The influence of demand and supply side pressures on the quantity and quality of inventive activity

This article arguments the literature on the demand for professional team sports by estimating a demand function for attendance at home matches in the Malaysian Semi-Pro Football League (MSPFL) between 1989 and 1991. A single-equation demand (attendance) function based on a pooled cross-section and time-series panel data set of 399 games is estimated by ordinary least squares, a fixed effects dummy variable covariance model and an error components model. Our findings confirm the importance of market size and championship prospects for the home team (but not the visiting team), as well as divisional status and ‘star’ players. The first match of the season and derby matches also increased attendance.     

Strategy analysis in the health service

The operation of provider units, both NHS Trusts and Directly Managed Units, as competitive organizations in the market place, is as yet rudimentary. Although some have achieved notoriety through radical “business” behaviour, there is little evidence that they have adopted scientific business practices in order to strengthen or re‐orientate their position in the market place. Neither is there as yet any hard evidence that such behaviour would be beneficial in the long term.

This paper describes an exercise of strategic market analysis used as a device to lead and inform the business planning process for an NHS Trust. The primary objective of the analysis is to identify hitherto unrecognized strategies which would enhance the position of the organization in the market place and also to identify areas where business development is possible and desirable.     

Block grant: The story of a failure

The Government's proposals for the reform of local government finance should primarily be evaluated in terms of their impact on the efficiency and accountability of local budget‐making. Criticisms of their distributional implications are largely beside the point.     

Donor Funding of Multilateral Aid Agencies: Determining Factors and Revealed Burden Sharing

This paper reports an empirical study of the factors affecting burden sharing among OECD's 22 DAC members in ‘bankrolling’ the multilateral aid agencies. Annual data over 1970–2000, pooled across the donor countries, form the basis for the empirical estimation of each donor's share in the ODA aid receipts for each multilateral agency. Our findings suggest the existence of reverse exploitation, i.e., the financial burden of the agencies is disproportionally carried by the smaller donors. The study also finds that factors such as inherent donor generosity, donor concern for domestic egalitarianism, and the extent to which donors are pro‐poor in their bilateral aid policies have an impact on their readiness to support multilateral agencies financially. Size of the donor government and its budgetary balance positively influence burden sharing of contributions to other multilateral agencies. But neither the phase of economic cycle nor the rate of economic growth affects the burden‐sharing responsibility of donors. It was also observed that contributions by EU members to the EC do not appear to crowd‐out their contributions to other multilateral aid agencies and that right‐wing donor governments are generally more parsimonious with regard to financial assistance to multilateral aid agencies. The preferred alternative, particularly among EU member countries, appears to be the EC.     

Back to literacy

One of the seminal works in the development of British cultural studies was Richard Hoggart's The Uses of Literacy , in which he presents a vision of working class communities in the 40 years since the First World War. To do this he drew particularly on his experiences of Hunslet in South Leeds. In this paper we revisit South Leeds 40 years on to examine continuities and changes in the community as evidenced through people's leisure and compare this with Hoggart's analysis. To do this we have drawn on census and other official statistics and our own observation and interviews in the field. In order to interpret today's communities in South Leeds we make use of theoretical developments in the interim. We suggest that in what Bauman (1997) refers to as ‘two nations society mark two’ people try to reinvent community and it is through leisure in particular that this is evidenced. We therefore conclude that any attempt to understand ‘community’ at the millennium must place leisure centre stage.     

Voluntary disclosure practices by foreign firms cross-listed in the United States

This is one of the first large-scale studies to examine the voluntary disclosure practices of foreign firms cross-listed in the United States. We proxy for voluntary disclosure using three attributes of firms’ management earnings guidance: (1) the likelihood of issuance; (2) the frequency of earnings guidance; and (3) a guidance quality measure. After first establishing that market participants view these firms’ disclosures as credible and economically important (i.e., the disclosures are negatively related to analyst forecast errors and the implied cost of equity capital), we compare cross-listed firms’ disclosure practices with comparable US firms and explore variations in disclosure practices among cross-listed firms. We find that cross-listed firms issue less frequent and lower quality management earnings guidance than comparable US firms. We further show that the gap between US and cross-listed firms widened after passage of Regulation FD, a regulation which induced greater public disclosure of firm-specific information. Focusing on the sample of cross-listing firms, we show that firms from common-law countries disclose more than firms from code-law countries. Finally, our results indicate that cross-listed firms that do not list on an organized US exchange provide more frequent and higher quality disclosure than those that do list on organized exchanges.     

Book reviews

Quality & Quantity -     

Prediction from binary choice models: A note

The results of Westin (1974) can be obtained, to a satisfactory approximation, without recourse to numerical integration. We also show how to attach a standard error to his point estimates.