Determinants of entry and exit in the foreign owned sector of UK manufacturing

This paper examines the extent to which foreign entry and exit in the UK is related to domestic industry characteristics. The units of analysis are firm numbers, and thus entry and exit at the industry level are treated as being generated by Poisson processes. This therefore uses quasimaximum likelihood estimation, to estimate entry and exit functions simultaneously. The results demonstrate that foreign entry is attracted by industry level profitability and performance, but that firm specific 'ownership' advantages are also important. The results also demonstrate that inward investors that are motivated by the desire to exploit firm-specific assets, are unlikely to be more transient than domestic firms. This however, cannot be said of those foreign entrants who are attracted to the UK by location advantage or investment incentives.

Non-aqueous silicone elastomer gels as a vaginal microbicide delivery system for the HIV-1 entry inhibitor maraviroc

Aqueous semi-solid polymeric gels, such as those based on hydroxyethylcellulose (HEC) and polyacrylic acid (e.g. Carbopol®), have a long history of use in vaginal drug delivery. However, despite their ubiquity, they often provide sub-optimal clinical performance, due to poor mucosal retention and limited solubility for poorly water-soluble actives. These issues are particularly pertinent for vaginal HIV microbicides, since many lead candidates are poorly water-soluble and where a major goal is the development of a coitally independent, once daily gel product. In this study, we report the use of a non-aqueous silicone elastomer gel for vaginal delivery of the HIV-1 entry inhibitor maraviroc. In vitro rheological, syringeability and retention studies demonstrated enhanced performance for silicone gels compared with a conventional aqueous HEC gel, while testing of the gels in the slug model confirmed a lack of mucosal irritancy. Pharmacokinetic studies following single dose vaginal administration of a maraviroc silicone gel in rhesus macaques showed higher and sustained MVC levels in vaginal fluid, vaginal tissue and plasma compared with a HEC gel containing the same maraviroc loading. The results demonstrate that non-aqueous silicone gels have potential as a formulation platform for coitally independent vaginal HIV microbicides.

Entry modes and performance of foreign direct investment in China

How does a firm choose a proper model of foreign direct investment (FDI) for entering a foreign market? Which mode of entry performs better? What are the performance implications of joint venture (JV) ownership structure? These important questions face a multinational enterprise (MNE) that decides to enter a foreign market. However, few studies have been conducted on such issues, and no consistent or conclusive findings are generated, especially with respect to China. It’s composed of five chapters, providing corresponding answers to the questions given above. Specifically, Chapter One is an overall introductory chapter. Chapter Two is about the choice of entry mode of FDI in China. Chapter Three examines the relationship between four main entry modes and performance. Chapter Four explores the performance implications of JV ownership structure. Chapter Five is an overall concluding chapter. These empirical studies are based on the most recent and richest data that has never been explored in previous studies. It contains information on 11,765 foreign-invested enterprises in China in seven manufacturing industries in 2000, 10,757 in 1999, and 10,666 in 1998. The four FDI entry modes examined include wholly-owned enterprises (WOEs), equity joint ventures (EJVs), contractual joint ventures (CJVs), and joint stock companies (JSCs). In Chapter Two, a multinominal logit model is established, and techniques of multiple linear regression analysis are employed in Chapter Three and Four. It was found that MNEs, under the conditions of a good investment environment, large capital commitment and small cultural distance, prefer the WOE strategy. If these conditions are not met, the EJV mode would be of greater use. The relative propensity to pursue the CJV mode increases with a good investment environment, small capital commitment, and small cultural distance. JSCs are not favoured by MNEs when the investment environment improves and when affiliates are located in the coastal areas. MNEs have been found to have a greater preference for an EJV as a mode of entry into the Chinese market in all industries. It is also found that in terms of return on assets (ROA) and asset turnover, WOEs perform the best, followed by EJVs, CJVs, and JSCs. Finally, minority-owned EJVs or JSCs are found to outperform their majority-owned counterparts in terms of ROA and asset turnover.

Exits, entrances and entrepreneurship : an exploration of economic theories of entrepreneurship through new independent entry and infant exit

The thesis began as a study of new firm formation. Preliminary research suggested that infant death rate was considered to be a closely related problem and the search was for a theory of new firm formation which would explain both. The thesis finds theories of exit and entry inadequate in this respect and focusses instead on theories of entrepreneurship, particularly those which concentrate on entrepreneurship as an agent of change. The role of information is found to be fundamental to economic change and an understanding of information generation and dissemination and the nature and direction of information flows is postulated to lead coterminously to an understanding of entrepreneurhsip and economic change. The economics of information is applied to theories of entrepreneurhsip and some testable hypotheses are derived. The testing relies on etablishing and measuring the information bases of the founders of new firms and then testing for certain hypothesised differences between the information bases of survivors and non-survivors. No theory of entrepreneurship is likely to be straightforwardly testable and many postulates have to be established to bring the theory to a testable stage. A questionnaire is used to gather information from a sample of firms taken from a new micro-data set established as part of the work of the thesis. Discriminant Analysis establishes the variables which best distinguish between survivors and non-survivors. The variables which emerge as important discriminators are consistent with the theory which the analysis is testing. While there are alternative interpretations of the important variables, collective consistency with the theory under test is established. The thesis concludes with an examination of the implications of the theory for policy towards stimulating new firm formation.

The new generation: characteristics and motivations of BME graduate eEntrepreneurs

The purpose of this research is to profile the characteristics and entrepreneurial motivations of graduate entrepreneurs from black and minority ethnic (BME) communities. The authors found that: BME graduate entrepreneurs were diverse in terms of their characteristics: size, gender, ethnicity and when they started the business. Almost all interviewees had worked for someone before they started their business. The two most compelling motivations for start up were 'being your own boss', especially for Indians and Bangladeshis; and making more money (31%), in particular for African Caribbeans. Over half of interviewees started a business in a sector in which they had prior experience, knowledge or skills. Two thirds of interviewees obtained advice from family and friends, while just over a third had completed any kind of training or course. This study has provided an insight into characteristics and entrepreneurial motivations of BME graduate entrepreneurs. Though the results of this study are indicative, there is a compelling case for further research into this relatively unexplored group.

Black and minority ethnic graduate entrepreneurs: motivations, characteristics and access to finance

This paper draws upon four case studies to examine characteristics, entrepreneurial motivations and access to finance of black and minority ethnic (BME) graduates in the UK. We find that BME graduates starting a business are motivated by a desire to “do better”, and rely heavily on personal savings and family sources for start-up capital. In addition: • There is no conclusive evidence that suggests in this study that BME graduates entered entrepreneurship because of unemployment; with the exception of a few, all had jobs prior to entering self employment. • “Glass ceilings” were often cited by participants of the case studies as a kind of barrier, but there was reluctance to specify exactly what that meant. • Also, lack of satisfaction from working for others is considered to be a strong motivator for entering self-employment but other reasons, to be one’s own boss and the prospect of higher earnings, are also strong motivators. There is, therefore, a need for support agencies and universities to recognise the distinctive nature of BME graduate enterprise in order to provide effective solutions for different groups. This might include a) work experience, b) advice on an adequate capital structure at start up, c) adequate funding and training, and d) appropriate training for all graduates in basic business education.

Access to start up finance for ethnic minority graduate entrepreneurs in the West Midlands: a gendered perspective

This aim of this paper, from a study funded by the National Council for Graduate Entrepreneurship (NCGE), is to explore access to finance for ethnic minority graduate entrepreneurs (EMGEs) with a particular focus on comparisons between different ethnic groups, and men and women. The authors interviewed selected individuals based upon a review of literature on finance for ethnic minority enterprise. A number of key results from the survey, in that EMGEs: • use external finance significantly (more so than non graduates) and encounter barriers in accessing finance at start-up, in particular those belonging to poor families. • rely excessively on personal savings and family finance, at the start-up and long after the start-up stage, that has implications for the optimal capital structure. • start up businesses that are, on average, larger than non-graduate enterprises and have the potential to reduce economic inactivity amongst the ethnic population. • have, in contrast to general graduate start-ups, a high level of unemployment, take a longer period of time to enter employment and there is a higher level of dissatisfaction with career progression. These findings raise the question whether the right financial advice is taken and whether this behaviour constrains EMGEs' expansion.

No regrets? Measuring the career benefits of a psychology placement year

We report an analysis of whether a psychology placement year provides a significant benefit to graduates’ careers. Destination of Leavers from Higher Education (DLHE) survey data six months post-graduation suggested that placement programme graduates across the university are more likely to be (i) in work and (ii) in graduate level jobs. For psychology, the association between graduates’ placement status and employment status at six months post graduation was not significant overall. However, when analyses were split by degree classification obtained, it was shown that amongst those graduates with 2.1 classification degrees reporting themselves as working, more placement programme vs. non-placement programme graduates had obtained graduate level jobs (63% vs. 33%). In 2.2 graduates there was no significant association. This pattern persisted in the data from a survey of psychology alumni (from 18 months to six and a half years post graduation). Psychology placement programme alumni were more satisfied with their careers even when ethnicity, gender, degree classification and entry year were taken into account. They also earn more, although not when background factors are taken into account. This study was therefore able to show some measurable and persistent effects of a psychology placement year, although whether the benefits can be claimed to outweigh the costs is inconclusive. Limitations and implications are discussed.

Customer value based entry decision in International markets the concept of International Added Customer Equity

Market entry decisions are some of a firm's most important long-term strategic choices. Still, the international marketing literature has not yet fully incorporated the idea of relationship marketing in general, and the customer value concept in particular, as a basis for market entry decisions. This article presents some conceptual ideas about a customer value based market selection model. The metric International Added Customer Equity (IACE), a straightforward decision criterion derived from the customer equity concept is presented as an additional decision criterion for export market selection and ultimately market entry.

A comparison of microphone and speech recognition engine efficacy for mobile data entry

The research presented in this paper is part of an ongoing investigation into how best to incorporate speech-based input within mobile data collection applications. In our previous work [1], we evaluated the ability of a single speech recognition engine to support accurate, mobile, speech-based data input. Here, we build on our previous research to compare the achievable speaker-independent accuracy rates of a variety of speech recognition engines; we also consider the relative effectiveness of different speech recognition engine and microphone pairings in terms of their ability to support accurate text entry under realistic mobile conditions of use. Our intent is to provide some initial empirical data derived from mobile, user-based evaluations to support technological decisions faced by developers of mobile applications that would benefit from, or require, speech-based data entry facilities.

A comparison of the impact of avoidance cues in hazard avoidance during evaluation of text entry

The research presented in this paper is part of an ongoing investigation into how best to support meaningful lab-based evaluations of mobile technologies. In our previous work, we developed a hazard avoidance system for use during lab evaluations [1]; in the work reported here, we further assess the impact of this system, specifically in terms of the effect of avoidance cue type on speech-based text entry tasks.

Graduate employability, 'soft skills' versus 'hard' business knowledge:a European study

There is a growing awareness in the UK and mainland Europe of the importance of higher education to the development of a knowledge-based economy. European universities are increasingly required to produce highly mobile graduates able to respond to the ever-changing needs of the contemporary workplace. Following the Bologna Declaration (19991. 19 June 1999 . “The European Higher Education Area” (Bologna Declaration), Joint Declaration of the European Ministers of Education, Bologna, higher education across Europe has expanded rapidly. This has resulted in questions being raised about the quality of the graduate labour market and the ability of graduates to meet the needs of employers. This paper analyses graduate and employer perspectives of graduate employability in four European countries (UK, Austria, Slovenia and Romania). In doing so it adds to current debates in this area.

Exploring supply chain related graduate programmes in the UK:a view on their structure, content and approaches

Research in skill requirements needed by supply chain/logistics (SCL) managers has been published since the early nineties, however, research on what is really taught (e.g. curriculum, learning philosophies) by universities is scant. This paper's aim is to fill in this gap by analysing SCL graduate teaching in the UK. Data from 50 SCL MSc programmes were collected from 43 universities. Findings indicate that there seems to be a gap emerging between industry's needs and the content of the programmes being offered. This gap concerns employability, problem based learning, international business and the acquisition of softer interpersonal and problem solving skills.