Persistence of dollarization after price stabilization

Credit contracts in developing countries are often denominated in foreign currencies, even after many of these economies succeeded in controlling inflation. This paper proposes a new interpretation of this apparent puzzle based on the demand for insurance against real shocks: the fact that devaluations occur more frequently in adverse states of the world provides a motive for holding dollar assets. This approach implies a complementarity between the optimal monetary policy and the currency denomination of contracts. When a large proportion of liabilities is denominated in a foreign currency, the optimal exchange rate volatility is low, which reinforces the demand for dollar assets.     

Government policies to enhance access to credit for infrastructure-based PPPs: an approach to classification and appraisal

Governments across the world have introduced a variety of instruments to enhance private investors’ appetites for public–private partnership (PPP) projects. The use of such instruments has become a core component of development and growth policies, for example by the EU as part of the Junker Plan. This paper provides a comprehensive categorization of these instruments, the risks they target and their effects, at both the project and system level, to support policy-makers to design the most appropriate instruments to attract private capital into infrastructure development.     

Creating marketing strategies in new technology markets: A study of the expert system industry

Technological innovation is widely recognized as a major factor influencing competitiveness. This is particularly true i n turbulent and dynamic IT markets. Consequently, the effective strategic management of technological innovation by companies is one route to securing their survival and growth. The focus of the research presented is the evolution of marketing strategies by innovators facing diverse competitive challenges in the expert system market. The study examined the role of strategic marketing i n the commercial exploitation of technology and how this role changes, especially after market launch. What was interesting urm the extent to which suppliers were not only designing new technologies but also creating business applications for the new technology. The acquisition of market know-how to devise end-,user applications was a vital ingredient i n securing a competitive advantage.     

The quality of British marketing: A comparison with US and Japanese multinationals in the UK market

This paper presents the findings of an empirical study comparing the marketing strategies and organisations of a matched sample of British companies and their US and Japanese competitors in the UK. Hypotheses about Japanese marketing are tested and provide a framework for the comparative analysis of the marketing effectiveness of the three sets of competitors. The findings highlight significant weaknesses in the marketing effort of British companies, these being exacerbated by excessive focus on short‐run financial gains. The US competitors, equally concerned with short‐term profits, were less committed to the UK market than their Japanese rivals, their market position being in danger of deteriorating further as the Japanese close the technological gap between them. The Japanese were unmistakably aggressive, single‐minded in their pursuit of market share and undeniably more market‐oriented than their US and British counterparts. This research was funded by the ESRC.     

Reasons for choosing a technically oriented education: an interview study within the fields of pipefitting and industry

The article examines how professionals within technical businesses describe their ways into their trade and why they have remained. Semi-structured interviews, analyzed by analysis of narratives, have been conducted with six informants within pipefitting and industrial work aiming to understand how technically oriented professions can attract young potentials into the field. The results from the study are thus a contribution within the field of vocational education, in order to understand why youths should consider to study the Energy Programme or the Industry Programme at upper secondary school. The results show that factors that influence people to start working within technically oriented trades are: (1) to use your hands to screw things together, (2) to get an income and (3) if relatives work in the branch. Based on the study it is not obvious to young people what they want to do when they have graduated. But the study also shows that even though the choice of careers is not obvious from the beginning people who chose the field of pipefitting or industry remain for many years. This implies that programmes for recruitment could use the advantages shown in this study for arguments to increase the amount of students who chose the technically oriented educations. The reasons for staying in the professions are: (1) variation and freedom, (2) creativity and influence and (3) you get to work with your hands. This significant content within the technically oriented trades contribute with specific arguments for promotion of the plumbing and industrial work in particular and also for the technical trades and technical education in general.     

Paying the piper: choice and constraint in changing HR functional roles

HR directors are often exhorted to play a more ‘strategic’ role in their organisations. However, it is not necessarily clear what is meant by this, or whether it is possible for departments to change their role at a whim. In this article we examine the changing role of the HR function within two contrasting organisations – an NHS trust and a bank – over a period of seven years. Drawing on role‐set theory and concepts of negotiated order, we illustrate how HR functional roles are located within a complex and dynamic social setting, and present a model that seeks to map these interrelationships.     

Land contamination risk management in Cameroon: A critical review of the existing policy framework

Land affected by contamination from human activities has been identified as a major environmental problem in developed countries and there are established mechanisms for identifying, prioritising, characterising, assessing and remediating the land so that risks to human health and environmental receptors are minimised. However, comparative mechanisms and approaches for sustainable land management are often lacking in developing countries such as Cameroon. This paper presents a critical review of the existing policy framework in Cameroon in relation to environmental management, particularly land contamination.It is established that in Cameroon, there is an acute lack of comprehensive information on land contamination from economic development and industrialisation, inadequate legal and institutional framework, weak enforcement capacity and unsatisfactory coordination between various stakeholders towards sustainable land management practices. The coastal town of Douala, which has the highest level of industrial activity in the sub region is used to demonstrate how dealing with land contamination is a public health priority and requires attention in the context of sustainable development. The United Kingdom (UK) regulatory policy framework on land contamination risk management is used to show how land contamination issues and risk management approaches, including conceptual site models, could be introduced into the sustainability discourse in Cameroon. A number of recommendations including proposals for a radical overhaul of the current regulatory policy framework are formulated and presented. Specifically, the creation of an independent Cameroon Environment Protection Agency (CEPA) that will be the main regulatory body responsible for developing and implementing the policy proposals in this paper is advocated.     

Type of earnings management and the effect of ownership structure, firm size, and corporate-governance practices: Evidence from Indonesia

The purpose of this study is to investigate whether companies listed on the Jakarta Stock Exchange (JSE) conduct efficient or opportunistic earnings management and to examine the effect of ownership structure, firm size, and corporate-governance practices on it.Using multiple regressions, we find evidence that the type of earnings management selected by JSE listed firms tends toward efficient earnings management. This evidence is inconsistent with the common view that earnings management in Indonesia is opportunistic. Family ownership has a significant influence on the type of earnings management selected. Firms with a high proportion of family ownership and non-business groups are more inclined to choose efficient earnings management than other types of firms. We find inconsistent evidence with regard to the impact of institutional ownership, firm size, and corporate-governance practices on type of earnings management.     

Race, ethnicity, and insurance as determinants of epidural use: analysis of a national sample survey

Despite widespread availability of pain interventions in childbirth, for most women, childbirth is associated with labor pain that exceeds expectations. Although epidural is superior to other medical interventions, the choice to use epidural still remains a matter of patient and doctor preference. Whether racial or ethnic characteristics influence preference of physician use or interact with insurance coverage is still unknown. This study used a large national sample of women to measure significant determinants of epidural use in order to discuss disparities in pain management. The findings suggest the need for nurse leaders to foster health policies that are sensitive to diversity and economics.     

Creating marketing strategies in new technology markets: A study of the expert system industry

Technological innovation is widely recognized as a major factor influencing competitiveness. This is particularly true i n turbulent and dynamic IT markets. Consequently, the effective strategic management of technological innovation by companies is one route to securing their survival and growth. The focus of the research presented is the evolution of marketing strategies by innovators facing diverse competitive challenges in the expert system market. The study examined the role of strategic marketing i n the commercial exploitation of technology and how this role changes, especially after market launch. What was interesting urm the extent to which suppliers were not only designing new technologies but also creating business applications for the new technology. The acquisition of market know-how to devise end-,user applications was a vital ingredient i n securing a competitive advantage.