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The purpose of this paper is to investigate how Chinese factories can attract and retain blue-collar workers. While higher wages are typically considered to be an…
The purpose of this paper is to investigate how Chinese factories can attract and retain blue-collar workers. While higher wages are typically considered to be an effective HR instrument in this regard, this paper argues for the relevance of ethics in the HR domain. To this end, the paper develops and tests the concept of socially responsible blue-collar human resource management (SRBC-HRM).
In a scenario-based experiment, 296 blue-collar employees from a Chinese garment factory responded to questionnaires measuring their job choice determinants regarding a fictitious employer. In the scenarios, pay level (average vs above average) and SRBC-HRM (good vs poor) were manipulated.
The results revealed significantly positive relationships between SRBC-HRM and Chinese blue-collar workers’ job choice determinants (employer attractiveness, employer prestige and recommendation intentions), which were moderated by workers’ perceived importance of employer prestige. However, there was no significant effect of above-average pay on the three job choice determinants. Moreover, average pay in combination with good SRBC-HRM had stronger effects on job choice determinants than above-average pay in combination with poor SRBC-HRM.
The study highlights the economic relevance of the ethical treatment of employees in the manufacturing sector. In addition, the findings challenge the predominant managerial view that monetary rewards are the most important factor for instilling productive employee attitudes and intentions.
Poor labor practices are still widespread in factories in emerging countries. By indicating that SRBC-HRM improves factories’ bottom line, the study provides a powerful rationale for factory managers to improve working conditions.
The present paper introduces the concept of SRBC-HRM specifically tailored to the context of blue-collar workers in emerging countries, who have received little attention in the literature. In addition, the findings demonstrate the economic relevance of SRBC-HRM.
The recent oil spill disaster in the Gulf of Mexico as well as a multitude of other corporate scandals repeatedly draw attention to the importance of good corporate…
The recent oil spill disaster in the Gulf of Mexico as well as a multitude of other corporate scandals repeatedly draw attention to the importance of good corporate governance. This paper seeks to explain the possible reasons for violations of principles of good corporate governance in corporate practice.
The paper opens with a brief illustration of the Deepwater Horizon case by relating BP's corporate governance rules to its actual decision making in the context of offshore drilling in the Gulf of Mexico. The insights gained through this analysis are used to identify a basic precondition for the realization of good corporate governance in corporate practice.
This paper finds a link connecting the conflicts in the relationship between short‐ and long‐term interests of corporations and good corporate governance. Occasionally, deficits in the institutional environment foster the pursuit of quick wins through violations of corporate governance rules. To resolve the tension between short‐ and long‐term objectives, good institutions are required that provide incentives for sustainable behavior without endangering corporations' short‐term competitiveness. This is the starting point for global governance efforts.
On the basis of the analysis in the paper, new implications for business are derived with respect to the relationship between corporate and global governance.
The paper derives a theoretical framework that captures the relationship between corporate governance and global governance. This framework identifies an interplay between corporate and global governance that allows corporations to bring good corporate governance to life and thereby to invest in the conditions of their sustainable success.
This paper aims to conceptually analyse the role of speculation in society to determine whether agricultural commodity index funds, a new form of speculation, contribute…
This paper aims to conceptually analyse the role of speculation in society to determine whether agricultural commodity index funds, a new form of speculation, contribute to sustainable development.
The theoretical arguments justifying the value of the market economic system for generating sustainable development and the positive contribution speculators make too in this context are elaborated. It is then considered whether the arguments justifying traditional speculation hold for agricultural commodity index funds.
Traditional forms of speculation contribute positively to sustainable development; primarily due to the information they uncover on demand and supply factors which affect prices. Agricultural index funds are a danger to sustainable development, as their transactions are not based on demand and supply factors but simply represent demand for the diversification effect which commodities generate when added to an investment portfolio.
The article offers a new approach to assessing whether agricultural index funds contribute to sustainable development. Empirical research has been conducted on whether speculation via index funds has unjustifiably affected commodity prices. However, results of these investigations have been inconclusive due to stark limitations in data availability. By approaching the issue from a conceptual point of view, the article delivers theoretically sound arguments as to why agricultural commodity index funds are likely to have an unjustifiable effect on prices and, hence, are a danger to sustainable development. This has strong implications for finance practice and regulation.