Search

We apply a soft computing method to generate country-specific economic sentiment indicators that provide estimates of year-on-year GDP growth rates for 19 European economies. First, genetic programming is used to evolve business and consumer economic expectations to derive sentiment indicators for each country. To assess the performance of the proposed indicators, we first design a nowcasting experiment in which we recursively generate estimates of GDP at the end of each quarter, using the latest business and consumer survey data available. Second, we design a forecasting exercise in which we iteratively re-compute the sentiment indicators in each out-of-sample period. When evaluating the accuracy of the predictions obtained for different forecast horizons, we find that the evolved sentiment indicators outperform the time-series models used as a benchmark. These results show the potential of the proposed approach for prediction purposes. [ABSTRACT FROM AUTHOR]

The aim of selective editing is to identify observations affected by influential errors. A score function based on the impact of the potential error on target estimates is useful to prioritize observations for accurate reviewing. We assume a Gaussian model for true data and an 'intermittent' error mechanism such that a proportion of data is contaminated by an additive Gaussian error. In this setting, scores can be related to the expected value of errors affecting data. Consequently, a set of units can be selected such that the expected residual error in data is below a prefixed threshold. In the context of economic surveys when positive variables are analyzed, the method is more realistically applied to logarithms of data instead of data in their original scale. The method is illustrated through an experimental study on real business survey data where contamination is simulated according to error mechanisms frequently encountered in the practical context of economic surveys. [ABSTRACT FROM AUTHOR]

This paper introduces a new method to measure the unexpected component of dividend announcements. While measures used previously were based on various arbitrary models of dividend expectations, our suggested method compares the reaction of stock and option prices to dividend announcements. Our measure is compared to commonly used model-based measures, to a Box-Jenkins time-series- based measure, and to a Value-Line Investor Survey-based measure of dividend surprises. The new measure is more highly correlated with the market's reaction to the announcements than are alternative measures of dividend surprises. The new measure is also shown to be insensitive to the extent to which the options used to identify unexpected dividend announcements are in- or out-of-the-money. [ABSTRACT FROM AUTHOR]

The author reports on three surveys regarding the use of capital budgeting techniques which were given in 1970, 1975 and 1980. The difficulties which the differences in the various surveys present in regards of determining companies involvement in budgetary techniques are discussed. Differences which exist in the three surveys regarding the way in which companies use project evaluation techniques in order to evaluate capital expenditures are discussed. According to the article, the surveys showed that a shift was occurring in which sophisticated budgetary techniques were being used.

Abstract  Aquaculture is a growing and high-value industry that depends on access to and wise use of shared inland, coastal and marine resources. Varied stakeholders and communities are very interested in these public resources, and there has been conflict about how the aquaculture industry uses them. Prior to the research discussed in this article, there have been few large-scale studies of community perceptions of aquaculture. Our research drew upon an extensive literature review, stakeholder interviews and a survey mailed to the public in two regional case studies in Australia: the Eyre Peninsula in the state of South Australia and Port Phillip Bay in the state of Victoria. The data revealed some public support for aquaculture’s socioeconomic benefits and strong interest in minimizing the risk of its environmental impacts. There were mixed opinions about the trustworthiness of governments’ aquaculture decisions and actions. Some industry sectors attracted greater trust and lower perceived environmental risks. The importance and credibility of different information sources varied. There was strong support for improved dialogue among governments, the aquaculture industry and communities. Key differences between the regions included levels of awareness of and knowledge about aquaculture. Our research is consistent with literature on risk communication and perception that suggests that conflict and subsequent costs to industry and the community can be overcome or mitigated if government and industry understand, acknowledge and respond to community perceptions of the industry. [ABSTRACT FROM AUTHOR]

The article discusses the effectiveness of the comparability tables of the Census of Retail Distribution by the U.S. Bureau of the Census. The comparability tables were necessary because between the years of 1929 and 1939, retail outlets had shifted functions considerably, and a person using the Census information would have had to use their best judgment for specialty retailers. The author illustrates that the tables by the Census Bureau failed to illustrate proper comparisons between retailers of 1929 with those of 1939, and offers suggestions on how to improve the tables. The author's table is included in the article.

The author discusses the findings of the 2011 Cambiar Future of Research Study conducted by the journal to assess the growth prospects for corporate market research. The survey revealed the possibilities for major transformation of the industry by 2020. Several corporate researchers that are expected to undergo immense growth in 2020 include Starbucks Corp., Pepsi-Cola Co., and Novartis AG.

In the field of digital business ecosystem, the self-regulation feature plays crucial role. ICT supports biological and sociological phenomena through efficient electronic services. One of the main roles is building and enhancing efficient relationships between actors within the ecosystem. Problem of interaction between commercial subjects depends on expected benefits. These expectations are predictors of successful result from realized transaction with potential partner. And this predictor is based on trust and trustworthiness. The paper presents trust as crucial factor for cooperation and discusses specifics of several trust building mechanisms to increase the level of trust in e-cooperation within digital business ecosystems. Based on results provided by questionnaire survey in Slovak business environment, the paper discusses the relationship between the level of respondents' electronic business experience and their preferences for the portfolio of trust building mechanisms. [ABSTRACT FROM AUTHOR]

The article summarizes the findings of a survey conducted among 4,387 workers in low-wage industries in the three largest U.S. cities including New York City, Los Angeles, California and Chicago, Illinois. A rigorous survey methodology was incorporated in the study, which allows the researcher to reach the vulnerable workers who are often left out in standard surveys. Further, the study tries to answer the questions on how common workplace violations, which industries have high cases of workplace violations and who are the workers that are mostly affected by the violations.

Analysis of survey results from 440 manufacturing multinationals active in the Asia-Pacific shows that there are significant differences in the patterns of location decisions for different corporate activities in the region. Analysis of a random effects mixed model of activity location suggests relationships between a variety of location and firm attributes and foreign investment in different activities, and shows that the patterns of significance among the explanatory variables differ across different activities. The results are consistent with the view that firm activities, along with resources and knowledge, should be viewed as fundamental components of the multinational firm. [ABSTRACT FROM AUTHOR]

Recent technologies have reduced some of the major barriers to capturing, coding, and analyzing qualitative data from survey respondents. This has prompted a renewed interest in including open- ended questions on employee surveys and a corresponding need to better understand the potential biases of personnel who choose to provide comments. The present study used data from a climate survey (N = 661) to empirically examine qualitative comments and their relationship with quantitative survey ratings. Results revealed that relatively dissatisfied employees were more likely to provide comments than their more satisfied counterparts. Moreover, open-ended responses were disproportionately negative in tone and tended to echo commenters' closed-ended satisfaction ratings. For most survey dimensions studied, the length of comments increased as they became more negative in tone. Finally, the data revealed very few demographic differences between respondents who provided comments and those who did not. [ABSTRACT FROM AUTHOR]

The article describes the Ifo Business Survey, which is being conducted by Ifo Institute in Germany. It discusses the data quantity, documentation and the availability of the survey, as well as the previous scientific usage of these data. An overview of the Ifo DataPool, in which the micro data of Ifo Business Survey are available, is also offered.

Using individual business surveys, this study examines the most important factors for firms' decisions to relocate or expand in the past as well as their intention to relocate or expand in the future. Results indicate that factors related to firms' internal characteristics, features of location sites, and the general economic environment may affect firms' past and future decisions. These factors are found to be generally consistent in their impact upon the past and future decisions with several noticeable differences. The hypothesis of footloose firms is supported by this study. [ABSTRACT FROM AUTHOR]

Purpose - Organizations wishing to implement TQM face unavoidable profound changes in performance measurement and are in need of guidance and better understanding of the role of different performance measurement methods and systems. The objective of this paper is therefore to provide guidance for future TQM adopters through investigation of existing practices implemented by a group of finalists in the total quality category of Canada Awards for Business Excellence. Especially the usage and perceived appropriateness of different methods are of interest. Design/methodology/approach - A sample of finalists in the total quality category of Canada Awards for Business Excellence was surveyed. The data were collected either through in-depth personal interviews or by mail/phone using a questionnaire. Next, descriptive statistical techniques were used to analyze the data. T-statistic tests were performed in order to determine the significance of the results. Findings - Regarding the extent of use and appropriateness of the traditional and TQM-related performance measures (PMs) and systems/methods (PMS) found in TQM environment, the findings reported that PMs and PMS, used and considered appropriate by TQM adopters, are predominantly process-oriented (process sequence flow charts, Pareto chart, cause and effect diagram), long-term-oriented (market research/customer survey, percentage of sales from new products and absolute market share), and customer-oriented (number of complaints, percentage on-time delivery, overall customer satisfaction). Research limitations/implications - The small sample limited exclusively to finalists in the total quality category of Canada Awards for Business Excellence may be a limitation. Practical implications - This research provides guidance for companies considering implementation of TQM or in the process of adopting TQM with regard to the design of a performance measurement system that would support their TQM efforts successfully. Originality/value - This research is looking at extent of use of performance measures and methods and at their perceived appropriateness by TQM adopters at the same time. Thanks to this approach it provides valuable insights into performance measurement in TQM both for academics and for practitioners. [ABSTRACT FROM AUTHOR]

This paper seeks to reconcile evaluative practice with theory, focusing on the micro-evaluation of UK regional industrial policy. Two issues are examined: the measurement of the pecuniary external effects, including displacement and linkages; and the concept of 'additionality', which is central to the industrial survey approach. It argues that current evaluative practice is at odds with theory, but while cost-benefit analysis simplifies the measurement of the external effects, it has other features that may limit its appeal. On 'additionality', the paper traces its evolution, and shows that it is a multi-dimensional concept. It argues that in practice the use of 'additionality' is deficient as it ignores the firm's private funds and all forms of deadweight transfer. [ABSTRACT FROM AUTHOR]

This paper explains how agency conflicts—and potential agency conflicts—can influence the investment decisions of small firms, and provides evidence of these effects using data from a recent survey of small firm investment practices. The survey asks business owners to identify their most important investment concern—overinvestment or underinvestment. We find that underinvestment concerns are more prevalent in growing firms, and those with concentrated ownership and control structures. Overinvestment concerns increase as firms adopt less-concentrated ownership and control structures. These results suggest that the management challenges facing small firms shift as the degree of separation between ownership and control becomes greater. [ABSTRACT FROM AUTHOR]

This paper contributes to the ongoing work and debate on the value of project management, accomplishing this through an empirical investigation of practitioner perceptions on the relative value of different project management practices and their potential to contribute to improved project performance. This investigation is based on a large-scale survey of 753 project management practitioners. This paper aims to answer four questions relating to the value of project management. By identifying the most valued practices, practitioners and organizations can identify their priorities when developing their project management competencies. This can also guide the profession in selecting priorities for future development. When choosing priorities to develop and implement, organizations can look to the tools that practitioners identify as most valuable, as having the most potential for increased contribution to project performance, and as presently under-utilized. In order to fully understand the nature of project management practices, and the mechanisms through which these create value, researchers must better clarify the distinction between the project phases and project processes. These findings can help project management professionals in selecting priorities for future development. [ABSTRACT FROM AUTHOR]

Technology managers are faced with identifying emerging technologies with the greatest economic potential. Text mining of technical information sources has great potential for structuring and analyzing the vast amounts of information that is available today. There are tools available capable of analyzing patents and publication databases for trends, identifying emerging activity, and monitoring competitors. However, a disconnect between managers' information needs and the analysts' information provides a significant challenge. Additionally, technology managers are not accustomed to processing derived knowledge obtained through text mining. Thus, analysts must present information to managers so that they can easily and accurately interpret it. This paper investigates an approach that presents derived information in the context of stated information needs by technology managers. Those information needs are assessed via survey, applied to a sample technology record set, and evaluated according to stated criteria. [ABSTRACT FROM AUTHOR]

The article discusses the results of surveys of the heads agricultural organizations and private farms, conducted by the Center for the Study of Business Conditions of the Russian government and the Federal Agency for Government Communications and Information. The survey showed that majority of the respondents were pessimistic about the economic condition of agriculture in 2002. About 61 percent of respondents cited the increased criminal presence in wholesale and small-lot wholesale food markets.

This paper reports the empirical findings of several surveys conducted among enterprises in Portugal in order to identify and summarise relevant enablers and constraints that may influence the implementation of telework in the Portuguese business environment. It also provided some common characteristics that will help us draw the profile of a Portuguese potential teleworker. [ABSTRACT FROM AUTHOR]

This article examines five types of labour market institutions: statutory minimum wages, working-time regulations, hiring and firing regulations, trade unions and industrial relations. It uses the results of surveys that were carried our between 1996 and 2001 among senior business executives from 12 transition countries. In these surveys the managers characterised the institutions of their respective countries. The article conducts multivariate regressions incorporating the survey results and finds that high statutory minimum wages, strict working-time regulations, tight hiring and firing regulations, powerful unions as well as confrontational industrial relations lead to higher unemployment and lower employment, mainly among the problem groups of the labour market: the low-skilled, the long-term unemployed, young people and women. [ABSTRACT FROM AUTHOR]

A telephone survey of 517 corporate executives in large and mixed-sized companies was used to determine the status of business- to-business (B2B) e-commerce. Findings included that only onequarter of respondents used B2B e-commerce in their businesses, but 41% said that their companies planned to add e-commerce to their Websites. Of those who conducted e-commerce, 73% found it a profitable way to reach customers without cannibalizing traditional sales revenue. The timing of the survey, between periods of economic expansion, makes this a valuable benchmark for the adoption of e-commerce. [ABSTRACT FROM PUBLISHER]

Survey sampling textbooks often refer to the Sen—Yates—Grundy variance estimator for use with without-replacement unequal probability designs. This estimator is rarely implemented because of the complexity of determining joint inclusion probabilities. In practice, the variance is usually estimated by simpler variance estimators such as the Hansen—Hurwitz with replacement variance estimator; which often leads to overestimation of the variance for large sampling fractions that are common in business surveys. We will consider an alternative estimator: the Hájek (1964) variance estimator that depends on the first-order inclusion probabilities only and is usually more accurate than the Hansen—Hurwitz estimator. We review this estimator and show its practical value. We propose a simple alternative expression; which is as simple as the Hansen—Hurwitz estimator. We also show how the Hájek estimator can be easily implemented with standard statistical packages. [ABSTRACT FROM AUTHOR]

In an effort to take advantage of access to valuable resources and increased market presence, many U.S. manufacturers have pursued production sharing relationships in a variety of overseas locations. These efforts are seen as methods of combating several threats to firm performance: increased domestic production costs, escalating international manufacturing competition, and ever changing barriers to entry regulations. From the perspective of an integrated North American competitive strategy, two geographic areas-Mexico and the Caribbean Basin -have received much attention as potential operating locations. Using a survey of corporate managers responsible for strategic business unit operations, this study investigates and compares the manufacturing and logistics performance of U.S. manufacturers operating in Mexico and the Caribbean. Relationships between logistics performance, manufacturing performance, and firm performance are examined and managerial implications are discussed. [ABSTRACT FROM PUBLISHER]

This article analyzes the effect of marketization on personal income inequality in urban China as mediated by three types of work units: low-profit state firms (LPFs), high-profit state firms (HPFs), and market firm (MFs). Results based on two urban survey data sets show that while the influence of redistributive power declines, returns to human capital do not monotonically increase as a firm's proximity to the market increases. Although returns to human capital are higher in the market sector than in the state sector, the effects of education on earnings are weaker in HPFs than LPFs within the state sector. The inconsistency is attributed to the effects of bonuses that are equally distributed among employees in HPFs. [ABSTRACT FROM AUTHOR]

This study provides results of a survey of business curriculum internationalization at AACSB member U.S. colleges and universities. The majority of member schools have substantially increased international exposure at their institutions during the 1990s. Diverse methods of internationalization remain. Joint programs, student and faculty exchanges and foreign language requirements are increasingly in place. Elective specialized international courses are the dominant method of curriculum internationalization, but many schools also add international content to existing non-international courses. [ABSTRACT FROM PUBLISHER]

This paper presents an extensive analysis of the behavior of union and nonunion wages over the business cycle, using quasi-panels developed from the Current Population Survey, in an attempt to resolve or reconcile competing claims about the cyclical behavior of union and nonunion wages. Union wages were roughly as procyclical as nonunion wages were, prior to the early 1980s. Substantial reductions in union wage procyclicality since then are associated with reductions in the procyclical exercise of bargaining power. [ABSTRACT FROM AUTHOR]

The Business Longitudinal Survey (BLS) was designed to provide information on the growth and performance of Australian employing businesses and to identify selected economic and structural characteristics of these businesses. The coverage of the survey is extremely broad; it includes new and existing businesses, industrial relations and business operational information, business practices and intentions and business performance and competitiveness. The unit of reference for the BLS is the management unit. The management unit is the highest level accounting unit within a business, having regard for industry homogeneity, for which accounts are maintained. The aim of the BLS was to provide information on the growth and performance of Australian employing businesses and to identify selected economic and structural characteristics of these businesses. To a large extent, these aims have been met by the BLS. Although the coverage of the survey is extremely broad, the information released from the BLS is of a high quality.

The UK housing industry has been slow to adopt new working practices which have brought improvements in product quality and customer focused operations to many sectors of manufacturing industry. Instead, the dominant business driver has been land and house price inflation, with the market characterized by pronounced boom-and-bust cycles. Reports on the sector often have highlighted the need for research and action aimed at bringing about fundamental changes in its operations, both to satisfy social needs and benefit the companies in the industry. This paper examines the drivers needed for implementing new customer focused business processes in the sector. Of particular importance is the development of a product strategy based on an understanding and analysis of the market. Results are presented from a large market survey that was carried out, and their implications for the industry are discussed. [ABSTRACT FROM AUTHOR]

The article focuses on a survey on corporate planning and management. The survey is composed of three parts including the context within which the corporate approach is developed, the content of the corporate approach to management and planning and some of the criticisms that have been made of the approach. Corporate planning and management were seen to be a coherent alternative to existing patterns of organization but, they were also perceived to represent a solution to the problems detailed in earlier reports.

Using union contract and industry wage survey data, this article examines the effect of discounting on cooperative bargaining behavior by unions and firms. Game theory predicts that higher discount rates raise the temptation to defect from cooperation. Measures of cooperative behavior included the presence of merit pay, incentive pay, wage-employment guarantees, or labor-management study committees. Discount rates were proxied by the relevant industry's failure rate. Failure rates generally had negative effects on cooperation. Industry Wage Survey results showed larger effects for union than nonunion establishments, providing support for the union bargaining framework. [ABSTRACT FROM AUTHOR]

This article presents the results of a survey which examined the attitudes of U.S. and Canadian executives toward business opportunities in China, and the reasons for U.S. companies' greater involvement in the Chinese market than their Canadian counterparts. Differences between U.S. respondents and Canadian respondents suggested that foreign investors may share some general concerns about China but that different groups may also have different concerns. Respondents saw the Chinese market as providing many potential opportunities, largely as a function of the size of its internal market. The market is less attractive when one considers the Chinese government restrictions and economic and business practice differences.

The article discusses that small firms likely account for less than five percent of the total research and development (R&D) consumption's in the United States, even the contribution to R&D output may well be much greater than the percentage implies. The available information on larger firms' R&D actions, data on smaller firms' R&D do not exist are less than satisfactory. The statistical description and analysis of the mail survey responses by firm size and by industry classification presents the summary of the respondents' written suggestions on how the R&D activities could be assisted or improved.

This article examines the effects of tax policy on capital expenditures based on a survey of firms in non-financial industries in the U.S. The author cited that various analyses attempted to estimate the effects of investment tax incentives by incorporating their presumed implications in more general variables such as the costs or rental price of capital and estimating the parameters of these more general variables. A brief discussion on inconclusive results of inclusion in general investment functions of survey responses as to anticipated or actual effects of the tax measures on expenditures was provided by the author.

This paper deals with the interrelationship among firm scale, factor intensity and efficiency using the Chinese industrial survey data in 1985 and stochastic frontier models. According to empirical analyses made, it is found that (1) labour-intensive enterprises are, on an average, more efficient than capital-intensive ones; (2) there are no gains from economies of scale among the sample; and (3) the existence of a two-tier price system greatly influences, either directly or indirectly, the performance of the Chinese enterprises. It is also observed that mines like the county and prefectural level ones are able to overcome disadvantages associated with small scale and to benefit from other sources of efficiency. Overall, they reveal the highest efficiency ratings. [ABSTRACT FROM AUTHOR]

Most empirical work on expectations has focused on price expectations. This paper extends that work by evaluating the properties of manufacturers' expectations of a range of nominal and real variables. The data for this study consist of individual firm responses to the New Zealand Institute of Economic Research's quarterly tendency survey over an unusually long period of 24 years from 1964 to 1987. Measures of accuracy, bias and efficiency are constructed and the results indicate that the properties of expectations differ across variables and conclusions drawn from empirical studies of price expectations should not be generalized. Manufacturers are more accurate at forecasting changes in prices than quantities. The 'mainstream rational expectations hypothesis' is rejected for most of the quantity variables but the case for rejection was not so clear for expectations of prices and costs. The results are consistent with the view that price expectations behave more like plans than forecasts. Firms' views about costs are shown to have a similar plan like character. The paper also includes the results of a preliminary investigation into the behaviour of expectation errors over the business cycle. [ABSTRACT FROM AUTHOR]

This article examines the determinants of the diffusion of team production systems (modular assembly) and the impact of these systems on firm performance relative to traditional assembly systems in the apparel industry. The article draws on an extensive survey providing detailed information on a wide range of manufacturing practices and retail relationships in the U.S. apparel industry. We find that recent diffusion of modular practices is driven primarily by the product market. We also show that modular systems affect business-unit performance (particularly operating profits) where they are combined with complementary investments in information systems linking apparel suppliers with retail customers. [ABSTRACT FROM AUTHOR]

This article examines the correlation between the level of wage rate and establishment size. The Industry Wage Survey (IWS) program of the U.S. Bureau of Labor Statistics, basic data source, surveys some 70 narrowly defined industries, most of them at three-to five-year intervals. Each survey collects data on straight-lime average hourly earnings for selected occupations representing the industry's wage structure; information on union status, employment size, and other characteristics of the establishment is also included. From the IWS data, we selected 34 recently surveyed manufacturing industries for the sample. Size of area coefficients were generally positive as expected. Twenty-two of the 59 area coefficients in these nine industries were positive and significant. Notably, Paints and Varnishes had five of seven statistically significant area coefficients, and Meatpacking, four of six. All the establishment size coefficients were also significant, indicating that size of establishment is not simply a proxy for size of area.

Establishment reclassification occurs when an establishment classified in one industry in one year is reclassified into another industry in another year. Because of survey design rules at the Census Bureau these reclassifications occur systematically over time, and affect the industry-level time series of output and employment. The evidence shows that reclassified establishments occur most often in two distinct years over the life of a sample panel. Switches are not only numerous in these years, they also contribute significantly to measured industry change in industry output and employment. The problem is that reclassifications are not necessarily processed in the year that they occur. The survey rules restrict most change to certain years. The effect of these rules is evidenced by looking at the variance across industry growth rates which increases greatly in these two years. Whatever the reason for reclassifying an establishment, the way the switches arc processed raises the possibility of measurement errors in the industry level statistics. Researchers and policymakers relying upon observations in annual changes in industry statistics should be aware of these systematic discontinuities, discrepancies and potential data distortions. [ABSTRACT FROM AUTHOR]

Coauthorship in major marketing journals has increased since the 1960s. A survey of recent coauthors indicates the primary reasons for this increase were to improve the quality of the paper by combining complementary skills. Writing activities were the most critical factors in collaborative work. Quality of contribution outweighed quantity of effort. [ABSTRACT FROM AUTHOR]