A quantitative approach to stakeholder interests

In an age when the role, behaviour and performance of the firm are under greater scrutiny than ever before, it is important to pursue quantitative empirical research in the area of social auditing. Using data relating to one particular company, the various inputs and outputs attributable to the firm's different stakeholders, (shareholders, employees, consumers and the community) are examined and corresponding rates of return calculated. Considerable methodological and data problems arise and consequently the results need careful interpretation.     

OR vice: Forecasting and classification techniques for narcotics interdiction

Counternarcotics interdiction efforts have traditionally relied on historically determined sorting criteria or “best guess” to find and classify suspected smuggling traffic. We present a more quantitative approach which incorporates customized database applications, graphics software and statistical modeling techniques to develop forecasting and classification models. Preliminary results show that statistical methodology can improve interdiction rates and reduce forecast error. The idea of predictive modeling is thus gaining support in the counterdrug community. The problem is divided into sea, air and land forecasting, only part of which will be addressed here. The maritime problem is solved using multiple regression in lieu of multivariate time series. This model predicts illegal boat counts by behavior and geographic region. We developed support software to present the forecasts and to automate the process of performing periodic model updates. During the period, the model was in use at. Coast Guard Headquarters. Because of deterrence provided by improved intervention, the vessel seizure rate declined from 1 every 36 hours to 1 every 6 months. Due in part to the success of the sea model, the maritime movement of marijuana has ceased to be a major threat. The air problem is more complex, and required us to locally design data collection and display software. Intelligence analysts are using a customized relational database application with a map overlay to perform visual pattern recognition of smuggling routes. We are solving the modeling portion of the air problem using multiple regression for regional forecasts of traffic density, and discriminant analysis to develop tactical models that classify “good guys” and “bad guys”. The air models are still under development, but we discuss some modeling considerations and preliminary results. The land problem is even more difficult, and data collection is still in progress.     

Causal ordering and ‘The bank lending channel’

The bank lending channel implies the Federal Reserve can influence real income by controlling the level of intermediated loans. Using the notion of causality developed by Simon (1953) and the causal order methodology developed by Hoover (1990), I test for an operative bank lending channel in the transmission mechanism of monetary policy. I find loans did cause real income; there is evidence that a bank lending channel did exist in the 1960s. The data appears to show, however, that by the early 1990s the bank lending channel was no longer operative. © 1998 John Wiley & Sons, Ltd.     

Input–Output Structural Decomposition Analysis: A Critical Appraisal

Over the past decade, input–output structural decomposition analysis (SDA) has developed into a major analytical tool. We review the development of SDA and its relationship to other methodologies. We present the fundamental principles of alternative approaches to deriving SDA estimating equations and explore the various decompositions of changes in IO tables. We also identify several complications and unresolved issues. Most importantly, we find that a rigorous grounding in economic theory is lacking for SDA, but we are able to offer some suggestions as to how it might be established.     

The Spillover Effect of SEC Comment Letters on Qualitative Corporate Disclosure: Evidence from the Risk Factor Disclosure

In this study we use the recently mandated risk factor disclosure to examine the spillover effect of the Securities and Exchange Commission (SEC) review of qualitative corporate disclosure. We find that firms not receiving any comment letter (“No‐letter Firms”) modify their subsequent year's disclosures to a larger extent if the SEC has commented on the risk factor disclosure of (i) the industry leader, (ii) a close rival, or (iii) numerous industry peers. We refer to this effect as “spillover.” Further, we find that after SEC comments on the industry leader's disclosure, No‐letter Firms also provide more firm‐specific disclosures in the subsequent year. The increased disclosure specificity reduces these firms’ likelihood of receiving SEC risk disclosure comments on their new filings. Our evidence suggests an indirect effect of the SEC review of qualitative disclosure.     

Promoting competition and protecting customers? Regulation of the GB retail energy market 2008–2016

Journal of Regulatory Economics - In 1999 the GB retail energy market was open to competition for residential customers. In 2008 Ofgem began a series of regulatory interventions, notably a...     

Charleston's newfound “entertainment zone”: should we be concerned?

This CIT Research Letter addresses issues related to the night-time economy and the rapid proliferation of bars along a section of a tourism oriented city's main street. Merely 10 years ago, locals did not frequent the area, it was of no interest to tourists, and it was regarded as a neighbourhood where one would not want to walk, especially at night. However, with the area's transformation to the nightlife centre of the city, issues have arisen that are of concern to city government officials. This paper considers these concerns.     

'High-performance' Management Practices, Working Hours and Work–Life Balance

The effects of selected high‐performance practices and working hours on work–life balance are analysed with data from national surveys of British employees in 1992 and 2000. Alongside long hours, which are a constant source of negative job‐to‐home spillover, certain ‘high‐performance’ practices have become more strongly related to negative spillover during this period. Surprisingly, dual‐earner couples are not especially liable to spillover — if anything, less so than single‐earner couples. Additionally, the presence of young children has become less important over time. Overall, the results suggest a conflict between high‐performance practices and work‐life balance policies.     

Implementing Lean Sigma in pharmaceutical research and development: a review by practitioners

The authors recount their experience of the implementation of lean thinking and Six Sigma in pharmaceutical development research and development (R&D). Use of Lean Sigma in pharmaceutical manufacturing is widespread and generally noncontentious. Lean Sigma is used successfully to improve the development of new pharmaceutical manufacturing processes. However, the value of the application of lean and Six Sigma ideas to research & development is controversial. Published material is reviewed, and then the methods, tools, barriers and benefits are discussed, with recommendations for implementation of Lean Sigma into an R&D organisation.