All work intensity is not created equal: Effort motives,job satisfaction and quit intentions at a grocery chain

Prior research has shown that the well-being of employees engaged in intensive work can vary with the discretion their jobs afford regarding how and when to carry out the work. This article explores a different avenue. It argues that well-being also varies with employees’ individual motives for working intensively. The article introduces self-determination theory to the domain of work intensity and focuses on two hypotheses. The first is whether intensive work driven by explicit or implicit incentives is more positively associated with an employee's job satisfaction than intensive work driven by job demands. The second is whether intensive work driven by intrinsic motives is more positively associated with job satisfaction than that driven by explicit or implicit incentives. In both these cases, the article also examines whether equivalent effects exist on (reduced) quit intentions. Original data from a major Greek grocery chain provide corroborative evidence that is robust to a rich set of covariates, including increasingly demanding adjustments for job discretion. The findings contribute to a more complete understanding of why differences in well-being exist among employees performing intensive work, with implications for workers and employers.     

Can investors time their exposure to private equity?

Private equity performance, both for buyouts and venture capital, has been highly cyclical: periods of high fundraising have been followed by periods of low performance. Despite this seemingly predictable variation, we find modest gains, at best, to pursuing realistic, investable strategies that time capital commitments to private equity. This occurs, in part, because investors can only time their commitments to funds; they cannot time when commitments are called or when investments are exited. There is a high degree of time-series correlation in net cash flows even across commitment strategies that allocate capital in a very different manner over time.     

The Great Recession,Austerity and Inequality: Lessons from Ireland

The advent of the Great Recession and the widespread adoption of fiscal austerity policies have heightened concern about inequality and its effects. We examine how the distribution of income in Ireland—a country which experienced one of the most severe economic contractions—has evolved over the years 2008 to 2013. Standard cross‐sectional analysis of the income distribution shows broad stability in the Gini coefficient and in decile shares, with one main exception: the share of the bottom decile fell sharply, with the largest fall in average incomes being for that group. Longitudinal analysis shows that the falls in the average income for the bottom decile were not due to decreasing income for those remaining in the bottom decile, but to falls in income from those initially located in higher deciles. The extent of redistribution through taxes and transfers increased strongly, as measured by the Reynolds‐Smolensky index, which rose from 0.20 before the onset of the crisis to 0.27 in 2013. Analysis indicates that about three‐quarters of this increased redistribution is due to automatic stabilisers and one‐quarter to discretionary policy changes.     

Ag econ angst crisis revisited

The present paper was inspired by and is a response to the Rola-Rubzen, Hardaker and Dillon paper 'Agricultural economists and world poverty: progress and prospects' (Rola-Rubzen et al. 2001). It is agreed that the position of agricultural economists in foreign aid and poverty programs has declined over recent decades. Such a feeling of guilt and remorse expressed by the above authors does indeed create considerable 'angst'. A major reason for this state of affairs lies in 'the flavour of the month' approach of the development agencies. These include women in development, gender-based farming systems research, household nutrition and food security, people participation, and targeting the poorest of the poor. These fads have driven disciplinary considerations to the wall and the more widely-defined objectives have reduced the drive for economic efficiency. We argue there is still a place for better designed and delivered assistance programs within the wider framework of assistance that has become fashionable. Greater application of institutional principles in both the political processes associated with assistance and the implementation agencies would improve the outcomes of many projects. Particular attention would need to be given to the interface between the development agencies and recipient governments. The present paper picks up on the market failure aspects of agriculture's rather poor contribution to development, and develops a wider perspective in terms of the new institutional economics and a continuing role for the agricultural economist.     

Battles in the costing war: UK debates, 1950-75

In the UK, 1950-75 was a lively period in the long-running debates between proponents of absorption and marginal costing. In the nexus of competing interests, management accountants advocated and defended rival costing systems with much vigour and passion. Expressed in the language of the times, these debates were 'battles' in the costing 'war'. We focus on these battles, analysing the various forces that operated upon the combatants, and locate them in the wider costing war. We conclude that no final resolution of the conflict was achieved in the twentieth century, nor is one likely in the foreseeable future.     

Labour-market reforms in transition economies

Several lessons can be drawn from the natural experiments ofcentral and eastern European countries with labour-market policies.Two of them are particularly relevant also for OECD countries.First, it is not wise to reduce the duration of unemploymentbenefits when the length of unemployment spells are on the rise,unless (I) unemployment is still low and there is the administrativecapacity to implement active labour-market policies on a widescale or (ii) there are income support schemes of the last resortin place and an administration capable of cost-effectively enforcingwork-tests for those falling off unemployment benefit compensationrolls. The second and perhaps more positive lesson in the lightof the above is that it is possible to transform institutionand create an efficient policy delivery mechanism within a shorttime span.     

Hispanic Ethnicity,English‐Skill Investments,and Earnings

Analyzing synthetic cohorts in the 1980 and 1990 Public Use Microdata Samples, we find that Mexican‐Americans and other Hispanics acquired English fluency at a faster pace than Puerto Ricans and Cuban‐Americans during the 1980s. Additional results indicate that English‐skill investments differently influenced the earnings distributions of these ethnic groups.     

Simulating the Evolution of the Implied Distribution

Motivated by the implied stochastic volatility literature (Britten–Jones and Neuberger, forthcoming; Derman and Kani, 1997; Ledoit and Santa–Clara, 1998) this paper proposes a new and general method for constructing smile–consistent stochastic volatility models. The method is developed by recognising that option pricing and hedging can be accomplished via the simulation of the implied risk neutral distribution. We devise an algorithm for the simulation of the implied distribution, when the first two moments change over time. The algorithm can be implemented easily, and it is based on an economic interpretation of the concept of mixture of distributions. It can also be generalised to cases where more complicated forms for the mixture are assumed.     

Embodied ethics: Some common concerns of religion and business

De George's understanding of theology is limited to one of five commonly recognized models of theology, the orthodox model. This model is vulnerable to De George's criticisms. When religious ethics operates out of the revisionist model of theology, however, his criticisms lose their sting. Revisionist religious ethics, moreover, can make a fruitful contribution to business ethics. Such a religious ethic acknowledges the embodiment dimension of business activities, it complements philosophical analysis with the practice of moral discernment, and it recognizes irony as an active component in decision-making.John T. Leahy is an Associate Professor of Religious Studies at DePaul University.