Trade Unions and the State: A Review of the Crisis

With the post-war breakdown of the industrial relations consensus ‘the trade union question’ has been central to British politics. In this article, the authors argue that no settlement will be lightly achieved and that it will require detailed policies based on radical principles. The alternative is a continuation of the long drawn out crisis until sectional demands and strife provoke increasing forms of state control.     

Owner-managers and firm performance during the asian and global financial crises: evidence from Korea

We examine the performance of the Korean owner-managers during the 1997?1998 Asian financial crisis and the 2008?2009 global financial crisis to establish whether they overcome the unexpected exterior shocks better than employed managers. We find that the owner-managers record a significantly greater performance during the crises, and especially during the latter period. Moreover, our results suggest that such a tendency comes from the owner-managers’ superior investment decisions. Our paper thus highlights the role of owner-managers by studying their performance during the Korean economic crisis periods. (JEL G01, G32, G34)     

A Study of the Informal Interactions between Audit Committees and Internal Auditors in Australia

This paper finds evidence for the growing importance of informal interactions between the internal audit function and the audit committee (AC) in Australia – a relatively unexplored topic in the literature – using a survey of Chief Audit Executives (CAEs). It also describes the nature of these informal interactions. The most innovative elements of this paper are the findings that certain personal characteristics of CAEs, the specific knowledge and expertise of the AC chair, as well as some of the AC chair's personal characteristics are associated with the existence (and increase) of informal interactions.     

New development: The role of benchmarking in supporting improvement in local government— Scottish and Welsh practitioners' perspectives

A primary leadership challenge facing central budget agencies is sustaining the respect of finance ministers. Lessons are drawn in this article from the corrosive effect that missed opportunities to take the lead on economic strategy and public service modernization had on the long-term respect commanded by the Irish Department of Finance, and from the strategic re-orientation the New Zealand Treasury undertook to correct its tendency to ‘over-reach’ itself in these areas following a process of capacity-building and cultural transformation in the 1980s.     

Optimal Exit Policy with Uncertain Demand*

In a framework where entrants must make sunk investment decisions with uncertain returns and have private demand information, we show that the relationship between innovation and exit value is non-monotone and features an inverted U-shaped pattern. Consumer surplus is maximised at the lowest exit value that incentivises the investment. These insights are applied to optimal merger policy. An entrant is more willing to innovate to be acquired afterwards, even if it has no bargaining power. This innovation-for-buyout effect implies that an entrant is less likely to leave the market under a lenient than a strict merger policy.     

Sustainable procurement: Past,present and future

Sustainable procurement is increasingly on the agenda for purchasing and supply managers seeking to demonstrate corporate social responsibility in their supply chains. In this paper, we identify trends in the literature and establish that this is a burgeoning field. We identify methodological challenges and research gaps to guide future research. We propose a sustainable procurement framework to help structure future research across supply chains. Finally, we introduce each of the papers in the special issue, and identify what makes them stand out as making a novel contribution to research in the field.     

Multidimensional quality-of-life measure with an application to Fortune's best cities

The notion of the quality of life is about a finite set of measurable attributes that can be weighted by some metric. The quality of life has subjective as well as objective dimensions. Single dimension measures now are recognized as too narrow to fully capture differences in the quality of life. Based upon data envelopment analysis (DEA), the current paper demonstrates how to develop a multidimensional measure to characterize the quality of life and identify its best-practice frontier which balances work and family life and judges practical comfort. Benchmarks are introduced into DEA models to implicitly reflect tradeoff information on quality-of-life related factors and to incorporate evaluation standards. A method is proposed to determine the unique best quality-of-life scale target. Critical quality-of-life factors are identified in a multidimensional construct. Fortune magazine's choice of the 20 best cities—15 domestic and five international—is investigated.     

Implications of CAP reform for land management and runoff control in England and Wales

WTO negotiations, as well as problems associated with intensive agriculture, such as overproduction, dependency on high levels of subsidies, diffuse pollution, soil degradation and loss of wildlife, have led to a reconsideration of agricultural policies in Europe. In April 2005, the new common agricultural policy (CAP)-reform came into force in the United Kingdom, decoupling financial support to farmers from agricultural production. Farm income support payments are now linked to compliance with standards (cross-compliance rules) which protect the environment, animal health and welfare. In the light of these policy changes, semi-structured interviews were carried out with 36 farmers in five catchments in the UK to explore interrelationships between CAP-reform, agricultural land management and runoff-related problems. Results from three catchments are specifically highlighted because of their relevance for soil policy.The CAP-reform appears to facilitate and accelerate changes in the agricultural sector that were already happening. It is likely that upland livestock farms will extensify further, which will reduce environmental burdens such as diffuse pollution, soil compaction and runoff. The uptake of agri-environment schemes by individual farmers has increased since the CAP-reform. However, additional impacts are limited as there is a tendency among participants to enter these schemes based on existing features and practices.Although most farmers interviewed for this study appear to recognise the need to reduce soil erosion and diffuse pollution, they are less convinced they should be held responsible for controlling storm-water runoff from farmland that might contribute to flooding downstream. However, there are opportunities to achieve several objectives simultaneously, including improved soil management, runoff control and reduced pollution. Lessons can be learned from farmers’ opinions about CAP-reform, from successful interventions that aimed to reduce soil erosion and diffuse pollution, and also from failures. Recommendations are made for improvements to the current agri-environment schemes and to promote land management practices with less environmental burden.