On the Scientific Status of Economic Policy: A Tale of Alternative Paradigms

In the last years, a number of contributions has argued that monetary -- and, more generally, economic -- policy is finally becoming more of a science. According to these authors, policy rules implemented by central banks are nowadays well supported by a theoretical framework (the New Neoclassical Synthesis) upon which a general consensus has emerged in the economic profession. In other words, scientific discussion on economic policy seems to be ultimately confined to either fine-tuning this "consensus" model, or assessing the extent to which "elements of art" still exist in the conduct of monetary policy. In this paper, we present a substantially opposite view, rooted in a critical discussion of the theoretical, empirical and political-economy pitfalls of the neoclassical approach to policy analysis. Our discussion indicates that we are still far from building a science of economic policy. We suggest that a more fruitful research avenue to pursue is to explore alternative theoretical paradigms, which can escape the strong theoretical requirements of neoclassical models (e.g., equilibrium, rationality, etc.). We briefly introduce one of the most successful alternative research projects -- known in the literature as agent-based computational economics (ACE) -- and we present the way it has been applied to policy analysis issues. We conclude by discussing the methodological status of ACE, as well as the (many) problems it raises.Economic Policy, Monetary Policy, New Neoclassical Synthesis, New Keynesian Models, DSGE Models, Agent-Based Computational Economics, Agent-Based Models, Post-Walrasian Macroeconomics, Evolutionary Economics.

Customer Enquiry Management in a Global Competitive Context: A Comparative Multi-Case Study Analysis

Business-to-Business (B2B) relationships, such as between a manufacturer and a customer, are increasingly important during the Customer Enquiry Management (CEM) process, particularly so for non-Make-To-Stock (non-MTS) companies operating in industrial markets. Few empirical studies have explored the CEM practices adopted by firms in practice. A study of the Italian capital goods sector by Zorzini et al. (2007) is a recent exception. Moreover, most studies have approached CEM from a cross-department integrated perspective but in the digital economy, and with globalization, outsourcing and extended supply chains, CEM needs to be approached from a broader supply chain-oriented perspective, incorporating B2B exchanges. This paper builds on the study by Zorzini et al. (2007) by conducting multi-case study research with seven UK-based companies in the capital goods sector, including three sales and support companies with offshore manufacturing. By adopting a cross-national research perspective, it assesses whether the proposed theory applies to other capital goods firms outside Italy. By also adopting a supply chain perspective of CEM it investigates current industry practice in B2B markets and explores whether cross-functional coordination and formalization issues can be extended into a global context. Evidence from the UK generally supports prior theory, confirming links between high levels of coordination, formalization of the CEM process and improved performance. Some refinements are proposed, for example, in order to make the theory suitable for a global context. The characteristics of a supply chain are important factors that affect CEM. This research has managerial implications for improving the CEM process in non-Make-To-Stock (non-MTS) capital goods companies from both an intra and an inter-organisational (B2B) perspective. Coordination with partners along the supply chain is needed at the enquiry stage and constraints linked to global customers should be considered when structuring the

Value creation through HR shared services: towards a conceptual framework

Purpose – The purpose of this paper is to derive a measure for the performance of human resource shared service providers (HR SSPs) and then to develop a theoretical framework that conceptualises their performance.\ud \ud Design/methodology/approach – This conceptual paper starts from the HR shared services argument and integrates this with the knowledge-based view of the firm and the concept of intellectual capital.\ud \ud Findings – We recommend measuring HR SSP performance as HR value, referring to the ratio between use value and exchange value, that together reflect both transactional and transformational HR value. We argue that transactional HR value directly flows from the organisational capital in HR SSPs, whereas human and social capitals enable them to leverage their organisational capital for HR value creation. We argue that the human capital of HR SSPs has a direct effect on transformational HR value creation, while their social and organisational capitals positively moderate this relationship.\ud \ud Originality/value – The suggested measure paves the way for operationalising and measuring the performance of HR shared services providers. This paper offers testable propositions for the relationships between intellectual capital and the performance of HR shared service providers. These contributions could assist future research to move beyond the descriptive nature that characterises the existing literature

System implementation: managing project and post project stage - case study in an Indonesian company

The research reported in this paper aims to get a better\ud understanding of how the implementation process of\ud enterprise systems (ES) can be managed, by studying the\ud process from an organisational perspective. A review of\ud the literature on previous research in ES implementation\ud has been carried out and the state of the art of ES\ud implementation research is defined. Using several body of\ud literature, an organisational view on ES implementation is\ud described, explaining that ES implementation involves\ud challenges from triple domain, namely technological\ud challenge, business process related challenge, and\ud organisational challenge. Based on the defined state of the\ud art and the organisational view on ES implementation\ud developed in this research, a research framework is\ud presented, addressing the project as well as the postproject\ud stage, and a number of essential issues within the\ud stages. System alignment, knowledge acquisition, change\ud mobilisation are the essntial issues to be studied in the\ud project stage while institutionalisation effort and\ud continuous improvement facilitation are to be studied in\ud the post-project stage. Case studies in Indonesian\ud companies are used to explain the framework

Innovation attributes and managers' decisions about the adoption of innovations in organizations: A meta-analytical review

The adop­tion of in­no­va­tions has emerged as a dom­i­nant re­search topic in the man­age­ment of in­no­va­tion in or­ga­ni­za­tions, al­though in­ves­ti­ga­tions of­ten yield mixed re­sults. To help man­agers and re­searchers im­prove their ef­fec­tive­ness, the au­thors em­ployed a meta-analy­sis in­te­grated with struc­tural equa­tion mod­el­ing to an­a­lyze the as­so­ci­a­tions be­tween the at­trib­utes of in­no­va­tions, man­agers' be­hav­ioral pref­er­ences, and or­ga­ni­za­tions' in­no­va­tion adop­tion de­ci­sions in a me­di­ated-mod­er­ated frame­work. Our find­ings of­fer ev­i­dence that at­trib­utes of in­no­va­tions in­flu­ence man­agers' be­hav­ioral pref­er­ences and, con­se­quently, adop­tion de­ci­sions in or­ga­ni­za­tions. We also ob­serve the sig­nif­i­cance of the con­text in which the adop­tion de­ci­sion oc­curs as well as the re­search set­tings em­ployed by schol­ars. Fi­nally, we dis­cuss the the­o­ret­i­cal con­tri­bu­tion and prac­ti­cal im­pli­ca­tions of our meta-an­a­lyt­i­cal re­sults

New Prospects for Organizational Democracy? How the Joint Pursuit of Social and Financial Goals Challenges Traditional Organizational Designs

Some interesting exceptions notwithstanding, the traditional logic of economic efficiency has long favored hierarchical forms of organization and disfavored democracy in business. What does the balance of arguments look like, however, when values besides efficient revenue production are brought into the picture? The question is not hypothetical: In recent years, an ever increasing number of corporations have developed and adopted socially responsible behaviors, thereby hybridizing aspects of corporate businesses and social organizations. We argue that the joint pursuit of financial and social objectives warrants significant rethinking of organizational democracy’s merits compared both to hierarchy and to non-democratic alternatives to hierarchy. In making this argument, we draw on an extensive literature review to document the relative lack of substantive discussion of organizational democracy since 1960. And we draw lessons from political theory, suggesting that the success of political democracy in integrating diverse values offers some grounds for asserting parallel virtues in the business case

Faculty Research in Progress, 2018-2019

The production of scholarly research continues to be one of the primary missions of the ILR School. During a typical academic year, ILR faculty members published or had accepted for publication over 25 books, edited volumes, and monographs, 170 articles and chapters in edited volumes, numerous book reviews. In addition, a large number of manuscripts were submitted for publication, presented at professional association meetings, or circulated in working paper form. Our faculty\u27s research continues to find its way into the very best industrial relations, social science and statistics journal

The Performance Implications of Fit Among Environment, Strategy, Structure, Control System and Social Performance

Purpose – The paper examined concept of corporate performance. The paper seeks to examine the impact of corporate social performance on the relationship among business environment, strategy, organization, and control system and corporate performance. Design/methodology/approach – The paper is based on a synthesis of the existing literatures in strategic management and accounting filed. Findings – The paper finds that corporate social performance defined as stakeholder relationship become one important dimension of the strategic behaviors that an organization can set to improve corporate performance. Research implication – the contextual variables as discussed in strategic management and accounting domain will be contingent upon strategic behaviors, which are behaviors of members in an organization. Originality/value – The paper integrates the contextual variables including business environment, strategy, organization structure, and control system with corporate performance by using corporate social performance as moderating variable by means of a recent literatures study from strategic management and accounting field. Keywords Contextual variable, strategic behavior, corporate social performance, corporate performanc