Does human capital endowment of FDI recipient countries really matter? Evidence from cross-country firm level data

The stylized literature on foreign direct investment suggests that developing countries should invest in the human capital of their labour force in order to attract foreign direct investment. However, if educational quality in developing country is uncertain such that formal education is a noisy signal of human capital, it might be rational for multinational enterprises to focus more on job-specific training than on formal education of the labour force. Using cross-country data from the textiles and garments industry, we demonstrate that training indeed has greater impact on firm efficiency in developing countries than formal education of the work force.

The impact of buddying on psychological capital, work engagement and turnover intentions:an empirical study of socialization in the professional services sector

This article reports on a study investigating the impact of new employees' satisfaction with buddying on work engagement and explores the role of psychological capital in mediating this relationship. The study took place within a professional services organization wherein data were collected from 78 graduate newcomers in receipt of buddying. Satisfaction with buddying was found to have a positive relationship to both work engagement and psychological capital. The satisfaction with the buddy/work engagement relationship was fully mediated by psychological capital, providing support for Saks & Gruman's (2011) socialization resources theory. The results underscore the valuable role buddying can play as part of organizational socialization from a positive organizational behavior perspective. The research contributes to the growing evidence that positively oriented human resource practices can develop personal resources of newcomers within organizations. Recommendations are made for how the organization can improve and build upon this resource, thus developing the psychological capital of newcomers. © 2012 Wiley Periodicals, Inc.

Does human capital endowment of foreign direct investment recipient countries really matter? evidence from cross-country firm level data

The stylized literature on foreign direct investment (FDI) suggests that developing countries should invest in the human capital of their labor force in order to attract FDI. However, if educational quality in developing country is uncertain such that formal education is a noisy signal of human capital, it might be rational for multinational enterprises to focus more on job-specific training than on formal education of the labor force. Using cross-country data from the textiles and garments industry, we demonstrate that training indeed has a greater impact on firm efficiency in developing countries than formal education of the workforce. © 2013 John Wiley & Sons Ltd.

The dynamics of HRM systems in Indian BPO firms

This paper highlights the context within which business process outsourcing (BPO) has rapidly grown in India and the critical need to investigate the dynamics of human resource management (HRM) practices and systems in this sector. Using a mixed-method approach involving both in-depth interviews and self-completing questionnaires, we analyze the nature of HRM systems in BPO organizations operating in India. The analysis is based on a sample of 51 BPO companies, a majority of which are located near the capital of New Delhi. The results focus on the nature and structure of work and organization of Indian BPOs, as well as the strategic role played by HRM in such organizations. Furthermore, the findings highlight the way specific HRM practices such as recruitment, performance appraisal, training and development, and compensations are implemented. Our study suggests the existence of formal, structured, and rationalized HRM systems in Indian BPOs. A number of insights related to HRM policies and practices are shared by the HR managers interviewed shedding more light on the inner workings of the Indian BPO companies and their challenges. The analysis provides original and useful information to both academics and practitioners and opens avenues for future research on the nature of HRM systems and practices in the Indian BPO industry.

Melamine phosphate as a component of intumescent coatings

Melamine orthophosphate has been shown to exhibit variations in its chemical constitution, and crystal shape and size, dependent upon the method of production. These crystal types have been incorporated with epoxy resin to produce intumescent coatings, which have been tested on a small scale fire testing device, designed and calibrated within this project. The factors influencing performance in three fire test regimes are the percentage loading of melamine phosphate, its chemical constitution, crystal size and shape, thermal degradation, and state of agglomeration . and dispersion in the coating, determined by the method of incorporation into the coating. When melamine phosphate is heat treated at 210ºC, a process designed to reduce its solubility, the performance of coatings produced with such material is profoundly affected, depending mainly on crystal size and shape alone. Consideration of heat transfer across the chars produced has allowed a quantitative evaluation of the thermal resistance of chars throughout a test. An optimum production route for melamine phosphate has been suggested, taking into account the requirements for weatherability of coatings as well as performance in a fire.

Financial liberalization and dynamics of firm-level financing and investment decisions in the Southeast Asian countries

This thesis examines the dynamics of firm-level financing and investment decisions for six Southeast Asian countries. The study provides empirical evidence on the impacts of changes in the firm-level financing decisions during the period of financial liberalization by considering the debt and equity financing decisions of a set of non-financial firms. The empirical results show that firms in Indonesia, Pakistan, and South Korea have relatively faster speed of adjustment than other Southeast Asian countries to attain optimal debt and equity ratios in response to banking sector and stock market liberalization. In addition, contrary to widely held belief that firms adjust their financial ratios to industry levels, the results indicate that industry factors do not significantly impact on the speed of capital structure adjustments. This study also shows that non-linear estimation methods are more appropriate than linear estimation methods for capturing changes in capital structure. The empirical results also show that international stock market integration of these countries has significantly reduced the equity risk premium as well as the firm-level cost of equity capital. Thus stock market liberalization is associated with a decrease in the cost of equity capital of the firms. Developments in the securities markets infrastructure have also reduced the cost of equity capital. However, with increased integration there is the possibility of capital outflows from the emerging markets, which might reverse the pattern of decrease in cost of capital in these markets.

The deformation behaviour of the collapsing and destructured soils of the Sana'a area and their response to field treatment

Previous work has indicated the presence of collapsing and structured soils in the surface layers underlying Sana's, the capital of Yemen Republic. This study set out initially to define and, ultimately, to alleviate the problem by investigating the deformation behaviour of these soils through both field and laboratory programmes. The field programme was carried out in Sana'a while the laboratory work consisted of two parts, an initial phase at Sana's University carried out in parallel with the field programme on natural and treated soils and the major phase at Aston University carried out on natural, destructured and selected treated soils. The initial phase of the laboratory programme included classification, permeability, and single (collapsing) and double oedometer tests while the major phase, at Aston, was extended to also include extensive single and double oedometer tests, Scanning Electron Microscopy and Energy Dispersive Spectrum analysis. The mechanical tests were carried out on natural and destructed samples at both the in situ and soaked moisture conditions. The engineering characteristics of the natural intact, field-treated and laboratory destructured soils are reported, including their collapsing potentials which show them to be weakly bonded with nil to severe collapsing susceptibility. Flooding had no beneficial effect, with limited to moderate improvement being achieved by preloading and roller compaction, while major benefits were achieved from deep compaction. From these results a comparison between the soil response to the different treatments and general field remarks were presented. Laboratory destructuring reduced the stiffness of the soils while their compressibility was increasing. Their collapsing and destructuring mechanisms have been examined by studying the changes in structure accompanying these phenomena. Based on the test results for the intact and the laboratory destructured soils, a simplified framework has been developed to represent the collapsing and deformation behaviour at both the partially saturated and soaked states, and comments are given on its general applicability and limitations. It has been used to evaluate all the locations subjected to field treatment. It provided satisfactory results for the deformation behaviour of the soils destructed by field treatment. Finally attention is drawn to the design considerations together with the recommendations for the selection of potential improvement techniques to be used for foundation construction on the particular soils of the Sana's region.

Management consultancies as institutional agents:strategies for creating and sustaining institutional capital

Management consultants have long been recognized as carriers of management knowledge and disseminators of management fashions. While it is well understood how they promote the acceptance of their concepts, surprisingly little has been said about their strategies to promote the acceptability of their services. In this paper, we elaborate a typology of strategies by which management consultancies can create and sustain such “institutional capital” (Oliver, 1997) that helps them extract competitive resources from their institutional context. Drawing on examples from the German consulting industry, we show how localized competitive actions can enhance individual firm’s positions, but also the collective institutional capital of the consulting industry as a whole, legitimize consulting services in broader sectors of society and facilitating access to requisite resources. These accounts counter prevailing imagery of institutional entrepreneurship as individualistic, “heroic” action and demonstrate how distributed, embedded actors can collectively shape the institutional context from within to enhance their institutional capital.

Management consulting firms as institutional agents:strategies for creating and sustaining institutional capital

We classify the strategies by which management consultancies can create and sustain the institutional capital that makes it possible for them to extract competitive resources from their institutional context. Using examples from the German consulting industry, we show how localized competitive actions can enhance both individual firms’ positions, and also strengthen the collective institutional capital of the consulting industry thus legitimizing consulting services in broader sectors of society and facilitating access to requisite resources. Our findings counter the image of institutional entrepreneurship as individualistic, “heroic” action. We demonstrate how distributed, embedded actors can collectively shape the institutional context from within to enhance their institutional capital.

Application of transglutaminases in the modification of wool textiles

The use of the protein-crosslinking enzymes transglutaminases (EC 2.3.2.13), as biocatalysts in the processing of wool textiles offers a variety of exciting and realistic possibilities, which include reducing the propensity of wool fabric to shrink and maintaining or increasing fabric strength. Guinea pig liver (GPL) transglutaminase or the microbial transglutaminase isolated from Streptoverticilium mobaraense, when applied to wool either alone or following a protease treatment, resulted in an increase in wool yarn and fabric strength (up to a 25% increase compared to a control). This indicates that transglutaminases can remediate the negative effects of proteolytic treatments in terms of loss in fibre strength. Incubation of samples pretreated with different oxidative and reducing agents with both sources of transglutaminases led to significant increases in tensile strength for all samples tested, suggesting that yarn strength lost following chemical treatments can also be recovered. The two different transglutaminases (TGases) could also impart a significant reduction in fabric shrinkage. The incorporation of primary amine transglutaminase substrates into wool fibres, with a view to altering wool functionality, was demonstrated using the incorporation of the fluorescent primary amine fluorescein cadaverine (FC). Incubation of wool with this fluorescent amine and transglutaminase led to high levels of incorporation into the fibres. The treatment of wool textiles with transglutaminases indicates that a number of novel and radically different finishes for wool textiles can be developed.

UK and US board director perceptions of the significance of gender and racial diversity on board governance

This mixed-methods study examines the perceptions and opinions of United Kingdom FTSE 350, and US Fortune 500 board of director members regarding the significance of gender and racial diversity on board governance. Perceptions were gathered from eighty-two directors using self-reported surveys and semi-structured interviews. This thesis provides: (1) an opportunity to investigate the perceptions (opinions) of directors regarding the effects of board gender and racial diversity on new board appointments and on the dynamics of board decision making (2) an opportunity to investigate the perception (opinions) of directors regarding the effects of social capital, new board appointments and the dynamics of board decision making, and (3) an opportunity to investigate comparatively the differences between UK and US director perceptions regarding the effects of board gender and racial diversity on new board appointments and board decision making. My findings indicate that directors believe that expertise and experience are by far the most important attributes when decisions on the selection of new directors are being considered. While US directors report observing tangible benefits to gender and racial diversity, for their firms, as well as a willingness to consider diversity as an attribute in the selection process; most UK directors were strongly opposed to positive discrimination measures.1 A majority of directors do not believe that their own demographic characteristics, such as race or gender were attributes to their being selected to a board position; however white males perceive that these attributes were considered attributes to the appointment of diverse directors. Moreover, in the United Kingdom, male directors reported that they may be at a disadvantage for board selection when compared to their female counterparts, hence advocating for a selection process with minimal considerations of the demographic characteristics of new directors. Directors do not seem to consider diverse social capital of directors when making board appointments. Instead, US directors were more likely to be assisted in board appointments by their having similar social capital, and UK directors indicated that they only consider director expertise, and that expertise is considered to ensure a broad mix of skills and professional experience on the board.

Human capital in social and commercial entrepreneurship

We advance research on human capital and entrepreneurial entry and posit that, in order to generate value, social entrepreneurship requires different configurations of human capital than commercial entrepreneurship. We develop a multilevel framework to analyse the commonalities and differences between social and commercial entrepreneurship, including the impact of general and specific human capital, of national context and its moderating effect on the human capital-entrepreneurship relationship. We find that specific entrepreneurial human capital is relatively more important in commercial entrepreneurship, and general human capital in social entrepreneurship, and that the effects of human capital depend on the rule of law.

Dynamics of spatial heterogeneity in a landfill with interacting phase densities:a stochastic analysis

A landfill represents a complex and dynamically evolving structure that can be stochastically perturbed by exogenous factors. Both thermodynamic (equilibrium) and time varying (non-steady state) properties of a landfill are affected by spatially heterogenous and nonlinear subprocesses that combine with constraining initial and boundary conditions arising from the associated surroundings. While multiple approaches have been made to model landfill statistics by incorporating spatially dependent parameters on the one hand (data based approach) and continuum dynamical mass-balance equations on the other (equation based modelling), practically no attempt has been made to amalgamate these two approaches while also incorporating inherent stochastically induced fluctuations affecting the process overall. In this article, we will implement a minimalist scheme of modelling the time evolution of a realistic three dimensional landfill through a reaction-diffusion based approach, focusing on the coupled interactions of four key variables - solid mass density, hydrolysed mass density, acetogenic mass density and methanogenic mass density, that themselves are stochastically affected by fluctuations, coupled with diffusive relaxation of the individual densities, in ambient surroundings. Our results indicate that close to the linearly stable limit, the large time steady state properties, arising out of a series of complex coupled interactions between the stochastically driven variables, are scarcely affected by the biochemical growth-decay statistics. Our results clearly show that an equilibrium landfill structure is primarily determined by the solid and hydrolysed mass densities only rendering the other variables as statistically "irrelevant" in this (large time) asymptotic limit. The other major implication of incorporation of stochasticity in the landfill evolution dynamics is in the hugely reduced production times of the plants that are now approximately 20-30 years instead of the previous deterministic model predictions of 50 years and above. The predictions from this stochastic model are in conformity with available experimental observations.

The Romanian Orthodox Church

At first glance, the nationalist ideology of the French Revolution seems to have had little impact on the Orthodox Church in Romanian-speaking territories. Romanians were the predominant inhabitants of the principalities of Wallachia and Moldavia and the neighboring territories of Transylvania (including Crişana, Maramureş and Banat), Bukovina, Bessarabia, and Dobrudja. The majority of ethnic Romanians belonged to the Orthodox faith while their communities were at the intersection of geopo liti cal interests of the Rus sian, Ottoman, and Habsburg empires. In 1859 the Principalities of Wallachia and Moldavia (known as the Old Kingdom between 1866 and 1918) united into a single state under the rule of a local prince. The term "Romania" began to be used by the new state in its of cial documents in 1862. Two years later, the state supported the declaration of a Romanian autocephalous (in de pen dent) church that was recognized by the Ecumenical Patriarchate in 1885. As an integrative part of the Orthodox commonwealth, the church was situated between the competing jurisdictions of the Ecumenical Patriarchate and the Rus sian Orthodox Church, while its declaration of autocephaly followed a pattern in the spread of national churches in Southeastern Europe. From the Treaty of Kuchuk Kainardji of 1774 to the beginning of the Greek War for In de pen dence in 1821, the Romanian principalities were under the suzerainty of the Ottoman Empire, which had full control of their po liti cal and economic affairs. The sultan appointed princes, and the Porte determined their po liti cal and judicial status. The princes were drawn from the "Phanariots," and were directly appointed by the Porte from preponderantly Greek elite rather than the Romanian local elite, the boyars (boieri).1 In each principality, the church was headed by a metropolitan who was under the direct jurisdiction of the Ecumenical Patriarchate. That religion mattered to local population as a means of social cohesion was suggestively depicted by Anatole de Demidoff, an En glish traveler in the region in 1837. Arriving in Bucharest, the capital of Wallachia, he claimed that: I know of no city in Europe in which it is possible to find more agreeable society, or in which there is a better tone, united with the most charming gaiety⋯. Religion, which is here of the schismatic Greek creed, does not, properly speaking, hold any great empire over the minds of the Wallachian people, but they observe its outward forms, and particularly the austerities of fasting, with scrupulous exactitude. The people are seen to attend divine ser vice with every sign of respect, and the great number of churches existing in Wallachia, bear witness to the ardent zeal with which outward worship is honored.2 The Romanian Orthodox Church was a national institution, closely linked to social, economic, and po liti cal structures. In most cases, Orthodox hierarchs were appointed from the families of boyars, thus ensuring a close relationship with the state authorities and its policies. As one of the largest landowners in the principalities, the church had a prime role in administrating healthcare and education. Although the majority of the clergy was uneducated, it dispensed both ecclesiastical and civil justice and in many cases worked closely with boyars in local administration.3 The lower clergy not only contributed directly to the economy but also benefited from tax privileges. Some small villages had an unusually high proportion of clergy in comparison to the overall population. For example, in 1810, Stənisləveşti, a village in the south of Wallachia, was composed of eleven houses and had two priests, five deacons, and three cantors; similarly, the Frəsinet village of nineteen houses had two priests and five deacons.4 Although these cases were exceptional, they indicate both the economic value of being a member of the clergy and the wider canonical dimension of church jurisdiction. The special status of the clergy was reflected not only at lower but also at higher levels. Bishops and metropolitans engaged with state policy and in many cases opposition to the authorities led to the loss of a spiritual seat. The metropolitan of each principality worked with the prince and was president of the divan, the gathering of all boyars. He held the right to be the first person to comment on state policy and to make recommendations when the prince was absent. The metropolitan replaced the prince when the principality had no political ruler, such as in the cases of Metropolitan Veniamin Costachi of Moldavia in 1806 and Metropolitan Dositei Filitti of Wallachia, while the bishops of Buzəu and Argeş were members of the provisional government during the Rus sian occupation of the principalities in 1808. The higher clergy had both religious and political prerogatives in relation to foreign powers as evident in their heading of the boyars' delegation to peace negotiation between the Rus sian and Ottoman empires at Focşani in 1772 and addressing memoranda to the Austrian and Rus sian governments in 1802.5 The primary role of the church in the principalities of Moldavia and Wallachia was paralleled by the national mobilization of Orthodox communities in the neighboring territories that had Romanian inhabitants. Although throughout the region Orthodox communities were incorporated into church structures as part of the Habsburg, Austrian or Rus sian empires, the nineteenth century was characterized by the leadership's search for political autonomy and the building of a Romanian national identity. The Orthodox communities outside the Old Kingdom maintained relations with the faithful in principalities across the Carpathian Mountains and the Dniester River and sought support in their struggle for political and religious rights.