Pierce and Haugh on characterizations of causality: A re-examination

This paper amends the set of equivalent necessary and sufficient conditions under which y does not cause x, provided by Pierce and Haugh (1977).     

Improving Statistics on International Migration in Asia

International migration has reached unprecedented scale, diversity and political, economic, social and demographic significance in Asia over the last decade. Despite this data collection of migrant stocks and flows remains very limited in most Asian countries. Accordingly, policy making on migration in the region lacks an evidence base and is influenced by interest groups, anecdotal evidence and prejudice. This paper argues that the heightened security consciousness since 911 together with the development of efficient computer based collection and analysis of migration data systems has created a propitious environment for bringing about a parametric improvement in data collection on international migration in Asia. A number of suggestions are made in this regard, especially the inclusion of relevant international migration questions in the 2010 round of population censuses.     

Sensitivity Analysis And Schemes Of Arrangement

Formal mathematical techniques are being used increasingly as aids to commercial decision-making. We propose that those deciding whether to liquidate or trade-out should, as a matter of course, have sufficient information to enable sensitivity analysis on any forecast returns. Sensitivity analyses are notably lacking in documentation used for predicting the outcomes of schemes of arrangement such as the complex Estate Mortgage Trusts (EMT) moratorium on the withdrawal of funds by unitholders. This article details the outcomes of some schemes of arrangement in Australia in the 1960s and 1970s and discusses the EMT moratorium. The moratorium procedures provide the setting and data for simulations and sensitivity analyses. Coupled with the evidence provided by Dean (1977, 1983) and Aitken (1981), this suggests a need for information on the expected timing of payouts to enable sensitivity analysis whenever a scheme involves delayed distributions.     

Price‐cap regulation and the scale and timing of investment

This article shows how scale economies affect regulated firms’ investment behavior and welfare‐maximizing regulation of price and quantity. Regulated firms invest in smaller, more frequent, increments than social planners, with greater investment distortions the greater the economies of scale. Regulators cap prices at lower levels than planners when economies of scale are moderate, and at higher levels when they are substantial. When quantity is also regulated, the average cost of building capacity increases but the price cap decreases. Immediately after firms make their initial investment, regulators want to transfer surplus from customers to shareholders by raising the price cap to induce additional investment.     

Political parties' use of web based marketing: some preliminary findings relating to first‐time voters in the 2005 general election

• This paper examines the marketing of political parties, via websites, in the 2005 UK general election with specific reference to first‐time voters (age 18–24). Common perception views young voters as predominantly politically apathetic and less likely to vote than older generations. However, research literature suggests given the right message and medium, the group will engage in the political process. Could the Internet provide a path to engaging younger voters and will websites become a key marketing vehicle for political parties?
• Young voters were asked to review political party websites using an extended web assessment method (EWAM), which is an evaluation tool created to determine both the importance and presence of website evaluation criteria. Preliminary research suggests that respondents felt the Internet had a significant role to play in the election process and marketing of campaign messages. However, while political parties scored well in relation to the technical/software aspects of website design, participants felt website material had little appeal and were ineffective in influencing voter intent.

Copyright © 2006 John Wiley & Sons, Ltd.     

Adoption of activity management practices: a note on the extent of adoption and the influence of organizational and cultural factors

We examine the extent to which activity management practices are adopted by Australian business units at each of Gosselin's [Gosselin, M., 1997. The effect of strategy and organizational structure on the adoption and implementation of activity-based costing. Acc. Organ. Society 22 (2), 105–122] levels of Activity Analysis, Activity Cost Analysis and Activity-based Costing. We also examine the association between extent of adoption and the organizational factors of size and decision usefulness of cost information, and the business unit culture dimensions of innovation, outcome orientation, and tight versus loose control.Data were collected by mail survey questionnaire of a random sample of business units, with questionnaire design and distribution based on Dillman's [Dillman, D.A., 2000. Mail and Internet Surveys: The Tailored Design Method. John Wiley & Sons Inc., New York] Tailored Design Method. Adoption rates are found to be higher than in prior studies, suggesting the continuing relevance of activity management practices and the advantage of using Gosselin's (1997) levels. All factors were found to be associated with all activity management practices. In particular, business unit size and all three business unit culture dimensions were found to be associated with extent of adoption of Activity Analysis (AA) and Activity Cost Analysis (ACA), while decision usefulness and the cultural dimensions of outcome orientation and tight versus loose control were associated with Activity-based Costing.     

Estimating unobservable valuation parameters for illiquid assets

A problem that often arises in applied finance is one where decision‐makers need to choose a value for some parameter that will affect the cash flows between two parties involved in the operation of an illiquid asset. Because the values of the cash flows also depend on various unobservable parameters, identifying the value of the policy parameter that achieves the desired allocation between the parties is no simple task, often resulting in disputes and the invocation of ad hoc approaches. We show how this problem can be solved using an extension of the well‐known ‘implied volatility’ technique from option pricing, and apply it to the determination of equilibrium rental rates on ground leases of commercial land.     

Comparing managerial careers,management development and management education in the UK and the USA: some theoretical and practical considerations

This article explores some of the issues surrounding changing patterns of managerial careers, management development and management education in the UK and the USA. It addresses three lines of questioning: the new rhetoric of careers in the new economy, the evidence on changing organisational forms and the implications for careers and management development and education, and the future of management education and the role of business schools. The article is intended as a ‘think piece’ and acts as a backdrop for a comparative study of management development in Scotland and California currently being undertaken by the authors.