Good or bad? The influence of FDI on productivity growth. An industry-level analysis

This paper attempts to reconcile the often inconclusive evidence on the role of FDI in the process of economic development by taking into account the heterogeneity both among industries and among countries. Using a comparable database at the industry level for 35 countries in the OECD, Asia and Eastern Europe from 1987 to 2002, we test for the influence of both stage of development and sectoral FDI patterns in the relationship between FDI and productivity growth. In certain industries and for the catching-up countries, a significant and positive relationship emerges when FDI coincides with high investment or export orientation.     

A brigade model for the management of service volunteers: lessons from the former Soviet Union

This is a case study of a volunteer programme in a community welfare centre in St Petersburg, Russia. It is suggested that the successful and long‐term activation of its 900 volunteers can be credited to the programme's structural and managerial characteristics. These include: a formal and hierarchical structure and management; clearly defined privileges and obligations; small working groups called ‘brigades’; a comprehensive support system for volunteers and a variety of volunteer opportunities and participation benefits. Advantages and limitations of the programme are discussed, as well as the applicability of some of its principles to other settings. The research demonstrates the importance of contextual and socio‐cultural variables to the debate on the relevance to volunteer work of managerial principles applied with paid employees. Copyright © 2004 Henry Stewart Publications     

INVESTORS' DIFFERENTIAL RESPONSE TO MANAGED FUND PERFORMANCE

Several studies measuring the flow of monies into and out of U.S. mutual funds note a convexity in the performance‐flow relation and offer several explanations for the apparent investor insensitivity to poor performance. In this study investor response to past performance is measured in a different setting: the Australian wholesale funds market. The results confirm that, like the U.S. mutual fund investor, institutional investors in Australia react to recent performance. However, a similar response asymmetry is not detected in most tests. Evidence that small, young funds are potential drivers of the asymmetric response effect is also provided. JEL classification: G10, G14     

Corporate environmental performance evaluation: evidence from the MEPI project

In recent years research has been rapidly and actively emerging on indicators of environmental performance in industry. Crucial issues are the kind of information that must be taken into account, is available and is relevant, as well as standardization and aggregation of such information. This paper reports on the experience gained in these matters, in the scope of a European Commission funded project involving seven research partners across Europe. Practical applications of the project cover six industrial sectors within six European countries. Exploiting the adopted indicators allows us to draw conclusions about the influence of various factors, including the national context, on environmental performance, and to provide both managers and decision makers with information that is useful for the overall improvement of environmental strategies and environmental regulation. Copyright © 2002 John Wiley & Sons, Ltd. and ERP Environment     

Uncertainty orientation: Expalaining diffeerences in purchase involvement and external search

This study incorporates uncertainty orientation, an individual difference variable concerned with cognitive response to uncertainty, and purchase involvement in a multiple indicator model of consumer external search activity. The model is tested using partial least squares in two contexts: for durable purchase decisions. Purchase involvement was found to be a multidimensional construct and only the experienced purchaserisk dimension was captured in the measurement models. For durables, uncertainty-oriented consumers experienced greater purchase risk and engaged in greater external seach than certainty-oriented consumers. For nondurables, uncertainty-oriented consumers experienced lower purchase risk than certainty-oriented consumers. Although the results are modest, they suggest that uncertainty orientation might be fruitfully examined in other applied contexts. © 1994 John Wiley & Sons, Inc.     

Smart Money and Small Funds

This study extends the literature on the relationship between recent performance and the movement of managed funds' assets by investigating the effects of fund size and age. The results confirm a size effect, as well as an age effect. Tests distinguishing between the two favor a size rather than an age interpretation. The evidence that flows of small funds are more sensitive to recent performance than flows of large funds is consistent with Gruber's (1996) notion of sophisticated investors using information in past performance to identify superior funds. Zheng's (1998) evidence that the good performers tend to be small funds suggests that the smart money should be following small funds, as confirmed in this study. Support for the 'smart money size effect' is also provided here with evidence confirming that small funds tend to be superior performers.     

Students' Perceptions of the Introduction of a Blended Learning Environment: An Exploratory Case Study

Virtual Learning Environments (VLE) provide the opportunity to deliver blended learning approaches that combine mixes of Information and Communications Technology (ICT) with various delivery methods and media. In 2008 and 2009, the University of Winchester in the UK redesigned a variety of accounting and financial management modules for presentation in a blended learning environment. An exploratory, qualitative case study investigated students' perceptions of the new approach. Through focus groups, students reported favourably on the blended learning approach and the views of students correlated with previous research, although there were some contrary findings. Focus groups raised issues concerning students' expectations, competence and engagement. Resources and institutional practices were identified as factors in students' attitudes towards blended learning. Issues about communication, student interaction and collaboration also emerged. Finally, some practical lessons from this case study are proposed.