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This paper attempts to reconcile an apparent contradiction between short‐run and long‐run movements in the price of gold. The theoretical model suggests a set of conditions under which the price of gold rises over time at the general rate of inflation and hence be an effective hedge against inflation. The model also demonstrates that short‐run changes in the gold lease rate, the real interest rate, convenience yield, default risk, the covariance of gold returns with other assets and the dollar/world exchange rate can disturb this equilibrium relationship and generate short‐run price volatility. Using monthly gold price data (1976–1999), and cointegration regression techniques, an empirical analysis confirms the central hypotheses of the theoretical model.

Assistive technology can support and enhance the learning, independence, and daily living skills of students with disabilities, including students with intellectual disability (ID). Assistive technology is not generally disability dependent; however, for students with ID we decided to focus on assistive technology across two areas: instructional aids – with a focus on reading, writing, and mathematics – and transition and independence. Throughout our focus on these two categories of assistive technology, we discuss low-tech, mid-tech, and high-tech options to support students with ID.

Our study proposes a resource environment view (REV) of competitive advantage by unpacking the environmental origins of a firm’s competitive advantage. The key tenet of the REV is that the heterogeneity and imperfect mobility of strategic factor markets and institutions across countries explain how firms based in different countries would likely both create and sustain a competitive advantage. In particular, our study introduces the notion of “the paradox of environmental embeddedness.” The paradox lies in the fact that the same environmental conditions – in terms of strategic factor markets and institutions – that enable firms to create a competitive advantage can paradoxically also create a situation in which it is more difficult for these firms to sustain an advantage. Another important aspect of our study is that, to enhance our understanding of how firms manage the paradox of environmental embeddedness, our study specifies the resource environmental conditions under which firms’ internal and external resource-oriented strategies – that is, the development of dynamic capabilities and interventions in the country resource environment – are more beneficial when managing the environmental paradox. Overall, our theorizing has important implications for strategic management theory and practice.

THE following list of contracts placed 1 y the Air Ministry during July has been extracted from the August issue of The Ministry of Labour Gazette:—

The main body of literature that has developed about educator stress indicates ours is a profession marked by high levels of distressful encounters and that educators are not faring well in this environment. The authors believe this case is over‐stated and that education, as a field, is not nearly so marked by the littered casualties of distress that the literature would have us believe exist. This conclusion is founded on both a small literature base which holds a contrary point of view, and on three studies of administrators and teachers which consistently indicate educators are much more adaptable and consequently, less stressed, than we have been led to believe. The purpose of the first study was to identify the levels of stress school principals experience on the job and to investigate the impact of perceived locus of control and powerlessness on their stress levels. The second study examined the extent to which school principals' perceived level of stress is related to their role relationship with groups internal and external to the school organization. The goals of the third study were to establish the levels of teachers' perceived stress, the organizationally‐based factors that are most stress‐inducing, and the predominant ways in which teachers manifest stress. The results of these studies, with great consistency, indicate low educator stress. These findings have important implications for the development of new approaches to stress research and for policy decisions concerning allocation of organizational resources to stress management design and staff development.

Thisissue of Aslib Proceedings is mainly devoted to papers presented at the 24th Annual Conference, held at Ashorne Hill, near Learnington Spa, Warwickshire, from 9 to 11 September, 1949. In addition, we have pleasure in printing the annual report and accounts of the British Union Catalogue of Periodicals.

This issue of Aslib Proceedings is mainly devoted to papers presented at the 24th Annual Conference, held at Ashorne Hill, near Leamington Spa, Warwickshire, from 9 to 11 September, 1949. In addition, we have pleasure in printing the annual report and accounts of the British Union Catalogue of Periodicals.

THE following list of contracts placed by the Air Ministry during October is extracted from the November issue of The Ministry of Labour Gazette:

This research seeks to understand how shareholder constituencies including controlling family, nonfamily insiders, as well as domestic and foreign institutions in the corporate governance system of emerging economy firms perceive institutional risks in terms of regulative, normative, and cognitive institutions and influence strategic choices in the internationalization of their invested firms.

The sample data are Taiwanese publicly listed companies in the electronics and computer industry. Panel data of the parent firms and their overseas affiliates are available from the annual report and Taiwan Economic Journal database. Country-level data are available from the World Investment Report and the IMD World Competitiveness Report. Statistical regression models including tobit and logistic regression are used to analyze the data.

Controlling family and nonfamily insider shareholders tend to influence their invested firms to enter in institutionally smaller host countries through a shared ownership. Domestic institutional shareholders tend to influence their invested firms to adopt a shared ownership and enter in host countries with larger and smaller institutional distances in terms of regulative and normative institution, respectively. Foreign institutional shareholders tend to influence their invested firms to enter in institutionally smaller host countries through a whole ownership.

The strategic choices of foreign market entry made by emerging economy firms are significantly shaped by the different risk perceptions of shareholder constituencies in their corporate governance system toward the institutional distances between the home and the host country.

The British North American colonies were the first western economies to rely on legislature-issued paper monies as an important internal media of exchange. This system arose piecemeal. In the absence of banks and treasuries that exchanged paper monies at face value for specie monies on demand, colonial governments experimented with other ways to anchor their paper monies to real values in the economy. These mechanisms included tax-redemption, land-backed loans, sinking funds, interest-bearing notes, and legal tender laws. I assess and explain the structure and performance of these mechanisms. This was monetary experimentation on a grand scale.