Integrating the supply chain: industrial relations implications in US grocery distribution

Recent technological innovations have emphasised increasing integration between enterprises across the supply chain. This article reviews these developments within US grocery distribution and highlights the potential for supply chain integration to increase union bargaining power, as well as employer strategies aimed at reducing the threat of industrial vulnerability resulting from cross-enterprise interdependence.     

Maintaining the ‘Status Quo’? An Analysis of the Contents of British Collective Agreements, 1979–1990

Abstract : The contents of over 100 collective agreements, drawn from 50 bargaining units in both 1979 and 1990, are examined. Recognition clauses remain largely extant. Some extension and formalization of procedural provisions is recorded, particularly regarding time off work for shop-stewards. Closed-shop clauses are deleted from a number of mainly white-collar agreements but remain extant in the majority of manual agreements. More flexible working practices are recorded in many agreements. The form of flexibility agreement varies markedly, with some agreements demonstrating greater formalization and others shifting towards more general managerial prerogative clauses. Possible explanations for this pattern are considered.     

The structure of ownership and corporate acquisition strategies

In this study, we examine in an agency‐theoretic context the influence of executive equity stakes upon corporate strategy and firm value. We argue that beneficial, risk‐increasing corporate strategies may initially be emphasized but non‐value‐maximizing, risk‐reducing strategies may subsequently be emphasized as managers expand their stock ownership. We alternatively contend that stock options may have a consistently positive impact on firm risk taking and acquisition returns. The empirical findings are supportive of our expectations. Copyright © 2002 John Wiley & Sons, Ltd.     

Do Independent Directors Add Value?

The Australian Stock Exchange's Principles of Good Corporate Governance and Best Practice Recommendations require all listed companies that do not have a majority of independent directors to explain their reasons. We show that independent (outside) directors seem to add value only where their firms have substantial amounts invested in growth options. In these circumstances, outside directors add significant value in their first year on the board and where they have at least three other board positions.     

INDUSTRIAL RELATIONS AND THE BRITISH ECONOMY IN THE 1990s: MRS THATCHER'S LEGACY

The authors challenge the view that the UK Conservative governments during the 1980s achieved important advances in industrial performance through the abandonment of corporatist policies that allowed management to regain the initiative and push through changes in work organization. The article takes issue with the idea that collective labour institutions necessarily impair economic efficiency, and it points up important connections between Thatcher's offensive against organized labour and the enduring weaknesses in human capital and technology. The article has three sections: the first examines labour markets and industrial relations; the second analyses government regulation; and the third assesses trends and prospects for the future, with emphasis on employment flexibility and labour productivity. The authors conclude with some comments on future prospects in the context of Britain's fuller integration in Europe.     

Accounting for change in public sector industrial relations: the erosion of national bargaining in further education in England and Wales

The recent transformation of industrial relations in further education in England and Wales is examined, in particular the role of the national ‘Silver Book’ dispute over lecturers’ conditions of service in causing the erosion of national bargaining in the sector. The experience of further education points to the limits of the strategic choice approach as a device for explaining change in public sector industrial relations and to the importance of supplementing it with a perspective that emphasises the role of power.     

Turnaround Strategy at the Oaklands Golf Club 1993/1995 – The Implications for Business Ethics

Teaching Business Ethics -     

Restructuring and Failure in Buy-outs and Buy-ins

In this paper we examine the reasons why buy-outs fail or need to be restructured and identify the implications for managers and investing institutions. It is evident that considerable attention needs to be given to assessing issues concerning industrial sectors, management and financing. In respect of the market, consideration needs to be given both to the nature of the market in which a particular buy-out finds itself and the firm's position within that market. Management is likely to have a crucial role in ensuring that the firm restructures and adapts to changing market circumstances.     

LEARNING-BY-DOING AND ASYMMETRIC INFORMATION IN A MODEL OF MONOPOLY REGULATION*

This paper combines learning-by-doing and asymmetric information in a model of monopoly regulation with and without foreign competition. The principal source of the information asymmetry is unobservable firm effort in the learning process, although unobservable costs are also considered. The major result is that a post-learning all-or-nothing output-contingent lump-sum subsidy can achieve the regulator's complete information welfare maximum. With foreign competition this model can best be thought of as one involving infant industry regulation.