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Quality Specifications are a key component of NHS contracts between district health authorities and hospitals/services providing care. The perspective and methods of the Essex Quality Assurance Working Group are described, with emphasis on development of a framework within contracts to achieve high quality, appropriate, cost‐effective and consumer‐sensitive services. The objectives, structure and content of a range of quality specifications for services are discussed.

Rainy day stabilization funds (RDSFs) and local option sales taxes (LOSTs) are two strategies local governments deploy to combat fiscal stress. While the literature on both is robust, it has thus far failed to consider empirically that the two may be connected. One way the marginal LOST dollar could be spent is by saving it for future use. We test the connection with a sample of 414 counties and correct for selection bias with the Heckman correction technique. We find that each $10 increase in LOST revenue per capita is associated with a $0.10 increase in undesignated general fund balance. Though small, the positive effect size supports the theory that LOSTs contribute to a greater propensity to save.

This study employs a multivariate GARCH model to investigate the relative sensitivities of the first and the second moment of bank stock return distribution to the short‐term and long‐term interest rates and their respective volatilities. Three portfolios are formed representing the money center banks, large banks, and small banks, respectively. Estimation and testing of hypotheses are carried out for each of the three portfolios separately. The sample includes daily data over the 1988‐2000 period. Several hypotheses are tested within the multivariate GARCH specification. These include the hypotheses of: (i) insensitivity of bank stock return to the changes in the short‐term and long‐term interest rates, (ii) insensitivity of bank stock returns to the changes in the volatilities of short‐term and long‐term interest rates, and (iii) insensitivity of bank stock return volatility to the changes in the short‐term and long‐term interest rate volatilities. The findings indicate that short‐term and long‐term interest rates and their volatilities do exert significant and differential impacts on the return generation process of the three bank portfolios. The magnitudes and the direction of the effect are model‐specific namely that they depend on whether the short‐term or the long‐term interest rate level is included in the mean return equation. These findings have implications on bank hedging strategies against the interest rate risk, regulatory decisions concerning risk‐based capital requirement, and investor’s choice of a portfolio mix.

This paper aims to explore the role of multi-national enterprises in addressing grand societal challenges, emphasising the need for integrating environmental and social aspects into business models. Drawing on the books of Geoffrey Jones (2023) “Deeply Responsible Business” and Rob van Tulder and Eveline van Mil (2023) “Principles of Sustainable Business”, the paper provides comments and analysis of how principles and values can guide engaged international business (IB) scholarship and responsible leadership to effectuate meaningful change.

The paper adopts a dialogical review, as a curated discussion of the books whereby the authors attempt to co-construct a research and teaching agenda for responsible and engaged IB scholarship.

The paper highlights the critical importance of aligning business strategies with societal needs. Companies that adopt ethical principles, or adopt the sustainable development goals (SDGs) via principles-based frameworks, can achieve significant positive impacts.

The paper follows a viewpoint/perspective format. It relies on underpinning historical case studies and selected theoretical frameworks, which may not capture the full complexity of contemporary business environments. Scholars should conduct future research to study the underpinning principles and frameworks deployed in various industries and regions.

The paper suggests that business leaders should learn from the past to adopt a values and principles-based approach to integrate sustainability into their core strategies. It also highlights the importance of transforming the higher education teaching experience towards a value and principles-based one.

This paper underscores the potential of businesses to drive positive societal change by addressing environmental and social challenges. By adopting ethics-based value systems and aligning organisations with the SDGs, companies can help mitigate pressing issues, such as poverty, inequality and climate change. The authors suggest reading “Deeply responsible business” and “Principles of Sustainable Business” to influence public attitudes towards corporate social responsibility and foster a more sustainable and equitable global economy.

The paper offers a curated discussion and synthesis of historical and contemporary perspectives on sustainable business practices. It bridges the gap between theory and practice by providing actionable frameworks and tools for business leaders and scholars.

THE Reference Department of Paisley Central Library today occupies the room which was the original Public Library built in 1870 and opened to the public in April 1871. Since that date two extensions to the building have taken place. The first, in 1882, provided a separate room for both Reference and Lending libraries; the second, opened in 1938, provided a new Children's Department. Together with the original cost of the building, these extensions were entirely financed by Sir Peter Coats, James Coats of Auchendrane and Daniel Coats respectively. The people of Paisley indeed owe much to this one family, whose generosity was great. They not only provided the capital required but continued to donate many useful and often extremely valuable works of reference over the many years that followed. In 1975 Paisley Library was incorporated in the new Renfrew District library service.

THERE is no doubt that a lot of literary rubbish is current under the name of children's books; there always was; but it has become rather more apparent in recent times. Mr. McColvin, in a useful article in The Library Review, presents a nostalgic sigh for the days of Henty and Fenn and even of the earlier Ballantyne and upon that builds a somewhat severe criticism of the modern children's library. As so often with writers on this theme, he uses no half‐tones and points a rather dismal scene in primary black and white, and his moral is that it would be better to be without these libraries than that they should supply ill‐written, badly devised and quite useless slush which makes no demands upon the child. If this were a complete picture we should agree. It is not; in the first place, it is based mainly on fiction, a very incomplete view of children's books. But, even considering fiction only, while such writers as Noel Streatfeild, Elizabeth Goudge, Arthur Ransome and David Severn (and a dozen others come to the pen) are supplying us with books, it cannot be wholly true. Then, as one of our correspondents implies elsewhere in these pages, children are of many ages and stages, and it is not wrong to give little ones simple things. It is vain to long for the return of the days when the Pilgrim's Progress, Foxe's Martyrs and the Dore editions of Paradise Lost and the Cary translation of Dante's Inferno adorned, and required dusting weekly, on every parlour table, and to many subsequent readers Ballantyne, except for Coral Island, is as dead as the Pharaohs. We do thank Mr. McColvin, however, for bringing children's librarians to that state of vexed irritation which will induce them to reconsider their work, increase their standards and recall the commonplace that their almost entire purpose is to produce intelligent adult readers. The T.L.S., in an appreciation of Mr. McColvin's article, suggests that the influence of the children's librarian can be even greater in this direction than the teacher's, but, if what he asserts is true, through our libraries many children may be deprived of the intellectual capacity to read anything worth while. Does Mr. McColvin really believe that?

Reviews the development of the corporate social responsibility (CSR) concept and its four components: economic, legal, ethical and altruistic duties. Discusses different perspectives on the proper role of business in society, from profit making to community service provider. Suggests that much of the confusion and controversy over CSR stem from a failure to distinguish among ethical, altruistic and strategic forms of CSR. On the basis of a thorough examination of the arguments for and against altruistic CSR, concurs with Milton Friedman that altruistic CSR is not a legitimate role of business. Proposes that ethical CSR, grounded in the concept of ethical duties and responsibilities, is mandatory. Concludes that strategic CSR is good for business and society. Advises that marketing take a lead role in strategic CSR activities. Notes difficulties in CSR practice and offers suggestions for marketers in planning for strategic CSR and for academic researchers in further clarifying the boundaries of strategic CSR.

The Equal Pay Act 1970 (which came into operation on 29 December 1975) provides for an “equality clause” to be written into all contracts of employment. S.1(2) (a) of the 1970 Act (which has been amended by the Sex Discrimination Act 1975) provides: