On a foundation for Cournot equilibrium

We show in the context of a bilateral oligopoly where all agents are allowed to behave strategically the unexpected result that when the number of buyers becomes large the outcomes in a strategic market game do not converge to those at the Cournot equilibrium. However, convergence to Cournot outcomes is restored if the game is sequential: sellers move simultaneously as do buyers, but the former always move before the latter. This suggests that the ability to commit to supply decisions is an essential feature of Cournot equilibrium

Strategic decision-making processes as a mediator of the effect of board characteristics on company innovation: A study of publicly-listed firms in Greece

Based on the Upper Echelons Theory that suggests the demographic characteristics of executives are linked to organisational processes and outcomes, the paper proposes that strategic decision-making processes mediate the relationship between board members’ demographic characteristics and corporate innovation relating to product, process and organization. Based on questionnaires completed by 101 CEOs of Greek listed firms, the findings confirm that reporting and formalization as decision processes mediate the effect of board characteristics on innovation. Sound financial and formal mechanisms encourage Greek executives to take risks and invest in product or service innovation. Findings show that the executives’ educational level is positively associated with financial reporting and rule formalization activities due to the changes that have been occurred in the Greek education system over recent decades. Functional background is found to influence only financial reporting activities. Finally, the managerial implications of this study are discussed

The influence of boards of directors’ characteristics on strategic decision-making: Evidence from Greek companies

This article is available open access from the publisher’s website at the link below.This study explores the influence Boards of Directors’ demographic characteristics on the process of making strategic decisions. Empirical testing is based on a sample of 105 Greek companies listed on the Athens Stock Exchange. The results suggest that educational level affect both the financial reporting and the hierarchical decentralisation in the strategic decision-making process. Also, functional background of executives was found to be related with financial reporting. However, the educational specialty did not appear to have any significant influence on the strategic decision-making process. In light of these findings, implications for practitioners are made and avenues for future research are suggested

Urosaurus graciosus

Number of Pages: 3Integrative BiologyGeological Science

THE EFFECTS OF MARKET INTELLIGENCE SYSTEMS ON SALES REVENUE AMONG FRENCH BEAN PRODUCERS: A CASE STUDY OF OL-DONYO SABUK, MACHAKOS COUNTY, KENYA

Businesses operate in a world in which information is more readily and publicly available than ever before. Thanks to the development of the Internet, information on market trends, legislation, customers, suppliers, competitors, distributors, product development and almost every other conceivable topic is available at the click of a mouse. Search engines, online libraries, company websites and other sources provide information in an increasingly plentiful, easy to find, and easy to digest way. Small-scale farmers continue to sell their French beans to middlemen at throw away prices yet there are exporting companies that can buy their beans at high prices for profitability. This has been brought about by the possible missing information about the French beans marketing trends and the profitability of the crop, limited access to the necessary capital to make the switch possible, poor infrastructure necessary to bring the crops to export outlets, high risk of the export markets (for instance, from hold-up problems selling to exporters), limited human capital necessary to adopt successfully a new agricultural technology, for instance the Global Good Agricultural Practices (GlobalGAP) and Maximum Residue Levels (MRLs)requirements, and misperception by researchers and policy makers about the true profit opportunities and risk of crops grown for export markets. This study was conducted to assess the impact of market intelligence systems on sales revenue of French bean farmers in Ol-Donyo Sabuk of Machakos County, Kenya. To achieve this overall objective, three specific objectives were addressed, namely; (1) to establish the existing French beans marketing channels in Ol-Donyo Sabuk, (2) to compare the sales revenues of French bean farmers with and without market intelligence systems, and (3) to compare return on capital for different actors within the French bean value chain. Systemic random sampling was used to select 120 farmers for this study. Data were collected through administering questionnaire for personal interviews. Data analysis was carried out using descriptive statistics such as percentages, and means to answer the stated objectives. In addition, statistical package for social sciences (SPSS) was used to analyse data. The study revealed that 30 percent of the 120 sampled French bean producers had access to French bean market intelligence systems, which is a small proportions of farmers compared to those who did not have access. The results revealed that 30 percent of the 120 sampled French bean producers were selling their produce as a group and had access to market intelligence systems 70 percent of the 120 sampled French bean producers not having access to market intelligence systems thus selling their produce to brokers. The results showed that group farmers selling their product to exporters had a higher return on capital as compared to individual farmers selling their produce to middlemen. xiii Based on the results of this study, it is recommended that the government and other key players in the horticulture industry enhance extension services to French bean producers by training them on market intelligence systems and stringent EU market requirements in order to improve on sales revenues from the crop and subsequent return on capital. Further the government establishes a French beans value addition plant that will cater for all farmers in French beans production and a high return on capital will go to Kenya economy but not to foreigners who own most of the value addition plants. This will too provide employment to many. The brokers should be removed from the production chain because they misuse farmers making profits where they did not invest and exporters would be advised to improve on their mode of produce payment and produce rejection handling.There is need to do away with hawkers and brokers within the value chain by having binding contracts and steady markets. Based on the findings, policy implications were drawn for improvingthe quality of French beans immensely by farmers through complying with GlobalGAP right from land preparation to harvesting and adhering to stipulated MRLs, proper postharvest handling of the produce with thorough grading and subsequent proper storage

An aid to the development of Botswana's resources

There are no author-identified significant results in this report

Clustering and networking among small independent hotels: developments over ten years

This paper reports on networking activities amongst a cluster of independent hotels with a view to analysing key variables in network development for SMEs. A comparative, longitudinal element is introduced by reference to an earlier study of the same phenomenon, ten years earlier. Of particular interest is the influence of various forms of social capital in the development of informal networks and the inter-play between co-operation and competition over time. Given the time gap between the two studies, the effect of sectoral changes on network development is also examined. The research revisits and extends a previous study of many of the same hotels which were investigated in 1995 over their formal and informal links that were found to be influenced by such factors across two classifications - the business as unit (proximity, perceptions of quality) and the individual respondent (personal social networks and ethnicity). Extending that analysis, social capital concepts and relevant references to embedded networks and kinship groups and co-operative game rules will be introduced in this paper. A highly concentrated population of small, independent hotels in Central London had been identified in the previous research project and it is from this sample that the current research drew and extended its own sample of hotels. With such a high number of hotels in the area a mixture of ‘snowball’ sampling and self-selection was successfully employed. Of the original 29 hotels, 22 have been re-interviewed and complemented by another 19. Of the remainder of the original sample, several had subsequently merged or failed to survive the intervening period. Face-to-face interviews were conducted with owner-managers in all cases using a structured questionnaire that replicated as much as possible of the original questionnaire, with both open and closed questions to allow some individual expression on relevant topics. The quantitative data obtained will be analysed using UCINET software to generate visual representations of networks alongside statistical and cluster analyses. Both academic and policy implications are likely to arise from this research, such as novel insights from such an unique periodic comparison of networks development, the influence of social capital on (formal and informal) network activities and the changing influence and consolidation of hotel groups through mergers and franchising

Systematic review of new medics’ clinical task experience by country

OBJECTIVES: There is a need for research which informs on the overall size and significance of clinical skills deficits among new medics, globally. There is also the need for a meta-review of the similarities and differences between countries in the clinical skills deficits of new medics. DESIGN: A systematic review of published literature produced 68 articles from Google/Scholar, of which 9 met the inclusion criteria (quantitative clinical skills data about new medical doctors). PARTICIPANTS: 1329 new medical doctors (e.g., foundation year-1s, interns, PGY1s). SETTING: Ten countries/regions. MAIN OUTCOME MEASURES: 123 data points and representation of a broad range of clinical procedures. RESULTS: The average rate of inexperience with a wide range of clinical procedures was 35.92% (lower CI 30.84%, upper CI 40.99%). The preliminary meta-analysis showed that the overall deficit in experience is significantly different from 0 in all countries. Focusing on a smaller selection of clinical skills such as catheterisation, IV cannulation, nasogastric tubing and venepuncture, the average rate of inexperience was 26.75% (lower CI 18.55%, upper CI 35.54%) and also significant. England presented the lowest average deficit (9.15%), followed by New Zealand (18.33%), then South Africa (19.53%), Egypt, Kuwait, Gulf Cooperation Council countries and Ireland (21.07%), after which was Nigeria (37.99%), then USA (38.5%), and Iran (44.75%). CONCLUSION: A meta-analysis is needed to include data not yet in the public domain from more countries. These results provide some support for the UK General Medical Council’s clear, detailed curriculum, which has been heralded by other countries as good practice

Poetic theory of Yves Bonnefoy

SIGLELD:D46974/83 / BLDSC - British Library Document Supply CentreGBUnited Kingdo