Rethinking certification theory and the educational development of the United States and Germany

This essay places work certification at the center of all modern educational regimes. I sketch the growth of the education, training, and certification systems of the United States and Germany in new ways, highlighting the role of their highly divergent certification regimes in shaping them. Whereas Germany's education and training system, anchored in the economy through employers’ associations and unions, accords well with human capital models, American practice, governed primarily by academic interests divorced from the economy, fits much better with credentialist theory. I consider how the absence of meaningful work certification at the secondary level in the US negatively affects educational justice and has encouraged the creation of a costly, inegalitarian system of higher education. Finally, I conclude with an assessment of human capital, signaling, control, and credentialist theories of certification, one that finds them all to some degree wanting.     

To File Or Not To File? Systemic Incentives, Corporate Control, and the Bankruptcy Decision

This research investigates the distinctions between bankrupt firms and equally leveraged firms that avoid bankruptcy. Building upon the systemic incentives of bankruptcy law, and specifically those applicable to Chapter 11 reorganizations, the study argues that the firm’s governance and capital structure characteristics moderate the relationship between the firm’s financial condition and the filing decision. The results of this study indicate that, contrary to agency theoretical predictions, firms with high levels of inside equity ownership and secured indebtedness file in poorer financial condition than peer firms with low levels of these variables. By contrast, firms with high levels of outside equity ownership and short-term indebtedness file when in relatively better financial condition.     

A Person-Environment Fit Model for Virtual Organizations

While the increasing sophistication of information technology has led to the spread of virtual organizations, there has been very little research on what factors contribute to individuals’ effectiveness in such organizations. This paper argues that organizations possess different degrees of virtuality based on four dimensions of temporal, spatial, cultural, and organizational dispersion. Using a person-environment fit framework, a theoretical model that identifies individual qualities required to fit into virtual organizations, virtual teams, and virtual jobs is developed, taking into account dimensions and degrees of virtuality. Mechanisms for enhancing fit in virtual organizations as well as theoretical and practical implications of the model are addressed.     

How Co-operative is Co-operative Purchasing in Smaller Firms?: Evidence from UK Engineering SMEs

Most SMEs do not try to engage in co-operative purchasing arrangements, and even those that do don’t handle them very well. Examining a sample of SME engineering firms from the UK Midlands for signs of more advanced practice, the authors identify three types of behaviour: firms with deliberate strategies (where co-operative purchasing is a consciously-designed and long-term part of management policy); firms with close ties with their suppliers but which still operate fundamentally adversarial policies (where, despite some development of practice, defensive, short-term and ‘low-trust’ attitudes still predominate) and those whose strategies, maybe of long standing, ‘just happened’ and are described as still emergent. The article analyses these positions to yield lessons for managers, recognising that, as firms grow, emergent strategies will need replacing with something more codified.