Automation, rationalisation and concentration : a case study in the British chemical industry

This thesis is based upon a case study of the adoption of digital, electronic, microprocessor-based control systems by Albright & Wilson Limited - a UK chemical producer. It offers an explanation of the company's changing technology policy between 1978 and 1981, by examining its past development, internal features and industrial environment. Part One of the thesis gives an industry-level analysis which relates the development of process control technology to changes in the economic requirements of production . The rapid diffusion of microcomputers and other microelectronic equipment in the chemical industry is found to be a response to general need to raise the efficiency of all processes, imposed by the economic recession following 1973. Part Two examines the impaot of these technical and eoonomic ohanges upon Albright & Wilson Limited. The company's slowness in adopting new control technology is explained by its long history in which trends are identified whlich produced theconservatism of the 1970s. By contrast, a study of Tenneco Incorporated, a much more successful adoptor of automating technology, is offered with an analysis of the new technology policy of adoption of such equipment which it imposed upon Albright & Wilson, following the latter's takeover by Tenneco in 1978. Some indications of the consequences by this new policy of widespread adoptions of microprocessor-based control equipment are derived from a study of the first Albright & Wilson plant to use such equipment. The thesis concludes that companies which fail to adopt rapidly the new control technology may not survive in the recessionary environment, the long- established British companies may lack the flexibility to make such necessary changes and that multi-national companies may have an important role jn the planned transfer and adoption of new production technology through their subsidiaries in the UK.

Az árak észlelése és értékelése(Perception and Evaluation of Prices)

A 2008-ban kezdődött gazdasági válság a korábbiaknál is fontosabbá tette az árakat a vásárlók számára. Azt eddig is mindenki tudta, hogy az árak alapvetően befolyásolják a fogyasztók vásárlási döntését. Arra a kérdésre azonban, hogy miképpen, már nem mindig tudunk pontos választ adni. A közgazdaságtan szerint az árak csökkenése növeli a fogyasztók vásárlási hajlandóságát és fordítva, az árak emelkedése kisebbíti azt. A valóság azonban nem mindig írható le közgazdaságtani fogalmakkal vagy matematikai képletekkel. _______ Since the beginning of the global economic recession prices have become more and more important for sellers and buyers. To study the role of prices in consumer behaviour is a rather new field of marketing research. The paper starts out from the fact that prices can be regarded as a multidimensional stimulus, which influences the purchasing decision of consumers. The study describes the process how, in this multidimensional pricing environment, consumers get from the perception through the evaluation of prices to the purchasing decision. According to the model constructed by the author the perception of prices depends on the presentation of prices and on the willingness and ability of people to numerically perceive and evaluate the different presentations of prices. In the process how consumers get from the perceived prices through the excepted prices to the purchasing decision the perceived value plays the most important role. The perceived value is motivated by the internal and external reference prices and the perceived reference value. The paper comes to the conclusion that in recession and post recession times, companies are compelled to understand these processes better to be able to set their price points according to the changing buyers behaviour.

Maintaining your loyal customers during hard times: An observation from the gaming industry

The Las Vegas gaming arena was one of the most severely affected consumeroriented industries to be impacted by the recent economic recession. The purpose of this study was to investigate the impact of relational benefits on customers’ behavioral loyalty in the Las Vegas gaming industry. This study particularly took a comparative approach and examined the relational impact during the economic recession and after the economic recession. Secondary data was obtained and regression analysis was performed to test the study hypothesis. The findings of this study revealed the economic recession impact on the Las Vegas gaming industry, as well as valuable insights for effective utilization of relational benefits to increase customer loyalty.

Hotel Managers Identify Ethical Problems: A Survey of their Concerns

This study identified and examined the concerns of hotel general managers regarding ethics in the hospitality industry. Thirty-five managers were interviewed during and immediately following the economic recession to determine which ethical issues in the hotel industry and at their own properties concerned them the most. Results showed that more people and organizations attempted to renegotiate hotel rates, which actions, in turn, led to some lapses in ethical behavior. Managers said that because of the economic downturn, they felt pressure from both private owners and corporate headquarters. They also said a lack of work ethic, low motivation, and low pay caused many workers to underperform in ways that raised ethical issues. Managers also mentioned diversity issues and theft by both guests and employees as ethical issues of concern, and shared stories about their experiences.

A Preliminary Evaluation of the Millennial Shopping Experience: Preferences and Plateaus

This study identified and examined the concerns of hotel general managers regarding ethics in the hospitality industry. Thirty-five managers were interviewed during and immediately following the economic recession to determine which ethical issues in the hotel industry and at their own properties concerned them the most. Results showed that more people and organizations attempted to renegotiate hotel rates, which actions, in turn, led to some lapses in ethical behavior. Managers said that because of the economic downturn, they felt pressure from both private owners and corporate headquarters. They also said a lack of work ethic, low motivation, and low pay caused many workers to underperform in ways that raised ethical issues. Managers also mentioned diversity issues and theft by both guests and employees as ethical issues of concern, and shared stories about their experiences.

Impact of the Financial Crisis on the Performance of European Acquisitions

This study looks at the impact of the recent financial crisis on the short-term performance of European acquisitions. We use institutional theory and transaction cost economic theory to study whether bidders derive lower or higher returns from acquisitions announced after 2008. We investigate shareholders’ stock price reaction to 2245 deals which occurred during 2004–12 across 22 European Union countries. Our results from both univariate and multivariate analysis show that the deals announced in the post-crisis period, corresponding to the period of economic recession, generate higher returns to shareholders as compared to acquisitions announced in the pre-crisis period. We also test the relevance of the Economic and Monetary Union (EMU), that is, the Eurozone, to this value accrual during the recessionary period. We observe that non-EMU transactions obtain significantly higher gains vis-à-vis EMU transactions in the post-crisis years. Overall, announcement returns of European acquisitions have been affected by the financial crisis and the global recession; and companies that target countries with different currency regimes are likely to generate better returns from their acquisitions.

The Worsening of the employment and work conditions and its relationship to the self-perceived health in European working population. Relevance and effects of the latest socioeconomic crisis

The recent crisis of the capitalistic economic system has altered the working conditions and occupations in the European Union. The recession situation has accelerated trends and has brought transformations that have been observed before. Changes have not looked the same way in all the countries of the Union. The social occupation norms, labour relations models and the type of global welfare provision can help underline some of these inequalities. Poor working conditions can expose workers to situations of great risk. This is one of the basic assumptions of the theoretical models and analytical studies of the approach to the psychosocial work environment. Changes in working conditions of the population seems to be important to explain in the worst health states. To observe these features in the current period of economic recession it has made a comparative study of trend through the possibilities of the European Working Conditions Survey in the 2005 and 2010 editions. It has also set different multivariate logistic regression models to explore potential partnerships with the worst conditions of employment and work. It seems that the economic crisis has intensified changes in working conditions and highlighted the effects of those conditions on the poor health of the working population. This conclusion can’t be extended for all EU countries; some differences were observed in terms of global welfare models.

La ética hacker frente al capitalismo netárquíco: software libre y peer production en las iniciativas de Economía Colaborativa en Andalucía

En los últimos años el término Economía Colaborativa se ha popularizado sin que, hasta el momento, haya sido definido de manera inequívoca. Bajo esta denominación se engloban experiencias tan diversas como bancos de tiempo, huertos urbanos, startups o grandes plataformas digitales. La proliferación de este tipo de iniciativas puede relacionarse con una multiplicidad de factores tales como el desarrollo tecnológico, la recesión económica y otras crisis superpuestas (medioambiental, de cuidados, de valores, de lo político) y un cierto cambio en los valores sociales. Entre 2014-2015 se han realizado dos investigaciones en Andalucía de manera casi paralela y con una metodología similar. La primera de ellas pretendía identificar prácticas de Economía Colaborativa en el entorno universitario. La segunda investigación identificaba experiencias de emprendimiento a nivel autonómico. A luz de los resultados obtenidos se plantea la siguiente cuestión sobre la naturaleza misma de la Economía Colaborativa: ¿nos encontramos ante prácticas postcapitalistas que abren el camino a una sociedad más justa e igualitaria o, más bien, estamos ante una respuesta del capital para, una vez más, seguir extrayendo de manera privada el valor que se genera socialmente? Este artículo, partiendo del análisis del conjunto de iniciativas detentadas en Andalucía, se centra en aquellas basadas en el software libre y la producción digital concluyendo cómo, gracias a la incorporación de ciertos aspectos de la ética hacker y las lógicas del conocimiento abierto, éstas pueden situarse dentro de un escenario de fomento de los comunes globales frente a las lógicas imperantes del capitalismo netárquico. 

Using importance-satisfaction analysis in evaluating student satisfaction: a case study of economics and administration Faculty of Qafqaz University

Education is one of the main industries in the world, which needs to focus more than other types of industries. As Mandela said, “Education is the most powerful weapon, which you can use to change the world” (www.brainyquote.com). Global economic recession era put serious pressure on private Higher Education Institutions (HEI), which resulted as decrease in the university spending`s budget. Therefore, HEI forced to develop more competitive ways to find new financial resources for rapid technological and organizational changes (Savsar, 2012). Students are the motive of being of Higher Education. The aim of this study is to implement İmportance-Satisfaction Analysis (IPA) matrix to evaluate the student`s satisfaction and assess importance of different attributes in terms of student`s perception. The students that participated in this study enrolled in the present academic year, 2015/2016, in the Economics and Administration Faculty-Qafqaz University. In order to perform study, survey method applied to collect the data and number of received valid questionnaire were 266. Questionnaire used to collect demographic information of students, identify importance given to each attribute and satisfaction degree of each attribute. Descriptive analysis used to identify profile of respondents, also find satisfaction and importance degree for each attributes. To evaluate differences between groups, built association between variables, find relation between variables and answering to the research hypothesis inferential analysis applied. Moreover, IPA matrix was been used to explore the attributes that needs improvement that perceived as attributes that are more important for the students. The result showed that generally students are satisfied with service quality offered by HEI-on sample of the Qafqaz University. In addition, research found that there are no differences in overall satisfaction and importance by department, gender, academic year and grade point average. IPA matrix highlighted the main attributes, which performs well, namely Academic Services and Teaching aspects, and in another hand needs to concentrate in Undergraduate program and External Relations. In addition, research found that loyalty of students is very low and there is a negative correlation between loyalty and satisfaction.

Determinantes financeiros da estrutura de capital das PME industriais portuguesas ao longo dos ciclos económicos

Dissertação de Mestrado em Gestão Empresarial. Faculdade de Economia, Univ. do Algarve, 2004

The fiscal consequences of deflation : evidence from the golden age of globalization

We study the fiscal consequences of deflation on a panel of 17 economies in the first wave of globalization, between 1870 and 1914. By means of impulse response analyses and panel regressions, we find that a 1 percent fall in the price level leads to an increase in the public debt ratio of about 0.23- 0.32 pp. and accounting for trade openness, monetary policy and the exchange rate raises the absolute value of the coefficient on deflation. Moreover, the public debt ratio increases when deflation is also associated with a period of economic recession. For government revenue, lagged deflation comes out with a statistically significant negative coefficient, while government primary expenditure seems relatively invariant to changes in prices.

Trust and Leadership in Higher Education in the Downturn

This Leadership Academy Workshop presentation focused on 'Trust and Leadership in the Downturn', with particular reference to the public sector and to education. The presentation discussed a range of definitions of trust, including the view of Mayer, Davis and Schoorman (1995) that trust can be described as 'the willingness of a person to be vulnerable to the actions of another, based on the expectation that the other will perform a particular action important to the trustor, irrespective of the ability to monitor or control that action'. The presentation then focused on the reasons why this relational psychological state is important,particularly in an economic recession when people were facing job cuts and economic uncertainty in a wider political and social environment characterised by cynicism and a downturn in trust. If trust is defined in part as a belief in the honesty, competence and benevolence of others, it tends to act like 'social glue', cushioning difficult situations and enabling actions to take place easily that otherwise would not be permissible. A worrying state of affairs has recently been developing across the world, however, in the economic downturn, as reported in the Edelman Trust Barometer for 2009, in which there was a marked diminuition of trust in corporations, businesses and government, as a result of the credit crunch. While the US and parts of Europe was showing recovery from a generalised loss of trust by mid-year 2009, the UK had not. It seems that social attitudes in Britain may be hardening - it seems that from being a nation of sceptics we may be becoming a nation of cynics: for example, 69% of the population surveyed by Edelman trust the government less than six months ago. In this situation, there is a need to promote positive measures to build trust, including the establishment of more transparent and honest business practices and practices to ensure that employees are treated well. Following the presentation, a workshop was held to discuss the nature of a possible loss of trust in the downturn in the UK and its implications for leadership practices and development.

Parental unemployment and youth life satisfaction: The moderating roles of satisfaction with family life

Abstract While Europe is slowly recovering from the economic recession, its effects on labour markets are still visible. The number of jobless families has increased and previous research has shown that unemployment can affect the wellbeing of both parents and their children. In this study we explored the links between parental unemployment and youth life satisfaction by considering the potential moderating roles played by satisfaction with family life and perceived family wealth. We used descriptive statistics, correlations, simple moderation and moderated moderation models of regression on data from a representative sample of 3937 Portuguese students (Mage = 13.9 years; SD ± 1.7; 48 % boys). Results showed that the negative effects of parental unemployment on youth life satisfaction were moderated by youth perceived satisfaction with family life but not by perceived wealth. This suggested that during family unemployment, young people satisfied with their family life are less vulnerable to the negative effects of parental unemployment on their life satisfaction. The relationship between parental unemployment and youth well-being requires further research, especially during periods of labour market crisis.

The Great Recession and the changing distribution of economic vulnerability by social class:The Irish case

Ireland provides an interesting case study of the distributional consequences of the Great Recession. To explore such effects we develop a measure of economic vulnerability based on a multidimensional risk profile for income poverty, material deprivation and economic stress. In the context of conflicting expectations of trends in social class differentials, we provide a comparison of pre and post-recession periods. Our analysis reveals a doubling of levels of economic vulnerability and a significant change in multidimensional profiles. Income poverty became less closely associated with material deprivation and economic stress and the degree of polarization between vulnerable and non-vulnerable classes was significantly reduced. Economic vulnerability is highly stratified by social class for both pre and post-recession periods. Focusing on absolute change, the main contrast is between the salariat and the non-agricultural self-employed and the remaining classes; providing some support for notions of polarization. In terms of relative change the higher salariat, the non-agricultural self-employed, the semi-unskilled manual and those who never worked gained relative to the remaining classes. This provides support the notion of ‘middle class squeeze’. The changing relationship between social class and household work intensity reflected a similar pattern. The impact of the latter on economic vulnerability declined sharply, while it came to play an increasing role in mediating the impact of membership of the non-agricultural middle classes. Responding to the political pressures likely to be associated with ‘middle class squeeze’ while sustaining the social welfare arrangements that have traditionally protected the economically vulnerable presents formidable challenges in terms of maintaining social cohesion and political legitimacy.