The paper discusses the structure, applications, and plausibility of the much-used parallel-case argument for workplace democracy. The argument rests on an analogy between firms and states according to which the justification of democracy in the state implies its justification in the workplace. The contribution of the paper is threefold. First, the argument is illustrated by applying it to two usual objections to workplace democracy, namely, that employees lack the expertise required to run a firm and that only capital suppliers (...) should have a say over the governance of the firm. Second, the structure of the argument is unfolded. Third, two salient similarities between firms and states regarding their internal and external effects and the standing of their members are addressed in order to asses the potential and limits of the argument, as well as three relevant differences regarding the voluntariness of their membership, the narrowness of their goals, and the stiffness of the competition they face. After considering these similarities and differences, the paper contends that the the parallel-case argument provides a sound reason in favor of democracy in the workplace—a reason, however, that needs to be importantly qualified and that is only pro tanto. (shrink)

Workplace democracy is often advocated on two intertwined views. The first is that the authority relation of employee to firm is akin to that of subject to state, such that reasons favoring democracy in the state may likewise apply to the firm. The second is that, when democratic controls are absent in the workplace, employees are liable to objectionable forms of subordination by their bosses, who may then issue arbitrary directives on matters ranging from pay to the allocation of overtime (...) and to relocation and promotion. Daniel Jacob and Christian Neuhäuser have recently submitted these views to careful criticism. They argue that the parallel between firms and states is unwarranted. For, unlike managerial authority, state authority is final. The state grants firms their legal status and subjects their authority to its regulations, which citizens in democracies already control. And they also argue that suitable workplace regulation alongside meaningful exit options may suffice to prevent, with no need for democratization, objectionable forms of workplace subjection. Neither view offers, they resolve, compelling reasons to believe that justice requires that firms be democratic. I here inspect these criticisms in turn, and offer reasons for skepticism. (shrink)

When an employee’s off-duty conduct generates mass social media outrage, managers commonly respond by firing the employee. This, I argue, can be a mistake. The thesis I defend is the following: the fact that a firing would occur in a mass social media outrage context brought about by the employee’s off-duty conduct generates a strong ethical reason weighing against the act. In particular, it contributes to the firing constituting an inappropriate act of blame. Scholars who caution against firing an employee (...) for off-duty conduct have thus far focused primarily on due process related issues or legal concerns pertaining to free speech, lifestyle discrimination, and employment at-will. However, these concerns amount to only a partial, and contingent, diagnosis of what is at issue. I argue that even when due process considerations are met, firings in these contexts can be unjustified. Moreover, even if a business is not concerned with the unethical conduct per se, but is rather strictly concerned with PR, the argument I advance nevertheless provides one important ethical reason that counts against firings in mass social media outrage contexts. Given that managers are often under significant pressure to respond swiftly in cases where an employee is at the center of mass social media outrage, it is especially important that scholars begin to clarify the normative issues. This article builds on the burgeoning philosophical literature on the ethics of blame and provides a novel account of a distinctive ethical concern that arises with firings in mass social media outrage contexts. (shrink)

We investigate the firms’ specific attributes that determine the difference in speed of adjustment (SOA) towards the cash holdings target in the Scandinavian countries: Denmark, Norway and Sweden. We examine whether Scandinavian firms maintain an optimal level of cash holdings and determine if the active cash holdings management is associated with the firms’ higher SOA and lower adjustment costs. Our findings substantiate that a higher level of off-target cost induces professional managers to rebalance their cash level towards (...) the optimal balance of cash holdings. Our results reveal that Scandinavian firms accelerate SOA towards cash targets primarily for the precautionary motive. Moreover, our results show that SOA is heterogeneous across Scandinavian firms based on adjustment cost and deviate cash holdings towards the target mainly with the support of internal financing. Furthermore, our empirical findings show that the SOA of Norwegian firms is significantly higher than the Danish and Swedish firms. (shrink)

In this research, an agent-based model was developed to study the propagation of physical climate shocks through supply chain networks. By combining supply chain and financial models, the study examines the effects of climate shocks on firms’ production capacities and their subsequent impacts on firm default risk. A comprehensive mathematical framework is presented for the simulation of physical risks, their subsequent up- and downstream impacts along the supply chain, and the translation of physical impacts into an increased level of (...) default risk. The results highlight the importance of supply chains as a transmission channel for physical climate risks and emphasize the effectiveness of implementing adaptation measures. Practical examples demonstrate the model’s behavior under different hypothetical climate scenarios and identify the sectors most vulnerable to increases in the frequency and intensity of climate events. Overall, this study provides insights into the transmission dynamics of climate shocks and emphasizes the need for resilience against climate events in supply chain networks. (shrink)

From the legal point of view, "person" is not co-extensive with "human being." Nor is it synonymous with "rational being" or "responsible subject." Much of the confusion surrounding the issue of the firm’s legal personality is due to the tendency to address the matter with only these, all too often conflated, definitions of personhood in mind. On the contrary, when the term "person" is defined in line with its original meaning as "mask" worn in the legal drama, it is easy (...) to see that it is only the capacity to attract legal relations that defines the legal person. This definition, that avoids the undesirable emotional associations and equivocations that often plague the debate, is important for a legally-grounded view of the firm. (shrink)

Political theorists have recently sought to replace the liberal, contractual theory of the firm with a political view that models the authority relation of employee to firm, and its appropriate regulation, on that of subject to state. This view is liable to serious difficulties, however, given existing discontinuities between corporate and civil authority as to their coerciveness, entry and exit conditions, scope, legal standing, and efficiency constraints. I here inspect these, and argue that, albeit in some cases significant, such discontinuities (...) fail to undermine the firm/state analogy, either because they are not significant enough to do so or because the particular trait on which they hinge is not decisive for how authority, in the state and in the firm, should be regulated to be legitimate. A pro tanto requirement exists, I thus argue, that corporate authority be held to regulatory norms comparable to those legitimate states abide by, including civil liberties, rule-of-law constraints, and accountability to subjects. (shrink)

Outplacement dla firm - outplacement w warunkach wzrostu ryzyka i elastyczności organizacji .

Without doubt, the global challenges we are currently facing—above all world poverty and climate change—require collective solutions: states, national and international organizations, firms and business corporations as well as individuals must work together in order to remedy these problems. In this chapter, I discuss climate change mitigation as a collective action problem from the perspective of moral philosophy. In particular, I address and refute three arguments suggesting that business firms and corporations have no moral duty to reduce greenhouse (...) gas emissions: (i) that business corporations are not appropriate addressees of moral demands because they are not moral agents, and (ii) that to the extent that they are moral agents their primary moral obligation is to their owners or shareholders, and (iii) the appeal to the difference principle: that individual business corporations cannot really make a significant difference to successful climate change mitigation. (shrink)

Shirking, the act of avoiding the demands of one’s job, is generally seen as unethical. Drawing on empirical evidence from the sociology of work, I develop a normative conception of shirking as a form of worker resistance against illegitimate managerial power. In doing so, I present a new approach to the political theory of the firm, which is more adversarial and agent-centered than available alternatives. It is more adversarial as it recognizes the political value of counterproductive and disruptive behavior in (...) capitalist firms. It is more agent-centered because it theorizes the firm from the perspective of workers, asking what pro tanto reasons they have to shirk. I show that shirking under the structural domination of capitalism has diagnostic, agential, and epistemic values. The paper contributes to the wider methodological ambition to tailor political theorizing to the positionality of social actors, by shifting attention from the institutional design of the firm to the methods of worker resistance. (shrink)

When this book was first published in 1990, there were massive economic changes in the East and significant economic challenges to the West. This critical analysis of democratic theory discusses the principles and forces that push both socialist and capitalist economies toward a common ground of workplace democratization. This book is a comprehensive approach to the theory and practice of the "Democratic firm" – from philosophical first principles to legal theory and finally to some of the details of financial structure. (...) The argument for economic democracy supports private property, free markets and entrepreneurship for instance, but fundamentally it replaces the employer/employee relationship with democratic membership in the firm. For students, teachers, policy makers and others interested in the application of democracy to the workplace, this book will serve as a manifesto and a standard reference on the topic. (shrink)

Firms strive hard to achieve a high degree of efficiency on the production frontier, and it is where they compete to excel with their competitors. It is observed from previous studies that standardizing some policies and developing strategies could bring efficiency in production of manufacturing firms. New approaches to the measurement of productive efficiencies are being developed, and analysis of the subject is growing exponentially, since firms are now more concerned about the productivity frontier, besides others. This (...) paper analyzes the necessary factors that contribute to the productive efficiency of an organization. A simple model of production function is constructed to understand its essence and thus contributes to the development of a new ratio that defines productive efficiency in terms of maximization of the efficiency factor that is a common issue in industrial and manufacturing organizations. (shrink)

Gender issues are well-researched in the general management literature, particular in studies on new ventures. Unfortunately, gender issues have been largely ignored in the dynamic capabilities literature. We address this gap by analyzing the effects of gender diversity on dynamic capabilities among micro firms. We consider the gender of managers and personnel in 124 Ukrainian tourism micro firms. We examine how a manager’s gender affects the firm’s sensing capacities and investigate how it moderates team gender diversity’s impact on (...) sensing capacities. We also investigate how personnel composition impacts seizing and reconfiguration capacities. We find that female managers have several shortcomings concerning a firm’s sensing capacity but that personnel gender diversity increases this capacity. Team gender diversity has positive effects on a firm’s seizing and reconfiguration abilities. Our study advances research on gender diversity and its impact on firm capabilities and illustrates its relevance for staffing practices in micro firms. (shrink)

Gender issues are well-researched in the general management literature, particular in studies on new ventures. Unfortunately, gender issues have been largely ignored in the dynamic capabilities literature. We address this gap by analyzing the effects of gender diversity on dynamic capabilities among micro firms. We consider the gender of managers and personnel in 124 Ukrainian tourism micro firms. We examine how a manager’s gender affects the firm’s sensing capacities and investigate how it moderates team gender diversity’s impact on (...) sensing capacities. We also investigate how personnel composition impacts seizing and reconfiguration capacities. We find that female managers have several shortcomings concerning a firm’s sensing capacity but that personnel gender diversity increases this capacity. Team gender diversity has positive effects on a firm’s seizing and reconfiguration abilities. Our study advances research on gender diversity and its impact on firm capabilities and illustrates its relevance for staffing practices in micro firms. (shrink)

This paper is aimed at analyzing the effects of banking relationship on performance of Vietnamese firms in Food and Beverage (F&B), one of the highest potential sectors. Panel data of 170 observations covers 34 F&B firms listed in the Vietnam stock exchanges in the period 2014-2018. The fixed effect model (FEM) is applied. The key findings are: First, short-term loan financing, leverage, and fixed asset ratios all negatively impacted on F&B firm performance, while firm size and net profit (...) margin had positive impacts. These findings were consistent with previous studies. Second, the opposite results with previous studies were: (i) negative corelation of ROE and number of banks firms working with, as F&B firms were inefficient in selecting bank partners; (ii) positive relation of short-term liabilities ratio and ROA/ROE, as F&B firms utilize other non-bank liabilities shortly; (iii) foreign ownership had negative relationship with ROA& ROE. Foreign investors did not have significant roles in most F&B firms. Third, long-term borrowing from banks, state ownership and ages all insignificantly correlated with firm performance. Recommendations to F&B firms include: (1) Reduce the short- term loans and fixed assets investment, while increase the cheap equity funding sources via shareholders (2) Be selective in working with banks to have better fees and interest saved with banks. (3) Utilize other short-term liabilities, including payables and advances – the low-cost funding sources. F&B firms have good bargaining powers in requesting advances from their clients. (4) Have smart buy-in strategies on foreign ownership. (shrink)

M. Klimczuk-Kochańska, A. Klimczuk, Outplacement dla pracowników - bariery, potrzeby, czynniki rozwoju (Outplacement for Employees - Barriers, Needs, Growth Factors), Narodowe Forum Doradztwa Kariery, Białystok-Kraków 2012, 140p. -/- .

Workplace democracy is often defined, and has recently been defended, as a form of intra-firm governance in which workers have control rights over management with no ownership requirement on their part. Using the normative tools of republican political theory, the paper examines bargaining power disparities and moral hazard problems resulting from the allocation of control rights and ownership to different groups within democratic firms, with a particular reference to the European codetermination system. With various qualifications related to potentially mitigating (...) factors, such as workforce and shareholder composition or risk aversion and reallocation, the paper contends that forms of workplace democracy in which workers control and own the firm, such as cooperativism, are preferable to other forms, such as codetermination, in which ownership and control rights are formally separated. (shrink)

: Background: In responsible research and innovation (RRI), innovation is seen as a way in which humankind finds solutions for societal issues. However, studies on commercial innovation show that firms respond in a different manner and at a different speed to the same societal issue. This study investigates what role organizational motives play in the product innovation processes of firms when aiming for socially responsible outcomes. Methods: This multiple-case study investigates the motives of food firms for healthier (...) product innovation by interviewing firms about the organizational motives behind product reformulation and innovation. Results: This study highlights the importance of having both instrumental and moral motives in the innovation process when aiming for socially responsible outcomes, and how both these motives interact and contribute to responsible innovation in industry. Furthermore, the study results question the nature of relational motives as a separate category from the other two categories of motives, as suggested by corporate social responsibility (CSR) scholars. Conclusions: If commercial innovation needs to contribute to solutions for societal issues, the importance of moral motives has to be stressed without annihilating the instrumental objectives of firms. Both motives contribute to the success factors of responsible product innovation in industry. (shrink)

This paper explores how talent flow network and the firm life cycle affect the innovative performances of firms. We first established an interorganizational talent flow network with the occupational mobility data available from the public resumes on LinkedIn China. Thereafter, this information was combined with the financial data of China’s listed companies to develop a unique dataset for the time period between 2000 and 2015. The empirical results indicate the following: (1) The breadth and depth of firms’ embedding (...) in the talent flow network positively impact their innovative performances; (2) Younger firms’ innovations are mostly promoted by the breadth of network embedding, but this positive effect weakens as firms increase in age; (3) Mature firms’ innovations are primarily driven by the depth of network embedding, and this positive effect strengthens as firms increase in age. This paper enriches and deepens the studies of talent flow networks, and it provides practical implications for innovation management based on talent flow for various types of firms at different development stages. (shrink)

The firm is a real entity and not an imaginary, fictitious or linguistic entity. This implies that the firm as a whole exhibits a sufficient degree of unity or cohesiveness and is durable and persistent through time. The firm is essentially composed of a particular combination of constituents that are bound together by something that acts as an ontological glue, and is therefore non-reducible to other more basic entities, i.e., to its parts or its members. From our perspective, the firm (...) is not simply an aggregate or a collection. It is a real integrated entity and a dynamic causal system. Institutional and organizational aspects enter the picture. These assertions stand in sharp contrast with mainstream theories of the firm whose proponents are more preoccupied with questions of contractual provisions, vertical integration or opportunism than the general and more fundamental questions related to what firms really are. (shrink)

Organizations are increasingly finding it challenging to balance economic and environmental performance particularly those that face competitive, regulatory and community pressure. With the increasing pressures for environmental sustainability, this calls for the new formulation of strategies by the manufacturers in order to minimize their products and services negative impact on the environment. Hence, Green Human Resource Management (GHRM) continues to be an important research agenda among the researchers. In Palestine, green issues are new and still developing. Constant study is needed (...) to fully understand and update information regarding this area. Objective: The aim of this paper is to explore the views and level of acceptance of GHRM practices among manufacturing firms in Palestine. Results: Through the use of e-mail survey, 121 responses were obtained to generate the results of the study. The result showed GHRM practices have been practiced to somewhat to a greater extent a firms in Palestine. Findings can be extended to study on the issues in further. Academicians and practitioners can apply this result to their research and business strategies on how to improve sustainable performance and to effectively implement GHRM practices. (shrink)

Corporate activities conducted under the banner of creating shared value (CSV) have gained popularity over the last decade, and some MNCs have espoused that CSV has entered the heart of their practices. There has, however, been criticism about the lack of a standard definition of CSV. The purpose of the current study was to develop a working definition of CSV by identifying distinctions between CSV and various conceptions of corporate social responsibility (CSR). We conducted 26 semi-structured interviews with managers and (...) stakeholder representatives of five multinational corporations (MNCs) and three small and medium enterprises (SMEs), all headquartered or rooted in Asia. These firms had received public recognition for their CSV engagement. We compared and contrasted interviewees’ conceptions and descriptions of CSV and traditional CSR (philanthropy) and mapped these against Carroll’s four-layer model of responsible corporate management. Interviewees tended to frame CSV as a sustainable business model that generates social and economic value simultaneously. Traditional CSR was characterized as “giving back” some of the surplus from economic returns. In addition, interviewees described examples of strategic CSR, which involved pump-priming interventions for empowering and enabling stakeholders of the CSV practices of the focal firm to participate in the associated wealth and well-being co-creation. Keywords: Corporate social responsibility, creating shared value, qualitative, Asia. (shrink)

Bariery i wyzwania outplacementu w badaniach firm podlaskich.Andrzej Klimczuk - 2015 - In Michał Skarzyński (ed.), Esp, Czyli Firma Na Zakrȩcie. Outplacement Dla Pracodawców. Narodowe Forum Doradztwa Kariery. pp. 49--81.

This book is a collection and reworking of research done by Pascal Salin since around 1990. Salin is an economist in the tradition of the Austrian school of economics. He emphasizes the centrality of individual choice in an uncertain world in which individual actions interact to produce spontaneous orders. But he is no mere conduit of established ideas. He also offers his own highly original insights honed after a lifetime as an economist, one who has earned the respect in which (...) he is now held by his peers worldwide. The book makes delightful reading. Salin covers a lot of ground in this book, mostly within the topics indicated by the title, though in the final two chapters he goes beyond these and into the foundations of economic science. The book is divided into five parts: (1) firms, markets and competition, (2) globalization and international economic problems, (3) monetary integration, (4) money, finance and economic policies, and (5) foundations of economic theory. (shrink)

Bariery i możliwości rozwoju outplacementu dla firm Andrzej Klimczuk In Michał Skarzyński (ed.), Esp, Czyli Firma Na Zakrȩcie. Outplacement Dla Pracodawców. Narodowe Forum Doradztwa Kariery. pp. 140--143 (2015) .

Jensen and Meckling’s 1976 definition of the firm as a legal fiction which serves as a nexus for contracts between individuals sits well with the Coasean narrative on the firm while at the same time being at odds with it. Available interviews with Jensen shed little light on the origins and meaning of this unusual definition. The paper shows how the definition captured, and was a response to, the American socio-political context of the early and mid-1970s, and traces how Jensen (...) and Meckling employed it once they themselves got immersed in the public debate about corporate responsibility and regulation in the late 1970s and early 1980s. It also considers Jensen and Meckling’s place in the literature on the economics of corporate law developed mostly in the 1980s. (shrink)

Despite growing interest in workplace democracy, the question whether nonworker stakeholders, like suppliers and local communities, warrant inclusion in the governance of democratic companies, as workers do, has been largely neglected. We inspect this question by leaning on the boundary problem in democratic theory. We first argue that the question of who warrants inclusion in democratic workplaces is best addressed by examining why workplace democracy is warranted in the first place, and offer a twofold normative benchmark—addressing objectionable corporate power and (...) upholding efficiency—to assess the principles of democratic inclusion on offer. Against this benchmark, we next argue that the All-Affected Principle is unfit due to its over- and underinclusive extensional results, and that the All-Subjected Principle, whose variants we examine alongside their extensional results, holds more promise when coupled with independent considerations of justice or a constrained variant of the All-Affected Principle. These combinations need not entirely preclude, but speak against, nonworker stakeholder inclusion. (shrink)

Currently, there is a dearth of research, examining how project managers’ leadership styles influence the performance of construction company workers in Cape Town. Other research has discussed this subject on a national or international level. Still, comprehensive data on Cape Town construction firms is lacking. This has prevented local enterprises from understanding the role of their project managers’ leadership styles on employee performance outcomes. This article sought to ascertain how leadership styles influence employee performance in construction firms and (...) to develop a conceptual framework for improving leadership and performance. Through quantitative techniques, 456 questionnaires were distributed at construction sites across Cape Town. Responses were then analysed using an ANOVA test (with the descriptive and regressive methods) and a posthoc test (using the Bonferroni Method) and correlation analysis. The results reveal a statistically significant positive relationship between project managers’ leadership styles and the performance of subordinate employees. These findings have subsequently been used to develop a conceptual framework of leadership quality development tools, including training, empowerment, coaching, participation, and delegation. The research contributes to new knowledge that will promote local project managers’ leadership development, improve employee performance, and in doing so, increase successful project outcomes across the city. (shrink)

The purpose of this paper is to empirically explore how the balance use of performance measurement systems mediate the effects of intellectual capital dimensions including human, organizational and social capital on firm performance. The data were collected from a survey of 448 Vietnamese managers of Information and Communication Technology Sector and proposed hypotheses were tested by using partial least squares regression and a structural modeling technique which is appropriate for highly complex predictive models. Findings from hypotheses tests indicated that (...) class='Hi'>firms with higher level of intellectual capital dimensions place a premium on the balance use of performance measurement systems in a diagnostic and interactive style. Furthermore, the result also provides some evidences that Intellectual capital dimensions effect indirectly on firm performance through performance measurement systems. (shrink)

Abstract: The concept of debt financing has assumed considerable importance in recent years given the fundamental role debts now play in forming the financial structure of corporate firms. Quite evident in the debt finance literature is the juxtaposition between debt financing and corporate performance which suggests that debt financing can influence corporate performance. Against the narrow measures of debt financing which are common with most studies that have been carried out on the debt finance-performance dynamics; we attempted a more (...) robust combination of debt finance choices in modelling for corporate performance. Based on data gleaned from the audited annual reports of fifteen (15) consumer goods firms listed in the Nigerian Stock Exchange (NSE) for the period 2006 to 2017, results of the panel regression technique revealed that total debt, long-term debt and short-term debt to asset ratios positively influence the performance of consumer goods firms in Nigeria. Based on the findings of the study, we recommend, among others, that there is need for the Nigerian firms to rely less on short-term debts, which forms the major part of their leverage, and focus more on developing internal strategies that can help improve their performance. (shrink)

In the recent past, Vietnam has dramatically increased its investment relationship and trade with the United States. At the same time, United States foreign direct investment and trade with China has been decreasing. This is even more significant when we are in a period of internal growth within the United States. Using comparative business system analysis theory and a mixed method approach we conclude that Vietnam is turning into the new China for United States firms due to the fewer (...) differences that exist between their business systems. The Chinese business system has major differences when compared with the economic system of the United States, whereas the Vietnam system has closer resemblance to the United States system. We have laid out inferences of our arguments for future research, particularly in the area of institutional comparative advantage. (shrink)

Exchange rate movement is a mostly debatable issue amongst economists and strategic financial planners in the economies as a vital phenomenon, of every economy in the developing the world. This study sets out to examine the impact of cash conversion cycle, Size, Age, and exchange rate movement on firms’ financial decisions. The estimation used techniques of static panel data analysis in this study; pooled OLS, random effects, and fixed effects. Interaction techniques are applied to check the impact of the (...) exchange rate by multiplying this variable with the main variables of cash conversion cycle, that is receivable in days and payables in days. The results depict there is a significant negative relationship between return on assets and exchanger rate during the period of review while the beta of cash conversion cycle has negative value; age and size are positive and significant at 1% level with return on assets. Therefore, it is recommended that organizations that have some measure to agreement in foreign currencies can adopt some advanced hedging technique to occupy the exchange rate movements risk to improve firm’s performance. (shrink)

We investigate the association between controlling shareholders' ownership (CS_Own) and firms' leverage decisions in the Singaporean context. We examine whether the impact of ownership concentration on leverage differs across excess and lower control. We report that shareholders with excess control prefer leverage financing for an optimal capital structure and focus on value maximisation rather using leverage as a tool of minority shareholders' expropriation. Our analysis shows that firms capital structure significantly influences by the coalition of shareholders particularly decisions (...) about leverage financing in addition to the firms' specific characteristics and institutional arrangements. Our empirical evidence shows that controlling shareholders with a lower fraction of equity are more concerned about limited holding thus prefer leverage over equity financing to inflate their equity stake to protect them from the potential takeovers and mergers. We report that capital structure decisions in Singapore are linked with the trade-off between the controlling shareholders' target of mitigating firm risk and their non-dilution entrenchment needs. Further, we found an inverted U-shaped association between control ownership and leverage financing. In terms of moderating effect of family-controlled ownership, our findings exhibit that leverage financing is less pronounced for family firms in Singapore due to the under-diversified investment portfolio. (shrink)

This study investigated the impact of investor psychological bias on a firm’s market value. In detail, we examined the effect of investor overconfidence (optimism) and loss aversion (pessimism) on firm market value. We also aimed to investigate the moderating effect of corporate governance on the relationship between investor behavior biases and firm market value. This study used a sample of 143 firms listed on the Saudi Stock Exchange over the period from 2012 to 2021. The results suggest that investor (...) overconfidence affects a firm’s value positively. On the other hand, loss aversion is negatively associated with the firm’s market value. Furthermore, we find that corporate governance (measured by board size and board independence) enhances the positive association between overconfidence and firm market value. In contrast, we find that corporate governance seems to marginally mitigate the negative effect of loss aversion. (shrink)

The main thrust of this study is to examine the impact of social cost on the corporate performance of petroleum marketing firms in Nigeria. Ex post facto research design was adopted, secondary sources of data were collected for analysis of results and interpretation of data. The results indicated that social cost positively influences the corporate performance of petroleum marketing firms in Nigeria. Hence, it was recommended that the federal government should mandate all petroleum marketing companies to capture and (...) disclose all quantitative data relating to corporate social responsibility which would serve as a boost to the company performances vis-a-vis increased employee productivity. (shrink)

In this study, I demonstrated that there is a corporate social contract between firms and their host communities. The implication is that the idea of the social contract places corporate social responsibility (CSR) on a conditional pivot, whereby the host communities have to fulfil their own side of the contract in order to merit CSR projects. I examined the implication of the social contract for corrupt and unaccountable host communities. I based my analysis on two philosophical frameworks, namely: one, (...) Constructive Approach CSR (CA-CSR), and two, Restorative Approach CSR (RA-CSR). CA-CSR is hinged on the deontological and utilitarian moral frameworks, while RA-CSR is based on the restorative justice framework. Further, I developed ‘CSR Calculus’ (V = f1+n + K) to determine the value of CSR-due for a host community, in response to Milton Friedman questions of arbitrariness in the formulation of CSR projects. I also demonstrated how the CSR Calculus can be applied to determine the value of CSR owed communities by Micro, Small and Medium scale Enterprises (MSMEs). Finally, I used the ethic ‘leave a better community’ derived from the Annang proverb – Assidsip ye Akwot-kwot ete yak mfin ami afon akan mkpong (Assidsip and Akwot-kwot say make today better than yesterday) to signpost the corporate social contract and demonstrated why it is essential for every firm to commission and decommission its operations in socially responsible manner such that it can bequeath a better future society. (shrink)

Aims: Companies that should operate in competitive business environments must be able to sustain competitive responses over time. Making such responses, however, typically necessitates the firm's managerial capacity to constantly integrate its properties, ensuring that they are all matched with changing market needs. Based on the literature of Knowledge Management and Dynamic managerial capabilities, this paper contributes to our understanding by developing an Integrative Managerial Capabilities concept, which refers to “managers’ ability to orchestrate a firm resource base through the processes (...) of search, selection, configuration and deployment to achieve and sustain a firm competitive response”. Integration mechanisms are described which provide a key managerial capability. According to the literature on strategic management, limited past studies research has focused on facets of the firm's integrative capabilities. In the current literature, there is a notable lack of comprehensive insight into how companies actually orchestrate "integrate" resources and principal to achieve sustained success in complex environments. -/- Method/Approach: To answer the research questions, the study employed two data collection strategies: qualitative interviews; “semi-structured interviews”, and an openended survey, “online questionnaire”. -/- Findings: The relationship among managerial integrative capabilities and various levels of a firm's systemic structure, in particular, has never been clearly explained. The research concludes that the incorporation process is highly relevant to the case study examples, and that middle management can be seen to have a substantial effect on company change as a result of top and lower-level management integration. -/- Originality: this study argued that better and faster integration between the three main integrative mechanisms “search and selection, configuration and deployment” should itself be a potential source of sustained competitive respond; and that usually that integration will need to traverse “high, middle, and low managerial levels” of management structure. Implications: we recommend that future research into managerial integration processes, such as particular types of transition programs, be undertaken. (shrink)

Religious people are expected to believe in their religious creeds faithfully and firmly. How can one acquire such belief? In order to answer that question, I propose a model for all belief-like propositional attitudes. The model differentiates, firstly, between voluntary and involuntary, and, secondly, between categorical and quantitative belief-like attitudes. The whole variety of belief-like attitudes is then reduced into two main groups. The first group combines all voluntary and categorical attitudes, and the second group combines all involuntary and quantitative (...) attitudes. The resultant first-group attitude is called “judgment,” and the second-group attitude—“confidence.” Thus, judgment is the generic voluntary categorical propositional attitude, which can have only two values: “true” or “false.” Confidence is the generic involuntary quantitative attitude, which can have any value between “certainly false” and “certainly true.” A religious person can form the creedal judgment simply by her act of will, while her confidence depends upon the actual content of her doxastic system. However, a person can indirectly increase her confidence in the creedal statement via relevant factors that control her doxastic system. Such factors include corroboration, desirability, and ethicality of the proposition, and also its centrality and entrenchment in the doxastic system. I suggest several practical guidelines for increasing the relevant factors. I claim that the suggested model and the practical guidelines for acquiring the “faithful and firm belief” can be used not only within the religious context, but can also be applied to any propositional beliefs. (shrink)

Głównym celem badań, których wyniki zostały przedstawione w tej publikacji, było zidentyfikowanie barier i potencjałów rozwoju narzędzi outplacementowych: diagnostycznych, szkoleniowych oraz doradczych, w podlaskich przedsiębiorstwach. W pierwszej kolejności zostały zrealizowane badania polegające na analizie danych zastanych metodą desk research. Następnie przeprowadzono badania ilościowe (metodą CATI) oraz jako ich uzupełnienie badania jakościowe z zastosowaniem metody zogniskowanych wywiadów grupowych (FGI) i indywidualnych wywiadów pogłębionych (IDI). W badaniach CATI wśród przedstawicieli przedsiębiorstw wzięło udział 200 osób, podobnie w badaniach przy zastosowaniu tej metody, które (...) zostały przeprowadzone wśród pracowników organizacji, zostało przeprowadzone 200 wywiadów. Ponadto przeprowadzono 6 FGI wśród przedstawicieli przedsiębiorstw i osób pracujących jako psycholodzy, doradcy i trenerzy, także jako pracownicy firm. Zaś 6 wywiadów pogłębionych (IDI) przeprowadzono z przedstawicielami instytucji rynku pracy oraz przedsiębiorcami. (shrink)

In a previous issue of Philosophia Christi, Kirk MacGregor responded to an essay of mine in which I argued for a neo-Molinist account of open theism. The argument demonstrated how, given standard counterfactual semantics, one could derive an “open future square of opposition,” that is, a depiction of the logical relations that hold between future-tense statements from an open theistic standpoint. Conceding the validity of the argument, MacGregor nevertheless sought to deny its soundness by criticizing both its conclusion and the (...) Stalnaker-Lewis semantics on which the argument was based. In this paper, I argue that MacGregor’s reasons for rejecting the open future square, as well as his Molinist alternative to the Stalnaker-Lewis semantics, are uncompelling. (shrink)

This paper analyzes ethical issues relating to lawyer mobility.

This study examines the effects of ownership structure on firm performance in the Vietnamese stock market using a sample of 76 manufacturing companies listed on the Ho Chi Minh Stock Exchange (HOSE) during 2007-2015. Firm performance is measured by Tobin’s Q, and ownership structure is investigated in three different aspects: managerial ownership, block ownership and state ownership.

This month, the AISDL Team was glad to see its continuing effort to raise the voice for conserving wildlife appearing in Pacific Conservation Biology (published by CSIRO/the Australian Academy of Science). The article stipulates the need for weaving humane values with scientific information, leveraging the sociocultural power to harmonize humans with nature. The article articulates the coauthors’ idea of building a funding source to contribute to the nature conservation cause by investing in some listed stocks. Technically, stocks we intend to (...) invest in must possess some key features of (i) having significant growth potential, (ii) containing little environmental risk of potential moral-practical gaps in their CSR missions, and (iii) showing a certain degree of “relevance” with AISDL’s fundamentals. (shrink)

In the article the emotional labor is considered as a process that is determined by peculiarities of work in the tourist sphere. It was suggested 16 components of emotional labour on tourism and hospitality enterprises, their influence on some economic (employee welfare, productivity, employee turnover) and psychological (level of stress, degree of commitment and job satisfaction) indicators is analyzed in terms of staff’s cognitive characteristics and chosen by them emotional strategies of it behavior. The influence of the cognition of an (...) individual on the quality of provided services was substantiated. (shrink)

In general, CEO turnover has been researched widely following numerous studies in developed countries. Nevertheless, the determinants of CEO turnover are still unclear in transition countries of which the legal and regulatory framework are weak and financial systems and corporate govemance are underdeveloped. Therefore, examining determinants of CEO turnover in Vietnam, a transition country, helps to provide more evidence on the efficiency and effectiveness of corporate governance in transition countries. Furthermore, the examination helps to define weaknesses, and it, therefore, could (...) provide guidance to improve corporate governance in Vietnamese enterprises. (shrink)

Social scientists have paid insufficient attention to the role of law in constituting the economic institutions of capitalism. Part of this neglect emanates from inadequate conceptions of the nature of law itself. Spontaneous conceptions of law and property rights that downplay the role of the state are criticized here, because they typically assume relatively small numbers of agents and underplay the complexity and uncertainty in developed capitalist systems. In developed capitalist economies, law is sustained through interaction between private agents, courts (...) and the legislative apparatus. Law is also a key institution for overcoming contracting uncertainties. It is furthermore a part of the power structure of society, and a major means by which power is exercised. This argument is illustrated by considering institutions such as property and the firm. Complex systems of law have played a crucial role in capitalist development and are also vital for developing economies. (shrink)