Content and advertising in the media: Pay-tv versus free-to-air

We compare the advertising intensity and content of programming in a market with competing media platforms. With pay-tv, media platforms have two sources of revenues, advertising revenues and revenues from viewers. With free-to-air, media platforms receive all revenues from advertising. We show that if viewers strongly dislike advertising, the advertising intensity is greater under free-to-air television. We also show that free-to-air television tends to provide less differentiated content whereas pay-tv stations always maximally differentiate their content. In addition, we compare the welfare properties of the two different schemes.     

Friending the taxman: On the use of social networking services for government eID in Europe

The provision of identities online continues to be a fiercely debated topic in policy circles, with proposals emerging for public sector organizations to leverage pre-existing social networking services for their own identity management purposes. Within the broader context of private sector organizations springing up as identity providers, this article explores — from a socio-legal perspective — the merits and drawbacks of using social networking services for government eID in Europe. It then reviews the present and future European policy environment concerning official use of social networking credentials. We focus specifically on legislative measures currently being proposed in the EU to facilitate the Identification, Authentication and Signature policy, within the scope of the ongoing Electronic Signatures Directive revision process and the launch of the proposed Electronic Trust Services Regulation.     

Organizational and technological antecedents for knowledge acquisition and learning

This paper examines the factors affecting the decision to acquire external technology and the relative importance of different technology acquisition strategies pursued by British and Japanese firms. The paper draws on a study of 38 firms, consisting of 23 UK-based and 15 Japanese firms. This is not a comparative study of British and Japanese technology acquisition strategies. Rather, we aim to identify common factors affecting the decision to acquire external technology and the means by which firms attempt to do this. We identify two clusters of variable which appear to affect the decision to acquire technology. Firstly, an organization's inheritance, which includes corporate strategy, competencies, culture and what we refer to as management's 'comfort' with the technology. Secondly, the characteristics of the technology to be acquired, specifically, its competitive impact, complexity, codifiability and what we refer to as 'credibility' potential. Together, these factors will determine the degree and nature of technology acquisition strategy. We find that contrary to the present academic preoccupation with alliances and joint ventures, the firms examined ranked universities, research consortia and licensing as the most important sources of external technology.     

Enabling control and the problem of incomplete performance indicators

To which extent do managers care about the design characteristics of performance indicators and other control systems? The paper examines this question with the help of the framework of enabling and coercive control. Drawing upon data from a longitudinal field study in a manufacturing organisation, we study operational managers’ attitudes towards the incompleteness of performance indicators. Managers are likely to perceive performance indicators as enabling if the latter facilitate their actions without unduly constraining them. This is true even for incomplete performance indicators as long as managers can handle these indicators in a flexible way, treating them as means rather than ends when carrying out their work. Our case also shows, however, how a flexible use of indicators becomes more difficult to sustain once top management signals an increased importance of the indicators. Incompleteness then becomes a more pressing concern for managers. We illuminate the various forms of top management sense-giving through which such tightening of control is achieved and we show how they translate into managers’ perception of the control system as being a coercive rather than enabling one. Taken together, the findings of the present paper add to our understanding of enabling and coercive forms of control and also extend previous studies that have addressed the problem of incomplete accounting information.     

财务报告:国际发展的回顾与前瞻

2001至2002年间,国际上在财务报告的领域有不少重大的变化,如:经重组的国际会计准则委员会(IASB)成为全球财务报告并轨的焦点; 欧盟已采取方案,要求所有在欧盟上市的公司遵循国际财务报告准则(IFRS);世界最大及最成熟的资本市场发生的企业倒闭,引起全球的注意,其中部分原因归咎于公司财务报告方面之缺陷。那么,在2003年,国际上在财务报告领域会有什么新的发展?各国会计准则与IFRS的并轨将有什么进展?在较实用的层面上,会计处理方法又会有什么新的修订和发展?并轨全球会计组织、监管机构及其他有关团体都同意财务报告及会计处理发展的方…     

How behavioural science can improve financial advice services

Evidence from the behavioural sciences, notably economics and psychology, has profoundly changed the way policymakers and practitioners view expert advice to consumers. In this article, we take stock of the behavioural science evidence on financial advice and explore its implications for the profession. We organise the evidence in a comprehensive theoretical framework that also serves a practical purpose: the design of behaviour change interventions. We suggest various ways in which financial advisers can use the insights from behavioural science to improve the take-up and effectiveness of their advice. Finally, we discuss ethical and practical considerations for the financial advisor wishing to put behavioural science knowledge to use.     

The Solvency II Process: Overview and Critical Analysis

As early as the 1970s, European Union (EU) member countries implemented rules to coordinate insurance markets and regulation. However, with the more recent movement toward a general single EU market, financial services regulation has taken on new meaning and priority. Solvency I regulations went into effect for member nations by January 2004. The creation of risk-based capital standards, the main focus of Solvency II, now appears likely sometime after 2007. The purpose of the discussion presented here is to outline the specifics of Solvency II as they currently stand and suggest important areas of future research.     

Labor Earnings in One-Company Towns: Theory and Evidence from Kazakhstan

One-company towns, characterized by the presence of a largeemployer in a local labor market, are a frequent legacy of state-leddevelopment strategies. How will downsizing or closing unprofitablestate-owned enterprises affect these towns?This article developsa simple model combining monopsony power in the labor marketwith a Keynesian closure of the product market and uses it tointerpret the findings of previous studies. The article evaluatesthe impact of the company's employment level on the town's laborearnings in Kazakhstan, where one-company towns are still prevalent.The evaluation is based on data from the 1996 Living StandardsMeasurement Survey. The results show that labor earnings inthe town decrease roughly 1.5 percent when the share of itspopulation working for the company decreases 1 percent. Theresults are robust to changes in the definition of labor earningsand to the inclusion of a variety of other community characteristicsin the analysis. These results and the theoretical model arecombined to evaluate the welfare impact of company downsizingand, consequently, to derive the optimal extent of labor retrenchment.     

British Steel: retrospect and prospect

Martin Upham assesses the ability of BSC to survive its present crisis in the context of the immediate consequences of the recent thirteen week strike and the key long-term decisions which have been taken by governments and the Corporation over the past ten years.