Graduate recruitment and the single European market

This article investigates changes in graduate recruitment strategies brought about by the Single European Market (SEM) in a sample of UK-based organisations, and compares them with approaches being adopted in France.French and British managers were surveyed on many aspects of graduate recruitment for the SEM, and both groups saw the likely impact of the SEM as significant. But there were differences by nationality: French companies were more active in recruiting graduates from other countries and their managers were more likely to believe that new skills, knowledge and attitudes would be required in the European graduates of the future. The results of this study have a number of implications for educational policy-makers as well as employers.     

Memory of the Organisation and Memories within the Organisation

Although the concept of memory is primarilyassociated with individuals, researcherssuggest that memory could also pertain tosupra-individual groups. It is commonlybelieved that organisations retain someknowledge of the past when key organisationalmembers leave. While there have been empiricaland theoretical works on organisational memory(e.g. Cohen and Bacdayan, 1994; Nelson andWinter, 1982) as well as review works (e.g.Walsh and Ungson, 1991), a critical synthesisof the interpretative approaches oforganisational memory that have emerged ismissing. Using the distinction put forward byBartlett (1961) on memory of the groupand memory within the group, this paperprovides a framework within which we discussand contrast the positions of those that arguethat a memory of the organisation can beidentified and indeed stored in the hierarchyof repetitive patterns of organisationalbehaviour (memory of the group) and thosethat maintain that members of any organisationsdo not share rules and therefore memory doesnot and cannot emerge as a feature of anorganisation (memory within the group). The paper argues that the concept of organisational context constitutes a linkbetween these two main approaches. Implications for theoretical interpretation offirm and empirical research are drawn.     

Ownership concentration and market value of European banks

This paper investigates the relationship between ownership concentration and market value of European banks, and the role of the institutional environment in shaping this relationship. Using GMM dynamic estimator on a sample of European banks over a 13-year period (1993–2005) we find on average a negative effect of ownership concentration on bank value, measured by Tobin's Q. However, this effect varies across different institutional settings; while higher ownership concentration results in a lower bank value particularly in the countries belonging to German legal family, the impact of ownership concentration is positive in Scandinavia. We propose that, besides the legal protection of small investors, the differences in the impact of ownership concentration across the countries could be due to the identity of the predominant owners, i.e. financial institutions in Germany and trusts and foundations in Scandinavia. This in turn implies that restrictions of shareholdings in banks could alleviate governance problems in some countries, but lower bank valuation in others.     

The Alliance Experience Transfer Effect: The Case of Industry Convergence in the Telecommunications Equipment Industry

A central premise of the industry change literature is that firms change their strategic actions when an industry changes. Industry convergence (IC), the blending of boundaries between industries creating competition among firms that previously did not compete, is increasingly impacting many industries and is a salient case of industry change. Acquisitions are an important action shaping the course of IC because they trigger imitation and bandwagon effects further accelerating IC. This paper focuses on why and when learning from alliances reduces uncertainty resulting in acquisitions during IC: an ‘alliance experience transfer effect’. We demonstrate the utility of this mechanism for the substitution‐based form of IC that occurred between the telecommunications equipment and computer networking industries. Our key insight is that when the extent of IC is low there are significant transfer effects but, as the extent of IC increases, firms have access to an expanding volume and diversity of information sources that reduce uncertainty, thus weakening the transfer effect mechanism. We contribute to the alliance–acquisition relationship and learning literatures by demonstrating that the alliance experience transfer effect mechanism explains changes in firm strategic action (alliancing and acquiring) as the extent of IC changes. We also introduce a semi‐convergence perspective by directly measuring the extent of IC.     

The European community: Institutions and publications

The purpose of this speech was to review the institutions of the European Community, their decision-making processes, and the resulting publications. The services of the Washington, DC office of the Commission were also touched upon.     

The revolution in retailing: from market driven to market driving

The first image aroused by ‘retailing’ for many of us, especially those of us who are somewhat older, is that of the corner grocery store. Not so long ago retailing was, and it still is in some parts of the world, a fragmented, local, unsophisticated, traditional business run by vulnerable owner-operators. Yet, here we are talking about a revolution in retailing. Why? What has changed? Fundamentally retailers have grown up over the past 25 years into large, global, technology-intensive, powerful, fast-growth corporations managing their own brands. Several retailers have become the darlings of their stock markets. Hennes and Mauritz, the specialty clothing retailer, has been the top performer on the Stockholm Stock Exchange over the past 10 years. Royal Ahold in the Netherlands, Home Depot and Wal-Mart in the Unìted States, Carrefour in France and Marks and Spencer in the United Kingdom have generated spectacular returns for their stockholders. How have they done this? The leading retailers through consolidation, global expansion, technology push and innovative formats, among other approaches outlined in Figure 1, have been ‘market driving’ rather than ‘market driven.’ They have shaped consumer behavior, transformed the market place, and redefined the rules of engagement with their competitors and suppliers.     

电信产业投入产出模型的应用研究

本文以全国价值型投入产出表中独立出来的电信产业投入产出表为基础,探讨投入产出模型方法在我国电信产业中的应用,主要介绍了电信产业投入产出模型的开发背景、模块层次结构及其应用分析。     

Creating a European high-tech network: A regional approach to a more dynamic internal market

Network Europe or RECIT (Réseau Européen pour la Compétitivité et l'Innovation Technologique) is a collaborative venture of regional development agencies promoting business co-operation, R&D collaboration, and transfer of technology across the national frontiers of Europe. It is partly funded under the European Commission's SPRINT programme. In a short period of time, Network Europe and its progenitor organisations have implemented an active programme of co-operation between European regions.The authors, who belong to a constituent organization in Network Europe, set out the potential benefits of such inter-regional networks in Europe. They argue that if co-operation is not widely achieved soon, Europe may find itself on the losing side in the battle for competitivity in world markets.     

The Need to Establish the Organisation for the Prohibition of Biological Weapons: A Proposal for the Future

Biological weapons are considered, by the international community, as a weapon of mass destruction. When the Biological Weapons Convention (BWC) was negotiated during the 1960s and early 1970s, the negotiators considered unnecessary the establishment of an international organisation to supervise the implementation of the Convention’s provisions by the State parties. It is important to highlight that since the entry into force of the BWC, the international situation has significantly changed. For this reason perhaps the moment has arrived to consider again the proposal of settling down such an organisation in the framework of the strengthening the BWC.     

The boys in the bubble: Internet entrepreneurs and stock market value

This paper expands the set of non-financial indictors of internet stock value to include that attributable to the retention of the founding entrepreneur. The failure of traditional financial value metrics to adequately explain the Internet stock boom has already provoked much research on non-financial indicators of firms value. The current paper adds to this trend of seeking “intangible” sources of Internet stocks value, by focussing on the role of the founding entrepreneur.     

股市政策对股票市场的影响——基于投资者社会互动的视角

本文将影响股市的政策分为五类,检验股市的政策效应;并以新浪财经博客为投资者之间社会互动的媒介,利用文本挖掘技术和社会网络研究方法,构建反映投资者之间社会互动程度、情绪属性以及社会网络中心程度的变量,探讨社会互动对股市政策效应的影响.实证研究表明,舆论导向政策对股市收益率存在显著的正向影响;证券供给需求性政策、货币政策显著提高股市波动率,市场创新与市场交易制度显著降低市场波动率.同时,投资者对专业性政策的解读显著依赖于社会互动,社会互动会放大货币政策对股市收益率的正向影响,加剧证券供给需求性政策对股市波动的影响,平缓市场创新与市场交易制度对股市波动的影响,而不影响舆论导向政策对股市产生的效应.     

Telecommunications and the customer—Prospects for the 1980s

There will be major changes in the telecommunications system during the next decade and computing and broadcasting technologies will contribute to the advances in telecommunication. The author describes the prospects for the customer and the improved systems that will become available.     

The energy market and energy planning

The purpose of this paper is to apply economic analysis to two important international energy problems. One is the short-and medium-term prospects for the Organization of Petroleum Exporting Countries. The second is the much longer run, though related matter of how the transition from presently used energy sources to those we may use in the future can be accomplished.     

To market, to market: the changing face of grocery retailing

Over the past few years, grocery retailing has undergone a tremendous transformation which was driven mainly by changing consumer characteristics. In order to accommodate these changes, the industry has responded in three ways. The most important of these is the introduction of new technology, particularly efficient consumer response (ECR). The second change has to do with innovations in product and/or service offerings. The final transformation is the organisational restructuring and the increasing number of mergers and acquisitions in the industry at both the manufacturer and retailer levels. The implications of these transformations on the marketing mix, productivity and manufacturer-retailer relationships are discussed.     

European management and European business schools: Insights from the history of business schools

This article looks at the history of business schools and identifies specific characteristics that are common to European management schools. On the basis of these characteristics, European management is subsequently defined as a cross-cultural, societal management approach based on interdisciplinary principles. In a final step, a closer look is taken at how European business schools should prepare their students for the unique European management context. It is suggested that such schools should provide courses on cross-cultural management and courses explaining the interdependencies between the private and public sector, offer students opportunities to experience other cultures over the course of their studies, and teach management from an interdisciplinary and practically-oriented perspective.     

The single market: Its impact on six industries

This article analyses the impact of the Single European Market in 1992 as it is perceived by managers and experts in six industries. In particular it outlines the different possible trends and identifies the key factors for success that must be mastered to benefit from the inevitable changes. Finally, it analyses the ability of French firms to acquire the new skills necessary to succeed.     

Solving the Labour Problem Among Professional Workers in the UK Public Sector: Organisation Change and Performance Management

This paper draws together evidence from across the UK public services to present an analysis of public sector organisational change that has been observed and experienced since the 1980s. The argument is that the pattern of persistent change, packaged as a myriad of reform measures, has been centrally concerned with solving the labour problem—low worker productivity and managers not being able to manage—in what are labour intensive services. The now familiar managerial discourse of empowerment and high commitment working practices is highlighted and express linkages are drawn between such themes and the day-to-day practices of performance and human resource management, seen here to be key levers in solving the same labour problem through a reduction in the quality of working lives of many public service workers.     

The market for genetically modified foods: consumer characteristics and policy implications

Conjoint analysis was used to explore consumer preferences for food products that are the product of genetically modified organisms (GMOs). The results of a cluster analysis indicated that consumers fell into three homogeneous groups based on their preference for a branded, low-priced, or GMO-free product. There were some differences between the segments based on the sociodemographic characteristics of age, education, and income. However, consumers in the segment that wished to avoid GMOs were most easily distinguished from consumers in the other two segments based on their high level of risk averseness and belief that GMOs do not positively affect the quality or safety of food products. Implications for food marketers and policymakers are discussed.