Got milk? The rapid rise of China’s dairy sector and its future prospects

This paper synthesizes recent research and new empirical findings to build a more comprehensive understanding of developments in China’s dairy sector. China’s tremendous rise in dairy demand has been driven by several mutually reinforcing factors: including rapid income growth, promotion by the government and dairy industry, changes in urban lifestyles, and the development of new, more sophisticated marketing channels. Domestic milk output has grown to satisfy rising demand largely by increasing the dairy herd. Substantial increases in productivity have been achieved through technology adoption, but there is evidence that the torrid growth has created inefficiencies because adaptations to marketing rules, infrastructure, and institutions have not kept pace with the changing environment. These results suggest there is ample room for future growth in both domestic milk production and dairy demand, but multinational firms and imported products will likely play and increasing role as China’s dairy market continues to develop.     

Taxing transactions in futures markets: Objectives and effects

In the last few years various legislative proposals have been made to impose a transaction or excise tax on securities and derivative market transactions. Although there have been considerable discussion and analysis of the wisdom of imposing such a tax on securities markets, there has been no analysis of the pros and cons of extending the tax to futures markets. This article attempts to fill this gap, first, by examining the various rationales advanced to support a tax on securities markets to determine their applicability to futures markets and, second, by analyzing the likely effects of the tax on the competitiveness and efficiency of futures markets. In addition, the revenue-raising potential of a tax on futures transactions is evaluated. I conclude that a tax on futures markets will not achieve any important social objective and will not generate much revenue.     

Emerging markets, evolving institutions, and the new opportunities for growth in China's rural economy

In this essay, our goal is to assess the state of China's rural economy and examine whether rural China is capable of participating in the sequence of economic events that will lead to modernization. We examine how agricultural productivity has changed, the nature of the shift of labor moving from rural to urban areas, how commodity markets have evolved, and how the rural industrial sector is adjusting the recent reforms. According to our own work and that of others, we show how the rural economy is beginning to be fundamentally transformed and is contributing to China's modernization.     

MANAGING VENDOR INVENTORY IN A DUAL LEVEL DISTRIBUTION SYSTEM

Collaborative arrangements among members of the supply chain have received a great deal of interest in recent years as a means of reducing costs. One such arrangement is vendor managed inventory (VMI). VMI allows the vendor to make decisions concerning the quantity and timing of deliveries to the retailer. Such an arrangement offers the potential of a more efficient supply chain by removing the negative effects of retail ordering policies. A thorough review of the literature was conducted to identify factors likely to impact the performance of a VMI partnership. Computer simulation was used to study the effects of these factors from both the vendor's and retailer's perspectives. The results lend insight into the performance of VMI and guidance for managers as to the environments in which VMI is most effective.     

The impact of skewness in the hedging decision

The impact of skewness in the hedger's objective function is tested using a model of hedging derived from a third‐order Taylor Series approximation of expected utility. To determine the effect of price skewness upon hedging and speculation, analytical results are derived using an example of cotton storage. Findings suggest that when forward risk premiums and price skewness in the spot asset have opposite signs, speculation increases relative to the mean‐variance model. When the signs are identical, speculation will decrease, contradicting findings of mean‐variance models. © 2006 Wiley Periodicals, Inc. Jrl Fut Mark 26:503–520, 2006     

Human resource management,union voice and the use of discipline: an analysis of WIRS3

Three outcomes of personnel practice (rates of discipline, quitting and absence) are analysed. There was no firm association with measures of practices associated with Human Resource Management. By contrast, unionisation was strongly associated with the low use of discipline and low quit rates: union ‘voice’ remains influential in the 1990s.     

Effects of demographic,experiential, and attitudinal factors on occupational sex stereotypes

The purpose of this study was to (a) compare the occupational sex stereotypes of 366 college students with those reported by Shinar in 1975, and (b) examine the relationships between demographic, experiential, and attitudinal variables and these occupational sex stereotypes. The results indicated a significant difference in occupational ratings from Shinar's study, with females' perceptions shifting more than males' perceptions. In addition, subjects' gender, tenure with female managers, and attitudes toward women as managers, were shown to be significant predictors of occuptational ratings. The implications of these findings for both employees and managers are then discussed.     

Electronic data interchange: a strategic approach

The potential of EDI is virtually unlimited, but the success of any EDI initiative hinges on its ability to directly support strategies that achieve your institution's business objectives. At its most fundamental level, EDI technology automates current business practices, speeding up the exchange of business information. This application of EDI most often is found in a hospital's material management department. But EDI integrated internally within a hospital and externally with suppliers and vendors has the potential to go beyond simple automation and to transform processes. This is where the full value of EDI can be realized. No matter which level of EDI participation hospital management decides is appropriate to fulfill its business objectives and strategies, EDI will affect the entire institution's exchange of information with its internal and external audiences. The question management must answer is: Will the hospital's EDI strategy be offensive and managed, or defensive and reactive? Today's environment leaves no room for a "no-strategy" EDI option. The options are either to proactively shape EDI, or reactively play catch-up. EDI can work for you. Adequately developing an EDI game plan in support of your business objectives and calling on your suppliers and other trading partners to work with you will ensure EDI is an asset to your facility.     

Contrast enhancement of the gastrointestinal tract on MR images using intravenous gadolinium-DTPA

Gadopentetate dimeglumine was administered intravenously to 16 patients undergoing abdominal magnetic resonance (MR) imaging. T1-weighted and fat-suppressed T1-weighted images were acquired before and after intravenous administration of 0.1 mmol/kg gadopentetate dimeglumine. The stomach, small bowel, and colon were analyzed regarding the presence and relative intensity of contrast enhancement. Diffuse enhancement of the gastrointestinal tract wall was observed in all patients following contrast material administration. Such enhancement was most conspicuous on fat-suppressed T1-weighted images. Quantitative measurements indicated that the wall of the gastrointestinal tract enhanced approximately 100% with gadopentetate dimeglumine. This study demonstrates that enhancement of the normal gastrointestinal tract occurs routinely when intravenous gadopentetate dimeglumine is administered, and such enhancement should not be considered indicative of gastrointestinal pathology. Furthermore, it suggests the potential utility for using intravenous rather than orally administered contrast agents to provide enhancement of the gastrointestinal tract on MR images.