Board Pay and the Separation of Ownership from Control in U.K. SMEs

This paper examines Board pay for a sample of 571 U.K. SMEs from 1991 to 1995. Approximately half of the sample were closely-held (i.e., owner-managed) firms which allowed empirical testing of models of the relationship between Board pay and ownership from control characteristics. Consistent with their need to align shareholder and manager incentives, the results indicate that the change in nonclosely-held SME Board pay is significantly related to both external market pay comparisons and “benchmark” profits. This contrasts with the empirical results for the closely-held firms where Board pay awards are typically highly sensitive to current total profits but wholly unrelated to external market pay levels.     

FOOD SECURITY IN KWAZULU: RESULTS OF A HOUSEHOLD-BASED PROGRAMMING MODEL

A mathematical programming model of rural KwaZulu, excluding three northern districts, was developed to simulate agricultural production in regions of high and low cropping potential. This model aggregates enterprise levels predicted for four representative households of which two are in the high-potential region and two in the low-potential region. Several economic scenarios are simulated with the model to predict, inter alia, responses to changes in cereal prices, input subsidies, changes in off-farm employment and a rental market for crop land. Long-run food supply response is estimated to be inelastic with respect to changes in product and input prices. Higher food prices harm the majority of rural households. Lower input prices have little impact on household welfare. Conversely, it is predicted that a rental market for arable land could have a large positive impact on crop production and would improve household welfare.     

ERPs as 'technologies-in-practice': social construction, materiality and the role of organisational factors

Enterprise Resource Planning systems (ERPs) often fail to deliver the organisational benefits anticipated. This paper uses Orlikowski's 'technology-in-practice' framework to analyse the impact of an ERP on branch managers in a large bank. While this framework provides important insights into the impact of ERPs, the case also highlights the significance of organisational factors in shaping how users enact technology at work.     

Outlook for the grain market

With all the indications suggesting that the current imbalance between supply of and demand for grain will continue for the foreseeable future, and with a steady surplus both keeping prices down and forcing on governments measures to reduce output and stocks, attention is turning to South East Asia, a region which, due to the rapid growth of both its population and per capita income, seems to offer the best prospects of medium and long-term increases in demand. How realistic are the hopes that South East Asia will be able to absorb a substantial part of the world's grain surplus?     

From Bermondsey to Canary Wharf: The Social Context of Change in Industrial Relations, 1880–2000

This paper presents evidence on some of the key variables that have determined the economic status of different groups in the working population. Economic status is set by the level and security of real income and consumption. These are themselves determined by access to resources in the areas of the labour market, public services and social security, and in housing. The paper reviews the period between 1880 and 1990, and puts forward the likely situation in the year 2000. The century began with an agenda set by the problems of falling real incomes and poverty. It is likely to end with the problems of economic and demographic ageing as the main focus.     

The mini farmer approach: A case study of the South African tea industry

This article analyses the concept of mini farming on tea estates in South Africa from the point of view of the farmer and the estate. Although mint farmers who participate in these schemes are subjected to strict controls, they enjoy more freedom than labourers. The article shows the relative merit of the mini farming concept in the tea industry, and thereby contributes to the current debate on agricultural restructuring in South Africa.     

Regulatory Policy: OECD Experience and Evidence

In the past 20 years a key topic of public-sector reform inOECD countries has been the emergence of regulatory policy.During this period, the nature of regulation has undergone profoundand rapid change. This paper reviews the development of regulatorypolicy in OECD countries over the last quarter-century. It identifiesa range of tools and institutions that have been used by OECDcountries to develop high-quality regulation. The analysis attemptsto show that while there is considerable commonality on broadobjectives of regulatory policy, considerably diversity remainsin the implementation of regulatory policy across OECD countries. Footnotes ¹ E-mail address: nikolai.malyshev{at}oecd.org