Investors in People: how a large public sector organisation in the UK dealt with a new national training initiative

This research constitutes a study of the Investors in People (IIP) initiative. It presents a case study of the implementation of the initiative in a UK public sector organisation, the Bene‐fits Agency, which administers social security payments on behalf of the UK government. The initial premise is that the claims made on behalf of IIP should not go unchallenged and that a critical analysis of the initiative is required in order that an informed debate should take place. Building on that premise the research seeks to inform that debate. The relevant literature, academic and non‐academic, is surveyed and a discussion on the most suitable research methodology to increase the stock of knowledge is conducted. The selected methodology is that of case study and the research consisted of eleven semi‐structured interviews with managers within the Benefits Agency. The data collected from these interviews is presented and then analysed with reference back to the literature.     

Chinese IPO activity,pricing, and market cycles

We examine the activity, pricing, and market cycles of 1,380 Chinese A share IPOs over the period 1991–2005 and find initial underpricing of 238%. The government restrictions on IPO offer price and quota allocation cause pricing structural breaks and attribute more than half of initial underpricing. A multifactor model that includes firm’s characteristics, excess demand for IPO shares, and the government restrictions explains cross-sectional initial returns, after controlling for industrial differences and stock market conditions. In addition, monthly IPO volume and average initial return are highly correlated. A VAR model indicates that initial return leads IPO volume by 6 months.     

Management Control Systems in a Non-Enterprise Network: The Greenhouse Gas Protocol Initiative

This article is based on the action research project of a multi-stakeholder collaboration formed to produce the Greenhouse Gas Protocol. This non-enterprise cross-sector collaboration had two sets of problems: the first being the ideological differences of the stakeholders, who had differing interests and agendas regarding the production of standards. The second set relates to the practical problems of enabling 300 people from different organisations and time zones, with different levels of resource access and no clear financial goal or endpoint, to work together. To overcome these issues three types of management control systems were developed: strong planning processes, administrative and governance structures, and socio-ideological controls. The result of the collaboration is a set of greenhouse gas accounting standards that have widespread acceptance internationally. This study contributes to both practice and research on management control systems (MCS) by outlining how alternative forms of MCS can be designed for non-enterprise cross-sector collaboration.     

Misunderstood and Undervalued? Personnel Management In Construction

Janet Druker and Geoffrey White, principal lecturer and senior lecturer respectively in the Business School at the University of Greenwich, draw on interviews and on a postal survey of personnel managers in the construction industry, to consider the role and responsibilities of personnel practitioners in construction. They point to the changing balance of employment within the construction firm and the greater involvement of personnel with non-manual employees. They highlight the importance of various forms of sub-contracting as a means of strengthening management control at site level. They suggest that the centrally located personnel function may well be close to strategy makers but ultimately the role was found to be advisory with a limited capacity for direct intervention.     

Ghana's agricultural food policy: Operation feed yourself

Prompted by food shortages, the newly ensconced Ghanaian military regime in 1972 initiated ‘Operation Feed Yourself’, a national programme directed at increased production of food crops. The authors attempt to determine how effective Operation Feed Yourself has been in attaining its goals. The bureaucracy which was set in place to implement the programme is assessed. Building on personal interviews conducted in Ghana with persons responsible for and affected by it, the authors discuss the successes and shortcomings of Operation Feed Yourself and suggest areas in which improvement might be made.     

Exercising Market Power in Proprietary Aftermarkets

Over 20 recent antitrust cases have turned on whether competition in complex durable-equipment markets prevents manufacturers from exercising market power over proprietary aftermarket products and services. We show that the price in the aftermarket will exceed marginal cost despite competition in the equipment market. Absent perfectly contingent long-term contracts, firms will balance the advantages of marginal-cost pricing to future generations of consumers against the payoff from monopoly pricing for current, locked-in equipment owners. The result holds for undifferentiated Bertrand competition, differentiated duopoly, and monopoly equipment markets. We also examine the effects of market growth and equipment durability.     

International Integration and Growth: A Survey and Empirical Investigation

The authors attempt a comprehensive assessment of different forms of international integration on growth. In particular, the paper considers the impact of trade flows, of inward foreign direct investment, of preferential treatment of less-developed countries, and of membership in trade blocs. Results confirm that general openness and foreign direct investment into a country do lead to increased growth; that membership in a trade bloc facilitates growth; and that the variation in income in the trade bloc also encourages more rapid growth among member countries.     

The good in evil: a discourse analysis of the galamsey industry in Ghana

Galamsey, a low-tech, labour-intensive, small-scale mining activity in Ghana, has recently come under intense criticism and state policing despite being an important livelihood source. Based on empirical research, this paper uses discourse analysis to re-examine galamsey politics in Ghana, focusing on why people are engaged in galamsey despite attempts to curtail it. Findings suggest that for most individuals and communities, poverty, displacement from agricultural lands and unemployment explain their initial entry into the industry. However, the legal, regulatory and policing regimes, together with complex, ambivalent relationships between government, large-scale mining companies, traditional authorities and galamsey operators, all help to perpetuate galamsey. These findings provide a counter-narrative to the dominant discourse of opportunism and demonisation which often characterises public discussions on Ghana’s galamsey industry. Rather than the combative approach taken by the state towards the galamsey phenomenon, urgent legislative and policy reforms are needed in order to streamline the licensing regime and address the drivers of galamsey.