The healthy development of economies: A strategic framework for competitiveness in the health industry

Applying a strategic decision-making perspective on the economics of business, we suggest that a competitive locality in the health industry is one that, relative to other localities, is effective in: (1) providing the healthcare that enables everyone to participate fully in the democratic development of the locality; (2) providing the healthcare that is democratically identified as a direct objective of this development; (3) contributing through the health industry to any other democratically determined objectives of the locality's development. The paper hypothesizes that strategic decision-making in organizations is an especially significant determinant of the impacts of the health industry. We conclude that: (i) a locality that suffers concentration in the power to determine the objectives of its health industry could not be strictly competitive in that industry; (ii) the first best way to achieve competitiveness in the health industry would be to democratize its strategic decision-making. What this would entail in practice is discussed in some detail.     

Employee perspectives on communication and consultation: findings from a cross-national survey

Highlighting the ongoing significance of national models of employment relations, this paper examines whether variation in communication and consultation practices between countries is reflected in employee perceptions. Drawing upon a survey of around 3,500 employees in four European countries – France, Germany, Italy and the UK – the paper explores whether workers' views on various aspects of communication and consultation are similar or different. It finds that there are certain similarities, with particular types of information and forms of communication being valued across the countries. However, differences are also identified. It is suggested that national institutions may well shape employee expectations about the nature of communication and consultation, feeding through to how satisfied they are with these processes.     

The role of the stock market in the provision of Islamic development finance: Evidence from Sudan

This paper assesses the impact of stock exchange funding in the Shari'ya compliant Islamic economy of Sudan. Evidence suggests that while Islamic financial instruments have considerable potential in facilitating development finance through their emphasis on partnership this is better achieved by the banking system rather than the Khartoum Stock Exchange. A case study of the Sudan Telecommunications company shows that larger firms able to cross-list elsewhere are likely to choose regional markets in preference to their domestic one thus benefiting from lower costs of equity. However, governance preferences are likely to favour block shareholders following the Islamic finance partnership concept.     

Earnings Forecasts and the Information Contained in Spinoff Announcements

This study examines spinoff announcements in conjunction with financial analysts’ forecasts of earnings. The analysis shows that spinoff announcement abnormal returns are significantly related to the firm's information environment as proxieci by financial analysts’ earnings prediction errors. The findings also indicate that analysts significantly increase their short-term earnings forecasts in response to spinoffs, but do not significantly revise their long-term earnings forecasts. However, the earnings revisions are not significantly different across prediction error groups, which confirms that spinoff-related abnormal returns cannot be attributed solely to expected performance gains.     

The causes of the economic crisis

The authors are attempting an objective elucidation of the economic crisis in Portugal. They are dealing with the influence of excess investment, with external economic factors such as the energy crisis and the recession in the industrial countries, and with the consequences of the revolutionary process.     

Retailing strategy for customer growth and new customer attraction

The image that current and potential customers have of a retail store affects the magnitude of patronage at that store. In attempting to increase store patronage, management of a retail store must look to people who already are customers, as well as to people who are not current customers. The appropriate strategy depends upon the dimensions used by people in their evaluation of the store. The hypothesis is tested that the strategy used for gaining increased patronage from customers may have to differ from that used to gain patronage from noncustomers.Field survey techniques were used to collect data from 225 adult females. Respondents evaluated three large retail department stores, which were believed to have distinct images in the minds of female shoppers, on the basis of a set of 12 semantic scales that represented various store attributes. Each respondent indicated frequency of shopping at each store. The data were analyzed by two different multiple discriminant analyses. For the customer growth strategy, the semantic scale measures were used to develop a discriminant model for each store to determine which attributes would be the best predictors of shopping frequency. The analysis relevant to the strategy of new customer attraction differed. First, shoppers were classified as loyal to one store on the basis of their rates of shopping at each store. Second, the 36 attribute measurements (12 scales for 3 stores) were factor analyzed, and three factors were extracted. Those attributes which loaded highest on each of the factors for each store were used as predictor variables in the discriminant analysis.The results of this study indicate that different marketing strategies may be required for increasing sales to existing customers and attracting new customers. In addition, consumers do not necessarily differentiate similar type retail stores on the same dimension.