The Impact of Innovativeness and Development Time on New Product Performance for Small Firms

Timing is becoming a new source of competitive advantage. The business press extols the benefits of faster product development. This paper examines whether competitive advantage can be gained by reducing development time across all types of new products or whether this advantage is restricted to certain types of new products. It proposes that product innovativeness moderates the relationship between development time and initial market performance. A survey of 110 small manufacturing firms in computer related industries supports the hypothesis. The survey findings indicate that a firm must guard against over- or under-development of the new product since product innovativeness was found to influence the impact of development time on market performance. The implications for managers are: beware of bringing a new product that is too much, too early or too little, too late.     

The Distributional Properties of the Debt to Equity Ratio: Some Implications for Empirical Research

The purpose here is to assess empirically the quasi-supply side model of the firm developed in the paper by Ashton et al. (2004 ) by testing the prediction of the model that the evolution of a firm's debt to equity ratio will be compatible with a non-linear (target adjustment) process whose underlying probability density function possesses no convergent moments. Using a thirty-two-year history of the debt to equity ratio for each of ninety 'mature' United Kingdom firms, a non-parametric estimation procedure shows that the debt to equity ratio evolves in terms of a process which is largely consistent with the predictions of this model. In particular, the evolution of the debt to equity ratio is compatible with a 'long (fat) tailed' density function with no convergent moments. This has the important implication, supported by our empirical analysis, that the linear dynamic models which characterize empirical work in this area will be mis-specified and will return inconsistent and temporally unstable estimates of the target adjustment process as a consequence.     

Intraday volume and volatility relations with and without public news

This paper reexamines the dynamic relation between intraday trading volume and return volatility of large and small NYSE stocks in two partitioned samples, with and without identifiable public news. We argue that the sequential information arrival hypothesis (SIAH) can be tested only in periods containing public news. After partitioning the sample into periods with and without public news, we find bi-directional Granger-causality between volume and volatility in the presence of public information as hypothesized by the SIAH. Our analysis further suggests that return volatility is higher in the periods with public news, while trading volume is significantly higher in the no-news period; perhaps owing to the importance of private information for trading stocks. Using the sample without public news, we find evidence that volume Granger-causes volatility without feedback. These results are broadly consistent with behavioral models like the overconfidence and biased self-attribution model of [Daniel, K., Hirshleifer, D., Subrahmanyam, A., 1998. Investor psychology and security market under- and over-reactions. Journal of Finance 53, 1839–1885]. It appears that overconfident investors overrate the precision of their private news signals and therefore trade too aggressively in the absence of public news; when public news arrives, investors’ biased self-attribution triggers excessive return volatility.     

Mapping the consumer‐subject in advertising

Traditionally marketing communication‐or more specifically advertising‐has been framed in terms of products/ services, needs and wants of consumers as if these were real givens, existing independently of the forms and acts of marketing communication itself. From this perspective, advertising is merely seen as a purveyor of information about products/services/needs between producers and consumers but hardly as actively implicated in shaping, not only the relation between the processes of production and those of consumption, but also the conception of the consumer‐subject. This paper makes a brief diachronic account of advertising with a view to highlighting how the consumer‐subject is represented. Whereas early advertising conceives of the consumer‐subject as a “rational” decision‐maker, aware of its needs and desire, more recent advertising constitutes the consumer‐subject in a hyperreal, dream‐like world, which seduces and spellbinds it.     

DISGUISED UNEMPLOYMENT AND AGRICULTURAL DEVELOPMENT

This paper presents a theoretical analysis of disguised unemployment in less developed countries, which tends to lend support for agricultural development policies as the most effective means of eliminating such unemployment. In addition, it is shown that urban unemployment may also be remedied through such policies. The overall conclusion of the theoretical analysis is that agricultural policies in the less developed countries manifesting disguised and urban unemployment should, as a first target, aim at maintaining farming activities throughout the calendar year at levels achieved during peak seasons.
CHOMAGE DEGUISE ET DEVELOPPEMENT AGRICOLE – Ce mémoire présente une analyse théorique du chômage déguisé dans les pays sous-développes. ľanalyse tend à favoriser une politique de développement agricole comme moyen ďéliminer un tel chômage. En outre, il est démontré que ľon peut améliorer le chômage urbain par une telle politique. La conclusion principale c'est que la politique des jeunes nations (affligées de chômage et déguisé et urbain,) doit se concentrer premiérement à soutenir pendant toute ľannée le niveau ďemploi des périodes de la plus grande production.     

An exploratory study of organizational flexibility in Malaysia: a research note

This note reports on an exploratory study examining the relationships between rules on employee behaviour and on management discretion and other aspects of organizations in Malaysia. Using the data from thirty-five Malaysian organizations, the authors highlight the differences between the implications of the rules for the two groups and their relationships with company performance.     

The Vortex of Rights: ‘Right to the City’ at a Crossroads

The right to the city concept has recently attracted a great deal of attention from radical theorists and grassroots activists of urban justice, who have embraced the notion as a means to analyze and challenge neoliberal urbanism. It has, moreover, drawn considerable attention from United Nations (UN) agencies, which have organized meetings and outlined policies to absorb the notion into their own political agendas. This wide‐ranging interest has created a conceptual vortex, pulling together discordant political projects behind the banner of the right to the city. This article analyzes such projects by reframing the right to the city concept to foreground its roots in Marxian labor theory of value. It argues that Lefebvre's formulation of the right to the city — based on the contradiction between use value and exchange value in capitalist urbanism — is invaluable for analyzing and delineating contradictory urban politics that are pulled into the vortex of the right to the city. Following Lefebvre's lead in such an analysis, however, reveals certain limitations of Lefebvre's own account. The article therefore concludes with a theoretical proposition that aims to open up space for further critical debate on the right to the city.     

Linking learning and effective process implementation to mass customization capability

This study investigates the role of learning and effective process implementation in the development of mass customization capability. Building upon the knowledge-based view of the firm, we argue that internal and external learning are two knowledge-generation routines that contribute to effective process implementation. Effective process implementation, in turn, is a knowledge-based manufacturing capability, which, as a function of internal and external learning, leads to mass customization capability. We employ structural equation modeling to empirically test the effects of learning on mass customization capability, mediated by effective process implementation, using survey data collected from 100 manufacturing plants in 3 industries and 6 countries. Our results provide empirical evidence supporting the proposed model of the effect of internal and external learning on mass customization capability, fully mediated by effective process implementation. This research is one of the first studies to integrate insights from the knowledge-based view of the firm and mass customization. It complements the OM view of mass customization, which to date has largely focused on the technical side, by demonstrating the role of managerial practices and learning in cultivating mass customization capability in a manufacturing environment.