The impact of equity markets and corporate governance on labour market flexibility

Drawing from various literatures, this article explores links between equity markets and labour market flexibility. Various data sources are used to test relationships for a set of OECD countries, controlling for other likely influences on flexibility such as government and industrial relations institutions. The results are generally supportive as regards employment flexibility: equity market trading activity is associated with shorter job tenure, higher activity rates, and greater employment change over the cycle. However, the relationship between equity markets and pay flexibility is less statistically robust to the addition of controls.

Right-wing authoritarianism, social dominance orientation and prejudice against threatening and competitive ethnic groups

This research rests on the assumption that individual differences approaches to prejudice benefit from all integration of intergroup factors. Following Duckitt (2001), we assumed that two prominent individual differences variables, right-wing authoritarianism (RWA) and social dominance orientation (SDO), would differentially predict majority members' levels of ethnic prejudice depending on specific factors of the intergroup context: RWA as all index of motivational concerns about social cohesion, stability and security should drive prejudice against outgroups perceived as socially threatening, and SDO as an index of concerns about ingroup superiority and dominance should predict prejudice against outgroups perceived as potential competitors for power-status. Across two studies (Ns = 82, 176), using between-participants and within-participants experimental designs, the effects of RWA on prejudice were particularly powerful when the outgroup was manipulated to be socially threatening, but the effects of SDO on prejudice appeared not to increase when the outgroup was manipulated to be competitive. In Study 2, presenting the outgroup as having low status also increased the effect of RWA, but not the effect of SDO. These results support the differential prediction assumption for RWA, but not for SDO. Implications for the conceptualisation of RWA and SDO are discussed. Copyright (C) 2008 John Wiley & Sons, Ltd.

Factor markets in England before the Black Death

Modern English factor markets originated during the two centuries of active commercialization that preceded the Black Death. An active labour market was established by the late twelfth century. Evolution of a land market followed the legal reforms of the 1170s and 1180s, which created legally secure and defensible property rights in land. These rights stimulated growth of a capital market, since land became a security against which credit could be obtained. Nevertheless, none of these nascent factor markets functioned unconstrained and each became embedded in legal, tenurial, and institutional complexities and rigidities which it took later generations centuries to reform.

Developing a model of innovation implementation for UK SMEs: A path analysis and explanatory case analysis

Continuous large-scale changes in technology and the globalization of markets have resulted in the need for many SMEs to use innovation as a means of seeking competitive advantage where innovation includes both technological and organizational perspectives (Tapscott, 2009). However, there is a paucity of systematic and empirical research relating to the implementation of innovation management in the context of SMEs. The aim of this article is to redress this imbalance via an empirical study created to develop and test a model of innovation implementation in SMEs. This study uses Structural Equation Modelling (SEM) to test the plausibility of an innovation model, developed from earlier studies, as the basis of a questionnaire survey of 395 SMEs in the UK. The resultant model and construct relationship results are further probed using an explanatory multiple case analysis to explore ‘how’ and ‘why’ type questions within the model and construct relationships. The findings show that the
effects of leadership, people and culture on innovation implementation are mediated by business improvement activities relating to Total Quality Management/Continuous Improvement (TQM/CI) and product and process developments. It is concluded that SMEs have an opportunity to leverage existing quality and process improvement activities to move beyond continuous
improvement outcomes towards effective innovation implementation. The article concludes by suggesting areas suitable for further research.

Increasing Returns and Competitive Equilibrium--The Content and Development of Marshall's Theory

This paper reviews Alfred Marshall's attempts to reconcile increasing returns and competition from the early economic writings to the later editions of his Principles. It is shown that while Marshall's final solution to the problem involved naming external economies the cause of increasing returns in a regime of competition , both the life cycle of the firm and internal economies remained necessary to his argument. Their function was to give some operation al content to the elusive concept of external economies.