firm behavior under quantity controls the theory of virtual quantities the theory of virtual quantities the dual to virtual prices provides a framework to analyze competitive multiproduct firm behavior under multiple quantity controls on inputs and outputs including command and control quotas and transferable property rights the framework addresses the firm s reactions to regulatory controls impacts of adding or dropping quantity controls inferring unrationed from rationed production and conversion from command and control quotas to cap and trade systems with transferable property rights and secondary market behavior the paper develops reasons for failure of quasi concavity of technology extends the elasticity of intensity s properties and integrates the virtual price and virtual quantity frameworks virtual quantities are applied to assess potential firm responses to quantity controls and a potential transferable property right in a malaysian fishery

cultural industries in international business research progress and prospect cultural industries systems of organizations that produce and distribute cultural goods with substantive symbolic aesthetic or artistic value represent an important exciting and complex context that receives growing scholarly attention as the first review of management research on cultural industries this paper aims to provide a systematic synthesis of current research summarizing distinctive characteristics of cultural industries and highlighting research gaps we also illustrate how the unique nature dynamics and evolution of cultural industries provide opportunities to broaden international business theories in four research themes i e internationalization strategy cross border innovation social inclusion in the global economy and emerging market research

the theory and measurement of producer response under quotas tobin and houthakker s work on consumer behavior under quantity rationing has been extended by many authors especial ly through the use of duality theory this paper uses duality theory to extend the work on demand theory under rationing to the case of producer behavior under quotas these results permit estimation of otherwise unobservable market supply and demand structures the structure of the farm economy operating under a tobacco quota system is estimated and the theory is utilized to infer that the supply elasticity of tobacco would be about 7 0 if the quotas were removed estimates such as this are not normally attainable without the theor y outlined here even though they are essential for the evaluation of policy changes copyright 1993 by mit press

rent capture in a rights based fishery abstract the paper compares four methods of rent capture in a fishery managed with individual transferable quotas using simulations from a unit profit function some theoretical properties of a quota rental charge profit charge lump sum charge and an ad valorem royalty are examined and then compared in simulations in terms of the distribution of profits distortions to the fishery the relative burden on fishers and flexibility to adjust to changes in the fishery

science s reproducibility and replicability crisis international business is not immune international business is not immune to science s reproducibility and replicability crisis we argue that this crisis is not entirely surprising given the methodological practices that enhance systematic capitalization on chance this occurs when researchers search for a maximally predictive statistical model based on a particular dataset and engage in several trial and error steps that are rarely disclosed in published articles we describe systematic capitalization on chance distinguish it from unsystematic capitalization on chance address five common practices that capitalize on chance and offer actionable strategies to minimize the capitalization on chance and improve the reproducibility and replicability of future ib research

neuroeconomic foundations of economic choice recent advances neuroeconomics combines methods and theories from neuroscience psychology economics and computer science in an effort to produce detailed computational and neurobiological accounts of the decision making process that can serve as a common foundation for understanding human behavior across the natural and social sciences because neuroeconomics is a young discipline a sufficiently sound structural model of how the brain makes choices is not yet available however the contours of such a computational model are beginning to arise and given the rapid progress there is reason to be hopeful that the field will eventually put together a satisfactory structural model this paper has two goals first we provide an overview of what has been learned about how the brain makes choices in two types of situations simple choices among small numbers of familiar stimuli like choosing between an apple or an orange and more complex choices involving tradeoffs between immediate and future consequences like eating a healthy apple or a less healthy chocolate cake second we show that even at this early stage insights with important implications for economics have already been gained

can purse seiners target yellowfin tuna both purse seine and longline fleets exploit yellowfin tuna in the western pa cific region management options available to achieve the optimal allocation of the yellowfin stock depend on whether purse seiners can con trol the species mix of their catch by targeting their fishing effort a fishing strategy to target effort on juvenile yellowfin is discussed and a supply model based on a revenue maximizing framework is estimated using data of japanese and u s purse seine vessels in papua new guinea the hypothesis of targeting is con firmed for the more modern u s fleet but not for the more traditional japanese vessels jel q22

the lehman sisters hypothesis markdownabstract abstract this article explores the lehman sisters hypothesis it reviews empirical literature about gender differences in behavioral experimental and neuro economics as well as in other fields of behavioral research it discusses gender differences along three dimensions of financial behavior risk aversion and response to uncertainty ethics and moral attitude and leadership the article argues that gender stereotypes are influential in finance constraining women to achieve top positions in banking and sustaining a strong masculine culture at the same time the analysis indicates that the few women who make it to the top tend to perform on average better than men in particular under uncertainty this is explained by a combination of gender beliefs gender stereotypes gender identity and flexible biological processes although further research is necessary the existing empirical literature would support a plea for having more rather than less women in financial trade risk management and at the top of the financial sector

emerging themes in international business research this study is motivated by two research questions 1 which recent contributions have been driving the research agenda in international business 2 which emerging themes in the literature are likely to set the stage for future work to examine these questions the study examined scholarly work in international business over the time period 1996 2006 in six leading international business journals journal of international business studies management international review journal of world business international marketing review journal of international marketing and international business review next a delphi study of the most prolific authors in these journals over the same time period was conducted to delineate a future research agenda in international business addressing these two research questions provides us with a more complete understanding of the progress made to date in international business research and provides a glimpse of the future

production quota in multiproduct pacific fisheries abstract assessing the individual firm s technology and costs in a multispecies fishery allows design of a more effective output quota prior to regulation by anticipating and controlling for the firm s regulation induced responses an empirical study of a pacific coast trawl fishery indicates that the firm s flexibility of product decision is tightly constrained by its technology and cost structure hence as the resource stock for the regulated species sablefish deteriorates and the trip quota progressively tightens the firm cannot sufficiently reorganize its product bundle to preclude increasingly large sablefish disposal this defeats the purpose of the production quota

a macroprudential approach to financial regulation many observers have argued that the regulatory framework in place prior to the global financial crisis was deficient because it was largely microprudential in nature a microprudential approach is one in which regulation is partial equilibrium in its conception and aimed at preventing the costly failure of individual financial institutions by contrast a macroprudential approach recognizes the importance of general equilibrium effects and seeks to safeguard the financial system as a whole in the aftermath of the crisis there seems to be agreement among both academics and policymakers that financial regulation needs to move in a macroprudential direction in this paper we offer a detailed vision for how a macroprudential regime might be designed our prescriptions follow from a specific theory of how modern financial crises unfold and why both an unregulated financial system as well as one based on capital rules that only apply to traditional banks is likely to be fragile we begin by identifying the key market failures at work why individual financial firms acting in their own interests deviate from what a social planner would have them do next we discuss a number of concrete steps to remedy these market failures we conclude the paper by comparing our proposals to recent regulatory reforms in the united states and to proposed global banking reforms

implications of a discard ban in multispecies quota fisheries we present an analysis of quota regulation and discarding in multispecies fisheries explicitly taking into account the costs of non compliance with quotas and a possible discard ban as well as the costs of selective fishing avoidance effort we examine the impact of a discard ban on vessels profit maximising behaviour in particular where species quotas are not set in proportion to their availability on the fishing grounds considering both non tradeable quotas and itqs we show the interdependence between penalty rates for both discards and over quota landings in determining quota market outcomes we find that quota prices are sensitive to penalty rates and to the presence of restrictive quotas for choke species

is the international business research agenda running out of steam this research note challenges international business researchers to think of their future work in terms of the past achievements of their discipline it identifies three key research areas corresponding to attempts to tackle crucial empirical questions the explanation of foreign direct investment the multinational firm and the globalization of business it ends by considering the future research agenda

international factor mobility minimum wage rates and factor price equalization a synthesis this paper examines the behavior of a small open economy facing perfectly elastic supply curves for some of its productive factors in particular the paper derives some comparative statics properties of such economies compares them with the properties of otherwise identical economies in which all factor prices are determined endogenously and investigates the relationship between factor price rigidities factor price equalization and the pattern of specialization among the new results which are proved it is shown that as more and more factor price rigidities are imposed on an economy it comes closer to a state of factor price equalization

measures of welfare effects in multiproduct industries the case of multispecies individual quota fisheries a framework is developed to measure the welfare effects of individual quota reforms in multiproduct industries using the multimarket welfare measure techniques suggested by just hueth and schmitz 1982 and the concept of virtual price in the production theory literature neary 1995 squires and kirkley 1996 under joint in input production it is shown that quasirent under a single quota can be measured by the producer surplus either in the output market for quota output or in the quota market under multiple quotas the welfare effects of quota policies can be measured in one of the quota markets using inverse derived equilibrium demand curves these results are obtained for a joint in input technology where positive production of at least one of the quota outputs is necessary for the firm to continue to operate application of the inverse derived demand functions for welfare measurement is shown for both transferable and nontransferable quotas

a modest proposal how we might change the process and product of managerial research the article focuses on possible changes in the discipline of management science and how the methodology and presentation of its research might be improved the main goals of management science sch

board gender diversity and corporate response to sustainability initiatives evidence from the carbon disclosure project this paper investigates the effect of female representation on the board of directors on corporate response to stakeholders demands for increased public reporting about climate change related risks we rely on the carbon disclosure project as a sustainability initiative supported by institutional investors greenhouse gas emissions measurement and its disclosure to investors can be thought of as a first step toward addressing climate change issues and reducing the firm s carbon footprint based on a sample of publicly listed canadian firms over the period 2008 2014 we find that the likelihood of voluntary climate change disclosure increases with women percentage on boards we also find evidence that supports critical mass theory with regard to board gender diversity these findings reinforce initiatives being undertaken around the world to promote gender diversity in corporate governance while demonstrating board effectiveness in stakeholder management

improving generalizations from multi country comparisons in international business research in this paper we address the problem of questionable generalizations from comparing small numbers of countries in international business ib research we illustrate the misleading results that can arise from sparse samples whether the relationship between national level variables is strong economic development and corruption or weak population density and trust we show that 35 of recent international comparisons in leading ib journals examined just two or three countries and present an exploratory analysis of 123 variables that reveals typical correlations across countries to be rather moderate average r 0 24 to help interpret extant study findings we provide formulas and graphs based on bayesian analysis and introduce a method of combining results from multiple international comparisons we also describe methods for designing studies to give stronger evidence of relationships between variables our results suggest that a minimum of 7 10 countries may support credible international generalizations but only when overall trends are very strong a key strategy for improving ib generalizations is to use larger samples of countries because research based on common sample and effect sizes may lead to generalizations that the findings do not justify

towards a renaissance in international business research big questions grand challenges and the future of ib scholarship in this article we review critiques of international business ib research with a focus on whether ib scholarship tackles big questions we identify three major areas where ib scholars have addressed important global phenomena but find that they have had little influence outside of ib and only limited effects on business or government policy we propose a redirection of ib research towards grand challenges in global business and the use of interdisciplinary research methods multilevel approaches and phenomena driven perspectives to address those questions we argue that ib can play a more constructive and vital role by tackling expansive topics at the business societal interface

multilevel models in international business research multiple level or mixed linear modeling mlm can simultaneously test hypotheses at several levels of analysis usually two or three or control for confounding effects at one level while testing hypotheses at others advances in multi level modeling allow increased precision in quantitative international business ib research and open up new methodological and conceptual possibilities however they create new challenges and they are still not frequently used in ib research in this editorial we outline some key methodological issues for the uses of mlm in ib including criteria sample size and measure equivalence issues we then examine promising directions for future multilevel ib research considering comparative opportunities at nation multiple nation cluster and within nation region levels including large multilevel databases we also consider its promise for mne research about semi globalization interorganizational effects across nations clusters within nations and teams and subsidiaries within mnes

quota induced discarding in heterogeneous fisheries abstract individual quota iq programs are a promising and increasingly common means of regulating fisheries this paper examines how profit maximizing fishers respond to different types of iq programs in fisheries where many types of fish are harvested simultaneously this analysis shows that the most common types of individual quota programs can induce discarding and that individual quota programs that regulate the value of harvests never induce discarding since discarded fish have a high mortality rate value based individual quota programs are superior to their more conventional counterparts in that they waste fewer fish the disadvantages of value based quotas are also examined results are driven by the fact that the harvest technology examined here does not satisfy a free disposal assumption since this free disposal assumption is ubiquitous in production theory and not obviously true the framework developed herein may be useful for analyzing a broad class of problems involving joint production