Schooling processes and educational outcomes in France

Quality & Quantity -     

Successful New Product Pricing Practices: A Contingency Approach

The purpose of this study is to examine the success of new product pricing practices and the conditions upon which success is contingent. We distinguish three different pricing practices that refer to the use of information on customer value, competition, and costs respectively. Following Monroe's (1990) price discretion, we argue that the success of these practices is contingent on relative product advantage and competitive intensity. The hypotheses are tested on pricing decisions for new industrial products. Our results show that there are no general best or bad practices, but that a contingency approach is appropriate. These results may help reduce the complexity that managers experience in pricing new products.     

Who selects the ‘right’ directors? An examination of the association between board selection,gender diversity and outcomes

Using a sample of companies from the top 500 listed firms in Australia, we investigate whether the presence of a designated nomination committee and female representation on the nomination committee affect board gender diversity. We also examine whether gender diversity on the board affects firm risk and financial performance. We find that board gender diversity is significantly and positively associated with the presence of a designated nomination committee and that female representation on the nomination committee is a significant explanatory factor of increasing board gender diversity following the release of the 2010 Australian Securities Exchange Corporate Governance Council (ASXCGC) recommendations. Further, our results support the business case for board gender diversity as we find greater gender diversity moderates excessive firm risk which in turn improves firms' financial performance. Our results are robust after correcting for selection bias and controlling for other board, firm and industry characteristics.     

Valletta ECoC 2018 and cultural tourism development

Valletta, European Capital of Culture 2018 offers the prospect of cultural tourism development and attracting more visitors. However, tensions and opportunity costs potentially arise in planning such change. Strategies could be to intensify or diversify Valletta’s cultural tourism during the run-up to 2018; however, their appropriateness could differ in terms of competitive advantage, social inclusivity and sustainability. This paper focuses on the rationales for different approaches to tourism product development, adopting a broad relational perspective on product assembly that directs attention to the relationships, processes and contexts involved. Analysis suggests that innovative, experimental combinations of selected forms of intensification and diversification are needed to avoid locally insensitive cultural change and unsustainable tourism development.     

A Macroeconomic Perspective on Reserve Accumulation

This paper nests the buffer stock model within a standard open-economy model to capture two motives for international reserves accumulation—the insurance motive and the export-led growth motive. The model is solved for two exchange-rate policies, discretion and a rule with escape clause. It illustrates the behavior of international reserves and other macroeconomic variables when the policymaker pursues output and inflation stabilization and recognizes the supply of reserves can constrain the choice of exchange rate and the choice of exchange rate affects the supply of reserves. When output is below potential, it is optimal under both discretion and the rule to adopt a weak currency and promote export-led growth to achieve output and inflation stabilization. This policy leads to reserve accumulation and is consistent with the behavior of China. When reserves are low initially, welfare is higher when the policymaker follows a rule.     

Chemical fertilizer in transformations in world agriculture and the state system, 1870 to interwar period

The role of fertilizer in spreading commercial agriculture during the first food regime (ca 1870 to the First World War) is well established. What is less understood is the role of fertilizer in industry at this time. This paper details superphosphate fertilizer, part of a class of chemical fertilizers that emerged in the metropoles from the 1870s, and its role in the transformations in world agriculture as well as in industry. Superphosphate fertilizer was not just for the soil. The manufacture of superphosphates also provided a base for the growth of chemical industries. This growth was constitutive of industrial transformations in imperial states—the second industrial revolution—in which mass production units became integrated through a handful of chemicals. One of these chemicals is sulphuric acid, of which superphosphates require large amounts in their manufacture. As the main market for sulphuric acid through the interwar period, superphosphate manufacturing created synergies with other industries and thus made sulphuric acid cheaper. By connecting the manufacturing centres of fertilizer to the multiple farming regions undergoing accelerated commodity production, this study shows that the first food regime and the second industrial revolution were mutually constitutive moments to explain transformations in agriculture and the state system in the long 19th century.     

THE EXPLORATION AND PRODUCTION OF A LONG-LIVED NATURAL RESOURCE(*)

This paper, a synthesis of previous work by the author, examines both the exploration and the production decisions of a firm in a durable natural resource industry, and finds that monopoly power leads to a slowing in the rate of extraction and a reduction in the exploration rate. Thus in a durable resource industry such as gold, the effect of monopoly is multi-plied: less of the resource will be « discovered », and the stock of the re-source will be extracted more slowly so that early-period prices may be kept above the competitive level.     

On the proportionality of EU spatial ex ante coexistence regulations: A comment

In their recent article in this journal, Demont et al. (2009) discuss the effects of alternative spatial ex ante coexistence regulations (SEACERs) in the context of the EU regulatory framework. We retain from Demont et al. (2009) that small pollen barriers should be considered as a possible regulatory option in all identifiable situations in which they are as effective as large isolation distances. This idea is in accordance with the proportionality principle of the 2003 EC Recommendation. But further analysis of how consumer choice and consumer welfare are affected should be conducted before supporting the idea that SEACERs should be flexible, that is that GMO farmers should always have the option of paying their non-GMO neighbours to implement the SEACERs in their own fields. We reject the authors’ argument that pollen barriers are necessarily more easily negotiable among neighbours (more “flexible”) than are isolation distances. We contest the relation of proportionality to the size of market signals for IP products. We contest the idea of shifting coexistence regulation from ex ante to ex post. We believe that any economic analysis of coexistence measures should include their welfare effects on consumers as well as on producers.