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Article
Publication date: 1 March 1988

R.N. LAY FRICS

Traditional methods of portfolio valuation have been criticised for their inability to adapt sufficiently in an increasingly complex market, providing, according to the…

Abstract

Traditional methods of portfolio valuation have been criticised for their inability to adapt sufficiently in an increasingly complex market, providing, according to the critics, simplistic and inaccurate analysis for the client. This paper, while accepting the need to adopt more rigorous valuation techniques in certain areas, argues that new techniques alone will not produce better answers. When adopting an increasingly data‐rich quantitative approach, the valuation is only as good as the information to which the valuer has access. Where information is historic, lacking or distanced from the market, the resulting valuation may be meaningless. Only by being close to the marketplace can the valuer accurately reflect market fluctuations in the valuation and thus provide accurate and precise advice for the client.

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Journal of Valuation, vol. 6 no. 3
Type: Research Article
ISSN: 0263-7480

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Article
Publication date: 1 June 1972

First January 1973 will not only mark the beginning of a New Year but a year which history will mark as a truly momentous one, for this is the year that Britain, after…

Abstract

First January 1973 will not only mark the beginning of a New Year but a year which history will mark as a truly momentous one, for this is the year that Britain, after centuries of absence, re‐enters the framework of Europe as one of the Member‐States of the enlarged European Community. This in itself must make for change on both sides; Britain is so different in outlook from the others, something they too realize and see as an acquisition of strength. There have been other and more limited forms of Continental union, mainly of sovereignty and royal descent. Large regions of France were for centuries under the English Crown and long after they were finally lost, the fleur de lis stayed on the royal coat of arms, until the Treaty of Amiens 1802, when Britain retired behind her sea curtain. The other Continental union was, of course, with Hanover; from here the Germanized descendants of the Stuarts on the female line returned to the throne of their ancestors. This union lasted until 1832 when rules of descent prevented a woman from reigning in Hanover. It is interesting to speculate how different history might have been if only the British Crown and the profits of Tudor and Stuart rule had been maintained in one part of central Europe. However, Britain disentangled herself and built up overwhelming sea power against a largely hostile Europe, of which it was never conceived she could ever be a part, but the wheel of chance turns half‐circle and now, this New Year, she enters into and is bound to a European Community by the Treaty of Rome with ties far stronger, the product of new politico‐economic structures evolved from necessity; in a union which cannot fail to change the whole course of history, especially for this country.

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British Food Journal, vol. 74 no. 6
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 May 1974

The growing range of EEC Directives and Regulations for food products, some of which have never been subject to statutory control in this country, with compositional…

Abstract

The growing range of EEC Directives and Regulations for food products, some of which have never been subject to statutory control in this country, with compositional standards, and in particular, prescribed methods of analysis — something which has not featured in the food legislative policies here — must be causing enforcement authorities and food processors to think seriously, if as yet not furiously. Some of the prescribed methods of analysis are likely to be less adaptable to modern processing methods of foods and as Directives seem to be requiring more routine testing, there is the matter of cost. Directive requirements are to some extent negotiable — the EEC Commission allow for regional differences, e.g., in milk and bread — but it has to be remembered that EEC Regulations bind Member‐states from the date of notification by the Commission, over‐riding the national law. Although not so frequently used for food legislation, they constitute one of the losses of sovereign power, paraded by the anti‐market lobby. Regulations contain usual clauses that they “shall enter into force on the day following publication in the Official Journal of the European Communities” and that they “shall be binding in their entirety and directly applicable in all Member States”.

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British Food Journal, vol. 76 no. 5
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 March 1973

The brief announcement that the Government had accepted that there should be regulations on open date marking of food, to come into effect in 1975, will come as no…

Abstract

The brief announcement that the Government had accepted that there should be regulations on open date marking of food, to come into effect in 1975, will come as no surprise. It is a timely reminder of what public pressure can achieve these days; how sustained advocacy and publicity by interested sectors of society—magistrates, local authorities, public health workers, consumer groups—can secure legislative changes which, in this case, run counter to trade opinions and the recommendation originally made by the Food Standards Committee that such a proposal was not practical and the existing law was an adequate protection. This was stated in the FSC Report on Food Labelling of 1964, although there was no indication of the evidence reviewed or that the subject had been considered very deeply; it was, after all, only a small fraction of the problem of food labelling control. It was also stated in this Report that in certain cases, date‐stamping of food could give to purchasers a false sense of security, “not justified by the conditions under which the food has been kept since manufacture”.

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British Food Journal, vol. 75 no. 3
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 February 1971

We are growing accustomed to shock tactics of the US Administration in dealing with toxic residues in food or additives which are a hazard to man, as well as the daily…

Abstract

We are growing accustomed to shock tactics of the US Administration in dealing with toxic residues in food or additives which are a hazard to man, as well as the daily press infusing sensation, even melodrama, into them, but the recent action of the FDA in calling in from the food market several million cans of tuna and other deep sea fish because of the presence of mercury has had the worthwhile effect of drawing world attention to the growing menace of environmental pollution. The level of mercury in the fish is immaterial; it should never have been there at all, but it stresses the importance of the food chain in the danger to man and animal life generally, including fish beneath the sea. Without underestimating risks of pollution in the atmosphere from nuclear fission products, from particulate matter carried in the air by inhalation or even skin absorption, food and drink, which includes aqua naturale would seem to be the greatest danger to life. What these recent events illustrate in a dramatic manner, however, is the extent of pollution.

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British Food Journal, vol. 73 no. 2
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 April 1973

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…

Abstract

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!

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British Food Journal, vol. 75 no. 4
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 May 1971

Earliest localism was sited on a tree or hill or ford, crossroads or whenceways, where people assembled to talk, (Sax. witan), or trade, (Sax. staple), in eggs, fowl, fish…

Abstract

Earliest localism was sited on a tree or hill or ford, crossroads or whenceways, where people assembled to talk, (Sax. witan), or trade, (Sax. staple), in eggs, fowl, fish or faggots. From such primitive beginnings many a great city has grown. Settlements and society brought changes; appointed headmen and officials, a cloak of legality, uplifted hands holding “men to witness”. Institutions tend to decay and many of these early forms passed away, but not the principle vital to the system. The parish an ecclesiastical institution, had no place until Saxons, originally heathens, became Christians and time came when Church, cottage and inn filled the lives of men, a state of localism in affairs which endured for centuries. The feudal system decayed and the vestry became the seat of local government. The novels of Thomas Hardy—and English literature boasts of no finer descriptions of life as it once was—depict this authority and the awe in which his smocked countrymen stood of “the vicar in his vestry”. The plague freed serfs and bondsmen, but events, such as the Poor Law of 1601, if anything, revived the parish as the organ of local government, but gradually secular and ecclesiastical aspects were divided and the great population explosion of the eighteenth century created necessity for subdivision of areas, which continued to serve the principle of localism however. The ballot box completed the eclipse of Church; it changed concepts of localism but not its importance in government.

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British Food Journal, vol. 73 no. 5
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 January 1974

Over the years we have reported prosecutions where the defence has alleged, and with circumstantial support that the presence of a harmful foreign body in food was…

Abstract

Over the years we have reported prosecutions where the defence has alleged, and with circumstantial support that the presence of a harmful foreign body in food was deliberate through the action of a single disgruntled employee or where the labour relations climate generally has been bad. It makes no difference to the manufacturer's responsibility—the offence is an absolute one—but occasionally courts have allowed it in mitigation. Sometimes, it has been the nature of the extraneous material, e.g. fragments of glass or metal, the like of which did not exist in the factory premises or plant. This may be taken as a symptom of the vandalism of the age, but more recently, two incidents have drawn attention to its dangers and provided a glimpse of the criminal mind which can inflict such injury on employers, and expose innocent consumers, of all ages, to possible harm.

Details

British Food Journal, vol. 76 no. 1
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 May 1972

The New Year will see Britain a member of the largest multi‐national free trade area in the world and there must be few who see it as anything less than the beginning of a…

Abstract

The New Year will see Britain a member of the largest multi‐national free trade area in the world and there must be few who see it as anything less than the beginning of a new era, in trade, its trends, customs and usages and especially in the field of labour, relations, mobility, practices. Much can be foreseen but to some extent it is all very unpredictable. Optimists see it as a vast market of 250 millions, with a lot of money in their pockets, waiting for British exports; others, not quite so sure, fear the movement of trade may well be in reverse and if the increasing number of great articulated motor trucks, heavily laden with food and other goods, now spilling from the Channel ports into the roads of Kent are an indication, the last could well be true. They come from faraway places, not all in the European Economic Community; from Yugoslavia and Budapest, cities of the Rhineland, from Amsterdam, Stuttgart, Mulhouse and Milano. Kent has had its invasions before, with the Legions of Claudius and in 1940 when the battle roared through the Kentish skies. Hitherto quiet villagers are now in revolt against the pre‐juggernaut invasion; they, too, fear more will come with the enlarged EEC, thundering through their one‐street communities.

Details

British Food Journal, vol. 74 no. 5
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 May 1983

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This…

Abstract

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of material poses problems for the researcher in management studies — and, of course, for the librarian: uncovering what has been written in any one area is not an easy task. This volume aims to help the librarian and the researcher overcome some of the immediate problems of identification of material. It is an annotated bibliography of management, drawing on the wide variety of literature produced by MCB University Press. Over the last four years, MCB University Press has produced an extensive range of books and serial publications covering most of the established and many of the developing areas of management. This volume, in conjunction with Volume I, provides a guide to all the material published so far.

Details

Management Decision, vol. 21 no. 5
Type: Research Article
ISSN: 0025-1747

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