EDITORIAL: TAX REFORM AND SIMPLIFICATION

Major tax reform to simplify the UK tax system is possible. Merging income taxes, social security taxes and corporation tax into only a single flat-rate of tax on all incomes would be a radical start. Avoiding taxes on income and expenditure which are 'too high' requires major reductions in government spending, mainly on the welfare state. Given the political will, over a period of years we really can hugely improve the UK tax system.     

Changes in food provision in Russian households experiencing perestroika

The purpose of this article is to describe how households in Novgorod the Great, Russia, deal with food provision in everyday life. The study focuses on changes experienced in food provision and consumption in Russian society, in order to illustrate how households respond to the transformation towards a market economy. The study reflects women's perspective on food provision. Students from Novgorod the Great visited 105 households and asked the women in the household to answer a questionnaire. Results from the study show that in order to cope with changes in society related to economic reforms, Russian households had changed both their food consumption and food production patterns. There was no big difference between urban and rural households. Nearly all of the households were self‐sufficient in the provision of vegetables and potatoes. Many households had a ‘dacha’ (plot), where they produced most of what they needed. Among the changes experienced during recent years (i.e. during the end of the 1990s), a decade after perestroika was initiated, households mentioned the rise in food prices and the decrease of income. Households reported that they consumed less fruit and/or meat. Some households also mentioned that the quality of nourishment had decreased, thereby indicating lower general quality, lower nutrition value, or less healthy foodstuffs.     

Why students take elective business ethics courses: Applying the theory of planned behavior

Despite the prevalence of elective business ethics courses, little research has sought to explain and predict why some students enroll in these courses and while others do not. Using the theory of planned behavior (Ajzen and Madden, 1986) as a theoretical foundation, 178 graduate students in Ireland were surveyed about their intention to sign up for an elective ethics class. Their behavior was measured two months later. The results reveal the power of the theory of planned behavior to explain and predict who takes elective ethics classes.Donna M. Randall is an associate professor and chair in the Department of Management and Systems at Washington State University. Her research interests include business ethics, organizational commitment, and reproductive risk in the work place. Her work has appeared inJournal of Business Ethics, Decision Sciences, Academy of Management Review, Journal of Vocational Behavior, Journal of Business Research, and others.     

Asset market hangovers and economic growth: the OECD during 1984-93

Asses prices and investment were unusually weak throughout theindustrial world during the early 1990s. This paper highlightsthis stylized fact, and connects it with another: in most ofthe industrial world, asset markets boomed for several yearsbefore collapsing around 1989. The paper suggests that assetmarket bubbles during the late 1980s may have left the industrialworld with an 'asset market hangover' in the early 1990s, inthe form of sluggish asset markets and investment. Empiricalsupport for this hypothesis is provided based on cross-countrydata for equity and real estate markets in most industrial countries.We suggest that financial market developments not justifiedby fundamentals can substantially affect real activity.     

Negotiation support using the Graph Model for Conflict Resolution

The Graph Model for Conflict Resolution is a flexible methodology for systematically studying strategic conflicts in the real world, and is therefore a natural tool for negotiation support. The basic definitions underlying the graph model are reviewed, and the techniques for analysis and interpretation are discussed. The modeling and analysis of a case study, an international trade negotiation concerning the export of Canadian softwood lumber to the United States, are used to demonstrate the practical application of the Graph Model for Conflict Resolution as a negotiation support tool. The modeling and analysis is carried out using the GMCR software system. The ability of the Graph Model for Conflict Resolution to provide insights and advice to negotiators is emphasized.     

Role transitions in older adults: A marketing opportunity

Consumers act out roles throughout their lives. Marketers assist in this role playing by providing the wardrobes, props, and sets in the form of products and services. They also help people understand acceptable role behavior by portraying roles in their communication programs. Consumers assume new roles as they age. This article is designed to enhance understanding of the often-ignored roles that accompany aging and provides examples of and suggestions for effective marketing for these role transitions.     

Testing for Linear and Nonlinear Granger Causality in the Stock Price-Volume Relation

Linear and nonlinear Granger causality tests are used to examine the dynamic relation between daily Dow Jones stock returns and percentage changes in New York Stock Exchange trading volume. We find evidence of significant bidirectional nonlinear causality between returns and volume. We also examine whether the nonlinear causality from volume to returns can be explained by volume serving as a proxy for information flow in the stochastic process generating stock return variance as suggested by Clark's (1973) latent common-factor model. After controlling for volatility persistence in returns, we continue to find evidence of nonlinear causality from volume to returns.