An empirical investigation of price competition and industry specialisation in NHS audit services

The NHS audit market is regulated by the Audit Commission (AC) and has unique features. We develop a model for audit fees that includes rigorous analysis of the type of auditor. Poor financial standing does not give rise to higher audit fees. Despite regulation the study supports the existence of a Big Five price premium on the audit fee, but only one firm has a premium. We found no premium due to industry specialisation. The removal of performance audit from AC regulation will require improved audit fee reporting and control.

Purchase decision-making in fair trade and the ethical 'gap':'is there a fair trade twix?'

Children are increasingly being recognised as a significant force in the retail market place, as primary consumers, influencers of others, and as future customers. This paper adds to the literature on children as consumers by exploring their attitudinal responses to a specific group of products: Fair Trade lines. There has been no research to date that has specifically addressed children as consumers of Fair Trade or the ethical purchase decision-making process in this area. The methodological approach taken here is an essentially interpretive and naturalistic analysis of two focus groups of school children. The analysis found that there is an urgent need to develop meaningful Fair Trade brands that combine strong brand knowledge and positive brand images to bridge the ethical purchase gap between the formation of clear ethical attitudes and actual ethical purchase behaviour. Such an approach would both capture more of the children’s primary market and influence future purchase behaviour. It is argued that Fair Trade actors should coordinate new marketing communications campaigns that build brand knowledge structures holistically around the Fair Trade process and that extend beyond merely raising consumer awareness.

FDI, trade and growth, a causal link?

. FDI, Trade and Growth, a Causal Link? (RP0710) Prof Nigel DRIFFIELD Dr Rakesh BISSOONDEEAL Mayang Pramadhani Non-technical Summary This paper explores the relationship between imports, exports, foreign direct investment and growth. For some time there has been a good deal of debate whether trade and foreign direct investment) FDI are substitutes and complements, with the existing literature generating some rather contradictory findings. We show, for Indonesia that inward FDI and both imports and exports are complementary, and further that FDI causes an increase in trade. This is of particular interest for a country such as Indonesia, that has attracted a high proportion of export-orientated inward investment. This, theoretically at least is associated with an increase in imports, in the form of capital goods and components, but a reduction in imports. We show that the previous literature that fails to find such a relationship does so because both trade and FDI are associated with growth, and previous work ignores these growth effects when seeking to isolate the relationship between trade and FDI.

Technology flows, outsourcing and productivity:an analysis of UK trade and FDI

By engaging in trade and foreign direct investment (FDI) with foreign partners, a country can access the R&D and related knowledge stocks of other countries (by accident or by design) and so benefit from those stocks of knowledge at a cost lower than that which would be incurred by developing the knowledge internally. This should lead to beneficial ‘spillover’ effects on the productivity of domestic firms. However, the literature on technology spillovers from trade and FDI is ambiguous in its findings. This may in part be because of the assumption in much of the work that trade and FDI flows are homogeneous in their determinants and thus in their effects. We develop a taxonomy of trade and FDI determinants based on R&D intensity and unit labour cost differentials, and test for the presence of spillovers from inward investment and imports on an extensive sample of UK manufacturing plants. We find that both trade and FDI have measurable spillover effects, but the size of these effects varies depending on the technological and labour cost differentials between the UK and its trading partners. There is therefore an identifiable link between the determinants and effects of trade and FDI which the previous literature has not explored. We also find that absorptive capacity matters for spillovers from FDI, but not from trade. Overall, these findings suggest that the productivity effects of FDI are largely restricted to plants with high absorptive capacity, while the productivity effects of imports occur largely among higher-technology plants regardless of their absorptive capacity.

Environmental features which limit organization and industry viability:a study of the footwear industry

This thesis proposes a conceptual framework for the analysis of organizational environments. Three primary segments of the task environment - the transaction environment, the industrial environment and the ecotone are delineated. The interrelationships between the organization and these three environmental segments are examined. It is suggested that the task environment i) defines the nature of the task confronting the organization and the economic, political and social position of the organization within this network; ii) influences the way organizations and industries are organized; iii) prevents recognition of the need for adaptation and change; and iv) limits the alternatives available to the organization should changes in the environment render existing technology, behaviour and structures obsolete. The British Footwear Industry provides an example of how this framework might be used to investigate the problem of industry decline and organization viability. It is argued that the explanations usually put forth to explain organization failure and industrial decline have not taken into consideration the environmental factors which affect organization and industry viability. The shift from national markets to global markets has altered the composition of the task environment and has changed the nature of competition from firm versus firm to environment versus environment. Organizations do not compete in the market, their products do. These products are often produced by organizations embedded in environments which are significantly different from the one in which the focal organization and industry are embedded.

Influence of iron deprivation and sub-inhibitory concentrations of antifungal antibiotics on surface antigens of candida albicans yeast cells

This study examined the effect of iron deprivation and sub-inhibitory concentrations of antifungal agents on yeast cell surface antigen recognition by antibodies from patients with Candida infections. Separation of cell wall surface proteins by sodium dodecyl-polyacrylamide gel electrophoresis (SDS-PAGE) and immunological detection by immunoblotting, revealed that antigenic profiles of yeasts were profoundly influenced by the growth environment. Cells grown under iron-depleted conditions expressed several iron-regulated proteins that were recognized by antibodies from patient sera. An attempt to characterize these proteins by lectin blotting with concanavalin A revealed that some could be glycoprotein in nature. Furthermore, these proteins which were located within cell walls and on yeast surfaces, were barely or not expressed in yeasts cultivated under iron-sufficient conditions. The magnitude and heterogeneity of human antibody responses to these iron-regulated proteins were dependent on the type of Candida infection, serum antibody class and yeast strain. Hydroxamate-type siderophores were also detected in supernatants of iron depleted yeast cultures. This evidence suggests that Candida albicans expresses iron-regulated proteins/glycoproteins in vitro which may play a role in siderophore-mediated iron uptake in Candida albicans. Sequential monitoring of IgG antibodies directed against yeast surface antigens during immunization of rabbits revealed that different antigens were recognized particularly during early and later stages of immunization in iron-depleted cells compared to iron-sufficient cells. In vitro and in vivo adherence studies demonstrated that growth phase, yeast strain and growth conditions affect adhesion mechanisms. In particular, growth under iron-depletion in the presence of sub-inhibitory concentrations of polyene and azole antifungals enhanced the hydrophobicity of C.albicans. Growth conditions also influenced MICs of antifungals, notably that of ketoconazole. Sub-inhibitory concentrations of amphotericin B and fluconazole had little effect on surface antigens, whereas nystatin induced profound changes in surface antigens of yeast cells. The effects of such drug concentrations on yeast cells coupled with host defence mechanisms may have a significant affect on the course of Candida infections.

The relationships between a developing regional airport and local commerce and industry

This thesis describes an investigation into a Local Authority's desire to use its airport to aid regional economic growth. Short studies on air freight. the impact of an airport on the local economy, incoming tourism. and the factors influencing airlines in their use of airports, show that this desire is valid. but only in so far as the airport enables air services to be provided. A survey of airlines. conducted to remedy some deficiencies in the documented knowledge on airline decision-making criteria. indicates that there is cause for concern about the methods used to develop air services. A comparison with the West German network suggests that Birmingham is underprovided with international scheduled flights, and reinforces the survey conclusion that an airport authority must become actively involved in the development of air services. Participation in the licence applications of two airlines to use Birmingham Airport confirms the need for involvement but without showing the extent of the influence which an airport authority may exert. The conclusion is reached that in order to fulfill its development potential, an airport must be marketed to both the general public and the air transport industry. There is also a need for a national air services plan.

Phosphorus bearing minerals in iron ores and their possible benefication

Modern electron optical techniques together with X-ray and mineralogical examination have been used to study the occurrence and form of phosphorus bearing minerals in iron ores. Three ores have been studied - Bahariya and Aswan from Egypt and Frodingham ironstone from U.K. The iron in the Bahariya iron ore is mainly as hematite and goethite. The gangue minerals are halite, gypsum, barytes, quartz and calcite. Iron content is between 49.8 to 63.2% and phosphorus 0.14 to 0.34%. The phosphorus occurs as very fine particles of apatite which are distributed throughout the ore. Removal of the phosphorus would require very fine grinding followed by acid leaching. Aswan iron ore is an oolitic iron ore; the iron content between 41-57% and phosphorus content 0.1 to 2.9%. It is mainly hematitic with variable quantities of quartz, apatite and small amount of clay minerals. In the oolitic iron ore beds, apatite occurs in the hematite matrix; filling in the pores of the oolithic surfaces, or as matrix cementing the ooliths with the hematite grains. In sandstone claybeds the distribution of the apatite is mainly in the matrix. It is suggested that the liberation size for the apatite would be -80 m and flotation concentration could be applied for the removal of apatite from Aswan ore. Frodingham ironstone occurs in the lower Jurassic bed of the South Humberside area. The average iron content is 25% and the phosphorus is 0.32%. Seven mineral phases were identified by X-ray; calcite, quartz, chamosite, hematite, siderite, apatite, and chlorite. Apatite occurs as very fine grains in the hematite and chamosite ooliths; as matrix of fine grains intergrown with chamosite and calcite grains; and as anhedral and sub rounded grains in the ooliths (8-28 m). It is suggested that two processes are possible for the dephosphorisation; the Flox process or a reduction roast followed by fine grinding, magnetic separation, and acid leaching.

The integration of knowledge within science, technology and industry : enzymes a case study

Enzyme technology is widely regarded as an exciting new technology possessing great opportunities for commercial interests and is one of a small group of key technologies singled out by the Science Research Councils during the 1960's as worthy of special support. In this thesis I outline the basic characteristics of this technology analysing the nature of the Government's policy towards it. The approach I have chosen requires an in depth analysis of the innovation process for enzymes which forms the basis for a model. This model is then used to focus on aspects of the UK science policy towards innovation in enzyme technology, assessing its impacts, and appraising the usefulness of this approach for future policy initiatives.