In Which Industries is Collusion More Likely? Evidence from the UK

I examine the factors facilitating or hindering collusion using a comprehensive data set on the incidence of price–fixing across UK manufacturing industries in the 1950s. The econometric results suggest that collusion is more likely the higher the degree of capital intensity and less likely in advertising–intensive than in low–advertising industries. There is also some evidence of a non–monotonic relationship between market growth and the likelihood of collusion. There is no clear link between concentration and the incidence of collusion.     

Marketing and the law

Marketing decisions are particularly vulnerable to legal rulings made in both the courts and the legislatures. The effective management of those legal implications challenges the modern marketing professional. Grasping marketing’s overall legal environment, including its governing case law, regulatory statutes and future trends, is essential. This review will provide analysis of recent court cases and legislation with particular emphasis on creatively assisting the marketer’s management of the legal factor.     

Strategy and the research process: A comment

The purpose of this paper is to expand the discussion of the ‘state-of-the-science’ in strategy research. We critically examine the role that theory plays in strategic research, and describe the principles underlying good theory. From a philosophy of science perspective, we argue that: (1) both inductive and deductive methods are valid ways of generating theory; (2) the falsificationist perspective provides an inadequate model for describing the process of theory testing; and (3) managers, researchers, public policy-makers, the popular press, and the public at large all have important roles to play in the knowledge development process.     

Strategic Planning for High-Tech Product Development

A three-questionnaire DELPHI management issues study of technology management problems identifies the top 24 technology management problems of advanced-technology product companies. These problems are ranked in order of importance. Strategic planning for technology products is found to be the dominant problem. A striking theme of the findings is the extent to which several of the twenty four issues are related to this dominant problem. Arguably, not only is strategic planning the top technology management problem of product development in high-tech companies but it is also the cornerstone problem. Dealing effectively with this top problem will require attention to aspects of several others of the management problems. This article first examines the area of strategic planning in advanced-technology product development. It then summarizes the DELPHI study's findings and explores the central role among these findings of strategic planning for technology products. The next 10 problems in importance then are examined in the context of their relationship to the top issue of strategic planning for technology products.     

Innovation: The Five Disciplines for Creating What Customers Want by Curtis R. Carlson and William W. Wilmot

Books reviewed in this issue:

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  Innovation: The Five Disciplines for Creating What Customers Want

       

Differences in Factor Structures between U.S. Multinational and Domestic Corporations: Evidence from Bilinear Paradigm Tests

This research investigates the differences in factor structure between U.S. multinational and domestic corporations. We use a multifactor return generating process and investigate whether the constraints imposed by the arbitrage pricing theory are upheld. Our results indicate and domestic corporations are not significantly different. It does appear, however, that there are different prices attached to the risk of U.S. multinational and domestic firms.