Leaving studies because of lack of interest: an analysis of the risk factors of school dropouts in Pakistan

Quality & Quantity - Among all the students dropping out of school for different reasons in Pakistan in 2017, nearly 23% of the students dropped out because they were not...     

An empirical test of a correspondence model of expatriate managers' work adjustment

We develop and empirically test a model of expatriate managers' work adjustment. In this model we relate the fit between work-related abilities and needs of expatriate managers as well as the fit between the job requirements of, and incentives associated with, an international assignment to the level of expatriate managers' work adjustment. We test this model with data gathered by means of an electronic survey among 118 German expatriate managers. The empirical findings largely support our theoretical model. The paper enhances our understanding of expatriate managers' work adjustment and its antecedents and contributes to the theoretical and empirical basis of research into expatriate management.     

Japan's International Tourism in the Context of its International Economic Relations

Despite the rapid growth of the Japanese economy, Japan still accounts for a relatively small share of international tourism as a recipient. However, Japan's outward tourism has grown to the point where it is the fourth largest tourism generator. This article analyses the role of tourist flows in Japan's external economic relationships and in the structural adjustments in the Japanese economy needed to correct its perceived external imbalance. Together with the massive and increasing outflows of long-term capital from Japan, increasing outward tourism could become an important factor in achieving external balance. Future policies and forecasts are also analysed.     

Does the Linder effect hold for differentiated agri-food and beverage product trade?

Using a generalized gravity equation, this study tests for the Linder effect in differentiated agri-food product trade, i.e. as the demand structures of two countries become more similar, their trade intensity increases. Two proxies of demand structure, the Balassa index and the absolute value of the difference in per capita Gross Domestic Products (GDPs) of trading partners, are used to capture the Linder effect. In addition, two measures of bilateral trade, the Grubel and Lloyd (GL) index, and the value of bilateral trade are used as the dependent variable. This study investigates the role of the Linder effect in explaining the trade of 37 differentiated agri-food and beverage products categorized into eight product groups: cereals, fresh fish, frozen fish, vegetables, fresh fruit, processed fruit, tea and coffee and alcoholic beverages. The data covers trade across 52 developed and developing countries from 1990 to 2000. The type of proxy used for the Linder effect and the way in which bilateral trade is measured influence the outcome of the statistical tests for the Linder effect. The Linder effect for cereals, frozen fish, vegetables, processed fruits and tea and coffee, using the value of trade as the dependent variable, is often accepted, but it is generally rejected when the GL index is used as the measure of trade intensity. In brief, the results do not provide strong support for the Linder effect in the trade of differentiated agri-food products.     

The Choice and Role of Lockups in IPOs: Evidence from Heterogeneous Lockup Agreements

This paper analyses heterogeneous lockup agreements from the London Stock Market. With hand‐collected data, I compare and contrast absolute‐date lockups with the relative‐date lockups and single lockups versus staggered lockups. This paper tests several potential explanations for the choice of lockup contracts: (i) information asymmetry, (ii) signaling, (iii) agency problem, and (iv) certification. I find strong evidence for information asymmetry and certification (VC and prestigious underwriters) and partial support for agency explanation for the choice of lockups. The insider selling activity and lockup expiration returns are also consistent with asymmetric information, certification and agency hypothesis.     

Information disclosure,CEO overconfidence,and share buyback completion rates

An open market share buyback is not a firm commitment, and there is limited evidence on whether firms repurchase the intended shares. Unlike US studies, we use data from unique UK regulatory and disclosure environment that allows to accurately measure the share buyback completion rates. We show that information disclosure and CEO overconfidence are significant determinants of the share buyback completion rate. In addition, we find that large and widely held firms that conduct subsequent buyback programs and have a past buyback completion reputation exhibit higher completion rates. Finally, we assess whether other CEO characteristics affect buyback completion rates and find that firms with senior CEOs who hold external directorships and have a longer tenure as CEO are more likely to complete the buyback programs. In sum, our results suggest there is a clear relationship between information disclosure, CEO overconfidence, and buyback completion rates.     

Social Media and Purchasing Behavior: A Study of the Mediating Effect of Customer Relationships

Overwhelmed by the use of social media in augmenting human interactions, researchers have developed special interest in understanding the use of social media in developing strong and customized relationships with customers. In line with this, the current study aims to explore the impact of social media on purchasing behavior with mediating effect of customer relationship. The findings indicate that majority of the respondents use social media for purchasing purpose and there is a positive relation between social media and customer relationship, as well as social media and purchasing behavior, with customer relationships fully mediating and enhancing the relationship between social media and purchasing behavior. It has been also found that the majority of the respondents use social media for purchasing purposes. This study offers new insights into the conceptual development and understanding of social media in enhancing customer relationships and affecting purchasing behavior. The study acts as a strong support and aid towards developing and managing global customer relationships through the use of social media.     

Credit cards and aggregate money demand

This paper attempts to assess the effect of the growth in the use of credit cards upon aggregate household money holdings. In an inventory theoretic structure, when individuals have the choice of whether to use a credit card as an alternative means of payments, and with a given income distribution, the aggregate money demand relation is derived. It is shown that the existence of an alternative means of payment changes the predictions on the relevant elasticities from the standard model, and makes them variable over time, and gives some indication of how credit card growth causes shifts in aggregate money demand.     

The case for heterogeneity of cities

The general similarity of the results of comparative statics in a semiclosed and in a fully closed city have been demonstrated by Pines and Sadka (Journal of Urban Economics 20, 1–20, 1986). The objective of this paper is to determine if the consequences of different forms of public regulation of the urban land market are also invariant with respect to the type of city. The conclusion is that while there are well-defined consequences of such controls on metropolitan area and land values in a semiclosed city, the impacts in a fully closed city are generally ambiguous. Therefore, proposals for the introduction of zoning and density regulation have to be city-specific and take into consideration the pattern of land ownership and the extent of leakage of urban land rent income.