The ‘New Competition’ and Working Time

Jill Rubery, who is Senior Lecturer at the Manchester School of Management, and Sara Horrell, Lecturer in the Faculty of Economics, University of Cambridge, draw on a study for the Equal Opportunities Commission to discuss the significance of the competitive conditions said to lie behind changes in working time. They argue that the existing approaches to understanding these changes – they are ‘determined’ by the ‘market/technology’ or relate to a redefinition of power relations within the workplace – are both inadequate. What is required, they suggest, is a more complex analysis of competition which takes into account both the factors that shape market conditions and the factors inside the organisation that influence responses to them.     

Inter-organizational Relations and Employment in a Multi-employer Environment

This study focuses on the employment dimensions of inter‐organizational relations, taking as an example a large regional airport. The dense and complex relationships that emerge in a multi‐agency setting are highlighted to illustrate the tensions and contradictions that characterize the management of workers in an environment where contracting and recontracting predominate. These findings suggest that there is a need, on the one hand, to include inter‐organizational relations in the study of the employment relationship and, on the other hand, to reinsert employment issues into the analysis of inter‐organizational contracting and partnerships.     

The IASC And Japan

The support of Japan, as a powerful nation and world leader, will be critical to the International Accounting Standards Committee (IASC) in its aim of promoting the harmonisation of international accounting standards. Japan represents a substantial challenge to the IASC objective; cultural and institutional factors have been regarded as impediments to its preparedness to adopt IASC standards. As deputy chairman of the IASC, the co-author of this paper, Michael Sharpe, has been involved in a number of seminars and discussions in Japan relating to the IASC activities and aims. This paper draws on those discussions, and on recent events and developments in Japan, to suggest that relations between the IASC and Japan are heading in the right direction and to make some prognoses about the acceptance of IASC standards by Japanese regulatory bodies.     

VOLUNTARY DISCLOSURE OF SEGMENT INFORMATION BY AUSTRALIAN DIVERSIFIED COMPANIES

This paper reports an examination of economic incentives motivating listed diversified companies in Australia to voluntarily disclose segment information. The study is based on a sample of 65 listed diversified companies. Support is found for ownership diffusion, the level of minority interest in subsidiaries, firm size and industry membership as factors influencing the voluntary disclosure of segment information. No support is found for leverage or diversification into related versus unrelated industries.     

The accuracy of changes of urban land values as a measure of social benefits from public programs

This paper extends the standard model of urban land rent to consider the impact of the output of public programs on the spatial equilibrium and to analyze the accuracy of changes of urban land values as a measure of social benefits from public investment. Two consistent output indicators of public investment are advanced: the individual's welfare and total land values. The general results of the comparative analysis are that there is a lack of correspondence between both output indicators, and that changes in land values are, in general, not an accurate measure of the benefits of such programs.     

Ownership and Performance in a Lightly Regulated Environment

This article examines the relation between ownership and performance for New Zealand electricity lines firms over the period 1998 to 2006. The sample is of interest because it represents all firms within a single product industry (local electricity distribution), which is a natural monopoly subject to a light‐handed regulatory regime. Thus we are able to examine the theories of ownership on performance, while controlling for regulation, industry, product market competition, accounting methods and other factors that might impact profitability, such as network reliability and network density. The results suggest that listed firms have similar profitability to council‐owned firms and both listed and council‐owned firms outperform trust‐owned firms. The likely reason for the poorer performance of trust‐owned firms is that they have different agency costs than listed and council‐owned firms and the trustees have lower responsibility than directors. Hence, they have lower incentives to be profitable.     

Differentiating the consumer benefits from labeling of GM food products

Although recurrent evidence is found that consumers have different willingness to pay for GM and non-GM products, there is disagreement in the scientific community about the size of consumer benefits from GM labeling. In this article we use a theoretical model based on a standard constant elasticity of substitution (CES) to explain the importance of the quality effect. It is shown that failing to consider the quality effect may yield an overestimation of benefits from GM labeling, voluntary or mandatory.     

Improving value transfer through socio‐economic adjustments in a multicountry choice experiment of water conservation alternatives

This study tests the transferability of the nonmarket values of water conservation for domestic and environmental purposes across three south European countries and Australia applying a common choice experiment design. Different approaches are followed to test the transferability of the estimated values, aiming to minimise transfer errors for use in policy analysis, comparing both single‐ and multicountry transfers, with and without socio‐economic adjustments. Within Europe, significant differences are found between implicit prices for environmental water use, but not for domestic water use. In the Australian case study, alleviating restrictions on domestic water use has no significant value. Pooling the three European samples improves the transferability of the environmental flow values between Europe and Australia. Results show that a reduction in transfer error is achieved when controlling for unobserved and observed preference heterogeneity in the single‐ and multicountry transfers, providing additional support for the superiority of socio‐economic adjustment procedures in value transfer.     

Policy borrowing: lessons from European attempts to transfer training practices

Globalisation has provided an impetus to the borrowing of policies and ‘best practices’ between countries. This article looks specifically at such borrowing in the field of Continuing Vocational Training (CVT). Using case study data drawn from a wider evaluation of a European programme, the FORCE programme, it illustrates some of the barriers encountered when attempting to transfer training principles, practices and delivery systems from one country to another, focusing on structural and institutional factors rather than cultural ones. While acknowledging the importance of ‘learning’ at a broader level, the article argues that ET systems are embedded within a wider societal, institutional and cultural context that limits the success of transfer.