bluuebunny/crossref_metadata_2025_split huggingface dataset:
Information Asymmetries and Product-Quality Regulation
Authors: Ireland Norman 
Published: November 2023

Abstract
In this chapter our concern will be for the consumer buying goods and services in the private sector. The focus will be on the case where the consumer has to complete the transaction (or at least contract to coplete the transaction) before finding out the exact quality of what he is buying. Such goods or services are usually referred to as experience goods, and the typical case of interest is when the seller knows the true quality of the product while the buyer only observes this after purchase. Thus the seller has more information than the buyer at the moment of contract: there is asymmetric information. The extent of asymmetric information varies across markets. At one extreme the market for, say, sugar has reasonably full information: the product is fairly homogeneous (although even here in a highly monopolized market there are a number of different brands and varieties, for example, of brown sugar), and is bought regularly. At the other extreme there are markets for second-hand cars, package holidays, financial services, and home improvements. In these latter cases each transaction is of a product which can be of a very different quality from others which are available at the same time. They are essentially ‘one-off’ transactions. Also the consumer may have little experience to guide him in assessing the quality offered. In the large middle ground between these extremes, are all the products available in your local shops, which can be examined, but not usually used, prior to purchase. We will find it helpful to distinguish between ‘repeated-market’ products and ‘one-off’ products. In the former the seller needs to sell the product regularly to the same or different consumers. Institutions such as the Consumers’ Association, via its publications, will increase buyers’ information, and reputations will be developed. In a pure ‘one-off’ sale no dynamic effects are involved.
The Development of Telecommunications Policy in the UK, 1981–1991
Authors: Beesley Michael , Laidlaw Bruce 
Published: November 2023

Abstract
In this paper, we seek to show how the telecommunications market in the United Kingdom has been progressively opened over the ten years from 1981. By analysing the development of the regulatory framework over a decade we hope, first, to show that further substantial modification is still required and, more important, to indicate what kind of reforms are needed. During this period, a principal aim of the government’s policy has been to promote effective competition in the provision of telecommunication services. We focus on competition in voice telephony, which accounts for over 80 per cent of the market, measured by revenues.
British Rail: Competition on the Network
Authors: Starkie David 
Published: November 2023

Abstract
During the early part of the 1980s a number of the non-core assets of British Rail (BR) were sold to the private sector. There were proposals, too, to dispose of specific railway lines such as that between Fenchurch Street and Southend in south Essex. However, it is arguable whether the simple transfer of assets to the private sector serves the objective most strongly canvassed by those promoting privatization. This objective is increased efficiency in the supply of services.
Privatization in the UK: Internal Organization and Productive Efficiency
Authors: Bishop Matthew , Thompson David 
Published: November 2023

Abstract
Over the last decade the programme of privatization in the UK has changed both the shape and the nature of the public-enterprise sector. Whilst the motivations and objectives of these policies have been both multiple and shifting over time, a central concern has related to the efficiency of public enterprises. Outlining his objectives for the (then) new policy, Treasury Minister John Moore said in 1983 that ‘our main objective is to promote competition and improve efficiency’.
Shareholder Wealth Effects of UK Take-overs: Implications for Merger Policy
Authors: Franks* Julian , Harris† Robert 
Published: November 2023

Abstract
This chapter has three objectives. First, it discusses concerns about the aggregate level of merger activity, and how institutional changes might provide more effective alternatives to take-overs as a way of remedying managerial failure. Second, it estimates the costs to shareholders arising from referrals of proposed mergers to the Monopolies and Mergers Commission, hereafter referred to as the Commission. Third, it offers an overview of UK merger activity and the role of the Commission in takeovers. In the empirical section, a sample of mergers from the period 1965-85 is examined in order to answer three questions. First, what costs do shareholders bear when a bid is referred to the Commission and is subsequently permitted to proceed? Second, does the rejection of a merger by the Commission involve the loss of a bid premium which shareholders would have realized in a successful merger? Third, do bids which fail because of management and shareholder discretion perform better or worse than bids which fail as a result of rejection by the Commission?
European Capital Markets and Corporate Control
Authors: Franks* Julian , Mayer† Colin 
Published: November 2023

Abstract
This chapter is about capital markets and corporate control. It is concerned with the way in which capital markets _exert control over the management and operations of firms. Corporate control is generally associated with take-overs. In the UK and the US take-overs are regarded as a central function of stock markets. The take-over process acts as a discipline on firms allowing control to be transferred from inefficient to efficient management and encouraging a convergence of interests between management and shareholders. Elsewhere in Europe, less emphasis is placed on the role of take-overs in changing corporate control. Stock markets are often much smaller and their role is not perceived as being one of disciplining management. Instead, banks, families, and sometimes the State have controlling shareholdings that impede the take-over process. There are therefore different methods of changing corporate control in Europe.
Free Trade in Companies: Does Nationality Matter?
Authors: Hannah* Leslie 
Published: November 2023

Abstract
It is government policy to welcome . . . investment and in normal cases the nationality of the new owners (foreign or British) is immaterial. However there could be exceptional cases where foreign ownership might affect the public interest-for example in relation to a sector of strategic importance or in cases where the nationality of the owner might affect export prospects. Office of Fair Trading, Mergers: A Guide to Procedures under the Fair Trading Act 1973. Only this much is certain, all ... nations have a character, and that character, when once taken, is, I do not say unchangeable ... but the least changeable thing in this ever varying and changeful world.
A Capital-Asset Pricing Model with Time-varying Covariances
Authors: Bollerslev Tim , Engle Robert F , Wooldridge Jeffrey M 
Published: November 2023

Abstract
The capital-asset pricing model provides a theoretical structure for the pricing of assets with uncertain returns. The premium to induce risk averse investors to bear risk is proportional to the nondiversifiable risk, which is measured by the covariance of the asset return with the market portfolio return. In this paper a multivariate generalized autoregressive conditional heteroscedastic process is estimated for returns to bills, bonds, and stocks where the expected return is proportional to the conditional covariance of each return with that of a fully diversified or market portfolio. It is found that the conditional covariances are quite variable over time and are a significant determinant of the time-varying risk premia. The implied betas are also time-varying and forecastable. However, there is evidence that other variables including innovations in consumption should also be considered in the investor’s information set when estimating the conditional distribution of returns.
Computers, ‘Bugs’, and the Sociology of Mathematical Proof
Authors: Mackenzie Donald 
Published: November 2023

Abstract
By getting ”inside technology“, social science can greatly improve understanding about the social shaping of both technical artefacts and of technical knowledge. This helps to raise policy issues that merit more public attention, like the validation of safety-critical systems whose failure could endanger lives. The development of such a ”sociology of technical knowledge“ can draw on work in the sociology of scientific knowledge dating back to the early 1970s. Until then, sociologists had largely been concerned with the analysis of political, religious, and philosophical belief systems.
Revolution in the Office? Implications for Women’s Paid Work
Authors: Webster Juliet 
Published: November 2023

Abstract
The growing use of large mainframe data processing systems in the 1950s and 1960s started public debates about the expected impact of computer-based technologies on levels of employment and patterns of work organization. Many of the themes of these early ‘automation debates’ have subsequently recurred. One side of the debate stresses the technology’s potential to eliminate the repetitious tasks characteristic of many jobs, thereby freeing people to develop new skills and abilities. The other side highlights fears that computers could cause mass unemployment and an increasing intensification of work and enslavement to machines for those remaining in jobs.
The Cultural Dimension of Communication Technology and Policy: The Experience of Satellite Television in Europe
Authors: Collins Richard 
Published: November 2023

Abstract
Satellite broadcasting is an important element in international information and communication infrastructures, which also encompass many other new media services and ICT networks like the Internet. Satellite technology is particularly significant because it lowers the costs of distributing television signals over a wide geographical area, which facilitates the transnationalization of television. It also makes available radio frequencies that were previously unusable for broadcasting over more conventional terrestrial systems.
Telecommunication Infrastructures and Regional Development
Authors: Gillespie Andrew , Cornford James 
Published: November 2023

Abstract
During the 1980s, after long and heated debates, the USA, the UK, Japan, and New Zealand opened their long-distance trunk telephone markets to various forms of competition which reduced the monopoly power of their public telephone operators (PTOs). By the mid-1990s, virtually all OECD countries had introduced competitive markets for customer premises equipment (CPE), such as telephones and automatic exchanges. A growing number had also permitted competition for network equipment, mobile communications, and packet-switched data services. However, most OECD countries still retained their PTO monopolies on the infrastructure facilities for providing basic services over the public switched telephone network (PSTN).
Telecommunication Infrastructure Competition: The Costs of Delay
Authors: Baer Walter S 
Published: November 2023

Abstract
During the 1980s, after long and heated debates, the USA, the UK, Japan, and New Zealand opened their long-distance trunk telephone markets to various forms of competition which reduced the monopoly power of their public telephone operators (PTOs). By the mid-1990s, virtually all OECD countries had introduced competitive markets for customer premises equipment (CPE), such as telephones and automatic exchanges. A growing number had also permitted competition for network equipment, mobile communications, and packet-switched data services. However, most OECD countries still retained their PTO monopolies on the infrastructure facilities for providing basic services over the public switched telephone network (PSTN).
Innovation in Telecommunication Regulation: Realizing National Policy Goals in a Global Marketplace
Authors: Mansell Robin 
Published: November 2023

Abstract
Some people are beguiled by the myth that digital information processing technologies are impelling communication networks towards a future in which competition flourishes to the benefit of all users. However, the problems of transforming technical innovations into commercially viable services are complicated by the fact that there is generally an uneven distribution of the benefits. As markets are imperfect, there is a need for public policy intervention to complement the pressure to increase competition in infrastructure and services. This is necessary to handle the mix of voice, data, and video capabilities, which many refer to as ‘telematics’, that has been a dominant force since the 1980s.
An Introduction To The Economics Of Information
Authors: Macho-Stadler Ines , Perez-Castrillo J David , Watt Richard 
Published: November 2023

Abstract
This is a graduate textbook on the theory of contracting under asymmetric information, a key part of modern microeconomic theory. It examines the characteristics of optimal contracts when one party has certain relevant knowledge that the other party does not. The various problems are presented in the same framework to allow easy comparison of the different results. The authors indicate substantial real-world applications, and exercises for students (with solutions) are provided at the end of each chapter.
Different Perspectives
Authors: Child John , Faulkner David 
Published: November 2023

Abstract
One looks in vain for a unified theory or approach to provide the basis for understanding cooperative strategy. Useful, but partial, insights can be drawn from economics, game theory, strategic-management theory, and organization theory. As Parkhe (1993a: 229) has remarked, ‘An overarching theme is required to cohesively pull together the theoretical advances into a unified theory addressing the nature of the [cooperative] ... relationship.’ Although that unified theory is not yet available, it is possible to offer a systematic overview of the main perspectives which contribute to our understanding of the subject and to draw some comparisons between them.
Trust
Authors: Child John , Faulkner David 
Published: November 2023

Abstract
Cooperation between organizations creates mutual dependence between them and requires trust to succeed. Although there are many definitions of trust, they tend to agree that it refers to the willingness of one party to relate with another in the belief that the other’s actions will be beneficial rather than detrimental to the first party, even though this cannot be guaranteed (cf. Gambetta 1988; McAllister 1995; Kramer and Tyler 1996; Lane and Bachmann 1998). In the world of business cooperation, this means having sufficient confidence in a partner to commit valuable know-how or other resources to transactions with it despite the fact that, in so doing, there is a risk the partner will take advantage of this commitment.
General Management
Authors: Child John , Faulkner David 
Published: November 2023

Abstract
Despite the increasing popularity of strategic alliances as an inter-organizational form, developed in large measure to meet the needs of globalizing markets and technologies, the record of running successful alliances is somewhat mixed. The dissolution rate for joint ventures is reported to be about 50 per cent, which is almost as high as that for mergers and acquisitions in new industries (Park and Ungson 1997). Porter (1987) found that no more than half the alliances he identified were successful by any reasonable criteria. Management consultants Coopers & Lybrand, and McKinsey, in separate studies came to similar conclusions (Bleeke and Ernst 1993).
Information Systems Development
Authors: Avison David E , Fitzgerald Guy 
Published: November 2023

Abstract
In this chapter we examine information systems development. We dis cuss information systems development in the period from the early 1970s when there was no formal methodology to develop information systems. We look at the motivation to develop a formal approach to system development, known as the system development life cycle, which is described below. This ‘waterfall model’ consists of phases, procedures, rules, techniques, documentation, and so on. This particular approach had a number of weaknesses and these were addressed in the many approaches and methodologies that were specified and practised in the 1980s.
The Management of Research and Development
Authors: Dodgson Mark 
Published: November 2023

Abstract
Business invests heavily in research and development (R & D). In 1997 the business sector spent over $350 billion on R & D in the OECD nations, accounting for over 69 per cent of all expenditure on R & D in these countries (OECD 1999). Some companies are huge spenders on R & D. General Motors (GM) invested over $7 billion annually in the late 1990s. Fewer than ten countries around the world spend more. Around 60 per cent of total corporate R & D in the United States now occurs in the information technology/electronics and drugs/medicine industries. Companies in these industries commonly spend over 10 per cent of their annual sales on R & D, which may constitute a significant proportion of a company’s activities. For example, one in four employees of Nokia works in R & D.
The Management of Operations and Production
Authors: Dodgson Mark 
Published: November 2023

Abstract
Operations can broadly be defined to include all activities related to transforming inputs into final outputs (Porter 1985). The process by which the transformation occurs has to be managed so as to add value by making something useful. Operations include issues such as inventory and workflow control, quality management processes, and supply chain management. Operations are, therefore, important to a wide range of companies, both ‘services’ and ‘manufacturing’ (bearing in mind the distinction between these two are increasingly indistinct).
The Commercialization Process
Authors: Dodgson Mark 
Published: November 2023

Abstract
The ultimate aim of MTI is to improve the competitiveness of firms. This involves the variety of ways that all investments in MTI —in R & D, new product development (NPD), operations and production, technology strategy, and technological collaborations —are commercialized by successfully producing income streams. When firms are successful at commercializing technology, as we saw in Chapter 1, not only does this lead to competitive advantages, but the technology can become the defining aspect of the firm and its future development. The key aspects of the commercialization process discussed here include marketing technology products, intellectual property rights and know-how, licensing, technical standards, and some issues of technology transfer.
Five Future Challenges for the Management of Technological Innovation
Authors: Dodgson Mark 
Published: November 2023

Abstract
We have seen that MTI is a complex and risky aspect of contemporary business, and how it is absolutely necessary for firms to master it if they are to compete successfully now and in the future. Various tools and techniques for the successful management of MTI have been suggested, but, as the management of MTI is an essentially idiosyncratic process, there are no simple recipes for success. The five composite case studies in Chapter 1 showed the wide variety in firms’ markets, technologies, and competencies, and that the way they manage their technological innovation is directed by the different challenges they face and the overall strategies they pursue.
Resources and Strategy: A Brief Overview of Themes and Contributions
Authors: Foss Nicolai J 
Published: November 2023

Abstract
During the last five years, strategy-both as an aspect of business practice and as a field of inquiry-seems to have been regaining some of the reputation and influence that was lost by the end of the 1970s and the beginning of the 1980s. There are many reasons for this situation. One is that the strategy field has become academically more respectable: there is a growing feeling that practical strategic advice can be based on sound deduction and systematic observation. At the same time, research in, and the teaching of, strategy has become increasingly professionalized. Taken as a whole, the field has become, if not coherent and homogeneous, then certainly less fragmented than it was, for example, fifteen years ago.
The Theory of the Growth of the Firm
Authors: Penrose Edith T 
Published: November 2023

Abstract
So far as I know, no economist has as yet attempted a general theory of the growth of firms. This seems to me so very strange that I am sure anyone attempting it should indeed watch his (or her) step, for naturally there is always a good reason for what economists do or do not do. Perhaps such a theory is impossible to construct, unnecessary, trivial, or outside the pale of economics proper. I do not know, but I offer this study in the hope that all four possibilities will be rejected.
Strategy and Structure
Authors: Chandler Alfred D 
Published: November 2023

Abstract
This investigation into the changing strategy and structure of the large industrial enterprise in the United States began as an experiment in the writing of comparative business history. The initial thought was that an examination of the way different enterprises carried out the same activity-whether that activity was manufacturing, marketing, procurement of supplies, finance, or administration-would have as much value as a study of how a single firm carried on all these activities. Such a comparative analysis could permit deeper probes into the nature of the function studied, and so provide more accurate interpretations and more meaningful evaluations of the performance of several different enterprises in that activity than could a whole series of histories of individual firms. It could thus indicate more clearly the ways in which American businessmen have handled that activity over the years.
The Organisation of Industry
Authors: Richardson George B 
Published: November 2023

Abstract
I was once in the habit of telling pupils that firms might be envisaged as islands of planned co-ordination in a sea of market relations. This now seems to me a highly misleading account of the way in which industry is in fact organised. The underlying idea, of course, was of the existence of two ways in which economic activity could be co-ordinated, the one, conscious planning, holding sway within firms, the other, the price mechanism, operating spontaneously on the relations between firms and between firms and their customers. The theory of the firm, I argued, had as its central core an elaboration of the logic of this conscious planning; the theory of markets analysed the working of the price mechanism under a variety of alternative structural arrangements.
The Resource-Based View Within the Conversation of Strategic Management
Authors: Mahoney Joseph T , Pandian J Rajendran 
Published: November 2023

Abstract
McCloskey (1985) persuasively argues that ‘good science is good conversation.’ The resource-based view is good management science, properly speaking, because it stimulates good conversation within the strategic management field. The resource-based approach (Penrose, 1959; Wemetfelt, 1984) is attracting the attention of a growing number of researchers precisely because the framework encourages a dialogue between scholars from a variety of perspectives. The purpose of this paper is to coalesce and sustain this conversation.