The role of pension knowledge in voluntary pension and banking savings in Chile

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
David Diaz ◽  
José L. Ruiz ◽  
Pablo Tapia
Keyword(s):  
Social Protection ◽  
Pension System ◽  
Clustering Algorithms ◽  
Precautionary Savings ◽  
Probit Regression ◽  
Content Type ◽  
Positive Effects ◽  
Financial Decision ◽  
Time Planning ◽  
Pension Benefits

PurposeIn an era of increasing financial vulnerability, people are not saving enough to either fund their future pension benefits or having precautionary savings. The authors propose that pension knowledge makes people increase their probability of having voluntary pension and banking savings.Design/methodology/approachThe authors use the social protection survey in Chile, a unique set of panel data for affiliates in 2006 and 2009. First, the authors use clustering algorithms to find naturally occurring groupings in the level of pension knowledge. Second, the authors run a probit regression model for explaining the probability of having a voluntary pension and banking savings, using as determinants the level of pension knowledge and several control variables that are usually explored in the literature.FindingsThe authors find two clusters of pension knowledge in the Chilean pension system. In addition, the authors find that there is a positive correlation between high pension knowledge and good financial decision-making, as these people have voluntary retirement and banking savings.Practical implicationsAs people who spend time planning accumulate more wealth, it is important to develop public policies that promote the advantages to know better about the benefits of having voluntary savings for the long-term horizon. Conscientious people are also more likely to have voluntary savings.Social implicationsPolicy programs to increase to be responsible can have positive effects on society's welfare.Originality/valueUp to the authors’ knowledge, this is the first study that connects clustering algorithms and pension knowledge.

Socioeconomic effects of pension spending: evidence from Spain

2020 ◽  
Vol 47 (5) ◽  
pp. 599-617
Author(s):  
Fernando Bermejo ◽  
Eladio Febrero ◽  
Andre Fernandes Tomon Avelino
Keyword(s):  
Peer Review ◽  
Social Protection ◽  
Pension System ◽  
Decomposition Analysis ◽  
Value Added ◽  
Total Output ◽  
Alternative View ◽  
Input Output ◽  
Structural Decomposition Analysis ◽  
Content Type

PurposeThe purpose of this study is to provide broader understanding of the significant role that the pension system has in the Spanish economy by estimating the sectoral production, employment and income sustained by pensioners' consumption.Design/methodology/approachBased on input–output tables by the World Input–Output Database and consumption data from the Household Budget Survey by the Spanish Statistical Office, a demoeconomic model is applied to quantify the direct impacts, indirect impacts from interindustry links and induced impacts from income–consumption connections over a nine-year period (2006–2014). Then, the factors driving the evolution of total output, employment and value added during such period have been examined by using structural decomposition analysis.FindingsThe growing participation of consumption by pensioner households in final demand had proven crucial during the 2008 crisis to alleviate the negative trend in production and employment derived from the collapse in consumption suffered by the rest of households.Practical implicationsDetermining the underlying factors driving changes in both employment and income during the 2008 crisis can be of interest in political decision-making on the sustainability of the Spanish pension system.Social implicationsThe results of estimating both the employment and income supported by pensioners' consumption reveal the significant stabilizing effect of the public spending on pensions, particularly during the 2008 crisis.Originality/valueThe current Spanish approach of attaining the pension system sustainability by merely reducing social protection costs ignores the adverse consequences of a lower pensioners' demand. This paper addresses an alternative view in which pension spending is not considered a burden on economic growth but rather a means of improving the level of production and employment.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-01-2019-0047

Gender differences in retirement in Chile and Uruguay

2020 ◽  
Vol 40 (7/8) ◽  
pp. 765-789
Author(s):  
Andres Biehl ◽  
Andrea Canales ◽  
Viviana Salinas ◽  
Guillermo Wormald
Keyword(s):  
Gender Differences ◽  
Life Course ◽  
Labour Market ◽  
Latin American ◽  
Social Protection ◽  
Elderly Women ◽  
Pension System ◽  
Family Resources ◽  
Content Type ◽  
Latin American Countries

PurposeThis study compares retirement in Chile and Uruguay, and focuses on current individuals legally entitled to retire, particularly women. The article analyses how labour market and family resources shape the access of women and men to social insurance by investigating the likelihood of retirement after reaching the legal age of retirement.Design/methodology/approachThis study uses the Longitudinal Social Protection Survey (LSPS), a biannual or triennial longitudinal survey carried out in six Latin American countries. To study gender differences in the chance of being retired, the study conducts a series of logit regression models to model retirement as a function of labour market and life course conditions as well as providing descriptive and contextual information.FindingsMain findings support labour market explanations of gender differences in retirement. Work experience, human capital and contribution densities largely explain the chances of retirement and economic autonomy among elderly women. Further analysis reveal that they are both less likely than men to retire but also to work in old age, limiting their economic autonomy.Research limitations/implicationsData for Uruguay are recent. To maximize comparison between countries, the paper selects the more recent waves with complete administrative information. As a result, the article uses cross-sectional data that might not capture the accumulation of family resources and could fail to provide a complete gendered life course explanation of current disadvantages faced by women.Originality/valueThe article uses novel data in order to place two Latin American countries within mainstream sociological theories of retirement, thus complementing literature that mainly focuses on European and North-American societies. The paper also documents gender gaps in retirement in two different Latin American societies, one with a traditionally generous public pension system (Uruguay) and one with a largely privately-run contributory system (Chile).

Costa Rica’s pension system faces crisis

2017 ◽  
Keyword(s):  
Latin America ◽  
Costa Rica ◽  
Foreign Investment ◽  
Pension System ◽  
Social Security Systems ◽  
Security Systems ◽  
Content Type ◽  
The Past ◽  
The University ◽  
Pension Benefits

Subject Pension pressures in Costa Rica. Significance During the second half of the 20th century, Costa Rica consolidated one of the most successful social security systems in Latin America. The Caja Costarricense del Seguro Social (CCSS) provided generous health and pension benefits to a majority of the population. However, in the past two decades, the system has faced major funding challenges. In the case of pensions, an actuarial report published in December by the University of Costa Rica has argued that the system is unsustainable. Impacts Opposition obstructionism will hinder any efforts the Solis administration to alleviate the problems of the pension system. Increased pension obligations for employers could harm efforts to attract foreign investment to the country. Increased migration from poorer neighbours will exacerbate the socioeconomic challenges already facing relatively well-developed Costa Rica.

scholarly journals Explaining the informal economy in Western Europe: beyond a rational economic actor perspective

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Colin Williams ◽  
Gamze Oz-Yalaman
Keyword(s):  
Informal Economy ◽  
Western Europe ◽  
Alternative Theory ◽  
Probit Regression ◽  
Content Type ◽  
Social Actors ◽  
The United Kingdom ◽  
Economic Actor ◽  
Expected Benefits ◽  
Practical Implications

PurposeThe dominant theorisation of the informal economy views participants as rational economic actors operating in the informal economy when the expected benefits exceed the perceived costs of being caught and punished. Recently, an alternative theory has emerged which views participants as social actors operating in the informal economy due to their lack of vertical trust (in governments) and horizontal trust (in others). The aim of this paper is to evaluate these competing theorisations.Design/methodology/approachTo do so, data are reported from special Eurobarometer surveys conducted in 2007, 2013 and 2019 in eight West European countries (Austria, Belgium, France, Germany, Ireland, Luxembourg, the Netherlands and the United Kingdom).FindingsUsing probit regression analysis, the finding is that increasing the expected likelihood of being caught and level of punishment had a weak significant impact on the likelihood of participating in the informal economy in 2007, and there was no significant impact in 2013 and 2019. However, greater vertical and horizontal trust is significantly associated with a lower level of participation in the informal economy in all three time periods.Practical implicationsThe outcome is a call for a policy to shift away from increasing the expected level of punishment and likelihood of being caught, and towards improving vertical and horizontal trust. How this can be achieved is explored.Originality/valueEvidence is provided in a Western European context to support a shift away from a rational economic actor to a social actor approach when explaining and tackling the informal economy.

scholarly journals In VitroActivity of Glucosinolates and Their Degradation Products against Brassica-Pathogenic Bacteria and Fungi

2014 ◽  
Vol 81 (1) ◽  
pp. 432-440 ◽  
Author(s):  
T. Sotelo ◽  
M. Lema ◽  
P. Soengas ◽  
M. E. Cartea ◽  
P. Velasco
Keyword(s):  
Pseudomonas Syringae ◽  
Xanthomonas Campestris ◽  
Pathogenic Bacteria ◽  
Degradation Products ◽  
Allyl Isothiocyanate ◽  
Leaf Extracts ◽  
Soil Pathogens ◽  
Content Type ◽  
Positive Effects

ABSTRACTGlucosinolates (GSLs) are secondary metabolites found inBrassicavegetables that confer on them resistance against pests and diseases. Both GSLs and glucosinolate hydrolysis products (GHPs) have shown positive effects in reducing soil pathogens. Information about theirin vitrobiocide effects is scarce, but previous studies have shown sinigrin GSLs and their associated allyl isothiocyanate (AITC) to be soil biocides. The objective of this work was to evaluate the biocide effects of 17 GSLs and GHPs and of leaf methanolic extracts of different GSL-enrichedBrassicacrops on suppressingin vitrogrowth of two bacterial (Xanthomonas campestrispv. campestris andPseudomonas syringaepv. maculicola) and two fungal (AlternariabrassicaeandSclerotiniascletoriorum)Brassicapathogens. GSLs, GHPs, and methanolic leaf extracts inhibited the development of the pathogens tested compared to the control, and the effect was dose dependent. Furthermore, the biocide effects of the different compounds studied were dependent on the species and race of the pathogen. These results indicate that GSLs and their GHPs, as well as extracts of differentBrassicaspecies, have potential to inhibit pathogen growth and offer new opportunities to study the use ofBrassicacrops in biofumigation for the control of multiple diseases.

The role of organizational culture in the knowledge management process

2015 ◽  
Vol 19 (3) ◽  
pp. 433-455 ◽  
Author(s):  
Christina Ling-hsing Chang ◽  
Tung-Ching Lin
Keyword(s):  
Organizational Culture ◽  
Knowledge Management ◽  
Customer Service ◽  
Survey Methodology ◽  
Cultural Dimensions ◽  
Content Type ◽  
Knowledge Resources ◽  
Positive Effects ◽  
Wide Range ◽  
The Individual

Purpose – The purpose of the study is to focus on the enhancement of knowledge management (KM) performance and the relationship between organizational culture and KM process intention of individuals because of the diversity of organizational cultures (which include results-oriented, tightly controlled, job-oriented, closed system and professional-oriented cultures). Knowledge is a primary resource in organizations. If firms are able to effectively manage their knowledge resources, then a wide range of benefits can be reaped such as improved corporate efficiency, effectiveness, innovation and customer service. Design/methodology/approach – The survey methodology, which has the ability to enhance generalization of results (Dooley, 2001), was used to collect the data utilized in the testing of the research hypotheses. Findings – Results- and job-oriented cultures have positive effects on employee intention in the KM process (creation, storage, transfer and application), whereas a tightly controlled culture has negative effects. Research limitations/implications – However, it would have been better to use a longitudinal study to collect useful long-term data to understand how the KM process would be influenced when organizational culture dimensions are changed through/by management. This is the first limitation of this study. According to Mason and Pauleen (2003), KM culture is a powerful predictor of individual knowledge-sharing behavior, which is not included in this study. Thus, this is the second limitation of this paper. Moreover, national culture could be an important issue in the KM process (Jacks et al., 2012), which is the third limitation of this paper for not comprising it. Practical implications – In researchers’ point of view, results- and job-oriented cultures have positive effects, whereas a tightly controlled culture has a negative effect on the KM process intention of the individual. These findings provide evidences that challenge the perspective of Kayworth and Leidner (2003) on this issue. As for practitioners, management has a direction to modify their organizational culture to improve the performance of KM process. Social implications – Both behavioral and value perspectives of the organizational cultural dimensions (results-oriented, tightly control, job-oriented, sociability, solidarity, need for achievement and democracy) should be examined to ascertain their effects firstly on KM culture and then on the KM process intention of the individual. It is hoped that the current study will spawn future investigations that lead to the development of an integrated model which includes organizational culture, KM culture and the KM process intention of the individual. Originality/value – The results-oriented, loosely controlled and job-oriented cultures will improve the effectiveness of the KM process and will also increase employees’ satisfaction and willingness to stay with the organization.

Examining the pull, the push, and their simultaneous effects on managerial turnover

2020 ◽  
Vol 58 (12) ◽  
pp. 2639-2654 ◽  
Author(s):  
Yoonhee Choi ◽  
Namgyoo K. Park
Keyword(s):  
Top Management Team ◽  
The United States ◽  
Management Team ◽  
Top Management ◽  
Content Type ◽  
Economic Mechanism ◽  
Positive Effects ◽  
Psychological Mechanisms ◽  
Managerial Turnover ◽  
Psychological Mechanism

PurposeThis paper aims to examine the economic and psychological mechanisms in turnover at the managerial level. The paper investigates how (1) the ease of moving posed by alternative jobs (i.e. the economic mechanism) and (2) the desire to move due to low job satisfaction (i.e. the psychological mechanism) simultaneously influence top management team (TMT) turnover and these managers' subsequent job position and pay.Design/methodology/approachUsing 25 years of panel data on more than 2,000 top managers in the United States, the paper utilizes fixed-effects logistic regressions and the ordinary least squares model to test the hypotheses.FindingsThe authors find that CEO awards (an economic mechanism) and low compensation (a psychological mechanism) independently have positive effects on turnover. Turnover due to the economic mechanism leads to a higher position and pay, whereas turnover due to the psychological mechanism does not guarantee the same outcome. Further, when examining how pay dissatisfaction influences turnover simultaneously with CEO awards, the authors find that managers with the highest pay leave their firm, and not those with the lowest pay.Originality/valueThe paper employs the pull-and-push theory in the employee turnover literature and applies it to the top management team literature. By doing so, this paper contributes original insights to how economic and psychological mechanisms simultaneously affect managerial turnover and its subsequent outcomes.

Values and career behaviours of entrepreneurs and employees

2019 ◽  
Vol 26 (7) ◽  
pp. 1607-1625
Author(s):  
Anita Gaile ◽  
Ilona Baumane-Vitolina ◽  
Erika Sumilo ◽  
Daina Skiltere ◽  
Ricardo Martin Flores
Keyword(s):  
Career Success ◽  
Structural Equation ◽  
Positive Impact ◽  
Career Adaptability ◽  
Individual Values ◽  
Content Type ◽  
Positive Effects ◽  
Entrepreneurial Behaviour ◽  
Culture Development ◽  
Individual Value

Purpose The purpose of this paper is to determine the differences in the values and behaviours of employees and entrepreneurs and to develop guidelines for employers to foster entrepreneurial thinking in their organisations. Design/methodology/approach To determine individual behaviours, the authors used the career adaptability scale developed by Savickas and Porfelli (2012), complemented with the statements regarding relationships in the workplace and reward, designed by Gattiker and Larwood (1986). The individual values were evaluated by Schwartz’s individual value framework. The career success of individuals was defined by income level and job satisfaction. Data from a sample of 473 respondents were analysed using structural equation modelling. Findings This paper reveals that there are differences in the behaviours and the values of employees and entrepreneurs. Employees are more concerned with relationships at the workplace, rewards and confidence, whereas entrepreneurs focus solely on relationships. Self-direction value has a direct positive impact. Universalism, conformism, achievement, stimulation and safety have indirect positive effects on career success for employees. There is no specific individual value driving career success for entrepreneurs. Originality/value This paper follows the recent trends in organisational culture development whereby organisations seek to incorporate the entrepreneurial mindset at all levels of the organisation. Until now, there has been scarce empirical evidence on the differences between entrepreneurial and employee values. This research provides evidence that the value gap between these two distinct groups is considerable enough to question the ability of the average employee to adopt the entrepreneurial behaviour required by modern organisations.

SMEs strategic networks and innovative performance: a relational design and methodology for knowledge sharing

2020 ◽  
Vol 24 (6) ◽  
pp. 1369-1392 ◽  
Author(s):  
Elena-Mădălina Vătămănescu ◽  
Juan-Gabriel Cegarra-Navarro ◽  
Andreia Gabriela Andrei ◽  
Violeta-Mihaela Dincă ◽  
Vlad-Andrei Alexandru
Keyword(s):  
Knowledge Sharing ◽  
Structural Equation ◽  
Structural Model ◽  
Resource Scarcity ◽  
Content Type ◽  
Strategic Networks ◽  
Innovative Performance ◽  
Positive Effects ◽  
Model Combining ◽  
Fierce Competition

Purpose In the context of resource scarcity, the affiliation of small and medium-sized enterprises (SMEs) to strategic networks has emerged as a fruitful path towards knowledge sharing as a reaction to fierce competition and with a view to enhance their innovative performance. In this framework, this paper aims to investigate the influence exerted by a specific relational design (i.e. types of strategic networks) and methodology (i.e. channels and content) of knowledge sharing on SMEs innovative performance. Design/methodology/approach A questionnaire-based survey with 102 top managers of European SMEs in the industrial field was conducted from June to August 2019 and a partial least squares structural equation modelling technique was used. The database was initially filtered to ensure the adequacy of the sample and data was analysed using the statistics software package SmartPLS 3.0. Findings The results concluded that the structural model explains 38.5% of the variance in SMEs innovative performance, indicating the positive effects exerted by offline and online and by competitive knowledge sharing on the dependent variable. Research implications The study has both theoretical and practical implications in that it sets out a reference point for the key performance indicators for strategic networks structure, formation and development and, implicitly, for the selection of the most efficient relational design and methodology. Originality/value The pivotal originality elements reside in the advancement of a more comprehensive conceptual and structural model combining a two-fold operationalization of SMEs strategic networks (founded on business abilities or on the personality of the partner) and in the investigation of knowledge transfer processes at the inter-organizational levels within a context-centric approach.

Social security, income inequality and growth

2011 ◽  
Vol 11 (1) ◽  
pp. 53-70 ◽  
Author(s):  
GILLES LE GARREC
Keyword(s):  
Economic Growth ◽  
Income Inequality ◽  
Low Income ◽  
Pension System ◽  
Industrial Countries ◽  
Lifetime Income ◽  
Actuarial Fairness ◽  
Retirement Systems ◽  
Pension Benefits ◽  
Shed Light

AbstractIn most industrial countries, public pension systems redistribute from workers to retired people, not from high-income to low-income earners. They are close actuarial fairness. However, they are not all equivalent. In particular, some pension benefits are linked to full lifetime average earnings, while others are only linked to partial earnings history. In the latter case, we then show in this article that an actuarially fair pay-as-you-go pension system can both reduce lifetime income inequality and enhance economic growth. We also shed light on the dilemma between inequality and economic growth in retirement systems: greater progressivity results in less lifetime inequlity but also less growth.

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