Vendor Selection with Bundling*

Product bundling has become increasingly prevalent not only in consumer goods but also in the industrial sector. We study a purchasing problem in which a buyer must obtain necessary numbers of various stock items from a variety of vendors who charge different prices, have limited capacities and different levels of quality, and offer bundled products at discounted prices. We examine relationships among different bundling scenarios and show that the most general scenario is one in which free items are given to the buyer when sufficient quantities are purchased. We develop a mixed integer linear program that finds the purchasing strategy for the buyer that minimizes the total purchase cost. We present computational results which indicate that the problem is very tractable to solve optimally on a personal computer with standard optimization software. Finally, three extensions of the model are discussed.     

The weighted jackknife for ratio estimation

Using the idea of impirical influence function, Hinkley (1977), the weighted jackknife technique is extended to ratio estimation. A weighted jackknife variance estimator for the ratio estimator is developed. Using the prediction theory approach, the properties of the weighted jackknifed variance estimator are examined. The implications of the failures of regression model on the behaviour of the weighted jackknifed variance estimator, for ratio estimation, are also studied.     

Strategic planning in a regulated trade bloc: The pharmaceutical industry in the European union

This article reports the results of personal interviews with multinational managers regarding the changing business environment in the European Union (EU). The study investigates pharmaceutical executives' perceptions of significant issues facing their industry in the EU and what types of strategies these managers might consider undertaking to survive in this regional trade bloc. Mahon and Murray's (1981) typology of strategies for regulated industries is used to evaluate the interview data. Overall, the pharmaceutical managers exhibit a reactive response to the changing pharmaceutical marketplace. The article concludes with a discussion of potential strategies for dealing with the regulated framework governing this industry in the EU.     

Population policy in India

The financial allocations made for the family planning program in India since the early 1950s suggest that a very high priority is attached to population control policy. At the current rate of exchange, the public sector investment will have been over 5.3 billion U.S. dollars by the end of the Seventh Five Year Plan, 1985–1990. It is claimed that over 85 million births have been averted over the last three decades. The number of couples currently protected by the various contraceptive methods, as of March, 1987, is estimated to be 55 million, or 41.4% of the 132.6 million eligible couples with wives 15–44 years-old.The long-term goal of the national population policy is to attain replacement level fertility (approximately 2.3 children) per couple by the turn of the century, implying a crude birth rate of 21 and a death rate of 9 per 1,000 persons. In view of very slow progress in the reduction of the crude birth rate, particularly in the Hindi-speaking populous states of Bihar, Madhya Pradesh, Rajasthan, Uttar Pradesh, and Haryana, the target for the country as a whole is most likely to be reached by 2010–2015 A.D.The observed stalled decline in the crude birth rate between 1975 and 1984 at the national level is analyzed in terms of changing age-sex composition, marital status, set-back to the family planning efforts, and other factors.The long-term projections indicate a national population of 996 million by the year 2,000 A.D., and 1,336 million in the year 2030 A.D. Further, for the very long run, a stationary population of 1.7 billion is hypothesized for India in the middle of the 22nd century.The data analyzed in this paper was collected in 1986 at the Delhi School of Economics through the courtesy of the Shastri Indo-Canadian Institute, Calgary/New Delhi. Appreciation is expressed to both institutions and to Drs. P.P. Talwar, M.K. Premi, K.B. Pathak, and Dr. Ashish Bose. Please direct correspondence to Dr. Chaudhry, Department of Political and Economic Science, Royal Military College of Canada, Kingston, Ontario, Canada K7K 5L0.     

The Governance Role of Audit Committees: Reviewing a Decade of Evidence

Even though audit committees have traditionally been a key component of corporate governance regulation, the last decade has witnessed a greater emphasis on audit committee regulation and a parallel intensification of academic research on the subject. This review synthesizes recent empirical research seeking to investigate various aspects of audit committees’ governance role. The review is structured around current regulatory expectations of audit committees seeking to document the extent to which specific characteristics of good practice influence various components of audit committee effectiveness. It is found that larger and more independent audit committees as well as those with financial expertise are more likely to seek a higher level of external audit coverage and assurance. There is also evidence that more independent audit committees are associated with the purchase of lower levels of non‐audit services from auditors, thereby seeking to preserve the independence of the external audit process. There seems a consensus that more independent audit committees and those with greater accounting/financial expertise have a positive impact on the quality of financial statements. Evidence on the stock market reaction to audit committee issues suggests that investors both welcome the presence of audit committees and react positively when members are appointed with relevant expertise. It is also found that internal auditors view certain audit committee characteristics, specifically independence, expertise and frequency of meetings, as leading to more effective audit committee performance. In summary, therefore, this review documents a significant amount of evidence offering support to current regulations concerning the desired characteristics of audit committees.     

The inclusion of minority groups in clinical trials: problems of under representation and under reporting of data

Objective: To evaluate the representation of minority groups in randomized control trials (RCTs), and the frequency with which this information is reported. Study Design: Reviewers collected data on the racial/ethnic composition of study samples from all RCTs published in six leading medical journals in 1999. Results: Of the 280 RCTs, most (204, 71.3%) provided no information on the race/ethnicity of participants. Of the 89 U.S.-based RCTs, 50 (56.1%) reported their minority distribution. Relative to other trials, those funded by the National Institute of Health (NIH) (n = 52) were more likely to report race/ethnicity data (55.8% vs. 23.7%; x2 = 20.9, p <_0.001) and to include nonwhite participants (13.5 % vs. 12.5%; x2=22.7, p<_0.001). Conclusion: Minority groups are currently under-represented in clinical trials. Information on the race and ethnicity of clinical trial participants is currently underreported in six leading medical journals. Reporting of minority group information was significantly better only in NIH funded trials, which also were more likely to include nonwhite participants. This suggests that mandatory reporting policies may have a positive effect on both reporting and representation.     

Migration,Diaspora and Citizenship: A Qualitative Study of the Perceptions of Pakistani Nationals towards the Political Rights of Pakistani Dual Citizens

The dual citizenship has been the subject of intense political debate in Pakistan barring the elected representatives, in parliament, the provincial assemblies and the presidency, from holding dual nationality. The perceptions that holding a foreign citizenship challenges the undiluted loyalty to country further engender question mark over their political participation in country’s affairs. A qualitative study has been carried out in the city of Rawalpindi to explore the stance of Pakistani nationals on such exclusion of Pakistani dual citizens from mainstream politics of Pakistan asking should the individual’s association to the state be an exclusive one? In this paper, in‐depth interviews were conducted with a sample of 40 male and female respondents (22 Pakistani citizens, 18 Pakistani dual citizens) and 6 constitutional experts. The results indicate distrust among Pakistani citizens when considering dual citizens’ right of representation in general elections of Pakistan, stemming from a mistrust of their “split loyalties”.     

Asylum Provision: A Review of Economic Theories

In recent years, economic theories have been used to examine asylum provision by non‐persecutor countries. Unfortunately, the nature of the analyses makes the results inaccessible to many who are interested in understanding the topic from multidisciplinary perspectives but are unfamiliar with mathematical methods in economics. We communicate the findings of those analyses in a non‐mathematical fashion, thereby contributing to a facilitation of interdisciplinary research on asylum policy.     

LMX differentiation: A multilevel review and examination of its antecedents and outcomes

We examine antecedents and outcomes of leader–member exchange (LMX) differentiation, or the variability in LMX patterns within work groups. Individual-level characteristics and behaviors of leaders and followers, group context, and organizational context variables are presented as antecedents. We review and offer theoretical extensions to research examining the outcomes of LMX differentiation at the individual, group, and organizational levels. Our aim is to contribute to a meso-model of leadership and stimulate research that attends to the core element of the LMX model–LMX differentiation.