Export Versus FDI and the Communication of Complex Information

Traditional proximity-concentration models of the decision to serve foreign markets through exports or FDI sales tend to overemphasize physical transport costs and market size while underemphasizing the cost of transmitting information. I augment those models with the importance of interacting with customers and communicating complex information within firms and use these characteristics to predict the location of production. Goods and services requiring direct communication with consumers are more likely to be produced in the destination market. Activities requiring complex within firm communication are more likely to occur at the multinational's headquarters for export, especially when the destination market has weak institutions. These predictions are tested using firm-level data from the Bureau of Economic Analysis US Direct Investment Abroad Benchmark Survey of Multinationals combined with task-level data from the Department of Labor's Occupational Information Network. The approach developed in this paper performs well for both manufacturing and service industries and is robust to a variety of specifications.     

Post-apartheid urban geography: A case study of Greater Johannesburg's Rapid Land Development Programme

This article addresses the twin issues of urbanisation and the eradication of the socio-spatial patterns of apartheid in South African cities through the presentation of a case study – the Greater Johannesburg Metropolitan Council's Rapid Land Development Programme (RLDP), initiated in 1995. This has been one of the few housing delivery programmes in the country since 1994 which has attempted to address these two issues simultaneously (the Marconi Beam Development in Cape Town being another). The significance of the RLDP lies not only in its marginal success, but also in its failures. It brought to the surface the intractable ideologies and vested interests behind the patterns of property ownership in South African cities, as well as the lack of policies or procedures to challenge them. As a result, urban development in general, and in Greater Johannesburg in particular has, since 1994, reinforced rather than confronted apartheid geography.     

Going private transactions,bondholder returns,and wealth transfer effects

We examine how buyout activity and deal characteristics drive bondholder returns and the wealth transfer effects between bondholders and stockholders in going private transactions from 1981 to 2006. We find that various deal characteristics are major determinants of the cross-sectional variation in bondholder returns. In particular, a single private equity acquirer mitigates bondholder losses. On the other hand, bondholders have larger losses when a reputable buyout firm is involved in the deal. Bondholders experience losses in the 1980s and 2000s, but enjoy gains in the 1990s. Our findings remain robust to consideration of deal financing, relative cost of credit, and level of market overheating. We find a negative and significant relationship between stockholder and bondholder wealth effects, which supports the wealth transfer hypothesis.     

Constructing identities in Indian networks: Discourses of marketing management in inter-organizational relationships

This paper explores business-to-business (B2B) marketing values and knowledge systems in India and their impact on identity construction in industrial networks. Our study moves methodological approaches into more interpretive territory by acknowledging the processes of social construction in networks as articulated by the IMP Group. We bring an interdisciplinary perspective to B2B marketing studies by recognizing cultural influences on managers' constructions of Indian modernity and explore what these linguistic moves may mean for the management of buyer–seller relationships. We highlight the dexterity with which individual actors discursively position themselves, their (and other) firms and countries by drawing upon a range of interpretive repertoires in their accounts of relationship management. Our chief contribution is to conceptually synthesize some of the discursive forces at work in identity processes within Indian business networks and to empirically illustrate the inherent tensions within managers' talk as they construct individual, organizational and national identities.     

Lies,Damned Lies and More Statistics: The Neglected Issue of Multiplicity in Accounting Research

The problem of ‘multiplicity’ (and selection) is considered by many statisticians to be among the most difficult and important problems they face. It includes such areas as multiple tests, variable selection in regression analysis, subgroup analysis and data mining. It undermines statistical inference by inflating type I errors well above reported levels of significance. The basic issue confronting researchers is how to adjust inferences to allow for multiplicity, particularly in exploratory or model-building analyses where standard textbook probability calculations associated with estimation and hypothesis testing do not apply. Despite its importance, and unlike what occurs in other disciplines, the multiplicity problem receives little or no attention in accounting. This situation is of concern because survey results suggest that serious type I error inflation is a real possibility in management accounting. In attempting to remedy this situation, the paper adopts a classical statistical framework for the purpose of examining the key issues underlying the problem and to present some strategies for dealing with it. These strategies offer the researcher a reasoned approach that recognises the possibility that the observed results may be due to chance, as well as the possibility that they are real. The discussion also highlights the fact that the only way to deal with the issue of multiplicity successfully is to repeat results on new data.     

Diaries from the front line—Formal supervision and job quality among social care workers during austerity

Focusing on social care workers in public, private and voluntary sectors, this article contributes to research on the impact of austerity on public service human resource management (HRM). The article uses an innovative diary method to highlight the importance of intrinsic elements of job quality such as supervision practice in mitigating degradation in extrinsic elements as austerity dismantles public service HRM. The article also reports that supervision has itself come under pressure due to resource shortages. The results regarding sub‐sector differences have implications for policy‐makers and practitioners in terms of rebuilding the standard employment relationship in social care so that they are more sensitive to differences across private, public and voluntary sectors.     

New Paths to Capitalist Agricultural Production in Africa: Experiences of Ghanaian Pineapple Producer–Exporters

With the global restructuring of agri‐food markets since the 1980s, an impressive amount of scholarship has examined its impacts in African countries. However, little has been written on the emergence of local medium and large‐scale commercial farmers selling to export companies or controlling their own export marketing arrangements. This article examines Ghanaian commercial farmers producing and exporting fresh pineapples to European markets. This group of pineapple producer–exporters represents a path to capitalist agricultural production that can be conceptualized as capitalism from outside: where capital flows into the countryside, rather than accumulation occurring from above or below within the agrarian economy. The emergence of this form of agrarian capitalism is stimulated by opportunities in new high‐value agricultural export markets, but its stabilization depends on country‐specific characteristics such as rural social structures, property rights and state support. The article documents the conditions of emergence of this new group of Ghanaian capitalist farmers, the period of destabilization caused by increasing international competition that resulted in a small number of large‐scale agribusiness firms surviving, and the challenges that these agribusiness firms faced in stabilizing their capitalist agricultural production.     

Civil Society as Idea and Civil Society as Process: The Case of Ghana

The concept of civil society is ubiquitous in debates about democracy in Africa. This article distinguishes civil society as idea from civil society as process. The idea of civil society provides a shared language, which obscures fundamental differences. The process of civil society refers to the complex interactions of historically generated social structures, political issues, personal networks, material incentives, state resources and international linkages. In Ghana, there are continuities in the centralization of national decision-making, reinforced by international agencies, and the mobilisation, demobilisation and selective exclusion of social groups. 'Civil society' is the outcome of the process in which the idea of civil society is discursively constructed and used by donor agencies, international NGOs, the Ghanaian government and Ghanaian social organizations to legitimate their actions.