a students'guide to the CAP

Linda Whetstone, farmer and economist, gives a brief account of the ill-effects of the Common Agricultural Policy. Is there nothing good to say about the CAP - only that it has increased the availability of supplies but at enormous cost?     

The Norwegian banking crisis: Managerial escalation of decline and crisis

This paper examines the impact and nature of managerial contribution to the Norwegian banking crisis. Numerous findings are reviewed which suggest that many bank managers produced inappropriate responses to the initial decline and subsequent crisis, and thus contributed to the crisis, due to a set of common managerial misrepresentations of the situation. These include: external attribution of failure, overoptimism and overconfidence, the confirmation trap, the illusion of control, irrational escalation of commitment and insufficient adjustment.     

Exploration in product usage: A model of use innovativeness

In this article a conceptual model of use innovativeness is proposed. Use innovativeness is positioned within the broader innate innovativeness construct. Use innovativeness is conceptualized as a consumer's receptivity/attraction to and creativity with using products in new ways. Thus, use innovativeness focuses on the origination and production of new product uses rather than the adoption of new products. Relationships between innovativeness, use innovativeness, and use behaviors are explicated. In addition, issues in construct measurement and validation are also highlighted. Finally, a research agenda that flows from the proposed model is suggested. © 1994 John Wiley & Sons, Inc.     

Should we do away with teleworking? An examination of whether teleworking can be defined in the new world of work

This empirical paper analyses data gathered from self-employed teleworkers, matching this against teleworking's defining characteristics, which appear in the literature. Our evaluation leads us to question whether the term 'teleworking' has lost much of its value in today's working world. We therefore suggest the new term 'home-anchored worker' as a less complex and more useful replacement.     

Managerial ownership of voting rights: A study of public corporations with dual classes of common stock

Managers of firms with dual classes of common stock can choose different quantities of votes for a given cash flow interest by choosing different quantities of the two securities. We study managerial stock holdings in 45 dual class firms and find that vote ownership per se is an important motivation for these holdings in that corporate officers and their families hold a median 56.9% of the votes and 24.0% of the common stock cash flows. We also find significant family involvement in many sample firms, and document four case studies in which explicit acquisition premiums were paid for superior voting shares.     

Why so only 5.5% of Black Men Marry White Women?*

Only 5.5% of black males married white females in 1990, and the family‐income premium for intermarried black males was 7%. This article estimates the impact of the mating taboo, courting opportunities, and individual endowments on the black male marriage market. Results indicate that eliminating the mating taboo would raise the intermarriage rate from 5.5 to 64%, and do away with the intermarriage premium. Improving black males' endowments or allowing black males to meet white females as frequently as they do black females would not increase intermarriage.     

Goodwill impairments and chief executive officer tenure

The purpose of this paper is to examine the tenure of the chief executive officers of publicly held companies and their corresponding goodwill impairment decisions. An opportunity for managers to manage earnings exists via the Financial Accounting Standards Board's (FASB) goodwill accounting rules. It is hypothesized that CEOs will recognize this impairment in the early years of their tenure because blame can be placed on prior management's acquisition decisions, expensing goodwill early will make future earnings look better, or an objective evaluation of the reporting unit increases impairments.