From economic theory to leisure practice via empirics: the case of demand and price

Despite the relationship of price and demand being central to economic analysis, doubts have been expressed in leisure studies about the ability of economists to contribute meaningfully to price decisions in leisure, or even to an understanding of price-demand relationships in leisure. This article uses a review of relevant theoretical and empirical considerations and a recent empirical investigation to refute such assertions. It demonstrates how leisure managers might utilize appropriate management information and market research data to improve both their understanding of the price-demand relationship and consequent pricing decisions, with the help of economic analysis.     

The Innovative Performance Of The World'S Largest Firms: Some New Evidence ‡

Data on R & D expenditures and US patenting in the world's 660 largest, technologically active firms both show a linear relation between firm size and the volume of innovative activities, despite some inconsistencies between the two measures. Technological diversity increases with firm size, but relatively weakly, especially in R & D-intensive sectors. Sectoral variations in the comparative technological advantage of large firms based in Japan, the USA and W. Europe are better explained by variations in rivalry in their home market than by variations in their size.     

Cost Accounting and Performance Measurement in a Just-in-Time Production Environment

There are normative statements in the literature, backed up by case observations and anecdotal evidence, which indicate that manufacturing companies operating just-in-time (JIT) production management systems should also change their cost accounting systems and place greater reliance on non-financial performance indicators. This study provides empirical evidence suggesting that JIT manufacturing companies which have made some degree of modification to their costing system demonstrate higher performance than JIT companies which have not made changes. The results also suggest that greater use of non-financial performance indicators is associated with higher performance irrespective of the production management system adopted.     

Conclusion: changes in Asian HRM – implications for theory and practice

A number of significant events have impacted on Asian countries over the period sine 1997 and the Asian crisis. This means that much of what we know about Asia is outdated and may well be irrelevant. It is for this reason that this contribution re-examines a number of Asian countries to explore how human resource management (HRM) has changed over this period. A model that can be used for a comparative analysis of HRM, and one that allows the various levels of change to be assessed, is presented. This is followed by an overview of the volume's contents with the common focus on the changes that have occurred over this period.     

Perspectives on the Sources of Heterogeneity in Indian Industry

This paper examines technical efficiency variation across four industrial sectors in India using a stochastic production frontier technique. The results obtained are comparable to technical efficiency distribution patterns obtained in other countries. Heterogeneity in firm-level efficiency is examined against internal, firm-level and external, industry and location characteristics. The results suggest that managerial effectiveness significantly influences efficiency and that there are considerable benefits deriving from location within established industrial clusters for particular industries. The methodology and findings indicate that the study of industry-specific technical efficiency patterns is a useful analytic tool for tracking firm response to ongoing liberalization.     

The influence of earnings per share on capital issues: some evidence from UK companies

This paper investigates the simple hypothesis that when companies issue more capital, they have a tendency to select the type of capital, all other things being equal, which results in the higher short-term earnings per share (eps). The methodology employs probit analysis to test the hypothesis that the form of issue selected was that which gave the higher eps after controlling for other factors such as leverage and industry classification. The results lead us to conclude that there is evidence in capital issues of functional fixation on eps.     

Single versus multiple channel strategies: typologies and drivers

Companies across every industry are increasingly relying on multiple channels to make their services available to consumers. Despite the popularity of multiple channel strategies, little is known about these distribution structures. In fact, the determinants of multiple channel strategies have remained virtually unexplored. The purpose of this article is to look at various approaches to classifying single versus multiple channel strategies, to look at some of the drivers of multichannel usage and to propose a new classification of single/multiple channels. Using data from the retail financial services sector, the article demonstrates that research into the drivers of multi-channels is sensitive to the classification used.     

Agricultural Land Conversion and Inheritence Tax in Japan

In this paper we investigate theoretically the extent to which the development timing of agricultural land conversion would be hastened by the introduction of inheritence tax. We extend the optimal timing of wealth maximizing value use models by Scouras (1978), Anderson (1993) and Kanemoto (1996) to examine cases where tax rates vary according to land use with (i) almost no income and (ii) high income use, such as rental housing. We first model landowner's behavior within the life cycle dynamic optimization framework and then simulate the impact of inheritence tax on the optimal timing of development. Some notable predictions about optimal timing of development emerge from our numerical analysis: no inheritence tax effect is observed for landowners whose inheritence probability is less than 1% (that is, landowners in the age group 40 or below) and whose inheritence tax rate is less than 10%. However, the optimal timing of development drops to below one year for landowners whose inheritence probability is more than 18% and whose tax rate is 30%.     

Foot-and-mouth Disease and Trade Restrictions: Latin American Access to Pacific Rim Beef Markets

Owing to their eradication of foot-and-mouth disease Argentina and Uruguay have recently been granted access to the fresh beef markets of the United States and Canada. This raises the prospect of Latin American suppliers gaining access to other Pacific Rim markets, and of increasing the integration of the Pacific and non-Pacific beef markets. A two-commodity spatial equilibrium model is constructed for the base year 1995. Projections are then made for the year 2001 under various policy and other scenarios. In some instances, major changes in trade patterns may result.