New technology in UK retailing: Issues and responses

Technology application in retailing has a considerable history, with applications for the most part aimed at labour cost reduction. The technologies now being applied in retailing and distribution however differ from these earlier ones in a fundamental way. The new technologies in micro‐electronic based computing and micro‐electronic communications differ by being general purpose and flexible and by developing very rapidly. The new technology is enabling changes to take place in the distribution channel. The areas of applications of the new technology and the applications and reasons of technology introduction are analysed in this paper.     

A Strategic Perspective on Delivery Systems in UK Retail Banking

The pre-eminence of the bank branch as an effective delivery system arose from the difficulties associated with marketing financial services. The branch provides a highly efficient mechanism for administering, collecting and delivering cash as well as a wide range of lending and ancillary services. Historically, branch networks arose to attract cheap retail deposits through the convenience of the branch location itself, and through branch-based payment systems. Indeed, the relationship between the customer and the branch underpins the whole banking process. However, the branch's exclusive function is tenable only so long as the assumptions and conditions that determined its historical position hold good. These assumptions are that the market will continue to respond to it, that it will remain the basis for patterns of competitive behaviour, and that more effective and economic delivery systems will not emerge. This article presents the view that these assumptions are in fact being undermined, particularly by innovations in technology, which will necessitate a complete rethink of future strategy in retail branch banking.     

Temporal resolution of uncertainty,disclosure policy,and corporate debt yields

In this paper, we study how risk-shifting incentives and the design of debt covenants are affected by the pattern of temporal resolution of uncertainty (TRU) in the underlying technology of the firm. We show that the extent of risk-shifting as well as the yield demanded on corporate debt are larger the later the resolution of uncertainty (thus providing one explanation for the empirical evidence of Reisz and Perlich (2006)). We allow for contracting based on verifiable information disclosed by the manager. In this context, we characterize optimal covenants restricting investment. The effects of these covenants on the firm's investment policy and corporate bond yields under different disclosure policies and patterns of TRU are studied. Empirical implications are derived and discussed.     

Would Freeing Up World Trade Reduce Poverty and Inequality? The Vexed Role of Agricultural Distortions

Trade policy reforms in recent decades have sharply reduced the distortions that were harming agriculture in developing countries, yet global trade in farm products continues to be far more distorted than trade in non‐farm goods. Those distortions reduce some forms of poverty and inequality but worsen others, so the net effects are unclear without empirical modelling. This article summarises a series of new economy‐wide global and national empirical studies that focus on the net effects of the remaining distortions to world merchandise trade on poverty and inequality globally and in various developing countries. The global Linkage model results suggest that removing those remaining distortions would reduce international inequality, largely by boosting net farm incomes and raising real wages for unskilled workers in developing countries, and would reduce the number of poor people worldwide by 3 per cent. The analysis based on the Global Trade Analysis Project model for a sample of 15 countries, and nine stand‐alone national case studies, all point to larger reductions in poverty, especially if only the non‐poor are subjected to increased income taxation to compensate for the loss of trade tax revenue.     

China's foreign trade marketing strategy: Problems and prospects 1

It has been seven years since the open door policy was officially instituted by the People's Republic of China. During this time, changes have taken place within Chinese society and China's dealings with the rest of the world. In this paper, the authors evaluate the problems and prospects for China's foreign trade marketing strategy. They make recommendations in five policy areas: (1) export promotion; (2) the mix of exports; (3) a systems approach to trade; (4) joint ventures stressing value‐added labour and (5) the role of assembly technology. Each strategy is identified and discussed in terms of its future prospects in the development of China's trade.     

The relative efficiency of king's,ecclesiastical, and lay estates in Domesday Essex, 1086

In the Domesday survey of 1086, information on the inputs and output of most production units in the English economy was carefully collected by questionnaire survey and verified in court. In this paper, Essex estate data are used to assess whether similar production functions describe production for the three major classes of production unit in the economy – king's, ecclesiastical, and lay estates. A data envelopment analysis is undertaken to determine whether production on one class of estate was more efficient than on the others. The evidence suggests that production processes and management performance were similar on the three classes of estate.     

Breaking the cycle of marketing disinvestment: using market research to build organisational alliances

Many marketers find their programmes fall victim to disinvestment, both financial and psychological. While most marketers are avid students of consumer psychology, they tend to overlook the dynamics of organisational psychology, just as the literature on market orientation often fails to emphasise the organisational identity politics and power struggles that frustrate marketing. Discussions of market orientation focus on leadership and team‐building issues, favouring highly visible cases of organisational success at the expense of analysing common factors in marketing failure, many of them grounded in organisational psychology. Allied with knowledge of organisational epistemology, market research can be used as a critical resource in marketers' internal marketing programmes to strengthen market orientation. Ongoing collaborative market research can build positive organisational alliances that contribute to the internal support needed to sustain a successful marketing programme. Copyright © 2001 Henry Stewart Publications