated WTP distribution for supply improvements is negative. All of our WTP estimates are well below 4% of monthly household income, the World Bank’s benchmark upper bound for affordable water service.     

The Impact of Liquidity on Debt Maturity After a Financial Crisis: Evidence from the Gulf Cooperation Council Region

This article contributes to the existent literature on corporate debt maturity by studying a new channel through which firms may mitigate the effects of a major economic downturn such as the 2008 global financial crisis. More specifically, using a sample of 208 listed firms in the Gulf Cooperation Council (GCC) region, we find that an increase in firms’ current ratios after the crisis is associated with an increase in long-term financing. We also find that a financially constrained firm can still access long-term financing if its current ratio after the crisis is beyond a specific threshold. Additionally, we highlight the differences in the typical drivers of debt structure between GCC countries and industries.     

‘One Stone Is Enough to Drive Away a Hundred Birds’: Peasants,Land and Resistance in Contemporary Afghanistan

Five books on the war in Afghanistan and contemporary Pakhtun life are reviewed from the perspective of the insights they provide into peasant resistance to the Afghan government and the United States. It is argued that while these books are important in improving our understanding of peasant resistance to the US‐led invasion of Afghanistan, with the exception of the monograph by Ahmed they offer only a partial account of the dynamics of resistance, because they fail to adequately integrate the ontology of the Pakhtun into their accounts, and the material foundations of that ontology. The result is that important elements of peasant resistance in Afghanistan are obscured.     

Model Selection for Monetary Policy Analysis: How Important is Empirical Validity?*

We investigate the economic significance of trading off empirical validity of models against other desirable model properties. Our investigation is based on three alternative econometric systems of the supply side, in a model that can be used to discuss optimal monetary policy in Norway. Our results caution against compromising empirical validity when selecting a model for policy analysis. We also find large costs from basing policies on the robust model, or on a suite of models, even when it contains the valid model. This confirms an important role for econometric modelling and evaluation in model choice for policy analysis.