Making connections in a regional city: social capital and the primary social contract

Government policy in many countries encourages migration to regional centres to relieve pressure on major cities and to boost economic development. Migrants are more likely to remain in a new location if they have meaningful work and establish social connections there. This article explores how organisations and groups in a regional city provide newcomers with access to social capital resources which migrants can use to forge social connections. Past research has shown that migrants require a mix of linking, bridging and bonding social capital to form an effective primary social contract with their new home. This research suggests that regional cities – such as Geelong, Victoria – which are proactive in assembling diverse social capital resources and making them accessible to migrants, are more likely not only to receive more newcomers but also more likely to retain migrants and a skilled workforce. The findings have relevance to other regional centres.

Contract law : text and cases

A blend of academic commentary supported by key cases providing fundamental knowledge of contract law.

Functionalism, co-operation, good faith, and the making of the "daily-preventive justice" in contract law theory and practice. A contribution to a rational understanding of good faith and to its future reseasonable developments. Evaluations from

The thoughts and observations contained in this paper were first presented in a preliminary form at the Staff Seminar that I gave at the University of Cape Town (UCT) - Department of Private Law, on Tuesday May 8 2012. The organizers generously offered me a free choice of subject. Such an offer always poses a problem to imaginative people like myself. I finally chose as my subject the role of good faith in contract law theory and practice and then entitled the Seminar “Good Faith & Contracts - Brothers in Arms”. The aim of the talk was to briefly describe what I see behind the doctrine of good faith (and, more broadly, behind the general course of the parties’ behavior before and after the conclusion of an agreement), to then explain the need of its protection and future reasonable developments by challenging the limitations of both traditional and current legal approaches to contract law theory and practice. By adopting a comparative modus investigandi, it emerged that especially in the area of contract law a new law-finding process is emerging in the European continent and it is leading to re-conceive the meta-national legislative interventions by challenging the limits of Hobbes’s Leviathan. As asserted, we ought to not take this process for granted because although there are many forms of social organization, contract is the most pervasive and the law of contract still is the most important vehicle to support and supplement private arrangements. However, the point of departure for theorizing about private law is based on experience. Consequently, despite the growing emphasis on the convergence of national legal systems in Europe, conducting research on private law theory and practice requires that imagination and creativity be matched with prudence. Proficiency has to be aligned with what we have learned from history.

Job satisfaction and response to incentives among China's urban workforce

This article examines job satisfaction and incentive structures among China's urban workforce. The main determinants of job satisfaction are found to be age, education, occupation and personal income. The criteria that Chinese urban employees considered most important when choosing a job were job stability, a high income and professional development. Employees who considered job stability, high income, professional development opportunities, work/life balance and provision of social insurance as being important when selecting a job were more likely to have higher levels of job satisfaction. © 2008 Elsevier Inc. All rights reserved.

Costly monitoring, dynamic incentives, and default

We study dynamic contracts between a lender and a borrower in the presence of costly state verification and hidden effort. We prove three results. Costly monitoring is employed by the lender to optimally limit history dependence and prevent future inefficient termination of the relationship. Due to interaction between costly monitoring and dynamic incentives, the probability of monitoring may fail to be monotone in the borrower's reservation utility. Finally, following the interpretation of the costly state verification literature, we distinguish two levels of bankruptcy: one associated with restructuring and the other with liquidation.

Executive equity risk-taking incentives and audit pricing

Using a large sample of U.S. firms spanning the period 2000-2010, we document a strong positive association between the sensitivity of CEO compensation portfolio to stock return volatility (vega) and audit fees. We also show that the positive association between vega and audit fees is weaker in the post-Sarbanes-Oxley Act (SOX) period. In supplementary tests, we show that the relation between vega and audit fees is stronger for firms with older CEOs and in firms where the CEO is also chairman of the board. Collectively, our results suggest that audit firms incorporate executive risktaking incentives in the fees they charge for their services.

Transaction cost economics and industry maturity in it outsourcing: a meta-analysis of contract type choice

Recent reviews of the information technology outsourcing (ITO) literature report high variance in research results when Transaction Cost Economics (TCE) is used as the analytical framework. Informed by ITO market developments, including increasing commoditisation, market consolidation, and market transparency, we develop an explanation for these mixed results contingent on ITO industry maturity. We adopt meta-analysis to show that ITO industry maturity significantly explains variance in the choice of contract type (time and materials vs. fixed price) in ITO projects. Our results suggest that TCE is relevant to explain the choice of contract type in the emerging phase of the ITO industry, but not in its current mature phase. We conclude that a TCE-based analytical framework is not well suited for the study of ITO in the current mature industry phase. Instead, we propose that an "endogenous" ITO theory should be developed that focuses on differences in client behaviour rather than vendor behaviour.

Risk, regulation, and financial incentives for living kidney donation

In his comprehensive review of the hazards of existing,largely unregulated markets in human kidneys, Koplin(2014) argues that advocates of regulated markets mayunderestimate the potential physical, psychosocial andfinancial harms risked by vendors. He acknowledges, however,that market proponents will likely be undeterred incalling for “trials” or “pilot studies” of financial incentivesin developed countries on the grounds that the experienceof international black markets is of limited predictive valuein anticipating the outcomes of regulated markets. We contendthat there is good evidence to support the concernthat living vendors would be at higher risk of adversehealth outcomes compared to altruistic donors in the contextof a regulated market. This has important implicationsnot only for the informed consent of prospective vendors,but also for the potential regulations that would berequired to mitigate these risks. We argue here that pilotstudies would be at the very least premature until suchtime as market proponents have sufficiently engaged withpotential harms to prospective kidney vendors.