Firm‐Level Evidence for the Language Investment Effect on SME Exporters

Both analysis of international trade and the knowledge resource theory of the firm imply that language skills should play a vital role in exporting. This may be apparent to large multinationals with sites in many different linguistic locations, but we show it is less obvious to smaller companies. With data on the language used by each of a large sample of European small‐ and medium‐sized enterprises in their export markets, we test and estimate the effects of language assets on language performance in export markets and on export sales. Controlling for the possibility that language skills may be acquired by exporting, we find a very substantial export return to linguistic expertise, indicative of unexploited gains from investment in languages. There is also evidence of greater under‐investment in language skills in English‐speaking Europe.     

Extreme divorce: the managerial revolution in UK companies before 19141

We present the first broadly representative study for any early twentieth‐century economy of the extent to which quoted company ownership was already divorced from managerial control. In the 337 largest, independent, UK companies in the Investor's year book (those with £1 million or more quoted share capital in 1911), the generality of public shareholders were a narrower group than today, but directors personally owned only 3.4 per cent of the shares. This indicates a lower level of personal ownership (and board voting control) in the largest securities market of the early twentieth century than in any of the world's major securities markets toward the end of that century. Berle, Means, Gordon, and others subsequently quantified the US's later and (on this dimension) less advanced managerial ‘revolution’. Their evidence was widely misinterpreted: some erroneously concluded that the US pioneered this aspect of ‘modernity’ and that the ‘divorce’ of ownership from control, globally, was a new and continuing trend.     

Interpreting DNA Evidence: A Review

The paper provides a review of current issues relating to the use of DNA profiling in forensic science. A short historical section gives the main statistical milestones that occurred during a rapid development of DNA technology and operational uses. Greater detail is then provided for interpretation issues involving STR DNA profiles, including:

• – methods that take account of population substructure in DNA calculations;

• – parallel work carried out by the US National Research Council;

• – the move away from multiple independence testing in favour of experiments that demonstrate the robustness of casework procedures;

• – the questionable practice of source attribution 'with reasonable scientific certainty';

• – the effect on the interpretation of profiles obtained under increasingly sensitive techniques, the LCN technique in particular;

• – the use of DNA profiles as an intelligence tool;

• – the interpretation of DNA mixtures.

Experience of presenting DNA evidence within UK courts is also discussed. The paper then summarises a generic interpretation framework based on the concept of likelihood ratio within a hierarchy of propositions. Finally the use of Bayesian networks to interpret DNA evidence is reviewed.     

Pricing incentives under price-cap regulation

In many price-cap regulation plans, such as those of AT&T and British Telecom, a weighted average of the prices for multiple services (baskets) must not exceed a specified level. This analysis demonstrates that the weighting scheme most commonly employed is subject to intertemporal manipulation. This investigation provides specific demand conditions under which weight manipulation can arise, shows the manipulation to reduce social welfare, and proposes a simple alternative weighting scheme that is less prone to manipulation. The alternative weighting scheme can help in designing more effective price-cap plans, especially if new plans have longer terms than current ones.     

Organizational commitment and service delivery: evidence from an industrial setting in the UK

In this paper the links between organizational commitment and the delivery of service quality are explored. Using data from a survey of contact-level employees within an industrial service organization, the hypotheses that the antecedents to service quality do indeed drive the service delivery gap, that there is a relationship between organizational commitment and service delivery and that the antecedents of the service delivery gap are related to organizational commitment are tested. All three hypotheses are accepted, although the link between organizational commitment and service delivery is not very strong. However, it is found that organizational commitment is strongly tied to role ambiguity and teamwork as antecedents of the service delivery gap.     

Market versus societal orientation in the nonprofit context

There has been considerable interest of late among nonprofit practitioners in market orientation and the extent to which its adoption might be linked to enhanced organisational performance. Preliminary studies have typically employed instruments such as MARKOR to measure market orientation in this setting and found tentative support for the existence of such a link. In this paper it will be argued that these approaches are fundamentally flawed. The market orientation construct represents the operationalisation of the marketing concept in the for‐profit sector. Since the concept is defined differently by nonprofit academics and practitioners there is a need to develop a new measure of its operationalisation specifically in this context. A review of the literature suggests that this might best be termed societal orientation. Copyright © 2001 Henry Stewart Publications     

A mixture of Gaussians approach to mathematical portfolio oversight: the EF3M algorithm

An analogue can be made between: (a) the slow pace at which species adapt to an environment, which often results in the emergence of a new distinct species out of a once homogeneous genetic pool and (b) the slow changes that take place over time within a fund, mutating its investment style. A fund’s track record provides a sort of genetic marker, which we can use to identify mutations. This has motivated our use of a biometric procedure to detect the emergence of a new investment style within a fund’s track record. In doing so, we answer the question: What is the probability that a particular PM’s performance is departing from the reference distribution used to allocate her capital? The EF3M algorithm, inspired by evolutionary biology, may help detect early stages of an evolutionary divergence in an investment style and trigger a decision to review a fund’s capital allocation.     

Toward a national food policy for the USA

This special report discusses the need for a national food policy in the USA. Based on a speech¹ made by Carol Tucker Foreman, Assistant Secretary, Food and Consumer Services, of the US Department of Agriculture (USDA), it is part of an ongoing debate in that country. Assistant Secretary Foreman made the speech at the Food and Agricultural Outlook Conference sponsored by the USDA in Washington DC, 14–17 November 1977. The views presented here are not an official US government statement, but rather one part of an important policy making process. FOOD POLICY welcomes submission of other opinions on the question of a food policy for the USA, or for any other nation.     

Response to Edwards and Ogilvie

Our article on ‘Late marriage as a contributor to the industrial revolution in England’ is intended to show that the evidence is consistent with the European marriage pattern being a major influence on long‐run English economic development, through the accumulation of human capital, broadly defined. Edwards and Ogilvie assert that our approach is inadequate because, they claim, we consider neither other influences on English industrialization, such as non‐familial institutions, nor other European economies where marriage age was high throughout the early modern period but where industrialization came later. We do allow for other influences on English industrialization in our model, and the observation that some late industrializers had later marriage than England does not refute our contention, which we test appropriately by simulating the model.     

Farmers’ Willingness to Participate in Payment‐for‐Environmental‐Services Programmes

Understanding farmers’ willingness to participate in agricultural payment‐for‐environmental‐services (PES) programmes is an essential precondition for designing effective and efficient programmes. Willingness to participate is typically examined via stated preference surveys using the standard hurdle model for whether and how much to participate. Among respondents who decline to participate, such analyses cannot distinguish between respondents who declined due to the payment level and those who were not interested at all. This paper applies a double hurdle model to incorporate a prior condition for whether a respondent is even willing to consider participating in the PES market. The model uses a unique stated preference survey permitting separation of the consideration and enrolment decisions of 1,700 farmers in Michigan, USA. The first hurdle probit model suggests that farmers’ willingness to consider PES chiefly depends on farm and farmer characteristics, while the second hurdle tobit model shows that decisions on whether and how much to enrol depend more on the payment offer and marginal benefit–cost criteria. This study provides fresh insights on facilitating farmer participation in PES programmes using tiered strategies that differ in costs of programme payment and administration.