China-US summit yields more strains than gains

Significance Several recent strains in the relationship guaranteed a tense official dialogue and tepid reception of Xi across Washington -- the impact of China's economic slowdown on the US stock market, accusations of Chinese cyber theft of US government workers' personal data, and continued maritime tensions. Impacts China's climate change commitments will improve its international image, but will not reduce tensions on other issues. Washington will impose sanctions if it believes China is breaking the new cybercrime agreement. US politics ahead of next year's presidential election will put more strain on China-US relations. Dialogue on the South China Sea is unlikely to bear fruit while Washington's policy is undecided.

2016 ◽  
Vol 21 (3) ◽  
pp. 154-161
Author(s):  
Rebecca Monteleone

Purpose – The purpose of this paper is to provide a brief overview of policy regarding employment for individuals with intellectual disabilities (ID) in the USA. Drawing from recent data, it assesses the impact of policy on current employment services and rates of employment. Design/methodology/approach – An introduction provides details regarding the benefits of employment for individuals with disabilities, current demographic information in the USA and salient definitions. Next, ten key national laws and one state law relating to employment for individuals with disabilities are outlined briefly. Finally, current outcomes for adults with disabilities are presented in order to assess the implementation and effectiveness of the legislation presented. Findings – Whilst this paper is a policy review, and therefore no novel findings have been produced, it is clear by juxtaposing the mandates enacted by the US Government with practical outcomes that there is a need to assess implementation and effectiveness of such legislation. Originality/value – It is imperative to scrutinize policy in the context of practical outcomes in order to assess its viability and relevance. Additionally, it is crucial that practitioners and academics be aware of the legislation that impacts the populations with whom they interact. Finally, in the context of this publication, it is important that researchers and practitioners in the UK understand US policy, and likewise US professionals understand UK policies in order to facilitate greater cross-cultural communication and collaboration for the mutual benefit of both nations.


Author(s):  
Roger Martin ◽  
Richard Florida ◽  
Melissa Pogue ◽  
Charlotta Mellander

Purpose – This paper aims to marry Michael Porter’s industrial cluster theory of traded and local clusters to Richard Florida’s occupational approach of creative and routine workers to gain a better understanding of the process of economic development. Design/methodology/approach – Combining these two approaches, four major industrial-occupational categories are identified. The shares of US employment in each – creative-in-traded, creative-in-local, routine-in-traded and routine-in-local – are calculated, and a correlation analysis is used to examine the relationship of each to regional economic development indicators. Findings – Economic growth and development is positively related to employment in the creative-in-traded category. While metros with a higher share of creative-in-traded employment enjoy higher wages and incomes overall, these benefits are not experienced by all worker categories. The share of creative-in-traded employment is also positively and significantly associated with higher inequality. After accounting for higher median housing costs, routine workers in both traded and local industries are found to be relatively worse off in metros with high shares of creative-in-traded employment, on average. Social implications – This work points to the imperative for the US Government and industry to upgrade routine jobs, which make up the majority of all employment, by increasing the creative content of this work. Originality/value – The research is among the first to systematically marry the industry and occupational approaches to clusters and economic development.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Xuguang Guo ◽  
Wei Chen ◽  
Denis Iurchenko

PurposeThis study examines the impact of college education on incorporated and unincorporated self-employments. It specifically compares the effects on African Americans and Hispanics with the effects on Whites.Design/methodology/approachThe study sample was drawn from the US Current Population Survey between 1989 and 2018. Based on a sample size of 1,657,043 individuals, this study employed logit regression models to test the hypotheses. Racial variations were examined using African Americans and Hispanics as moderators.FindingsThe results suggest that college education increases incorporated self-employment and reduces unincorporated self-employment. The impact of college education on incorporated self-employment is stronger for African Americans and Hispanics than for Whites. In contrast, its effect on unincorporated self-employment is stronger for Whites than for African Americans and Hispanics.Research limitations/implicationsThe findings provide empirical evidence of how college experience changes the motivation of starting an incorporated or unincorporated business. The results suggest that college education impacts African Americans and Hispanics differently than Whites in pursuing their career path of entrepreneurship.Originality/valueIt is the first study that examines the relationship between college education and incorporated/unincorporated self-employment. It also sheds light on radical variations.


2019 ◽  
Vol 11 (1) ◽  
pp. 6-37 ◽  
Author(s):  
Barbara Orser ◽  
Allan Riding ◽  
Julie Weeks

Purpose Because procurement policies are one of the means of redressing discrimination and economic exclusion, the US Government has targeted 23 per cent of its annual half-trillion dollar spend to small- and medium-sized enterprises (SMEs) and 5 per cent of its spend to women-owned businesses. Design/methodology/approach The research framework is informed by two theoretical paradigms, feminist empiricism and entrepreneurial feminism, and uses a secondary analysis of survey data of active federal contractors. Findings Empirical findings inform the extent to which certifications are associated with bid frequency and bid success. The results indicate that none of the various certifications increase either bid frequency or bid success. The findings are consistent with entrepreneurial feminism and call for federal accountability in contracting with women-owned supplier firms. Research limitations/implications The findings are consistent with entrepreneurial feminism and call for federal accountability in contracting with women-owned supplier firms. Practical implications Recommendations include the need to review the impact of consolidated tenders on designated (as certified) SME vendors and to train procurement personnel about the economic contributions of women-owned businesses. Originality/value This research studies the efficacy of various certifications, with particular reference to that of women-owned, on the frequency with which SMEs bid on, and succeed in obtaining, US federal procurement contracts.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Khandokar Istiak

Purpose Broker-dealer leverage volatility increases during booms and crisis periods, but its impact on stock prices is relatively unexplored. This paper aims to investigate whether broker-dealer leverage volatility is a key driver for stock prices. Design/methodology/approach This paper collects the US quarterly data of broker-dealer book leverage and three leading stock market indicators (S&P 500, DJIA and Nasdaq) for the period of 1967–2018. The research uses a multivariate GARCH-in-mean VAR to examine the impact of leverage volatility on each of the stock market indicators. A split-sample analysis (pre-1990 and post-1990) has also been performed to show the robustness of the result. Findings The research finds that broker-dealer leverage volatility does not have any significant impact on stock prices. Originality/value Broker-dealers are important financial intermediaries, and there is a huge literature exploring the relationship between their leverage and asset prices. But, the relationship between broker-dealer leverage volatility and asset prices is not explored yet. This study fills the gap and provides the first evidence that broker-dealer leverage volatility does not play any major role in the theory of stock pricing. The research proposes that the stock holding decisions of the investors should depend only on the first moment of leverage and not on the second moment of leverage. The study concludes that high broker-dealer leverage volatility is not a sinister signal for the US stock market.


2013 ◽  
Vol 39 (10) ◽  
pp. 938-962 ◽  
Author(s):  
Byeongyong Paul Choi ◽  
Jin Park ◽  
Chia‐Ling Ho

PurposeThe purpose of this study is two‐fold. The first purpose is to properly measure the level of US property and liability (P/L) insurers liquidity creation, applying the liquidity creation measure developed by Berger and Bouwman. The second purpose is to identify factors affecting P/L insurers' liquidity creation using a regression. Particularly, this paper tests two competing hypotheses regarding the relationship between the level of capital and liquidity creation.Design/methodology/approachThe paper calculates liquidity creation for the US P/L insurers. First, the paper categorizes all items in assets, liabilities and surplus into liquid, semi‐liquid, or illiquid. This process is based on the ease, cost, and time for insurers to meet their contractual obligation to obtain liquid funds or to pay off their liability. The paper also constructs the regression model to test the impact of insurers' surplus level on liquidity creation while controlling for the firm‐specific variables. The paper examines this relationship for the time period between 1998 and 2007.FindingsContrary to the study of depository institutions, the paper reports that P/L insurers are liquidity destroyers than liquidity creators. This paper also provides that liquidity destruction varies over time and differs among insurers in different size. The total amount of liquidity destruction ranges from 47 to 58 percent of insurer total asset. In addition, the results of a regression show that insurer capital is negatively related to the level of liquidity creation. This provides implications that insurers with lower level of capital face more regulatory requirements and are forced to meet liquidity demand more.Practical implicationsThe level of liquidity creation and the trend of liquidity creation of P/L insurers are of particular interest to regulators and consumers because the level of liquidity creation as shown during the financial crisis has a significant adverse impact on the financial intermediaries.Originality/valueThe paper do not aware of any study that attempts to measure liquidity creation by insurers and its relationship with both organizational and financial characteristics. The paper reports that P/L insurers are, unlike depository institutions, liquidity destroyers. Whether or not P/L insurers create/destroy liquidity is an interesting economic question to shed light on the roles of P/L insurers as a financial intermediary.


2018 ◽  
Vol 10 (4) ◽  
pp. 358-382
Author(s):  
Inger L. Stole

PurposeThe purpose of this study is to analyze the increasingly congenial relationship between business and government that developed in the immediate post Second World War period. This study explores the subtle, but systematic, uses of advertising for propaganda purposes to secure American political and commercial world dominance. It locates the relationship between the US Government and the Advertising Council as key components in a strategy to blur the lines between political and commercial messages. In addition to study the relationship between the two stakeholders, the study identifies some of the implications for both. Design/methodology/approachScholarship on the government’s postwar relationships with other organizations is relatively scant and few other scholars have focused on the advertising industry’s role in this transformation. This paper draws on trade periodicals and newspaper accounts, and relies on archival material from the Arthur W Page and the Thomas D’Arcy Brophy collections at the Wisconsin State Historical Society and the Advertising Council’s papers at the University of Illinois. Charles W. Jackson papers, located at the Harry S. Truman Library, and the papers of Office of War Mobilization and Re-conversion, deposited at the National Archives, have also been consulted. FindingsThe Advertising Council’s “Peace” and “World Trade and Travel” demonstrate an acceleration of collaboration between business and government that continued into the postwar era. It shows the government’s willingness to trade on the Advertising Council’s goodwill and to blur the lines between political and commercial messages, in what can accurately be characterized as a duplicitous manner. Key conclusion includes a willingness among Washington’s policymakers to propagandize its own citizens, a strategy that it commonly, and disparagingly, ascribed to the Soviet Union, and a Council so willing to appease Washington, that it was putting its own reputation at considerable risk. Research limitations/implicationsThis paper is based on a study of two campaigns (“Peace” and “World Trade and Travel”) that the Advertising Council conducted in collaboration with the US State Department. While these were the first campaigns of this nature, they were not the only ones. Additional studies of similar campaigns may add new insights. Social implicationsRecent political events have brought propaganda and government collusion back on the public agenda. In an era of declining journalism credibility, rising social media and unprecedented government and commercial surveillance, it is argued that propaganda demands scholarly attention more than ever and that a historical study of how the US Government collaborated with private industry and used advertising as a propaganda smokescreen is particularly timely. Originality/valueThis study adds to the scholarship on advertising, PR and propaganda in several ways. First, it contributes to the understanding of the advertising industry’s important role in the planning of US international policy after the Second World War. Second, it demonstrates the increasingly congenial relationship between business and the US Government that emerged as a result. Third, it provides excellent insights into the Adverting Council’s transition from war to peacetime. The heavy reliance on archival material also brings originality and value to the study.


2017 ◽  
Vol 55 (10) ◽  
pp. 2089-2110 ◽  
Author(s):  
Manuel E. Núñez Izquierdo ◽  
Josep Garcia-Blandon

Purpose The purpose of this paper is to explore the ability of commercial governance ratings (CGR) to predict firm performance. Design/methodology/approach Based on the review of the corporate governance literature, the authors pose five hypotheses on the relationship between CGR and firm performance. Then, the authors test these hypotheses for the latest version of the Institutional Shareholder Services Inc. (ISS) index (Quickscore) with a sample of firms formed by the constituents of the Standard and Poor’s Europe 350 stock market index. Findings The authors have not found a consistent significant relationship between Quickscore ratings and firm performance. This main result holds across a variety of checks. Research limitations/implications Some of the additional analyses are conducted with rather small samples. The results of these analyses have to be carefully taken. Recommendations for further research are offered. Practical implications The results call into question the usefulness of CGR, marketed by influential consultant companies, and which are becoming increasingly popular among investors, as reliable predictors of firm performance. Originality/value Despite an increasing body of research on the use of CGR as predictors of firm performance, the available research is heavily concentrated in the US market. No previous study has explored this relationship using the recently developed ISS index Quickscore in a cross-European setting. The use of a cross-country sample of companies allows the authors to address the impact of institutional factors on the CGR-firm performance relationship. Moreover, the authors do not limit the study to the overall scores of the index but examine also the partial scores (pillars) which intend to assess specific dimensions of governance. This makes the evaluation of the relationship more complex and challenging.


2019 ◽  
Vol 25 (3) ◽  
pp. 271-286 ◽  
Author(s):  
Kristi N. Lavigne ◽  
Victoria L. Whitaker ◽  
Dustin K. Jundt ◽  
Mindy K. Shoss

Purpose The purpose of this paper is to examine the relationship between job insecurity and adaptive performance (AP), contingent on changes to core work tasks, which we position as a situational cue to employees regarding important work behaviors. Design/methodology/approach Employees and their supervisors were invited to participate in the study. Supervisors were asked to provide ratings of employees’ AP and changes to core tasks; employees reported on job insecurity. Findings As predicted, changes to core tasks moderated the relationship between job insecurity and AP. Job insecurity was negatively related to AP for those experiencing low levels of change, but was not related to AP for those experiencing high levels of change. Counter to expectations, no main effect of job insecurity was found. Research limitations/implications This study employed a fairly small sample of workers from two organizations, which could limit generalizability. Practical implications The study identifies changes to core tasks as a boundary condition for the job insecurity–AP relationship. Findings suggest that organizations may not observe deleterious consequences of job insecurity on AP when changes to core tasks are high. Originality/value Few researchers have examined boundary conditions of the impact of job insecurity on AP. Furthermore, inconsistent findings regarding the link between job insecurity and AP have emerged. This study fills the gap and expands upon previous research by examining changes to core tasks as a condition under which job insecurity does not pose an issue for AP.


2016 ◽  
Vol 35 (5/6) ◽  
pp. 314-327 ◽  
Author(s):  
Brooklyn Cole ◽  
Raymond J. Jones ◽  
Lisa M. Russell

Purpose The purpose of this paper is to empirically examine the relationship between psychological diversity climate (PDC) and organizational identification (OID) when influenced by racial dissimilarity between the subordinate and supervisor. Design/methodology/approach Ordinary least squares hierarchical regression analysis was run for hypotheses testing. Findings Three of the four hypothesized relationships were supported. Support was found for the direct relationship between PDC and OID. The moderator race was significant thus also supported. The moderator of dissimilarity was not supported. Finally the three-way interaction with race and dissimilarity was supported. Practical implications OID is an important variable for overall organizational success. OID influences a wealth of organizationally relevant outcomes including turnover intentions. Considering higher turnover exists for minority employees, understanding how diversity climate perceptions vary by employee race and therefore impact OID differently, helps managers when making decisions about various initiatives. Originality/value This study is the first the authors know of to investigate the impact of dissimilarity on the PDC-OID relationship.


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