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This paper considers the impact of the recent minimum funding legislation on UK Pension Funds and how this may change the way in which property investment is regarded. The principles of investment diversification are re‐examined in the light of the MFR “matching” asset classes and the historic relationships between UK property and other asset classes are considered in some detail. Finally, the traditional “peer” approach to strategy adopted by many UK Pension Funds is critically examined to determine its continuing validity in the new minimum funding environment. These results are then extended to see what types of fund may find it appropriate to increase their property weightings.

This paper examines the effect of improvisational behavior of entrepreneurs on firm performance of small and medium enterprises (SMEs) in Thailand during the economic crisis following the COVID-19 pandemic. The study also explores external factors in terms of competitive intensity and internal factors in terms of financial and human resources possessed by firms that could enhance the impact of improvisational behavior on firm performance.

A self-administered online questionnaire survey was used to collect the data from the random sample of 312 SMEs in Thailand. Partial least squares structural equation modeling was used to analyze the data.

The analysis supports the positive relationship between the improvisational behavior of entrepreneurs and firm performance. Moreover, the moderating effect analysis shows that the positive impact of improvisational behavior on firm performance tends to be stronger for firms that encountered a higher level of competitive intensity and for firms that possessed a higher level of financial and human resources.

This research extends the knowledge from prior research by confirming some moderating factors that could strengthen the benefit of improvisational behavior during the crisis.

In the previous monograph, a discussion took place on what constitutes dismissal and when the termination of the contract of employment takes effect. These two aspects treat the first of the statutory qualifications necessary to enable the employee to exercise his right not to be unfairly dismissed, namely that he must first be dismissed.

The purpose of this paper is to address the variation of efficiency of local office markets. It has long been argued that as data in the property market are based on valuations, it has a tendency toward smoothing or stickiness. The accuracy of valuations is shown to be partially dependent on local variable factors such as the extent of information, the variability of local cycles and the heterogeneity of the stock. This paper assesses the efficiency of local office markets in nine cities of the UK by estimating unsmoothed annual time series of rents and returns and comparing with the original valuations.

The paper uses an econometric approach to identify true unobserved returns from observed smoothed data. It uses desmoothing techniques and compares the volatility of smoothed and desmoothed underlying returns. It then looks for autocorrelation over time in the errors where the presence of autocorrelation rejects the assumption of market efficiency.

Examining, regional city office markets, the results suggest that financial centres have the least efficient markets because of their high level of variability. Other provincial cities are characterised by weak‐form efficiency. Market cyclicality is found to be a key factor affecting valuation accuracy.

Research in regional markets is often constrained by shortness and low frequency of time series observations. This limits the analysis and the ways in which it could be developed. Issues also relate to the method of desmoothing adopted.

Key financial centre are found to be less efficient markets than other cities. Thus, price changes fully embody all previous information in regional centres but not in London or Edinburgh. Periods of significant cyclical volatility tend to cause valuation inaccuracy and pricing problems.

There are spillovers from inefficiencies in property market pricing that can affect other sectors of society directly (through increased costs) or indirectly (by contributing to macroeconomic cyclicality).

This is the first paper to explicitly consider the efficiency of regional city office markets and to identify the true unobserved returns series in each city office market. Its findings, perhaps unexpectedly, suggest that most regional city office markets are more efficient at processing pricing information than London.

At the Royal Society of Health annual conference, no less a person than the editor of the B.M.A.'s “Family Doctor” publications, speaking of the failure of the anti‐smoking campaign, said we “had to accept that health education did not work”; viewing the difficulties in food hygiene, there are many enthusiasts in public health who must be thinking the same thing. Dr Trevor Weston said people read and believed what the health educationists propounded, but this did not make them change their behaviour. In the early days of its conception, too much was undoubtedly expected from health education. It was one of those plans and schemes, part of the bright, new world which emerged in the heady period which followed the carnage of the Great War; perhaps one form of expressing relief that at long last it was all over. It was a time for rebuilding—housing, nutritional and living standards; as the politicians of the day were saying, you cannot build democracy—hadn't the world just been made “safe for democracy?”—on an empty belly and life in a hovel. People knew little or nothing about health or how to safeguard it; health education seemed right and proper at this time. There were few such conceptions in France which had suffered appalling losses; the poilu who had survived wanted only to return to his fields and womenfolk, satisfied that Marianne would take revenge and exact massive retribution from the Boche!

The paper aims to explain why and how, in the USA, a very particular interpretation of economic liberalism, faring though different historical contexts, has generated, since the 1970s, a new kind of capitalism whose language, logic, legitimating paradigm and associated practices have become, thanks to “organic intellectuals” and active networks of power and influence, the “newspeak” and compass of chief executive officers from around the world, despite their always direst societal consequences.

Using history as a support to investigate the domestic and international relations contexts that bore financialized globalization, the paper is strongly located into political sociology. As such, and if we consider that political sociology is the “science of power”, the paper tries to identify precisely the networks of power and influence which transformed a specific interpretation of liberalism and business into a dominant paradigm and specific kind of capitalism, in the USA and the rest of the world. The approach helps to understand which sets of ideas and authors were deemed worth supporting by business and political networks of power and influence and how both sides drew on their reciprocal resources to transform their cosmogonies into dominant paradigms and real politics (corporate and States).

The paper provides a global but precise understanding of the complex processes that allowed some vested interests to impose their vision of economics and business on a domestic, then world, scale. It also questions the relevancy of that vision according to a presentation of the negative societal externalities the associated policies generated and according to the official investigations that have been conducted on the corporate and banking misdemeanors that it contributed to generate.

The paper illustrates a method of investigation that can be used to develop the “global view”, a prerequisite to making decisions in full knowledge of causes and consequences and thus a means to train future “globally responsible leaders”.

By revealing the hidden interests behind financialized globalization and the societal consequences of their power plays, the paper indirectly demonstrates the urgent need for an “alter‐economy” geared to meet the fundamental needs of societies and to preserve their natural environment in the long term.

The paper offers a different perspective on economics and business which is seldom presented in business schools where, owing to the discussed dominant ideology, politics is considered irrelevant to understand business and economics and where the latter are nearly always presented as vectors of good.

The purpose of this paper is to examine the affordability of private tertiary education for households in Malaysia.

The relevant literature is reviewed to provide an overview of the affordability of private tertiary education. Data are obtained randomly from a private university in Malaysia and the results are analyzed using the one‐sample t‐test and one‐way ANOVA.

The proxy of affordability, which is the average household income, reveals the per capita average is more than three times the national average, which points out the non‐affordability of students from low and average earning households to afford private tertiary education in Malaysia. Financial assistance of students at the tertiary level is insufficient and may warrant further policy and administrative improvements to reach deserving students. There is also difference in income and hence affordability between urban‐rural households, a perspective that demands changes in the current income distribution policies. In order to address the issues highlighted in this study, salient suggestions have been proposed.

This paper reinforces the need to address the issue of affordability of tertiary education and its significant importance, especially to developing countries.

Using the backdrop of an (apparently) extended visit to the West Indies, analogies with key concerns of internal audit are drawn. An unusual and refreshing way of exploring the main themes ‐ a discussion between Bill and Jack on tour in the islands ‐ forms the debate. Explores the concepts of control, necessary procedures, fraud and corruption, supporting systems, creativity and chaos, and building a corporate control facility.

Using the backdrop of an (apparently) extended visit to the West Indies, analogies with key concerns of internal audit are drawn. An unusual and refreshing way of exploring the main themes ‐ a discussion between Bill and Jack on tour in the islands ‐ forms the debate. Explores the concepts of control, necessary procedures, fraud and corruption, supporting systems, creativity and chaos, and building a corporate control facility.