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This study examines the effect of inflation on stock returns in the context of the policy reaction function theory. This theory contends that the nature and extent of the government’s policy reaction to inflation will depend upon the current level of economic activity. A contractionary policy, which will depress stock returns, is more likely when the economy is a ta business cycle peak than at a trough. Therefore, the effect of inflation on stock returns varies with the stage of the business cycle. In order to test this theory, monthly consumer price indices, capacity utilization indices, and stock returns were examined. The results of using the returns of both a market index and a sample of individual companies between 1962 and 1988 support the theory.

Volume 25 celebrates the 25th year of publication for the American Journal of Business (AJB). Launched by eight MAC schools of business in March 1986, the Journal has featured more than 700 authors who have contributed more than 330 research articles at the intersection of theory and practice. From accounting to marketing, management to finance, the Journal prominently covers the breadth of the business disciplines as a general business outlet intended for both practitioners and academics. As the Journal reaches out beyond the MAC in sponsorship, authorship, and readership, we assess the Journal’s first quarter century of impact.

In recent years, energy efficiency is a topic of growing importance not only on the political agenda of many Western countries, but also in the management of individual housing providers in these countries. Although there are many publications on how these organisations take up the topic of energy efficiency in their policies and activities, not so much has been written about the progress in policy in the national housing sectors as a whole. This paper presents the results of an investigation about the policy developments in the non-profit housing sector in the Netherlands, in which the present situation is compared with that of four years ago. Where did the Dutch non-profit housing providers stand in their policy development concerning energy efficiency, and where do they stand now? Have they become more ambitious or less ambitious? The paper also deals with the main stimuli and barriers that the non-profit housing providers have perceived. The findings show a progress in policy in the period under investigation, but this progress seems too small to attain national and international targets for 2020.

It will be recalled that the last monograph treated the significance of the collective agreement in society. If solely a function in society, (though having a legal basis), were to be attributed to the collective agreement, this would mean that no rights or obligations whatsoever would be created between the parties to it. This is not so in practice. It is of course a fact that no legally enforceable rights and obligations normally accrue, and as already indicated, those are moral ones and are only enforceable in honour, i.e. a gentleman's agreement. Nevertheless, this does not necessarily mean that the collective agreement has no juridical significance. Even agreements which are binding in honour only, as for example the kind of agreement found in Balfour v. Balfour, have a known juridical nature. Furthermore, though the collective agreement is only binding in honour, its incorporation into the individual contract of employment makes its terms legally enforceable even though recourse to the courts is seldom had. As a source of rights and obligations of considerable importance the collective agreement must therefore have some juridical significance and cannot remain entirely in the realms of society.

Whatever debates may have taken place in the past in the courts and elsewhere on the status of trade unions, current legislation provides that a “… trade union … is not a body corporate …” and “…shall not be treated as if it were a body corporate…” For practical reasons however, a trade union is, inter alia, “… capable of making contracts …” which includes the entering into a collective agreement.

Organizational research on diversity, equity, and inclusion (DEI) is at times siloed; the experience of one minoritized or underrepresented group is treated as completely separate and different from the experience of another group and thus research separately. For example, there are terms that are studied only in the context of one group, and a different term is used to study a very similar (or identical) concept among a different group. Indeed, there are many unique experiences that specific minority groups encounter at work. Because of this end, minority groups should not be fully categorized together, and their individual should not be erased. However, there are shared experiences that many or all minorities experience at work, whether they are a gender minority, racial minority, or a member of any other minoritized group. Recognizing these shared experiences can help scholars develop a deeper understanding of what it's like to be minoritized or underrepresented at work, and therefore help to better serve these communities. To this end, our chapter highlights three such shared but unique minority experiences: three experiences that are common across all minority groups but operationalize slightly differently in different populations. The first experience we discuss is discrimination, as all minorities typically experience some form of negative differential treatment at work. The second experience we discuss is identity management, as many minorities need to actively think about how they present their minority identity to others (regardless of if their identity is “concealable” or not). Finally, we discuss strength through adversity, as many minorities argue that their minority identity is a source of strength and an area that benefits them at work. We conclude the chapter with a call toward intraminority solidarity, suggesting that recognizing shared experiences and working together can help build better workplaces for all minority employees.

This study uses an equity valuation model to investigate the extent to which SFAS No. 52 unrealized foreign currency translation gains and losses are reflected in levels of equity security prices. Equity security price is used as the dependent variable in our selected model. Book value of equity (adjusted for the cumulative translation gain or loss), earnings, and cumulative translation gains and losses are used as independent variables. Our results indicate that, generally, translation gains and losses are valued, but losses have a greater impact than gains and the value seems to change over time in setting the levels of equity share prices of USbased MNCs. On a pooled basis, the results are clearly statistically significant, although the statistical significance of the results appears to vary with the annual time period examined. Our results are consistent with the SFAS No. 52 intention that these gains and losses be treated as unrealized as the net exposure is considered long‐term in nature for foreign currency functional currency subsidiaries. Our results appear consistent with extant literature suggesting that unrealized foreign currency translation gains and losses are directly valued ‐ although not dollar for dollar ‐ in a manner similar to earnings (i.e., unrealized gains are associated with positive equity returns and unrealized losses are associated with negative equity returns).

Food wastage is a major contributor to pervasive world hunger. Cutting global food waste in half by 2030 is one of the United Nation's top priorities. Hence, this paper aims to provide useful insights on how individual behavior might be influenced to help reduce food wastage and hunger by identifying individual food waste determinants.

A total of 297 useable responses were obtained from a survey using a food diary method. A logit model was employed to estimate the relationship between leftovers and its determinants (preparedness to take own action, price conscious, food review, religiosity, health conscious, cost, marital status and gender).

Results show that preparedness to be responsible for one's actions, depending on food reviews and being waste conscious had a significant positive relationship with food waste reducing behavior, along with being male and being married.

The study suggests that there is scope for policy initiatives to reduce the individual utility from discarding food and increase the individual utility from food saving activities. Penalizing individual or household food wastage through a tax will directly raise the cost of wastage and reduce the net utility from discarding food. Reducing food waste could help reduce global hunger.

Rationally, no one will have any intention to waste when buying food. Instead, in the context of deciding whether or not to leave leftover food, an individual is posited to weigh the potential utility from saving food or throwing it away. Thus, this study examines food waste behavior by utilizing economic tools, which is rare in the food waste literature.