Consumer preference among fluid milks: low‐fat vs. high‐fat milk consumption in the United States

The present study uses data from the Continuing Survey of Food Intakes by Individuals 1994–1996, 1998 in order to analyse milk consumption by type, specifically high‐fat milk vs. low‐fat milk. Whereas trend analysis displays an overall increase in low‐fat milk consumption over the last few decades in the United States, a number of individuals still consume high‐fat milk varieties, and overall dietary intakes have yet to achieve recommended levels. In light of recent research regarding fat intakes, it is important to understand what factors might cause consumers to purchase high‐fat options given the number of low‐fat options available in the market. Through the use of Logistic regression, key socio‐economic and demographic variables are analysed in order to determine their impacts on the probability of consuming low‐fat milk vs. high‐fat milk. The results indicate that a number of factors do influence probability of low‐fat milk consumption as compared with high‐fat milk consumption. Most notably, probability of low‐fat milk consumption appears to be positively related to age, education level, and income level. African Americans and other minorities had a lower probability of consuming low‐fat milk when compared with White people in the sample population. Also, those respondents designated as low income or living in the South were less likely to consume low‐fat milk.     

Likelihood ratio tests for model selection of stochastic frontier models

An important issue when conducting stochastic frontier analysis is how to choose a proper parametric model, which includes choices of the functional form of the frontier function, distributions of the composite errors, and also the exogenous variables. In this paper, we extend the likelihood ratio test of Vuong, Econometrica 57(2):307–333, (1989) and Takeuchi’s, Suri-Kagaku (Math Sci) 153:12–18, (1976) model selection criterion to the stochastic frontier models. The most attractive feature of this test is that it can not only be used for testing a non-nested model, but also still be applicable even when the general model is misspecified. Finally, we also demonstrate how to apply this test to the Indian farm data used by Battese and Coelli, J Prod Anal 3:153–169, (1992), Empir Econ 20(2):325–332, (1995) and Alvarez et al., J Prod Anal 25:201–212, (2006).     

E-commerce,R&D,and productivity: Firm-level evidence from Taiwan

This study investigates the impact of e-commerce and R&D on productivity, using a unique panel dataset obtained from Taiwanese manufacturing firms for the period from 1999 to 2002. We specifically consider the network externalities of e-commerce and employ the system generalized method of moment (GMM) technique to deal with the endogenous problem of e-commerce adoption. The empirical results show that both e-commerce and R&D capital have a positive influence on productivity, while R&D exhibits a larger productivity-enhancing effect. We also find a complementary relationship between e-commerce and R&D on enhancing productivity. Crucially, the inter-industry network externality of e-commerce significantly contributes to productivity.     

The challenge of using standard contracts in public–private partnerships

A call for an increased use of standard contracts in public–private partnerships (PPPs) for infrastructure development is noticeable in practice. These contracts are expected to simplify and improve procurement by creating opportunities for learning, lower transaction costs, and better competition. This paper delineates standard contracts in PPP as a new venue for research and unfolds their potential impact. Here lies an important challenge since the benefits of standardization are not as straightforward as they look at first sight, particularly when taking into account the tension between the powerful, control-oriented role of contracting authorities and the need for contingent, informal contracting.     

Social Media Metrics — A Framework and Guidelines for Managing Social Media

Social media are becoming ubiquitous and need to be managed like all other forms of media that organizations employ to meet their goals. However, social media are fundamentally different from any traditional or other online media because of their social network structure and egalitarian nature. These differences require a distinct measurement approach as a prerequisite for proper analysis and subsequent management. To develop the right social media metrics and subsequently construct appropriate dashboards, we provide a tool kit consisting of three novel components. First, we theoretically derive and propose a holistic framework that covers the major elements of social media, drawing on theories from marketing, psychology, and sociology. We continue to support and detail these elements — namely ‘motives,’ ‘content,’ ‘network structure,’ and ‘social roles & interactions’ — with recent research studies. Second, based on our theoretical framework, the literature review, and practical experience, we suggest nine guidelines that may prove valuable for designing appropriate social media metrics and constructing a sensible social media dashboard. Third, based on the framework and the guidelines we derive managerial implications and suggest an agenda for future research.     

Perceptions of Strategic Priorities,Consensus and Firm Performance

This paper reports the results of a study into strategy content, consensus, and firm performance. It is argued that the content of consensus, i.e. what the agreement is about, is of importance, and that strategic priorities concerned with the extant strategy are constructs that are strategically relevant to the exploration of consensus--performance links. Whereas previous studies have used a statistical measure of consensus (summing standard deviations), in this study the managers' perceptions of strategic priorities have been plotted on two-dimensional graphs. We argue that in contrast to the use of means and standard deviations, by plotting the patterns of perceptions produced by a management group, more information is retained for subsequent interpretation and hence a richer picture of the extent and nature of shared perceptions within a management group can be developed. Using this approach, data from 32 strategic business units were analysed, revealing patterns of consensus and performance. The paper discusses the implications of these patterns, and suggests some avenues for further research.     

Are Public and Private Social Expenditures Complementary?

Most analyses of social protection are focussed on public arrangements. However, social effort is not restricted to the public domain; all kinds of private arrangements can be substitutes to public programs. OECD data indicate that accounting for private social benefits has an equalising effect on levels of social effort across a number of countries. This suggests complementarity between public and private social expenditures. But their distributional effects differ. Using cross-country data, we find a negative relationship between net public social expenditures and income inequality, but a positive relationship between net private social expenditures and income inequality. We conclude that changes in the public/private mix in the provision of social protection may affect the redistributive impact of the welfare state.Part of Leiden Social Security Incidence Project. Revised version of a paper presented at the 57th International Atlantic Economic Conference, Lisbon, Portugal (March 10–14, 2004), and at the 60th Congress of the International Institute of Public Finance, Milan, Italy (August 23–26, 2004). The usual disclaimer applies.     

Whose Human Capital? The Challenge of Value Capture When Capital is Embedded

abstract    Current approaches that position human capital as central to value generation in knowledge-based industries obscure the importance of the relational nature of knowledge production. That is, separable and embodied forms of capital are interdependent in value creation and capture processes. We identify a relational form of capital, embedded capital, which we argue is the critical resource in knowledge-based industries such as professional services firms, because it allows us to include agency and interdependency in the value capture process. These dimensions have previously been overlooked by the resource-based view of the firm. Examples of embedded capital include brand value, processes and procedures. The deployment of embedded capital is also not clearly controlled by either the firm or individual employees. A model is developed to illustrate the links between each form of capital, and the processes of value capture. This conceptual identification of the embedded form of capital is therefore of importance to future value creation and capture debates.