Vouchers for Basic Education in Developing Economies: An Accountability Perspective

Advocates argue that voucher programs can correct the incentiveproblems of education systems in developing economies. An accountabilityperspective, based on a principal-agent framework, was developedto clarify the arguments for and against education vouchers.An assessment of findings on voucher programs in industrialcountries and a review of voucher or quasi-voucher experiencesin Bangladesh, Chile, Colombia, Côte d'Ivoire, and theCzech Republic support the usefulness of the analytic framework.The assessment concludes that the policy relevance of voucherprograms for developing economies remains uncertain. Major voucherinitiatives have been attempted only in countries with a well-developedinstitutional infrastructure. Some studies find favorable benefitsfor at least some population groups, but others find limitedeffects and evidence of increasing social stratification inschools. Whether vouchers lead to better outcomes or greaterstratification appears related to specific contexts, institutionalvariables, and program designs.      

A RE-EXAMINATION OF THE EFFECT OF 12B–1 PLANS ON MUTUAL FUND EXPENSE RATIOS

In this paper we re-examine the effect of 12b–1 payments on mutual fund expense ratios by analyzing data from 1988 through 1991. The findings are consistent with previous studies that find charges are a dead-weight cost borne by shareholders. However, we show that this cost increases over time.     

The integration of microcomputers in marketing research and decision making

This paper focuses on the integrative and pervasive use of microcomputers in marketing research and managerial decision making. The marketing research process is conceptualized as consisting of six phases. At each phase, microcomputer applications and illustrative software are identified as implications for the practice of marketing research discussed. Next the paper illustrates the use of microcomputers in selected application areas such as market segmentation, sales forecasting, new product development, pricing and decision support and expert systems. Guidelines for the selection of microcomputer software in specific situations are provided. The paper concludes with some observations on the future applications of microcomputers in marketing research and decision making.     

The effect of rule 12b-1 on bond fund expense ratios

This paper presents empirical evidence that bond mutual funds which have adopted the use of 12b-1 fees have not achieved the goal of lowering expense ratios. Using a model specific to bond funds, as opposed to generic models used in previous studies on equity funds, the analysis confirms that the 12b-1 fee is an additional cost borne by shareholders of the fund without any additional benefit. However, this cost as a percent of the net asset value of the fund has decreased from 1991 through 1994. This reduction coincides with the submission of a proposed rule change by the National Association of Security Dealers concerning maximum sales charges imposed by mutual funds on December 28, 1990 and the implementation of limits on 12b-1 fees which became effective in July of 1993.     

How supply chain architecture and product architecture impact firm performance: An empirical examination

In order to enhance performance, manufacturing firms are building various capabilities and utilizing supply chain networks that are geographically dispersed around the globe. This study examines how decisions related to supply chain architecture and product architecture influence organizational competitiveness. Building on the co-specialization perspective, we evaluate the performance implications of product modularity and supply chain agility. While, product modularity constitutes a product configuration related to sourcing and assembling of products, supply chain agility is a supply chain configuration related to velocity (sensing, comprehending, and responding) and visibility (supplier network, internal operations, and external environment). Both the product and supply chain architectural decisions can impact performance, individually and in conjunction with each other. We empirically test the hypothesized relationships using data collected from 103 manufacturing firms. Results show that supply chain agility and product modularity directly enhance responsiveness and enable organizations to reduce cost. Furthermore, supply chain agility partially mediates the relationship between product modularity and both responsiveness and cost reduction. We elaborate on the key contributions of this study for both research and practice, discuss limitations, and also offer various avenues for further research.     

China's Growing Influence in Latin America

This article examines China's growing influence in Venezuela and other parts of Latin America as it seeks to secure a steady supply of cheap oil and new export markets. In recent years, China has offered loans to cash-strapped nations in the region on better terms than those offered by the United States and other multilateral lending institutions. China's growing influence worries the United States and other global observers who fear the spread of anti-democratic and anti-capitalist views. China maintains that its only interest in the region is economic. The current political turmoil in Venezuela offers China the opportunity to assuage these fears by supporting the presidency of Juan Guiado.     

A decision analytic approach for technology portfolio prioritization: aviation safety applications

A decision analytic approach for evaluating new aviation safety products and technologies is developed and demonstrated to consolidate five existing program assessment metrics to develop a unified metric that simultaneously considers the relative importance and contribution of each. This allows for a meaningful and objective evaluation and comparison of the National Aeronautics and Space Administration (NASA) Aviation Safety Program (AvSP) advanced aeronautical products and technologies. The resulting decision model is referred to as the Composite Program Assessment Score (CPAS). The CPAS includes the five existing metrics; technical development risk, implementation risk, fatal accident rate reduction, safety benefits and cost, and safety risk reduction, which are each defined and quantified by different sources. The CPAS involves the scaling and combination of these individual metrics. In this paper, two alternative combinatorial modeling approaches to calculate the CPAS are presented. The weighted sum model and an additive value theory model are compared and contrasted. The resulting CPAS metrics allow an overall comparison of all 48 of the NASA AvSP products and technologies. Currently CPAS is based on preliminary weight measures from subject matter experts to reflect the relative importance of each metric. Actual case studies of both linear and non‐linear value functions are demonstrated.     

Can absence make a team grow stronger?

Some projects have such diverse requirements that they need a variety of specialists to work on them. But often the best-qualified specialists are scattered around the globe, perhaps at several companies. Remarkably, an extensive benchmarking study reveals, it isn't necessary to bring team members together to get their best work. In fact, they can be even more productive if they stay separated and do all their collaborating virtually. The scores of successful virtual teams the authors examined didn't have many of the psychological and practical obstacles that plagued their more traditional, face-to-face counterparts. Team members felt freer to contribute--especially outside their established areas of expertise. The fact that such groups could not assemble easily actually made their projects go faster, as people did not wait for meetings to make decisions, and individuals, in the comfort of their own offices, had full access to their files and the complementary knowledge of their local colleagues. Reaping those advantages, though, demanded shrewd management of a virtual team's work processes and social dynamics. Rather than depend on videoconferencing or e-mail, which could be unwieldy or exclusionary, successful virtual teams made extensive use of sophisticated online team rooms, where everyone could easily see the state of the work in progress, talk about the work in ongoing threaded discussions, and be reminded of decisions, rationales, and commitments. Differences were most effectively hashed out in tele-conferences, which team leaders also used to foster group identity and solidarity. When carefully managed in this way, the clash of perspectives led not to acrimony but, rather, to fundamental solutions, turning distance and diversity into competitive advantage.