Kind or contented? An investigation of the gift exchange hypothesis in a natural field experiment in Colombia

The gift exchange hypothesis postulates that workers reciprocate above market-clearing wages with above-minimum effort. This hypothesis has received mixed support in dyadic employer-worker relationships. We present a field-experimental test to assess this hypothesis in the context of a triadic relationship in which only one out of two workers receives a pay increase. We conjecture that inequality aversion motivations may thwart positive reciprocity motivations and analyze the interaction between such motivations theoretically. Across three treatments, the pay increase is justified to workers based on either relative merit or relative need or was arbitrary as no justification was offered. Two conditions in which either one or both workers receive a bonus serve as the reference. In contrast to the gift exchange hypothesis, we find that pay increases lead to a decrease in productivity. Such a decrease is most sizable in the condition where both workers receive the bonus. A post-diction of this result is that workers interpret the monetary bonus as a signal of the employer’s contentment with their effort, which makes them feel entitled to reduce their effort. In other treatments, receiving the pay increase while the coworker does not has a positive effect on productivity, especially when the pay increase is based on merit. This result is consistent with statusseekingpreferences rather than aversion against advantageous inequality. Conversely, not receiving the pay increase while the coworker does, leads to lower productivity, especially when the pay increase is assigned based on relative needs.

Determinants of Corporate Social Responsibility Disclosure: Empirical Evidence from Indonesia Stock Exchange

This study aims to examine the relationship between consumer proximity, environmental performance, profitability, and media exposure on corporate social responsibility disclosure. This study used data from companies listed in Indonesia Stock Exchange (IDX) 2017-2019. A purposive sampling method was used in this study with 60 samples on the Indonesia Stock Exchange. Hypothesis testing in this study using multiple linear regression with SPSS. The results show that consumer proximity has a positive effect on corporate social responsibility disclosure. Meanwhile, environmental performance, profitability, media exposure does not affect corporate social responsibility disclosure. The implication of this study is for the companies to increase social responsibility to the stakeholders and community due to the positive reciprocal relationship.

INFLUENCE ANALYSIS OF BI RATE, INFLATION AND IHSG ON STOCK RETURN OF BANKING SECTOR LISTED ON INDONESIAN STOCK

This research aims to prove if there is any effect from the change of BI Rate, inflation, and IHSG to the return of banking sector listed in Indonesian Stock Exchange. Hypothesis is tested using multiple regression linear with monthly observation period during year 2007 – 2011 towards 12 banking stock return which are listed in Indonesia Stock Exchange. This research provides empirical evidence that simultaneously BI Rate, inflation and IHSG have effect on 9 stock return of banking sector, whereas partially tested IHSG has the most significant effect on stock return on banking companies compared with BI rate and inflation.

Australian songbird body size tracks climate variation: 82 species over 50 years

The observed variation in the body size responses of endotherms to climate change may be explained by two hypotheses: the size increases with climate variability ( the starvation resistance hypothesis ) and the size shrinks as mean temperatures rise ( the heat exchange hypothesis ). Across 82 Australian passerine species over 50 years, shrinking was associated with annual mean temperature rise exceeding 0.012°C driven by rising winter temperatures for arid and temperate zone species. We propose the warming winters hypothesis to explain this response. However, where average summer temperatures exceeded 34°C, species experiencing annual rise over 0.0116°C tended towards increasing size. Results suggest a broad-scale physiological response to changing climate, with size trends probably reflecting the relative strength of selection pressures across a climatic regime. Critically, a given amount of temperature change will have varying effects on phenotype depending on the season in which it occurs, masking the generality of size patterns associated with temperature change. Rather than phenotypic plasticity, and assuming body size is heritable, results suggest selective loss or gain of particular phenotypes could generate evolutionary change but may be difficult to detect with current warming rates.

Analisis Determinan Penghindaran Pajak Pada Perusahaan Publik yang Dikontrol Keluarga

This study aims to explore the determination of tax avoidance in family-controlled public companies. The research sample was 336 firm years of public companies listed on the Indonesia Stock Exchange. Hypothesis testing uses a multivariate regression analysis. This study found that tax avoidance is influenced by the characteristics of the company and corporate governance mechanisms. We prove that leverage has a negative effect on tax avoidance, company size does not significantly influence tax avoidance, pretax return on asset and the level of financial distress have a positive effect on tax avoidance. This study also found that auditor quality has a negative effect on tax avoidance, while management compensation has a positive effect. However, this study cannot prove the effect of the effectiveness of the independent board on tax avoidance.

POP award 2019 submissions

This study applies the status exchange theory to white-Latino intermarriage and explores how the strength of status exchange differs by Latino nativity. The status exchange hypothesis theorizes that couples of unequal social standing engage in an exchange of characteristics, thus suggesting that there are certain obstacles individuals of lower status may face to interact with individuals of higher status. This theory highlights a possible mechanism that drives intermarriage and indicates the height of barriers that different groups encounter when intermarrying. Analyzing differences by nativity provides a greater understanding of the trajectory of Latinos’ integration in the U.S. This study uses years 2008-2015 of the American Community Survey and log-linear models for contingency tables. The best fitting models show evidence of status exchange among marriages between foreign-born Hispanics and native-born whites. Among native-born Hispanics, Hispanic wives seem to engage in status exchange with native-born whites. These results suggest that both foreign-born and native-born Hispanics face similar barriers as blacks when interacting with whites. More broadly, there is evidence for a white-nonwhite racial divide within the U.S.

Peran Dewan Komisaris, Komite Audit, Struktur Kepemilikan Perusahaan dan Perataan Laba Perusahaan Manufaktur

ABSTRACT This study aims to examine and analyze empirically the influence of the role of the board of commissioners, and audit committee, corporate ownership structure on income smoothing practices using the Eckel index, the influence of the role of the board of commissioners and audit committee is measured using the checklist score based on the characteristics of independence, activity, number of members and competence. The ownership structure is measured by the percentage of ownership. Control variables are entered into the model to neutralize the influence of unnecessary external variables. The sample is 135 manufacturing firm years listed in the Indonesia Stock Exchange. Hypothesis testing is done by logistic regression test. The test results show that the audit committee has a higher probability of practicing income smoothing, while the board of commissioners and ownership structure do not affect the income smoothing practice. ABSTRAK Penelitian ini bertujuan untuk menguji dan menganalisis secara empiris pengaruh peran dewan komisaris, dan komite audit, struktur kepemilikan perusahaan terhadap praktik perataan laba dengan menggunakan indeks Eckel, pengaruh peran dewan komisaris dan komite audit diukur mengunakan score checklist berdasarkan karakteristik independensi, aktivitas, jumlah anggota dan kompetensi, sedangkan struktur kepemilikan diukur dengan persentasi jumlah kepemilikannya dengan menggunakan variabel kontrol untuk menetralisir pengaruh variabel-variabel luar yang tidak perlu. Sampel adalah 135 data tahun perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Pengujian dilakukan dengan uji regresi logistik. Hasil pengujian menunjukkan bahwa komite audit memiliki probabilitas lebih tinggi untuk melakukan praktik perataan laba, sedangkan dewan komisaris dan struktur kepemilikan tidak berpengaruh terhadap praktik perataan laba. JEL Classification: M40, G30

Peran Dewan Komisaris, Komite Audit, Struktur Kepemilikan Perusahaan dan Perataan Laba Perusahaan Manufaktur

ABSTRACT This study aims to examine and analyze empirically the influence of the role of the board of commissioners, and audit committee, corporate ownership structure on income smoothing practices using the Eckel index, the influence of the role of the board of commissioners and audit committee is measured using the checklist score based on the characteristics of independence, activity, number of members and competence. The ownership structure is measured by the percentage of ownership. Control variables are entered into the model to neutralize the influence of unnecessary external variables. The sample is 135 manufacturing firm years listed in the Indonesia Stock Exchange. Hypothesis testing is done by logistic regression test. The test results show that the audit committee has a higher probability of practicing income smoothing, while the board of commissioners and ownership structure do not affect the income smoothing practice. ABSTRAK Penelitian ini bertujuan untuk menguji dan menganalisis secara empiris pengaruh peran dewan komisaris, dan komite audit, struktur kepemilikan perusahaan terhadap praktik perataan laba dengan menggunakan indeks Eckel, pengaruh peran dewan komisaris dan komite audit diukur mengunakan score checklist berdasarkan karakteristik independensi, aktivitas, jumlah anggota dan kompetensi, sedangkan struktur kepemilikan diukur dengan persentasi jumlah kepemilikannya dengan menggunakan variabel kontrol untuk menetralisir pengaruh variabel-variabel luar yang tidak perlu. Sampel adalah 135 data tahun perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Pengujian dilakukan dengan uji regresi logistik. Hasil pengujian menunjukkan bahwa komite audit memiliki probabilitas lebih tinggi untuk melakukan praktik perataan laba, sedangkan dewan komisaris dan struktur kepemilikan tidak berpengaruh terhadap praktik perataan laba. JEL Classification: M40, G30

BLACK–WHITE MARITAL MATCHING: RACE, ANTHROPOMETRICS, AND SOCIOECONOMICS

We analyze the interaction of black–white race with physical and socioeconomic characteristics in the US marriage market, using data from the Panel Study of Income Dynamics. We estimatewho inter-racially marries whomalong anthropometric and socioeconomic characteristics dimensions. The black women who inter-marry are the thinner and more educated in their group; instead, white women are the fatter and less educated; black or white men who inter-marry are poorer and thinner. While women in “mixed” couples find a spouse who is poorer but thinner than if they intra-married, black men match with a white woman who is more educated than if they intra-married, and a white man finds a thinner spouse in a black woman. Our general findings are consistent with the “social status exchange” hypothesis, but the finding that black men who marry white women tend to be poorer than black men who marry black women isnot.