Reflexivity,stress, and unlearning in the new product development team: the moderating effect of procedural justice

The success of new product development (NPD) depends on a team's abilities to integrate, build, and reconfigure internal and external competences and the flexibility to address rapidly changing environments. To develop innovative products it is desirable that these processes should not be constrained by current beliefs and routines. NPD teams therefore need to engage in an unlearning process to overcome any resistance to new ideas and to facilitate a fresh approach. The paper recognizes that the controlled experience of stress plays a part in unlearning (e.g., confusion about technology or market change can encourage changes) and argues that teams should systematically reflect on the progress they are making in projects and in unlearning. The fairness of procedures used by the management moderates the proposed relationships. Two hundred and ninety eight team members and 77 NPD team leaders participated in the study. The results indicate that team reflexivity positively influences unlearning and product innovation, while team stress has a negative effect. The perceived fairness of management procedures strengthens the positive effects of team reflexivity on unlearning and product innovation, and reduces negative effect of team stress.     

MEASURING NEW ZEALAND'S GDP 1865–1933: A COINTEGRATION-BASED APPROACH

Official and semi-official estimates of New Zealand's national income are available on an annual basis for the years since 1932. Retrospective, non-official, estimates are available from 1859. Chiefly these are constructed following Doblin's (1951) pioneering use of money stock data, velocity, and the implications of the Quantity Theory of Money, and include the estimates of Hawke (1975), Rankin (1992) and Cashin (1995).
This paper estimates New Zealand real GDP per capita with monetary data using valid, intervention-free, cointegration methods. The new measures avoid the ad hoc adjustments found in Rankin (1992), yet unlike Cashin (1995), they incoporate specific New Zealand monetary features. The new time series conform well with independent benchmarks and the historiography of the pre-1914 period. Alternatively, they suggest an interpretation of New Zealand's growth experience for years around World War One which differs from that of Australia, and from the findings of Rankin (1992) and Cashin (1995).     

A pulse check on recent developments in time series econometrics

This article motivates and summarizes the contributions of the special issues on Recent Developments in Time Series Econometrics.     

The role of the tour operator in South America: Argentina,Chile, Paraguay and Uruguay

The role of the tour operator in the supply chain has focused traditionally on the dominant position of companies situated in the generating countries of Europe and North America; despite recognition of the tour operator located in emergent receiving countries, the area has not been discussed extensively. This paper investigates the opinions of 37 tour operators in four emerging countries in South America, with a view to evaluating the nature and level of contact with foreign tour operators and suppliers. It assesses the degree of internationalisation that occurs, and the extent to which tour operators are involved in the process of tourism development. The paper confirms the role of the receiving tour operator within the distribution chain, but concludes that in terms of stimulating tourism development there is a need for more research into the relationships between government and the wide range of organisations involved in the process. Copyright © 1999 John Wiley & Sons, Ltd.     

The future of walking in Europe: a Delphi project to identify expert opinion on future walking scenarios

There is increasing recognition of the importance of walking to the sustainability of cities, set against a continuing decline in everyday walking. This paper reports on a research project, which predicts trends in walking in Europe by 2010 by seeking opinion of experts who are knowledgeable about non-motorised transport. There is a consensus that there will be more walking for leisure and health, but less everyday walking. This will happen despite walking being seen as more important and there being more facilities, infrastructure, information and funding for walking.     

Involuntary corporate finance: the dominance of history in decisions

Lagged values of corporate finance decisions are known to be economically important, but most analyses ignore them. This article examines the influence on five key financial decisions of previous decisions using a data set that includes industry census data. It finds that lagged values explain between 25% and 36% of decisions on leverage, payout and investment, which gives them strong predictive ability. In regression of these decisions on firm and industry traits, omission of lagged values leads to a change of around one-third in parameter estimates, and so significantly overstates their impact. The influence of lagged values persists, and for most decisions is significant for several years. Given the stickiness in financial decisions, there are potentially significant analytical problems from ignoring their lagged values.