Trends in British public investment

British public investment has declined sharply both as a share of GDP and as a share of government spending since the 1970s. Only part of this decline is explained by privatisation, which transferred some public investment to the private sector. More important was the very large and permanent reduction in public house‐building between the mid‐1970s and the early 1980s. Between the late 1980s and the early 1990s, the rate of public investment recovered somewhat, but after that time it declined again, reaching a record low in 1999. The most recent decline in public investment has affected a range of central government programmes, and it has not been significantly offset by investment under the Private Finance Initiative. The government now plans to increase investment spending, although levels look set to remain low by historical standards for some time to come.     

Boxed-in:: Top managers' propensities during crisis issue diagnosis

A key task of crisis preparedness is to diagnose those crisis issues that could threaten an organization in the future. Existing models, however, have focused on diagnosing issues that are already apparent versus those that may occur in the future. As a result, we lack understanding of the processes involved in such diagnosis and the barriers that constrain this process. This paper describes envisioning, noticing, and interpretation as critical processes involved in diagnosing potential crises. It also suggests that during such diagnosis, top managers have a propensity to focus on particular types of crises and be blind to others. Implications for practice and future research are discussed.     

Bureaucratic integration and regional specialization in China

Fiscal decentralization introduced as part of China's economic reform since 1979 has unleashed strong incentives for China's local governments to pursue economic development, but the same incentives have also led to local protectionist policies inhibiting the process of regional specialization. This paper focuses on the constraints or freedom with which local governments can implement their protectionist policies. Using a panel data of 29 China's regions over the time period of 1985–1997, we find that China's political system of bureaucratic integration (specifically, concurrent appointment of local government officials in the central government) imposes constraints on the local governments from practicing protectionism. We also find that the effectiveness of local protectionist policies is limited by market competition, specifically, competition from foreign-invested firms operating in China and foreign imports. Our results on the role of local protectionism remain robust to controls for the regional variations in the size of the economy and the stage of economic development.     

Price rigidities and institutional variations in markets with posted prices

Summary Standard laboratory posted-offer markets respond slowly and incompletely to demand shocks. In these one-sided markets, where sellers control the setting of prices, very little information is transmitted via the process of exchange. For this reason, traders have trouble distinguishing randomness in their own experience from changes in market fundamentals. This paper reports the results of twelve laboratory markets conducted to assess whether some common variants to standard posted-offer rules can correct the adjustment deficiences. Although discounting, multiple postings and excess demand information all improve performance, we find that response remains poor, and efficiencies low.Support for this research was provided by the National Science Foundation (SBR 9319842 and SBR 9320044), and the University of Virginia Bankard Fund. Data are archived at FTP address: fido.econlab.arizona.edu. We wish to thank Charles Plott and Shyam Sunder for useful comments on an earlier draft of this paper. The usual disclaimer applies.     

AN EVALUATION OF PROCESS‐ORIENTED SUPPLY CHAIN MANAGEMENT FRAMEWORKS

Supply chain management (SCM) is implemented by integrating corporate functions using business processes within and across companies. Several process‐oriented frameworks for SCM have been proposed but only two of these provide sufficient detail to enable implementation. We evaluate the Supply‐Chain Operations Reference (SCOR) framework and The Global Supply Chain Forum (GSCF) framework using four criteria and identify their relative strengths and weaknesses.     

Hospital Mergers and Antitrust: Some Economic and Legal Issues

A bstract The article traces the development of the market for hospital services through evolutionary stages to the present emphasis on merger and consolidation. Examination of the traditional principles of antitrust analysis suggests they are sufficiently flexible to warrant their application in evaluating the competitive impact of hospital mergers.     

What Do Bettors Want? Determinants of Pari‐Mutuel Betting Preference

A bstract .   This paper is an analysis of the demand for thoroughbred racetrack wagers, examining evidence that would support the existence of two types of bettors: the risk-averse informed bettor versus the uninformed bettor. Looking at 12 major racetracks over the fall of 2002, we undertake an empirical examination of the determinants of bettors' preferences for particular wagers on specific races. The goal is to try to determine what individual aspects of a race (conditions, surface, participants, etc.) will encourage increased wagering dollars. With the advent of simulcasting, the competition for the wagering dollar is fierce, as the bettor can choose from more than 100 races daily, each race offering numerous betting options. We find for most wagers that higher quality participants, larger and more competitive fields, and turf races increase betting volume while higher pari-mutuel takeout, poor track conditions, and other races run concurrently reduce volume. However, more competitive fields reduce betting volume in the show and trifecta pools. Optimal field size is determined to be between 10 and 12 betting interests. Overall, we find support for the existence of a significant share of risk-averse informed bettors.     

Driving organizational citizenship behaviors and salesperson in-role behavior performance: The role of management control and perceived organizational support

Interest in management control approaches and organizational factors associated with higher levels of salesperson performance is reflected in research streams concerned with behavior-based control strategies and organizational citizenship behaviors (OCBs). This study makes two distinct additions to the literature relating to control, organizational citizenship behaviors and salesperson performance. First, the study distinguishes between salesperson in-role behavior performance and outcome performance to model in-role behavior performance as a mediator between OCB and outcome performance. Second, the work supports sales manager control as an antecedent to OCB. A second model introduces perceived organizational support (POS) as an additional antecedent to salesperson OCB, and more important, as a consequence of sales manager control. This construct has not been included in prior salesperson OCB studies. Results show sales manage control has a stronger impact on OCB through POS, than directly, and POS has a strong impact on salesperson OCB. Nigel F. Piercy (Nigel.Piercy@wbs.ac.uk) is a professor of marketing in the Warwick Business School at the University of Warwick, United Kingdom. He holds a Ph.D. from the University of Wales and a higher doctorate (D.Litt) from Heriot-Watt University, Edinburgh. His current research interests focus on strategic sales and account management. His work has been published in many journals including theJournal of Marketing, theJournal of International Marketing, and theJournal of the Academy of Marketing Science. He is coauthor to David Cravens onStrategic Marketing (8th ed., Irwin/McGraw-Hill, 2006). David W. Cravens (D.Cravens@tcu.edu) holds the Eunice and James L. West Chair of American Enterprise Studies and is a professor of marketing in the M. J. Neeley School of Business at Texas Christian University, Fort Worth, Texas. He has a doctorate in business administration from Indiana University. His areas of specialization include marketing strategy and planning, sales management, and new product planning. His research has been published in a wide range of journals including theJournal of Marketing, theJournal of Marketing Research, the Journal of the Academy of Marketing Science, and theInternational Journal of Marketing. Nikala Lane (Nikala.Lane@wbs.ac.uk) is a senior lecturer in marketing in the Warwick Business School at the University of Warwick, United Kingdom. She holds a Ph.D. from the University of Wales and was previously a senior research associate at Cardiff University. Her research interests are focused on gender and ethics issues in sales and marketing management. Her work has been published widely in the international literature and includes articles in theJournal of Management Studies, theBritish Journal of Management, the Journal of Business Ethics, and theJournal of Personal Selling & Sales Management. Douglas W. Vorhies (dvorhies@bus.olemiss.edu) is an assistant professor of marketing in the School of Business Administration at the University of Mississippi. His primary research interests are in the areas of marketing strategy, marketing resources and capabilities, the links between innovation, strategic market management and performance, and professional selling and sales management. His other work has been published in many journals including theJournal of Marketing, Decision Sciences, theJournal of Product Innovation Management, theEuropean Journal of Marketing, and theJournal of Personal Selling and Sales Management.     

Social distance and shopping behavior

This research was designed to see whether a reconceptualization of social distance (as measured by social class variables) between shoppers and stores would provide a basis for understanding store avoidance behavior. A survey of shoppers classified into two distinct social classes investigated their images, including social class images, of two stores that had been selected as representatives of upscale and downscale retailers. A new measure of social distance was proposed and evaluated. Controlling for other functional aspects of store image such as price and personnel, the social distance measure was found to be influential in discriminating shopping frequency groups for the two stores, providing evidence that people tend to avoid stores that are perceived as being socially distant from themselves.     

A measure of alienation from the marketplace

For the purpose of equipping researchers in marketing with a more sophisticated method to measure alienation in a marketing context, the authors have constructed and initially tested an alienation from the marketplace index. Alienation is defined in terms of Melvin Seeman's (1959) five basic variants of alienation: powerlessness, meaninglessness, normlessness, social isolation, and self-estrangement. After pretesting, two questions per variant of alienation remained as the operational measures of alienation from the marketplace. These questions focused specifically on marketing phenomenon. Test-retest reliability was tested with 35 paired observations. Validity was checked with survey data from 140 households. In terms of face or content validity, the questions met the criterion of “looking as if” they should indicate the corresponding dimensions of alienation. Correlations between the marketplace alienation items and a measure of general alienation established concurrent validity. The authors propose that the use of the marketplace alienation index in studies involving those who are affected by our country's business climate may prove useful. For example, one would hypothesize that increasing alienation from the marketplace would be associated with support of consumerist goals, or even of additional government legislation to control problems that the individual feels is uncontrollable by him because of the bigness and indifference of modern day enterprise. Pepsico, Inc.