The measurement of left-right and libertarian-authoritarian values: A comparison of balanced and unbalanced scales

In this paper we compare the performance of balanced and unbalanced Likert scales of two core dimensions of political attitudes: left-right and libertarian-authoritarian values. The balanced scales control for the effects of acquiescence response sets, whereas the unbalanced scales do not. Using data from two panel surveys, balanced and unbalanced scales are compared for reliability, stability and validity both with each other, and with other measures of political ideology and values (left-right self-placement and postmaterialism). Both balanced and unbalanced versions of the left-right and libertarian-authoritarian Likert scales are found to be more stable and strongly associated with social characteristics than are the other measures. The unbalanced scales have slightly higher reliability than the balanced scales; they are also orthogonal, whereas balanced left-right and libertarian-authoritarian scales are moderately correlated. Unbalanced scales also display a slightly stronger relationship with social characteristics, but they do not differ in their pattern of association with political preferences. Differences between balanced and unbalanced scales are attributed to the effects of acquiescence bias. This needs to be considered when using the scales for substantive analyses, but its effects are not problematic.     

Circuit Breakers with Uncertainty about the Presence of Informed Agents: I Know What You Know … I Think

This study conducts experimental asset markets to examine the effects of circuit breaker rules on market behavior when agents are uncertain about the presence of private information. Our results unequivocally indicate that circuit breakers fail to temper unwarranted price movements in periods without private information. Agents appear to mistakenly infer that others possess private information, causing price to move away from fundamental value. Allocative efficiencies in our markets are high across all regimes. Circuit breakers perform no useful function in our experimental asset markets.     

Macroenvironmental forces,marketing strategy and business performance: A futures research approach

A method of futures research is used to empirically test a structure-conduct-performance (SCP) model in a marketing setting. It is proposed that within the macroenvironment there exist, varying levels of resource constraints and structural fluctuations which are positively correlated. Increased resource constraints and structural fluctuations, which are characteristics of a turbulent environment, are expected to increase the competitive intensity is an industry. This higher level of competitive intensity is hypothesized to result in increased use of nonprice marketing strategies. Nonprice marketing strategies are also expected to increase business performance because of the contingency relationship between conduct (strategy) and performance. The possible role of “blind” luck or stochastic processes in determining success is also discussed.     

DIVISIONALIZATION,DECENTRALIZATION AND PERFORMANCE OF LARGE UNITED KINGDOM COMPANIES 1

Questionnaire survey data from 144 large U.K. firms are used to describe and discuss the nature of organization design in major companies. It was found that the majority of firms were multidivisional. However a considerable variation in internal operating procedures was found which emphasized that many multidivisional companies do not behave in the way that the strategy/structure literature predicts. Empirical testing of the relation between structure and financial performance also emphasizes that divisionalization is not necessarily the key to a superior profit performance. Rather it would appear that organizational procedures need to be reconsidered in the light of recent divisional structures established in many companies. It is argued that a powerful divisional head office may weaken overall performance and that instead greater attention should be paid to the opportunity to decentralize operating decisions to the individual business units within each division.     

Are more resources always better for growth? Resource stickiness in market and product expansion

We examine how managerial growth logics combine with financial and human resource slack to influence the short‐term revenue growth of a sample of 112 manufacturing firms drawn from a unique database provided by the Ewing Marion Kauffman Foundation. Our results provide evidence that firms pursuing product expansion logics generally grow more slowly than firms that are not expanding their product base, but that financial slack positively moderates this relationship. We also find that human resource slack enhances short‐term market expansion, but slows down short‐term product expansion. We discuss the implications of these results for resource‐based views of growth. Copyright © 2004 John Wiley & Sons, Ltd.     

China's foreign trade policy and world trade organization membership

This paper provides an overview of China's major economic reforms and how they impacted certain key domestic economic indicators such as income, production, employment, and prices. More importantly, the paper concentrates on China's foreign trade focusing on such issues as import and export policies, exchange rate controls, foreign investments, balance of payments, traded commodities, and major trading partners. China's chance of becoming a member of the World Trade Organization is also addressed.