The making of modern champagne: how and why the taste for and the taste of champagne changed in nineteenth century Britain

ABSTRACT

Between 1800 and 1900, the taste of and for champagne in Britain changed entirely. From a sweet, and often, still wine it became both universally sparkling and extremely dry. Its usage also changed; drunk on its own or with sweet desserts in 1800, an accompaniment to savoury dishes and roast meats by 1900. How and why did these changes occur? Letters exchanged between the champagne houses and their London agents document changing styles of production whilst the changing nature of British taste can be tracked from the British press, from the many contemporary wine books and the records of the dominant distributive firm of W. & A. Gilbey. Using the Social Practice Theory of Shove and Pantzar and building on Leibenstein’s ground-breaking 1950 article on “snob” and “bandwagon” effects this article suggests a framework for understanding taste changes in British society.     

Interdependencies between agricultural commodity futures prices on the LIFFE

Interdependencies between commodity prices can arise from the impact of changing macroeconomic variables, from complementarities or substitutabilities between commodities, or from common responses by speculators. Malliaris and Urrutia (1996) found significant linkages between rollover prices of six related agricultural commodities on the Chicago Board of Trade. This article examines interdependencies between futures prices for soft commodities traded on the London International Financial Futures Exchange (LIFFE), calculated using Clark indices. Results show that there are no interdependencies between any two prices; price discovery of one contract provides no information about others. © 2002 John Wiley & Sons, Inc. Jrl Fut Mark 22: 269–280, 2002     

FOCUS: Using Case Studies to Teach Ethical Business

Case studies invite students to share in an ethical dilemma and challenge them about their values. Dr Sheldrake is Reader in Modern History at London Guildhall University, Old Castle St., London E1 7NT. A version of his case study appeared in Sarah Vickerstaff (Ed.), 1992, Human Resource Management in Europe: Text and Cases , London: Chapman & Hall.     

Book reviews

Book reviewed in this article Consumer Psychology for Marketing. Foxall, Gordon R. Goldsmith, Ronald E. London: Routledge. The Consumer Revolution: Redressing the Balance John, Robin (Ed.), in association with the Consumer Association. London: Hodder and Stoughton. Television and the Viewer Interest Jeremy Mitchell and Jay G. Blumler (Eds) London: John Libbey & Co.     

Forty-Eight Chinese Companies Listed in London Stock Exchange Market

A total of 48 Chinese companies have listed in London Stock Exchange market, said Alderman David Brewer, Lord Mayor of the City of London, in Beijing on September 6.     

Work-Related Stress: An Ethical Perspective

Work-related stress is too often neglected by employers and rarely seen as an ethical issue by them. Its moral implications are explored here by the Senior Corporate Policy Manager at City and Inner London North Training and Enterprise Council, 80 Great Eastern Street, London EC2A 3DP. Sue Bryan, M.A., A.M.I.P.D., is also completing an Executive MBA degree at London Business School.     

FOCUS: Synergy Between Creativity and Destructiveness in Competition

Creativity is a powerful determinant of all economic activity, including competition. But its mirror image may be destructiveness, which cannot be ignored, either in life or in business. In fact, the nature of competition appears to involve synergy between the two. The author has considerable business experience as a Senior Executive of a medium-sized textile group, and is now Visiting Lecturer in Social Ethics at Heythrop College, University of London, Kensington Square, London W8 5HQ. This paper was first presented at a Seminar on Teaching Business Ethics held at London Business School on Friday, 10 March, 1995.     

FOCUS: Teaching Ethical Business* Creating and Using Vignettes to Teach Business Ethics

Brief thumbnail sketches capture group interest and show the relevance of ethical considerations in real life situations. Bill Bain has considerable experience of business and is currently a PhD student at the Management School of London University's Imperial College, 53 Prince's Gate, Exhibition Road, London SW7 2PG.     

Codes of ethics in Australian business corporations

Current debate on business ethics in Australia continues apace as the excesses of the 1980s are exposed. Codes of Ethics have been a high profile instrument in the American business scene. A survey of Australia's largest business corporations reveals a different situation. Codes are not as commonly used, tend to refer to legal requirements and do not have as high a profile within the corporation. Given the changing legal framework in Australia a greater role for Codes of Ethics may emerge.Dr. Bruce N. Kaye is Master of New College, the University of New South Wales, (1983-) and Director of the New College Institue for Values Research (1987-). He was formerly Vice-Principal of St. John's College and University Lecturer in the Faculty of Divinity, University of Durham, U.K., Dr. Theol. University of Basel, BD London, BA Sydney, Research Fellow Deutche Akademische Austanchdieuste 1974, and a Member of the Australian Institute of Company Directors. His publications includeRight and Wrong at Work, Ethical Aspects of Labour Relations in Australia, Australian Youth and the Protestant Work Ethic.     

Vietnamese values,networks and family businesses in London

The article explores the so-called Confucian values associated by Hofstede and Bond (1993) with competitive advantage in business and investigates the role of ‘trust’ and ‘trusted networks’ amongst the Vietnamese of London. It investigates the extent to which distinctive cultural attributes can be detected in the ways this Overseas Vietnamese community has adapted to London, and how the Vietnamese either resemble or differ from another migrant community with whom they share a common history, namely the Overseas Chinese. The study explores the extent of Confucian influence on core values and how these may account for the relative success of Vietnamese businesses in London. The findings support the idea that the cultural inheritance of the Vietnamese has conferred a competitive advantage in business activity, but this is not exclusively Confucian.     

沪铜期货还是伦铜期货的影子市场吗?

期货价格波动往往从发达地区期货市场向其他地区期货市场传导,使得其他地区的期货市场类似于发达地区期货市场的影子市场.本文以次贷危机发生时间为界将整个检验周期分为四个子阶段,以伦铜连三和沪铜连三的收盘价数据为研究对象,分别选择各子周期最优Copula函数计算相关风险度量指标CoVaR,通过运用Copula-CoVaR模型来检验伦铜(LME)和沪铜(SHFE)期货市场之间的风险溢出关系,从而判断沪铜期货市场是否仍然是伦铜期货市场的影子市场.实证结果表明,伦铜和沪铜期货市场之间存在着积极的相互溢出效应,次贷危机后上海铜期货市场已经在一定程度上脱离了影子市场的范畴.     

FOCUS: Some Ethical Issues in British Insurance

Insurance is not well understood by most UK purchasers and many feel unease about it. Could this be partly due to the structure of the products on offer, and partly to the difficulties in obtaining good quality impartial advice? The author is Professor of Statistics, and a former Principal, at London Business School, Professor of Rhetoric at Gresham College, London, and a past President of the Institute of Actuaries.     

Salaries and promotion opportunities in the English banking industry, 1890–1936: a rejoinder

The article is a rejoinder to Andrew J. Seltzer's article, published in Business History in August 2010, which critiqued an article published in May 2008 on the topic of clerical salaries in London, 1870–1914. It examines trends in salaries and promotions of branch clerks at the London, County and Westminster Bank and at the National Provincial Bank, and focuses on the London area for the period 1880–1913. It argues that salaries increased between 1880 and 1895 and then declined from 1895 to 1913. Adjusting for tenure and inflation, salaries were approximately at the same level in 1913 as they were in 1880. It also examines the relationship between tenure and salary, linking both to the rise of internal labour markets in Britain's large retail banks.     

BOOK REVIEWS

A POSITIVE APPROACH TO THE INTERNATIONAL ECONOMIC ORDER, PART I: TRADE AND STRUCTURAL ADJUSTMENT, by Alasdair MacBean (London, Washington and Montreal: British-North American Committee, 1978) 61 pp., £1.75 and $3.00. A POSITIVE APPROACH TO THE INTERNATIONAL ECONOMIC ORDER, PART II: NON-TRADE ISSUES, by Alasdair MacBean and V. N. Balasubramanyam (London, Washington and Montreal: British-North Amercan Committee, 1980) 100 pp., £2.25 and $5.00. FARM AND FOOD POLICY: ISSUES OF THE 1980s, by Don Paarlberg (Lincoln: University of Nebraska Press, 1980) 338 pp., $16.50. ECONOMIC DISINCENTIVES FOR ENERGY CONSERVATION, by Joe W. Russell Jr (Cambridge, Mass.: Ballinger, 1979; and London: Harper & Row, 1980) 156 pp., $17.50 and £11.50. THE OIL INDUSTRY AND GOVERNMENT STRATEGY IN THE NORTH SEA, by φystein Noreng (London: Croom Helm, 1980; and Boulder, Colorado: International Research Centre for Energy and Economic Development, 1980) 268 pp., £14.95 and $21.95. SUBSIDIZED EXPORT CREDIT, by Joan Pearce, Chatham House Paper No. 8 (London: Royal Institute of International Affairs, 1980) 63 pp., £5.00. INVESTMENT AND DIVESTMENT POLICIES OF MULTINATIONAL CORPORATIONS IN EUROPE, by D. Van Den Bulcke, J. Boddewyn, B. Martens and P. Klemmer (Farnborough: Saxon House, in association with the European Centre for Study and Information on Multinational Corporations, 1979) 219 pp., £9.50. PUBLIC AND PRIVATE ENTERPRISE IN A MIXED ECONOMY, edited by William J. Baumol (London: Macmillan, 1980; and New York: St Martins Press, 1980) 308 pp., £20.00 and $40.00.     

Problems of Stakeholder Theory

Stakeholder theory diverts attention from creating business success to concentrating on who share its fruits. But what right have stakeholders to make the claims they do? Perhaps a new model is needed. T.F.J. Ambler is Grand Metropolitan Senior Research Fellow at London Business School, Sussex Place, Regent's Park, London NW1 4SA, where Andrea Wilson completed her MBA in 1993. She is now a consultant in New York.     

The Responsible Shareholder

There is confusion about the ethical responsibilities of shareholders, including institutions, but a cool look at clarity of purpose can do much to dispel it. The author is a working philosopher who was Lecturer and a Fulbright Fellow at the London School of Economics and spent fourteen years as an investment banker before becoming a writer and independent consultant. She has lectured on business ethics at the London Business School, and has completed her first City mystery novel, Making a Killing .     

Gambling And The UK National Lottery

The British National Lottery has now been running for almost three years and it arouses social and ethical misgivings in several quarters, whether in its contribution to the British gambling scene or in the size and distribution of its prizes or in its contributions to the good causes which it was introduced to benefit. Bringing wide experience and an expert eye to analyse and comment on the lottery, Dr Moore, DSc PhD FIA, is Emeritus Professor of Decision Sciences at London Business School, Sussex Place, Regent's Park, London NW1 4SA.     

Liquidity Constraints and Investment Opportunities: New Evidence from Large and Small Businesses in the UK

In this paper, we compare the liquidity constraints and investment opportunities for large and small businesses. This is done by examining the relationship between stock liquidity and investment opportunities in a sample of large and small enterprises listed on the London Stock Exchange. We find a positive statistical association between stock liquidity and investment opportunities, regardless of the size of the enterprise. This unique result in the London Stock Exchange suggests that firm size does not influence corporate investment decisions because there is no significant change in the cost of capital between large and small enterprises.     

Conflicting concerns over the privacy of electronic medical records in the NHSnet

The privacy and security of computerised medical data have become a major concern in Britain since the launch of the national electronic network for the National Health Service (NHSnet). A stakeholder analysis approach helps identify the wide range of the concerns which are involved, and this contributes to understanding the broader context within which technological developments take place and ethical concerns arise. The author is a member of the Information Systems Department of London School of Economics and Political Science [LSE], Houghton Street, London WC2A 2AE, England; email A.Pouloudi@lse.ac.uk     

Marketing Financial Services in London

ABSTRACT

Given the extremely csompetitive nature of the financial industry in London, England it is important to understand how to conduct a successful marketing effort. A look at various financial services firms in London, such as General Electric Corporation Global, Morgan Stanley Dean Witter, Fidelity Investment and government organizations including the Financial Service Authority and the Bank of England help to profile several methods available to help a global marketing effort. Innovative marketing performance tools such as Customer Advisory Boards, Sales Technology Tools, and other effective performance issues are examined.