Modeling Disinterest and Dislike: A Bounded Bayesian Mixed Logit Model of the UK Market for GM Food

Mixed logit models represent a powerful discrete choice analytical model but require assumptions about the functional form of the parameter distributions. The use of unbounded distributions, such as the normal distribution, may be regarded as unsuitable where theory indicates that all are negatively affected by increases in an attribute, such as price. Bounded distributions such as the triangular and log-normal are unable to model the case where a section of the population is indifferent towards an attribute, while the remainder are negatively disposed toward it. Train and Sonnier’s bounded mixed logit model accommodates these features and is employed in this paper. A censored normal and Johnson’s S_b distribution are used to model preferences in the UK for food attributes, including price and GM technology. Bi-modal distributions are identified regarding GM food: some are unlikely to ever consume it, some are close to indifference and willing to consume at relatively small discounts while the remainder are fairly unresponsive to further price reductions.     

Developing theory from strategic management research in China

What are the main approaches to theory development based on strategic management research in China? What are some of the recent efforts in developing theory in this area? What is our recommended approach? To address these questions, this article outlines the three approaches to theory development in China research, articulates the Chinese context within the global economy, and highlights two streams of recent work as examples of following the recommended, integrative approach to theory development.     

Developing a process for the relative valuation of R&D programmes

This paper addresses the issue of R&D programme prioritisation within a manufacturing company in the aerospace industry, in the context of an overall framework for technology management. A review of approaches to R&D project selection leads into a recent case, which describes how the company developed a practical methodology. The benefits of the process and the relevance of the academic contribution are discussed, leading to a practical checklist for in-company development of a prioritisation process.     

Trends in British public investment

British public investment has declined sharply both as a share of GDP and as a share of government spending since the 1970s. Only part of this decline is explained by privatisation, which transferred some public investment to the private sector. More important was the very large and permanent reduction in public house‐building between the mid‐1970s and the early 1980s. Between the late 1980s and the early 1990s, the rate of public investment recovered somewhat, but after that time it declined again, reaching a record low in 1999. The most recent decline in public investment has affected a range of central government programmes, and it has not been significantly offset by investment under the Private Finance Initiative. The government now plans to increase investment spending, although levels look set to remain low by historical standards for some time to come.     

Foreign direct investment in OECD countries: a special focus in the case of Greece

Foreign Direct Investment (FDI) is considered as an important instrument for economic development all over the world. The aim of this paper is to examine the FDI inflows determinants for 24 OECD countries. To this end we employ annual data from 1980 to 2012 for a series of potential FDI determinants that have been identified as the most important by the relevant literature. Our empirical strategy employs both the standard fixed effects panel as well as a dynamic panel approach. The empirical findings highlight the importance of market size, trade openness, unit labor cost, schooling, taxation, gross capital formation, institutional variables, and ROA/ROE as significant FDI determinants. In the case of the dynamic panel model those FDI inflows determinants are not uniform for all country groups. Additionally, the results indicate that corporate tax rates clearly affect FDI attractiveness. This finding is robust when testing different countries subgroups. The present study has important policy implications indicating the factors that host economies should place emphasis on in order to attract FDI inflows. Policy makers should not only pay attention to the corporate tax rate level but they should also design a simple, stable and transparent taxation system that minimizes the relevant business risk.     

International market selection strategies of manufacturing and services firms

This paper discusses the entrepreneurial landscape in Africa and locates a new generation of African entrepreneurs and their business networks within it. Unlike others in that landscape (i.e. micro- or small-scale informal sector vendors, and traditional or multinational large-scale formal sector firms), the ‘new generation’ entrepreneurs are business globalists who organized a system of business enterprise networks consisting of national, regional, and pan-African organizations. The study analyses interview data from 57 men and women network members from 10 countries (Botswana, Ethiopia, Ghana, Kenya, Mali, Senegal, South Africa, Uganda, Zambia, and Zimbabwe). Some defining characteristics of these entrepreneurs are interactive social and business relationships, use of modern management methods and information technology, trust among fellow members, transparent business practices, advocacy on behalf of the private sector, and commitment to increasing intra-African commerce. Their mission is to improve the climate for private sector business in Africa and to promote regional economic integration. They pursue cross-national commercial ventures, maintain official observer status at established regional economic organizations, sign memoranda of understanding with multilateral agencies, establish venture capital funds, and help to change government policies. The paper identifies characteristics of the ‘new generation’ entrepreneurs, evaluates goals and achievements of their networks, and concludes that despite limitations, these entrepreneurs and their organizations have created intra- and cross-national networks that strengthen private-sector-led economic growth in Africa.     

Moving from Private to Public Ownership: Selling Out to Public Firms versus Initial Public Offerings

We study two alternative means to move assets from private to public ownership: through the acquisition of private companies by firms that are public (sellouts) or through initial public share offerings (IPOs). We consider firm-specific characteristics for 1,074 IPO and 735 sellout firms to identify differences in growth, capital constraints, and asymmetric information between the two types of transactions. Our results suggest that firms move to public ownership through an IPO when they have greater growth opportunities and face more capital constraints. We provide a better understanding of the firm-specific characteristics that lead firms to go public.     

CORPORATE GOVERNANCE AND VOUCHER BUY-OUTS IN RUSSIA

This paper examines the issues which may create pressures and incentives to introduce efficiency-enhancing governance structures in enterprises which are privatized through voucher schemes in Russia. These pressures emphasize the need to view buy-outs created on privatization as transitory organizational forms with a three-stage process being suggested as the most feasible for developing governance mechanisms which produce efficiency gains, The paper uses illustrative case studies of the first major enterprises to experience post-privatization ownership changes.     

The impact of (more) enlargement on the European Employment Strategy

The European Union (EU) aspires to be the most competitive, full employment economy in the world and has set a number of ambitious targets to be met by 2010 in order that it can achieve this goal. At the same time, it is pursuing an enlargement policy that will witness the accession of an increasing number of less developed nations. This article explores some of the tensions that exist between these two goals as these are manifest in labour market indicators and finds the likelihood of meeting the deadline set for success remote.     

Xilinx:在创新中前行

在过去的五年里,总部位于美国加利福尼亚San Jose Xilinx占价值达30亿美元的可编程逻辑器件(PLD)产品市场份额已经从30％窜升到50％,但是,Xilinx想要的更多。