Employment regulation, game theory, and the lacuna in employee participation in liberal economies

Employee participation is a vital ingredient of what the International Labour Organization (ILO) calls ‘representation security’. This article provides theoretical and empirical insights relating to social policy impact of worker participation, specifically the European Information and Consultation Directive (ICD) for employee voice rights. While existing research on the ICD offers important empirical insights, there is a need for further theoretical analysis to examine the potential effectiveness of the regulations in liberal market economies (LMEs). Drawing on data from 16 case studies, the article uses game theory and the prisoner's dilemma framework to explain why national implementing legislation is largely ineffective in diffusing mutual gains cooperation in two LMEs: UK and the Republic of Ireland. Three theoretical (metaphorical) propositions advance understanding of the policy impact of national information & consultation regulations in LMEs.

Similarity or Variation? Employee Representation and Consultation Approaches Amongst Liberal Market Economy Multinationals

This paper engages with the varieties of capitalism literature to investigate the employee representation and consultation approaches of liberal market economy multinational companies (MNCs), specifically Australian, British and US MNCs operating in Australia. While the literature would suggest commonality amongst these MNCs, the paper considers whether the evidence points to similarity or variation amongst liberal market headquartered MNCs. The findings contribute to filling a recognized empirical gap on MNC employment relations practice in Australia and to a better understanding of within category varieties of capitalism similarity and variation. Drawing on survey data from MNCs operating in Australia, the results demonstrated that UK-owned MNCs were the least likely to report collective structures of employee representation. Moreover, it was found that Australian MNCs were the most likely to engage in collective forms of employee representation and made less use of direct consultative mechanisms relative to their British and US counterparts. In spite of the concerted individualization of the employment relations domain over previous decades, Australian MNCs appear to have upheld more long-standing national institutional arrangements with respect to engaging with employees on a collective basis. This varies from British and US MNC approaches which denotes that our results display within category deviation in the variety of capitalism liberal market economy typology. Just as Hall and Soskice described their seminal work on liberal market economy (LME) and coordinated market economy (CME) categories as a “work-in-progress” (2001: 2), we too suggest that Australia’s evolution in the LME category, and more specifically its industrial relations system development, and the consequences for employment relations practices of its domestic MNCs, may be a work-in-progress.

Microneedle-mediated delivery of donepezil: Potential for improved treatment options in Alzheimer's disease

Transdermal drug delivery is an attractive route of drug administration, however there are relatively few marketed transdermal products. To increase delivery across the skin, strategies to enhance skin permeability are widely investigated, with microneedles demonstrating particular promise. Hydrogel-forming microneedles are inserted into the skin, and following dissolution of a drug loaded reservoir and movement of the drug through the created channels, the microneedle array is removed intact, and can then be readily and safely discarded. This study presents the formulation and evaluation of an integrated microneedle patch containing the Alzheimer's drug, donepezil hydrochloride. The integrated patch consisted of hydrogel-forming microneedles in combination with a donepezil hydrochloride containing film. Formulation and characterisation of plasticised films, prepared from poly(vinylpyrrolidone) or poly (methyl vinyl ether co-maleic anhydride/acid) (Gantrez(®)) polymers, is presented. Furthermore, in vitro permeation of donepezil hydrochloride across neonatal porcine skin from the patches was investigated, with 854.71 μg ± 122.71 μg donepezil hydrochloride delivered after 24 h, using the optimum patch formulation. Following administration of the patch to an animal model, plasma concentrations of 51.8 ± 17.6 ng/mL were obtained, demonstrating the success of this delivery platform for donepezil hydrochloride.

The Adaptiveness in Stock Markets: Testing the Stylized Facts in the DAX 30

By testing a simple asset pricing model of heterogeneous agents to characterize the power-law behavior of the DAX 30 from 1975 to 2007, we provide supporting evidence on empirical findings that investors and fund managers use combinations of fixed and switching strategies based on fundamental and technical analysis when making investment decisions. By conducting econometric analysis via Monte Carlo simulations, we show that the autocorrelation patterns, the estimates of the power-law decay indices, (FI)GARCH parameters, and tail index of the model match closely the corresponding estimates for the DAX 30. A mechanism analysis based on the calibrated model provides further insights into the explanatory power of heterogeneous agent models.

Essays on supply chain's flexibility: a real options approach

A presente tese investiga o processo de tomada de decisão na gestão de cadeias de abastecimento, utilizando um quadro de análise de opções reais. Especificamente, estudamos tópicos como o nível de inventário ideal para protecção contra a incerteza da procura, o momento para implementação de capacidade flexível em mercados onde existe complexidade no mix de produtos, o tempo para o reforço do factor trabalho visando requisitos de serviço ao mercado, e as decisões entre integração e outsourcing num ambiente de incerteza. Foram usadas metodologias de tempo discreto e contínuo para identificar o valor ideal e o calendário das opções a adoptar, quando a procura é estocástica. Além disso, foram considerados os efeitos dos requisitos dos mercados, como a complexidade na oferta de produtos e o nível de serviço. A procura é representada recorrendo a diferentes processos estocásticos, o impacto de saltos inesperados também é explorado, reforçando a generalização dos modelos a diferentes condições de negócio. A aplicabilidade dos modelos que apresentamos permite a diversificação e o enriquecimento da literatura sobre a abordagem de opções reais, no âmbito das cadeias de abastecimento. Níveis de inventário flexíveis e capacidades flexíveis são característicos das cadeias de abastecimento e podem ser usados como resposta à incerteza do mercado. Esta tese é constituída por ensaios que suportam a aplicação dos modelos, e consiste num capítulo introdutório (designado por ensaio I) e mais seis ensaios sobre factores que discutem o uso de medidas de flexibilidade nas cadeias de abastecimento, em ambientes de incerteza, e um último ensaio sobre a extensão do conceito de flexibilidade ao tratamento da avaliação de planos de negócio. O segundo ensaio que apresentamos é sobre o valor do inventário num único estádio, enquanto medida de flexibilidade, sujeita ao crescente condicionalismo dos custos com posse de activos. Introduzimos uma nova classificação de artigos para suportar o indicador designado por overstock. No terceiro e quarto ensaio ampliamos a exploração do conceito de overstock, promovendo a interacção e o balanceamento entre vários estádios de uma cadeia de abastecimento, como forma de melhorar o desempenho global. Para sustentar a aplicação prática das abordagens, adaptamos o ensaio número três à gestão do desempenho, para suportar o estabelecimento de metas coordenadas e alinhadas; e adaptamos o quarto ensaio à coordenação das cadeias de abastecimento, como auxiliar ao planeamento integrado e sequencial dos níveis de inventário. No ensaio cinco analisamos o factor de produção “tecnologia”, em relação directa com a oferta de produtos de uma empresa, explorando o conceito de investimento, como medida de flexibilidade nas componentes de volume da procura e gama de produtos. Dedicamos o ensaio número seis à análise do factor de produção “Mão-de-Obra”, explorando as condicionantes para aumento do número de turnos na perspectiva económica e determinando o ponto crítico para a tomada de decisão em ambientes de incerteza. No ensaio número sete exploramos o conceito de internalização de operações, demarcando a nossa análise das demais pela definição do momento crítico que suporta a tomada de decisão em ambientes dinâmicos. Complementamos a análise com a introdução de factores temporais de perturbação, nomeadamente, o estádio de preparação necessário e anterior a uma eventual alteração de estratégia. Finalmente, no último ensaio, estendemos a análise da flexibilidade em ambientes de incerteza ao conceito de planos de negócio. Em concreto, exploramos a influência do número de pontos de decisão na flexibilidade de um plano, como resposta à crescente incerteza dos mercados. A título de exemplo, usamos o mecanismo de gestão sequencial do orçamento para suportar o nosso modelo. A crescente incerteza da procura obrigou a um aumento da agilidade e da flexibilidade das cadeias de abastecimento, limitando o uso de muitas das técnicas tradicionais de suporte à gestão, pela incapacidade de incorporarem os efeitos da incerteza. A flexibilidade é claramente uma vantagem competitiva das empresas que deve, por isso, ser quantificada. Com os modelos apresentados e com base nos resultados analisados, pretendemos demonstrar a utilidade da consideração da incerteza nos instrumentos de gestão, usando exemplos numéricos para suportar a aplicação dos modelos, o que claramente promove a aproximação dos desenvolvimentos aqui apresentados às práticas de negócio.

Geographic variation in sardine population traits: implications for stock assessment

Tese dout., Ciências e Tecnologias das Pescas, Universidade do Algarve, 2007

Management options towards coastal sustainability

Dissertação de Mestrado, Gestão da Água e da Costa, Faculdade de Ciências e Tecnologia, Universidade do Algarve, University of Plymouth, Universidad de Cadiz, 2010

Future Air Quality Related Health Effects in Europe and the Nordic Region—Sensitivity to Changes in Climate, Anthropogenic Emissions, Demography and Building Stock

Future changes in population exposures to ambient air pollution are inherently linked with long-term trends in outdoor air quality, but also with changes in the building stock. Moreover, the burden of disease is further driven by the ageing of the European populations. This study aims to assess the impact of changes in climate, emissions, building stocks and population on air pollution related human health impacts across Europe in the future. Therefore an integrated assessment model combining atmospheric models and health impacts has been setup for projections of the future developments in air pollution related premature mortality. The focus is here on the regional scale impacts of exposure to surface ozone (O3), Secondary Inorganic Aerosols (SIA) and primary particulate matter (PPM).

Do human resource practices enhance organizational commitment in SMEs with low employee satisfaction?

This paper considers a large matched employee–employer data set to estimate a model of organizational commitment. In particular, it focuses on the role of firm size and management formality to explain organizational commitment in British small and medium-sized enterprises (SMEs) with high and low levels of employee satisfaction. It is shown that size ‘in itself’ can explain differences in organizational commitment, and that organizational commitment tends to be higher in organizations with high employee satisfaction compared with organizations of similar size with low employee satisfaction. Crucially, the results suggest that formal human resource (HR) practices can be used as important tools to increase commitment and thus, potentially, effort and performance within underperforming SMEs with low employee satisfaction. However, formal HR practices commonly used by large firms may be unnecessary in SMEs which benefit from high employee satisfaction and positive employment relations within a context of informality.

Monetary policy, exchange rates and stock prices in the Middle East region

A structural vector autoregressive model is employed to investigate the impact of monetary policy and real exchange rate shocks on the stock market performance of Kuwait, Oman, Saudi Arabia, Egypt and Jordan. In order to identify the structural shocks both short run and long run restrictions are applied. Unlike previous literature the contemporaneous interdependence between the financial variables are left unrestricted to give a more accurate depiction of the relationships. The heterogeneity of the results reflect the different monetary policy frameworks and stock market characteristics of these countries. Mainly, monetary policy and the real exchange rate shocks have a significant short run impact on the stock prices of the countries that apply a relatively more independent monetary policy and flexible exchange rates.

Consumer confidence indices and stock markets’ meltdowns

Consumer confidence indices (CCIs) are a closely monitored barometer of countries’ economic health and an informative forecasting tool. Using European and US data, we provide a case study of the two recent stock market meltdowns (the post-dotcom bubble correction of 2000–2002 and the 2007–2009 decline at the beginning of the financial crisis) to contribute to the discussion on their appropriateness as proxies for stock markets’ investor sentiment. Investor sentiment should positively covary with stock market movements (DeLong, Shleifer, Summers, and Waldmann 1990); however, we find that the CCI–stock market relationship is not universally positive.We also do not find support for the information effect documented in the previous literature, but identify a more subtle relationship between consumer expectations about future household finances and stock market fluctuations.