Book Reviews

Book Reviewed in this article: Multinationals as Moral Agents George Goyder Meeting Customer Expectations Sheila M. Evers E PLURIBUS UNUM?! Tim Traverse-Healy The Impacts of Tourism Marion Wheeler     

Book Reviews

Book reviewed in this article: Duncan, Greg J., et al. Years of Poverty, Years of Plenty–The Changing Economic Fortunes of American Workers and Families David B. Eastwood. The Economics of Consumer Behavior Murray, Charles. Losing Ground: American Social Policy a1950–1980 Maital, Sharone and Shlomo Maital. Economic Games People Play Pitts, Robert E., Jr. and Arch G. Woodside (eds.). Personal Values and Consumer Psychology Ester, Peter et al. Consumer Behavior and Energy Policy: Selected/Edited Proceedings of the Ist International Conference     

Book Reviews

No abstract available for this article.     

Book Reviews

No abstract available for this article.     

Book Reviews

Book Review

Book Reviews     

Book Reviews

This study examines whether the restaurant food expenditure patterns of two-earner Canadian households are consistent with a hypothesis that restaurant meals are convenience rather than luxury items. Results of the study indicate a positive relationship between the proportion of total food expenditures allocated to discretionary restaurant meals and the wage rates (value of time) of both the household head und spouse and a negative relationship between proportionate restaurant food expenditures and unearned income. Both results support the hypothesis. The study also examines relationships between proportionate restaurant food expenditures and a set of household characteristics variables.     

Book Reviews

Books reviewed: MARCUS HAACKER (ed.), The Macroeconomics of HIV/AIDS. C. FRED BERGSTEN and JOHN WILLIAMSON (eds), Dollar Adjustment: How Far? Against What? EILÍS FERRAN, Building an EU Securities Market. GARY S. FIELDS and GUY PFEFFERMANN (eds), Pathways Out of Poverty: Private Firms and Economic Mobility in Developing Countries.     

Book Reviews

In a world of limited resources, marketing managers tasked to deliver shareholder value face decisions about how to maximise the returns on their marketing portfolio. Risk is less often considered. In finance the picture is very different; financial portfolio management is concerned with both risk and returns. The central innovation in this paper is the application of modern portfolio theory (MPT) to the management of marketing portfolios in food retailing and in drinks manufacturing. The authors develop a model that calculates an efficient frontier of marketing portfolios that maximise overall return within certain risk constraints, first for a simple two-segment marketing world and then for a more realistic multi-segment portfolio. However, marketing portfolios differ from financial ones in the sense that the allocation of marketing spend affects the returns from the portfolio. Therefore, a second innovation, an extension of MPT to take account of marketing spend allocation decisions, has been developed. Using this model, marketers can determine the risk and the returns of marketing investments, helping them select an optimal portfolio. This would go some way to ensuring that marketing contributes to shareholder value creation, currently one of its major challenges.     

Book Reviews

Caves, Richard E., and Associates, Industrial Efficiency in Six Nations, Cambridge, MA: MIT Press, 1992, xii + 492 pages.

National Research Council, Panel on Foreign Trade Statistics, Behind the Numbers: U.S. Trade in the World Economy, Washington, D.C.: National Academy Press, 1992, xi + 297 pages.

Fischer, Klaus, and George J. Papaioannou (eds.), Business Finance in Less Developed Capital Markets, Westport, CT: Greenwood Press, 1992, xi + 391 pages.

Krugman, Paul R., Currencies and Crises, Cambridge, MA: The MIT Press, 1992, xix + 219 pages.

Howell, Thomas R., Alan Wm. Wolff, Brent L. Bartlett, and R. Michael Gadbaw, Conflict Among Nations: Trade Policies in the 1990s, Boulder, CO: Westview Press, 1992, xiv + 633 pages.

Starr, Martin K., Global Corporate Alliances and the Competitive Edge: Strategies and Tactics for Management, New York: Quorum Books, 1991, xiii + 236 pages.

Liesch, Peter W., Government Mandated Countertrade, Aldershot, England: Avebury, 1991, xv + 172 pages.

Kotabe, Masaaki, Global Sourcing Strategy: R&D, Manufacturing, and Marketing Interfaces, New York: Quorum Books, 1992, xviii + 237 pages.     

Book Reviews

Adjusting to Policy Failure in African Economies, DAVID E. SAHN (ed.) (Ithaca, london, Cornell University Press, 1994), pp. xiv and 421, £41.30 hardback, £16.50 softback, ISBN 0 8014 8136 8. Economic Crisis in Africa, Perspectives on Policy Responses, MAGNUS BLOMSTRÖM and MATS LUNDAHL (eds.) (London, New York: Routledge, 1993), pp. xiii and 353, £45.00 hardback, ISBN 0 415 09629 4. Labour and an Integrated Europe, LLOYD ULMAN, BARRY EICHENGREEN and WILLIAM T. DICKENS (eds.), (Washington DC, Brookings Books, 1993), pp. viii and 295, US $36.95 hardback, US $16.95 softback, ISBN 0 8157 8682 4 and 0 9157 8681 6. The Political Economy of Policy Reform, JOHN WILLIAMSON (ed.), (Washington, Institute of International Economics, 1994), pp. 596, £19.99 softback, ISBN 0 88132 195 8. Human Development Report 1994, THE UNITED NATIONS (Oxford, New York, Oxford University Press, 1994), pp. xi and 226, ISBN 0 19 509170.     

Book Reviews

Trade and Growth: New Dilemmas in Trade Policy by MANUEL R. AGOSIN and DIANA TUSSIE (eds.) (Basingstoke: Macmillan Press, 1994), pp. xvii & 296, ISBN 0 333 59918 7. Reviving the European Union by RANDALL C. HENNING, EDUARD HOCHREITER and GARY CLYDE HUFBAUER (Washington: Institute of International Economics and The Austrian National Bank, 1994), pp. 176, US $25.00, £14.99 softback, ISBN 0 88132 208 3. Policy Issues in the Operation of Currency Unions by PAUL R. MASON and MARK P. TAYLOR (eds.) (Cambridge, New York: Cambridge University Press, 1993), pp. xiv & 310, ISBN 0 521 43455 6. World Without End: Economics, Environment and Sustainable Development by DAVID W. PEARCE and JEREMY J. WARFORD (Oxford, New York: Oxford University Press, 1993), pp. xi & 440, ISBN 0 19 520881 1.     

Book Reviews

Books reviewed: Thomas F. Cargill, Michael M. Hutchinson and Takatoshi Ito, Financial Policy and Central Banking in Japan Klaus Günter Deutsch and Bernard Speyer, The World Trade Organization Millennium Round – Freer Trade in the Twenty‐first Century Lonnie Golden and Deborah M. Figart (eds.), Working Time, International Trends, Theory and Policy Perspectives G. Cornelis van Kooten and Erwin H. Bulte, The Economics of Nature: Managing Biological Assets     

Book Reviews

In-migrants played an important role within port-city merchant communities, but the contribution of German-born merchants to Liverpool's development in the nineteenth century has been largely ignored. This article has four interrelated objectives. First, it establishes the size and composition of the German merchant community in terms of the place of birth, occupational classification, length of residence, and relative wealth of German-born merchants. Secondly, it measures the degree of acculturation and integration based on a range of indicators including choice of bride, child- and house-naming practices, the employment of fellow nationals, and the acquisition of British citizenship. Thirdly, it analyses their role within Liverpool society, focusing on their involvement in the city's associational networks, their participation in voluntary and charitable associations, and their entertainment profile. Finally it assesses how the growth of German nationalism after 1871 and the institutional role of the German Protestant Church reinforced ethnic identity, influenced decisions relating to citizenship and settlement, and affected business networking.     

Book Reviews

When the Great Northern Telegraph Company in 1913 bought the exclusive rights to exploit the Valdemar Poulsen Arc Transmitter it was not because the company wanted to take advantage of wireless telegraphy. Instead the company decided not to develop or implement the arc transmitter – a decision that has been described as a ‘wasted opportunity’. This article, however, explores the behaviour of Great Northern and argues that there was little else the company could have done because of the structure of international telegraphy. Great Northern reacted as all other cable companies, and in this context the case of the Danish telegraph company is not just about the behaviour of one single firm. Rather, the case reveals important aspects of the business structures of international cable telegraphy and helps us to understand how one of the world's most powerful industries was brought to its knees by a new technology.     

Book Reviews

Economic Transformation in Central Europe, A Progress Report, by RICHARD PORTES (ed.) Foreign Investment in Eastern Europe by ZBIGNIEW DOBOSIEWICZ Discrimination Against Agriculture in Developing Countries? Institut für Weltwirtschaft an der Universität Kiel No. 243, by MANFRED WIEBELT, ROLAND HERRMANN, PATRICIA SCHENCK and RAINER THIELE Assessment of Benefits of Environmental Measures by O.J. KUIK, F.H. OOSTERHUIS, H.M.A. JANSEN, K. HOLM and H.-J. EWERS The Least Developed and the Oil-Rich Arab Countries by KUNIBERT RAFFER and M.A. MOHAMED SALIH Imperfect Competition and International Trade by GENE M. GROSSMAN (ed.) European Monetary Union, Lessons from the Classical Gold Standard by M. PANIC The inclusion of a book or a publication in this list does not preclude publication of a note or review in a future issue of the Journal     

Book Reviews

Books reviewed in this article: Trade Negotiations in the OECD, Structure, Institutions and States by DAVID J. BLAIR The North American Free Trade Agreement: Assessing the Impact by NORA LUSTIG, BARRY P. BOSWORTH and ROBERT Z. LAWRENCE (eds.) Economic Aspects of North-South Interaction by SYED MANSOOB MURSHED International Organizations Series: Volume 4 International Monetary Fund by ANNE C. SALDA Structural Adjustment in a Newly Industrialized Country, lhe Korean Experience by VITTORIO CORBO and SANG-MOK SUH (eds.)