Financialization has been growing importance in macroeconomic perspectives since the finance-dominated capitalist relations have captured many of the specific positions in an aggregate economy. However, the empirical literature has substantially ignored the examination of the link between an increasing scale of financialization and the rising income inequality. In this study, a major hypothesis is based on the fact that the finance-dominated capitalism has a considerable effect on distributional practices through the channels of bargaining power. By applying the Kaleckian approach, the paper investigates the relationship between financialization and the labor share of national income using a panel dataset of 52 countries over the 1992-2012 period. The results suggest that a higher level of stock market development leads to a more unequal distribution of income and, thus, to the decline of wage share in the national income. Other factors such as globalization and technical change can also exacerbate the decline of wages, coupled with a decrease in the bargaining position of labor measured by unemployment rate and labor force participation rate.
Scholars and practitioners indicate that low level of employee engagement at work is currently one of the most alarming global economic problems. The potential consequence of this phenomenon is declining work performance. Therefore, it becomes important to understand the concept of work engagement, its meaning for employees, and implications for employers. The article is a systematic review of the body of literature, presenting the results of research on the association between employee engagement and various performance categories. The paper’s objective is to summarize prior studies based on their ordering and categorization, identify gaps in the current knowledge, and propose an agenda for future research. The article presents these findings in a synthetic manner, offering practical and academic implications arising therefrom. Results of the review indicate that, in the case of most peer-reviewed publications, a statistically significant relation between employee engagement and numerous categories and subcategories of performance was confirmed.
In many countries, labor courts play a central role in the determination of firing costs by monitoring and supervising the procedures for dismissals, and, eventually, deciding severance payments mandated by the employment protection legislation (EPL). To get some insights about the impact of labor courts on effective firing costs, we explore a new database that contains information on labor courts’ intervention in firings before and after the implementation of significant EPL reforms modifying severance payments and procedures for dismissals. Our results suggest that labor court rulings on economic dismissals did not fully translate the reduction of firing costs mandated by the new EPL to effective firing costs.
The aim of the paper is to present how important is the management of relational capital and present the results of empirical research constituting a part of a pilot study on relational capital management by Polish enterprises.
They were conducted among managers of 82 enterprises operating in Poland. The research method was the diagnostic survey method (technique of the distributed questionnaire).
The findings of the conducted research indicate that the surveyed companies establish numerous relationships with various groups of stakeholders. These relationships are characterised by different frequencies and varying degrees of significance from the point of view of development of the surveyed companies. The relationships are established in an intentional manner as well as a result of exploiting emerging opportunities. RC management, however, is not a strong point of the surveyed companies.
We generalize the Zermelo navigation on Riemannian manifolds (M; h), admitting a space dependence of a ship's speed 0 < |u(x)|h ≤ 1 in the presence of a perturbation W̃ determined by a strong (critical) velocity vector field satisfying |W̃ (x)|h = |u(x)|h, with application of Finsler metric of Kropina type.
Let X be a Banach space while (Y,⪯) a Banach lattice. We consider the class of “upper separated” set-valued functions F : X → 2Y and investigate the problem of the existence of order-convex selections of F. First, we present results on the existence of the Carathéodory-convex type selections of upper separated multifunctions and apply them to investigation of the existence of solutions of differential and stochastic inclusions. We will discuss the applicability of obtained selection results to some deterministic and stochastic optimal control problems.
Employees’ job satisfaction is an important factor of shaping the organizational business performances. However, job satisfaction might depend on employees’ personality dimensions, such as: extraversion, negative affectivity, conscientiousness, agreeableness and openness to new experiences. Besides that, the employees’ job satisfaction, but also their personality dimensions, might be affected by the employees’ education degree. In respect to that, this research was oriented towards determining the effects of the employees’ education degree on the correlation between the employees’ job satisfaction and their personality dimensions. The survey research sample consisted of 116 respondents, employed within a large public monopolistic organization, oriented towards the energy sector, operating in transitional society. The research results indicated that employees’ education degree shaped the correlation between all personality dimensions, on the one hand, and the pay, benefits, relation between coworkers, supervision and nature of the work facets of job satisfaction, on the other. Beside theoretical contribution, the research results might have practical implication through providing the information necessary for improving human resource management in Serbia, a transitional economy with general business conditions different from those in developed countries.
References 1. Barbu, V.; Triggiani, R. - Internal stabilization of Navier-Stokes equations with finite-dimensional controllers , Indiana Univ. Math. J., 53 (2004), 1443-1494. 2. Constantin, P.; Foias, C. - Navier-Stokes Equations , Chicago Lectures in Mathematics, University of Chicago Press, Chicago, IL, 1988. 3. Temam, R. - Navier-Stokes Equations and Nonlinear Functional Analysis , Second edition, CBMS-NSF Regional Conference Series in Applied Mathematics, 66, Society for Industrial and Applied Mathematics (SIAM), Philadelphia, PA, 1995.
References Barbu, V. - Analysis and Control of Nonlinear Infinite-Dimensional Systems , Mathematics in Science and Engineering, 190, Academic Press, Inc., Boston, MA, 1993. Barbu, V.; Sritharan, S. S. - Flow invariance preserving feedback controllers for the Navier-Stokes equation , J. Math. Anal. Appl., 255(2001), 281-307. Barbu, V.; Triggiani, R. - Internal stabilization of Navier-Stokes equations with finite-dimensional controllers , Indiana Univ. Math. J., 53 (2004), 1443-1494. Brézis, H. - Opérateurs Maximaux Monotones et Semi-Groupes de Contractions