By George A. Luffman, Richard Reed
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Extra info for The Strategy and Performance of British Industry, 1970–80
This rate of growth is much smaller than our major economic competitors; thus UK businessmen are at a major disadvantage judged on this criterion. Prior to 1973 double-digit inflation was a phenomenon of pre-war Germany and South American and Latin American countries. However, in the decade 1970--80 there was a rapid increase in the rate of inflation in the UK such that by December 1980 the£ was only worth 31 per cent of its December 1970 value. Other major Western economies also experienced an increase in the rate of inflation, but it did not rise to the same level as in the UK.
Oxford: Basil Blackwell, 1980). 5 The Herfindahl Index was originally developed by 0. C. Herfindahl as a measure of concentration for the US Steel Industry. For further discussion on its use see C. H. , 1974) p. 62. 6 P. K. Gorecki, 'The Measurement of Enterprise Diversification', Review of Economics and Statistics, vol. 56, no. 3 (August 1974) pp. 399-401. 7 M. A. Adelman, 'Comment on the "H" Concentration Measure as a Numbers Equivalent', Review of Economics and Statistics, vol. 51, no. 1 (February 1969) pp.
Before leaving the review of the breakdown by industry it is worth noting that only forty companies (8 per cent of the sample) changed industry category over the period and that for most of these companies it represented a change of emphasis rather than a radical change; that is, a product group in which the company was already operating grew to become the largest single product group. 5 GENERAL CHARACTERISTICS OF PERFORMANCE In recent years there has been some acknowledgement that the use of different dependent variables may result in different conclusions being drawn from apparently similar research.
The Strategy and Performance of British Industry, 1970–80 by George A. Luffman, Richard Reed