Is the influence of the industrial district on international activities being eroded by globalization?: Evidence from a traditional manufacturing industry

This study provides insight into the impact of industrial districts on the international activities of firms, in the particular context of one traditional manufacturing industry: the Spanish home-textile industry. Using a sample of 128 manufacturing firms, the paper shows how location influences the timing and levels of exports and imports. Moreover, our results demonstrate how these influences have been diluted in recent years as the home-textile industry becomes more involved in the global arena. Our findings challenge some key arguments exploring the advantages of the district in the international activities of firms; in particular, first, in questioning the capacity of the district to prevent international sourcing, and second, its vulnerability to the threats created by the growing integration of the world economy.     

Teaching the history of economic thought

The main purpose of this survey is to present the results of a questionnaire recently sent to historians of economic thought. This questionnaire — presented in the appendix - was devised so as to provide data on the approaches and experiences of teaching the history of economic thought in a wide range of universities throughout the world.

A summary of the most significant results is presented in section 2 of this survey. Section 1 provides a general introduction to the methodological context of the discussion of problems concerning the teaching of the discipline.     

Firm size and the demand for energy in Dutch manufacturing, 1978–1986

As in most other industrialized countries the oil price shocks in the seventies led to major rearrangements in the production processes in Dutch manufacturing. The substitution of (expensive) energy consuming processes by less energy intensive ones is analyzed by means of a dynamic equation, relating the energy demand to the level of output, the price of energy and the prices of other inputs. Using a rather unique data set, consisting of panel data pertaining to several thousands of manufacturing firms, it is found that large firms can reduce energy costs more than small firms.This article reports on research carried out in the MOPS-project. Participants of MOPS are the Netherlands Central Bureau of Statistics, the Research Institute for Small and Medium-sized Business in the Netherlands, and the Erasmus University Rotterdam. The views expressed in this article do not necessarily reflect the policies of the Netherlands Central Bureau of Statistics.The authors thank Bert Balk, Jos van Deventer, Peter Kooiman, Huib van de Stadt, Roy Thurik, Wim Vosselman, Ton Werkhoven and two anonymous referees for helpful comments.     

Internal validity assessment of conjoint estimated attribute importance weights

This paper investigates how various conjoint designs (full versus fractional) and estimation procedures (LINMAP, MONANOVA, OLS) may interact with basic characteristics of the “true” utility functions (i.e., their range, shape, and curvature) when estimating attribute importance weights. Substantial weight distortions are found, especially under a fractional design.     

A Model of Elitist Qualification

This paper deals with the collective qualification of members of society as belonging to a certain category or group based on a fixed attribute. Our model contains three main features: the existence of individual gradual opinions, the notion of elitism (only the opinions of certain individuals are taken into account to delineate the reference group), and the idea of sequentiality (elites are successively created by using the previous elites’ opinions on a social decision scheme). The main results of the paper characterize when this sequential procedure converges for some intuitive ways of aggregating individual opinions. Finally, we analyze the role of convergence for two extra basic properties (symmetry and contractiveness) that elitist rules should possess.     

In search of conclusive evidence: How to test for adjustment to target capital structure

Simulation experiments show that both partial-adjustment and debt-equity choice models can generate spuriously significant estimates that are consistent with the hypothesis that firms have target debt ratios to which they periodically adjust. Regressions relying on full-sample fixed effects models of target leverage, in particular, produce results severely biased in favor of the target-adjustment hypothesis. Various target proxies and modifications to the standard methodologies are examined to identify partial-adjustment and debt-equity choice models that have power to reject the target-adjustment hypothesis. The resulting estimates of the speed of adjustment are in the range of five-eight percent per year.     

Do stable strategic time periods exist? Towards new methodological and theoretical insights

This paper investigates a fundamental issue in the current research on strategic groups: the existence or non‐existence of the so‐called ‘stable strategic time periods’ (SSTPs). Our study provides new evidence by adding new methodological and theoretical insights. The research setting is the Spanish banking industry over a 15‐year period, 1983–1997. Unlike all prior longitudinal research that found SSTPs, the multi‐method procedure that we used in this study (i.e. equality of variance and covariance matrix and mean vector of strategic variables and a subsequent grouping analysis performed through the MCLUST) has led us to reject the existence of SSTPs in the industry under study. Based on these original findings, we conclude by suggesting a proposition which should be corroborated in future empirical studies on strategic groups. Copyright © 2007 John Wiley & Sons, Ltd.     

Subsistence agriculture and technological options

This is a modified version of a paper presented to the ‘Seminario Internacional sobre Tecnología para el Pequeño Agricultor’, held under the auspices of the IICA-lnstituto Interamericano de Ciências Agrícolas da OEA, Asuncion, Paraguay, 2–6 May 1977. The author wishes to thank Denisard C.O. Alves and Fernando B. Homem de Mello for their constructive comments.     

Elicitation of Expert Opinion in Benefit Transfer of Environmental Goods

Benefit transfer is a method for estimating the value of environmental goods that involves the use of past information on identical or similar goods. This paper considers the extent to which benefit transfer can be based on prior distributions elicited from expert opinion. We propose two alternative methods to elicit the parameters of a prior distribution from experts on environmental valuation. An experiment is carried out on the value of National Parks in Spain. The results from the elicited distributions are compared with the information provided by onsite samples of visitors. The results indicate that individual experts made different predictions about the potential value of the policy areas that were diverse and unable to accurately predict the value for each policy site. However, the average across the elicited distributions approaches the estimated distribution with empirical data and accurately predicts the relative values for the two policy sites considered.     

Retail profit margins in Japan and Germany

Retail Profit Margins in Japan and Germany. — This study compares the determinants of retail profit margins in Japan and Germany. Although several studies consider the peculiarities of the Japanese society and its economic structure, the comparison in this study is the first systematic, empirical analysis of the consequences of these characteristics for Japanese retail profit margins. For this purpose, two extensive data sets are used and a mark-up relationship is tailored to examine differences in Japanese and German retail profit margins. The empirical outcomes indicate that small firms can survive more easily in Japan than in Germany. This explains the abundance of small stores in Japan.