Were the US workers in “essential” sectors well paid?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yi-Pey Ou ◽  
Yun-Peng Chu
Keyword(s):  
Retail Trade ◽  
Original Research ◽  
Relative Importance ◽  
Content Type ◽  
Administrative Procedure ◽  
Us Economy ◽  
Linkage Effect ◽  
The Us ◽  
The Usa ◽  
Forward Linkage

PurposeWhen the coronavirus disease 2019 (COVID-19) pandemic seriously hit the USA, a lot of cities/states announced their lockdowns, in some cases forbidding employees to go to work. But workers in the so called “essential sectors” were exempt from the order, and on the contrary were required to remain on the job in order to maintain the services and functions considered vital to the community. If they have not been paid well in comparison to those in the other sectors, there would be a stronger case for granting them a special hazard pay during the pandemic. This paper aims to design a way to measure the “importance” or being “essential” of the different sectors in the economy, and then investigates whether the actual pay of the workers in these sectors is consistent with the measured importance.Design/methodology/approachAt least two policy issues emerged from such an arrangement: (1) How can one define the “essential sectors” objectively instead of the authorities preparing a list according to their administrative procedure? (2) How well have been the workers in the essential sectors paid before the pandemic strike? The concept of a revised Leontief forward linkage effect will be used in an input–output model to gauge the relative “importance” of the different sectors in the US economy. Then the measured importance will be compared with the average compensation of the employees in these sectors.FindingsIt is found that for some sectors such as agriculture, retail trade, and repair and installation of machinery and equipment the ratio of workers' compensation relative to the national average is substantially lower than the relative importance of the sectors employing them. That is, many of them have been substantially underpaid in spite of their importance.Research limitations/implicationsThe scope of this study is limited to one country, the USA, but the methodology can be applied to other countries as well.Originality/valueThis study is an original research that contributes to an improved understanding of the importance of the workers engaged in different sectors in the USA during COVID-19.

Macroeconomic conditions are only an illusion, not the solution, to firm sustainability: unveiling the new dimension of stakeholder well-being

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Zahid Irshad Younas ◽  
Mahvesh Khan ◽  
Mamdouh Abdulaziz Saleh Al-Faryan
Keyword(s):  
Well Being ◽  
Developed Countries ◽  
Macroeconomic Performance ◽  
Content Type ◽  
Macroeconomic Conditions ◽  
Us Economy ◽  
The Us ◽  
The Usa ◽  
Negative Impacts ◽  
The One

Purpose The purpose of the study is to explore the misconception that in developed countries, macroeconomic performance lead to sustainable firms or improves stakeholder well-being. The results may be the opposite or even worse. Design/methodology/approach This study examined this misconception using balanced panel data from 1,122 firms from different sectors of the US economy and data on macroeconomic performance from the World Bank. Findings The results of the one-step generalised method of moments indicate that most macroeconomic performance indicators had significant and negative impacts on firm sustainability and stakeholder well-being. Practical implications From a societal perspective, the results illustrate that the fruits of macroeconomic performance of the US economy do not reach stakeholders through firms’ sustainability. Thus, linking the economy’s macroeconomic performance with firm sustainability is vital for sustainably uplifting society and for stakeholder well-being. Originality/value From a policy perspective, this study reveals that the greater focus on macroeconomic performance in the USA over the past decades has resulted in lower firm sustainability because of the malfunctioning of social, economic, environmental and governance factors. This has negatively influenced stakeholder well-being in the country.

scholarly journals Sector size, technical change and stability in the USA (1957-2006): a Schumpeterian approach

2014 ◽  
Vol 41 (10) ◽  
pp. 956-974 ◽  
Author(s):  
Konstantinos Konstantakis ◽  
Panayotis G. Michaelides ◽  
Theofanis Papageorgiou
Keyword(s):  
Panel Data ◽  
Technological Change ◽  
Economic Activity ◽  
Economic Recession ◽  
Data Set ◽  
Content Type ◽  
Us Economy ◽  
Data Framework ◽  
The Us ◽  
The Usa

Purpose – The purpose of this paper is to investigate two famous postulates of the Schumpeterian doctrine and its implications for the US economy. Design/methodology/approach – Analytically, the authors investigate whether sector size matters for sectoral: technological change and stability, as expressed through the relevant quantitative measures and variables. To this end, the authors test a number of relevant models that express the various forms of this relationship. More precisely, the authors use panel data for the 14 main sectors of economic activity in the USA over the period 1957-2006, just before the first signs of the US and global recession made their appearance. Findings – The results seem to be in line with the Schumpeterian postulate that market size matters for technological change and economic stability, for the US economy (1957-2006). Clearly, further research would be of great interest. Originality/value – This work contributes to the literature in the following ways: first, it provides an extensive review of the literature on the subject and adopts two relevant methodological approaches. Second, based on these quantitative approaches, the paper offers a complete investigation of two famous postulates of the Schumpeterian theory for the US economy, and it is the first, to the best of the authors’ knowledge, to do so by sector of economic activity, in a panel data framework. Third, the paper uses a wide data set (1957-2006) to examine the US economy up until the first signs of the US and global economic recession made their appearance.

A comparative study on industrial spillover effects among Korea, China, the USA, Germany and Japan

2019 ◽  
Vol 119 (3) ◽  
pp. 454-472 ◽  
Author(s):  
Yong-Ki Min ◽  
Sang-Gun Lee ◽  
Yaichi Aoshima
Keyword(s):  
Manufacturing Industry ◽  
Industrial Revolution ◽  
Spillover Effects ◽  
Developed Countries ◽  
Content Type ◽  
Linkage Effect ◽  
The Usa ◽  
Forward Linkage ◽  
Ict Industry ◽  
Linkage Effects

Purpose Starting from industry 4.0 in Germany and followed by the New Strategy for American Innovation in the USA and the smartization strategy in Japan, developed countries are pushing nation-wide innovation strategies. Similarly, China is pursuing the Made in China 2025, and Korea announced the Manufacturing Industry Innovation 3.0 strategy. However, few researchers have identified the industrial structure that establishes the foundation of the 4th Industrial Revolution or have derived strengths and weaknesses to provide implications on policy formulation through quantitative comparison with developed countries. Therefore, the purpose of this paper is to analyze the spillover effect of the information and communication technology (ICT) industry (the foundation of the 4th Industrial Revolution) and machinery·equipment industry (the foundation of smart manufacturing through convergence with ICT industry). Design/methodology/approach This study examines the industrial spillover effects of the ICT industry and machinery·equipment industry in the USA, Germany, Japan, China and Korea by using the World Input–Output Table from 2000 to 2014. Findings The results showed that backward linkage effect of the ICT Industry are high in the order of Korea≑China>Japan>the USA≑Germany, and forward linkage effect of the ICT industry are high in the order of Japan ≑> the USA≑Korea ≑> China ≑> Germany. Backward linkage effects of the machinery·equipment industry are high in the order of China>Japan≑Korea>the USA>Germany, and forward linkage effects of the machinery·equipment industry are high in the order of China>Korea>Germany≑Japan≑the USA. Practical implications China and Korea encourage active government investment in ICT and machinery·equipment industries, especially the intentional convergence between ICT and machinery·equipment industries is expected be generate higher synergy. The “innovation in manufacturing” strategy in the USA that utilizes its strength in ICT services seems appropriate, whereas Germany needs to revitalize the ICT industry to strengthen its manufacturing industry. Japan’s strategy is to focus its ICT capabilities on robot sector. While the scope of innovation is limited, its synergy is worth expecting. Originality/value This study attempted to provide a theoretical approach to the determination of national policy strategies and provide practical implications for response to the impacts of the 4th Industrial Revolution, by comparing the inducement effects of ICT and machinery·equipment industries between major countries.

scholarly journals Heterogeneous firm-level responses to the US 2018 tariff announcement

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yafeng Qin ◽  
Zikai Yang ◽  
Min Bai
Keyword(s):  
Hong Kong ◽  
Stock Market ◽  
Mainland China ◽  
Chinese Stock Market ◽  
Firm Level ◽  
Content Type ◽  
Us Economy ◽  
The Us ◽  
The Usa ◽  
The Impact

PurposeThis study examines the impact of the $60 billion tariff announcement of the US government on the Chinese exporting firms. In particular, it focuses on the firms whose revenues are highly dependent on the US economy.Design/methodology/approachThis study uses an experimental analysis and the event study methodology. The sample includes firms listed in mainland China and Hong Kong Stock Exchanges that have the highest revenues from exporting to the USA. The data are obtained from China Stock Market and Accounting Research (CSMAR) and DataStream.FindingsThe authors find that the tariff announcement has significantly negative impacts on stock performance both before and after the announcement, and the impacts are heterogeneous across all sample firms. For A shares listed in Mainland China, firms with more revenues from the US experience greater price drops on the announcement day, regardless of being in the targeted industry or not. But such finding is absent from H shares listed in Hong Kong. The authors also find that for all the firms, greater pricing power can alleviate the impacts of the tariff announcement.Research limitations/implicationsThe results provide implications to investors, policymakers and regulators on the further US-China cooperation in the future.Originality/valueThis is the first study documenting the heterogeneity of the impact of the tariff announcement and thus contributes to the prosperous studies on the varied firm-level responses in the Chinese stock market, and to the burgeoning literature by filling the gap of the financial market responses to the protectionist policy announcement.

Healthcare fraud under the microscope: improving its prevention

2018 ◽  
Vol 25 (4) ◽  
pp. 1039-1061 ◽  
Author(s):  
Nicole F. Stowell ◽  
Martina Schmidt ◽  
Nathan Wadlinger
Keyword(s):  
Healthcare Providers ◽  
Insurance Companies ◽  
Content Type ◽  
The Public ◽  
Us Economy ◽  
The Us ◽  
The Usa ◽  
Health Institutions ◽  
The Government ◽  
Practical Implications

Purpose The purpose of this paper is to make readers aware of the extensiveness of healthcare fraud in the USA and how it involves and affects the government, healthcare providers, insurance companies, patients and the public. In addition, recommendations are made that may help control this pervasive type of fraud. Design/methodology/approach A range of different journal publications, information from government health institutions and law enforcement websites, healthcare fraud cases and healthcare laws are used as a basis to provide information about how fraudsters are committing healthcare fraud and how to prevent this fraud from occurring. Findings Despite increased funding and prosecution efforts by the government, healthcare fraud continues to be a major threat to the US economy and public. While healthcare fraud will never be eradicated, specific efforts can be deployed to help rein in these complex fraud schemes. Practical implications The paper provides a useful resource of information on healthcare fraud for healthcare providers, insurance companies, patients and the public that may help combat healthcare fraud and prevent financial losses. Social implications Every dollar saved from combating fraud could be used to improve access to more or better health services and can, thereby, save lives. Originality/value This paper provides recommendations regarding healthcare fraud that could help prevent this large drain on the US economy.

Regulation and the international competitiveness of US-based companies

2014 ◽  
Vol 24 (5) ◽  
pp. 378-392 ◽  
Author(s):  
Steven Globerman
Keyword(s):  
Private Sector ◽  
Government Regulation ◽  
Empirical Relationship ◽  
International Competitiveness ◽  
Oecd Countries ◽  
Regulatory Environment ◽  
Content Type ◽  
Us Economy ◽  
The Us ◽  
The Usa

Purpose – The purpose of this paper is to provide and assess evidence bearing on whether government regulation in the USA is harming the international competitiveness of the US economy. A related purpose is to clarify the concept of international competitiveness from a public policy perspective. Design/methodology/approach – The paper draws on various sources comparing the regulatory environment of the USA and other Organisation for Economic Co-operation and Development (OECD) countries over the past 15-20 years, as well as the international competitiveness of those countries, particularly the productivity growth of home country firms. The various measures of regulatory quality and international competitiveness for the USA are compared to those for a sample of other OECD countries to provide empirical evidence on two broad issues: has government regulation become more onerous in the USA relative to other OECD countries? and has the USA economy become less competitive compared to other OECD countries? Findings – The evidence indicates that the US regulatory environment has become more onerous compared to other OECD countries and that the relative productivity performance of the US economy has declined in recent years. Evidence also suggests that the USA has become relatively less attractive as a location for production and research and development. While the paper does not directly link national measures of performance to measures of the regulatory environment, it provides a literature review of the empirical relationship between government regulation and private sector productivity performance. The review suggests that an apparent recent weakening of the international competitiveness of the US economy can be linked to a more onerous regulatory environment. Research limitations/implications – As noted above, the paper does not directly link in a statistical manner, data regarding the changing regulatory environment across countries to changes in measures of international competitiveness. This is the focus of future research. Originality/value – By assessing a range of measures of the regulatory environment and national economic performance, the paper provides a fairly comprehensive and nuanced assessment of frequently made claims about regulation in the USA relative to other countries, as well as the relative attractiveness of the USA as a location for private sector activity.

Asset recovery in corruption cases

2016 ◽  
Vol 19 (1) ◽  
pp. 4-20 ◽  
Author(s):  
Peter Leasure
Keyword(s):  
Vice President ◽  
Comparative Case Study ◽  
Content Type ◽  
Case Study Analysis ◽  
Asset Recovery ◽  
The Us ◽  
Quasi Experimental ◽  
The Usa ◽  
The Republic

Purpose – Asset recovery proceedings increasingly target corrupt foreign officials who acquire lavish assets as a result of capital gained through criminal acts. One extremely difficult issue arising in asset recovery proceedings is whether the capital used to acquire the assets can be traced to a criminal act. The purpose of this paper is to critique US tracing procedure through comparative analysis. Design/methodology/approach – A prominent series of cases brought by the USA and France against assets owned by Teodoro “Teodorín” Nguema Obiang, second Vice President of the Republic of Equatorial Guinea, produced mixed results on the tracing element. This paper utilizes a qualitative comparative case analysis to examine the US and French cases. Findings – The US results reflect serious weaknesses in the US law as compared to more effective French asset recovery procedure. Originality/value – Though this paper is certainly a comparative case study analysis, nearly identical facts and two different jurisdictions reaching separate conclusions bring us in the legal community as close as we can realistically come to quasi-experimental research. Comparative research in this area is severely lacking and sorely needed. The mechanisms identified in the French system clearly show flaws that are present in the US system.

Lenovo’s successful acquisition of the IBM PC Division

2016 ◽  
Vol 32 (9) ◽  
pp. 32-35
Author(s):  
Mark Thomas
Keyword(s):  
Design Methodology ◽  
Chinese Economy ◽  
High Tech ◽  
Tablet Computers ◽  
Content Type ◽  
Us Economy ◽  
The Us ◽  
Pertinent Information ◽  
Traditional Manufacturing

Purpose The purpose of this paper is to analyze Lenovo’s successful acquisition of IBM’s PC division using Ghemawat’s (2001) CAGE framework. It was an acquisition that was so full of symbols that it is difficult to know where to begin. Lenovo’s purchase of IBM in 2005 was first seen as a sign of the rapid growth and expansion of the Chinese economy and its transformation away from the traditional manufacturing base to more high-tech areas. For doomsday merchants in the land of Uncle Sam, it foretold the end of the world domination of the US economy. Despite a considerable number of skeptics at the time, Lenovo was clearly up to the task. Such was the success of the acquisition that by 2015, Lenovo could claim to have grown into the world’s number 1 PC maker, number 3 smartphone manufacturer and number 3 in the production of tablet computers. Design/methodology/approach This paper is a case study. Findings Despite a considerable number of skeptics at the time, Lenovo was clearly up to the task. Such was the success of the acquisition that by 2015, Lenovo could claim to have grown into the world’s number 1 PC maker, number 3 smartphone manufacturer and number 3 in the production of tablet computers. Indeed, by 2014, the firm had enough confidence to add the IBM server business to its portfolio. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Impacts of electronic monitoring on the community life: blessing or disguise?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Katarína Vitálišová ◽  
Kamila Borseková ◽  
Anna Vanˇová ◽  
Samuel Koróny
Keyword(s):  
Local Community ◽  
Electronic Monitoring ◽  
Slovak Republic ◽  
Secondary Data ◽  
Primary Data ◽  
Original Research ◽  
Community Life ◽  
Content Type ◽  
Depth Analysis ◽  
The Usa

Purpose The purpose of this paper is to identify and evaluate critically the impacts associated with the implementation of electronic monitoring (EM) of accused and convicted persons on society based on the foreign experience and compare these findings with the original research results on EM in the Slovak Republic. Design/methodology/approach This paper elaborates the secondary data of previous researches in Scotland, Sweden and Florida in the USA. Secondary research is based on in-depth analysis of articles, reports and studies searched via database of Google, Scopus and Science Direct. Based on the studies processed by a causal and qualitative analysis, the authors identify the benefits and risks of EM influencing community life in Europe and the USA. The additional sources of secondary data are the Statistical Yearbook of Ministry of Justice of Slovak Republic, the content of the original law (including relevant amendments) that introduced EM into the Slovak criminal justice system and data on the application of EM in Slovakia provided by the Ministry of Justice. Subsequently, this paper presents the original research findings about the EM implementation in the Slovak Republic. The primary data were conducted via interviews with the representatives of Ministry of Justice, and through the national survey of opinions of judges, probation and mediation officers. The authors used the descriptive statistics and the statistical deduction methods. Findings The key finding of the paper is that there is a very narrow border between EM as blessing and disguise for community involved. Setting proper measures to protect the community, targeted communication and support with attendance of professionals (e.g. mediator and psychologist) for community members might help to avoid possible risks and support the benefits related with EM implementation, namely, social and economic inclusion of offenders, maintaining family and community tights, reducing recidivism or protection of sensitive sites. Practical implications To support the acceptation of EM by local community, the authors recommend to perceive sensitively community involvement and consider potential risks related with EM implementation; to suggest the proper measures to protect the community; and to develop better or targeted communication oriented towards increasing awareness or establishment supporting groups with attendance of professionals (e.g. mediator and psychologist) that might help to avoid possible risks and support the benefits related with EM implementation. Originality/value This paper compares experience with EM based on the secondary data of previous researches in Scotland, Sweden and Florida in the USA. Subsequently, it presents the unique data about the implementation of EM in the Slovak Republic. The topic of EM is still vastly underrated in the literature, and there is a lack of empirical data, so this paper as a combination of case studies and original research could be very helpful in the efficient implementation of EM and setting the proper measures.

The US brewing industry, strategic windows and survival

2014 ◽  
Vol 20 (4) ◽  
pp. 434-458 ◽  
Author(s):  
Lynn A. Walter ◽  
Linda F. Edelman ◽  
Keneth J. Hatten
Keyword(s):  
Dynamic Capabilities ◽  
Survival Rates ◽  
Second Phase ◽  
Brewing Industry ◽  
Content Type ◽  
Operational Capabilities ◽  
Select Group ◽  
The Us ◽  
The Usa

Purpose – This paper aims to investigate how dynamic capabilities enabled survival in a select group of brewers, during one of the lengthiest and most severe industry consolidations in history. In doing so, we advance Abell’s (1978) theory of strategic windows through integration with the resource-based view of the firm. Design/methodology/approach – Using a mixed method approach, we first apply case study methods to develop hypotheses around the timing and level of operational capability required for survival. In the second phase, we test these hypothesized estimations on the USA Brewing population. Findings – Indicate that brewers which had advanced distribution and manufacturing operational capabilities before the strategic window of opportunity closed had higher survival rates. Practical implications – This study reinforces the importance of making timely strategic investments in capabilities. Originality/value – The integration of strategic window and capability theories advances our understanding of the roles that capabilities and time play in determining firm survival.

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