Private Ownership versus Institutional Ownership: Exclusion Pricing of Initial Public Offerings

The authors examine the literature with respect to the pricing of initial public offerings and focus upon the relationship of pricing to the structure and conduct of the investment banking industry. Using a data base of all share offerings undertaken in the United States over a two and a half year period, the authors find that there is considerable evidence for the proposition that large, prestigious, and well capitalised investment banks tend to price their share offerings at a higher absolute level than those not meeting such characteristics. Using classical statistical methods, the authors find that the pricing strategy of investment banks is connected to their affiliation with investment funds and unit trusts. The motives for such pricing strategies, the authors argue, lie with the affiliation of investment banks with investment funds, suggesting that the pricing of new share offerings may be a means of excluding retail investors from participating in the strong returns such issues exhibit. The authors raise legal and regulatory implications of their findings in the context of the general consolidation observed within the investment banking industry. This revised version was published online in July 2006 with corrections to the Cover Date.     

A Cross-National Study on the Antecedents of Work–Life Balance from the Fit and Balance Perspective

Drawing on the perceived work–family fit and balance perspective, this study investigates demands and resources as antecedents of work–life balance (WLB) across four countries (New Zealand, France, Italy and Spain), so as to provide empirical cross-national evidence. Using structural equation modelling analysis on a sample of 870 full time employees, we found that work demands, hours worked and family demands were negatively related to WLB, while job autonomy and supervisor support were positively related to WLB. We also found evidence that resources (job autonomy and supervisor support) moderated the relationships between demands and work–life balance, with high resources consistently buffering any detrimental influence of demands on WLB. Furthermore, our study identified additional predictors of WLB that were unique to some national contexts. For example, in France and Italy, overtime hours worked were negatively associated with WLB, while parental status was positively associated with WLB. Overall, the implications for theory and practice are discussed.

     

An Indigenous Model of Career Satisfaction: Exploring the Role of Workplace Cultural Wellbeing

Despite career satisfaction models being well established, little is understood about the career satisfaction of indigenous employees. Using a sample of 172 Maori employees, the indigenous people of New Zealand, we tested a career satisfaction model with a cultural wellbeing factor over and above established factors of human capital, sociodemographic, individual differences and organizational sponsorship. This new measure workplace cultural wellbeing was found to significantly relate to career satisfaction, accounting for twenty-three percent of the variance over and above the established factors which highlights its importance for indigenous workers. Furthermore, due to collectivistic orientations amongst Maori, collectivism was tested as a potential moderator and found to significantly interact with workplace cultural wellbeing, showing that Maori respondents reported the greatest career satisfaction when workplace cultural wellbeing was high, irrespective of collectivism orientation. This paper offers an extended model for exploring career satisfaction of indigenous workers.     

Living Maoist gender ideology: experiences of women ex-combatants in Nepal

Studies of women’s participation in civil conflict as armed combatants have attributed diverse motivations to such participation and examined the implications of participation for women’s empowerment in the aftermath. The authors contribute to these studies through an in-depth analysis of female combatants’ struggles for equality and empowerment during and after Nepal’s decade-long Maoist conflict. Scholars have argued that the emphasis of Maoist ideology in Nepal on the emancipation of women and on ending gender discrimination attracted a large number of women to the cause. Based on narratives of Maoist female ex-combatants, the authors investigate women’s engagement with Maoist ideology during and after the conflict. These narratives reveal that despite discourses of gender equality in Nepal’s Maoist struggle, promises around gender equality remain unkept in the period after the war. A reintegration program has offered women ex-combatants few options and has pushed women back into traditional gender roles. Struggles continue in this terrain. Incorporating intersectionality, the paper highlights how women ex-combatants’ gender identities intersect with caste and other social locations to produce diverse challenges for their lives.     

“Moroccan youngsters”: category politics in the Netherlands

The article analyses the categorization of “Moroccan youngsters” as a problem group in the Netherlands. Since the 1990s Dutch‐Moroccan boys and young men are set apart as a problematic group that presents a social and security threat and an emblem of the failure of multicultural society. We analyse the intersectional “category politics” of Dutch politicians to situate Moroccan‐Dutch youngsters as problematic outsiders. Our analysis makes clear how national origin, culture, class and gender intersect in the categorization of “Moroccan youngsters” constituting a national‐cultural category, which is also defined in terms of a disadvantaged socio‐economic position. This categorization has important implications for policy arrangements and proposed measures. Existing schooling and training measures are seen as inadequate to end incessant intergenerational patterns of dependence and poverty. Intervention in the sphere of the family and parenting are deemed necessary to transform “Moroccan youngsters” into “good citizens.”     

Crossover of distress due to work and family demands in dual-earner couples: A dyadic analysis

Abstract

Distress resulting from work and family overload is likely to be interdependent between partners, as both men and women increasingly participate in work and family tasks. We attempted to explain distress of both partners by looking at their work and family demands and the resulting time and energy deficits experienced by each partner. Furthermore, we investigated how time deficit, energy deficit and distress due to such demands crossover between partners. The study, which used a precise measurement of family demands, was based on a sample of both partners from 828 dual-earner couples in The Netherlands. The results showed that for both partners work and family demands increase time deficit and energy deficit. Energy deficit due to heavy demands resulted in more feelings of distress, whereas time deficit did not contribute significantly to distress. We found different patterns of crossover between male and female partners. Feelings of time deficit and energy deficit crossed over from the man to the woman, whereas feelings of distress crossed over from the woman to the man. These results indicate that the demands on each partner contribute to their own distress, as well as to their partner's distress, either through the crossover of energy deficit or through the crossover of distress     

Collectivism, Cultural Identity and Employee Mental Health: A Study of New Zealand Māori

Māori are a collectivistic people living within a largely individualistic country. The present study tested whether Māori who practice higher levels of workplace collectivism feel greater alignment with their overall cultural beliefs, and report better mental health results because of their lower levels of anxiety and depression. Three hundred and thirty-six Māori employees were surveyed, and a regression analysis showed significant direct effects, with collectivism accounting for a sizable 20 % of the variance in both anxiety and depression. Two moderators relating to cultural knowledge and cultural language were also tested. Significant two-way interactions were found: high collectivism and high cultural knowledge led to low depression, and high cultural knowledge and high cultural language skills led to low depression and anxiety. A three-way interaction was found between anxiety, collectivism and cultural knowledge and/or language: low anxiety was reported by respondents with high collectivism and either high cultural knowledge or cultural language. Overall, the study highlights the importance of collectivism and cultural identity for Māori employees’ mental health.     

BETWEEN BROADCASTING POLITICAL MESSAGES AND INTERACTING WITH VOTERS

Politicians across Western democracies are increasingly adopting and experimenting with Twitter, particularly during election time. The purpose of this article is to investigate how candidates are using it during an election campaign. The aim is to create a typology of the various ways in which candidates behaved on Twitter. Our research, which included a content analysis of tweets (n?=?26,282) from all twittering Conservative, Labour and Liberal Democrat candidates (n?=?416) during the 2010 UK General Election campaign, focused on four aspects of tweets: type, interaction, function and topic. By examining candidates' twittering behaviour, the authors show that British politicians mainly used Twitter as a unidirectional form of communication. However, there were a group of candidates who used it to interact with voters by, for example, mobilizing, helping and consulting them, thus tapping into the potential Twitter offers for facilitating a closer relationship with citizens.