The Internet's Impact on Agricultural Input Distribution Channels

Agricultural input distribution channels incorporate a number of complexities that make communication of prices and availability murky, and create inefficiencies in input markets. The Internet provides the potential for realizing significant efficiency gains in the agricultural inputs industry through the continued consolidation and vertical integration made possible by improving communications networks. Innovative firms have the opportunity to profit from the changes wrought and encouraged by the Internet.     

Tourism environments and management

The Congress of the World Leisure and Recreation Association, held in Sydney, Australia 16–19 July 1991, had as its focus the theme of ‘Leisure and tourism: social and environmental change’. Among over 140 papers on varied management, research and education issues a number examined the frameworks used to understand tourism environments and their management. Bill Bramwell, of the Centre for Tourism at Sheffield City Polytechnic, assesses the new insights offered by these papers.     

海归派撑起中国IC业

中国籍工程师David Hu(胡祥)和JohnYu(于晓光)在美国接受了高中和大学教育,现在他们用所学到的知识在祖国创业。苹果公司的创始人Steve Jobs和Steve Wozniak毕业于美国加州硅谷的Homestead高中。整整一代过去了,现在,这所学校又为我们贡献了     

MECC:系统层上的奋斗

虽然嵌入式和标准格式底板可能没有集成电路(IC)那样的吸引力,但是它们有自己的市场驱动力和平衡法则。比如,他们更容易在设计与制造自己需要的产品和购买这样的产品上作出选择。     

WORLD OUTLOOK

At the end of 1982 output in the world economy was still falling, although there were signs that the decline had very nearly run its course. We expect a radual recovery to begin in the first half o f 1983. Unlike the recovery which began in the late summer of 1980, when inflation was still in double figures, any upturn in 1983 would be set against a background of declining inflationary expectations and weak oil prices. IJ. as we expect, a falling inflation rate proves a decisive factor in keeping interest rates on a downward path, we forecast that the output will gather pace in I983 and rise reasonably strongly in 1984. Of the 4 per cent rise in industrial production which we foresee in 1984. a large part is due to the fall in real oil prices.     

Nuclear nightmares in the Philippines

The construction of the Philippine's first nuclear power plant by Westinghouse has come to symbolize the corruption and cronyism of the Marcos' years. The plant has created so much controversy that it has yet to operate, in a country that desperately needs electrical power. The entire affair suggests that American multinationals cannot simply adopt the business practices of the host country, but instead must carefully analyze the political and business environments of their foreign based operations, and then take into account the long-term ethical implications of their decisions. The case also suggests that government needs to play a more active role in regulating multinationals, especially when sophisticated and potentially dangerous technologies are involved.William Beaver is currently an associate professor of social science at Robert Morris College which is located near Pittsburg PA. He has published a book (Nuclear Power Goes On-Line, Greenwood Press, 1990) and several articles on the subject of nuclear power. He teaches a business and society course in the college's MBA program, which has developed his interest in business ethics and its relationship to nuclear power.     

Note on the behavior of residual security returns for winner and loser portfolios

Portfolios are formed directly and exclusively upon residual return behavior in the months prior to portfolio formation. The empirical behavior of residual return in the post-formation period is then examined. Based upon the overall time period studied (1932 through 1977), the average residual return is essentially zero in the months subsequent to the portfolio formation. However, systematic (i.e., non-zero) residual behavior is observed in particular years. Moreover, the results suggest the possibility that ‘abnormal’ returns observed after certain events (e.g., earnings announcements) may at least in part reflect more general phenomena associated with being ‘winners’ and ‘losers’ in terms of residual returns in the months previous to the event.