ALBERT

Notizen: After an introduction setting out the general state of work on the national accounts in the Middle East the author considers the principal uses of national accounts statistics in less developed countries. The first group of uses discussed is in connexion with the measurement of growth and the making of international comparisons. The author is of the opinion that in many cases the primary statistical series are so weak that the fact they they are combined together into a series called national income or gross domestic product lends to them a significance which they do not really possess. The real problem is to improve the quality of the primary series.A second use of national accounts statistics is in connexion with fiscal and budgetary policy. In the statistically advanced countries this is one of the most important uses but in the less developed countries budgetary policy has not yet reached a level of sophistication which would call for the use of national accounts data. Moreover, the time factor involved in assembling accurate national accounts estimates militates against their effective use for short term forecasting.The author considers that the most important use for national accounts statistics is to provide a framework for development planning. The United Nations system is not altogether appropriate for this purpose. It grew up primarily as a system for recording income flows but in development planning one is concerned equally with commodity flows with a great deal of attention being focussed upon intermediate products. The proposals of the working group of African Statisticians for an adaptation of the S.N.A. to African countries represents a most important advance in this respect.In the final section of the paper the author advocates a broader definition of capital formation to include developmental expenditure which is not properly defined as fixed capital formation. Education expenditure is cited as an example. It is suggested that in the national accounts it would be desirable to operate with gross concepts. However, the growth of the capital stock is obviously important in less developed countries and it is suggested that statistical techniques be devised to measure it directly wherever possible. Finally, attention is drawn to the ambiguities and weaknesses in the concept of residence as used at present in the S.N.A.

Notizen: This study of 158 organizations sought to depict current uses of computers in R&D. A survey of senior R&D management by the Industrial Research Institute identifies a number of salient features. Routine computer use is becoming a characteristic of scientists, engineers, and managers. Yet characteristics of usage differ markedly by size of R&D unit and by line of business. Moreover, patterns of responses suggest on-going changes toward the time when R&D will be strongly coloured by the context of an integrated, intelligent computer environment. This implies new roles and skill requirements for R&D managers, professionals, and support staff.

Notizen: This paper discusses the Stochastic Dominance (SD) approach to the evaluation of risky assets. Given a set of portfolios, the familiar EV procedure chooses a set of EV-efficient portfolios while the SD procedures choose SD-efficient sets that usually are quite similar to (but not identical with) the EV-efficient set. The SD approach can be employed as a refinement of the EV model or as an alternative method of evaluating portfolios. The SD view has certain conceptual advantages in the screening of a set of portfolios, but the EV model has the important advantage of an optimizing algorithm that builds efficient portfolios. Also, the SD approach requires more data than the EV approach.

Notizen: Current concepts in the field of Total Quality Management (TQM) are largely based upon case studies, anecdotal evidence and the prescriptions of leading “gurus.” Consequently, there is little consensus on which factors are critical to the success of the approach. Few attempts have been made to scientifically synthesise frameworks for measuring quality management practices, and a methodology for examining the issue has yet to be established. This has meant that current TQM models, such as the Malcolm Baldrige Award, have not been constructed or validated by empirical means. This paper presents a research methodology that can be used to improve self-assessment frameworks, such as the Baldrige Award, to better inform organisations in the development of Total Quality Systems.The research extracts a series of items from the Baldrige model and established literature. These items formed the basis of a questionnaire sent to over 200 managers. Data was examined using several well-established analytical techniques that identified 10 critical factors of TQM. These factors were shown to be reliable and valid, and offer new insights into our understanding of TQM.

Notizen: We examine dual classes of shares with identical dividends and liquidation treatment, but with different voting rights. We extend previous dud class studies by examining bid-ask adjusted prices and by examining returns after controlling for bid-ask spread and market value differences between voting classes. We establish that voting right differences, although related to price differences between superior and restricted voting shares, do not impact on average returns behavior. These findings are consistent with previously forwarded voting premium hypotheses.

Notizen: A new framework for the study of interdisciplinary research processes is presented ‘STRAP’ emphasizes the combination of identifiable skills—substantive knowledge and techniques—that must come together to solve a complex research problem. This framework holds promise of better accommodating non-academic settings and yielding new insights into the management of complex R&D projects.

Notizen: This paper develops microcomputer-based R and D project selection and project evaluation models. The models use Lotus 1-2-3 as a vehicle to provide practical research management support suitable for a developing country. The models are readily adaptable for various R and D management applications.