Futures dreaming outside and on the margins of the western world

In this article, we challenge the hegemony of western science fiction, arguing that western science fiction is particular even as it claims universality. Its view remains based on ideas of the future as forward time. In contrast, in non-western science fiction the future is seen outside linear terms: as cyclical or spiral, or in terms of ancestors. In addition, western science fiction has focused on the good society as created by technological progress, while non-western science fiction and futures thinking has focused on the fantastic, on the spiritual, on the realization of eupsychia-the perfect self. However, most theorists assert that the non-west has no science fiction, ignoring Asian and Chinese science fiction history, and western science fiction continues to 'other' the non-west as well as those on the margins of the west (African-American woman, for example). Nonetheless, while most western science fiction remains trapped in binary opposites-alien/non-alien; masculine/feminine; insider/outsider-writers from the west's margins are creating texts that contradict tradition and modernity, seeking new ways to transcend difference. Given that the imagination of the future creates the reality of tomorrow, creating new science fictions is not just an issue of textual critique but of opening up possibilities for all our futures.

All's fair in love and war - but not contract

Changes to Queensland's unfair terms in consumer contracts expected - nature of the changes outlined - protections given to consumers, with respect to unfair contracts, in Victoria and the United Kingdom.

Price discovery and volatility spillovers in index futures markets: Some evidence from Mexico

This paper investigates the hypotheses that the recently established Mexican stock index futures market effectively serves the price discovery function, and that the introduction of futures trading has provoked volatility in the underlying spot market. We test both hypotheses simultaneously with daily data from Mexico in the context of a modified EGARCH model that also incorporates possible cointegration between the futures and spot markets. The evidence supports both hypotheses, suggesting that the futures market in Mexico is a useful price discovery vehicle, although futures trading has also been a source of instability for the spot market. Several managerial implications are derived and discussed. (C) 2004 Elsevier B.V. All rights reserved.

A note on execution costs for stock index futures: Information versus liquidity effects

This paper examines execution costs and the impact of trade size for stock index futures using price-volume transaction data from the London International Financial Futures and Options Exchange. Consistent with Subrahmanyam [Rev. Financ. Stud. 4 (1991) 11] we find that effective half spreads in the stock index futures market are small compared to stock markets, and that trades in stock index futures have only a small permanent price impact. This result is important as it helps to better understand the success of equity index products such as index futures and Exchange Traded Funds. We also find that there is no asymmetry in the post-trade price reaction between purchases and sales for stock index futures across various trade sizes. This result is consistent with the conjecture in Chan and Lakonishok [J. Financ. Econ. 33 (1993) 173] that the asymmetry surrounding block trades in stock markets is due to the high cost of short selling and the general reluctance of traders to short sell on stock markets. (C) 2004 Elsevier B.V. All rights reserved.

Extending choreography with business contract constraints

Business contracts play a central role in governing commercial interactions between organizations. It is increasingly recognized that business contract conditions need to be closely linked to internal and external business processes, both to reduce the risk of contract violations and to ensure compliance with legislative regimes. Recent research has proposed contract languages allowing the specification of obligations, permissions and prohibitions in business contracts. Business processes that cross-organizational boundaries can be specified in choreography and coordination languages but these do not provide appropriate abstractions for contract constraints. In this paper, we examine the transformation of contract constraints in a business contract language into expressions in a choreography language. An example cross-organizational process is presented, along with a specification of the process in a choreography language and a specification of a set of contract conditions for the process in a business contract language. The contract terms are then translated into choreography expressions that govern the process to ensure compliance. Subsequent discussion explores a number of business and technology issues related to the results. We conclude that cross-organizational business processes can be monitored and enforced according to business contract specifications through the transformation of a contract definition to constraints on process behavior.

Effects of psychological contract breach on performance of IT employees: The mediating role of affective commitment

In this study, we investigated the relationships between psychological contract breach, affective commitment, and two types of employee performance (i.e. civic virtue behaviour and in-role performance). It was predicted that an experience of contract breach can severely hurt the affective commitment of the employees and this, in turn, results in poor in-role performance and less civic virtue behaviours. Results revealed that affective commitment had differential mediating effects on the two types of employee performance. That is, affective commitment mediated the relationship between breach and self-reported and supervisor-rated civic virtue, but not the relationship between breach and in-role performance.

Workplace familism and psychological contract breach in the Philippines

The present study addresses the call for theory-based investigations on workplace familism. It contributes to the literature by proposing and testing the moderating role of workplace familism between psychological contract breach and civic virtue behaviour. We surveyed 267 full-time employees and found main effects of both types of workplace familism (i.e. workplace organisational and workplace supervisor familism) and breach of relational obligations on civic virtue behaviour. Workplace supervisor familism also moderated the relationship between breach and civic virtue behaviour, with the negative relationship between breach and civic virtue behaviour stronger when workplace supervisor familism was high. This suggests that employees with a high level of workplace supervisor familism may feel a sense of betrayal and, therefore, respond more negatively to contract breach. Implications for practice and directions for future research are discussed.