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Market Place (market + place)
Selected AbstractsRedesigning Corporate Governance Structures and Systems for the Twenty First CenturyCORPORATE GOVERNANCE, Issue 3 2001Robert A.G. Monks How a corporation is governed has become in recent years an increasingly important element in how it is valued by the market place. McKinsey & Company in June 2000 published the results of an Investor Opinion Survey of attitudes about the corporate governance of portfolio companies. The survey gathered responses about investment intentions from over 200 institutions who together manage approximately $3.25 trillion in assets. Ranging from 17 per cent in the US and Britain to over 27 per cent in Venezuela, investors placed a specific premium on what was called "Board Governance". To put this into perspective, consider how greatly sales would have to increase, expenses be cut and margins improved to achieve a comparable impact on value. "For purposes of the survey, a well governed company is defined as having a majority of outside directors on the board with no management ties; holding formal evaluations of directors; and being responsive to investor requests for information on governance issues. In addition, directors hold significant stockholdings in the company, and a large proportion of directors' pay is in the form of stock options." This correlation of governance with market value by one of the most respected consulting companies in the world creates the foundations of a new language for management accountability. McKinsey has great credibility as a value-adding advisor to corporate managements. Governance is not a cause or a theology for McKinsey; it is an important element in the value of an enterprise. By getting the opinion of what we call Global Investors with portfolios of holdings on every continent, McKinsey has importantly impacted the cost of capital for all corporations henceforth. Admittedly, McKinsey's criteria of "board governance" are blunt. "Every organization attempting to accomplish something has to ask and answer the following question," writes Harvard Business School professor Michael C. Jensen in the introduction to his recent working paper: "What are we trying to accomplish? Or, put even more simply: When all is said and done, how do we measure better versus worse? Even more simply: How do we keep score... . I say long-term market value to recognize that it is possible for markets not to know the full implications of a firm's policies until they begin to show up.... Value creation does not mean succumbing to the vagaries of the movements in a firm's values from day to day. The market is inevitably ignorant of many of our actions and opportunities, at least in the short run...". Surprisingly little attention is paid to what we all intuitively know, that talented people are not entirely motivated by financial compensation. Directors therefore must pay special attention to creating an appropriate environment for stimulating optimum management performance. [source] The wholesale and retail markets of London, 1660,1840ECONOMIC HISTORY REVIEW, Issue 1 2002Colin Smith Markets and marketing are perennial themes in English economic and social history. Yet they remain largely unexplored in relation to London during a period of remarkable growth and change, the long eighteenth century. This article begins to fill that void, by surveying over 70 London produce markets that existed during the period, and identifying patterns in their collective development. It concludes that the physical market place, though ancient in origin, evolved through the ,commercial revolution' as a highly dynamic and diverse institution that played a significant role in London's distribution. [source] Economica Coase Lecture: Reference Points and the Theory of the FirmECONOMICA, Issue 299 2008OLIVER HART I argue that it has been hard to make progress on Coase's theory of the firm agenda because of the difficulty of formalizing haggling costs. I propose an approach that tries to move things forward using the idea of aggrievement costs, and apply it to the question of whether a transaction should be placed inside a firm (in-house production) or in the market place (outsourcing). [source] A New Modernism or ,Neue Lesbarkeit'?: Hybridity in Georg Klein's LibidissiGERMAN LIFE AND LETTERS, Issue 2 2002Stuart Taberner Since unification, critics Ulrich Greiner and Frank Schirrmacher, influenced by Karl Heinz Bohrer, have called for a return to a supposedly repressed modernist tradition in which aesthetic transcendence and subjectivity were valued more highly than any moralising agenda. Other editors and writers such as Uwe Wittstock, Martin Hielscher and Matthias Politycki, however, have promoted a so-called ,Neue Lesbarkeit' based on Anglo-American models stressing readability and story-telling. In both cases, the guiding motivation has been the desire to define a space for German writing within the globalised literary market place. Georg Klein's Libidissi presents a model of a possible third way between a form of modernism that would retreat into the ghetto of the German literary tradition and imitation of the Anglo-American mainstream. The present article thus reveals the manner in which Klein's novel plays with hybridity: hybridity of genre and influences insofar as the book alludes to the Anglo-American tradition of the spy novel and hybridity as a means of resisting globalisation and the eradication of local cultures. [source] Business,Regulatory Relations: Learning to Play Regulatory Games in European Utility MarketsGOVERNANCE, Issue 3 2005DAVID COENArticle first published online: 13 JUN 200 Although regulation is on the rise in the European Union, the liberalization of the telecommunication and energy markets has not created a uniform European Regulatory model. The principle focus of this article is to examine the interaction and regulatory learning between national regulatory authorities and business in the U.K. and German utility markets to assess the degree of convergence and demonstrate how the regulatory relationship has evolved beyond that envisaged in the initial delegation of powers to the regulator. The article shows that independent regulatory authorities have moved from distant and often confrontational relationships with business to strategic working relationships driven by exchanges of information and reputation building and that regulatory learning and trust have evolved at distinct speeds in sectors and countries depending on the number of regulatory authorities in a market place, the degree to which there are concurrent powers between authorities, their discretion in the consultation process, and the length of time that regulatory authorities had existed. Consequently, significant variance is continuously seen in the business,regulator relationships in comparing the young legalist German regulatory authorities with the established independent and discretion-based regulators in the U.K. [source] Sports and celebrations in English market towns, 1660,1750HISTORICAL RESEARCH, Issue 188 2002Emma Griffin This article explores the recreational uses of streets and squares in the early modern market town. Late seventeenth-century financial accounts reveal civic authorities spending small sums on plebeian recreations,bonfires and bull-baitings,usually located in the market square. However, they also reveal a steady decline in municipal support for such recreations in the century following the Restoration. The author uses this evidence to argue that the early modern market place was an important communal space with a cultural significance as well as practical commercial value, and that the century following the Restoration saw the beginning of moves to clear plebeian sports and celebrations out of the public streets and confine the market place to traffic and trading. [source] The effect of income growth on the mix of purchases between disposable goods and reusable goodsINTERNATIONAL JOURNAL OF CONSUMER STUDIES, Issue 3 2007John McCollough Abstract With each passing year consumers find more and more disposable goods for sale in the market place. Even goods that were considered to be reusable goods just a few years back are now disposable goods. As a result the American economy has been labelled a ,throwaway society'. This paper examines a main underlying cause for this trend by linking growth in consumer income with the purchases of disposable goods. More specifically, the model proposes that as incomes rise, consumers will purchase more of both reusable goods and disposable goods. However, as incomes rise, consumers will naturally substitute purchases away from reusable goods and into disposable goods. The shift towards disposable goods occurs because it becomes too costly for consumers to spend their time repairing and maintaining products. Their time is better spent in more productive endeavours. It is simply cheaper (in terms of opportunity cost of time) to dispose of old products and replace them with new products. [source] Milk fats as ingredientsINTERNATIONAL JOURNAL OF DAIRY TECHNOLOGY, Issue 2 2001Ken J Burgess This paper reviews aspects of the use of milk fats as food ingredients from a technico-marketing perspective. Good marketing involves matching the needs of the market place with the strengths of the supplier relative to those needs. A practical approach to using milk fats as ingredients is therefore based on understanding the background science and technology of milk fats, and on appreciating where the attributes of milk fat in its various forms can deliver real benefits to food manufacturers. These considerations have been addressed in three key areas: what are the characteristics of milk fats; how can the properties of milk fats be modified; and what are the typical milk fat ingredients and their applications. [source] Future Directions for the Teaching and Learning of Statistics at the Tertiary LevelINTERNATIONAL STATISTICAL REVIEW, Issue 1 2001Des F. Nicholl Summary Significant advances in, and the resultant impact of, Information Technology (IT) during the last fifteen years has resulted in a much more data based society, a trend that can be expected to continue into the foreseeable future. This phenomenon has had a real impact on the Statistics discipline and will continue to result in changes in both content and course delivery. Major research directions have also evolved during the last ten years directly as a result of advances in IT. The impact of these advances has started to flow into course content, at least for advanced courses. One question which arises relates to what impact will this have on the future training of statisticians, both with respect to course content and mode of delivery. At the tertiary level the last 40 years has seen significant advances in theoretical aspects of the Statistics discipline. Universities have been outstanding at producing scholars with a strong theoretical background but questions have been asked as to whether this has, to some degree, been at the expense of appropriate training of the users of statistics (the ,tradespersons'). Future directions in the teaching and learning of Statistics must take into account the impact of IT together with the competing need to produce scholars as well as competent users of statistics to meet the future needs of the market place. For Statistics to survive as a recognizable discipline the need to be able to train statisticians with an ability to communicate is also seen as an areà of crucial importance. Satisfying the needs of society as well as meeting the needs of the profession are considered as the basic determinants which will derive the future teaching and training of statisticians at the tertiary level and will form the basis of this presentation. [source] Religious Market Share and Intensity of Church Involvement in Five DenominationsJOURNAL FOR THE SCIENTIFIC STUDY OF RELIGION, Issue 1 2000Paul Perl graduate student Proponents of the supply side approach to religion theorize that religious market share,the proportion of people in a geographical area who belong to a given denomination,is inversely related to religious commitment in that denomination. They argue that a small market share motivates religious leaders to compete harder in the religious market place, increasing the participation of members. Another perspective, often associated with secularization theory, make the opposite prediction. It argues that people find it difficult to remain religiously committed in social environments where they are numerical minoritiesbecause other people do not reinforce their beliefs and practices. We use data from a large study of financial giving to analyze the relationship between market share and commitment for five denominations in the United States. We find that market share has a negative effect on church financial giving within all five denominations and a weaker negative effect on attendance in threeof the denominations. We explore whether these effects are the spurious byproducts of pro-religious cultural norms associated with either the South or the presence of conservative Protestants in local areas. In models pooling all denominations, the negative effect of market share on financial giving and attendance cannot be explained away by either of these factors. However, the effect on attendance can be accounted for by congregational size. [source] Disentangling the Differences between Abusive and Predatory Lending: Professionals' PerspectivesJOURNAL OF CONSUMER AFFAIRS, Issue 3 2008LUCY M. DELGADILLO This study describes how mortgage professionals differentiate abusive from predatory lending. Data were analyzed qualitatively. The results indicate that some users of this term do not always adhere to a strict definition of predatory lending but rather use it as a term for any general mortgage abuse and mortgage fraud. Existing laws at the federal- and state-level curtail abusive lending and promote fairness in the market place and they are highly enforced among depository financial institutions. However, unregulated nonfinancial institutions, mortgage brokers, and originators are still a primary source of predatory lending. [source] Thoughts on building a just market societyJOURNAL OF PUBLIC AFFAIRS, Issue 2 2002Michael Thomas Abstract This paper explores the tensions that exist in contemporary society between the individual as citizen and the individual as consumer. The power of the global market place can potentially drive the polity, so it is necessary to raise questions about the means to secure a healthy civic and political life. Financial capitalism, knowledge capitalism and social capitalism are explored as a means of understanding the nature of modern market capitalism. Can financial knowledge and social capitalism be turned into a virtuous circle of innovation, growth and social progress? The paper suggests that trust is the glue, the cement of a just society, and the dimensions of this trust are explored. Finally, the paper examines the nature of stakeholder society. Copyright © 2002 Henry Stewart Publications [source] Packaging reminiscences: some thoughts on controversial mattersPACKAGING TECHNOLOGY AND SCIENCE, Issue 4 2002Frank PaineArticle first published online: 24 JAN 200 Abstract Packaging is necessary in a world dominated by marketing-based economies, which rely on it for the safe delivery of profitable products. It is different from many other functions because packaging has two faces and each face demands a special marketing approach. Also necessary to appreciate is that in the very marketing of all products packaging plays a vital part, yet it is still often treated as a necessary evil and is often used on an expediency basis by product manufacturers. Even the packaging manufacturers themselves still fall into the trap of providing what is asked for instead of designing what is really needed. To describe packaging as in a world of its own is no pretension, for wherever natural or manufactured products are produced, packaging is needed to contain, preserve and protect them in the journey to the market place. Food, drink, clothing, light engineering goods, china and glass, medicines and household chemicals,in all those industries it is packaging made of paper and board, glass, plastic and metal that serves them. The importance of properly designed packaging lies in the fact that it must meet the need for protection of the product from the hazards of damage and deterioration. At the same time it must also provide identification and attractive presentation and meet the appropriate environmental criteria, Copyright © 2002 John Wiley & Sons, Ltd. [source] Under the cobblestones, the beach: the politics and possibilities of the art therapy large groupPSYCHOTHERAPY AND POLITICS INTERNATIONAL, Issue 1 2009Kevin Jones Abstract This paper discusses the politics and possibilities of linking the personal and political with therapeutic and social transformation through a teaching method provided in the art therapy training at Goldsmiths , the art therapy large group (ATLG). Three key ideas of May '68 are related to the ATLG and their relevance to other psychotherapies and psychotherapy trainings is considered. These ideas are: the importance of the ,capitalist' university as an essential terrain in the struggle for social change; the Atelier Populaire's use of art in an anti-capitalist critique of the commodification of art and artist in society, and the anti-imperialist character of the May events. These ideas are related to the theoretical base of the ATLG in the large verbal group literature, Performance Art and to the wide international membership of the ATLG, creating a forum for engaging with global issues. To illustrate these points, we give an example of the interface of the political and the impact of a real event , the university lecturers' strike in 2006 , and the learning that took place in relation to this through the ATLG. We conclude that through a critical engagement with the university within the global terrain of contemporary neoliberalism, the ATLG provides a territory that can integrate the political and therapeutic in arts / psychotherapy trainings; provide a critique and alternative to the commodification of art and artist and engage with issues of difference in the globalized market place. The ATLG prepares the artist / student / therapist / worker to critically engage in the personal and social transformation of the politics of art and psychotherapy provision in the public, private and voluntary sectors. Copyright © 2009 John Wiley & Sons, Ltd. [source] The Strange Career of British Democracy: John Milton to Gordon BrownTHE POLITICAL QUARTERLY, Issue 4 2008DAVID MARQUAND Political debate in modern Britain has been structured by four narratives or traditions, called here ,Whig imperialist', ,Tory nationalist', ,democratic collectivist' and ,democratic republican'. The Whig imperialist tradition goes back to Edmund Burke; it is a tradition of responsive evolution, flexible statecraft, genial optimism and abhorrence of dogmatic absolutes. It prevailed for most of the nineteenth century, for most of the interwar period and for most of the 1950s and early-1960s. Its Tory nationalist counterpart is tense, rebarbative and often shrill. At its core lies a primal fear of the dissolution of authority and a collapse of the social order. Its most notable exponents include Lord Salisbury, Enoch Powell and Margaret Thatcher. The democratic collectivist tradition stresses ineluctable progress towards a just and rational society, to be achieved by a strong, essentially technocratic central state, with the power and will to replace the wasteful, unjust chaos of the market place by planned co-ordination. Formative influences on it were the great Fabian socialists, George Bernard Shaw and Sidney and Beatrice Webb; it achieved its apotheosis under the Attlee Government of 1945-51. The democratic republican tradition is much more inchoate: its exponents have been the awkward squad of British democracy. The most glittering stars in the democratic republican firmament were probably John Milton, John Stuart Mill and R.H. Tawney. It stresses active self-government and republican self respect, embodied in a vigorous civil society and strong local authorities. During the ninety-odd years since Britain belatedly acquired a more-or-less democratic suffrage, the first three traditions have all been tested, almost to destruction. But though the fourth has had great influence on social movements of all kinds, governments at the centre have done little more than toy with it, usually for brief periods. The great question now is whether Britain is about to experience a democratic republican moment. [source] PATTERNS OF ATTENTION: FROM SHOP WINDOWS TO GALLERY ROOMS IN EARLY TWENTIETH-CENTURY BERLINART HISTORY, Issue 4 2005Charlotte Klonk In the aesthetic programmes promoted by the various German cultural reform movements that flourished in the years before the 1914,18 war patterns took on unprecedented significance. This article investigates the importance of abstract pattern-making in the display strategies adopted in the museum and in the market place. Philosophical and experimental psychology was a common background in both cases. Among the questions that the article addresses are the following: Why were abstract colours and forms and their rhythmic arrangement assigned such a prominent place in Germany in the first decades of the twentieth century? Why were they favoured above the more traditional illusionistic designs? Did gendered assumptions about consumption determine design choices? The article ends with an account of a new kind of display strategy that emerged in the late 1920s in antithesis to pre-war efforts to engage patterns of attention. This abandoned the attempt to make a psycho-physical impact on the perceiving subject in favour of a discursive strategy that posits subjects as part of rational collectives. [source] Better to shop than to vote?BUSINESS ETHICS: A EUROPEAN REVIEW, Issue 3 2001Noreena Hertz This paper begins by reflecting on the current generalised political apathy signalled by low voter turnout and falling party membership. It would appear that people are exercising political choices not at the ballot box but by means of consumer activism. Corporations respond to consumer pressure in a way that governments do not, and are gradually assuming the role of global political actors. But this is a dangerous state of affairs for several reasons. In the first place, social welfare can never be the core activity of corporations. Corporate social motives are commercial, and there is a danger that their social policy decisions will be driven by the logic of the market place rather than social need. Recession, for instance, will curtail their social responsiveness, as will decisions to relocate. It is also the case that partnerships between governments and corporates run the risk of removing checks on the growth and abuse of corporate power. And finally, what price does society have to pay for the growth of corporate benevolence? [source] Dipteran leafminers in the vicinity of glasshouses and plant markets in Lithuania,EPPO BULLETIN, Issue 1 2005H. Ostrauskas Areas surrounding the glasshouses of 60 growers, and 16 plant markets, were surveyed in 2001/2003 to determine the distribution of dipterous leafminers in Lithuania, including regulated species. In total, 152 species belonging to 7 families were discovered, and the infested host plants represented 46 families. The relative frequency of Liriomyza bryoniae was 32% in the vicinity of glasshouses and 19% in market places. This species attacked plant genera such as: Amaranthus, Beta, Bryonia, Chenopodium, Cucumis, Datura, Gypsophila, Lycopersicon, Nicandra, Nicotiana, Physalis, Petunia, Sisymbrium, Solanum, Spinacia and Viola. The same plant genera also potentially provide sites for the survival of economically important species, Liriomyza huidobrensis and Liriomyza trifolii, in Lithuania. [source] | ||||||||||||||||