A note on the extension of tables for the Friedman statistic

Abstract  The tables for the Friedman rank-test arc extended using a sampling method. A table is given for the traditional significance levels .01, .025, .05 and .10 for number of blocks equal to 7 and 8 and for treatments of size 6 and 7. A brief discussion of available tables is also included along with an example of an application.     

Multimarket Contact and Rivalry over Knowledge‐based Resources

Research summary: Research shows that multimarket contact (MMC ) reduces rivalry involving downstream activities. Yet, studies showing that MMC can increase the threat of imitation suggest a need to better understand how MMC affects upstream rivalry over knowledge‐based resources. In this study, we argue that MMC increases rivalry over knowledge‐based resources since the deterrent threat of retaliation that typically leads to mutual forbearance in downstream activities will not be sufficient to restrain firms from protecting their knowledge from imitation in upstream activities. In support of these arguments we find that MMC increases the likelihood that a firm initiates patent litigation against a rival. This study suggests the relationship between MMC and rivalry may depend on the competitive domain and the type of resources over which firms are competing . Managerial Summary: How does market overlap or MMC affect rivalry between two competitors? Prior studies have largely found that an increase in market overlap decreases rivalry in less knowledge‐intensive context because of the deterrent threat of retaliation. However, in this paper, we argue that an increase in market overlap may not reduce rivalry in more knowledge‐intensive context because of heterogeneity in capabilities to protect knowledge. We find that a firm is more likely to initiate patent litigation against a rival as market overlap increases. Our findings suggest that the incentive to protect value across multiple product markets may surpass the motivation to cooperate with rivals and that managers should have a more nuanced view of how market overlap with competitors affects rivalry in more knowledge‐intensive contexts . Copyright © 2017 John Wiley & Sons, Ltd.     

The Behavioural Critique of Accounting

This note examines the implementation of the true and fair view requirement into the laws of Austria, Finland, Norway and Sweden. It builds on an earlier analysis of the 12 EU member states that had previously implemented the requirement. It is found that three of the four countries depart from the wording of the appropriate language versions of the Fourth Directive. Also, two of the countries do not implement the ‘override’, and the other two implement it in a way not done before, by reserving to the member state the specification of the allowed departures.     

Foreign banks in Japan: A study of a Japanese deregulation process

The deregulation of foreign banks in Japan, although corresponding in broad outline to world-wide trends, has diverged substantially in many particulars from patterns seen elsewhere. It has tended to be excruciatingly slow and piecemeal and to have been of minimal benefit to foreign banks. A review of this process leads to the conclusion that these characteristics result from organisational and political-bureaucratic factors inherent to the Japanese style of government which is, in turn, partially a reflection of Japanese culture. Although these non-economic factors have influenced the specific pattern of change, its overall direction appears to have been consistent with the broader national interest.The authors wish to acknowledge financial support from the Social Science and Humanities Research Council of Canada, the Florsheimer Center for Policy Studies, and the Krueger Center for Financial Research.     

Sources of Sectoral Growth in an Economy Wide Context: The Case of U.S. Agriculture

Growth in U.S. agriculture is linked to the non-farm economy through domestic terms of trade and factor market adjustments. With almost stable input growth, the relatively large contributions from growth in Total Factor Productivity (TFP) are passed on to intermediate and final consumers in the form of declining real prices for primary farm products. The resulting net growth in the real value of farm output (GDP) is relatively low (0.25% per annum). The decomposition of TFP suggests that public agricultural stock of knowledge and infrastructure are robustly associated with TFP growth, while spill-overs from private agricultural and economy wide research and development (R and D) are positive but, relatively small.     

Pay for Performance and Corporate Governance Reform

Directors’ pay and corporate governance continue to generate public outrage and calls for reform. Our meta‐regression analysis of all comparable UK pay‐for‐performance estimates finds little, if any, meaningful association between directors’ pay and corporate performance. However, there is evidence of the effectiveness of past “comply‐or‐explain” rules, especially the Cadbury Report. Unfortunately, the effects of past reform efforts tend to erode over time. This study also explores differences between pay–performance estimates, finding that these are largely explained by how pay and performance are measured by a given study.     

The application of Operation and Technology Roadmapping to aid Singaporean SMEs identify and select emerging technologies

In order to aid Singaporean SMEs identify and select emerging technologies for business benefit, a modified process of the Cambridge T-Plan methodology has been introduced and applied to a pilot sample of 30 companies in a variety of manufacturing sectors. This fast and simple process takes the company through five key steps to enable them to create their first Operation and Technology Roadmap (OTR). The paper explains the background to the approach and focuses on the initial benefits identified by a survey of the pilot companies.