Altruistic nonprofit firms in competitive markets: The case of day-care centers in the United States

Day care for young children is provided in the United States by a wide range of individuals and organizations, both for-profit and nonprofit, public and private. Some children receive direct public subsidies; others do not, but any type of center may, if it wishes, become eligible to accept subsidized children. How can such a heterogeneous industry structure persist? How well has this mixture of organizations and financing arrangements been in responding to the current growth in the labor force participation of mothers? Using cross-section state-by-state data, this paper provides evidence demonstrating that the industry is very responsive to demand conditions (e.g., the level of female labor force participation, the number of children in single-parent families), but that subsidy money is distributed across the nation in a way that bears little relation to the relative needs of the population. Furthermore, interstate differences in regulatory stringency affect relative costs and appear to limit supply where regulations are most restrictive. I also argue that the current mixed industry structure is stable. Many nonprofits provide high-quality services at low prices because they are managed by altruists and receive private donations. Such firms do not, however, take over the market because there are not enough altruistic managers or donors to go around. Instead they ration their supply and those who cannot be served turn to other parts of the market. The marginal producers, however, appear to be for-profits which respond to profitable opportunities by entry and expansion.     

Firm downsizing and satisfaction among United States and European customers

This study examines the impact that downsizing of suppliers' sales and support personnel has on business customers' satisfaction. The study investigates what influence cultural differences may have on business customers' evaluations of satisfaction with and loyalty toward downsized suppliers. Survey data collected from 435 purchasing professionals in the United States, France, and The Netherlands provide answers to these research questions. Findings indicate that business customers are not satisfied with downsized suppliers' performance. However the results relating to cultural influence are mixed. This report suggests possibilities for future research efforts in this area.     

Industrial Policy in the United States

Does US government policy purposefully benefit particular industries or is industrial policy absent in the USA? Based on a review of recent US policies this paper argues that the USA applies many policies with an industry-specific impact. But these policies do not differ significantly from those in other countries and the process in which US industrial policies emerge severely limits their consistency. What differentiates the USA is a microeconomic business environment that enables a high degree of regional specialization, benefits especially knowledge-driven industries, and raises the impact of innovation and entrepreneurship policies.     

中国与美国、加拿大报务贸易发展比较分析

随着世界经济重心向服务业倾斜,服务业在国民经济中的地位不断上升,促进和带动了服务贸易的快速发展。服务贸易已成为一国经济发展中新的增长因素,日益发挥着重要作用。中国服务贸易由于起步晚、基础差等因素导致发展仍相对滞后,与美国、加拿大在发展速度、贸易结构及法律政策完善程度等方面都存在较大差距。因此,为促进中国服务贸易发展,应充分发挥政府作用,加大对服务贸易的支持和保护,放宽市场准入,扩大对服务贸易领域的对外开放,积极开发新兴服务业,大力发展服务外包业,加快人才培养,提升服务业竞争优势。     

Supplier Selection Practices among Small Firms in the United States: Testing Three Models

One of the issues investigated in recent studies on small business enterprises involves the role of supply chain management. Supply chain management has become an important part of strategic planning in both large and small businesses in the 1990s as firms increasingly choose outsourcingas an externally-driven strategic growth path. This study examines the supplier selection practices among 78 small business executives in the midwest United States by testing three models: rational/normative, external control, and strategic choice. Although the results show support for all three models, the rational/normative model emerges as the most significant model for predicting the supplier selection practices of small firms.     

中国律师美国之行

熟悉WTO规则的八都知道这一点:WTO表面上看起来是政府间的协议,实际上在很大程度上体现的是各成员方企业和行业的利益,很多WTO纠纷实质就是成员方的企业之间对市场的争夺。所以,关于中国入世的话题,不应再停留在挑战、机遇及应对这些宏观层面的探讨上,而应进入指导企业如何实际操作中。而企业,尤其是大中型企业,有进出口业务的企业,在中国入世之后更需要WTO法律专家或律师的帮助。鉴于此,国家司法部、国家外国专家局于年前在10多万律师从业大军中,选拔出10名律师和7名法学院教师,首次赴美研修WTO争端解决机制。中国律师此行情况如何,他们给中国企业带来了哪些实质性东西成了业界关注焦点。     

Corporate Community Contributions in the United Kingdom and the United States

We address the issue of UK firms relatively poor record of corporate community contributions (CCCs) by subjecting them to formal comparison with those of US firms. To this end, we employ data on the top 100 UK, and top 100 US, contributors in 2001. Cross-country differences are described and discussed with reference to a stakeholder perspective on corporate social responsibility, and CCCs in particular. In this connection, we evaluate the role played by the sectoral composition of activities, as well as national, cultural and institutional factors. Our findings highlight a number of significant cross-country differences in the pattern of CCCs and suggest that UK and US firms operate within significantly different stakeholder environments.JEL Classification: M14Stephen Brammer is a Lecturer in Business Economics at University of Bath, with research interests in the area of corporate social responsibility. Much of his recent research has examined the stimuli for corporate socially responsive behaviour, the management of business social responsibilities, and the relationships between firm social performance and other dimensions of corporate performance. Recent publications include articles in the Journal of Management Studies, the European Management Journal and Business Ethics: A European Review.Stephen Pavelin is a Lecturer in Economics at the University of Reading, with research interests in foreign direct investment and corporate social responsibility. His current research agenda seeks to address: the effect of corporate social performance on the reputations and financial performance of firms; the incidence and quality of social and environmental reporting; demographic diversity (regarding gender and ethnicity) among corporate boards; and the effect of firms geographical diversification on their social performance. Recent publications include articles in the International Journal of Industrial Organisation, the Open Economies Review, the European Management Journal and Business Ethics: A European Review.     

Economics in Europe and the United States

Abstract

Business disciplines, including international business, are influenced by economics. This paper examines the facilitating role played by the English language in the dissemination of works in economics and attempts to show that authors who use English gain significant advantage over others. A look into the backgrounds of Nobel Prize winning economists and the predominance of American and British journals lend support to this view. Also, the overwhelming influence of quantitative neo-classical economics, which has gained great strength in the United States, seems to spread to the rest of the world. Still, international business is markedly different from economics not only in content but also in its relationship with other social sciences.     

Child-resistant cigarette lighters in the United States

Abstract

On July 12,1993, the U.S Consumer Product Safety Commission (CPSC) published a mandatory safety standard requiring disposable and novelty cigarette lighters to be child-resistant. Annually in the United States, children under 5 years of age playing with lighters cause more than 5,000 residential fires, resulting in approximately 150 deaths and more than 1,000 injuries. The standard is expected to prevent about 100 of those fire-related deaths each year. The standard includes labeling, testing, recordkeeping, and reporting requirements for manufacturers and importers. The standard applies to lighters manufactured in the United States or imported after July 11, 1994.

A study of actual child-play fire incidents was conducted as part of the initial work on the project to develop a safety standard. The major objectives of the study were:

1) to determine the age and sex of the children starting the fires, 2) to establish the methods the children used to operate the lighters, and 3) to identify the types of lighters involved. The study was conducted by CPSC field staff with the help of fire departments around the United States. Two hundred seventy-seven fires were investigated. Major findings of the study included

? Disposable butane lighters were involved in the majority of the fires.

? The children starting the fires were primarily 3 and 4 years old.

? Male children starting the fires outnumbered female children by a ratio of 4 to 1.

? Most children used two hands to operate the lighters.

Based on the analysis of the study results, the CPSC staff concluded that child-resistant lighters could be an effective means of addressing the risk of injury and death associated with child-play fires.     

Socially Responsible Investing in the United States

Socially responsible investing (SRI) has emerged in recent years as a dynamic and quickly growing segment of the U.S. financial services industry involving over $2 trillion in professionally managed assets. Its conceptual origins can be found in the early history of civilization, with it's modern roots in the 1960s. This paper provides an overview of the breadth and depth of the concept and practice of socially and environmentally responsible investing, describes the investment strategies that together define SRI as currently practiced in the U.S., offers several observations about some of the factors fueling its dramatic growth, and presents data showing that investors who choose to invest in a socially and environmentally responsible manner can do so without giving up investment returns. SRI has matured to a point where virtually any investment need can be met through portfolio design that integrates an investor's personal values, institutional mission, and/or social priorities.The socially responsible investment industry in the UnitedStates is a young phenomenon. Even referring to it as an "industry" ten years ago may have been a bit of a stretch. While it has grown dramatically in recent years, it is an area of work, of study and of practical application that continues to evolve in many significant ways.One intriguing example of the ongoing development of the field can be found in the analysis of the language used to describe it. The terms social investing, socially responsible investing, ethical investing, socially aware investing, socially conscious investing, green investing, values-based investing, and mission-based or mission-related investing all refer to the same general process and are often used interchangeably.     

Proprietorship and unemployment in the United States

Unemployment and proprietorship can be related in several ways. As unemployment increases, individuals with fewer job alternatives may choose to start their own business resulting in an increase in proprietorship. Alternatively, if an increase in unemployment is the result of a depressed economy, higher unemployment may lead to less demand for the products and services of proprietors, thus reducing proprietorship. Finally, greater proprietorship may lead to future increases in employment as these businesses grow. This can potentially reduce unemployment in the long run. We apply a panel vector autoregressive model to unemployment and proprietorship data from the U.S. states for the years 1976 to 2009 to examine if these effects are apparent in the data. We find that unemployment Granger causes proprietorship, but proprietorship does not Granger cause unemployment.     

Innovation investment,competitiveness, and performance in industrial firms

Intangible assets and research and development (R&D) expenditure are essential instruments in a firm's competitive productivity and profitability strategy. The relationship between productivity, tangible and intangible investments, and R&D expenditure has given rise to much analysis concerning the importance of the role played by intangible investment in the achievement of higher competitiveness. Using the Spanish database of the Fundación Empresa Pública‐Ministerio Industria (FUNEP) for the period 1991–2001, with an average of 1,800 firms per year taken from 20 industries and classified in six sectoral groups, we compare the possible relationship of the former variables with firms' profitability and productivity. The empirical results obtained show the importance of tangible investments and unit labor costs for achieving high productivity levels. R&D expenditure and intangible capital are shown to be complementary variables of the aforementioned aspects that have a delayed effect on the productivity and profitability of Spanish industries. The relevance of the prior variables differs according to whether we are referring to industrial sectors characterized by important economies of scale, intensive in capital or labor. © 2006 Wiley Periodicals, Inc.     

Market Price of Risk: A Comparison among the United States,United Kingdom,Australia and Japan*

This study examines and compares the market price of risk of the S&P 500, FTSE 100, All Ordinaries, and Nikkei 225 markets from 1984 to 2009 in the framework of Intertemporal Capital Asset Pricing Model (ICAPM). We follow the Vector Autoregressive instrumental variable approach in identifying the risk and hedge components of market returns and argue that in the context of market integration, covariance with a world market portfolio is a better measure of market risk than conditional market variance. Evidence is documented in support of using covariance as a risk measure in explaining market risk premiums in the Australian and Japanese markets. CAY, the consumption wealth ratio from the US market is found to be a robust state variable that helps to explain both conditional variance and covariance processes in the four markets. The market prices of risk, after controlling for the hedging demands, are positive and significant with the United States having the highest price of risk. The results are confirmed using a series of robustness tests that include varying the sampling interval.     

中国与美国、东盟出口商品结构的比较分析

本文对中国与美国、中国与东盟的出口商品结构进行了比较分析.美国作为最大的发达国家,东盟作为区域经济集团,中国与他们的出口商品结构有相同点,也有显著的不同点.为了能更加准确地反映双边贸易结构,本文分别分析了不同贸易方式下的商品结构,即在一般贸易方式下和进料加工贸易方式下中国与美国、中国与东盟的双边贸易结构.本文试图通过这种分析,对我国对外贸易战略决策的制定与实施有所帮助.