This article contributes to research on the regulation of technological risks in the form of a case study of the Baltic Sea ferry traffic. The analysis suggests that the social systemic features of an industry heavily influence the relationship between technological failures and risk regulation. The study augments recent work on how regulations affect the handling of technological risks and how failures influence regulatory arrangements. These issues have already been studied in the context of aviation, auto, chemical, nuclear power, and (...) railway industries, but not in shipping. As an extension to previous literature, the authors also explore how different regulatory organizations in this industry act in relation to risks and how they influence each other in risk regulation activities. The study highlights the indirect relationships between technological failures and risk regulation arrangements. It also underlines the influence of the involved actors on the regulatory responses to technological failures. (shrink)

This article argues that previous research on the outcomes of corporate responsibility should be refined in two ways. First, although there is abundant research that addresses the link between corporate responsibility (CR) and financial performance, hardly any studies scrutinize whether the type of corporate responsibility makes a difference to this link. Second, while the majority of CR research conducted within business studies concentrates on the financial outcomes for the firm, the societal outcomes of CR are left largely unexplored. To tackle (...) these two deficiencies, this article extends the different conceptualizations of corporate responsibility and elaborates both the financial and the societal outcomes of different types of CR. (shrink)

Dramatic economic developments have served to highlight ethical questions and responses within business life in Finland, particularly regarding the crisis of the Finnish banking system. Other issues which have aroused public discussion are maintaining the natural biodiversity in the Northern hemisphere forests, and Finland's trade with Russia. The authors, listed alphabetically, are all research fellows at the School of Business Administration in the University of Tampere, PO Box 607, 33101 Tampere,Finland.

Dramatic economic developments have served to highlight ethical questions and responses within business life in Finland, particularly regarding the crisis of the Finnish banking system. Other issues which have aroused public discussion are maintaining the natural biodiversity in the Northern hemisphere forests, and Finland's trade with Russia. The authors, listed alphabetically, are all research fellows at the School of Business Administration in the University of Tampere, PO Box 607, 33101 Tampere,Finland.

In some jobs, the correlation between effort and output is almost zero. For instance, money managers are primarily paid for luck. Using a controlled lab experiment, we examined under which conditions workers are willing to put in effort even if the output is determined by pure luck. We varied whether the employer could observe the workers’ effort, as well as whether the employer knows that earnings were determined by luck. We find that, workers believed that the employer will reward their (...) effort even if their effort does not affect earnings. Consequently, workers work harder if the employer could observe their effort. Moreover, even when the employer only saw earnings and not effort, workers labored harder if the employer did not know that earnings were determined by luck. (shrink)