From consensus to fragmentation: The dynamics of paradigm change in Israel

This paper reports on the evolution of spatial planning approaches in Israel with emphasis on the relationship between planning and ideology. The major characteristics of planning studied are: (1) the role of planning; (2) the planning process and methodology; (3) the problems and goals of planning; (4) planning concepts at the national and regional level. The main findings of the research identify four major periods which represent phases in the process of paradigm change: the phase of Grand-Ideas, the phase of Action, the phase of Professionalization, and finally the phase of Ad-hocism. The development of these phases is related to geopolitical changes, socio-economic conditions, the social climate, and the planners' background. These phases are examined in the light of the theoretical framework proposed by Kuhn concerning the development of scientific paradigms.     

Repeat‐Sales Indexes: Estimation without Assuming that Errors in Asset Returns Are Independently Distributed

This article proposes an alternative specification for the second stage of the Case‐Shiller repeat‐sales method. This specification is based on serial correlation in the deviations from the mean one‐period returns on the underlying individual assets, whereas the original Case‐Shiller method assumes that the deviations from mean returns by the underlying individual assets are i.i.d. The methodology proposed in this article is easy to implement and provides more accurate estimates of the standard errors of returns under serial correlation. The repeat‐sales methodology is generally used to construct an index of prices or returns for unique, infrequently traded assets such as houses, art and musical instruments, which are likely to be prone to exhibit serial correlation in returns. We demonstrate our methodology on a data set of art prices and on a data set of real estate prices from the city of Amsterdam.     

Why is Productivity so Dispersed?

Many papers have documented wide variations in productivityeven in narrowly defined industries. Some have argued that thisprimarily reflects measurement problems due, for example, tocomparing across different products. Others argue that thisreflects persistent differences in performance due, for example,to management. This paper looks at productivity differencesnot within an industry but within a firm. We use data on productivityof different branches within lines of business of a major UK-basedwholesaler. Using these productivity data for comparisons is,we argue, more likely to compare like with like than comparingbetween firms. We document sustained differences in productivityeven between branches within the same line of business. We alsodiscuss the extent to which they are correlated with differencesin management and find that such differences ‘account’for around 40 per cent of the difference in productivity. Footnotes ¹ E-mail addresses: r.griffith{at}ifs.org.uk; j.e.haskel{at}qmul.ac.uk;a.neely{at}cranfield.ac.uk     

Immigrant Entrepreneurship in an Emerging Economy: The Case of Turkey

This paper examines motivations for, and paths to, entrepreneurship among immigrants in Turkey based on interviews with 22 immigrant entrepreneurs in Istanbul. Findings suggest that immigrant entrepreneurs in a developing economy may be different from their counterparts in well‐established economies. First, immigrant entrepreneurs rely on their unique human and social capital in the process of starting businesses thanks to their ability to identify opportunities based on insider knowledge of the market in their home and host countries. Second, their ability to foster trusting relationships thanks to language, cultural, and religious knowledge permits immigrant entrepreneurs in an emerging economy to engage in less economically marginal activities.     

They Are Not All the Same! Investigating the Effect of Executive versus Non‐executive Family Board Members on Firm Performance

Drawing on faultlines and challenging the assumption that family board members form a homogenous subgroup, we hypothesize that the distinction between executive and non‐executive family board members can create faultlines that affect firm performance. We propose that the discrepancy between results and goals can activate and exacerbate faultlines. Using a sample of 421 family small and medium‐sized enterprises (SMEs), we find a U‐shaped relationship between the ratio of family executive board members and firm performance showing the consequences of relationship‐based and task‐related faultlines. Moreover, we find that the U‐shaped relationship occurs when firms perceive that they under‐achieve their objectives, whereas a reverse J‐shaped relationship appears when firms over‐achieve their objectives.