Does country matter in urban organic food products consumption?

The main goal of this paper is to evaluate the possibility of finding international consumer segments in the organic food product (OFP) market. For that purpose, the power of country of residence in discriminating between urban frequent, occasional and non‐consumers of OFP was evaluated; and the most appropriate international segmentation bases for that market were studied. In order to achieve this goal, a survey of organic food consumers from Lisbon (Portuguese) and Berlin (German) was implemented through a structured questionnaire. Upon this, factorial and discriminant analysis was applied to the data. The results highlight the significance of the “Country” variable when distinguishing between groups of urban OFP consumers and non‐consumers as well as between frequent and occasional urban OFP consumers. The different levels of OFP consumption are mostly explained by the level of declared “OFP knowledge”. Therefore, we can conclude that in order to increase the consumption of OFP and dilute the effect of the country variable and to be able to work with international segments, marketers should aim to increase awareness and knowledge on these products. It is important to mention that this study was based on a non‐probabilistic sample and, consequently, generalizations of its conclusions must be made with care.     

Fashion consumer profiles in the Portuguese market: involvement,innovativeness, self‐expression and impulsiveness as segmentation criteria

This study identified fashion consumer profiles among Portuguese young adults. The work was based on four constructs: fashion involvement, fashion innovativeness, self‐expression through fashion products and impulsiveness. Another purpose of this study was to test these instruments in this cultural context in order to contribute to the generalizability of the scales. A cluster analysis uncovered three groups: Moderates, Apathetic and Enthusiasts. On the whole, this study proposes a new way of segmenting Portuguese fashion consumers and demonstrates that the four constructs employed can be used in different cultural contexts.     

Frontier markets’ efficiency: mutual information and detrended fluctuation analyses

This study tests weak form efficiency in frontier markets. Mutual information and detrended fluctuation analyses are performed to assess global correlation and long range dependence in the stock markets of twenty three countries. The results indicate that Slovenia is the only case where there is evidence compatible with weak form efficiency. The relatively less inefficient markets are mainly located in Europe and America, and the relatively more inefficient mainly in the Middle East. This information is useful for investors, but also for the assessed countries’ regulators as they indicate that relevant impediments are preventing the exploitation of potential profitable opportunities.

     

Adopt the euro? The GME approach

The objective of this paper is to evaluate the degree of financial integration achieved in the European Union based on covered interest parity and using Generalized Maximum Entropy. EU countries are divided into two groups according to their current situation with respect to the adoption of the euro. Financial integration before the adoption of the euro is analyzed for the countries that adopted the euro in 1999. Similarly, current financial integration is evaluated for non-euro EU countries. Besides the importance of comparing the situation of the non-euro EU countries with the situation of the euro EU countries previous to the euro adoption, which may be useful to evaluate an eventual decision of the non-euro members to adopt the euro, it is interesting to analyze the performance of Generalized Maximum Entropy. Generalized Maximum Entropy has the ability to estimate the parameters of a regression model without imposing any constrains on the probability distribution of errors and it is robust even when we have ill-posed problems. Overall our results suggest that the degree of financial integration on non-euro countries is lower than the degree of financial integration that existed among euro adopting countries before the adoption of the euro.     

Selbstständige Migranten in Deutschland

Die Selbstst?ndigkeit von Personen mit Migrationshintergrund ger?t in den letzten Jahren vermehrt in das Blickfeld von Politikern, Wissenschaftlern und der allgemeinen ?ffentlichkeit. Was aber sind die besonderen Merkmale von selbstst?ndigen Migranten gegenüber selbstst?ndigen Deutschen und wie lassen sich diese Unterschiede erkl?ren? Andreia Tolciu (M.E.S), 27, ist Doktorandin am Hamburgischen WeltWirtschaftsInstitut (HWWI) und Stipendiatin der Stiftung der Deutschen Wirtschaft; Ann-Julia Schaland, 26, Dipl.-Geografin, ist wissenschaftliche Mitarbeiterin in der Migration Research Group am HWWI und Stipendiatin der Edmund Siemers-Stiftung.     

Developing and validating an instrument for measuring managers’ attitudes toward older workers

Three studies were carried out to develop and validate an instrument for measuring managers’ attitudes toward older workers. In the first study we explore (a) managers’ attitudes toward older workers, and (b) retirees’ perceptions about their last experiences before retirement. In the second study, 51 items emerging from the first study and from the literature were developed. The corresponding questionnaire was then applied to a sample of 224 Portuguese managers who were also invited to make decisions in three scenarios involving younger and older workers. The third study replicated the second one with a sample of 249 Brazilian managers. The main findings are: (a) five types of managers’ attitudes toward older workers were identified (adaptability, value of older workers’ competencies, organizational conscientiousness, social capital/generosity and performance); (b) these attitudes predict how managers select older vs. younger workers in hiring and selecting employees to participate in training; (c) the empirical patterns identified in the Portuguese and Brazilian samples are similar; (d) in spite of recognizing positive qualities in older workers, managers discriminate against them; (e) managers develop different attitudinal profiles toward older workers, which has consequences for how they make decisions about those workers.     

On the globalization of stock markets: An application of Vector Error Correction Model,Mutual Information and Singular Spectrum Analysis to the G7 countries

This paper analyzes stock market relationships among the G7 countries between 1973 and 2009 using three different approaches: (i) a linear approach based on cointegration, Vector Error Correction (VECM) and Granger Causality; (ii) a nonlinear approach based on Mutual Information and the Global Correlation Coefficient; and (iii) a nonlinear approach based on Singular Spectrum Analysis (SSA). While the cointegration tests are based on regression models and capture linearities in the data, Mutual Information and Singular Spectrum Analysis capture nonlinear relationships in a non-parametric way. The framework of this paper is based on the notion of market integration and uses stock market correlations and linkages both in price levels and returns. The main results show that significant co-movements occur among most of the G7 countries over the period analyzed and that Mutual Information and the Global Correlation Coefficient actually seem to provide more information about the market relationships than the Vector Error Correction Model and Granger Causality. However, unlike the latter, the direction of causality is difficult to distinguish in Mutual Information and the Global Correlation Coefficient. In this respect, the nonlinear Singular Spectrum Analysis technique displays several advantages, since it enabled us to capture nonlinear causality in both directions, while Granger Causality only captures causality in a linear way. The results also show that stock markets are closely linked both in terms of price levels and returns (as well as lagged returns) over the 36 years analyzed.     

Women and work: what role do social norms play?

Against the background of the current (economic) research which concentrates particularly on individual and structural factors, this paper examines if and to what extent social norms (in terms of attitudes towards gender roles and work commitment) can make a complementary statement in explaining women’s employment status and number of working hours. The impact is presumed to be enhanced through norms shared by people belonging to the same households, peer groups, and by residents of the same region. The analysis relies on a rich German dataset and employs a probit model with sample selection. The results highlight, among other things, the importance of the ‘relevant others’ (particularly partners living in the same household and peers sharing similar social and work characteristics, but not necessarily geographical proximity) in explaining women’s employment status.     

The Economic Dimension of Quality in Tourism: Perceptions of Portuguese Public Decision Makers at the Local Level

A quality assessment scale in tourism was constructed in five dimensions: economic, development, human resources, marketing and product. We presents the research findings for the economic dimension, aiming to understand the perception of Portuguese public decision makers at the local level. Using survey methodology, a sample of Portuguese municipalities was used for data collection. Exploratory and confirmatory factor analyses were performed, and three factors supported quality assessment regarding economics: development strategy (F1), economic factors of demand (F2), and financial incentives (F3). Results focus on the validation of the psychometric properties of this measuring instrument, identifying key issues for future research.     

Revisiting Covered Interest Parity in the European Union: the DCCA Approach

This paper analyzes the evidence of financial integration, with covered interest parity (CIP), for a group of countries that have already adopted the euro and another group of countries that kept their currencies. We use detrended cross-correlation analysis, which allows analyzing the behavior of time series even when they are not stationary. The main results indicate that countries that adopted the euro do not show much evidence in favor of CIP, before joining the Eurozone, which could imply they will not benefit from all common currency advantages. In the group of countries that did not adopt the euro, Denmark, Sweden, the UK and the Czech Republic are the ones presenting better conditions for financial integration with the euro, while Bulgaria has also some evidence of this. Some possible explanations of CIP deviations are agents not considering all countries’ assets as similar and also the underdevelopment of markets and liquidity problems (more pronounced due to periods of turmoil).