Faculty perceptions of online homework software in accounting education

Emerging technologies are providing a variety of tools for accounting educators. One of these tools is Online Homework Software (OHS). This study collects survey data from accounting faculty in the U.S.A. who were queried as to the utilization and perception of OHS in undergraduate accounting courses. Analysis of the survey data indicated five differences between OHS users and nonusers: (1) years of teaching, (2) number of course sections taught, (3) Accounting AACSB accreditation status, (4) faculty rank, and (5) courses taught by the respondents. Faculty indicated the tool is helpful when teaching in the online format and that OHS saves faculty time by reducing the time spent grading and processing student work. Users of OHS raised concerns about whether and how the tool helps students learn, how the students view the tool, and the cost of OHS. The data reported in this study are relevant to educators who have never used OHS as well as those who are currently using OHS. The data collected is important in promoting dialog concerning OHS usage and developing recommendations for continued improvements in the software.     

Does Local Co-operation Matter? Evidence from Industrial Clusters in South Asia and Latin America

Comparing the Korean labour productivity growth in the last two decades with the Japanese and US labour productivity growth, data confirm a process of catching up in several important manufacturing sectors. The paper investigates its determinants using a non-neoclassical model. Investments in skills and capabilities are found to be crucial in explaining this trend. Important policy implications for developing countries are then discussed. In the long run, a targeted education policy with government intervention and a strong emphasis on technical education can give high pay-offs. This conclusion holds in particular when the aim of the country is to compete in the international markets, not along the low road to competitiveness, based on squeezing wages and profit margins, but along the high road (i.e. improving productivity, wages and profits).     

Strategic timing in R&D agreements

We study the endogenous formation of R&D agreements in a R&D/Cournot duopoly model with spillovers where also the timing of R&D investments is endogenous. This allows us to consider the incentives for firms to sign R&D agreements over time. It is shown that, when both R&D spillovers and investment costs are sufficiently low, firms may find difficult to maintain a stable agreement due to the strong incentive to invest noncooperatively as leaders. In this case, the stability of an agreement requires that the joint investment occurs at the initial stage, thus avoiding any delay. When spillovers are sufficiently high, the coordination of R&D efforts becomes a profitable option, although firms may also have an incentive to sequence noncooperatively their investment over time. Finally, when spillovers are asymmetric and knowledge mainly leaks from the leader to the follower, investing as follower may become extremely profitable, making R&D agreements hard to sustain unless firms strategically delay their joint investment in R&D.     

Supply Chain Finance: A supply chain-oriented perspective to mitigate commodity risk and pricing volatility

This study addresses the Supply Chain Finance challenge of Commodity Price Volatility (CPV) by adopting a supply chain-oriented perspective. In particular, the effectiveness of two Supply Chain Risk Management (SCRM) strategies in mitigating CPV, namely, Switching suppliers and Substituting Commodities, and the main factors that may affect their value, are investigated with a simulation analysis. A Real Option Valuation (ROV) model was developed and tested on real cases of CPV mitigation, as experienced by a large multinational company (Fortune 100) leader in the Fast Moving Consumer Goods (FMCG) industry. The results show the effectiveness of Switching suppliers and Substituting Commodities in mitigating CPV, highlighting that the convenience of adopting such strategies is strongly influenced by some specific conditions, like the relative values of the long-term prices of the commodities, the purchasing volume, and the sunk cost needed to build flexibility.     

Teaching across disciplines: using collaborative instruction in undergraduate education

Learning communities (LCs) are one example of collaborative instruction used in undergraduate and graduate level courses. This paper discusses the development and delivery of this collaborative instruction and learning model to teach economics principles and finance courses at Nassau Community College (NCC), a suburban two-year college in New York.     

Foreword from the Co-Editors

MOCT-MOST: Economic Policy in Transitional Economies -     

Mind-Dependence. The Past in the Grip of the Present

Synopsis Recent developments in economic literature have pointed out that path-dependence has a cognitive dimension. The paper shows how this result may be analyzed in more depth, by making explicit the links between the properties of path-dependent processes in economics and the functioning of the mind. Through the investigation of memory mechanisms, we explain why human beings might be considered as complex systems whose growth follows a stochastic and non-ergodic dynamic. Our main claim is that the concept of path-dependence, as commonly interpreted, does not take the reconstructive nature which characterizes human memory into full account. When such nature is acknowledged, the relevance of the mind in orientating individual attitude toward the past is extended and seems to be more important than discussed in the traditional literature. To specifically clarify the active role played by the human mind in the continuous process of revising past experiences and their influence on current outcomes, we introduce the concept of mind-dependence. Among the most relevant implications for economic theory, mind-dependence extends the meaning of lock-in and allows for the definition of new devices to escape trapping states.