Cost-allocation decisions in member controlled country clubs: A case analysis

Boca Vista Golf and Country Club (BVGCC), which operates as a not-for-profit organization, is a member-owned country club in South Florida. Since no mark-up for profit is included in member-owned clubs, total budgeted revenues (including member dues) must equal total budgeted costs. Accordingly, if net costs are used to determine dues for each membership category, cost-allocation decisions have a direct impact on member dues (product price). BVGCC is also subject to competitive pressures from public and semi-private golf courses. The case provides an overview of these competing forces and requests the service of a consultant to devise equitable and effective cost-allocation schemes for BVGCC.     

Interface of marketing and R&D personnel in the product innovation stream

A questionnaire was sent to over 550 different Canadian firms engaged in R&D activity as of the Fall of 1973. One portion of the questionnaire was designed to provide specific information about marketing involvement in the product development stream in Canadian organizations engaged in R&D. Analysis of the resulting data pertaining to: when marketing personnel are and should be brought into the product innovation stream; what level of marketing management is and should be brought into the product innovation stream; and the degree of influence of marketing personnel in product innovation is presented in this paper.     

Leveraged superannuation

Rules governing superannuation investments are made with respect to investment‐specific risks, rather than overall portfolio risks. In particular, legislation prohibits borrowing except in specific circumstances and on a non‐recourse basis. We model the distribution of leveraged portfolio outcomes for a representative investor, accounting for their age‐earnings profile, differing taxation of dividends, capital gains and franking credits, and the volatility of equity returns and interest rates. With explicit portfolio modelling, there is no need to categorize specific investments as ‘too risky’ on a stand‐alone basis. We show that leverage is likely to enhance retirement outcomes for investors with low risk aversion.     

An Empirically Derived Framework of Global Supply Resiliency

In today’s global business environment, supply chains have increased in both length and complexity. This increase in length and complexity coupled with a focus on improving efficiency, such as lean manufacturing practices, may lead to higher levels of supply chain risk where the likelihood of a disruption severely impacting supply chain performance increases. Resilient supply chains have been touted as a means to reduce the likelihood and severity of supply chain disruptions. However, there is little empirical evidence relative to the factors that contribute to or detract from supply resiliency. Using systems theory and the resource‐based view of the firm as the theoretical underpinnings, this study provides an in‐depth systematic investigation of supply resiliency. Adopting a theory‐building approach based on a multi‐industry empirical investigation, this study derives empirical generalizations linking 19 supply chain characteristics to supply resiliency. The study culminates in a framework that could be used to assess the level of resiliency in a supply base. Building on this framework, the study also provides a supply resiliency matrix that can be utilized to classify supply chains, or supply chains segments according to the level of resiliency realized. This article concludes by proposing several future research directions and issues that may be investigated in more detail.     

The Importance of Consistency in Establishing Cognitive-based Trust: A Laboratory Experiment

This paper reports the results of two experiments onthe importance of three trust cues on establishinginterpersonal trust within a business setting. Theliterature (Lewis and Weigert, 1985; Ring, 1996) hasidentified two aspects to trust: a cognitive elementin which trust is the result of a rational calculationby the trustor about how the trustee will behave inthe future, and an emotional element in which trust isthe product of a strong positive affection between thetwo individuals. Most social relations, includingeconomic ones, are based on cognitive trust, whereasemotional trust is the basis for intense personalrelationships, such as love and friendship. Thisstudy focuses on three cognitive-based cues thatengender trust within a dyadic relationship: thefrequency with which the trustee and trustor interact,the competence of the trustee, and the consistency ofthe trustees previous behavior. In two experiments,using a budget setting, trust is measured as theperceived reliability of the trustees budgetinformation and the estimated time for the trustor tocomplete the budget task. The results reveal that theconsistency of the trustees previous behavior is themost important element in engendering cognitive-basedtrust within a dyad.     

The market reaction to auditor resignations

Under UK company law, external auditors who resign must warn shareholders and creditors of any matter that ought to be brought to their attention. Auditor resignations and the subsequent change in auditor are informative corporate events. Resignation from office is likely to be a costly signal for the audit firm, particularly when the client is a quoted company. Our analysis of daily data suggests that there is a negative reaction to the auditor resignation on the date of the resignation letter, even though very few auditors indicate there were problems of which the shareholders and creditors should be made aware. This provides backing for the statutory rules on disclosure of the auditor resignation. We also find that the extent of the market reaction on the day of the resignation is related to the size of the resigning audit firm.     

不列颠哥伦比亚大学商学院：帮助雇员放弃部分奖金

公司发奖金的目的之一是想让雇员有快乐感，但我的研究发现，真正影响快乐的是雇员用奖金干什么。买新衣服、DVD光碟、ipod播放器等类似的东西无法带给人明显的快乐，然而，若将一小部分奖金分享给他人，雇员通常能获得强烈的快乐感。这就是说，公司应该提供一些“贡献社会“（本文指各种与他人分享奖金的行为，包括捐款、送礼物、救助等）的方式，以使雇员与他人分享自己的奖金。     

Information and College Access: Evidence from a Randomized Field Experiment*

High‐school students from disadvantaged high schools in Toronto were invited to take two surveys, about three weeks apart. Half of the students taking the first survey were also shown a three‐minute video about the benefits of post‐secondary education (PSE) and were invited to try out a financial‐aid calculator. Most students’ perceived returns to PSE were high, even among those not expecting to continue. Those exposed to the video, especially those initially unsure about their own educational attainment, reported significantly higher expected returns and lower concerns about costs, and expressed a greater likelihood of PSE attainment.