Social and cultural capital in project marketing service firms: Danish architectural firms on the German market

This article analyses the marketing activities of three Danish architectural firms in Germany during the 1990s from a perspective that is new to project marketing, in that the Bourdivan concepts of social and cultural capital are applied to the offerings and activities of firms. In architecture, cultural capital accumulation entails such things as building visible buildings, winning design competitions, or obtaining important tenders, whereas social capital is accumulated through the recognition by other construction industry actors that one is a member of their circles. The cases presented provide support for our claim that the accumulation of social and cultural capital is crucial to acquiring architectural projects, while also indicating that cultural and social capital are internationally transferable to a limited extent only. This in turn suggests that national construction industries are best viewed as distinct project marketing milieus.     

Strategic groups: A cognitive perspective

The strategic group concept provides an attractive middle ground between firm and industry for both theory development and empirical analysis. To date, this concept has been defined by researchers in terms of secondary accounting and financial data, and a number of critics have questioned the validity of this work. Our research shows that industry participants share perceptions about strategic commonalities among firms, and that participants cluster competitors in subtle ways not reflected in extant academic research on strategic groups. Decision makers' perceptions and cognitions are phenomena that can be expected to influence industry evolution. They are of research interest as an additional source of data on firm commonalities which helps address concerns about previous strategic group research.     

Sustainable Tourism: An Overview of the Concept and its Position in Relation to Conceptualisations of Tourism

Reference to sustainable tourism is now made in most strategic tourism planning documents. Yet, despite its common use, definitional arguments exist over its meaning and subsequent operationalisation. In addition to this, literature on sustainable tourism rarely discusses its development prior to the publication of Our Common Future (World Commission on Environment and Development (WCED), 1987) and its relevance to current conceptualisations of tourism. This paper analyses the context within which sustainable tourism was developed and has recently been conceptualised. It does this by assessing the development of sustainable tourism (with an Australian focus) and proposing a model which incorporates the development of sustainable tourism into tourism. The paper argues that sustainable tourism has traditionally given more focus to aspects related to the environment and economic development and that more focus should be given to community involvement.     

The Existence and Composition of Audit Committees in the New Zealand Public Sector

This study investigates the association between the source of funding of New Zealand public‐sector entities (PSEs) and the existence and composition of their audit committees. We examine 134 PSEs in the health, local government and tertiary sectors. Of these PSEs, 81 (60%) have an audit committee. The size of the audit committees are on average larger than recommended by best practice guidelines. However, most of the PSEs comply with guidelines recommended for audit committee independence but not financial expertise. PSEs with higher levels of government funding are more likely to establish audit committees and PSEs that rely on funding from rate payers and debt providers are more likely to have audit committees with a majority of independent members. There is no support for the association between the source of funding and the level of financial expertise on audit committees.     

Egypt: Food security and food aid

This article examines the multifaceted notions of food security and food aid through a case-study of a rather exceptional country in political terms - Egypt. Egypt has achieved a high degree of food security with lessened reliance on domestic production and has become one of the largest recipients of cereal food aid. The analysis considers significant questions about the interdependence of food security and food aid, the maintainability of an externally dependent food system, its implicit resource costs and its internal distribution and equity impact.     

Analysing disequilibrium exchange-rate systems in developing countries

Many developing economies have imposed quantitative restrictions on their international trade and tight control on capital movements. Disequilibrium balance-of-payments models developed to capture this restrictive trade regime demonstrate that the effects of a devaluation from an initial situation of disequilibrium with rationing can differ substantially from those predicted by traditional balance-of-payments models. Recent extensions to such models show that the effects of any policy measures depend critically on the initial disequilibrium conditions. Attempts at liberalizing trade and payments regimes have stimulated further analysis on the process of ‘opening up’ a developing economy. This work highlights the interaction between balance-of-payments current and capital accounts.     

Book Reviews

Indonesia: The Transmigration Program in Perspective, Washington, D.C.: World Bank, 1988, pp. 227 + xlii. Paper: US$17.00.

William Segers, Changing Economy in Indonesia, Vol. 8, Manufacturing Industry 1870–1942, Amsterdam: Royal Tropical Institute, 1988, pp. 224. Dfl. 48.00.

Leslie Castle and Christopher Findlay (Eds), Pacific Trade in Services, Allen and Unwin, Sydney, 1988, pp. 294 + Xiv. Paper: 24.95; Cloth: $39.95.     

A Citation Analysis of Management and Organization Research in the Chinese Context: 1984–1999

Since modern China was closed to the outside world until 1979, research on management issues within organizations operating in the Chinese context is a relatively recent phenomenon. In this study, we analyzed this body of research by performing a citation analysis on 226 research articles on this topic published in 20 leading English language academic journals over the past 16 years (1984–1999). The citation impact analysis identified the 52 most cited articles and the academic journals as well as the most influential authors on this research. We examined the issues or topics in these 52 influential articles and suggest some directions for future research.     

Do lack of transparency and enforcement undermine international risk-sharing?

This paper studies the extent to which poor institutions compromise risk-sharing. We model a multilateral organization as a social contract that provides insurance to members. Countries privately observe the realization of a performance variable with a verification cost that differs across countries, reflecting the “transparency” of institutions. When the level of transparency is exogenous, the optimal contract provides complete expected risk sharing across countries and states. Poor transparency and enforcement reduce consumption and result in insurance rationing. When a country can increase transparency endogenously, this generates an externality and moral hazard. We first characterize the outcome when the multilateral agency can influence members’ institutions by choosing the countries’ level of effort. Next we derive a tax/subsidy scheme that can induce countries to choose the socially optimal level. JEL Classification Numbers D8, F3 We are grateful to Biung-Ghi Ju, Ted Juhl, Donald Lien, Joseph Sicilian and Jianbo Zhang for helpful comments. We are especially grateful to an anonymous referee for comments that improved the paper substantially.