Aggregate imports and expenditure components in the UK: an empirical analysis

This paper examines the long-run relationship between UK aggregate imports and the macroeconomic components of final expenditure, using the Johansen multivariate cointegration analysis. It is found that there are significant differences between the long-run elasticities of import demand with respect to the different components of final expenditure, over the period 1972 to 1990. An error correction model is proposed for short-run forecasting of UK aggregate imports. The short-run model appears to track the data well.     

The Impact of Exchange Rate Volatility on UK Exports to EU Countries

This paper investigates the impact of exchange rate volatility on UK exports to European Union (EU) countries by means of a newly developed ARDL bounds testing procedure to cointegration. Using monthly data disaggregated by market of destination and sectors for the period 1993ml to 2001m6, our results indicate that UK exports to the EU14, at both aggregate and sectoral level, are generally income elastic, relative price inelastic and largely unaffected by short‐term exchange rate volatility. Re‐estimation of the model using a long‐term measure of volatility, however, provides evidence supporting the hypothesis that exchange rate uncertainty has a negative and significant influence on UK exports to EU countries.     

Accounting Choice and Theory in Crisis: The Case of the Victorian Desalination Plant

This paper traces the financial developments of the desalination plant in the State of Victoria in Australia. The desalination plant was built via a public–private partnership (PPP) vehicle, and commissioned at a time when water storage levels in the state were low. Subsequent rainfall has meant that no water has yet been ordered by the Victorian Government from the plant. In the paper an analysis is undertaken of the impact of the manner in which accounting treatment has been used in valuing this infrastructure asset. It is concluded that the applied accounting policy choices and treatments for this infrastructure asset are not consistent with conventional accounting theory, the Conceptual Framework for accounting or generally accepted accounting principles.     

The Hospitality Culture Scale: A measure organizational culture and personal attributes

The hospitality industry has a unique and specific culture when compared to other industries. Because of this, not everyone will want to make this industry a career, as evidenced by the high turnover. Yet, the hospitality industry needs to attract and keep motivated and dedicated employees. This study set out to discover attributes that are unique to hospitality organizations as well as the characteristics and values of a person who would be successful in a work environment that exhibited this culture. This includes determining if a person is a match to the culture of the hospitality industry. In order to identify the variables of hospitality culture, an extensive review of the literature and a panel of industry experts were consulted. The items identified from both groups were used to establish the constructs for a scale, which is called the Hospitality Culture Scale. Seven hundred and forty one hospitality professionals rated the attributes. Principal component analysis determined the final factors for the organizational culture and personal attributes. These constructs included: management principles, customer relationships, job variety, job satisfaction, principles, propitiousness, leadership, risk taker, accuracy, and composure.     

Institutional Reform of Marketing and Related Services to Agriculture,With Particular Reference to Africa

Over the decades to 1980 agricultural marketing and input supply systems came increasingly under official monopolies. Dissatisfaction with the incentives offerred to producers and with the costs to governments has sparked interest in reform. Practicable ways of introducing more competition and mobilizing potential individual initiatives are presented. Obstacles to progress in this direction include political commitments of governments, ethnic concerns and patronage interests. External aid can help ease these constraints.     

Non‐union worker representation through civil society organisations: evidence from the United Kingdom

Drawing on research evidence from the United Kingdom, the main features of non‐union worker representation through civil society organisations (CSOs) are elaborated. The interventions of CSOs are marked by an emphasis on using indirect methods of worker representation beyond the boundaries of the workplace, such as awareness raising measures and political lobbying.