CATALOG RETAILER IN‐STOCK PERFORMANCE: AN ASSESSMENT OF CUSTOMER SERVICE LEVELS

The purpose of this article is to study the level of “in‐stock” customer service performance being offered in the catalog channel of distribution. The article provides benchmark information for the catalog industry. More importantly, the article serves as one test of the effectiveness of the modern supply chain, where the expectation is for near perfect orders. Customer service levels are studied by using an empirical observation methodology in which catalog retailer's in‐stock performance was measured. Comparisons are made across item type, season, retailer type, and days from catalog receipt. Overall, items were out‐of‐stock during 15.9% of all checkpoints, compared to an 11.8% stock‐out rate in an earlier study of bricks and mortar retailers.     

Fixed Exchange Rates and Disinflation in Emerging Markets: How Large Is the Effect?

We examine developing countries which have institutional quality ratings for the effects of exchange rate rigidity on inflation. The level of institutional development exerts no effect on the impact of currency regimes. However, the interaction of institutional quality and exchange rates has, in the most plausible specifications, a negative impact on inflation. This suggests that fixed exchange rates exert at most a contingent effect on inflation, and indicates that countries in Eastern Europe and Latin America contemplating currency pegs would be better off improving institutional quality prior to adopting the euro or dollar and expecting a large subsequent disinflationary effect. JEL no.  F31, O11     

Examining product managers’ job satisfaction and performance using selected organizational behavior variables

The product management form of organization has been around for quite a while; yet little empirical research has been done on product managers. This article reports a study of product managers and some organizational behavior factors which contribute to their job satisfaction and job performance. These factors include centralization of decision making, job structure, job scope, role ambiguity, and role conflict. Finally, several suggestions are made for creating an environment more conductive to having product managers who are satisfied with their jobs.     

Investment decision-making under economic policy uncertainty

It is widely established that economic policy uncertainty (EPU) affects investment decisions and performance, yet research in this area has overlooked the direct property investment market. This article seeks to rectify this and proposes a multistage multilevel analytical framework to offer new insights and a richness of findings. Using a news-based measure of EPU in the United Kingdom, and controlling for economic conditions, a national-level analysis reveals some evidence of Granger-Causality between EPU and total returns, indicating that pricing is responsive to uncertainty. These findings suggest that EPU is an important risk factor for direct property investments, with pricing implications. Differences in data and performance measure are important, however, with income returns unresponsive. A micro-level investigation begins to reveal some of the asset-pricing decisions underpinning the national results, indicating investors’ concerns for income streams are consistently high, regardless of varying EPU. Pricing can also cause changes in EPU, such as in the retail and industrial markets (increasingly linked through logistics) reflecting sector-specific stakeholder groups and newsworthy issues. This evidence highlights how important it is for policy-makers to understand the complex and bi-directional relationship, that indecision can undermine investment confidence and cause investment market volatility, in turn raising EPU.     

Rent Control and The Supply of Housing Services: The Brookline Massachusetts Experience

A bstract . The hypothesis that the short-run and long-run supply of housing services is unaffected by rent control is examined. It has been asserted that total housing services may remain unchanged when tenant supplied services are included and that capital improvements may return to normal after the initial loss in property values. Using data on health code violations and building permits from a town in metropolitan Boston , the analysis concludes that rent control diminishes the total supply of housing services in the short-run and reduces capital expenditures to maintain and improve housing services in the long-run.     

Management Ethics and Corporate Policy: A Cross-cultural Comparison

This paper reports the results of a cross-cultural empirical study that investigated differences in the clarity of corporate attitudes towards ethical 'grey areas' and their influences on managers' ethical decision making. The study encompassed managers in France, Germany, Britain, Spain and the USA working in over 200 companies operating in these countries. Comparisons are made at both individual manager level and at corporate level. At the former level significant differences are found among nationalities of managers themselves. For the latter, differences are found among companies according to the nationality of their home country rather than the host country. Despite identifying national differences in areas of gift giving and receiving, loyalty to company, loyalty to one's group, and reporting others' violations of corporate policy, the study presents evidence that clarity of corporate policy has little influence on managers' reported ethical decision making. The perceived behaviour of managers' colleagues is far more important in predicting attitudes towards decision making of managers across the nationalities surveyed. This has implications for the efficacy of the growing popularity of corporate codes across Europe. Companies should place more emphasis on intervening in peer dynamics rather than trying to legislate for managers' ethical conduct.     

Outdoor recreation participation and views on resource development and preservation

Abstract

Views on the preservation of resources versus their development for recreation are compared among participants in three types of outdoor recreation: “appreciative”; activities (cross‐country skiing, hiking, and canoeing); “consumptive”; activities (fishing and hunting); and “mechanized”; activities (motorboating, snowmo‐biling, and trail biking). The results from a 1984 questionnaire survey conducted in Edmonton and Calgary, Canada, indicate a stronger preservationist orientation among participants in appreciative activities, whereas (with the exception of hunters) participants in consumptive and mechanized activities hold stronger pro‐development views. These differences cannot be attributed to simultaneous variations in socioeco‐nomic characteristics or environmental attitudes among the recreational groups. The findings suggest that differences in outdoor recreational activity preferences represent an important source of variation in views about appropriate levels of preservation versus development of Alberta's natural and wildernesss resources.