Making the Country Work for the City: Von Thünen's Ideas in Geography, Agricultural Economics and the Sociology of Agriculture

Geography, as the discipline responsible for describing the organization of space, has developed several ways of dealing with the phenomenon of the central city and its surrounding hinterlands. One of the most prominent of models used is von Thünen's Isolated State, a predictive model of how rural hinterlands organize agricultural production in relation to an urban center. Despite today's globalized food provisioning system, there are still some agricultural commodities that remain in U.S. city hinterlands. The most prominent of these is milk. The spatial organization of dairying is therefore a topic in which von Thünen's notions of centrality are still pertinent. In addition, outside of geography, his ideas had a significant effect on the agricultural economists who formulated dairy marketing policy. This paper will examine von Thünen and notions of centrality in the formulation of dairy policy in the United States. His contribution has been very important to agricultural economists and agricultural geographers but less important to sociologists of agriculture, who see the spatial organization of food production around cities due as much to contingent, local political outcomes as to law-like notions of centrality. Comparative historical method in sociology has been particularly useful in determining the role of predictive models and contingency in determining the spatial organization of milksheds.     

THE LABOUR MARKET IMPACT OF THE UK DISABILITY DISCRIMINATION ACT: EVIDENCE FROM THE REPEAL OF THE SMALL FIRM EXEMPTION

This paper uses data from the Quarterly Labour Force Survey in the UK (1997–2006) and changes in the coverage of the Disability Discrimination Act (DDA), that result from the removal of the small firm exemption, to assess the labour market impact of the legislation. The data support a narrowing of the employment gap between the disabled and non‐disabled over the post DDA period. However, the evidence based on small firms does not support this being a direct result of the employment provisions of the DDA.     

A computable general equilibrium model of the southern region of Taiwan: the impact of the Tainan science-based industrial park

This paper examines the impact of productivity on pay within academia, drawing upon a detailed dataset of academics from five old established universities. Results outline the importance of publication; grant receipt and teaching quality in the determination of pay. A large financial penalty to time out of the profession is revealed, which, with productivity variables, explains away the gender salary gap. The relationship between teaching and research is investigated, and we find some evidence in support of the hypothesis that productive researchers are successful teachers. Results on reservation salary suggest that the best academics are willing to stay within the profession.     

保罗·柯磊洛 玩转投行业务

他帮助瑞士信贷集团投资银行部度过了全球金融危机的重创，依靠自己坚定的信念抗击病魔。他就是保罗·柯磊洛——瑞士信贷集团投资银行部新进主席。     

Option market liquidity: Commonality and other characteristics

This study examines option market liquidity using Ivy DB's OptionMetrics data. We establish convincing evidence of commonality for various liquidity measures based on the bid–ask spread, volumes, and price impact. The commonality remains strong even after controlling for the underlying stock market's liquidity and other liquidity determinants such as volatility. Smaller firms and firms with a higher volatility exhibit stronger commonalities in option liquidity. Aside from commonality, we also uncover several other important properties of the option market's liquidity. First, information asymmetry plays a much more dominant role than inventory risk as a fundamental driving force of liquidity. Second, the market-wide option liquidity is closely linked to the underlying stock market's movements. Specifically, the options liquidity responds asymmetrically to upward and downward market movements, with calls reacting more in up markets and puts reacting more in down markets.     

Processing Difficulty Increases Perceived Competence of Brand Acronyms

Unlike previous work that shows that processing fluency leads to positive evaluations, the present research demonstrates that processing difficulty can lead to positive inferences of a brand. In three experiments, we show that when a brand acronym is difficult to pronounce, it is evaluated favourably with respect to competence relative to warmth. In contrast, easy‐to‐pronounce acronyms are perceived as similarly warm and competent. We find that individuals perceive a difficult‐to‐pronounce acronym to be more psychologically distant than an easy‐to‐pronounce one. Furthermore, they perceive competence as a more fitting characteristic of a distant brand than warmth is. We find that this relative fit of competence over warmth results in higher competence evaluations. Theoretical and applied contributions of the findings are discussed. Copyright © 2018 ASAC. Published by John Wiley & Sons, Ltd.     

莱昂内尔·津苏理论家？实干家？

在2009年夏天一举成为法国著名并购公司PAI掌门人的莱昂内尔·津苏，正在用实际行动一点点平复从未间断的质疑声。     

全球十大投行换位的背后

由普罗维登斯资本主导的价值512亿美元的收购案在2008年圣诞节前宣告失败，2005年至2007年这段大型并购的繁荣时期也随之落幕，由此银行业也开始转变业务重心。2008年欧洲最大的杠杆收购案要数瑞典北欧资本（NordicCapital）和美国艾维斯塔资本伙伴（AvistaCapitalPartners）联手收购英国上市公司百时美施贵宝（Bristol-MyersSquibbCompany）旗下的医疗技术公司ConvaTec。     

A new propensity to trust scale and its relationship with individual well‐being: implications for HRM policies and practices

In the on‐going debate around HRM and performance, there is an argument that greater attention should be paid to understanding the role that employee attitudes, attributes and behaviours play. Emerging research suggests that trust and well‐being are two aspects that could contribute to this debate. Research has shown some relationships between trust and well‐being. However, this has tended to omit consideration of an individual's propensity to trust due to lack of suitable measures. This paper explores the relationships between propensity to trust and well‐being by means of a study of 458 managers using a newly developed instrument to assess propensity and established well‐being scales. Analyses of the results demonstrate a reliable measure of propensity and a range of positive relationships. The potential implications for HR policies and practices of a measure of propensity are discussed. In particular, application in the areas of selection and development are highlighted.     

Practitioners' perspectives on the UK cost of capital

The aims of this study were to determine how UK finance practitioners derive and review the cost of capital, and to ascertain whether the final figure varied with the choice of method. To investigate behaviour in the real world a survey questionnaire was employed, eliciting responses from the finance directors of 193 UK quoted firms. The results suggest that the cost of capital calculation is subject to wide variation across firms, both with regard to the overall figure and the precise computation of its components. The intuitive appeal of the WACC and CAPM approaches appears to ensure their continued popularity in the real world. However, firms tend not to make all of the adjustments to the overall figure which academics might expect, only making simple adjustments for risk and the tax advantage to debt. The after-tax money cost of capital which is approximately 10%, is influenced by the choice of method, and firms do not appear to revise their overall cost figure rapidly in response to the environment. The cost of capital decision is of such strategic importance for the longer-term maintenance and expansion of firm value that it is nearly always made within the domain of the board of directors.