Involving purchasing in new product development

Purchasing is evolving into a strategic business activity and thus also a potential contributor to the successful development of new products. However, the literature on the involvement of purchasing in new product development (NPD) is sorely lacking. We conducted an exploratory study to investigate purchasing's involvement in NPD, the drivers of this involvement and the influence on new product success. We conducted telephone interviews with purchasing and NPD managers from 43 firms. The results show that firms differ in the extent to which they involve purchasing in NPD and that higher involvement has a positive effect on NPD performance. R&D managers can use the results to design a more effective purchasing–R&D interface and increase the success of NPD.     

Whither Hong Kong's Unions: Autonomous Trade Unionism or Classic Dualism?

This paper presents an evaluation of the ideologies and behaviour of the main union groupings in Hong Kong. The CTU's 'adversarial' line and 'inclusive' approach has threatened to break with the traditional industrial pacifism of Hong Kong's unions, while the FTU's recognition of its 'dual functioning' role has been balanced by the need to maintain credibility as an effective representative of workers' interests. The TUC has been passive in recent years, and the independent unions tend to be rather inward-looking. Unions remain weak, particularly at the workplace, and it is uncertain to what extent union autonomy can be sustained.     

An Efficient Avoided Cost Pricing Rule for Resale of Local Exchange Telephone Services

The Telecommunications Act of 1996 requires incumbent local exchange telephone companies to make their retail telecommunications services available to resellers at a discount that reflects the costs that will be avoided by providing the services at wholesale rather than at retail. In this article, we develop a pricing methodology to apply to such wholesale services. The methodology, which we label the Avoided Cost Pricing Rule, is designed to generate an economically efficient discount that may be applied to the incumbent local exchange carriers' services that are offered to resellers.     

Shifting sands? trade unions and productivity at Rover Cars

This article examines the impact of trade unions on productivity at Rover Cars. Intra-organisational variables which influence productivity levels at Rover are also considered. It concludes that the positive approach by both management and unions to collective bargaining in the late 1980s yielded significant gains in performance. This endorses the view of the Harvard School of economists who argue that unionism can be a force for greater economic efficiency.     

The Lure of Work‐Life Benefits: Perceived Person‐Organization Fit As A Mechanism Explaining Job Seeker Attraction To Organizations

Drawing from person‐organization (P‐O) fit theory, we explain how the provision of work‐life benefits (WLBs) increases job seeker attraction to organizations during the early recruitment stage because of a perceived value fit between job seekers and the organization. Our results from an experimental study using a sample of 189 MBA students who belonged to two generational groups (Millennials and Gen Xers) and were seeking employment during a period of economic recession support our expectations. We found that job seekers develop higher P‐O fit perceptions for organizations that supplement standard pay with WLBs in their recruitment materials compared with organizations that supplement standard pay with health care benefits or offer only standard pay. In turn, such organizations are assessed as more attractive prospective employers. We also found that generational group moderated the path between P‐O fit and job seeker attraction such that Millennial job seekers were more likely to be attracted toward organizations with which they had strong fit perceptions than their Gen X counterparts. Theoretical and practical implications of our findings are discussed. © 2016 Wiley Periodicals, Inc.     

Class Size at University

An effective higher education market should increase educational standards. For universities to fulfil this role, students need reliable information about the teaching on offer at different universities, but no such data are currently available. We define a measure of teaching that weights contact hours by their intensity and collect a new data set that allows comparison of teaching across universities and across three departments. No two universities offer identical teaching. There is large variation in contact hours and even larger variation in teaching intensity, across both universities and departments. We combine our data with existing data to investigate the relationship that teaching has with university and student characteristics. We find that how much teaching students receive is uncorrelated with tuition fee; that teaching has little predictive power in explaining student satisfaction; and that physics students consistently receive more teaching than either economics or history students.     

Capital market effects of media synthesis and dissemination: evidence from robo-journalism

In 2014, the Associated Press (AP) began using algorithms to write articles about firms’ earnings announcements. These “robo-journalism” articles synthesize information from firms’ press releases, analyst reports, and stock performance and are widely disseminated by major news outlets a few hours after the earnings release. The articles are available for thousands of firms on a quarterly basis, many of which previously received little or no media attention. We use AP’s staggered implementation of robo-journalism to examine the effects of media synthesis and dissemination, in a setting where the articles are devoid of private information and are largely exogenous to the firm’s earnings news and disclosure choices. We find compelling evidence that automated articles increase firms’ trading volume and liquidity. The effects are most likely driven by retail traders. We find no evidence that the articles improve or impede the speed of price discovery. Our study provides novel evidence on the impact of pure synthesis and dissemination of public information in capital markets and initial insights into the implications of automated journalism for market efficiency.     

Reviews

Planning in diverse societies. Healey, P. 1997: COLLABORATIVE PLANNING: SHAPING PLACES IN FRAGMENTED SOCIETIES. Basingstoke: Macmillan, £14.99 paper.

Transforming “problem” housing estates. Power, A. 1997: ESTATES ON THE EDGE. London: Macmillan, £57.50 cased.

Contested communities. Hoggett, P. (ed) 1997: CONTESTED COMMUNITIES: EXPERIENCES, STRUGGLES, POLICIES. Bristol, The Policy Press, £15.95 paper.

A planner's view of regeneration in Manchester. Kitchen, T., 1997: PEOPLE, POLITICS, POLICIES AND PLANS: THE CITY PLANNING PROCESS IN BRITAIN. London: Paul Chapman Publishing, £16.95 paper.

Urban design. Parfect, M. and Power, G. 1997: PLANNING FOR URBAN QUALITY: URBAN DESIGN IN TOWNS AND CITIES. London: Routledge, £65.00 cased, £22.50 paper.

Regional impact of the EU Structural Funds. Bachtler, J. and Turok, I. (eds) 1997: THE COHERENCE OF EU REGIONAL POLICY: CONTRASTING PERSPECTIVES ON THE STRUCTURAL FUNDS. London: Jessica Kingsley Publishers, £25.00 paper.

Development trusts. Ward M. and Watson, S. 1997: HERE TO STAY: A PUBLIC POLICY FRAMEWORK FOR COMMUNITY-BASED REGENERATION. London: Development Trusts Association, Joseph Rowntree Foundation, £10.95 paper.

Hart, L. 1997: ASSET BASE DEVELOPMENT FOR COMMUNITY-BASED REGENERATION ORGANISATIONS. London: Development Trusts Association, £6,50 paper.

Community visioning. Burton, B. 1997: COMMUNITY VISIONING: AN EVALUATION OF THE “CHOICES FOR BRISTOL” PROJECT. Bristol: Policy Press, £11.95 paper.