Interlocking directorships

[Introduction] When a director of one company at the same time serves on the board of another company, the two companies are said to be interlocked by that director. Through this linkage each company has potential access to information about the activities of the other, either explicitly as intelligence transferred by the director or implicitly in shaping the director’s perspective and general views. Director interlocks formed by executive directors, employed by the firm, are generally interpreted as more instrumental for the firm than those formed by non-executive directors. Firms are often interlocked with more than one other firm and those firms, in turn, with others; a web of social relationships envelops business.

The determinants of business performance of estate agency in England and Wales

Purpose: This paper seeks to investigate the factors influencing the business performance of estate agency in England and Wales. Design/methodology/approach: The paper investigates the effect of housing market, company size and pricing policy on business performance in the estate agency sector in England and Wales. The analysis uses the survey data of Woolwich Cost of Moving Survey (a survey of transactions costs sponsored by the Woolwich/Barclays Bank) from 2003 to 2005 to test the hypothesis that the business performance of estate agency is affected by industry characteristics and firm factors. Findings: The empirical analysis indicates that the business performance of estate agency is subject to market environment volatility such as market uncertainty, housing market liquidity and house price changes. The firm factors such as firm size and the level of agency fee have no explanatory power in explaining business performance. The level of agency fee is positively associated with firm size, market environment and liquidity. Research limitations/implications: The research is limited to the data received and is based on a research project on transaction costs designed prior to this analysis. Originality/value: There is little other research that investigates the factors determining the business performance of estate agency, using consecutive data of three years across England and Wales. The findings are useful for practitioners and/or managers to allocate resources and adjust their business strategy to enhance business performance in the estate agency sector.

Extreme weather events and business continuity planning

There is now a broad scientific consensus that the global climate is changing in ways that are likely to have a profound impact on human society and the natural environment over the coming decades. The challenge for Facilities Mangers is to ensure that business continuity plans acknowledge the potential for such events and have contingencies in place to ensure that their organisation can recover from an extreme weather event in a timely fashion. This paper will review current literature/theories pertinent to extreme weather events and business continuity planning; will consider issues of risk; identify the key drivers that need to be considered by Facilities Managers in preparing contingency/disaster recover plans; and identify gaps in knowledge (understanding and toolkits) that need to be addressed. The paper will also briefly outline a 3 year research project underway in the UK to address the issues