Financial Communications and the Contested Take-over Bid, 1958–1982

This study investigates the, changing audience for financial communications and the implications for financial communicators. On the basis of 12 case studies it examines the channels of communication, including offer and defence documents, the role of the press, financial public relations and advertising. The results suggest that the press and financial public relations have a significant role to play but that the price or value of the offer remains the key factor which determines the final outcome in a contested take-over bid.     

The Impact of the Interaction of Utilitarian and Informational Reinforcement and Behavior Setting Scope on Consumer Response

The influence of the environment on the emotional responses and behaviors of consumers has been well established in the consumer behavior literature. The Behavioral Perspective Model (BPM) assumes that utilitarian reinforcement, informational reinforcement, and consumer behavior setting scope are independent dimensions of environmental influence, which can combine in particular consumption situations to produce consumer behavior. This paper empirically examines the possibility of interactions among these dimensions by means of the pleasure, arousal, and dominance (PAD) emotional variables. The PAD variables have been shown to mediate consumer behaviors such as the desire to stay or escape from the setting, to affiliate with others, and the willingness to spend money and consume. The results, showing an interaction between pleasure and arousal in high‐pleasure environments, which then leads to increased approach behavior, seem to confirm the synergistic effects of utilitarian reinforcement and informational reinforcement on behavior. This study appears to be the first to find and investigate a three‐way interaction between pleasure, arousal, and dominance in the context of purchase and consumption. This interaction suggests that the three structural dimensions of the BPM combine to produce consumer behavior. It also highlights the important role of consumer behavior setting scope in consumer situations maintained by intermediate patterns of reinforcement. The implications of these findings for theory and marketing management are discussed.     

FIRM AND GOVERNMENT AS ACTORS IN PENROSE'S PROCESS THEORY OF INTERNATIONAL GROWTH: IMPLICATIONS FOR THE RESOURCE-BASED VIEW AND OWNERSHIP–LOCATION– INTERNATIONALISATION PARADIGM

Edith Penrose's The Theory of the Growth of the Firm proposed a process theory of growth based on the pursuit of knowledge by the firm and unconstrained by government. In her subsequent studies of foreign direct investment by large firms in developing countries, Penrose considers the firm and government as actors in the same growth process. This paper explores the development of Penrose's expanded process theory of growth from 1955 to 1973 in which she assumes that neither dual actors nor foreign expansion requires a new or special theory. This finding has implications for the resource-based view and the eclectic ownership–location–internationalisation paradigm interpretations of international business.     

Efficiency and Technological Change in the U.S. Brewing Industry

This study demonstrates that the measurement of technological change and economic efficiency are tightly linked. Efficiency measures may depend on carefully controlling for technological change, while tests of technological change may be sensitive to empirical model specifications. Moreover, the study underlines Solow's (1994) and Romer's (1994) admonition that econometricians should pay attention to industry and institutional evidence in building models of technological change. The empirical results presented here suggest that there has been substantial technological change in the U.S. brewing industry from 1950 to 1992. This occurred in the form of a dramatic shift in technology beginning with the introduction of super breweries in about 1972. There has also been a substantial increase in scale economies, which undoubtedly caused many inefficiently small firms to exit the industry during the 1960s and 1970s. Further results suggest that a more complete specification of technological change and the stochastic nature of the frontier production function leads to higher and more tenable estimates of efficiency.     

Field publishing performance of U.S. economics departments

Conclusion The purpose of this study is to reduce information costs in the market for graduate education in economics and the market for Ph.D. economists by providing information on research concentration in each of 19 fields for 1980–1986. Some variation in publishing performance across fields is found in highly regarded universities. Unexpected faculty strength is discovered in some middle level departments for particular fields. Among middle- and lower-ranked departments, substantial publishing diversity across fields is evident.     

Opportunities for artificial intelligence development in the accounting domain: the case for auditing

This paper reviews the nature of accounting and auditing problems and the need for application of artificial intelligence (AI) technologies to the discipline. The discussion includes current accounting issues for which new AI development should be fruitful, particularly auditing and assurance. Copyright © 2007 John Wiley & Sons, Ltd.     

Globalization and its discontents

Joseph E. Stiglitz. 2002. Globalization and Its Discontents. New York: W.W. Norton & Company. xxii + 282 pages. ISBN: 0‐393‐05124‐2.