Search results

In the shipping industry, both sales and purchases of second-hand ships and freight transport services are prevalently tailormade and traded with intense bilateral negotiations. Price bargaining is the key step of this negotiation process and plays a crucial role in determining mutually agreed prices. Despite its cruciality and applicability, the price bargaining has yet received due conceptual and/or theoretical attention in the shipping literature. This paper attempts to conceptually examine the role of bargaining in shipping transaction prices and subsequently puts forward directions for future research. In doing so, the paper focuses on two types of transactions taking place in shipping markets: asset market trading of second-hand vessels and service market trading shipping freights.

The paper begins with a systematic literature review of price bargaining in the field of economics and management disciplines from a game-theoretic perspective. This approach does logically lead to the establishment of a conceptual framework for price bargaining in shipping sub-markets as a step toward having taken into consideration a variety of heterogeneities commonly present in trading activities and market dynamics.

A set of research areas has been consequently identified where price bargaining and mechanisms for the shipping freight and asset markets could be further explored and analyzed in a way to make better pricing decisions under a more tangible framework.

One of the critical challenges when using bargaining mechanisms to make a decision on pricing shipping services and assets is how to operationalize the study for empirical investigation as some of the factors are internal information of the players and are not adequately revealed to externals: that is, an imperfect information sharing case. The current study aims, however, not to conduct an empirical analysis but to initiate a conversation among maritime economists by bringing their attention to this not-yet fully explored and potentially impactful field of research and by asking them to treat bargaining from a perspective for pricing shipping assets and services. It is claimed that, by doing so, one could better understand price differences between individual contracts.

This study would be considered the first of its kind to provide a detailed survey of the bargaining theory and models from a game theoretical perspective as a theoretical lens to understand its importance and relevance in pricing shipping assets and services. It also provides a simplified operational case on utilizing bargaining in practically pricing freight services.

This paper examines the extent of bargaining concessions in recession through investigating the effects of union bargaining on pay, job security and workforce composition.

Drawing on an original survey (n = 400) of workplace level trade union bargaining units in England, the authors employed latent class analysis to establish three groups of bargaining units on the basis of pay outcomes achieved. Linear regression analysis with moderation effects investigated whether pay rises at or above inflation in conjunction with shifts in bargaining priorities was associated with decreases in perceived job security and changes in the composition of the workforce.

Around a quarter of sampled units, concentrated mostly in decentralised bargaining units in the private sector, achieved pay rises at or above the inflation rate during an economic downturn. Pay rises at or above inflation in workplaces severely affected by recession triggered changes in bargaining priorities requiring some concessions, notably in terms of employees' job security. That said, across the sample, achieving pay rises was associated with improved perception of job security and lesser use of contingent labour.

The findings uncover a subset of bargaining units able to secure positive outcomes for workers against a hostile economic tide, whilst demonstrating that concession bargaining is not inevitable but rather contingent on the micro-environments in which union bargaining takes place.

The purpose of this paper is to offer a critical examination of industrial relations in Denmark.

The approach is based upon available data and a mixture of Marxist theory and systems theory. The theoretical position is discussed in relation to the academic discourses on the main characteristics of Danish industrial relations and provides a review of the foundation and historical development of the Danish system.

From this basis, it is analysed how the stagnation or decline has taken place in recent years regarding representation of workers’ interest as well as the ability of the Danish system to maintain its key importance when challenged by decentralisation, decreasing union affiliation rates, cuts in unemployment insurance and social dumping due to labour migration.

It is an original paper which offers a critical analysis of the institutional decline and increasing inequality that are the result of the liberalist political-economic hegemony.

The paper aims to analyze collective bargaining in the facility management business of these six countries to explore similarities and differences between them. The analysis serves to test the differential impact of the national institutional setting on the protection provided by collective agreements to facility management workers.

The paper adopts a case study methodology to approach a facility management multinational company providing services in six European countries (France, Italy, The Netherlands, Poland, Spain and the UK) that represent different industrial relations systems with variance in key dimensions of collective bargaining, including its structure, coverage and extension of agreements.

The extension of the facility management business model has not always adopted a high-road strategy aimed at enhancing the quality and efficiency through the integrated management and delivery of services, which is expected to positively impact employment conditions. Rather, it has, in many cases, been a deliberate, low-road attempt to undercut working standards, taking advantage of the multiple services provided by the company in a context of growing de-centralization in collective bargaining. The results point to an important role of industrial relations institutions in shaping facility management strategies and outcomes.

Similar to other forms of outsourcing, facility management leads to fragmented employment relations. However, the concentration of outsourced workers under the same supplier organization introduces opportunities to ensure the protection of workers, depending on the adoption of a high- or low-road competitive strategy. This paper provides for the first time comparative evidence about industrial relations in facility management businesses, a largely under-researched area.

Based on Behavioral Theory of Negotiations (Walton & McKersie, 1965), the purpose of this paper is to discuss the existing gap between negotiation theory and pedagogy and presents an experiential teaching tool that closes this gap. The tool is a ‘serious game’ (Abt, 1975) that reinforces all four core negotiation subprocesses while allowing students to practice their negotiation skills and several critical business competencies in a realistic and improvisational context.

After successfully using NegotioPoly for five years, qualitative and quantitative data were collected in three sections of negotiation classes to assess student learning and behaviors while playing NegotioPoly and to collect student feedback on the effectiveness of NegotioPoly in teaching and reinforcing key negotiation skills.

Findings support that NegotioPoly is highly effective in engaging students in a series of realistic negotiations, joint problem solving and strategic decision-making. Results show that, during the game, students demonstrate their negotiation skills and learnings, and they practice all four negotiation subprocesses of distributive, integrative and intraorganizational bargaining and attitudinal structuring.

NegotioPoly enables students to engage in distributive and integrative bargaining, multiple levels of negotiations and coalitions in quick succession. Students practice organizational politics and adjust their negotiations based on relationships and social realities, as they demonstrate advanced deal-making behaviors and core business competencies of problem solving, decision-making, analytical skills and ability to work with others.

NegotioPoly reinforces core business competencies such as negotiation, problem solving, analytical skills and the ability to work in teams that employers look for and, therefore, is a useful tool for preparing students for the business world.

NegotioPoly is an experiential learning tool that closes the gap between negotiation theory and pedagogy while providing deep learning and realistic practice opportunities for students where they can use their negotiation skills in a gaming environment that uses multi-party and multi-round negotiations.

The theory presented suggests that underwriters are both advisors and independent agents in the issuerʼs attempt to send “signals” of quality to investors by making pre-IPO organizational changes. These pre-IPO gambits are intended to increase IPO proceeds, and preemptively address potential investor concerns that would deter them from subscribing. These organizational changes initially can financially benefit founders, early investors and underwriters. But they can also have a longterm impact that some issuers, especially founders, would prefer to avoid. Utilizing signaling and resource-based power, we find that underwriter power is significantly associated with making pre-IPO gambits and lower levels of underpricing.

This paper examines whether farmers' knowledge of the minimum support prices (MSPs) affects farm-gate prices. MSP is the minimum guaranteed price for agricultural commodities announced by the Government of India for 24 commodities. Most farmers in India prefer to sell their produce at the farm-gate due to a small marketable surplus and hence do not directly benefit from MSP. The authors test the common argument in the political discourse that if farmers have knowledge of MSP, then they can bargain with traders during the farm-gate transaction and demand a better price close to MSP.

The authors use matching methods to examine the impact of knowledge of MSP on farm-gate prices.

Using nationally representative data, the authors show that there is no empirical evidence that the knowledge of MSP of the crops leads to higher bargaining power and better farm-gate prices.

Price information (MSP in this case) alone cannot improve the bargaining power of farmers and result in a better price realization. As a safety net, MSP fails in the absence of procurement of products by the government. This also raises the question of the equitability of the price support system in India and calls for a rethink of the MSP policy.

This study is the first of its kind to examine the anchoring effect of knowledge of MSP on farm-gate prices using a nationally representative dataset.