Influence of the perception of discrimination on women's work motivation

Nowadays, despite anti-discrimination policies, women suffer frequently from a lack of consideration from their male colleagues, altering their well-being and motivation to work. More precisely, perceived personal or groupal discrimination, could have a distinct influence on work motivation. Previous studies showed that the impact on women varies in function of the type of perceived discrimination (Bourguignon et al. 2006). Based on the self-categorization and the social identity theory, work motivation is differently structured as if employees categorized themselves as individuals or as part of a group. As a result, a different impact from personal and group discrimination on work motivation is expected. Moreover, it has been proved that typical men behavior is heavily associated with competence compared to women behavior (Marchand, Saint-Charles & Corbeil, 2007). Therefore, it is hypothesized that women with more masculine traits will suffer from less perceived discrimination, and work motivation. An online survey was created in order to collect data over work motivation, perceived personal and group discrimination. The respondents were also questioned on typical men and women behavior to determine their gender-conformity. To test our hypotheses, data were collected from 57 women stemming from the labour force, aged from 21 to 63 years old. Results indicate that perceived personal discrimination was negatively related to work motivation and that perceived group discrimination was negatively correlated with masculine behavior. Thereby, our study enhances the importance of work environment, and especially discrimination, on work motivation. This research also corroborates the self-categorization and the social identity theory framework to study these issues.

Corporate Bond Market in the Transition Economy of Vietnam, 1990-2010

Corporate bond appeared early in 1992-1994 in Vietnamese capital markets. However, it is still not popular to both business sector and academic circle. This paper explores different dimensions of Vietnamese corporate bond market using a unique, and perhaps, most complete dataset. State not only intervenes in the bond markets with its powerful budget and policies but also competes directly with enterprises. The dominance of SOEs and large corporations also prevents SMEs from this debt financing vehicle. Whenever a convertible term is available, bondholders are more willing to accept lower fixed income payoff. But they would not likely stick to it. On one hand, prospective bondholders could value the holdings of equity when realized favorably ex ante. On the other hand, the applicable coupon rate for such bond could turn out negative inflationadjusted payoff when tight monetary policy is exercised and the corresponding equity holding turns out valueless, ex post. Given the weak primary market and virtually nonexistent secondary market, the corporate bond market in Vietnam reflects our perception of the relationship-based and rent-seeking behavior in the financial markets. For the corporate bonds to really work, they critically need a higher level of liquidity to become truly tradable financial assets.