'High-performance' Management Practices, Working Hours and Work–Life Balance

The effects of selected high‐performance practices and working hours on work–life balance are analysed with data from national surveys of British employees in 1992 and 2000. Alongside long hours, which are a constant source of negative job‐to‐home spillover, certain ‘high‐performance’ practices have become more strongly related to negative spillover during this period. Surprisingly, dual‐earner couples are not especially liable to spillover — if anything, less so than single‐earner couples. Additionally, the presence of young children has become less important over time. Overall, the results suggest a conflict between high‐performance practices and work‐life balance policies.     

An Empirical Analysis of Entrant and Incumbent Bidding in Road Construction Auctions

This paper explores differences in the bidding patterns of entrants and incumbents in road construction auctions. We find that entrants bid more aggressively and win auctions with significantly lower bids than incumbents. The differences in their bidding patterns are consistent with a model of auctions in which the distribution of an entrant's costs exhibits greater dispersion than that of an incumbent's and relations of stochastic dominance in the distributions do not persist for the entire range of estimated costs. We also find that more efficient firms bid, on average, more aggressively and firms with greater backlogs bid less aggressively.     

Strategy as Simulacra? A Radical Reflexive Look at the Discipline and Practice of Strategy*

ABSTRACT Over the past three decades strategic management has become a crucial aspect of business education and practice. At the core of strategic management – linking technique to worldview – is modelling (e.g. value chain, SWOT analysis) whereby the complex elements of strategic thinking are simplified. This accounts in large part for the apparent popularity of strategic management as complex interrelationships are pursued through relatively simple models. Yet has the field of strategic management realized the third order of simulacra? Is strategic management a model of simulation whereby reality has been replaced by hyperreality? A review of the extant literature on strategy explores the study and practice of strategy as a discourse, engulfed by its own truth effects. An examination of the concepts of reflexivity demonstrates the value of a postmodern radical reflexive account through the application of Baudrillard's (1983 , 1988 , 1991 , 1994 ) simulation and simulacra. It is through the development of a radical reflexive discourse of strategy as simulacra, this paper critically examines the study and practice of strategy and the lessons we can take from this perspective.     

The fleeting nature of permanent reinvestment: Accounting for the undistributed earnings of foreign subsidiaries

Over the last decade, an increasing percentage of the profits reported by U.S. corporations were earned by their foreign subsidiaries and retained outside the United States resulting in the deferral of income taxes. The American Jobs Creation Act of 2004 provided a temporary federal tax incentive to remit such earnings, which resulted in the repatriation of $140 billion by the 30 firms comprising the Dow Jones Industrial Average. An analysis of the financial reporting disclosures made by these firms reveals that a tax expense was not fully recognized on a substantial portion of the earnings until repatriation because of an exception for foreign reinvestments deemed to be essentially permanent in duration. The implications of the currently acceptable accounting for undistributed foreign earnings are discussed as well as recommendations to improve the relevancy and reliability of the disclosures required for this exception to comprehensive recognition of deferred taxes.     

Socio‐economic distance and spatial patterns in unemployment

This paper examines the spatial patterns of unemployment in Chicago between 1980 and 1990. We study unemployment clustering with respect to different social and economic distance metrics that reflect the structure of agents' social networks. Specifically, we use physical distance, travel time, and differences in ethnic and occupational distribution between locations. Our goal is to determine whether our estimates of spatial dependence are consistent with models in which agents' employment status is affected by information exchanged locally within their social networks. We present non‐parametric estimates of correlation across Census tracts as a function of each distance metric as well as pairs of metrics, both for unemployment rate itself and after conditioning on a set of tract characteristics. Our results indicate that there is a strong positive and statistically significant degree of spatial dependence in the distribution of raw unemployment rates, for all our metrics. However, once we condition on a set of covariates, most of the spatial autocorrelation is eliminated, with the exception of physical and occupational distance. Racial and ethnic composition variables are the single most important factor in explaining the observed correlation patterns. Copyright © 2002 John Wiley & Sons, Ltd.     

Institutional Investors' Preferences for REIT Stocks

This article investigates the determinants of real estate investment trusts (REIT) portfolio investment and institutional REIT ownership using multivariate Tobit regressions. We contend that many institutional investors take larger positions in more liquid assets like REIT stocks, as compared with private real estate equities, because of liquidity considerations. Consistent with this contention, we find that liquidity constraints are significantly related to REIT portfolio investment by institutional investors. We also find that institutional investors have different preferences for REIT stocks than do other investors; they generally prefer larger, more liquid REIT stocks.     

Demographic and Economic Pressure on Emigration out of Africa*

Two of the main forces driving European emigration in the late nineteenth century were real wage gaps between sending and receiving regions and demographic booms in the low‐wage sending regions. Our new estimates of net migration for the countries of sub‐Saharan Africa show that exactly the same forces driving African across‐border migration are at work today. The results suggest that rapid growth in the cohort of potential young emigrants, population pressure on the resource base, and slow economic growth are likely to intensify the pressure for migration out of Africa and into high‐wage OECD countries over the next two decades.     

Incentives, Choice, and Accountability in the Provision of Public Services

This paper discusses a theoretical framework to study the issuesof competition and incentives without relying on the standardprofit-oriented ‘market’ model in the context ofthe debates about public-service reform in the UK. It uses theidea that the production of public services coheres around amission, and discusses how decentralized service provision canraise productivity by matching motivated workers to their preferredmissions. Our focus on competition and incentives cuts acrosstraditional debates about public versus private ownership andallows for the possibility of involving private non-profit organizations.We also address concerns about the consequences of allowingmore flexibility in mission design and competition on inequality.