A survey of the cost/managerial sequence in AACSB schools

The trend toward equal emphasis on financial and managerial accounting in the elementary sequence may have peaked in the seventies and is now moving toward an increased coverage of financial accounting. Textbooks utilized at the lower and upper division levels indicate that more attention is being devoted to the decision-making process.     

The role of money supply shocks in the short-run demand for money

Previous money-demand models are either inconsistent with contemporaneous adjustment of the price level to expected changes in the nominal money supply or imply implausible interest-rate fluctuations in response to innovations in nominal money. We propose a shock-absorber money- demand model in which money supply shocks affect the synchronization of asset transactions and so engender a temporary increase or decrease in desired money holdings. Expected changes do not engender such fluctuations in real money inventories. In simultaneous estimates for eight industrial countries, the shock-absorber model proved empirically superior.     

Achieving factory automation through Group Technology principles

This article illustrates the use of Group Technology (GT) principles for integrating the various elements of Computer Integrated Manufacturing (CIM). Several observations are made regarding the current state of batch manufacturing in the U.S. in light of these principles. Following a brief historical background, the various elements of GT are described as they occur in the manufacturing cycle. Since the main prerequisite to GT is part family identification, the various classification and coding systems for identifying part families, and also non-codification systems, are briefly described.The benefits of design rationalization and variety reduction are then explained in the context of CAD, CAM, and CAPP. Next, cellular manufacturing, currently the major problem area in the U.S. regarding GT, is discussed. The discussion includes new production technologies and concepts such as economies of scope. Materials management and operation scheduling are discussed next, highlighting the GT/MRP interface. The effect of GT and other new technologies on quality is then addressed and the significant impacts here are noted. Next, the effects on related areas such as personnel and accounting are described, including worker satisfaction, incentive schemes, and cost tracking.Last, an assessment of the current status of batch manufacturing is undertaken. Academic approaches, as well as industry crusades such as just-in-time (JIT) production, are reviewed and the current problems in adopting cellular layouts are addressed.     

International Cross-Listing and Order Flow Migration: Evidence from an Emerging Market

Policymakers in emerging markets are increasingly concerned about the consequences for the domestic equity market when companies list stock abroad. We show that the effects of cross-listing depend on the quality of intermarket information linkages. We investigate these issues with unique data from the Mexican equity market. The impact of cross-listing is complex—balancing the costs of order flow migration against the benefits of increased intermarket competition. These effects are exacerbated by equity investment barriers that induce segmentation of the domestic equity market. Consequently, the benefits and costs of cross-listing are not evenly spread over all classes of shareholders.     

Consumer protection in betting

Bettors have been virtually ignored by consumer protection bodies and interest groups. Since wagering contracts are unenforceable in British courts consumer law offers an unsatisfactory basis for bettor protection. The Gaming Board for Great Britain and its regulations offer the necessary protection to gaming consumers and betting needs to be brought under a similar regulatory authority. Draft regulations for this are proposed. They accord bookmakers the rights to engage or not engage in betting on any event from moment to moment and to offer any odds which they wish against the runners in the event. But these rights are subject to their being required, when they are betting, to display their odds, and take bets to a self-chosen amount to lose, on all runners in the event from any customer. They would also be required to display the price of a bet on the event with them in directly informative terms.

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Verbraucherschutz bei Wetten

Zusammenfassung In England sind Personen, die Wetten eingehen, von den Institutionen des Verbraucherschutzes im Grunde genommen völlig übersehen worden. Weil Wett-Verträge nach britischem Recht nicht einklagbar sind, gibt es kaum eine Basis für diese spezielle Form von Verbraucherschutz. Wohl aber bietet die englische Aufsichtsbehörde für das Spielwesen mit ihren Regelungen einen notwendigen Schutz für Personen, die spielen. Der Beitrag plädiert nun dafür, das Wett-Wesen in ähnlicher Weise einer Aufsichtsbehörde zu unterstellen wie das Spielwesen. Regelungen dafür werden vorgeschlagen.Danach sollen Buchmacher als Anbieter von Wett-Verträgen zwar eine weitgehend ungehinderte Möglichkeit haben, Wetten anzubieten. Diese Möglichkeit soll aber geknüpft sein an die Verpflichtung dazu, die Wettverhältnisse offen darzulegen, und an das Recht des Konsumenten, seinen Wetteinsatz selbst zu wählen oder zu bestimmen; außerdem soll kein Teilnehmer der Veranstalter, auf die sich die Wette bezieht, ausgeschlossen werden können. Schließlich müssen die Wett-Bedingungen in einer für jedermann verständlichen Weise offengelegt werden.

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Jack Dowie is Senior Lecturer in Social Sciences at The Open University, Milton Keynes, MK7 6AA, U.K. Mark Coton is a freelance writer on betting. His address is 4 Roymount Court, Lovelace Road, Surbiton, KT6 6NW, U.K. David Miers is Senior Lecturer in Law at Cardiff Law School, P.O. Box 427 Museum Avenue, Cardiff CF1 1XD, U.K.