The impact of IT and customer orientation on building trust and commitment in the supply chain

The application of information technologies (IT) to logistics activities may have benefits beyond cost savings, as it can create bonds between the supply chain partners. The objective of this paper is to analyse the influence of customer orientation on the application of IT to the supply chain and of these on the development of channel relationships based on trust and commitment. A questionnaire-based personal survey was conducted among manufacturers. Structural equation modelling was used to test the hypothesis contained in the theoretical model. The results indicate that customer orientation affects the application of IT to logistics, and IT has a positive impact on manufacturer and supplier commitment to the relationship.     

Real indeterminacy of equilibria and manipulability

In this paper, we analyze the indeterminacy of equilibria in financial markets and propose a selection mechanism. We suggest that there is one equilibrium that prevails over the others, as a result of the market power of the agents that some states of nature become monopolists of certain commodities. Given a financial assets model, we define a price game and show the existence of mixed strategies equilibria. Then we purify these equilibria by considering a price game with incomplete information.     

Fostering Corporate Social Responsibility Through Public Initiative: From the EU to the Spanish Case

Should CSR be approached only on a voluntary basis or should it be complemented with a compulsory regulatory framework? What type of government intervention is more effective in fostering CSR among companies? This paper is an attempt to answer these questions, reviewing the debate between proponents of the voluntary case and the obligatory case for CSR, and critically analysing current international government-led initiatives to foster CSR among companies, and national government-led initiatives in the EU area. Finally, the paper focuses on the Spanish case, as an example of the failure of an exclusively voluntary approach. Despite the rapid uprise of CSR, Spain is still far behind late in CSR promotion strategies. Most action has been undertaken by companies themselves with no common guidelines, governmental support, or independent verification. The lack of a regulatory framework for CSR or ethical investment issues and the virtual absence of other indirect incentives, explains the misbalance between private, public and Third Sector initiatives. Based on the Spanish context which is quite similar to other non-OECD countries, the authors call for a more proactive government position in CSR related issues. The conclusions of the paper detail the features of this regulatory framework and other policies to promote CSR in Spain as well as in other OECD countries.     

Ownership structure and accountability: the case of the privatization of the Spanish tobacco monopoly, 1887-96

This paper analyses the case of the privatization of the Spanish tobacco monopoly, focusing on the period between 1887 and 1896, which corresponds to the first leasing contract between the state and the Spanish Tobacco Company and it is concerned with two different issues. First, it deals with the effects of privatization on accountability.The main question examined is whether public and private ownership entail different approaches to the way in which managers are accountable to owners, and the impact this issue had on corporate reporting. Second, it is concerned with exploring the determinants of accounting disclosure. Here, the basic issue is to understand the factors shaping changes in corporate reporting during the period of study.     

Modelling food and agricultural systems: A state-of-the-art study

The author provides a comprehensive survey of the recent models which have been constructed to analyze interacting factors in the field of food and agriculture. She discusses the ways in which over 20 models consider: the interrelationships between population and development, and environment and agriculture; international relationships; and technological change and investments.     

The intensive and the extensive margins: not only an international issue

Empirical evidence shows that quantity (intensive margin) and variety availability (extensive margin) have effects of different magnitude on populations’ welfare. Indeed, the pattern of a market dynamics may cause changes in welfare inequality. Low income consumers benefit more from quantity than high income consumers, who are more interested in enjoying variety. These facts have been usually addressed as consequences of trade liberalization by international trade theory. However, market dynamics are also present within the borders of every country. It is important to understand what forces, unrelated with international trade, affect these dynamics. This paper explores the transmission of different real shocks into market dynamics in a new-Keynesian closed economy. Results show that the source of the shock is crucial to determine the magnitude and direction of the effects on each margin.     

The effect of authenticity on visitors’ expenditure at cultural events

The main aim of this study is to analyse the influence of the perceived authenticity of cultural events and their products on shopping expenditure. The quantitative analysis is based on 1275 self-administered questionnaires collected among event attendees in three different Northern Italian Christmas Markets in 2008. In order to estimate separately the determinants of the propensity of respondents to shop and how much money they are willing to spend for each kind of purchase, we have adopted a double-hurdle model. The results show that tourists are more likely to spend and that they do spend more if they consider the event and the products sold to be authentic. This study also reveals that socio-demographic factors and visit motives are interrelated with authenticity perception and together affect the amount of personal expenditures during the event. Finally, some implications of the study are discussed.     

Multiple and last-minute bidding in competing internet auctions

The present paper proposes a theoretical model of the equilibrium bidding behavior in simultaneous competing private-value Internet auctions such as those on eBay. It shows that last-minute bidding and multiple bidding, two commonly observed bidding strategies, arise in equilibrium. It also suggests that last-minute bidding may lead to inefficient outcomes.