Theories of the (state-owned) firm

State-owned enterprises (SOEs) contribute approximately 10% of the world’s GDP. SOEs at one time were predicted to disappear from the economic landscape of the world, but today SOEs are growing more prevalent in the world economy. The current theories of the firm that form the pillars of the management discipline largely ignore the theoretical differences that SOEs introduce into the conceptualization of the firm. Therefore, we extend four core theories of the firm by incorporating SOEs as a mainstream (not special or marginal) organizational form into these theories. We focus specifically on property rights theory, transaction cost theory, agency theory, and resource-based theory, culminating in a research agenda with 12 testable propositions.     

Was the Australian Meat and Live‐stock Corporation’s advertising efficient?

A theory of the allocation of producer levies earmarked for downstream promotion is developed and applied to quarterly series (1970:2–1988:4) on red-meats advertising by the Australian Meat and Live-stock Corporation. Robust inferences about program efficiency are contained in the coefficients of changes in promotion effort regressed against movements in farm price and quantity. Empirical evidence of program efficiency is inconclusive. While the deeper issue of efficient disbursement of funds remains an open question, there is evidence, at least, of efficient taxation.     

Coming to Terms with London: Middle‐class Communities in a Global City

In this article we contrast the experience of middle‐class life in two areas of South London. We hypothesize that different sections of the middle class will live in different areas. Whilst these differences partly reflect economic capabilities and occupational divisions (such as public versus private employment sector, professionals versus managers), we suggest these divisions are becoming more complex. We develop a threefold model based on the work of Savage et al. (1992) and hypothesize that each group will tend to live in different and distinct areas of the city. In our comparison of two areas in which we have completed fieldwork (Telegraph Hill and Brixton), we are able to show very different accommodations to metropolitan life which provides initial support for our hypothesis. We characterize middle‐class life in Brixton as being essentially unstable, which is largely compensated for by the frisson of living in a cosmopolitan and mixed area. Telegraph Hill is a more stable area, with residents building a long‐term relationship with the area and forming substantial social networks with other residents; it, however, lacks the cultural infrastructure of Brixton. We argue that ‘circuits of education’ are of prime importance for middle‐class families living in London: in comparison to Brixton, our respondents in Telegraph Hill have developed sophisticated educational strategies which have enabled them to come to terms with living in London. Cet article compare la vie des classes moyennes dans deux quartiers du sud de Londres. Par hypothèse, il considère qu'au sein de ces classes, des catégories différentes vivront dans des quartiers différents. Si ces divergences traduisent en partie des capacités financières et des disparités professionnelles (ex.: entre secteur public et secteur privé, professions libérales et cadres), elles se font aussi plus complexes. L'article présente un modèle en trois parties basé sur le travail de Savage et al. (1992), en présumant que chaque groupe aura tendance à vivre dans un quartier spécifique de la ville. En opposant deux zones où le travail sur le terrain est terminé (Telegraph Hill et Brixton), il est possible de montrer des adaptations très variées à la vie métropolitaine, celles‐ci offrant une première contribution à l'hypothèse de l'étude. La vie des classes moyennes à Brixton peut se définir comme étant essentiellement instable, caractéristique largement compensée par le frisson d'une existence dans un quartier hétéroclite et cosmopolite. Telegraph Hill est une zone plus stable, les résidents établissant un lien durable avec le quartier et constituant entre eux de solides réseaux sociaux; il lui manque toutefois l'infrastructure culturelle de Brixton. L'article expose que les ‘circuits éducatifs’ sont primordiaux pour les familles des classes moyennes vivant à Londres: par comparaison à Brixton, les résidents de Telegraph Hill ont mis au point des stratégies d'éducation élaborées qui leur ont permis de s'accommoder de la vie londonienne.     

Harnessing Innovation for Change: Sustainability and Poverty in Developing Countries

To date, a well‐developed business perspective on how to promote sustainability for those in poverty is sorely lacking. For sustainability enhancing innovations in developing countries, poverty presents unique challenges. In this paper, we argue that if sustainability enhancing innovations introduced in developing countries are to stick, they need to be designed with local customers, networks, and business ecosystems in mind. We illustrate this view using case examples from mobile telephony, fuel efficient stoves, clean drinking water, and household electrification. Our paper underscores the need for today's managers to understand poverty as an integral part of the sustainability nexus and the new international business equation.     

Accounting information systems and learning theory: an integrated approach to teaching

A background to the adoption of computing in accounting education is discussed. There has been considerable pressure by the accounting profession for information technology to be taught in tertiary accounting courses. While accommodating these expectations, accounting academics have been concerned that such teaching should focus on conceptual understanding, rather than training. Research on effectiveness of computers and the learning of accounting concepts has been considered and found to be inconclusive and conflicting. It has been argued that an understanding of learning theory is necessary to enhance the effectiveness of teaching computerized accounting. An approach to teaching computerized accounting information systems and integrating learning theories is presented via a practical example: the objectives of teaching computerized accounting and reasons for adopting the SYBIZ Rev L software package are presented. The chosen approach in developing the teaching and learning material is outlined and linked to learning theory. It is argued that computers in accounting education should not merely be treated as a fait accompli, but be recognized as a part of a process which we should understand and influence. Research needs to continue on a number of methodological fronts. Suggestions are given for more specific empirical research, as well as suggestions on how to incorporate the findings of other related disciplines.     

Examining long-run relationships between Australian beef prices

Cointegration and impulse response analyses are used to investigate the short-run and long-run dynamics of the Australian beef market. The aim of this study is to determine whether long-run relationships existed between Australian beef prices at the farm, wholesale and retail levels. Based on monthly data from 1971 to 1994, the results show that all three prices considered are cointegrated. Furthermore, the wholesale price is found to be weakly exogenous. The latter result might be an indication of market inefficiency due in part to price levelling often practised in the beef marketing system.     

Dynamic general equilibrium analysis of improved weed management in Australia's winter cropping systems*

A recent analysis indicated that the direct financial cost of weeds to Australia's winter grain sector was approximately $A1.2bn in 1998–1999. Costs of this magnitude represent a large recurring productivity loss in an agricultural sector that is sufficient to impact significantly on regional economies. Using a multi‐regional dynamic computable general equilibrium model, we simulate the general equilibrium effects of a hypothetical successful campaign to reduce the economic costs of weeds. We assume that an additional $50m of R&D spread over five years is targeted at reducing the additional costs and reduced yields arising from weeds in various broadacre crops. Following this R&D effort, one‐tenth of the losses arising from weeds is temporarily eliminated, with a diminishing benefit in succeeding years. At the national level, there is a welfare increase of $700m in discounted net present value terms. The regions with relatively high concentrations of winter crops experience small temporary macroeconomic gains.     

Guest Editors' Introduction to Special Issue. Turnaround in Asia: Laying the Foundation for Understanding this Unique Domain

Turnaround is a subject that is receiving increasing attention from researchers, managers and consultants. However, the subject has received minimal examination in Asia, with studies usually focusing more on the external environment or macroeconomic issues and less on the management of Asian firms themselves. This lack of examination has persisted despite the Asian economic crisis of the late 1990s, which pushed many firms into significant decline. Thus, this special issue will provide a baseline for examining this topic more closely. This introduction presents ten papers of this special issue of the Asia Pacific Journal of Management on firm turnaround in Asia. This paper also suggests key research questions for future examinations of the topic of firm turnaround in and around Asia.