Public housing and the black community

Summary and Conclusions Earlier in this paper five major goals of federal housing policy were listed and it was noted that the public housing program was only one vehicle used to work toward these goals. In this section, the conflicts and issues that arise in the pursuit of these goals through this program, as spelled out in the preceding pages, will be summarized. As well, suggestions of other means to provide housing for the low-income will end the paper.     

BANKING SECTOR POLICIES AND FINANCIAL DEVELOPMENT IN NEPAL

ABSTRACT This paper examines the interactions between banking sector policies, financial development and economic growth in Nepal employing recently developed time series techniques. Policies such as interest rate controls, directed credit programmes, reserve and liquidity requirements are identified and measured. A summary measure of repressive policies is constructed by the method of principal components. This measure is found to have a statistically significant influence deepening, independently of the real interest rate. We argue that our findings are consistent with the hypothesis of market failure. Exogeneity tests suggest that financial deepening and economic growth are jointly determined. Thus, policies which affect financial deepening may also have an influence on economic growth.     

Firm-specific information and efficient resource allocation*

Abstract. This paper analyzes the decision-facilitating role of external accounting reports in large capital markets in which managers are costlessly motivated to act in the best interests of investors. Given homogeneous beliefs, time-additive preferences, and a sufficient variety of tradeable claims, external accounting reports are shown to provide a basis for Pareto improvements (relative to merely reporting dividends) only if those reports provide a means of making better production decisions. In a large economy, with both economy-wide and firm-specific risks, such improvements are shown to occur if the reports reveal events that affect the future productivity of the economy or individual firms or events that will result in economy-wide windfall gains or losses. However, reports that reveal future firm-specific windfall gains or losses have no value, even though they would affect market prices. Furthermore, while resources will be allocated more efficiently if managers have information about the productivity of their firms, the economy can achieve those efficiency gains without reporting firm-specific productivity information to investors, provided that investors hold well-diversified investment portfolios and are aware of each manager's information structure and decision criterion (which is to maximize the “full information” value of their firms). Résumé. Les auteurs analysent le rôle des rapports comptables externes, lorsqu'il s'agit de faciliter la décision, dans les marchés de capitaux importants dans lesquels les gestionnaires sont motivés à agir dans les meilleurs intérêts des investisseurs, sans que cela n'occasionne de coûts. Etant donné l'homogénéité des convictions, le renforcement des préférences dans le temps et une variété suffisante de créances négociables, il appert que les rapports comptables externes peuvent servir de base aux améliorations au sens de Pareto (relatives à la simple divulgation des dividendes) seulement si ces rapports permettent de prendre de meilleures décisions de production. Dans une grande économie, qui présente des risques tant à l'échelle de l'économie dans son ensemble qu'à l'échelle des entreprises particulières, ces améliorations semblent se produire si les rapports révèlent des événements qui touchent la productivité future de l'économie ou des entreprises particulières ou des événements qui donneront lieu à des gains ou à des pertes à l'échelle de l'économie. Toutefois, les rapports qui révèlent des gains ou des pertes éventuels particuliers à une entreprise n'ont pas de valeur, même s'ils sont susceptibles d'influer sur les prix du marché. En outre, bien que les ressources puissent être réparties de façon plus efficiente si les gestionnaires possèdent de l'information au sujet de la productivité de leur entreprise, l'économie peut réaliser ces gains d'efficience sans faire état aux investisseurs de l'information relative à la productivité particulière à l'entreprise, à condition que les investisseurs détiennent des portefeuilles de placements bien diversifiés et qu'ils soient au fait de la structure d'information et du critère de décision de chaque gestionnaire (qui consiste à maximiser la valeur de «l'information complète» relative à leur entreprise).     

Cognitive consistency of marketing managers in ethical situations

This study is an empirical investigation to determine if managers are consistent in their ethical decision making. Respondents were evenly distributed among five moral philosophy types. The results suggest that, depending upon the situation, respondents will sometimes change their value structure or their perceived moral philosophy type.     

Land use and farming systems in the Horn of Africa

Efficient land use and farming systems are essential if agricultural production is to be increased substantially in Africa on a sustainable basis. Land use and farming systems in the Horn of Africa — Sudan, Somalia, Ethiopia and Djibouti — are analysed in this article. Policy options and recommendations to improve the situation in the four countries are outlined.     

A model of entry–exit decisions and capacity choice under demand uncertainty

Many investment decisions of agribusiness firms, such as when to invest in an emerging market or whether to expand the capacity of the firm, involve irreversible investment and uncertainty about demand, cost or competition. This paper uses an option‐value model to examine the factors affecting an agribusiness firm's decision whether and how much to invest in an emerging market under demand uncertainty. Demand uncertainty and irreversibility of investment make investment less desirable than the net present value (NPV) rule indicates. The inactive firm is more reluctant to enter the market when it takes into account demand uncertainty because it preserves the opportunity of making a better investment later. The active firm is more reluctant to abandon the investment because there is an option value of keeping the operation alive. There is a greater distance between the entry and exit thresholds under the option‐value approach than under the NPV rule due to demand uncertainty. The results have implications for agribusiness decision‐making.     

The influence of ethical climate and ethical conflict on role stress in the sales force

Several leading models of ethical decision making include factors contributing to an organization’s ethical climate as significant determinants affecting ethical choice. The relationship of ethical climate to ethical conflict and role conflict is examined in a salesperson context. Results suggest that salespersons’ perceptions of a positive ethical climate are negatively associated with their perceived ethical conflict with sales managers. Implications and directions for future research are provided. He has experience in wholesale and retail sales. His research interests are in sales, sales management, marketing ethics, and consumer behavior. His articles have appeared in theJournal of Public Policy and Marketing, Journal of Business Ethnics, Journal of Marketing Management, Journal of Marketing Theory & Practice, andIndustrial Marketing Management, as well as various national and regional proceedings. He is coauthor ofSales Management: Analysis and Decision-Making. He is currently the president of the Academic Council of the American Marketing Association. He is a Southern Marketing Association Fellow and a Southwestern Marketing Association Fellow. He has published 15 books and more than 50 articles. His books includeMarketing: Concepts and Strategies andBusiness Ethics. His work has appeared inJournal of Marketing, Journal of Marketing Research, Journal of the Academy of Marketing Science, among others. His major research focus is marketing implementation and ethical compliance frameworks for organizations. Before commencing his academic career, he worked in sales, product management, and sales management with Exxon and Mobil. He has received various teaching and research awards, including being named the Marketing Educator of the Year by Sales and Marketing Executives International (SMEI). His primary research is in personal selling and sales management. His work has appeared inJournal of Marketing, Journal of Marketing Research, Journal of Personal Selling & Sales Management, andJournal of the Academy of Marketing Science, among others. He is the coauthor of five textbooks, includingThe Professional Selling Skills Workbook, Sales Management: Analysis and Decision-Making, andMarketing Principles and Perspective.     

Africa in the 1990s and beyond: Alternative prescriptions and projections

This article examines the origins, dimensions and implications of Africa's crisis. It draws attention to the impact of historical experiences, the distortions and disarticulations of that experience, and to the coalitions, contradictions, crises and conflicts inherited at independence. It looks at postcolonial alignment and realignment of social and political forces, the crisis of accumulation and power, and the implications of the region's marginal location and role in the global division of labour and power. Calling for a need to transcend the manifestations of the African predicament, the article looks at regional and international responses to the crisis. It concludes by prescribing the need for a fundamental political restructuring, the empowerment of the people and their communities and organizations, a socially sensitive structural adjustment programme, and the recomposition of the content and context of politics and social relations.     

Examing the effects of positive social labeling,time, and request sizes on compliance in a multistage marketing survey context

Following the lead of Reingen and Bearden (1983), this study examines the effectiveness of positive social labeling, particularly in conjunction with other factors, as a means of influencing verbal and behavioral compliance in a multistage marketing survey context. Such results offer a systematic extension to the labeling literature and provide further insight into labeling’s role as a practicable method of shaping and stimulating respondent behavior.