PRICE‐SETTING BEHAVIOR IN TURKISH INDUSTRIES: EVIDENCE FROM SURVEY DATA

This study investigates the price‐setting behavior of Turkish industries based on the results of a survey that was conducted by the Central Bank of the Republic of Turkey. The results show that, under normal conditions, the majority of the firms follow a time‐dependent pricing rule but when significant events occur a substantial fraction of them alter their behavior to state‐dependent reviewing. The median Turkish firm reviews its prices every month, but changes its prices four times a year. Price reviews and changes are affected by: the market share, price discrimination, customer type, firm size, and the existence of regulated prices.     

Cross-national and cross-industrial comparison of two strategy approaches for global industrial evolution

This research focuses on analyzing the two prime science and technology (S&T) strategy approaches for industrial evolution based on the concept of S&T gap, namely, the optimist and pragmatist approaches. Particularly, the cases of global IC, pharmaceutical, and computer industries, are used to make cross-national and cross-industrial comparison of these two approaches. The optimist approach is developed based on the product life cycle theory which envisions technology transcending everyday limitations. With this perspective, market demand is the most critical factor in selecting the S&T strategy approaches. The pragmatist approach is formed based on the new trade theory which recognizes the power of science and technology but seeks to fit it into structures that already exist, and government must manage resources pouring into science and technology. Case studies of global IC, pharmaceutical, and computer industries during the 2nd half of the 20th century are used as research targets to reflect policy impacts on the technological evolution. The results of this study reveal that, strategy approaches have to be adapted and turned to the specific stage, technology level, and market segment that have been selected for intervention. This result of comparison also offers the criteria of strategy selection for developing different industry based on distinct national base.     

Emerging Paths of Family Entrepreneurship Research*

This futuristic commentary reviews family business research since its beginning more than 30 years ago. Prior to 2000, disciplinary roots, professional organizations, and early milestones are identified. More recent books, journals, and special issues are noted, and conceptualizations, theories, and databases are compared and contrasted. Lastly, current and future research paths or directions are identified and discussed, and researchers are challenged to move ahead into new and different research arenas.     

OUTSOURCING AND TRADE IMBALANCES: THE UNITED STATES–CHINA CASE

Trade imbalances between the United States and China have become a major concern of international macroeconomics. This paper shows that the existence of outsourcing hides the true scale of the problem.     

Testing for short-run money neutrality in a small open economy: The case of Canada

This paper adopts an econometric methodology which is based on standard nested-hypotheses testing in order to test the policy ineffectiveness proposition in the context of the Canadian economy. It thus avoids some problems associated with the non-nested hypotheses framework used by Barro and numerous other writers. The substantial openness of the Canadian economy is taken into account through the use of a Mundell-Flemming aggregate demand side. The supply response of the economy is carefully modelled, in the same context, and the familiar Sargent-Wallace aggregate supply function is derived as a special case of a more general Keynesian function — by assuming instantaneous adjustment of prices to costs. Empirical tests based on a data sample spanning the period of Canada's recent experience with flexible exchange rates are unfavorable to the policy ineffectiveness proposition.     

FACTORS INFLUENCING CHOICE OF DISCIPLINE OF STUDY — ACCOUNTANCY,ENGINEERING, LAW AND MEDICINE

This paper examines the factors which influence high calibre students in their choice of a professional discipline of study. Using a questionnaire approach students were requested to determine the relative importance of eleven factors in their choice of discipline of study. Results showed that accountancy students appeared most concerned with job satisfaction, earnings potential, availability of employment, aptitude for subject and years of formal education, and to have a different, and more distinctive, profile than that of other students. These results may have important implications for recruitment into the profession.     

Path analysis for mixed qualitative and quantitative variables

In this report path analysis models are considered for mixed qualitative/quantitative variables. Only endogenous variables that are dependent in all its relations are supposed to be quantitative, but this restriction can easily be dropped. Qualitative variables are handled using a dummy-variable for each category. Parameters are estimated by ordinary least squares. The method allows decomposition of total effects in direct and indirect effects, which makes interpretation easier.