A Neglected Aspect of Business: Human and Social Capital in the Sri Lankan Tea Plantations

This paper examines idiosyncrasies of tea plantation culture and politics in relation to Sri Lankan national and popular cultural typologies, with special reference to female tea plantation workers. Tea production in Sri Lanka is heavily based on manual labour, and it is the largest industry that provides accommodation for employees and their families. In this paper, it is argued that politico-cultural production relations have dominated labour productivity in tea plantations. Ways in which female workers have been marginalized, through patriarchal politics, ethnicity, religion, education, elitism, and employment are explained. This culture of the plantation community operates negatively with respect to the management agenda. It is also argued that social capital development in tea plantations is important not only for productivity improvement, but also for reasons of political and social obligation for the nation, because migrant plantation workers have been working and living in plantations over 150 years.

JUSTIÇA ORGANIZACIONAL E CAPITAL PSICOLÓGICO: INFLUÊNCIA SOBRE BEM-ESTAR SUBJETIVO E ENGAJAMENTO NO TRABALHO

Há indicativos de que recursos sociais do ambiente de trabalho, entre eles justiça organizacional, poderiam influenciar vínculos com o trabalho, além de impactarem os níveis de bem-estar dos trabalhadores. Além disso, evidências apontam que certas características psicológicas dos trabalhadores fariam variar positiva ou negativamente a magnitude da influência dos recursos sobre os vínculos com o trabalho e sobre bem-estar. Com base nessas evidências esse estudo teve como objetivo principal analisar a influência de justiça organizacional (distributiva, procedimentos e interacional) e capital psicológico sobre engajamento no trabalho e bem-estar subjetivo (balanço emocional e satisfação com a vida). A partir do objetivo principal, foram propostas quatro hipóteses: percepção de justiça organizacional aumenta o engajamento no trabalho (H1) e bem-estar subjetivo (H2); capital psicológico seria moderador da relação entre justiça organizacional e bem-estar subjetivo (H3) e da relação entre justiça organizacional e engajamento (H4), sendo que, níveis altos de capital psicológico fortaleceriam as relações. O delineamento utilizado foi de natureza quantitativa transversal, descritiva e com amostragem não probabilística. A partir de uma amostra composta por 293 trabalhadores com média de idade de 38,3 (DP=10,7) anos, dos quais um pouco mais da metade era composta por mulheres (56,3pc), oriundos de todas as regiões do Brasil, com predomínio da região Sudeste (65,2pc), mediu-se com escalas válidas e precisas, por meio de um questionário online, os níveis de justiça organizacional, capital psicológico, engajamento no trabalho e bem-estar subjetivo. Foram realizados dois conjuntos de análises de regressão linear múltipla para teste das hipóteses. No primeiro conjunto de análises, os resultados das regressões lineares múltiplas padrão indicaram que justiça organizacional influenciou os níveis de engajamento no trabalho e bem-estar subjetivo, sendo que, em relação a engajamento e balanço emocional, apenas a dimensão interacional da justiça foi preditora significativa, enquanto justiça distributiva foi a única preditora significativa de satisfação com a vida. No segundo conjunto de análises, as regressões lineares múltiplas hierárquicas de cada dimensão de justiça organizacional, juntamente com capital psicológico e termo de interação sobre engajamento no trabalho e sobre bem-estar subjetivo, indicaram que capital psicológico moderou as relações entre justiça de procedimentos e justiça interacional com engajamento no trabalho. Concluiu-se a partir dos resultados que a percepção de ser remunerado adequadamente pelos esforços no trabalho, participar das decisões que afetam o trabalho e ser tratado com respeito e sinceridade pode influenciar os níveis de orgulho e inspiração no trabalho, características de engajamento, além de poder aumentar os níveis de bem-estar subjetivo, contribuindo para a vivência predominante de afetos positivos e de avaliações positivas da satisfação com a vida. Além disso, apesar de não ser possível afirmar que trabalhadores com maiores níveis de crenças em sua capacidade para executar suas tarefas e com perspectivas positivas em relação ao futuro, possam prescindir de ambientes justos para se engajarem no trabalho, os resultados demonstraram que esses trabalhadores podem sofrer menos influência de justiça de procedimentos e interacional para estabelecerem esse vínculo com seu trabalho, demonstrando que essas características pessoais funcionariam como amortecedores diante da falta de recursos do ambiente.

ANÁLISE DAS MUDANÇAS DOS FATORES DETERMINANTES DA ESTRUTURA DE CAPITAL EM FUNÇÃO DO CICLO DE VIDA DAS EMPRESAS BRASILEIRAS SÃO BERNARDO DO CAMPO

As várias teorias acerca da estrutura de capital despertam interesse motivando diversos estudos sobre o assunto sem, no entanto, ter um consenso. Outro tema aparentemente pouco explorado refere-se ao ciclo de vida das empresas e como ele pode influenciar a estrutura de capital. Este estudo teve como objetivo verificar quais determinantes possuem maior relevância no endividamento das empresas e se estes determinantes alteram-se dependendo do ciclo de vida da empresa apoiada pelas teorias Trade Off, Pecking Order e Teoria da Agência. Para alcançar o objetivo deste trabalho foi utilizado análise em painel de efeito fixo sendo a amostra composta por empresas brasileiras de capital aberto, com dados secundários disponíveis na Economática® no período de 2005 a 2013, utilizando-se os setores da BM&FBOVESPA. Como resultado principal destaca-se o mesmo comportamento entre a amostra geral, alto e baixo crescimento pelo endividamento contábil para o determinante Lucratividade apresentando uma relação negativa, e para os determinantes Oportunidade de Crescimento e Tamanho, estes com uma relação positiva. Para os grupos de alto e baixo crescimento alguns determinantes apresentaram resultados diferentes, como a singularidade que resultou significância nestes dois grupos, sendo positiva no baixo crescimento e negativa no alto crescimento, para o valor colateral dos ativos e benefício fiscal não dívida apresentaram significância apenas no grupo de baixo crescimento. Para o endividamento a valor de mercado foi observado significância para o Benefício fiscal não dívida e Singularidade. Este resultado reforça o argumento de que o ciclo de vida influência a estrutura de capital

Knowledge capital, endogenous growth and regional disparities in productivity:multi-level evidences from China

This paper examines the role of knowledge capital in persistent regional productivity disparities in developing countries. The hypotheses are tested using regional and firm level longitudinal data from China. It is found that inequalities in knowledge creation and transfer, both inter-generational and international, played a significant role in increasing regional disparities in productivity. These inequalities are exacerbated by the accumulative nature of knowledge capital. All this leads to self-perpetuating cycles of success and failure, particularly compounded with asymmetric financial and human capital between different regions.

Institutional environment, innovative entrepreneurial entry and venture capital financing

We analyse the determinants of high growth expectations entrepreneurial entry (HGE) using individual data drawn on working age population, based on the Global Entrepreneurship Monitor (GEM) surveys for the 1998-2004 period. Individual level explanatory variables are combined with country-level factors. Our results suggest that availability of venture capital and intellectual proper rights protection are strong predictors of HGE. In addition, we also find that innovative start-ups are associated with highest growth expectations in countries with extensive supply of venture capital and strongest intellectual property rights. Once we introduce venture capital, we detect no significant effects of other elements of financial systems on high-powered entry.

Growth expectations of business owners:impact of human capital, firm characteristics and environmental transition

This paper presents an empirical study based on a survey of 399 owners of small and medium size companies in Lithuania. Applying bivariate and ordered probit estimators, we investigate why some business owners expect their firms to expand, while others do not. Our main findings provide evidence that SME owner's generic and specific human capital matter. Those with higher education and 'learning by doing' attributes, either through previous job experience or additional entrepreneurial experience, expect their businesses to expand. The expectations of growth are positively related to exporting and non-monotonically to enterprise size. In addition, we analyse the link between the perceptions of constraints to business activities and growth expectations and find that the factors, which are perceived as main business barriers, are not necessary those which are associated with reduced growth expectations. In particular, perceptions of both corruption and of inadequate tax systems seem to affect growth expectations the most.

The global financial crisis, working people and sustainable development

Although they had nothing to do with the actual causes of the 2008 Global Financial crisis, it is ordinary workers and their families who have arguably suffered the most from its effects. While governments and international agencies seem most concerned to protect the returns to Capital in the name of financial austerity and economic good sense, little has been done to protect the well-being of working people or the global environment. Both trade unionists and environmentalists oppose the destruction wrought by neoliberal market economics; the challenge is for them to work more closely together in the future to promote truly sustainable development.

We want drama! The effect of online conflict on social capital in online communities of consumption

Online communities (OC) are an expanding social phenomenon gaining increasing interest from marketing practitioners. Community managers thus aim to increase OCs’ social capital. Diversity of individuals interacting in OCs provokes a lot of conflict. However, the influence of online conflict on OCs’ social capital is not clear as research indicates both positive and negative effects. The research aims to explain these contradictory effects by conceptualizing conflict as drama and developing a typology of online conflict. Based on netnographic investigations of a forum, four types of conflicts are thus distinguished depending on valence of emotions and the type of members involved. The research contributes to literature on OC dynamics and is of particular interest for community managers working in any company or organization.

Human capital:theoretical and empirical insights

There is nothing more difficult to plan, more Doubtful of success, nor more dangerous to manage Than the creation of a new system. For the initiator has the enmity of all who would Profit by the preservation of the old system, and Merely lukewarm defenders in those who should gain By the new one. N. Machiavelli (1513) Abstract: The purpose of this paper is twofold. First, we want to challenge the notion of "human capital" as "education, training and work experience" and suggest that it is the "quality of the workforce" that matters, here defined as the set of characteristics that allow workers to function in a specific institutional and historical context. Our main conclusion is that the quality of the workforce is affected by the institutional environment where the workers live and that therefore it can vary across countries and institutional contexts. Second, we want to show the empirical relevance of this last point by testing the extent to which the quality of institutions (here proxied by the governance indicators of Kaufmann etal. (2007)) can affect the quality of the workforce (proxied by the percentage of the working age population registered in a lifelong learning program). Our empirical analysis is conducted on a data-set of 11 European countries observed over the period 1996-2006. The results indicate that countries with better governance indicators are also endowed with a more qualified workforce. © 2011 American Journal of Economics and Sociology, Inc.

Tőkeallokációs módszerek és tulajdonságaik a gyakorlatban (Methods of capital allocation and their characteristics in practice)

A pénzügyekben mind elméletileg, mind az alkalmazások szempontjából fontos kérdés a tőkeallokáció. Hogyan osszuk szét egy adott portfólió kockázatát annak alportfóliói között? Miként tartalékoljunk tőkét a fennálló kockázatok fedezetére, és a tartalékokat hogyan rendeljük az üzleti egységekhez? A tőkeallokáció vizsgálatára axiomatikus megközelítést alkalmazunk, tehát alapvető tulajdonságok megkövetelésével dolgozunk. Cikkünk kiindulópontja Csóka-Pintér [2010] azon eredménye, hogy a koherens kockázati mértékek axiómái, valamint a tőkeallokációra vonatkozó méltányossági, ösztönzési és stabilitási követelmények nincsenek összhangban egymással. Ebben a cikkben analitikus és szimulációs eszközökkel vizsgáljuk ezeket a követelményeket. A gyakorlati alkalmazások során használt, illetve az elméleti szempontból érdekes tőkeallokációs módszereket is elemezzük. A cikk fő következtetése, hogy a Csóka-Pintér [2010] által felvetett probléma gyakorlati szempontból is releváns, tehát az nemcsak az elméleti vizsgálatok során merül fel, hanem igen sokszor előforduló és gyakorlati probléma. A cikk további eredménye, hogy a vizsgált tőkeallokációs módszerek jellemzésével segítséget nyújt az alkalmazóknak a különböző módszerek közötti választáshoz. / === / Risk capital allocation in finance is important theoretically and also in practical applications. How can the risk of a portfolio be shared among its sub-portfolios? How should the capital reserves be set to cover risks, and how should the reserves be assigned to the business units? The study uses an axiomatic approach to analyse risk capital allocation, by working with requiring basic properties. The starting point is a 2010 study by Csoka and Pinter (2010), who showed that the axioms of coherent measures of risk are not compatible with some fairness, incentive compatibility and stability requirements of risk allocation. This paper discusses these requirements using analytical and simulation tools. It analyses methods used in practical applications that have theoretically interesting properties. The main conclusion is that the problems identified in Csoka and Pinter (2010) remain relevant in practical applications, so that it is not just a theoretical issue, it is a common practical problem. A further contribution is made because analysis of risk allocation methods helps practitioners choose among the different methods available.

Properties of risk capital allocation methods: Core Compatibility, Equal Treatment Property and Strong Monotonicity

In finance risk capital allocation raises important questions both from theoretical and practical points of view. How to share risk of a portfolio among its subportfolios? How to reserve capital in order to hedge existing risk and how to assign this to different business units? We use an axiomatic approach to examine risk capital allocation, that is we call for fundamental properties of the methods. Our starting point is Csóka and Pintér (2011) who show by generalizing Young (1985)'s axiomatization of the Shapley value that the requirements of Core Compatibility, Equal Treatment Property and Strong Monotonicity are irreconcilable given that risk is quantified by a coherent measure of risk. In this paper we look at these requirements using analytic and simulations tools. We examine allocation methods used in practice and also ones which are theoretically interesting. Our main result is that the problem raised by Csóka and Pintér (2011) is indeed relevant in practical applications, that is it is not only a theoretical problem. We also believe that through the characterizations of the examined methods our paper can serve as a useful guide for practitioners.

Auswirkungen von Eigenkapitalregulierung auf optimale Bankkreditzinsniveaus (Effect of capital regulation on optimal bank loan interest rate levels)

Die Vielfalt von möglichen wirtschaftlichen Konsequenzen von Banksolvenzproblemen trägt auch dazu bei, dass wissenschaftliche Fragen über die Eigenkapitalregulierung im Bankensektor schon seit einigen Jahren ziemlich intensiv diskutiert werden. Die Effekte von Eigenkapitalregulierung können sich auf zahlreiche Weise zeigen, zum Beispiel ist ein Effekt auf das Kreditzinsniveau auch nicht auszuschließen. Um diesen potenziellen Zusammenhang, an den die frühere Literatur noch nicht fokussierte, klarer analysieren zu können, wird in der vorliegenden Studie ein theoretisches Modell präsentiert, in der eine Verbindung zwischen einem optimalen Bankkreditzinsniveau und der Eigenkapitalregulierung existiert. Die Optimalität von Kreditzinsniveaus wird aus zwei Aspekten betrachtet: als Optimalitätskriterien werden Gewinnmaximierung und Maximierung von Solvenzwahrscheinlichkeit verglichen. Aufgrund der Ergebnisse kann darauf geschlossen werden, dass diese zwei optimale Kreditzinsniveaus nicht identisch sind und unterschiedlich von Eigenkapitalregulierung beeinflusst werden. Nach theoretischen Ergebnissen ist es möglich, dass im Falle einer Erhöhung des Eigenkapitals bei gleichbleibenden Bankeinlagen das gewinnmaximierende Optimum sich nicht ändert, während das zu der Maximierung der Solvenzwahrscheinlichkeit gehörende Optimum sich verringert.

Essays in dynamic optimal taxation: working experience, unemployment scarring and poverty

This thesis investigates the design of optimal tax systems in dynamic environments. The first essay characterizes the optimal tax system where wages depend on stochastic shocks and work experience. In addition to redistributive and efficiency motives, the taxation of inexperienced workers depends on a second-best requirement that encourages work experience, a social insurance motive and incentive effects. Calibrations using U.S. data yield higher expected optimal marginal income tax rates for experienced workers for most of the inexperienced workers. They confirm that the average marginal income tax rate increases (decreases) with age when shocks and work experience are substitutes (complements). Finally, more variability in experienced workers' earnings prospects leads to increasing tax rates since income taxation acts as a social insurance mechanism. In the second essay, the properties of an optimal tax system are investigated in a dynamic private information economy where labor market frictions create unemployment that destroys workers' human capital. A two-skill type model is considered where wages and employment are endogenous. I find that the optimal tax system distorts the first-period wages of all workers below their efficient levels which leads to more employment. The standard no-distortion-at-the-top result no longer holds due to the combination of private information and the destruction of human capital. I show this result analytically under the Maximin social welfare function and confirm it numerically for a general social welfare function. I also investigate the use of a training program and job creation subsidies. The final essay analyzes the optimal linear tax system when there is a population of individuals whose perceptions of savings are linked to their disposable income and their family background through family cultural transmission. Aside from the standard equity/efficiency trade-off, taxes account for the endogeneity of perceptions through two channels. First, taxing labor decreases income, which decreases the perception of savings through time. Second, taxation on savings corrects for the misperceptions of workers and thus savings and labor decisions. Numerical simulations confirm that behavioral issues push labor income taxes upward to finance saving subsidies. Government transfers to individuals are also decreased to finance those same subsidies.

Earnings Variability and Earnings Instability of Women and Men in Canada: How Do the 1990's Compare to the 1980's (Working Paper 25)

It seems to be generally assumed that earnings instability has increased in the last decade or so, as earnings inequality has widened, but is this indeed the case, and if so, to what degree? This paper builds on earlier U.S. work to look at the total variance in individuals’ earnings with a focus on the distinction between permanent earnings variation associated with factors such as human capital investments or other persistent worker attributes, and transitory earnings variation or instability for a given individual from one year to another. We find that there was an increase in overall earnings variability, especially for men, but that the greatest part of this increase was driven by the permanent component – that is, by a widening dispersion of (life-cycle) earnings differentials across workers. The increased volatility of workers’ earnings about their life-cycle earnings profiles played a secondary role in the overall increase in men’s earnings variability, whereas for women this effect was very small or even worked in the opposite direction (depending on the particular age group). Patterns by age and region are also investigated.

A cultura organizacional influenciando o comportamento do capital humano na biblioteca universitária

DUARTE, E. N. ; CARVALHO, Andréa Vasconcelos ; PINHEIRO, E. G. ; CARVALHO, Luciana Moreira ; NOGUEIRA, N. M. F. . A cultura organizacional influenciando o comportamento do capital humano na biblioteca universitária. Informação & Sociedade. Estudos, João Pessoa - PB, v. 10, n. 2, p. 190-210, 2000