WEB‐BASED AND MAIL SURVEYS: A COMPARISON OF RESPONSE,DATA, AND COST

The mail survey is the most common data collection technique used by logistics researchers today. Many researchers have noted that response rates to mail surveys have been declining. The Internet offers logistics researchers several potential advantages over traditional mail surveys. This research compares these two methods across response rates, speed of response, consistency of results, and cost. The research also provides unique insight regarding the ability of electronic methods to gain interest and subsequent participation among potential respondents thereby helping in theory testing.     

Global strategy as a factor in Japanese success

This article argues that the use of globally integrated strategy provides an additional explanation for Japanese success. Furthermore, this explanation links directly to many of the accepted factors that result in competitive superiority for Japanese companies. The article elaborates on different aspects of global strategy and contrasts typical Japanese and American approaches, and provides some empirical evidence on these differences. Japanese companies' success in post-bubble reconstruction will require a reemphasis on such strategies.     

Fractional integration with drift: estimation in small samples

We examine the finite-sample behavior of estimators of the order of integration in a fractionally integrated time-series model. In particular, we compare exact time-domain likelihood estimation to frequency-domain approximate likelihood estimation. We show that over-differencing is of critical importance for time-domain maximum-likelihood estimation in finite samples. Overdifferencing moves the differencing parameter (in the over-differenced model) away from the boundary of the parameter space, while at the same time obviating the need to estimate the drift parameter. The two estimators that we compare are asymptotically equivalent. In small samples, however, the time-domain estimator has smaller mean squared error than the frequency-domain estimator. Although the frequency-domain estimator has larger bias than the time-domain estimator for some regions of the parameter bias, it can also have smaller bias. We use a simulation procedure which exploits the approximate linearity of the bias function to reduce the bias in the time-domain estimator.     

Can value-based stock selection criteria yield superior risk-adjusted returns: an application of neural networks

This study examines whether superior investment returns can be earned by using neural network modeling procedures to perform forecasts based on a set of financial ratios reflecting traditional value based investment strategies. The study covers a 20-year period. We find that the value ratio provides useful information that permits the selection of portfolios that provide investment returns superior to the DJIA and the S&P 500, and a group of randomly selected securities. The risk-adjusted returns for the portfolios selected by the neural network are greater than those achieved using other forecasting methods.     

Meta‐Regression Methods for Detecting and Estimating Empirical Effects in the Presence of Publication Selection*

This study investigates the small‐sample performance of meta‐regression methods for detecting and estimating genuine empirical effects in research literatures tainted by publication selection. Publication selection exists when editors, reviewers or researchers have a preference for statistically significant results. Meta‐regression methods are found to be robust against publication selection. Even if a literature is dominated by large and unknown misspecification biases, precision‐effect testing and joint precision‐effect and meta‐significance testing can provide viable strategies for detecting genuine empirical effects. Publication biases are greatly reduced by combining two biased estimates, the estimated meta‐regression coefficient on precision (1/Se) and the unadjusted‐average effect.     

Who's Who in Business Ethics: The Institute of Business Ethics — Ten Years

One of the best known business ethics resources in Britain is the Institute of Business Ethics, which this month celebrates its tenth anniversary. In wishing the Institute many more years of valuable service to the UK business community, we are indebted to its Director, Stanley Kiaer, for this chronicle of its first decade of activity. The Institute is situated at 12 Palace Street, London SW1E 5JA; tel (44) (0) 171 931 0495; fax (44) (0) 171 821 5819.     

Competitive strategy in the market-focused business

Market orientation is a business culture which enlists the participation of all employees for the purpose of creating superior value for its customers and superior performance for itself. A substantial body of research finds a positive relationship between a business's magnitude of market orientation and its performance. However, there has been no research into the competitive strategies through which a market-oriented business creates customer value. This paper extends previous work by showing that market-oriented businesses aggressively develop new products and services, focus on opportunities in market segments rather than in the mass market, and attempt to achieve competitive advantage both by increasing customer benefits and by reducing costs.