We evaluate the impact of changes in the price of crude oil on the United Kingdom (U.K.) real gross domestic product (GDP) growth rate by way of an out-of-sample forecasting analysis. We compare the performance of several nonlinear models and determine, which aspects of nonlinearities are most useful for obtaining forecast improvements. Likewise, our approach takes into account the possibility that relative predictive performance can vary over the out-of-sample period. Results based on quarterly data from 1974q1 through 2018q4 illustrate that our conclusions depend on the definition of forecast improvement and whether we rely on pairwise or multiple forecast comparison. For instance, it is very difficult tofind evidence that point forecasts exploiting crude oil price variables are statistically significant more accurate than point forecasts produced under the benchmark. On the other hand, the null hypothesis of no population-level predictability is borderline rejected for certain nonlinear crude oil price variables. We also observe notable differences between using real-time and ex-post revised GDP data with regards to local out-of-sample performance. The predictive power associated with the more successful crude oil price measures appears to concentrate in the early 1990s and around the onset of the Great Recession.

Introduction

The aim of this study is to evaluate the predictive impact of changes in the price of crude oil on the United Kingdom (U.K.) real gross domestic product (GDP) growth rate via an out-of-sample analysis. We are motivated to do so based on several interesting results reported in widely cited studies, such as Bachmeier, Li, and Liu (2008), Carlton (2010), Kilian and Vigfusson (2013), Ravazzolo and Rothman (2013) and Ravazzolo and Rothman (2016) . 1 The central question running through these studies is whether changes in the price of crude oil have a predictive impact on the real U.S. GDP growth rate out-of-sample.2 However, in the context of other countries relatively less is known about whether (a): Changes in the price of crude oil help forecast the country specific real GDP growth rate, (b): If the predictive impact of crude oil price changes on the real GDP growth rate is nonlinear and (c): If so what types of nonlinearities. In fact, in their seminal study, Kilian and Vigfusson (2013) argue that understanding the nonlinear/asymmetric predictive impact of changes in the price of crude oil on the real GDP growth rate deserves further study on non-U.S. data. Arguably, the U.K. can be considered as an interesting case because it is a developed, open economy, which has transitioned from being a net crude oil importer in the 1970s to a net exporter in the 1980s and early 1990s before returning to being a net importer again since the mid 2000s.3 This in turn, provides a very good opportunity to evaluate (a), (b) and (c). Likewise, studies such as Jim
enez-Rodríguez and S
anchez (2006), Harrison, Ryland, and de Weymarn (2011), Millard (2011) and Millard and Shakir (2013) focus on the causes and effects of crude oil price changes on the U.K. economy via examination of impulse response functions. However, they do not account for nonlinearities in the relationship between the price of crude oil and the growth rate. Similar to simulations provided by the National Institute for Economic and Social Research (NIESR) and the Bank of England they conclude that a fall in the price of crude oil leads to an increase in the U.K. GDP growth rate. To date, a comprehensive analysis on the predictive impact of crude oil price changes on the U.K. GDP real growth rate has not been conducted. The purpose of this study is to fill this gap. Finally, the increasing financialization of the crude oil market and the important role of crude oil in the context of a developed, open economy, such as the U.K. makes our analysis interesting to a broad audience.

This article traces the early form of public information services during the colonial period to provide new insights into the historical development of Malaysia’s public relations. The first formal information agency created in 1910 was based in London to promote the early practices of public relations for British Malaya and its interests in Britain. British consolidation during the years of economic boom and depression, until the achievement of Malaysian Independence, was aided by the early information services. The article makes an alternative argument about the beginnings of Malaysian public relations based on colonial economic and political interest as against other previously held views

Introduction and literature review

A discussion about the beginning of public relations in any given country draws keen interest and debate. Tracing the origins and development of public relations can produce varying results and interpretations based on the premises of scholars. It can be equally challenging because of scarce sources and difficulty accessing materials (L’Etang, 2009). With regard to the beginnings of public relations in Malaysia, one interpretation claims that public relations in the country existed during the time of the old Sultanates as part of the administrative bureaucracy. Adnan (1985) narrated the presence of public relations-related activities under the controlled administration of the Melaka Sultanate in the 15th century, referring to the works of court officials. Another view was that public relations was an outcome of modern history, drawing its strength from the social and political national consciousness movement against the British colonialist (Nordin, 1986). Ahmad Nordin, one of the early public relations practitioners, approached the development of public relations in Malaysia as an organized agitation in 1945 at the end of World War II (Nordin, 1986). He claimed that the field embodied propaganda-related activities that were undertaken by the British administration and the Malaysian movement for nationhood. For Nordin, this movement for independence constituted the early forms of public relations. Idid (1980, 1995, 2004) associated the development of public relations in Malaysia with the growth of government bureaucracy, mass media and communication technologies claiming that organized public relations activities in Malaysia began with the establishment of the Department of Information of 1939 during the British administration as a World War II propaganda machinery. Many scholarly views of public relations development in Malaysia point to British influence (Idid, 1995; Nordin, 1986). The Institute of Public Relations Malaysia (IPRM), set up in 1962, was itself influenced by the practice and ideology of the British Institute of Public Relations established in 1948 (Idid, 2005). IPRM adopted the definition of public relations from the British group. The British Ministry of Information, formed for the Second World War, nurtured the Department of Information in Malaysia, first, through the creation of the Department of Information in 1939, and then later, through the Department of Information and Publicity in 1941 (Idid, 1995). British scholars (Anthony, 2012; L’Etang, 2009, 2013; Moloney, 2000) credited the Empire Marketing Board (EMB) to the beginnings of public relations in the British Commonwealth of Nations.

1- Introduction

2- Research hypotheses

3- Research methodology

4- Discussion and conclusions

References

Abstract

While marketing analytics plays an important role in generating insights from big data to improve marketing decision-making and firm competitiveness, few academic studies have investigated the mechanisms through which it can be used to achieve sustained competitive advantage. To close this gap, this study draws on the dynamic capability view to posit that a firm can attain sustained competitive advantage from its sensing, seizing and reconfiguring capabilities, which are manifested by the use of marketing analytics, marketing decision-making, and product development management. This study also examines the impact of the antecedents of marketing analytics use on marketing related processes. The analysis of a survey of 221 UK firm managers demonstrates: (a) the positive impact of marketing analytics use on both marketing decision-making and product development management; (b) the effect of the latter two on sustained competitive advantage; (c) the indirect effect of data availability on both marketing decision-making and production development management; and (d) the indirect effect of managerial support on marketing decision-making. The research model proposed in this study provides insights into how marketing analytics can be used to achieve sustained competitive advantage.

Introduction

Marketing analytics, which is a domain of business analytics (Holsapple, Lee-Post, & Pakath, 2014), refers to the collection, management, and analysis of data to extract useful insights to support marketing decision-making (Germann, Lilien, & Rangaswamy, 2013; Hanssens & Pauwels, 2016; Wedel & Kannan, 2016). While recent research indicates that the use of marketing analytics could have the potential to improve firm competitiveness and/or performance (e.g., CMO-Survey, 2016; Germann et al., 2013; Hanssens & Pauwels, 2016; Xu, Frankwick, & Ramirez, 2016), such a potential is still largely untapped, unexplored (Ariker, Diaz, Moorman, & Westover, 2015; McKinsey, 2016; Wedel & Kannan, 2016), and has yet to be substantiated (Germann et al., 2013). While the various conditions needed for using business analytics have not been sufficiently studied (Chen, Preston, & Swink, 2015; Trieu, 2017), it is not clear how business analytics could be used in order to improve decision-making and firm competitiveness and/or performance (Chen et al., 2015; Germann et al., 2013; Wedel & Kannan, 2016). Thus, more research with “deeper analysis” is needed (Sharma, Mithas, & Kankanhalli, 2014). In order to advance our understanding of marketing analytics, this study seeks to answer two research questions. First and foremost, what are the mechanisms through which marketing analytics can be used to achieve firm competitiveness? Recent studies seem to have focused on the direct impact of marketing analytics use on firm competitiveness and/or performance (e.g., Germann et al., 2013; Xu et al., 2016) but paid little attention to explaining the mechanisms through which marketing analytics can be used to improve firm competitiveness (Wedel & Kannan, 2016). Several streams of research suggest that the link between the use of business analytics to firm competitiveness is rather complex (e.g., Tan, Guo, Cahalane, & Cheng, 2016). Conceptual research suggests that business analytics will first influence firm decision-making, which will in turn affect firm competitiveness and/or performance (Seddon, Constantinidis, Tamm, & Dod, 2017; Sharma et al., 2014). IT studies argue that the first order impacts of IT investment should be measured at managerial and operational processes (Barua, Kriebel, & Mukhopadhyay, 1995; Radhakrishnan, Zu, & Grover, 2008; Tallon, Kraemer, & Gurbaxani, 2000). Yet, to the best knowledge of the authors, no research has conceptualized, let alone empirically demonstrated, the mechanisms through which the use of marketing analytics can be linked to marketing related processes or capabilities and sustained competitive advantage.

1- Introduction

2- Literature review

3- Research design

4- Findings and discussion

5- Conclusions

References

Abstract

The hospitality industry generates substantial amounts of food waste. Although the issue has been politically recognised, it remains under-researched. Studies are limited in number and restricted in sectoral and geographical coverage. They have attempted to quantify and characterise food waste in hospitality ventures while the managerial approaches to its reduction have not been scrutinised. The coffee shop sub-sector of the hospitality industry has been entirely excluded from analysis. This study examined food waste in UK coffee shops through the managerial lens. While food waste represents a significant challenge, the managerial approaches to its minimisation are conservative and focus on disposal, rather than prevention. Lack of governmental support, imperfect legislation, irresponsible consumer behaviour and restricted internal resources inhibit application of more advanced managerial approaches. To enhance the effectiveness of food waste management within the sub-sector, targeted policy interventions designed to strengthen corporate commitments and facilitate pro-environmental changes in consumer behaviour are necessary.

Introduction

Food waste is a major issue which is related to a set of further global environmental and socio-economic challenges (Segrè et al., 2014). Although there are substantial geographical and sectoral variations in its distribution, food waste is equally pronounced in developed and emerging economies, which underlines the political importance and highlights the urgency of its mitigation (Hodges et al., 2010). Despite the efforts undertaken to-date to combat food waste, the issue persists and calls for better scientific understanding, enhanced public recognition and reinforced political attention (WRAP, 2017). Hospitality food waste represents an issue of particular concern (Pirani and Arafat, 2014). With its share of 12%, the hospitality industry is the third largest food waste generator in Europe, after households and food manufacturing and processing enterprises (FUSIONS, 2016). In the UK, hospitality businesses generate circa 0.9 million tonnes of food waste annually, which translates into 10% of the national food waste stream (WRAP, 2017). The issue is likely to intensify as the frequency of dining out is rising in both developed and emerging economies, implying growing demand for food (Mintel, 2016a). Importantly, up to 80% of UK hospitality food waste is avoidable (WRAP, 2017), but the issue occurs due to the deficiencies in business operations, poor managerial practices and reckless consumer behaviour (Engström and Carlsson-Kanyama, 2004). In the absence of effective prevention and mitigation measures, the future hospitality industry is likely to generate substantial amounts of food waste, thus hampering its quest towards sustainability (Betz et al., 2015). Despite its global importance, the issue of hospitality food waste remains under-researched (Papargyropoulou et al., 2016; Pirani and Arafat, 2016; Radwan et al., 2010). Although the number of studies that have set to address this issue has recently been growing (see, for instance, Charlebois et al., 2015; Heikkilä et al., 2016), both the scope and the scale of their analysis remain limited (Kim et al., 2017; Myung et al., 2012).

1- Introduction

2- Methods

3- Results

4- Discussion

References

Abstract

Children who grow up in neighborhoods with more green vegetation show enhanced cognitive development in specific domains over short timespans. However, it is unknown if neighborhood greenery per se is uniquely predictive of children’s overall cognitive development measured across many years. The E-Risk Longitudinal Study, a nationally representative 1994-5 birth-cohort of children in Britain (n = 1658 urban and suburban-dwelling participants), was used to test whether residential neighborhood greenery uniquely predicts children’s cognitive development across childhood and adolescence. Greenery exposure was assessed from ages 5 to 18 using the satellite imagery-based normalized difference vegetation index (NDVI) in 1-mile buffers around the home. Fluid and crystalized intellectual performance was assessed in the home at ages 5, 12, and 18 using the Wechsler Intelligence Scale, and executive function, working memory, and attention ability were assessed in the home at age 18 using the Cambridge Neuropsychological Test Automated Battery. Children living in residences surrounded by more neighborhood greenery scored significantly higher, on average, on IQ measures at all ages. However, the association between greenery and cognitive measures did not hold after accounting for family or neighborhood socioeconomic status. After adjustment for study covariates, child greenery exposure was not a significant predictor of longitudinal increases in IQ across childhood and adolescence or of executive function, working memory, or attention ability at age 18. Children raised in greener neighborhoods exhibit better overall cognitive ability, but the association is likely accounted for by family and neighborhood socioeconomic factors.

Introduction

Children who grow up in more versus less affluent neighborhoods exhibit better physical, psychological, and cognitive outcomes (Leventhal et al., 2015). Neighborhood socioeconomic status is one of the most frequently measured and consistent predictors of children’s outcomes, even after family-level influences are taken in to account (Brooks-Gunn et al., 1993). For the most part, the specific dimensions of neighborhoods that support healthy child development remain poorly characterized (Minh et al., 2017). Prior research has focused primarily on the influence of negative features of children’s built and social neighborhood environments, including physical decay, neighborhood disorder and crime, and a lack of social cohesion (Galster, 2012; Ross et al., 2001; Sampson and Groves, 1989). However, intriguing new findings are emerging regarding the potential role of positive features of children’s built environments on cognition and health. A number of recent studies have reported positive associations between neighborhood greenery, or the amount of leafy-green vegetation growing within a neighborhood, and children’s scores on cognitive and academic tests in urban and suburban settings (Dadvand et al., 2015, 2017; 2018; Flouri et al., 2018; Hodson and Sander, 2017; Kuo et al., 2018; Kweon et al., 2017; Matsuoka, 2010; Sivarajah et al., 2018; Wu et al., 2014). These findings raise the exciting possibility that children may experience cognitive benefits from spending time in or near “greenery” (Collado and Staats, 2016; Keijzer et al., 2016), and that “greening” vegetation-deprived urban neighborhoods may result in improved cognitive outcomes for children.

The purpose of this paper is to explore, reconcile and depict corporate website favorability (CWF), its antecedents and consequences in the financial setting in the UK and Russia context. To achieve the goals of this study, the research adopted a mixed method research design by using a survey, which is supported by insights from in-depth interviews and focus group discussions. Exploratory factor analysis (EFA), confirmatory factor analysis (CFA) and Structural equation modeling (SEM) were applied to gain insight into the various influences and relationships. The paper develops and empirically validates the framework of CWF antecedents and consequences. The paper indicates essential guidance for cross-functional managers and designers regarding the integrated and holistic practice of building favorable corporate websites as part of the corporate identity management. The paper adds to the understanding of CWF and discusses the antecedents of CWF by drawing upon the existing literature. Furthermore, it offers possible consequences of CWF and provides a framework for future testing.

Introduction

Today’s global environment is becoming predominantly online and visual oriented (Foroudi, Melewar, & Gupta, 2014; Foroudi, 2019). The major global companies communicate and shape their corporate identity across countries via their corporate websites (Abdullah, Nordin, & Abdul Aziz, 2013; Booth & Matic, 2011; Halliburton & Ziegfeld, 2009; Topalian, 2003). According to Opoku, Abratt, and Pitt (2006), the corporate website is a critical element of the corporate identity, and it must be managed well. For companies “nowadays, the websites tell much about what we do as a company, how we strive to change the world” (Nguyen et al., 2016, p. 15). Therefore, the corporate website is a primary vehicle for corporate visual identity and plays an essential role in the way that an organization portrays itself to internal and external stakeholders (Chen & Wells, 1999; Melewar & Karaosmanoglu, 2006; Van den Bosch, Elving, & de Jong, 2006). Building a favorable corporate website is one of the main facets of corporate visual identity, in line with the name, a symbol and/or logo, typography, color, or slogan; it is a way to reveal corporate identity in a visual manner (Ageeva, Melewar, Foroudi, Dennis, & Jin, 2018; Foroudi, Dinnie, Kitchen, Melewar, & Foroudi, 2017; Van den Bosch et al., 2006).

Online trolling is a new phenomenon that is increasingly coming to public attention. Recent events in the United Kingdom (UK) have raised concerns about this behaviour. Trolling is particularly targeted at public figures, and Members of Parliament (MPs) are a prime target. In this study we surveyed UK MPs about their experiences and the impact of being trolled by completing a short online questionnaire. One-hundred and eighty-one MPs responded to our survey. Chi-square tests for independence and one-way ANOVA was employed to analyse the data. All MPs had experienced trolling and many were trolled multiple times a day, and the principle platforms for this abuse were Twitter and Facebook. The pattern of trolling varied between male and female targets, with males reporting more concern about reputational damage, and females more concern about their personal safety. The impact of being trolled varied between males and females, with a much greater impact on female MPs. We discuss the effects of online trolling on the victims of this behaviour.

Introduction

Online abuse – commonly known as “trolling” – is an interpersonal, antisocial behaviour prominent within Internet culture across the world, a form of online bullying and harassment (Pew Research Centre, 2014). Common online abusive behaviour includes starting aggressive arguments on Internet sites (Klempka & Stamson, 2013) and posting inflammatory, malicious messages in online comment sections deliberately to provoke, disrupt, and upset others (Gammon, 2014). Online social media abuse (OSMA) is a relatively new phenomenon, concerning as it does recent developments in online technologies, and it is not surprising that there is a relatively limited pool of published academic research into the phenomenon. However, there is an assumption that online abuse via social media is widespread and growing, in line with the expansion of social media. Traditional research on online bullying/cyberbullying has been carried out in adolescents and college students (e.g. Mason, 2008 Shariff, 2008, 2009;). This type of bullying is mainly in the form of text messages, chatrooms and e-mails. These studies conclude that the victims are often females (e.g. Noret and Rivers, 2006) or from minority racial groups e.g. (Li, 2006) or minority groups such as LGBT (e.g. Blumenfeld & Cooper, 2010).

While high growth firms (HGFs) are crucial drivers of economic growth, to date there has been a dearth of research examining their funding requirements. Drawing on a survey of over 8000 UK Small and Medium Sized Enterprises (SMEs), this paper investigates the capital structure and access to credit in high growth SMEs in the period following the global financial crisis. The findings challenge conventional wisdom about high growth SMEs in certain respects. They find it no harder than non-high growth SMEs to access external finance. The vast majority of high growth SMEs rely strongly on debt-based finance for their funding, not equity finance. High growth SMEs are much less likely to seek finance for working capital purposes but are no more likely to seek finance to invest in R&D than less rapidly growing SMEs. The findings suggest little justification for government intervention aimed at increasing credit availability for HGFs as currently espoused by the UK government.

Introduction

This paper investigates the capital structure and access to credit in UK high growth small and medium-sized enterprises (SMEs) in the period following the global financial crisis. Firms achieving rapid growth in employment or turnover are vital for innovation and economic growth (Mason & Brown, 2013; Shane, 2010). Research interest in so-called high growth firms (HGFs) stems from the pioneering work by David Birch (1981). From a policy perspective the key attraction of these firms is unquestionably their prodigious ability to generate ‘jobs’ (Henrekson & Johansson, 2010; Nightingale & Coad, 2013). Consequently, organisations like the US Small Business Administration, the EU, World Bank and OECD have all been instrumental in propagating the importance of these dynamic small firms within enterprise policy frameworks (Brown, Mawson, & Mason, 2017; McKenzie, 2017; Welter, Baker, Audretsch, & Gartner, 2017). While the literature examining the traits and characteristics of HGFs has expanded considerably in recent years (Demir, Wennberg, & McKelvie, 2017; Henrekson & Johansson, 2010), research has largely overlooked their growth obstacles (Lee, 2014). Finance is an important enabler of rapid firm growth in SMEs (Dobbs & Hamilton, 2007), allowing firms to invest in physical and human capital, develop new products/processes and reach new markets.

Introduction

Market and nonmarket strategy, capabilities and turbulence

Hypotheses development

Methods

Findings

Discussion

Conclusions and future directions

References

Abstract

Purpose – The purpose of this paper is to investigate the influence of internal capabilities and environmental turbulence on market (e.g. cost leadership and differentiation) and nonmarket (e.g. political and social) strategies (NMS), and considers how these strategies impact financial and non-financial performance in firms in the United Kingdom.
Design/methodology/approach – A survey was administered online to 215 practicing managers in the UK. Measures for competitive strategy (i.e. cost leadership and differentiation), NMS, strategic capabilities, market turbulence and firm performance were adopted from or based on previous work. Hypotheses were tested via SmartPLS.
Findings – Findings underscore the impact of market turbulence across all market and nonmarket strategy dimensions. Multiple links between capabilities and strategies were identified. Both cost leadership and differentiation were significantly linked to non-financial performance, but only differentiation was significantly linked to financial performance. An increased emphasis on social NMS was linked to higher financial performance, but not non-financial performance. Political NMS was linked to neither financial nor non-financial performance.
Research limitations/implications – The sample included managers in multiple industries. Self-typing scales were utilized to measure market turbulence, emphasis on capabilities, strategic emphasis and firm performance.
Practical implications – Emphasis on social NMS can promote financial performance, but political NMS does not appear to drive either financial or non-financial performance.
Originality/value – This paper provides empirical support for a UK-based model linking market turbulence, strategic capabilities, market and nonmarket strategies, and both social and firm performance. It supports NMS as a key performance driver, but with caveats.

Introduction

Traditional thinking on strategy and firm performance is informed by a strong market orientation. Although nonmarket strategy (NMS) is not new, its deployment in both political and social dimensions has become more common in recent years (Bach and Allen, 2010; Buli, 2017; Mellahi et al., 2016; Parnell and Brady, 2018). Whereas market activity concentrates on improving organizational performance through market-oriented mechanisms such as advertising or product design, NMS includes patterns of organizational activity that seek to improve performance by managing the institutional or societal context of competition (Lux et al., 2012; Lux et al., 2011). The complexity of the NMS-performance link has prompted a greater focus on underlying mechanisms that appear to influence how NMS drives performance, its influence on consumer perceptions of the firm (Luo and Bhattacharya, 2006), access to financial resources (Madsen and Rodgers, 2015), and preferential access to political resources (Frynas et al., 2006). Global complexity and the lack of multilaterally accepted norms, processes and rules render cross-border NMS impractical and ineffective. As a result, a need for nation-specific assessment of nonmarket activity is germane (Kobrin, 2015).

1- Introduction

2- Methods

3- Analysis

4- Results

5- Discussion

6-Conclusion

References

Abstract

Introduction: There is mixed evidence regarding the associations between self-esteem and smoking and excessive alcohol consumption. This study aimed to investigate whether self-esteem is associated with smoking status and alcohol consumption in a large sample of adults in the United Kingdom after adjusting for age, sex, socioeconomic status and depressed mood.
Methods:
Design: Cross-sectional correlational study conducted under the aegis of the British Broadcasting Corporation (BBC) between 2009 and 2013.
Participants: 187,398 respondents (67.9% female) with a mean age of 32.82 years (SD = 12.41) providing complete data.
Setting: UK.
Measures: Online self-report questionnaire. The outcomes were smoking status (current smoker, ever smoker) and alcohol consumption (current drinker, excessive drinker); the input variable was self-esteem measured using a Single Item Self-Esteem Scale; covariates were age, sex, SES, and depressed mood measured using a single item question.
Results: The odds of being an ever smoker and a current smoker were greater in people with lower self-esteem (AdjOR 0.97; 95% CI 0.95–0.99, Cohen’s d= −0.02; and AdjOR 0.96; 95% CI 0.94–0.99, Cohen’s d= −0.02 respectively). The odds of being a current drinker were lower in people with lower self-esteem (AdjOR 1.20, 95% CI 1.17–1.24, Cohen’s d = 0.10) while being an excessive drinker was associated with lower self-esteem (β = −0.13, p < 0.001, F(5, 187392) = 997.14, p < 0.001, Cohen’s d = 0.3).
Conclusions: Lower self-esteem appears to be positively associated with ever- and current smoking and excessive alcohol consumption and negatively associated with current alcohol consumption.

Introduction

Smoking and excessive alcohol consumption are major public health concerns and are prevalent in the UK. Globally, around one in seven adults are daily smokers and one in five adults consumes alcohol excessively at least once a month (Peacock et al., 2018). In 2017, 16.8% of the adult population in the UK smoked daily regularly (Office for National Statistics, 2018b) and the prevalence of excessive alcohol consumption, measured as alcohol consumption exceeding 12 (for men)/9 (for women) units of alcohol on their heaviest day in the previous week, was 15% (Office for National Statistics, 2018a). The combination of smoking and alcohol consumption have a greater impact on the disease burden than either behaviour alone (Peacock et al., 2018) and beyond health consequences, bring significant social and economic losses to public health, such as ill-health related costs. Furthermore, in 2017, excessive alcohol consumption was more than twice as common among smokers (17%) than in never smokers (6%) or non-smokers (7%) in the UK (Office for National Statistics, 2018a). Hence it is not surprising that there is a need to identify factors that predict smoking and excessive alcohol consumption to help implement further efforts for smoking cessation and alcohol reduction.

Introduction

Both the UK and Germany have the declared goal to cut carbon emissions by 80% by 2050 compared to 1990 levels, which requires near-total decarbonisation of the electricity sector. While nuclear and carbon capture and storage (CCS) are plausible low carbon alternatives in the UK, public and political opinion limit Germany’s options to renewable energy sources (RES). Renewable generation has grown dramatically in both countries. Since 2015 29% of Germany’s electricity was renewable, as was 24.5% of Britain’s [1,2]. The German government aims to source at least 50% of electricity from RES by 2030 [3], and similarly a 45–55% share is needed to meet the UK’s Carbon Budget for 2030 [4]. The EU targets at least 27% RES share in total final energy consumption by 2030 [5], which studies suggest would correspond to an electricity share of around 45–55% depending on modelling assumptions [6–8]. The majority of new RES will come from wind and solar [9], since alternatives like hydro and bioenergy are constrained by limited resource and higher cost. Wind and solar are variable renewable energy (VRE) sources: their output depends on weather conditions and so can be forecasted but not fully controlled as can thermal plant. To offset deviations between forecast and actual wind and solar output reserves must be held and operated [10]. VRE capacity has grown significantly in recent years. Combined wind (onshore and offshore) and solar capacity in the UK1 grew from 5.46 GW in 2010 to 27.25 GW at the end of 2016 [1], while capacity in Germany increased from 44.84 GW to 90.81 GW [11]. Fig. 1 shows the rise in capacity and penetration. The cost of wind and solar has declined substantially in the last decade, such that the levelised cost of electricity (LCOE) for onshore wind and large solar is now lower than gas and nuclear [12–14]. However, LCOE does not tell the whole story: To accommodate VRE output while enforcing high standards for security of supply, costs are incurred in other parts of the system, mainly for holding and operating reserve and back up plants to manage variability and uncertainty of VRE output. These are so-called system integration costs. Several studies conclude that electricity systems with high shares of renewable energy (up to 100%) are feasible in industrialised economies without a reduction of security of supply standards [15–17]. Grids have maintained or even increased their reliability during significant increase of VRE penetration (the ‘System Average Interruption Duration Index’ in Germany went from 18.67 min in 2006 to 10.45 min in 2015) [18,19]. However, decarbonising the electricity sector must be conducted cost-efficiently and would lose public acceptance if it led to a substantial increase of power prices for industry, businesses and residents. Numerous studies exist on integration costs, mostly based on modelling (e.g. [20–23]). These concur that increasing VRE penetration will lead to increased system operation costs, which could hinder the political feasibility of highly or completely renewable electricity systems. However, the already significant penetration of VRE in Britain and Germany offer an opportunity to study the impacts that VRE integration is actually having on two major industrialised economies based on real market data.

چکیده

اخیرا تلاشهایی در جهت افزایش گزارشگری سرمایه انسانی در انگلستان از طریق معرفی قوانین دولتی و ابتکارات دیگر، وجود داشته است. این مقاله وضع فعلی گزارشگری سرمایه انسانی در انگلستان را توسط تحلیل گزارشات سالانه ی بورس اوراق بهادار تایمز مالی 100 شرکت ، قبل و بعد از اصلاحات مربوط به قوانین شرکتها 2006، بررسی میکند. این نتایج نشان میدهد که اکثر شرکتهای تحلیل شده، گزارشگری سرمایه انسانی شان را افزایش داده اند و فراتر از وظایف قانونی شان رفته و به دور از افشای سرمایه فکری گسترده تر بیشتر بر مسائل سرمایه انسانی تمرکز میکنند. با این حال، این تغییرات جهانی نبودند.

مقدمه

میتوان گفت که یکی از نقشهای اساسی یک حسابدار، ثبت، اندازه گیری و گزارش دارایی های یک شرکت است، ولی در محیط آشفته و به طور فزاینده پیچیده، بسیاری از سازمانها اهمیت با ارزش ترین دارایی شان یعنی سرمایه انسانی را نمیدانند. ارزش بازار سازمانهای پیشتاز برای چندین دهه بسیار بالاتر از ارزش دارایی-های فیزیکی شان بوده است و این منجر به تقاضا برای سرمایه انسانی، همراه با سایر اقلام نامشهود و گنجانده شدن در ترازنامه شد تا تصویر دقیق تری از ارزش سازمانی را ارائه دهد.( به تارامن، بین زینی سئریا و ساروانان 2002 نگاهی بیاندازید.)

Recently, there have been attempts at increasing human capital (HC) reporting in the United Kingdom (UK) through the introduction of government legislation and other initiatives. This paper assesses the current state of HC reporting in the UK by analysing the annual reports of the Financial Times Stock Exchange 100 companies before and after relevant amendments to the Companies Act 2006. The findings show that most of the companies analysed have been increasing their HC reporting, going beyond their statutory duties and moving away from wider intellectual capital disclosures to focus more on HC issues. However, these changes were not universal.

Introduction

It could be argued that one of the fundamental roles of an accountant is to record, measure and report a company’s assets, but in an increasingly complex and turbulent environment many organisations do not know the value of their most valuable asset, human capital (HC). The market value of leading organisations has for several decades been far higher than the value of their physical assets and this has led to calls for HC, along with other intangible items, to be included on balance sheets to give a more accurate impression of organisational value (Seetharaman, Bin Zaini Sooria, & Saravanan, 2002). HC is a subset of intellectual capital (IC), and includes the stock of attributes that employees provide, such as skills, knowledge, experience, commitment and leadership, in exchange for wages and salaries (Roslender, Stevenson, & Kahn, 2012). Given the above, at a strategic level, it is clear that understanding and leveraging HC effectively includes focussing on the aforementioned attributes that were previously referred to as human resources. Ultimately, finding an effective way to record and report HC issues will help firms identify critical sources of value, which in turn should allow them to better manage their HC effectively to gain competitive advantage (Abhayawansa & Abeysekera, 2008; Hatch & Dyer, 2004; Ployhart, Nyberg, Reilly, & Maltarich, 2014; Russ, 2014).

1- Introduction

2- Massification and the shift in demand for academic labour

3- Disequilibrium between supply and demand: evidence of academic labour shortages

4- Research assessment: impact on faculty backgrounds and supply

5- International mobility and competition

6- Strategic responses to academic labour shortages

7- Consequences of both academic labour shortages and the emerging response strategies for the accounting and finance academy

References

Abstract

This paper contributes to the literature on change in the higher education sector arising from massification, increased political control, international mobility and competition. Drawing on various data sources and labour shortage models, it considers academic labour in UK accounting and finance academia over the period 2000 to 2012. A disequilibrium between supply and demand is evidenced through the identification of recruitment problems, unfilled vacancies, and retirements. The impact of research assessment on faculty backgrounds is shown to result in inadequate supply of faculty with the required skills. Strategic responses to labour shortages include: increased recruitment efforts, early promotions, enhanced remuneration and reducing restrictions on occupational entry. The consequences and future implications of shortages and strategies are considered. In particular, the decoupling of research and teaching in accounting is challenging the future existence of accounting as an academic discipline. The current generation of accounting academics is also under threat – if they neither excel at research nor are professionally-qualified they risk becoming undesirable.

Introduction

Higher Education is increasingly viewed as a commodity purchased and sold in a global market place (Altbach, 2001), operating as a commercial business. Of the many challenges facing the modern global university, the most critical may prove to be the competition for intellectual labour (Altbach et al., 2012; Wildavsky, 2010; Olson, 2013, ch.5). In the UK, the demand, supply, and nature of academic labour has been influenced over time by factors such as massification, increased political control (Gibney, 2013) and international mobility and competition. As in many other countries, the academic profession is an ageing profession in the UK, with the proportion aged over 50 in England having risen from 34% to 41% in the last ten years (Locke and Bennion, 2013). Further, individuals replacing retiring faculty members must ideally demonstrate a wider array of talents and productivity than their predecessors (Austin, 2002). Consequently, academic labour shortages across many disciplines in UK higher education institutions (HEIs) are evident. Under recent Home Office visa proposals, PhD-level occupations with domestic shortages, including research and higher education teaching positions, were given priority (Jump, 2011). Institutions in the UK are becoming increasingly reliant on international recruitment (Wildavsky, 2010; Locke and Bennion, 2013).