Squatting as a transition problem in South Africa

This paper applies principles of transition to land tenure and squatting in South Africa. Political transition in South Africa reassigned political property rights, which produced contestable, and rent‐seeking incentives for squatting as a means to privatize land and redistribute wealth. Government failure to establish and protect private property rights in a squatter camp resulted in common‐pool problems that resisted private and public resolution with consequent rent dissipation and social loss. In response to this retreat from duty, informal agents emerged to claim their own share of the prize. Without enforceable rules of capture, the growth of squatter camps in South Africa will continue. JEL classification: D7, H8, K1, K4, R1, R4.     

Analysis of the US cruise line industry

The cruise line industry has been through a metamorphosis. From being a declining mode of travel in the 1960s, the cruise line industry turned the corner in the 1970s and became one of the fastest growing segments of the wider tourism industry during the 1980s. This paper examines the reasons behind this growth, the current structure of the US cruise industry and the issues facing the industry in the 1990s as it heads towards the next century.     

Operating efficiency of Canadian banks

This article assesses Canadian banks' ability to realize scale economies and cost complementarities in joint production. The Canadian banking system, with its 10 or so large banks and 50 smaller ones, offers a good database for a study of efficiency, especially since previous work suggests that the system's concentration has had little impact on system competitiveness. This article estimates a system of cost and cost share equations using Zellner's iterative seemingly unrelated regression technique, then evaluates scale economies and cost complementarities from the estimated cost functions' first and second partial derivatives. The article compares a model that classifies deposits as inputs with another that classifies them as outputs. The empirical findings indicate that deposits are better modelled as outputs than inputs; that Canadian banks organize to exhaust available sources of scale economies and economies in joint production; and that conclusions regarding scale economies and cost complementarities differ importantly according to whether deposits are modelled as inputs or as outputs.     

Performance lies are hazardous to organizational health

Performance lies arise both from individual and from situational causes, but in this article, the attention is on situational causes. These are generally triggered by loyalty to the coalition, which is expressed through the continued use of performance lies. Because performance lies help create a boundary around the coalition that insulates its activities from top management, performance lies enable members of the coalition to exercise a greater degree of internal control. Naturally, such lies are dysfunctional, resulting in the avoidance of difficult issues and problems and compromising the organization's ability to adapt to a changing environment based on accurate information.     

Transboundary Environmental Problems with Mobile but Heterogeneous Populations

Most of the literature on transboundaryenvironmental problems treats population ineach country or region as constant, ignoringpopulation mobility. We showed previously thatif there is perfect population mobility betweenregions, and populations are homogeneous, asocially efficient outcome can be supported asa Nash equilibrium of the game of uncoordinatedpolicy setting, even without any internationalenvironmental agreement. In the present paperwe introduce heterogeneous population, and showthat when people differ, a non-cooperativeoutcome is generally inefficient. We alsodemonstrate that for a particular set ofobjective functions for the regionalgovernments, there is an equilibrium of thegame of uncoordinated policy setting that isefficient. Finally, we give an example wherethe decentralized outcome is efficient whenthere is no population mobility, butinefficient when there is population mobility.     

The macroeconomic determinants of technology stock price volatility

Stock prices reflect the value of anticipated future profits of companies. Since business cycle conditions impact the future profitability of firms, expectations about the business cycle will affect the current value of firms. This paper uses daily and monthly data from July 1986 to December 2000 to investigate the macroeconomic determinants of US technology stock price conditional volatility. Technology share prices are measured using the Pacific Stock Exchange Technology 100 Index. One of the novel features of this paper is to incorporate a link between technology stock price movements and oil price movements. The empirical results indicate that the conditional volatilities of oil prices, the term premium, and the consumer price index each have a significant impact on the conditional volatility of technology stock prices. Conditional volatilities calculated using daily stock return data display more persistence than conditional volatilities calculated using monthly data. These results further our understanding of the interaction between oil prices and technology share prices and should be of use to investors, hedgers, managers, and policymakers.     

后马歇尔时代聚集经济理论之分析

聚集经济理论主要起源于英国学者阿弗里德.马歇尔(Alfred Marshall)。后马歇尔时代,西方不同的学术流派把聚集经济引申出不同分类,这些分类从不同的角度对聚集经济进行探析。马歇尔理论遗留的很多问题依然亟待解决。     

When work and family collide: ‘Resource Caravans’ of personal and contextual resources in remote work

Research on remote work remains without consensus as to its benefits, with continued questions about which factors may enable it to be more beneficial to employees working remotely. Applying Conservation of Resources theory, we explore the impact of ‘resource caravans’ on ‘work–family balance’ and subsequent ‘well-being’ in a sample of 446 remote workers. Our findings contribute to ongoing sociological debates by showing exactly how flexibility and control play a role in the remote workplace. Specifically, our model revealed that ‘sense of control’ over home was most beneficial for ‘work–family balance’ among experienced remote workers who had high levels of ‘schedule flexibility’, whereas ‘work–family balance’ benefited from lower levels of ‘schedule flexibility’ among new remote workers. Resources from the home domain were most critical for ‘work–family balance’, which mediated the effects of the ‘resource caravan’ from the home domain on overall employee ‘well-being’.