Credit Cards: Haves,Have-Nots and Cannot-Haves

Credit card ownership has grown enormously over the past twenty years. This article analyses two major data sets - the government's Family Expenditure Survey and a credit card grantor's database of clients -to investigate who has credit cards and, for those who do not have them, whether they would be given cards if they applied for them. The results show which sections of the population are averse to owning credit cards, and some surprisingly low levels of ownership among, for example, those who have bank accounts.     

How Do Retailers Price Beer During Periods of Peak Demand? Evidence from Game Weeks of the German Bundesliga

This article considers retail beer pricing during game weeks of the German Bundesliga. German consumers exhibit a high degree of brand‐loyalty in their preference for regionally crafted beers, and we exploit the regional brand‐loyalty of German beer consumers to identify brand‐level demand shocks for beers preferred by the home team's fans and visiting team's fans during Bundesliga game weeks. We find retailer price adjustments at the category level mask a considerably more nuanced pricing behavior at the brand level. Retailers in regions hosting Bundesliga games significantly increase beer prices at the category level during game weeks; however, at the brand level, we find retailers selectively discount prices on the home team's sponsored beers and systematically raise prices on the visiting team's sponsored beers. Our findings are consistent with a “tourist–natives” model of retail pricing during periods of increased demand in the German beer market.     

The effect of published reports of unethical conduct on stock prices

This study adds to the empirical evidence supporting a significant connection between ethics and profitability by examining the connection between published reports of unethical behaviour by publicly traded U.S. and multinational firms and the performance of their stock. Using reports of unethical behaviour published in the Wall Street Journal from 1989 to 1993, the analysis shows that the actual stock performance for those companies was lower than the expected market adjusted returns. Unethical conduct by firms which is discovered and publicized does impact on the shareholders by lowering the value of their stock for an appreciable period of time. Whatever their views on whether ethical behaviour is profitable, managers should be able to see a definite connection between unethical behaviour and the worth of their firm's stock. Stockholders, the press and regulators should find this information important in pressing for greater corporate and managerial accountability. Dr. Spuma M. Rao is Associate Professor of Finance, College of Business Administration, University of Southwestern Louisiana. His publications appear in such journals as Global Finance, American Business Review, Financial and Strategic Decision Making, Business and Economic Review, The Appraisal. J. Brooke Hamilton III is Assistant Professor in the Department of Management, University of Southwestern Louisiana. He was head of the Philosophy Department at Tuskegee Institute, spent 14 years in industry and returned to academe after completing his M.B.A. His work appears in the Journal of Business Ethics, Southeastern Journal of Legal Studies in business, and the proceeding of the Southern and Southwestern Marketing Associations.     

An empirical test of the rent-shifting hypothesis: the case of state trading enterprises

A central result in the theoretical literature on strategic trade is the ‘rent-shifting hypothesis’, the idea that government’s can employ trade policy as a precommitment device to transfer profit from foreign to domestic firms. To our knowledge, however, the rent-shifting hypothesis remains untested empirically. This paper constructs a theory-based empirical test of rent-shifting behavior that relies on observations of government precommitment variables employed through State Trading Enterprises (STEs). The analysis applies data on the delayed producer payment structure of the Canadian Wheat Board (CWB) and examines its merits as a rent-shifting mechanism in the international durum market. The model fails to reject the hypothesis that the CWB utilizes a pre-commitment mechanism in the international durum market and several nonparametric tests confirm that the observed transfer payments set by the CWB are consistent with rent-shifting behavior in the 1972-95 pre-WTO period.     

Gender as a determinant of small business performance: Insights from a British study

The performance of small businesses, that is the ability of small firms to contribute to job and wealth creation through business start-up, survival and growth, has been an important area of policy and academic debate in the 1980s. Surprisingly little has been written about gender and small business performance. Our literature search revealed only a small number of studies of any substance on this subject, though over forty made some mention of it, Most studies shied away from direct examination of quantitative performance measures (such as jobs created, sales turnover, annual growth), tending to concentrate on qualitative measures of success or failure. The paper examines small business performance and gender using data obtained from a survey of 600 (300 women, 300 men) Scottish and English small business ownermanagers, part of a three year study on the impact of gender on small business management. Analyses suggest that the relationship between gender and small business performance is complex, but that gender still appears to be a significant determinant even after other key factors are controlled for.     

Persuasion and industrial relations: a case of argument in a joint consultative committee

As persuasion and argument are central to the processes of industrial relations this article makes a plea for a ‘rhetorical turn’ within industrial relations. Using Toulmin’s model of argument, it highlights the utility of such an approach through analysis of the argumentative nature of discussion within a JCC.     

Experiences of high-growth technology firms in Malaysia and New Zealand

How do technology firms experience high growth and the support available from governments? This qualitative study explores the experiences of high-growth technology-based firms in Malaysia and New Zealand. Case studies were developed for eight high-growth companies in the information and communication technology sectors of each country. The countries differ in national cultures and the forms of government support. There were no marked country differences in growth drivers. Growth was driven by innovation and flexibility within business-to-business sales relationships. These firms faced four obstacles: intense competition; liabilities of smallness; limited human capital; and funding ability. Malaysia offers broader mainstream support with favourable tax treatment of R&;D related expenditure. In contrast, New Zealand’s has been criticised for a highly targeted approach, although this is now broadening. Both countries appear to be converging on a hybrid approach combining mainstream and targeted support for growth businesses.