The relative economic performance of foreign subsidiaries in UK manufacturing

This paper compares the economic performance of UK and foreign-owned firms in UK manufacturing industry. A panel data set covering 14 233 firms for the period 1992–1996 is used and the influences of firm-, industry- and country-specific advantages on productivity are examined. The results of the study show that labour productivity is higher in foreign subsidiaries than in UK firms and that foreign subsidiaries as a whole employ higher levels of human capital and enjoy greater economies of scale. A further source of productivity advantage for US subsidiaries is their higher level of intangible assets, and for European and Japanese subsidiaries their higher level of capital intensity. The results have policy implications for the targeting of promotion activities to attract FDI.     

Reshoring: a strategic renewal of luxury clothing supply chains

This paper contributes to the emerging literature on reshoring by taking a value-driven enquiry into the renewal of supply chain strategy. It enhances the understanding of the use of reshoring in generating the value demanded by a changing business model. An iconic British high-end clothing brand, Burberry, is the chosen case study to explore the recent move towards reshoring because its changes of leadership, business model and evolving supply chain strategy from 1997 to early 2016 provide a timely and pertinent context. Burberry has continued to realign its business towards a brand-led and customer-centric model along with restoring its corporate heritage and core brand values. The changes in Burberry’s business model triggered the need to renew and realign its supply chain strategy through consolidating and rebuilding manufacturing activities back in the UK, in order to support its brand repositioning as quintessentially British and the company’s refocus on heritage products. The increased managerial control in the supply chain together with the close proximity of design and manufacture enables the promise of quality and brand provenance to be fulfilled. The renewal of Burberry’s supply chain strategy has contributed to an increase in revenues and brand values. These findings suggest that the renewal of supply chain strategy through reshoring and increasing control in supply chain operations can enhance value and firm competitiveness.     

Collaborative Network Capacity

Abstract

This article argues that collaborative network success is a function of having the necessary social, knowledge, and financial capital, and the capacity to manage that capital through collaborative governance and knowledge management. This theory is examined through a comparative case study of two early childhood/school readiness networks. The evidence suggests that both collaborative governance and knowledge management enable collaborative networks to use their resources wisely and that organizational commitment to the network, the role of data collection and sharing, and the challenges of information technology all bear further investigation as important components of collaborative network capacity.     

Aggregate risk sharing and equivalent financial mechanisms in an endowment economy of incomplete participation

Summary. A pure endowment overlapping generations economy can be inefficient because of insufficient risk sharing. The introduction of an outside asset by a government or the existence of a clearing house can remedy the inefficiency by allowing some intergenerational risk sharing. While the typical outside asset is fiat money, many alternative financial mechanisms, such as social security, risk-free government bonds, mispriced deposit insurance, and income insurance can serve the same function as fiat money. Hence there are many equivalent financial mechanisms that provide intergenerational insurance. In the presence of uncertainty, there are several concepts of Pareto optimality that can be appropriately applied in an overlapping generations setting. I examine the risk-sharing arrangements associated with two different concepts of optimality, including how these arrangements are financed. The results are related to, and in some instances an extension of, the equivalence results obtained by Chamley and Polemarcharkis (1984), Weiss (1977), and Wallace (1981).Received: 4 March 2003, Revised: 30 January 2004JEL Classification Numbers: E40, E44, D51.P. Labadie: I would like to thank the participants of the Economic Theory Symposium Recent Developments in Money and Finance at Purdue University, May 2-4, 2003 and an anonymous referee for comments on this version. I am grateful to Bruce Smith for comments on an earlier version.     

Non‐parametric bounds on quantiles under monotonicity assumptions: with an application to the Italian education returns

Within the inferential context of predicting a distribution of potential outcomes P[y(t)] under a uniform treatment assignment t ∈ T, this paper deals with partial identification of the α‐quantile of the distribution of interest Q_α[y(t)] under relatively weak and credible monotonicity‐type assumptions on the individual response functions and the population selection process. On the theoretical side, the paper adds to the existing results on non‐parametric bounds on quantiles with no prior information and under monotone treatment response (MTR) by introducing and studying the identifying properties of α‐quantile monotone treatment selection (α‐QMTS), α‐quantile monotone instrumental variables (α‐QMIV) and their combinations. The main result parallels that for the mean; MTR and α‐QMTS aid identification in a complementary fashion, so that combining them greatly increases identification power. The theoretical results are illustrated through an empirical application on the Italian returns to educational qualifications. Bounds on several quantiles of ln(wage) under different qualifications and on quantile treatments effects (QTE) are estimated and compared with parametric quantile regression (α‐QR) and α‐IVQR estimates from the same sample. Remarkably, the α‐QMTS & MTR upper bounds on the α‐QTE of a college degree versus elementary education imply smaller year‐by‐year returns than the corresponding α‐IVQR point estimates. Copyright © 2010 John Wiley & Sons, Ltd.     

Connections between Survey Calibration Estimators and Semiparametric Models for Incomplete Data

Survey calibration (or generalized raking) estimators are a standard approach to the use of auxiliary information in survey sampling, improving on the simple Horvitz–Thompson estimator. In this paper we relate the survey calibration estimators to the semiparametric incomplete‐data estimators of Robins and coworkers, and to adjustment for baseline variables in a randomized trial. The development based on calibration estimators explains the “estimated weights” paradox and provides useful heuristics for constructing practical estimators. We present some examples of using calibration to gain precision without making additional modelling assumptions in a variety of regression models.     

Burned by Bullying in the American Workplace: Prevalence,Perception, Degree and Impact*

abstract This study assesses the prevalence of workplace bullying in a sample of US workers, using a standardized measure of workplace bullying (Negative Acts Questionnaire, NAQ), and compares the current study's prevalence rates with those from other bullying and aggression studies. The article opens by defining bullying as a persistent, enduring form of abuse at work and contrasting it with other negative workplace actions and interactions. Through a review of the current literature, we propose and test hypotheses regarding bullying prevalence and dynamics relative to a sample of US workers. After discussing research methods, we report on the rates of bullying in a US sample, compare these to similar studies, and analyse the negative acts that might lead to perceptions of being bullied. Based upon past conceptualizations, as well as research that suggests bullying is a phenomenon that occurs in gradations, we introduce and provide statistical evidence for the construct and impact of bullying degree. Finally, the study explores the impact of bullying on persons who witnessed but did not directly experience bullying in their jobs.     

Collective Action with Incomplete Commitment: Experimental Evidence

Face-to-face communication is investigated as an efficiency-enhancing mechanism in experimental common-pool resource environments in which the appropriation activities of outside appropriators create coordination and monitoring problems for the communicating group. We identify three distinct problems that can threaten successful collective action. Outsiders respond strategically to reductions in appropriation by cooperating group members. Members of the communicating group deviate from agreements more frequently when monitoring is imperfect and over appropriation can be blamed on outsiders. Groups that are allowed to communicate anticipate the potential problems and have difficulty reaching agreements or committing to a specific appropriation rule.