Nick Wilson

Definition, assessment and treatment of wheezing disorders in preschool children: an evidence-based approach

There is poor agreement on definitions of different phenotypes of preschool wheezing disorders. The present Task Force proposes to use the terms episodic (viral) wheeze to describe children who wheeze intermittently and are well between episodes, and multiple-trigger wheeze for children who wheeze both during and outside discrete episodes. Investigations are only needed when in doubt about the diagnosis. Based on the limited evidence available, inhaled short-acting β2-agonists by metered-dose inhaler/spacer combination are recommended for symptomatic relief. Educating parents regarding causative factors and treatment is useful. Exposure to tobacco smoke should be avoided; allergen avoidance may be considered when sensitisation has been established. Maintenance treatment with inhaled corticosteroids is recommended for multiple-trigger wheeze; benefits are often small. Montelukast is recommended for the treatment of episodic (viral) wheeze and can be started when symptoms of a viral cold develop. Given the large overlap in phenotypes, and the fact that patients can move from one phenotype to another, inhaled corticosteroids and montelukast may be considered on a trial basis in almost any preschool child with recurrent wheeze, but should be discontinued if there is no clear clinical benefit. Large well-designed randomised controlled trials with clear descriptions of patients are needed to improve the present recommendations on the treatment of these common syndromes.

Small business start-ups: success factors and support implications

This empirical study investigates the characteristics of a cohort of 166 small businesses which were set up during a period of recession by founders, all of whom had experienced a period of unemployment prior to start‐up. These new ventures were appraised and supported by their local Training & Enterprise Council (TEC) prior to start‐up and in their formative months. This paper analyses the appropriateness and success of support services in the light of an empirical investigation of the factors which appear to impact on survival/failure and growth prospects of surveyed businesses. Comparisons are made between those businesses which are still trading and those which have ceased trading and between businesses with high and low growth expectations. Factors which are investigated include the founders’ personal background and experience; reasons put forward for start‐up; early problems encountered in running a business; business objectives and expectations.

Do small businesses have to practise marketing to survive and grow

Addresses the relevance of marketing principles and how marketing should be practised in very small or micro firms by studying new start businesses in the West Yorkshire area. Reports qualitative research findings from in‐depth interviews with a sample of 18 small business founders using simple content analysis and case study techniques. Addresses specific topics including customers and customer focus; competitive advantage and positioning; marketing communications; marketing planning and strategy; and key issues involved in business growth and development. Concludes with a summary of how marketing is practised in small businesses, based on the research findings; an examination of marketing in different types of businesses; and recommendations on how marketing can help small businesses improve performance and achieve growth.

Disequilibrium in the UK corporate loan market

In the last decade, a debate has resurfaced about whether financial constraints stemming from asymmetric information and incentive problems play an important role in propagating monetary policy shocks. This paper investigates the monetary transmission mechanism in the UK and its impact on the availability of bank credit to small and medium size firms. The empirical specification is based on a disequilibrium model that allows for the possibility of transitory credit rationing. Sample firms are classified endogenously into ‘borrowing constrained’ and ‘borrowing unconstrained’. The analysis of credit rationing takes into account not only firm specific variables, but also important macroeconomic factors such as the prevailing monetary conditions and the stage of the business cycle. We find that (i) firms’ assets play an important role as collateral in mitigating borrowing constraints; (ii) during periods of tight monetary conditions corporate demand for bank credit increases, whereas the supply of bank loans is reduced; (iii) to avoid bank credit rationing smaller companies increase their reliance on interfirm credit; (iv) the proportion of borrowing constrained firms is significantly higher during the recession years of the early 1990s than at other times.

Family Business Survival and the Role of Boards

We explore the vexing question of whether family firms are more likely to survive than nonfamily firms, focusing on the role of board composition. Utilizing a unique data set of over 700,000 private family and nonfamily firms in the U.K. during 2007–2010, we find that family firms are significantly less likely to fail than nonfamily firms. We identify the board characteristics associated with survival/failure in all firms and determine that it is these characteristics that are important in explaining the lower failure probability of family firms. We conclude with an agenda for further research on boards and family firm survival.

Managing Creativity and Innovation: The Challenge for Cultural Entrepreneurs

Purpose To distinguish managing creativity from managing innovation and highlight the importance for cultural entrepreneurs of recognising the differences between the two. Design / methodology / approach Based on Government-sponsored research project looking at access to finance in the UK music industry. Interviews were carried out with cultural entrepreneurs, finance providers and industry experts. A conceptual model of work and creative production put forward by Leadbeater and Oakley (1999) is used as a foundation for analysis. Findings Highlight the importance of recognising the differences between managing creativity and innovation, and call for effective management of them both, through developing business communication skills, external focus and promotional strategies. The different nature and role of collective activities associated with promoting creativity and innovation are highlighted. Research limitations / implications The findings are generalised across other ‘creative industry’ businesses, but the empirical research is based only on the music industry. Practical implications Practical steps can be taken to increase the success of small creative businesses in managing both the generation of new ideas (creativity) and the successful exploitation of those new ideas (innovation). Formal education courses have an important role in encouraging creativity and flair alongside the acquisition of core business skills necessary for innovation. Originality / value This paper makes an important contribution in separating creativity and innovation – concepts that are too often used interchangeably. It is argued that this analytical separation will help practitioners and researchers gain a better understanding of the management behaviours required to foster both successfully.

Profit-Sharing and Productivity: Some Further Evidence

New estimates for West Germany indicate overall productivity differentials of 20-30 percent in favor of firms practicing profit sharing. These compare with estimates of 3-8 percent for comparable British firms reported in a recent issue. Like the U.K. results, they reveal important interactions between profit sharing and other firm-specific characteristics, reinforcing the view that profit sharing be regarded as an integral element of overall organizational design. But the fact that in Germany profit sharing is apparently used in a different way than in the United Kingdom by different kinds of firms, suggests that there is no single, uniquely appropriate context and role for profit sharing. Copyright 1990 by Royal Economic Society.

Employee Financial Participation and Productivity: An Empirical Reappraisal

Avner Ben-Ner and Derek Jones cast doubt on the notion of a simple causal link between financial participation (FP) and productivity, and consequently on the validity of much of the empirical literature that has sought to quantify this relationship. This paper is an attempt to investigate this proposition. Our empirical reappraisal revealed that the route through which employee share ownership and profit-sharing schemes achieve these gains is quite separate and more involved than either the theory or prior empirical research suggests. This is particularly evident by extending the complementarities thesis beyond purely participatory bundles to embrace firm-specific and organizational variables. Our analysis also addressed recent calls to aid the interpretation of the observed effects of FP by creating a link between the use and operation of FP and its impact on productivity.

Forecasting international tourist flows

Abstract Previous research suggests that the “no change” model is relatively accurate when annual data are used to forecast international tourism demand, whereas more complex models are relatively accurate when seasonal data are used to forecast domestic tourism demand. The difference in accuracy rankings could be due to the international versus domestic dimension of the data or the difference in data frequency. This study demonstrates that the results obtained for international tourism using annual data also hold for seasonal data, so the previously obtained difference in accuracy rankings appears to be attributable to the use of international as opposed to domestic tourism demand data.

An Empirical Investigation of Trade Credit Demand

This paper investigates the motivations for a firms demand for trade credit. Demand for credit is modelled as a function of transaction costs motivations, financing motivations, operational considerations, seller compliance issues and supplier marketing, whilst controlling for the firms business environment and for firm characteristics such as size and industry. This paper builds on previous studies by considering a wider range of factors that can affect trade credit demand holistically on a single sample. It appears that the use of trade credit is widespread, and that it is generally perceived as an important short term financing option, although the availability of trade credit is not a major influence on supplier choice. The level of a firms trade credit demand is found to be significantly influenced by transaction costs, financing, operational issues, marketing activities by suppliers, the firms investment in trade debtors and firm size.