Leisure corrupted: an artist's portrait of leisure in a changing society

Theoretical arguments that leisure is the basis of any culture are available. Yet, scarcity in the literature of serious consideration of leisure in non-Western societies demonstrates that the topic has been neglected. One possible explanation for the failure to achieve progress in cultural comparisons of leisure is the lack of data. At least three approaches permit this type of comparison. This paper focuses on a literary approach by investigating how East Africa's most prominent creative writer, Ngugi wa Thiong'o, treats leisure in his most important English language novels. This analysis centers on two of his novels, A Grain of Wheat and Petals of Blood. The two novels are complex, intricate stories drawing heavily on Western philosophy and literature as well as African folklore. Although Ngugi suggests that leisure is the foundation of civilization, the fibre that makes the cloth of society, he portrays leiusre distinctively in social terms likely to surprise those familiar with Western traditions of leisure.     

Anti-leisure in dystopian fiction: the literature of leisure in the worst of all possible worlds

Literary utopias, i.e. designs for the theoretically perfect society, have been common in Western literature since Plato's The Republic . A variation on this genre which emerged in the nineteenth century is the anti-utopia, or dystopia, in which an author depicts the worst of all possible societies. Dystopias usually exaggerate contemporary social trends and in doing so, offer serious social criticism. This essay examines the treatment of leisure in four widely-read dystopian novels. The leisure described in these novels we call anti-leisure. It is not leisure's opposite, work, but leisure perverted to achieve the perpetuation of tyranny. Such leisure regulates identity, prevents individual thought, impedes self-sufficiency, encourages immoderation, and distracts citizens from social injustice through various compulsory activities. Such novels encourage the re-examination of theories of leisure from a humanistic standpoint.     

Subsidization of S&Ls under the flat-rate deposit insurance system: Some empirical estimates

This study provides some estimates of the magnitude of the subsidies extracted by S&L holding companies under the present flat-rate deposit insurance system. The results suggest that the flat-rate deposit insurance system induces substantially uneven and inequitable distribution of subsidies among thrift institutions. The analysis of the thrift institutions' asset volatilities over the 1966–1988 period does not support the claim that deregulation of the industry has led to a systematic increase in risk-taking in the industry. On the other hand, we find that a large fraction of the asset volatilities are attributable to firm-specific investment policies and that the risk of the institutions' assets change considerably over time. Taken as a whole, the results suggest that switching to a risk-based deposit insurance system would be economically more efficient than the present scheme. We provide some recommendations for policy changes that can increase the efficacy of risk-based insurance by increasing the level of monitoring by depositors and the financial markets.     

Eco-efficiency and firm value

Eco-efficiency refers to a process that seeks to maximize the effectiveness of business processes while minimizing their impacts on the environment. Fundamental to eco-efficiency is adoption of a management philosophy that stimulates the search for environmental improvements that yield parallel economic benefits [President’s Council on Sustainable Development, 1996a. Sustainable America: A New Consensus for Prosperity, Opportunity, and a Healthy Environment. Government Printing Office, Washington DC; President’s Council on Sustainable Development, 1996b. Eco-efficiency: Task Force Report. Government Printing Office, Washington DC; World Business Council for Sustainable Development (WBCSD), 2000. Eco-efficiency: Creating More Value with Less Input. Geneva]. Eco-efficiency is increased by activities that create economic value while continuously reducing ecological impacts and the use of natural resources [DeSimone, L., Popoff, F., 1997. Eco-efficiency: The Business Link To Sustainable Development. MIT Press, Cambridge, MA]. This study empirically examines the proposition that implementation of eco-efficient business strategies is associated with higher firm value. We posit that, firms which adopt eco-efficient business strategies and, as a consequence, achieve reduced costs and increased profits should be more highly valued by the market than similar firms that do not adopt eco-efficient business strategies. Our empirical testing supports this proposition.     

Towards an Understanding of Ethical Behaviour in Small Firms

Allthough small business accounts for over 90% of businesses in U.K. and indeed elsewhere, they remain the largely uncharted area of ethics. There has not been any research based on the perspective of small business owners, to define what echical delemmas they face and how, if at all, they resolve them. This paper explores ethics from the perspective of small business owner, using focus groups and reports on four clearly identifiable themes of ethical delemmas; entrepreneurial activity itself, conflicts of personal values with business needs, social responsibility and the impact of owners' personality on business ethics. The mechanisms for resolving ethical dilemmas is not at all clear, as there appears to be a web of filters which are used in an inter-connected way. However a common starting point for resolving an ethical delemma which involves others is based on identifying who it is (e.g., a friend or institution) and the quality of the relationship with that person. The research yielded a rich source of material on business ethics and it is clear that future researchers must focus on this sector if business ethics is to make significant advances.     

How to make sure your donors read your publications

Voluntary organisations pour large chunks of their usually slender resources into producing publications in the hope that these will carry their many promotional messages to a variety of audiences, particularly donors and other supporters. The authors feel that little is known about how donors view and use these publications and whether or not their senders get good value for money. This paper presents an outline of findings from research recently commissioned by the authors into how donors read and use the publications and other printed communications sent to them by charities they support. The conclusion is that many charities could take simple actions to improve their publications, and some suggestions are made. From the authors' experience they supply guidelines charities can follow if they wish to change the way donors perceive, read, enjoy, remember and respond to the publications they send. Also included is a checklist for basic strategic planning so that any charity can ensure that tomorrow's donors will receive communications based not just on what the charity wants to send, but also on what the intended audience wants to receive.     

Species Invasion as Catastrophe: The Case of the Brown Tree Snake

This paper develops a two-stage model for the optimal management of a potential invasive species. The arrival of an invasive species is modeled as an irreversible event with an uncertain arrival time. The model is solved in two stages, beginning with the post-invasion stage. Once the arrival occurs, the optimal path of species removal is that which minimizes the present value of damage and removal costs plus the expected present value of prevention costs. An expenditure-dependent, conditional hazard rate describing species arrival is developed based on discussions with natural resource managers. We solve for the optimal sequence of prevention expenditures, given the minimum invasion penalty as just described. For the case of the Brown Tree Snake potentially invading Hawaii, we find that pre-invasion expenditures on prevention are inverse U-shaped in the hazard rate. Efficient prevention should be approximately $2.9?million today and held constant until invasion. Once invasion occurs, optimal prevention requires $3.1?million annually and $1.6?million per year on species removal to keep the population at its steady state level, due to high search costs at very small population levels.     

An Empirical Study of International Spillover of Sovereign Risk to Bank Credit Risk

The severity and complexity of the recent financial crisis has motivated the need for understanding the relationships between sovereign ratings and bank credit ratings. This is the first study to examine the impact of the “international” spillover of sovereign risk to bank credit risk through both a ratings channel and an asset holdings channel. In the first case, the downgrade of sovereign ratings in GIIPS (Greece, Italy, Ireland, Portugal, and Spain) countries leads to rating downgrades of banks in the peripheral countries. The second channel indicates that larger asset holdings of GIIPS debt increases the credit risk of cross‐border banks, and hence, the probabilities of downgrade.     

Factors Affecting Motivation to Transfer Training

This study examines the relationship of motivation to transfer skills and knowledge learned in a computer-based training programme with five groups of variables: individual or general attitudes, situational specific attitudes, reactions, learning, and work environment factors. Hierarchical regression analysis produced a model which explained 60.5% of the variance in motivation to transfer. Individual attitudes and environmental variables explained most of the variance in motivation. A number of mediated relationships were suggested.