The dynamic relationship between real exchange rates, real interest rates and foreign exchange reserves : empirical evidence from China

This article examines the long-run and short-run relationship between China's real exchange rate, foreign exchange reserves and the real interest rate differential between China and the United States using monthly data from 1980 to 2002. Extensive testing for unit roots allowing for up to two structural breaks in the trend indicates that the variables are not integrated of the same order. Thus, the bounds testing approach to cointegration is used, which finds that there is a single long-run relationship between the three variables. In the long run the real exchange rate has a statistically significant positive effect on foreign exchange reserves. The coefficient on the real interest rate differential is also positive, but is statistically insignificant. In the short-run it is found that the relationship between the real exchange rate, real interest rate differential and foreign exchange reserves is non-monotonic.

The importance of training and education for New Zealand entrepreneurs : some empirical evidence

Entrepreneurship date back thousands of years. Effective workforces require training and education. Entrepreneurs need a thorough training needs analysis before adapting training programmes. Training describes learning activities to improve entrepreneurs' knowledge, skills and abilities to perform and manage effectively. Education improves competency of entrepreneurs. Models are referred to in the literature review. Training and education needs were identified for entrepreneurs to maintain competitive advantage and profit margins. A study done in 2008 in Auckland, New Zealand found that training and education is necessary for entrepreneurs and employees; how they could gain greater efficiencies and increased profit through training of current employees.

Are business cycles stationary fluctuations around a deterministic trend? empirical evidence from 79 developing countries

There is a large literature that tests the univariate time series properties of the real output series following the seminal work of Nelson and Plosser (1982). Whether or not real output is characterized by a unit root process has important implications. A unit root in real output, for instance, is inconsistent with the notion that business cycles are stationary fluctuations around a deterministic trend. In this paper, we investigate the univariate time series properties of real output for 79 developing countries using the conventional augmented Dickey and Fuller (1979) unit root test, the Zivot and Andrews’ (1992) one structural break unit root test, and the Lumsdaine and Papell (1997) two structural breaks unit root test. Our main finding is that, for 40 countries, real output is stationary around a trend. This indicates that business cycles are stationary fluctuations around a deterministic trend for only 51% of the developing countries in our sample.

Challenge to ICT manpower planning under the economic restructuring : empirical evidence from MNCs in Singapore and Taiwan

The study evaluates the issues related to the manpower planning for developing the information, communication and technology (ICT) industry under the economic restructuring in Singapore and Taiwan. Using data collected from 211 multinational companies (MNCs) operating in these two countries, we measured recruitment difficulty and attrition rate experienced by MNCs, and evaluate the extent of ICT skill shortages among the companies surveyed. We found some impact of the nation-pushed ICT manpower planning and development on easing the recruitment difficulty overall at firm level. However, a high attrition rate especially of the low-medium ICT professionals identified in this study may be related to an imbalanced approach taken by the governments to focus on developing high level of science and technology and ICT skills. Implications to the two countries examined and other latecomer countries such as China, India and Vietnam are discussed.

Research framework and empirical evidence of sustainable supply chain

The aim of this research is to conduct a review on the approaches used to assess different criteria on sustainability used by supply chains and to suggest a framework for a methodical approach that would be easy and practical in making complex sustainable assessments. A review was conducted on the present models that are used to examine sustainability within supply chains. A sample of 332 companies mainly from the manufacturing area was examined to determine what criteria they require for assessing sustainable issues amongst their supply chains. A quantitative study using factor analysis and multiple regression were used to analyse the data to determine the statistical significance of the attempted prediction. It was identified that corporate commitment to sustainability, corporate reporting and management systems are significant predictors for green procurement in supply chain management. This framework can be beneficial in implementing environmental sustainable assessments for supply chains. Much of the empirical research on supply chains has focused on business performance, while there is very little empirical work undertaken in the literature on sustainable supply chains, Sustainability within supply chains implies that businesses need to consider the economic, environmental and social impacts of their activities.

A study of older Australians’ volunteering and quality of life : empirical evidence and policy implications

Older Australians are confronted by dramatic changes in their physical, social, financial, and psychological well-being. There are social costs to these changes related to their productivity and increased costs associated with caring for older Australians. Greater community engagement through voluntary work practice may minimize these costs, as well as positively influence volunteers' subjective quality of life (QOL). This study investigates the motivations for older Australians to engage in formal voluntary work. It seeks to identify whether the motivational factors to volunteer are associated with individuals' subjective QOL. The results indicate a positive relationship between older people's motivations to volunteer and their subjective QOL. This association is strengthened by respondents' community orientation, positive perception of voluntary work, positive personal attitudes toward volunteering, and their self-esteem. The role of policy makers in motivating larger participation by the older groups is discussed.

Some empirical evidence on offender time discount rates

The conventional wisdom is that offenders have very high discount rates not only with respect to income and fines but also with respect to time incarcerated. These rates are difficult to measure objectively and the usual approach is to ask subjects hypothetical questions and infer time preference from their answers. In this article, we propose estimating rates at which offenders discount time incarcerated by specifying their equilibrium plea, defined as the discount rate, which equates the time and expected time spent in jail following a guilty plea and a trial. Offenders are assumed to exhibit positive time preference and discount time spent in jail at a constant rate. Our choice of sample is interesting because the offenders are not on bail, punishment is not delayed and the offences are planned therefore conforming to Becker’s model of the decision to commit a crime. Contrary to the discussion in the literature, we do not find evidence of consistently high time discount rates, and therefore cannot unequivocally infer that the prison experience always results in low levels of specific deterrence.

The energy consumption - real GDP nexus revisited : empirical evidence from 93 countries

In this paper, we analyse the long-run relationship between energy consumption and real GDP for 93 countries. We find mixed results on the impact of energy consumption on real GDP, with greater evidence at the country level supporting energy consumption having a negative causal effect on real GDP. For the G6 panel of countries, we find significant evidence that energy consumption negatively Granger causes real GDP. This means that for countries where energy consumption has a negative long-run causal effect on real GDP, energy conversation policies should not retard economic growth. We identify these countries and regional panels. We argue that these countries/regions should play a greater role in reducing carbon dioxide emissions.

Effectiveness of e-recruiting : empirical evidence from the Rosebank business cluster in Auckland, New Zealand

This article focuses on the background of the 'conventional' or 'old' way of recruiting, it reviews different 'new' ways; e-recruiting and its effectiveness; advantages such as accessibility and disadvantages such as transgression of some legislation in e-recruiting and the impact it has on management. Face-to-face interviews were conducted with 102 companies within that population. A 36- question questionnaire was used and we employed random stratified cluster sampling. Research done in Auckland's Rosebank Business Precinct (New Zealand) revealed that for certain job categories e-recruitment is effective. E-recruitment is revolutionising the way employers hire employees. Some implications for managers are pointed out such as the need to be trained for these changes; it can save a lot of money on advertisements; the savings could be used to develop careers or training for employees. The recommendations suggest that the HR objectives have to align with the organisational objectives to ensure that they recruit, select and employ the right candidate for the right job. A flow diagram for e-recruiting was developed by the authors for use by employers.

Academics,think tanks and journalists : the trouble with expert opinion, empirical evidence and bilingual education

This book reports the findings of the Australian News media and Indigenous policymaking 1988-2008 ARC Discovery Project

Education and training deficits in industrial clusters : empirical evidence that managers can use to rectify the skills gap in Auckland precinct

Tertiary institutions should seek continuous feedback from industries to keep track of the needs of businesses to provide education and training. In designing programmes and upgrading curricula, there are important factors to bear in mind so that programmes "cater" for all levels of learners. The Auckland City Council financed this study, focussing on Auckland's Rosebank Business Precinct (ARBP). Surrounding communities, particularly Maori, Pacific peoples and recent migrants, experience disparities in employment. The target population were 500+ businesses operating on Rosebank Road. A total of 529 businesses were identified. Interviews with 102 companies with a 36-question questionnaire were conducted. Areas were identified and covered in this paper in the ARBP for developing programmes and curricula for tertiary institutions to provide employable students with the right knowledge, skills and attributes to grow and manage existing ventures. In the analysis we point out what education or training is necessary for ARBP to provide greater efficiencies and improvement in profit levels. Recommendations and conclusions are provided.

The demand for sentence discounts: some empirical evidence

Sentence discounts are now routinely used by Australian courts to encourage guilty pleas. In this article, the authors examine three populations of not on bail defendants who went to trial and were convicted in New South Wales in 2004 for the offences of aggravated robbery, burglary and murder respectively, with the objective of estimating the percentage reduction in sentence quantum that would have induced them to plead guilty. Since conviction (acquittal) probabilities following a trial are likely to be uniformly distributed between 0 and 1, the expected mean probability of conviction (acquittal) for a defendant pleading not guilty was 0.5. The average reductions in the prison sentence corresponding to this probability were: 21%, 23% and 27% respectively. The maximum (minimum) values were: 39% (1.3%), 40% (1.9%) and 39% (1.5%). This range of values reflects the wide dispersion of actual prison sentences handed down by the courts. The distribution of actual sentence discounts offered by the judges in exchange for a guilty plea is not available, consequently the authors cannot comment on why these defendants chose a trial.