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Notes: This paper shows that, in a fixed exchange-rate system with an escape clause, delegating the decision on the magnitude of realignment to an inflation-averse central banker reduces the range of realignment costs for which the policy-maker necessarily devalues. Stressing the influence of devaluation expectations on currency crises, it is also shown that this strategy of delegation reduces the width of the multiple equilibria zone within which self-fulfilling crises occur, thus promoting further the exchange-rate system's stability. The higher the central banker's degree of inflation aversion, the greater is this reduction.

Notes: This paper presents some evidence for the presence of temporal asymmetry in the price-volume relationship in the crude oil futures market. By using threshold models we show that there is bidirectional causality between volume and prices, whereas the conventional model that assumes symmetry can only detect unidirectional causality. The results also show that the price-volume relationship is asymmetric, in the sense that negative price and volume changes have stronger effects (on each other) than positive changes. Some explanations for asymmetry in the price-volume relationship are suggested.

Notes: This paper extends the retroactive most-favoured-customer pricing policy examined by Cooper (1986). He showed that the policy enabled both firms in a duopoly to offer higher prices and to enjoy higher profits. This paper introduces a variable into the most-favoured-customer pricing policy. Then, it shows that there is an equilibrium in which the duopolists can further increase their profits.

Notes: This paper verifies the existence of the favourite-longshot bias in a variety of sports betting markets where odds are set by bookmakers, but the precise pattern of the bias is not identical. Evidence is found to support a central prediction of the Shin (1993) model, which asserts that bookmakers are impelled to create a bias in their odds because of the presence of insider traders: that margins increase with the number of competitors.

Notes: This paper explains the endowment effect, whereby sellers generally demand considerably more for a good than buyers are prepared to pay, and related anomalies. Many decisions, including nominating buying or selling prices, involve uncertainty, and we assert that people experience negative psychological reactions to uncertainty. These reactions can affect a person's valuation of the various options, biasing the person's actions towards the status quo, thus producing the endowment effect. Our model also proposes positive or negative reactions to unlikely prospects, which are able to explain commonly observed behaviour in the presence of ambiguity.

Notes: We consider an n-person non-zero-sum non-cooperative game in normal form, where the strategy sets are some closed intervals of the real line. It is shown that if the pay-off functions are continuous on the whole space and if for each pay-off function the smallest local maximum in the strategy variable is a global maximum, then the game possesses a pure strategy Nash equilibrium.

Notes: Racetrack and sports betting markets have been researched extensively with respect to the question of market efficiency. In contrast to the consistently observed favourite–longshot bias found in racetrack betting markets, it has been shown that gamblers in the market for Major League Baseball games reveal the opposite behaviour. This paper updates the previous study with ten years of additional data for the 1990–99 seasons. The strength of the reverse favourite–longshot bias is virtually identical to the original paper. The result suggests that, contrary to most reported inefficiencies in gambling markets, this bias appears to be permanent.

Notes: We estimate a model that incorporates two key features of business cycles, comovement among economic variables and switching between regimes of boom and slump, to quarterly UK data for the last four decades. A common factor, interpreted as a composite indicator of coincident variables, and estimates of turning points from one regime to the other, are extracted from the data by using the Kalman filter and maximum likelihood estimation. Both comovement and regime switching are found to be important features of the UK business cycle. The composite indicator produces a sensible representation of the cycle and the estimated turning points agree fairly well with independently determined chronologies. These estimates are sharper than those produced by a univariate Markov switching model of GDP alone. A fairly typical stylized fact of business cycles is confirmed by this model – recessions are steeper and shorter than recoveries.

Notes: We develop a simple model to illustrate how the effects of turnover costs on wages can be reinforced by an efficiency wage effect. The insider–outsider theory explains why labour turnover costs allow the insiders to earn higher wages than outsiders. According to the efficiency wage theory, higher wages enhance the insiders’ productivity. Therefore, the costs of replacing an insider by a low–paid, low–productivity outsider are increased, which allows the insiders to raise their wages further. Again, higher wages increase insiders’ productivity, which allows them to earn still higher wages, and so on. Thus, the existence of a link between effort and wages can reinforce the effects of labour turnover costs on wages.

Notes: We construct a model integrating the efficiency wage model of Shapiro–Stiglitz (1984) (SS), with an individual wage bargaining model in the Diamond–Mortensen–Pissarides (DMP) tradition where firms and workers form pairwise matches. We show that when workers may threaten to shirk on the job and there is individual wage bargaining, the wage is always higher and employment lower than in either the SS model, or the (appropriately modified) DMP model. When firms determine workers’ efforts unilaterally, efforts are set inefficiently low in the SS model. In the bargaining model, effort is higher, and is first best when the worker non–shirking constraint does not bind. The overall equilibrium allocation may then be more or less efficient than in the SS model, but is always less efficient than in a pure bargaining model with no moral hazard.

Notes: We study the implications of alternative monetary targeting procedures for real interest rates and economic activity. We find that countercyclical monetary policy rules lead to higher real interest rates, higher average tax rates, lower output but lower variability of tax rates and consumption relative to procyclical rules. For a country with a high level of public debt (e.g. Italy), the adoption of a countercyclical procedure such as interest rate pegging may conceivably raise public debt servicing costs by more than half a percentage point of GNP. Our analysis suggests that the current debate on the targeting procedures of the European Central Bank ought to be broadened to include a discussion of the fiscal implications of monetary policy.

Notes: This essay seeks to show that teaching and learning are to be properly understood, not as an undertaking carried out on the will of a higher power or party, but as a way of life with an integrity of its own, arising from its own integral purposes. The essay thus seeks to provide an understanding of educational practice and of educational thought that contrasts in key respects with Alasdair MacIntyre's understanding, though also with a some notable parallels. A largely forgotten ‘Socrates of Athens’ is identified as furnishing the original inspiration for the understanding of education explored in the essay. Some influential modern (and postmodern) negations of this understanding are then reviewed. Arising from its investigation of teaching and learning as a singular kind of relationship, the essay concludes with a brief sketch of some virtues that might constitute the way of life in question, in its more active and its more reflective moments.

Notes: Much light has been shed on important features of teaching and learning by Alasdair MacIntyre's writings. Yet there are experiences that are crucial to teaching and learning that are unaddressed in MacIntyre's arguments; experiences that reveal education as a distinctive kind of practice. This paper examines one kind of such experience: an experience I call ‘being pulled up short’. Drawing on the work of Hans-Georg Gadamer and Gerald L. Bruns, I analyse an example of teaching King Lear to argue that being pulled up short is a unique experience of disorientation that cannot be taught merely by pedagogical skill, including the modern tools and approaches provided by constructivist learning theory and meta-cognition. The paper concludes by identifying challenges that being pulled up short poses for the education of disposition, and for the aims and activities of teaching.

Notes: This article examines the underexplored relationship between Amartya Sen's ‘capability approach’ to human well-being and education. Two roles which education might play in relation to the development of capacities are given particular attention: (i) the enhancement of capacities and opportunities and (ii) the development of judgement in relation to the appropriate exercise of capacities.

Notes: This paper identifies the key assumptions underpinning current arrangements in vocational education and training (VET) in the UK. These assumptions, and the idea of vocational capability they denote, are rejected in favour of a more coherent conception—a conception centred not on the traditional dichotomy of ‘knowing how-knowing that’ but on what I refer to as the ‘constitutive understandings’ from which both practical and theoretical capabilities can be seen to derive. It is argued that an account of vocational capability in these terms suggests a far richer conception of vocational preparation than current arrangements are able to admit.

Notes: This article argues that church colleges of higher education, in their desire to be distinctive, can benefit from rethinking the relationship between the philosophical and the religious in order to retrieve a view of higher education as ‘upbuilding’. This will be achieved by illustrating how the central idea of speculative philosophy—that our learning about truth occurs in and through the phenomenology of aporetic experiences of the conditions of possibility—can contribute to the debate within church colleges regarding what is different about their higher education. In short I will argue that Hegel and Kierkegaard (amongst others) find the aporetic experience of contingency to be of absolute significance. In what follows I will show how the religious and the philosophical are both constitutive of that absolute significance and how, when allowed to re-form each other, then together (and apart) they commend the kind of ‘upbuilding’ higher education that church colleges espouse.

Notes: The first half of Plato's Hippias Major exhibits the interfacing of the first teacher (Socrates) with the first version of a post-colonial, multicultural information technology system (Hippias). In this interface the purposes, results and values of two contradictory types of operating system for educational servicing units are exhibited to, and can be discovered by, anyone who is not an information technologist.

Notes: In this paper I argue that Confucius' view of learning in the Analects entails critical thinking. Although he neither specified the logical rules of good reasoning nor theorised about the structure of argument, Confucius advocated and emphasised the importance of critical thinking. For Confucius reflective thinking of two sorts is essential to learning: (1) reflection on the materials of knowledge, in order to synthesise and systemise the raw materials into a whole, and to integrate them into oneself as wisdom; (2) reflection on oneself, (a) in order to ensure that such synthesis, systemisation, and integration proceed in an open-minded, fair and autonomous way, and (b) in order to integrate knowledge with the self, that is, to internalise it until it becomes oneself.

Notes: Enquiries into the meanings of words and the nature of things are first distinguished, and two different senses of ‘concept’ identified: a first sense in which ‘concept’ is attached to empirical facts, and a second sense in which a concept marks a purely logical space. The concept of education, in the second sense, is seen to be inevitable for human beings, and already carries certain values with it.

Notes: This paper compares aspects of the thinking of Walter Benjamin and John Dewey. Both attempted to address the problem of ‘poverty of experience’ in modern society by means of an anti-dualistic concept of experience and the concept of media. These concepts can be observed optimally in their work on aesthetics. Such concepts of experience and media were the keys to the development of new conceptions of education. Differences in their understanding of media, however, led them to different strategies in the development of their educational thought. The present paper will show that Benjamin's strategy offers a promising alternative to that of Dewey.

Notes: The relationship between adults and children in liberal democracies is based on two flawed assumptions that are widespread: first, that childhood is an impediment, a passing phase of impaired maturity; and second, that children benefit from the proliferation of rights ascribed to them. Social institutions, and particularly the education system, are correspondingly misconstrued. This article focuses on the combined effect of vulnerability and autonomy as they construct contemporary childhood. I conclude that adults' obligations rather than children's rights are the appropriate social, political and educational basis for adult society's relations with children.

Notes: The Child's Mind 
 John White, 1996, London, RoutledgeFalmer. Pp. 224. Pbk £10.99 $17.95

Notes: I argue here that Alasdair MacIntyre is mistaken when he claims that teaching is not a practice. In particular, I try to throw some doubt on his claim that ‘teaching is never more than a means’ and to challenge his list of things that all students should learn. In the second section, I show how analyses of professionalism endorse MacIntyre's emphasis on complexity and internal criteria for practices. Finally, building on the doubts observed in the first section and the criteria identified in the second, I describe teaching as a relational practice.

Notes: In the first part of this paper the marked differences between the stances of some philosophers of education who view the field as a self-contained discipline and MacIntyre's contrasting view are outlined and discussed, with the author seeing the greater merit in MacIntyre's position. This leads on to a review in the second part of the paper of the differences between MacIntyre and Dunne on teaching as a practice and on the range of issues that underlie these differences. Again, the paper argues in favour of MacIntyre's claim that teaching is subservient to the good it serves, in this case the good of the learner and of the community. Criticisms are then made, however, of how MacIntyre conceives of the good of the community, and of its promotion by learning. In particular, his advocacy of partisan universities and his arguments for rationalising the rivalries between them are faulted. In its concluding part, the paper finds more merit in the pedagogical features of MacIntyre's late work Dependent Rational Animals, particularly the rationale advanced for educating independent practical reasoners.

Notes: Some initial reflections on the theoretical status of philosophy of education suggest that it seems appropriate to regard education and teaching as practices in some sense. Following a distinction between teaching as an institutional and professional role and teaching as a more basic form of moral association, however, some key aspects of this distinction are explored via a contrast between MacIntyrean notions of moral and social practice and more mainstream Aristotelian virtue-ethics concepts of moral character and agency. The paper proceeds to argue that, notwithstanding any and all pressure to regard teaching in institutional and professional contexts as a form of technical or managerial expertise directed to specific social ends, neither teaching nor the moral ends which it more widely serves seem reducible to practices in any such socially defined sense.

Notes: Alasdair MacIntyre has argued that our modern, post-Enlightenment societies lack the shared standards of moral argument that are prerequisite to productive public debate. He measures our situation against the ideal of an educated public, members of which share enough common ground to resolve disagreements rationally because they have been prepared to participate in disciplined argument by their school and university curricula. This paper identifies questions to be addressed and tasks to be undertaken by philosophers who seek radical school reform in order to help create the intellectual, cultural and institutional conditions for productive public debate.

Notes: In this paper, I reconstruct Alasdair MacIntyre's aretaic, practical philosophy, drawing out its implications for professional ethics in general and the practice of teaching in particular. After reviewing the moral theory as a whole, I examine MacIntyre's notion of internal goods. Defined within the context of practices, such goods give us reason to reject the very idea of applied ethics. Being goods for the practitioner, they suggest that the eudaimonia of the practitioner is central to professional ethics. In this way, MacIntyre's moral theory helps us recover the untimely question, how does teaching contribute to the flourishing of the teacher?

Notes: This chapter enquires into the nature of university teaching. I consider whether Alasdair MacIntyre's notion of a practice, together with some of his related ideas, is useful to us here. My argument is that MacIntyre's talk of incommensurable rationalities tells in the end against the fragmentation of higher education and rather points to one distinctive and important role for the university: that the university should be conceived in some respects as a therapeutic community, whose function it is to encourage and enable its members to think together.

Notes: Against the background of enormous interest in virtue ethics, a new trend in moral education has appeared. This new trend, called ‘the virtue approach to moral education’, faces a strong challenge. If virtues are rooted in and developed within practices of a particular tradition, how is moral relativism to be avoided? Ironically, Alasdair MacIntyre, the foremost proponent of virtue ethics, has drawn the pessimistic conclusion that a shared public system of moral education is impossible in a plural society like ours. This paper aims to challenge MacIntyre's pessimistic conclusion, and to explore the viability of moral education in virtues as a shared public practice.

Notes: This essay takes issue with Alasdair MacIntyre's denial that teaching is a practice. It does so less by appeal to MacIntyre's concept of practice than by criticism of his conception of teaching. It argues that this conception, as reconstructed from adversions to teaching in a range of his writings, does less than justice to what good teachers accomplish; and that, if this inadequacy is rectified—as much else in his writings suggests that it ought to be—there are clearer grounds for acknowledging teaching as a practice.

Notes: This paper examines some neglected aspects of the conceptualisation of teaching as a ‘practice’ and as involving a ‘community of practice’. The concepts of a ‘practice’ and of a ‘community of practice’ are brought into focus by contrasting the differing senses of the notions employed in the work of Alasdair MacIntyre and Etienne Wenger respectively. Concepts of educational ‘practice’ and ‘communities of practice’ which embody a coherent overall holistic vision of education are contrasted with senses of educational ‘practice’ and ‘communities of practice’ which relate to lower level, specific and subordinate elements of the educational process which are detachable from such visions. The possibility of specifying a single, common, overall, holistic conception of an educational ‘practice’ or ‘community of practice’ in the context of a pluralistic, diverse, liberal democratic society is discussed. It is suggested that the demands of diversity in this context open up the possibility of, and the need for, diverse forms of teacher education and training based on differing and partly competing conceptions of educational ‘practice’ and ‘communities of practice’ involving contrasting, coherent, overall, holistic visions of education.

Notes: R. K. Elliott once commended R. S. Peters' work in philosophy of education for being an authentic expression of the self. Many philosophers, probably including Peters, might see this more as a weakness. In an attempt to resolve this difference various kinds of continuity between philosopher and philosophy are explored. These point to an ideal of a two-way, and ultimately ‘organic’, relationship whereby the philosophy expresses the self and the self is formed by the philosophy. Ways of teaching to favour the development of such authenticity in novice philosophers are discussed.

Notes: In this paper John White argues that there has been a decline in interest in and support for liberalism in British philosophy of education. He provides examples of work by leading figures in the field that demonstrates scepticism about the key liberal value of autonomy and offers an analysis of new influences in the field that have contributed to this decline. In particular he notes the increase of work from a religious perspective. Doubts are expressed about the practical relevance to education of some of these avenues of thought, and the suggestion is made that they cause those within the field to be more out of touch with society at large, in which liberal values have continued to be the major source of animation. The paper is followed by short responses from four philosophers of education whose work he criticises.

Notes: Although cross-functional teams are often used for new product development (NPD), many companies struggle to implement them successfully. Through in-depth interviews with 71 team members from 18 companies in a variety of technology-based industries, this study focuses on the experiences of the people who actually do much of the work of NPD (team members) and explores their perceptions and attitudes about cross-functional team assignments. The purpose of our study is to identify the factors that influence and shape NPD team member experiences. Our results suggest that although NPD work can be rewarding and productive, NPD team members are often neglected by other team members, project leaders, and senior management. This sense of neglect has important implications for all of these constituencies, but particularly for senior management.

Notes: A study of the evolution of competitive capabilities in exemplar New Zealand firms identified that technology strategy played the key role in motivating the firms' transition to positions of global prominence. Adequate description of these transitions required a view of technology strategy that is more dynamic than those typically available. We use complexity theory to identify, first, a number of positive feedback loops that have driven the technological progression of these firms, second to identify the complex webs of strategic development within which technology has progressed, and finally to explain why these trajectories carry firms to positions of distinctive advantage. These loops come together to impel firms through a radical transition from broad technology dabblers to focussed technology specialists. We view the study as exploratory to a class of studies aimed at understanding the evolution of technology strategy over time.

Notes: Books reviewed in this article:Dengjian Jin, The Dynamics of Knowledge Regimes: Technology, Culture and Competitiveness in the USA and JapanChrisanthi Avgerou and Renata Lébre La Rovere (eds.), Information Systems and the Economics of InnovationJohn T. Scott, Environmental Research and DevelopmentFaïz Gallouj, Innovation in the Service Economy: the New Wealth of NationsAndreas Pyka and Gunter Kuppers (eds.), Innovation Networks Theory and Practice

Notes: Selection of government-sponsored frontier R&D projects is made difficult by the coexistence of the conflicting participating parties, the availability of experts for new frontier technology review, and the ambiguity of new frontier technology. This paper presents a model that includes (1) using the analytical hierarchy process (AHP) method to integrate various expectations from different interest groups into evaluating objectives/criteria, (2) the group-decision method by technical experts based on the predetermined objectives/criteria, and (3) the fuzzy approach in scoring the subjective judgments of the experts. The results reveal that differences of weights toward each criterion exist among various groups. The government and academia care more about social benefits, the researchers are more concerned about intellectual properties, and the experts from industry emphasize the importance of feasibility. The method presented in this paper was applied at a national research institute in Taiwan. The results reveal that: (1) the approach can solve the disparity between the profound knowledge required for evaluation and the different expectation from various interest groups, (2) the fuzzy approach is suitable to frontier technology R&D project selection because of the vagueness of the nature of frontier technology and the difficulties in evaluating quantitatively and accurately.

Notes: This paper outlines the knowledge and technology sourcing practices of a range of key firms and organisations across the UK based on primary research, and analyses the key factors related to managing the technological knowledge boundaries of the firm. In particular, the paper considers the dynamic dimension considerations to such issues. As such it outlines important differences between short and long time horizons, before analysing in more detail some of the implications for firms of technological change over the long term. The paper seeks to highlight the importance of the time dimension in helping to explain why and how firms source technological knowledge externally and how they align their sourcing activities to their strategies associated with developing current and future capabilities.

Notes: The increase of strategic alliance and national or pan-national government collaborative programmes has highlighted the shifting management and policy focus from inducing in-house R&D to promoting a joint partnership between firms and knowledge-generating organisations in the increasingly complex and costly innovation process. Both the ‘dynamic capability’ school and the ‘innovation network’ theorists demonstrate that inter-organisational co-operation has become a crucial mechanism for ‘collective innovation’. However, little attempt has been undertaken to examine the relationship between inter-organisational co-operation and innovative performance at the firm level. The innovative activities and inter-organisational co-operation of integrated circuits and biotechnology sectors across Taiwan and the UK are investigated via a postal questionnaire survey. Multiple logistic regression models are deployed. The result reveals that the types of inter-organisational co-operation enhancing a firm's innovative performance vary across sectors and countries. Despite the variation, this paper argues that a firm's networking ability to co-operate with buyer firms, supplier firms and external organisations is becoming imperative for enhancing innovation in the increasingly distributed innovation process.

Notes: Studies indicate that most European new, technology–based firms (NTBFs) have been founded by relatively senior, highly–educated personnel coming from existing companies. These founders already have strong, industry and market links. A relatively small proportion have spun out of university or other public research facilities. However, this latter group has attracted particular attention from several interested groups, including governments and the scientific establishment. For governments, this has appeared to offer a means whereby public policy could have a direct and significant impact on economic development. Hence substantial public resources are increasingly being committed to support these developments in most industrialised countries. The founders of HEI spinouts are often academics aiming to commercialise nascent technologies and they face challenges which are less likely to arise for the founder with an industry background. The emerging technologies often commercialised in academic spinouts may have many potential applications. At the outset founders must make critical strategic choices of applications to develop, if they are to attract the substantial resources often needed for the risky development process. Some of these choices need an understanding of changing fashions in business models and investors’ current preferences for particular industries. It is a difficult challenge for academic founders with little prior market knowledge and linkages, and no previous experience of professional investors and their requirements, to select the applications and business models which will support successful venture creation. This paper explores a number of key issues which surround these decisions and their relation to the changing business environment. It is concluded that the acceptability of novel technologies and products is mediated by systemic interactions which are ill–understood by industry and government.

Notes: The role of entrepreneurs in stimulating growth in the small business economy has received significant interest in the last three decades. This growing interest is prompted, in part, by the government’s assumption that the establishment and expansion of existing small firms could be greatly enhanced by the promotion of entrepreneurial education programmes in colleges and universities. Whilst there has been significant interest in the role, type and effect of entrepreneurs in the economy, few studies have examined the effect of entrepreneurial programmes on the progression of an idea through to commercialisation. This is because such research, whilst seemingly desirable, is problematic. Evidence can be gleaned through the development of suitable conceptual frameworks and methods, to assess the role and impact of entrepreneurial programmes on the commercialisation of products or processes, and the enhancement of entrepreneurial capabilities. To address this problem, the research will examine different approaches and frameworks that have been developed and applied hitherto. The objective of this will be to highlight the difficulties in assessing the motivations, cognitive and behavioural changes of entrepreneurs. Also, the research will demonstrate the need to undertake adequate controls, which illustrate possible improvement in entrepreneurial capabilities, networks, and credibility in comparison to students that embarked on courses without entrepreneurial elements. The process will confine itself to business development within the higher education (HEI) context. The MSEC has as its remit to provide opportunity, education, awareness and training to foster entrepreneurship within science and engineering departments across four universities in Greater Manchester. This setting will provide a unique situation in which to investigate the development of germinal technology businesses from the inception of an idea to the point of incubation, prototype development and investment. There is a requirement to understand the needs of the virgin entrepreneur, possible obstacles to commercialisation and the process of new venture creation. The methodology to be adopted has been identified, and forges new ground on combining positivist and phenomenological paradigms. The multi–paradigm approach supports the use of critical incident technique to reveal greater insights in to the personal and cognitive development of virginal entrepreneurs, the suitability of enterprise programmes to act as catalysts for venture creation, and their role in supporting technology transfer. The research will not only confine itself to examining undergraduate and postgraduate projects within MSEC’s business creation unit, but will also continue to assess the experience of entrepreneurs’ when they leave the programme. The research also documents the economic contribution of the programme, in terms of generation of new technology–based firms and the impact of entrepreneurs joining established small firms. Ultimately the aim is to build a long–term picture of the role of enterprise programmes in HEIs that will inform policy and practice.

Notes: This paper explores whether policy makers can successfully encourage high–tech venture creation. We outline some of the policy interventions that have been used to stimulate new venture creation. We then present case evidence of how a new high–tech industrial district emerged in Dublin, focussing on the role of various policy interventions. We conclude by arguing that a range of appropriately timed policy interventions can be pivotal in the development of internationally competitive high–tech new ventures. However the case suggests that it was a combination of sector level and direct firm level interventions that stimulated and facilitated the emergence of a cohort of high–tech new ventures.

Notes: In this paper we address the issue of evaluating and introducing disruptive technologies. The empirical data was compiled in an interview–based survey of 20 Swiss organizations of different sizes and from different industries. All of them have been facing the issue of evaluating nanotechnology, and most of them are currently dealing with the introduction of nanotechnology in their products and processes. The underlying framework was elaborated using approaches mainly found in the following streams of technology management literature: technology intelligence, technological decision–making, and technological capability building. The aim of our project was not to advance new management concepts, but to elaborate management principles allowing the organizations to master the challenges during evaluation and introduction of disruptive technologies. We defined these principles through identifying success factors as well as possible pitfalls, and by distilling best management practices in evaluating and introducing nanotechnology.

Notes: In this paper, we demonstrate how regional economic policies to stimulate entrepreneurship and innovation, can lead to successes. More specifically, through a detailed theoretical and empirical analysis, we discuss the critical ingredients that can lead to regional innovation and economic success. These critical ingredients consist of a balanced mix based on the presence of research institutes, a texture of endogenous knowledge–intensive start–ups coupled to larger R&D–intensive incumbents, all of them embedded in a professional environment that supports business advice and services. We illustrate the effects of this mix using empirical material from various innovative regions around the world.

Notes: Books reviewed:Pim den Hertog, Edward M. Bergman, and David Charles, Innovative Clusters: Drivers of National Innovation SystemsEliezer Geisler, The Metrics of Science and TechnologyJean Guinet, Benchmarking Industry–Science Relationships

Notes: Technology management research appears to have a much longer history than is commonly assumed. In this short paper attention is drawn to some of Francis Bacon's writings which appeared in the early seventeenth century, and which contain ideas on laboratory organization that still have relevance today. In fact, it is only recently that the same broadness of laboratory functions described in the earlier text has been re–discovered.

Notes: Traditionally, R&D studies focus on organisational characteristics and internal context factor effects on a firm's R&D activities. This paper extends previous research by analysing firm–level R&D expenditures in the wider context of inter–organisational networks. Using sample of 2002 manufacturing firms in Italy, it provides evidence that R&D intensity is linked to a firm's positioning within an industrial group's hierarchy. Further tests on the antecedents of R&D expenditures are carried out in relation to the effects of firm characteristics and industry factors. Important findings include a significant and positive association between R&D intensity and the firm's size, performance, intangible assets and industry concentration. These findings suggest that, in addition to firm–level factors and its market environment, network resources and organisation may play an important role in driving the intensity of the firm's R&D expenditures.

Notes: Books Reviewed:Oswald Jones, Steve Conway and Fred Steward, Social Interaction and Organizational Change. Aston Perspectives on Innovation NetworksI. Nonaka and T. Nishiguchi, Knowledge Emergence: Social, Technical and Evolutionary Dimensions of Knowledge CreationRonald Mascitelli, Building a Project – Driven Enterprise. How to Slash Waste and Boost Profits Through Lean Project Management

Notes: This article aims to explore the interaction between incubators and industrial clusters, which is an important linkage for local development but has not been analyzed in the literature. A model is proposed to describe this interaction. The Industrial Technology Research Institute (ITRI) Incubator within the Hsinchu industrial cluster, the core of Taiwan's technology industries, is considered to be an empirical case. This case is investigated with the proposed model and methods including data analysis, in–depth interviews, manager surveys and stakeholder analysis. It was found that the clustering effect in the Hsinchu industrial cluster is main factor in the ITRI Incubator's development. The ITRI Incubator in turn reinforces the cluster in some aspects as feedback. This result confirms the existence and importance of this interaction in local development. It is recommended that government officials and incubator managers take account of this interaction in operating an incubator program and utilize the proposed model to analyze the incubator's contributions to its industrial cluster.

Notes: This study empirically examines different patterns of collaborative technological development projects and the key success factors (KSFs), using data from 82 projects in the Korean electronic parts industry. The patterns of technological collaboration were categorized into 4 types by two contingency variables: development motive (technology–push or market–pull) and source of initiation (focal firm– or partner–initiated). The bivariate relationships revealed that project characteristics (technological complexity, demand certainty, and financial support of the government), partner characteristics (the level of trust with partners), and collaborative management practices (commitment of the focal firm, and information sharing in the collaboration process) appear to be different depending on the two contingency variables. Each type of collaborative R&D project also had different KSFs. While diverse characteristics like strategic importance, goal compatibility and information sharing with partners are critical for the success of technology–push projects, just only specificity of collaboration process and outcome appears important to the success of demand–pull projects. For focal firm–initiated projects, project characteristics are KSFs, whilst partner characteristics and collaboration management practice are found to be more critical for the success of partner–initiated projects. The findings suggest that the different contingencies such as development motive and source of initiation bring about different patterns of collaborative technology development projects, which in turn lead to a different set of KSFs, since different information, roles of partners and the focal firms, and collaboration management practices are needed to successfully implement the different types of projects. Based on empirical results, this study discusses managerial, policy, and theoretical implications for the collaborative R&D activities taking place in the Korean electronic parts industry.

Notes:   A neo-Gramscian theoretical framework for corporate political strategy is developed drawing from Gramsci's analysis of the relations among capital, social forces, and the state, and from more contemporary theories. Gramsci's political theory recognizes the centrality of organizations and strategy, directs attention to the organizational, economic, and ideological pillars of power, while illuminating the processes of coalition building, conflict, and accommodation that drive social change. This approach addresses the structure-agency relationship and endogenous dynamics in a way that could enrich institutional theory. The framework suggests a strategic concept of power, which provides space for contestation by subordinate groups in complex dynamic social systems. We apply the framework to analyse the international negotiations to control emissions of greenhouse gases, focusing on the responses of firms in the US and European oil and automobile industries. The neo-Gramscian framework explains some specific features of corporate responses to challenges to their hegemonic position and points to the importance of political struggles within civil society. The analysis suggests that the conventional demarcation between market and non-market strategies is untenable, given the embeddedness of markets in contested social and political structures and the political character of strategies directed toward defending and enhancing markets, technologies, corporate autonomy and legitimacy.

Notes:   This paper explores the distinctive culture that existed within a knowledge-intensive firm (KIF) and also attempts to explain the emergence and effects of this culture. The findings are based on a detailed case study that was conducted over two years within a consultancy firm that created and applied scientific knowledge and expertise to the invention of solutions for clients. The firm employed highly educated scientists, considered ‘leading’ in their respective disciplines and project work was inherently fluid, complex, and uncertain. These kinds of ‘knowledge workers’, and this kind of work, are expected to demand high levels of autonomy. This creates complex managerial dilemmas around how to balance autonomy with control and uncertainty and flexibility with efficiency. The analysis shows how a strong culture based on an acceptance of ambiguity (e.g. in roles, power relations, organizational routines and practices) promoted the development of a loyal, committed, effective workforce and sustained a fluid and flexible form of project working over time. Critically, ambiguity allowed individuals to sustain multiple identities as both ‘expert’ and ‘consultant’. This, coupled with a corporate identity premised on ‘élitism’, helped to maximize commitment to the work and minimize tensions between control and autonomy. Thus the culture that embraced ambiguity (a consensus that there would be no consensus) engendered a form of normative control whereby consultants operated freely and at the same time willingly participated in the regulation of their own autonomy.

Notes:   Though many studies have examined post-acquisition integration challenges, they have mainly focused on rationalistic explanations for the difficulties encountered in post-acquisition integration. There remains little knowledge of how the ‘irrational’ features of post-acquisition decision-making may impede organizational integration. This study attempts to bridge that gap by examining post-acquisition decision-making from a sensemaking perspective. The paper presents an in-depth analysis of a merger between a large Finnish furniture manufacturer and three smaller Swedish furniture companies. By focusing on the sensemaking processes surrounding integration issues, we uncover four interrelated tendencies that illuminate why the frequent problem of slow progress during post-acquisition integration occurs: inherent ambiguity concerning integration issues; cultural confusion in social interaction and communication; organizational hypocrisy in integration decision-making; and the politicization of integration issues.

Notes:   Building on the strategic flexibility perspective, this paper examines the influences of organizational diversity, ownership structure and board characteristics on strategic responses to industrial decline in firms from the UK textile industry. Using samples of exiting and surviving companies it shows that, in line with the predictions of the strategic flexibility framework, the surviving companies tended to have a higher level of organizational diversity. They also tended to have larger institutional ownership and more diverse boards. These factors are associated with higher investment, financial performance, and growth. The results are consistent with the resource and service roles of the corporate governance factors.

Notes:   In this paper we seek to advance the theory and practice of strategic group theory by means of powerful benchmarking tools that allow the composition of strategic groups on the basis of empirically derived production function frontiers. The relative performance of firms is assessed based on multiple inputs and outputs and as a result, firms are associated with different segments of the efficient frontiers. These segments constitute strategic facets and are used in the current paper as strategic group variables. The strategic facets are composed by outlier firms in the sense that they satisfy the Pareto dominance criterion when compared with other firms. Such advancement offers significant advantages compared to the ‘average’ firm that is used traditionally as a basis to define strategic groups. The proposed methodology for the formation of strategic groups has been applied on a panel of data from the grocery industry in the UK in the period 1987–93. The results of the study confirmed the existence of three stable strategic groups and one with a more volatile membership. Performance differences were also identifiled both between and within strategic groups using as criteria traditional accounting methods and also the relative efficiency indices obtained from the benchmarking methodology applied to the panel of data.

Notes:   The central question addressed in this paper is ‘Why have organizational strategies emerged in the public sector?’ Two broad answers are suggested. First, ‘strategies’ profile the organization through identifying aims, outputs and outcomes. Public services must, now, provide such transparency in order to secure on-going funding from government bodies. Once ‘strategies’ are being produced, they also offer an organizational vision that potential additional funding agencies can buy into (with both commitment and money). And public services are short of resources. Second, ‘strategies’ signal greater devolved responsibility in the public sector for both acquiring resources and achieving results. They enable the inclusion of managerial priorities and values in setting the direction of public services. And politicians desire more control over the professionals that dominate public services whilst, simultaneously, wanting to make them more responsible for outcomes. This article explores the growth of strategic planning in a particular area of the public sector – the national parks. Strategies as ‘dormant documents’ and strategies as ‘funding pitches’ are discussed. It is suggested that, in the public sector, strategies should be the object of strategy.

Notes:   This study examined the antecedents and outcomes of psychological contract breach as well as why and how psychological contract breach is related to these outcomes. Respondents were Hong Kong Chinese employees (N=152). Results showed organizational change and history of contract breach to be related to psychological contract breach which, in turn, was related to turnover intentions, psychological withdrawal behaviour, and civic virtue. Further, trust in employer fully mediated the relationship between psychological contract breach and the work outcomes of psychological withdrawal behaviour and civic virtue but partially mediated the psychological contract breach–turnover intentions relationship. Lastly, interactional justice failed to moderate the relationship between psychological contract breach and the work outcomes.

Notes:   There have been notable attempts to capture the changing nature of personnel roles in response to major transformations in the workplace and the associated rise of ‘HRM’. A decade ago Storey (1992) explored the emerging impact of workplace change on personnel practice in the UK and proposed a new fourfold typology of personnel roles: ‘advisors’, ‘handmaidens’, ‘regulators’ and ‘changemakers’. Have these four roles changed now that HRM has increasingly become part of the rhetoric and reality of organizational performance? If Storey's work provides an empirical and analytical benchmark for examining issues of ‘role change’, then Ulrich's (1997) work in the USA offers a sweeping prescriptive end-point for the transformation of personnel roles that has already been widely endorsed by UK practitioners. He argues that HR professionals must overcome the traditional marginality of the personnel function by embracing a new set of roles as champions of competitiveness in delivering value. Is this a realistic ambition? The new survey findings and interview evidence from HR managers in major UK companies presented here suggests that the role of the personnel professional has altered in a number of significant respects, and has become more multifaceted and complex, but the negative counter-images of the past still remain. To partly capture the process of role change, Storey's original fourfold typology of personnel roles is re-examined and contrasted with Ulrich's prescriptive vision for the reinvention on the HR function. It is concluded that Storey's typology has lost much of its empirical and analytical veracity, while Ulrich's model ends in prescriptive overreach by submerging issues of role conflict within a new rhetoric of professional identity. Neither model can adequately accommodate the emergent tensions between competing role demands, ever-increasing managerial expectations of performance and new challenges to professional expertise, all of which are likely to intensify in the future.

Notes:   Many firms worldwide have adopted environmental management systems, and some have taken the extra step and had their systems certified for the international standard ISO 14001. While institutional pressures and market demand often motivate firms to adopt an EMS, the reasons why they certify for ISO 14001 are less clear. In this study, we interviewed members of the Canadian pulp and paper industry who had either an EMS or ISO 14001 certification to understand why they may have become ISO 14001 certified. We found that task visibility and environmental impact opacity lead to differences in a firm's approach to ISO 14001 certification in the absence of coercive pressures.

Notes:   The clothing industry is both a quintessential global industry and one that is inescapably labour intensive. Despite more and more production shifting to low wage economies in the past decades, there remains a significant amount of clothing manufacturing in high wage economies. This study examines the drivers of change that are forcing restructuring in one such country and the outcomes of such changes for the organization of production. Because the changes have involved treating workers as a resource to be developed rather than a cost, preventing labour turnover has become a crucial component of this strategic repositioning. In presenting the results of a national survey of UK clothing manufacturers we find that high labour turnover rates persist. We discuss the historical background to this phenomenon and current trends, and then explore the principal variables that might explain these trends. We conclude with a discussion of the outcomes facing firms in this industry and comment on why managers resist comprehensive changes in organizational routines and the effort bargain.

Notes: This paper seeks to examine empirically the extent to which actors in subsidiaries of multinational companies (MNCs) are able to exercise some choice in the face of global pressures from the MNC headquarters (HQ). We argue that managerial practices in MNCs are not the result of a simple imposition of a global or a MNC organizational rationality but are subject to an interactive process, where differing contextual rationalities come into play. Using data from MNC subsidiaries in Britain and Germany, the paper compares the power resources and strategic choices of subsidiary level actors and shows the ways in which they seek to influence global strategy implementation as it affects local work systems. We investigate the different abilities of German and British managers to shape global restructuring processes in their local organizational contexts and conclude that national contexts impact on both the formulation of parent company strategies via a home country rationality and on the implementation of global strategies via a host country rationality. There are greater national barriers to a MNC policy of convergence based on standardized products and processes in Germany than in the UK.

Notes: The paper argues that there are two dimensions of internationalization: one which refers to the production activities of firms abroad and one which focuses on the corporate governance dimension of firms. While the first one is well known in the literature on internationalization, the financial dimension has not yet been addressed empirically. At the same time there are indicators that financial internationalization is gaining importance. Using a sample of the 100 largest German companies it shows that both dimensions, the real and the financial dimension, do not co-vary and therefore cannot be combined into one index.

Notes: The institutional approach treats organizational forms and behaviour as contingent upon institutions that are durable and socially embedded and so several authors have argued that the nature and modes of operation of multinational enterprises (MNEs) vary according to their national origins. This paper examines the ways in which national patterns of organization and innovation affect Japanese and US MNEs’ global R&D networks and transnational learning, based on case studies of their R&D laboratories in the UK. In particular, it focuses on how these MNEs tap into foreign academic knowledge base and scientific labour through collaborative links with higher education institutions.Relative to many Japanese MNEs, US firms have developed a greater organizational capacity for coordinating globally dispersed learning and embedding themselves in local innovation networks because the liberal institutional environment within which US MNEs have developed enables them to extend their organizational and human resource systems across institutional and geographical boundaries. By contrast, Japanese MNEs appear to be more limited in their transnational learning because of the much more tightly integrated organizational and business system within which they are embedded. The paper also illustrates how the contrasting logics of the US ‘professional community’ and the Japanese ‘organizational community’ model of learning are manifested in MNEs.

Notes: The combination of increasingly international operations, the continuing domestic recession, and the gradual opening of the Japanese economy to foreign investment might be expected to change many features of Japanese multinational companies. In particular, the level and mode of central control of overseas units, especially their reliance on expatriate managers, could change as firms become more willing to use foreign subsidiaries as sources of innovation and learning rather than as delivery pipelines for domestically designed and developed products. These changes are more likely in sectors dominated by non-Japanese firms, such as international financial services. Interviews with managers of 14 Japanese manufacturing and financial service firms in the UK and Japan confirmed substantial differences in their internationalization patterns in the 1990s, both between and within sectors. Car manufacturers in particular invested major resources in transferring significant features of their domestic operations to UK units, usually with expatriate managers, and one was investing in developing an international cadre of managers.In the case of banks and other financial service companies, the continuing banking crisis in Japan and limited profitability of their European operations, had stimulated a variety of responses. While some had simply withdrawn from serving non-Japanese clients, or withdrawn altogether from Europe, others were trying to develop new skills and approaches to compete effectively with established Anglo-Saxon firms at the same time as refocusing on Japanese customers to improve profitability. However, the sharply contrasting labour market practices in London and Japan made it difficult for many banks to develop firm specific skills that would enable them to become competitive in markets currently dominated by western banks. This raises general questions about how multinational companies coordinate skills and careers across differently organized skill formation and control systems.

Notes: Analyses of the foreign expansion of firms based on economics have recently been supplemented with institutionally-oriented studies demonstrating that foreign expansion is partly conditioned by the institutional environment in which the expanding firms are embedded. In this paper, we join this emerging stream of research with an empirical study on three Finnish-based paper industry firms from 1994 to 2000. By showing how changes in the patterns and forms of foreign expansion coincide with changes in the forms of corporate ownership and the cognitive constructions of organizational actors, our study confirms that foreign expansion cannot be adequately understood without reference to the institutional environment in which it originated. In particular, we show that foreign expansion can turn into an institutional requirement that directs the development of firms in part irrespective of the economic aspects involved.

Notes: The 1990s witnessed significant changes in organizational design philosophy. Unique to the 1990s were prescriptions for restructuring involving delayering (the planned vertical compression of managerial levels of hierarchy) (Keuning and Opheij, 1994; Peters, 1992). What did this mean in practice? The current understanding of delayering can be encapsulated in a ‘delayering thesis’. However, outside of the USA and UK there has been limited study and measurement of the extent and effects of delayering. This paper delineates trends in delayering based on surveys of 2964 organizations across three countries and assesses the effects in terms of management structures, workloads, productivity, and the notion of ‘survivor syndrome’. The extent of a subsequent phase of ‘relayering’ is examined. It concludes that delayering has been widespread as an organizational strategy; that there are few signs of a delayering-relayering cycle, but the effects in relation to managers was a collapse of commitment in Australia and South Africa. However, there were significant differences in New Zealand. A downsizing/delayering model is discussed.

Notes: The capitalist and socialist societies of the twentieth century assigned firms different roles within their economic systems. Enterprises transforming from socialist to market economies thus face fundamental organizational restructuring. Many former state-owned firms in the transition economies of Central and Eastern Europe have failed at this task. These firms have pursued primarily defensive downsizing, rather than strategic restructuring, as a result of both internal and external constraints on restructuring strategies.Building on the organizational learning and resource-based theories, we analyse strategies available to management in privatized, former state-owned enterprises in transition economies to restructure their organization. Both internal forces promoting or inhibiting the restructuring process, and external constraints arising in the transition context are examined. A model and testable propositions are developed that explain post-privatization performance. Implications of our research point to the ways in which firms should manage and develop their resource base to transform to competitive enterprises.

Notes: Organizational learning, resourcing and control have been identified in the literature as potential firm-level influences on the performance of international joint ventures (IJVs). The study reported here examines the impact of these factors on the performance of Sino-foreign IJVs. Their performance is assessed in terms of both ‘goal’ and ‘system’ criteria. The hypothesized performance determinants are found to be more strongly associated with variance in system performance than in goal performance. The main performance predictors are the parent companies’ experience with international business and joint ventures, and the quality of resources they provide to the joint ventures in respect of capital investment, new facilities and operational inputs. When good quality resourcing is provided, the sharing of control with local partners also predicts higher IJV performance. The performance effects of these factors appears to be cumulative, implying that further research should examine them together rather than singularly.

Notes: Inter-organizational collaboration has been linked to a range of important outcomes for collaborating organizations. The strategy literature emphasizes the way in which collaboration between organizations results in the sharing of critical resources and facilitates knowledge transfer. The learning literature argues that collaboration not only transfers existing knowledge among organizations, but also facilitates the creation of new knowledge and produce synergistic solutions. Finally, research on networks and interorganizational politics suggests that collaboration can help organizations achieve a more central and influential position in relation to other organizations. While these effects have been identified and discussed at some length, little attention has been paid to the relationship between them and the nature of the collaborations that produce them. In this paper, we present the results of a qualitative study that examines the relationship between the effects of interorganizational collaboration and the nature of the collaborations that produce them. Based on our study of the collaborative activities of a small, nongovernmental organization (NGO) in Palestine over a four-year period, we argue that two dimensions of collaboration – embeddedness and involvement – determine the potential of a collaboration to produce one or more of these effects.

Notes: This paper explores the role of narratives in organizational inquiry and knowledge work. Following the tenets of the phenomenological method, the paper digs into the ‘life world’ of organizations in order to capture the taken for granted stream of everyday routines, interaction, and events that constitute both individual and social practices. An empirical case study examines the narrative-based processes of sensemaking and knowledge acquisition in the setting of a traditional pressing plant at Fiat Auto, Italy. The focus of analysis is on how a best performing team engages in the resolution of disruptive occurrences on the shop floor. Through the deconstruction of narratives underlying problem-solving activities, the case identifies a distinctive mode of investigation conceptualized as ‘detective stories’. The detective's method highlights the interplay between time and narrative in shaping the interconnected processes of organizational knowledge creation, utilization, and institutionalization. More generally, the findings of the paper stress the importance of conjectural knowledge and common-sensical wisdom in the everyday life of organizations.

Notes: This paper identifies influential, but previously unrecognized, subtexts in the writings of Frederick Winslow Taylor. Working with analytical methods developed from reader-response theories of literary criticism, we look at the words of the text as we share the standard meaning-making of the management community, as well as through the words of the text searching out the worldview that emerges from our particular reading of the subtext. We have described our approach to reading as ‘toggling’: that is, switching between reading text ‘rhetorically’ and reading it ‘philosophically’. We conclude that reader identification with textual voices may appear in philosophical as well as rhetorical reading outcomes – that Taylor's text may inveigle readers into accepting a moral worldview wrapped up in a seemingly rational argument – and that ‘toggling’ would empower management theory readers.