The measurement of entry rates: Recondiseration and resolution

This paper extends the recent analysis of Audretsch and Fritsch on entry rates, and suggests a resolution to the possible policy confusion which they discuss. British data also show very different results for the determinants of entry depending on whether the ecological or labour market entry rate is used. It is shown that, in addition to the static, size-distribution effect discussed by Audretsch and Fritsch, there are dynamic factors at work which may lead to this result. However, there need be no conflict in policy signals arising from this, because the labour market approach can be shown to be a superior measure of entry rates where spatial analysis is undertaken.     

Effect of graphical presentations on insights into a company's financial position: an innovative educational approach to communicating financial information in financial reporting

This article focuses on the graphical presentation of the financial ratios of the firm. Following an earlier plea for visualizing the financial report based on pacioli's treatise Divina Proportione, this study investigates the benefits of visualizing and reports on an experiment into the significance of visual information, designed to compare visual and numerical financial information. The experiment was conducted with the help of third-year accounting students. The study demonstrates an alternative teaching method and indicates that this can be a very effective and stimulating process of accounting education and training. Further the co-operation between teacher and students makes an intersting contribution to the development of better accounting education and training. The exploratory research indicates that presentation of graphical information produces time-gains in comparison with numerical information alone. Memory plays a very important role here. The conclusion are: first, that visual information can be considered as very important in providing a clear insight into the financial position of the firm, thus improving communication; and second, that the integration of accounting research and teaching is a very promising way of preparing academically and professionally future accounting practitioners.     

On the opportunism-independent theory of the firm

Previous developments in the opportunism-independent theoryof the firm are either restricted to special cases or are derivedfrom the capabilities or resource-based perspective. However,a more general opportunism-independent approach can be developed,based on the work of Demsetz and Coase, which is neverthelesscontractual in nature. This depends on ‘direction’,that is, deriving economic value by permitting one set of actorsto direct the activities of another, and of non-human factorsof production. Direction helps to explain not only firm boundariesand organisation, but also the existence of firms, without appealingto opportunism or moral hazard. The paper also considers theextent to which it is meaningful to speak of ‘contractual’theories in the absence of opportunism, and whether this analysiscan be extended beyond the employment contract to encompassownership of assets by the firm.     

Demystifying the folklore of the accidental project manager in the public sector

Many individuals are called upon to undertake project management responsibilities with little or no preparation. Such project managers have been referred to as accidental project managers. This article examines the experiences of 46 accidental project managers within the Western Australian public sector through a questionnaire survey. Findings reveal that most project managers were selected based on their technical or managerial expertise and thus lacked the required competencies to deliver a project. There was a greater propensity for accidental project managers to act in a part‐time mode, undertake nontechnical projects, and be provided with limited training and education.     

Estimating statistical properties of political economic decisions

Revelation of criteria implicit in setting policy is addressed in a political economic framework that includes identification and estimation of unknown parameters in the presence of multiple sources of uncertainty. Policy formation is viewed as an optimization process under which the government maximizes a criterion function subject to market constraints. A method for estimating political criterion function weights and their associated standard errors over multiple time periods is presented. The approach is illustrated with an empirical example from Japanese rice and wheat trade policy.     

New product pricing strategy under customer asymmetric anchoring

Potential customers' willingness to pay (WTP) for a new product can be affected by their observing a posted price and this can be modeled in terms of an anchoring mechanism. A theoretical argument and mathematical proof are developed, showing that if customers use an asymmetric WTP anchoring mechanism, it will normally be optimal for firms to price higher than otherwise. Experimental evidence is provided supporting the notion that an asymmetric anchoring mechanism can be involved in purchase decisions.     

信息技术对美国医疗卫生服务系统的影响兼Kaiser案例研究

美国拥有世界上最昂贵的医疗服务体系,同时还存在很多问题和矛盾的地方,包括治疗结果不理想和高成本问题.为了说明信息技术对医疗卫生体系的影响,分析了一个案例,从组织结构、战略和实践方面,研究了美国最大的封闭医疗组织-Kaiser在应用信息技术方面的实践及所取得的初步成就.Kaiser的HealthConnect系统一开始表现出美国健康维护组织的未来前景,更重要的是它对于美国医疗体系的改革提供了很好的借鉴.     

Deregulation and price discrimination in the conveyancing market

Using data from a telephone survey of solicitors in England and Wales, this paper presents data on the impact of deregulation on price discrimination in 27 local conveyancing markets. It is concluded that variations in price discrimination can be explained not only by differences by firm and market structure but also by systematic differences in firm conduct. In particular, the nature of the response within different markets to deregulation in the legal profession (advertising and licensed conveyancers) has a significant effect on the extent of price discrimination.     

Implications of Seasonal Climate Forecasts on World Wheat Trade: A Stochastic, Dynamic Analysis

Improvements in seasonal climate forecasts have potential economic implications for international agriculture. A stochastic, dynamic simulation model of the international wheat economy is developed to estimate the potential effects of seasonal climate forecasts for various countries' wheat production, exports and world trade. Previous studies have generally ignored the stochastic and dynamic aspects of the effects associated with the use of climate forecasts. This study shows the importance of these aspects. In particular with free trade, the use of seasonal forecasts results in increased producer surplus across all exporting countries. In fact, producers appear to capture a large share of the economic surplus created by using the forecasts. Further, the stochastic dimensions suggest that while the expected long‐run benefits of seasonal forecasts are positive, considerable year‐to‐year variation in the distribution of benefits between producers and consumers should be expected. The possibility exists for an economic measure to increase or decrease over a 20‐year horizon, depending on the particular sequence of years. Le progrès des prévisions saisonnières du climat a une portée économique pour l'agriculture internationale. Un modèle stochastique et dynamique de l'économie internationale du blé est développé afin d'estimer les effets potentiels des prévisions saisonnières du climat sur la production de blé de divers pays, leurs exportations et le commerce mondial. Les études précédentes ont généralement ignoré les aspects stochastiques et dynamiques des effets liés à l'utilisation des prévisions climatiques. Cette étude montre l'importance de ces aspects. En particulier avec le libre échange l'utilisation de ces prévisions aboutit à l'augmentation des excédents dans tous les pays exportateurs. En fait, il apparaît que les producteurs accaparent une grande part de l'excédent économique créé par l'utilisation de ces prévisions. De plus, les dimensions stochastiques suggèrent que bien que les bénéfices à long terme des prévisions climatiques puissent être substantiels, on s'attend à des variations considérables d'une année à l'autre dans la distribution des bénéfices entre les producteurs et les consommateurs. Il est possible qu'un indicateur économique varie à la baisse sur 20 ans eus fonction de la séquence de variation climatique.