Micro Foundations of Price-Setting Behaviour: Evidence from Canadian Firms

How do firms adjust prices in the marketplace? Do they tend to adjust prices infrequently in response to changes in market conditions? If so, why? These remain key questions in macroeconomics, particularly for central banks that work to keep inflation low and stable. The authors use the Bank of Canada's 2002-03 price-setting survey data to investigate Canadian firms' price-setting behaviour; they also analyze the micro foundations for the firms' pricing behaviour using count data and probit models. The authors find that, all else being equal, firms tend to adjust prices more frequently if they are state-dependent price-setters, operate in the trade sector, or have large variable costs or more direct competitors. There are various sticky-price theories; in the Bank's price-setting survey, the senior management of firms were read a simple statement in non-technical language that paraphrased each sticky-price theory, and were then asked whether the statement applied to their firm. The most frequently recognized sticky-price theories are customer relations, cost-based pricing, and coordination failure. The authors' analysis indicates that if firms recognize coordination failure on price increases, sticky information, menu costs, factor stability, or customer relations as being important, they tend to adjust prices less frequently. The authors also find that the patterns discernible within firms' recognition of stickyprice theories are strongly associated with firms' micro foundations.Inflation and prices; Transmission of monetary policy

Taming the ‘trolls’ : major public projects in the making

Major projects are not yet sufficiently understood, and practices in project governance and project management do not yet reflect the current state of knowledge of large, complex projects. In an attempt to understand the reasons, the authors therefore investigated the latest relevant findings documented in three countries: the UK, Norway, and the Netherlands. Their examination of the effect of implementing governance frameworks for public projects in these countries indicates that efforts to improve major projects are giving rewards: Even if complex public projects, the ‘trolls’, become more challenging, efforts to ‘tame’ them are improving. The results of the study show that project planning has improved and cost overruns are reduced. However, recent observations indicate that the effect may wear off remarkably quickly. Hence, the need for continuous improvement and change is prominent. There are fundamental limitations in the use of formal systems as they cannot detect all problems and there are limitations to humans' ability in terms of optimism bias that cannot be eliminated

The impact of regulation, ownership and business culture on managing corporate risk within the water industry

Although the specifics of water utility ownership, regulation and management culture have been explored in terms of their impact on economic and customer value, there has been little meaningful engagement with their influence on the risk environment and risk management. Using a literature review as the primary source of information, this paper maps the existing knowledge base onto two critical questions: what are the particular features of regulation, ownership and management culture which influence the risk dynamic, and what are the implications of these relationships in the context of ambitions for resilient organizations? In addressing these queries, the paper considers the mindful choices and adjustments a utility must make to its risk management strategy to manage strategic tensions between efficiency, risk and resilience. The conclusions note a gap in understanding of the drivers required for a paradigm shift within the water sector from a re-active to a pro-active risk management culture. A proposed model of the tensions between reactive risk management and pro-active, adaptive risk management provides a compelling case for measured risk management approaches which are informed by an appreciation of regulation, ownership and business culture. Such approaches will support water authorities in meeting corporate aspirations to become "high reliability" services while retaining the capacity to out-perform financial and service level targets

ILR Research in Progress 2006-07

The production of scholarly research continues to be one of the primary missions of the ILR School. During a typical academic year, ILR faculty members published or had accepted for publication over 25 books, edited volumes, and monographs, 170 articles and chapters in edited volumes, numerous book reviews. In addition, a large number of manuscripts were submitted for publication, presented at professional association meetings, or circulated in working paper form. Our faculty's research continues to find its way into the very best industrial relations, social science and statistics journals.Research_in_Progress_2006_07.pdf: 18 downloads, before Oct. 1, 2020

ILR Research in Progress 2013-14

The production of scholarly research continues to be one of the primary missions of the ILR School. During a typical academic year, ILR faculty members published or had accepted for publication over 25 books, edited volumes, and monographs, 170 articles and chapters in edited volumes, numerous book reviews. In addition, a large number of manuscripts were submitted for publication, presented at professional association meetings, or circulated in working paper form. Our faculty's research continues to find its way into the very best industrial relations, social science and statistics journals.Research_in_Progress_2013_14.pdf: 54 downloads, before Oct. 1, 2020

ILR Research in Progress 2011-12

The production of scholarly research continues to be one of the primary missions of the ILR School. During a typical academic year, ILR faculty members published or had accepted for publication over 25 books, edited volumes, and monographs, 170 articles and chapters in edited volumes, numerous book reviews. In addition, a large number of manuscripts were submitted for publication, presented at professional association meetings, or circulated in working paper form. Our faculty's research continues to find its way into the very best industrial relations, social science and statistics journals.Research_in_Progress_2011_12.pdf: 46 downloads, before Oct. 1, 2020

Board mechanisms and Malaysian Family Companies' Performance

Many overseas studies discussed the topic of corporate governance and performance in family companies, however, few studies have been conducted in Malaysia. The objective of this paper is to examine the board mechanisms and family companies’ performance using three performance indicators (Tobin’s Q, Earnings Per Share & Operating Cash Flow). The sample size is 189 family companies listed on Bursa Malaysia from 2003 to 2007. The findings from this study reveal that some of the board mechanisms influence family companies’ performance. This study evidenced that family companies with a large board size, low directors’ expertise and duality leadership contribute to higher family companies’ performance. However, this study found that the academic qualification of directors does not influence firm performance. Therefore, generally, regulators and investors need to be sensitive to the fact that family companies do have differences in corporate governance practices compared to non-family companies

An Exploratory Study of Patient Falls

Debate continues between the contribution of education level and clinical expertise in the nursing practice environment. Research suggests a link between Baccalaureate of Science in Nursing (BSN) nurses and positive patient outcomes such as lower mortality, decreased falls, and fewer medication errors. Purpose: To examine if there a negative correlation between patient falls and the level of nurse education at an urban hospital located in Midwest Illinois during the years 2010-2014? Methods: A retrospective crosssectional cohort analysis was conducted using data from the National Database of Nursing Quality Indicators (NDNQI) from the years 2010-2014. Sample: Inpatients aged ≥ 18 years who experienced a unintentional sudden descent, with or without injury that resulted in the patient striking the floor or object and occurred on inpatient nursing units. Results: The regression model was constructed with annual patient falls as the dependent variable and formal education and a log transformed variable for percentage of certified nurses as the independent variables. The model overall is a good fit, F (2,22) = 9.014, p = .001, adj. R2 = .40. Conclusion: Annual patient falls will decrease by increasing the number of nurses with baccalaureate degrees and/or certifications from a professional nursing board-governing body

Knowledge Management and Sustainable Agriculture:the Italian Case

The contemporary knowledge-based economy requires global usage of information in all aspects of modern society. Pertinent information is an important asset for successful business, therefore an application of knowledge management in organisational practice has become a crucial factor for the viability and sustainable development of enterprises. This is particularly relevant for the agricultural context, which needs modern practices for enhancement and development. However, information and knowledge, due to their intangible character, seem difficult to manage and organize. Therefore the paper targeted at developing sustainable organizational model of knowledge management for small and medium enterprises. Italian agriculture is considered as a context for this study, and knowledge management was offered as a tool for facilitating agricultural performance and increasing competitiveness of agricultural sector. A wide concept of knowledge management and specified agricultural context require a theory-based approach to research and a survey. Thus, the research methodology includes the next four parts. The first one contains literature review and examines definitions, strategies, approaches and models of sustainable knowledge management. The second part includes content analysis of 105 scientific publications. The third part of methodology is based on the results of the two previous parts and includes creating the model of knowledge management. Verification of this model is the last part of the research. Verification was executed through on-line questionnaire distributed to Italian agricultural enterprises throughout the country on their intentions and awareness towards knowledge management and developed model of knowledge management. The results of the survey have demonstrated farmer’s incentives to implement the developed knowledge management model with flexible approach in its organisation