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Research within the School's Centre for Research on Globalisation and Economic Policy (GEP) on the characteristics of UK exporting and non-exporting firms has been used by the UK's trade promotion agencies, UK Trade and Investment (UKTI) and the Department of Business, Innovation and Skills (BIS) to improve the design and effectiveness of the firm-specific policies they use to increase export performance.
The research has been used to provide an evidence base against which to judge the rationale for and effectiveness of export promotion and to develop new schemes. The research has led to a better understanding of the different types of barriers to exporting faced by different types of UK firms, and the role of previous export experience in lowering these barriers. This evidence base has both informed the design of the UK's export policy and has helped to fashion a specific, new trade promotion scheme (Gateways to Global Growth) launched by the UK in 2009.
Research on employee share plans and employee ownership has made an impact in the media and on government policy. Pendleton's research has influenced and increased media discussions of participation in share plans, financial knowledge, and plan outcomes in the specialist reward and financial press. Additionally, the research impacted upon government policy in two ways: one in informing a government decision not to remove the tax benefits connected with share ownership plans; and two, in contributing to an enquiry which has subsequently had a significant influence on the views of the main political parties towards employee ownership.
The funding of innovative SMEs is widely recognised to suffer from market failures and has been an area of policy concern since the 1930s. Sussex research has contributed significantly to understanding the underlying causes of these market failures, particularly for innovative firms in the UK and EU. It has placed stronger emphasis, than was the case in the past, on addressing demand -, rather than supply-side constraints (caused by the limited number of UK firms capable of generating commercial returns). This enables it to contribute towards the design and implementation of more effective equity support.
Research on employee ownership (EO) conducted by Professors Lampel and Bhalla at City University London has made a substantial contribution to the evidence base used by the UK government to formulate and introduce policies aimed at boosting employee ownership. Evidence on the resilience and flexibility of EO firms, as well as the barriers that they confront, played an important role in the launch on 4th July 2013 of a new government policy to make employee ownership more accessible, including the injection of £50M annually to support EO models. Greater adoption of the EO model in the private sector benefits employees and employers and improves the wider economy. The evidence provided by this research has also led to a greater focus on EO in the public sector, with government policies now being formulated to encourage greater adoption of EO, specifically in the areas of health and social care, benefiting additionally the recipients of services and their families.
This case demonstrates how researchby the Centre for International Business University of Leeds (CIBUL) between 2001and 2008 has been utilised by Nestlé - the world's largest nutrition company - to improve its communication strategy and evaluate how its foreign investments create value and influence economic development, innovation, environment, society and different stakeholder groups (e.g. employees, suppliers and governments). CIBUL's research has also (1) improved the services offered by intermediaries such as the investment-promotion arm of the British government (the UKTI) and the UN body for economic development (UNCTAD), and (2) benefited the businesses thatthese bodies serve by identifying factors that help theminternationalise and derive greater value from international expansion.
Professor Colin Mayer's research on corporate governance has had a profound impact on regulation, practice and policy regarding the governance of corporations around the world, and the measurement of corporate and national economic performance in the UK. Through policy engagement with the OECD, research carried out by Mayer over the past two decades has had a clear impact on the formulation of governance rules and codes at the international level, including recent discussions to modify the principles since 2012. Mayer's research has had further influence, since 2012, through his membership of the UK Government's Natural Capital Committee. His research on corporate valuation, performance and the role of business in society has also, and continues to change significantly the ways in which both national and corporate accounts incorporate natural capital.
The UK's adoption, and implementation in 2004, of the European Union's (EU) Information and Consultation of Employees (ICE) Directive had profound implications for industrial relations in the UK, which historically had no provision for works councils (a representative structure where management meet with employee representatives to discuss working conditions). Professor Mark Hall's research on the impact of the ICE Regulations on organisations has had an impact on both policy and implementation of the Regulations at the UK and European levels. The outputs from the research have helped to inform UK policy-making, and supported significant European reviews of the legislation as well as contributing to improving professional practice through training and information.
Professor Pedro Martins' research expertise is on labour economics, including dismissals, wages and social returns of education. From June 2011 until February 2013, he was seconded from Queen Mary to undertake the key role of Portuguese Secretary of State for Employment. Informed by his research, he initiated and implemented a programme of effective labour market legislative reforms over a relatively short period of time. A reformed labour code (four changes of law) and several ordnances, resolutions and other policy change were the outcome, affecting individual dismissals, working time, collective bargaining, training and active labour market policies. His aim was to reduce unemployment by partly deregulating the labour market, so reducing the disincentives for firms to employ people, and by promoting active labour market policies to raise skill levels within the economy. The reforms affected approximately five million people. Following the reforms, Portugal moved to eighth place (in 2009 it was first) out of 34 countries in terms of the strength of permanent employees' protection (OECD Employment Outlook 2012); and unemployment fell, from 17.7% to 15.6%, and GDP increased, by 1.3%, between the first and third quarters of 2013.
Monetary policy and its effect on the wider economy are important for South Africa's objective of achieving both high economic growth and low inflation — which are deemed to contribute to the government's and electorate's greater objectives of reducing poverty and creating employment. The central bank (South African Reserve Bank, SARB) and the National Treasury have responsibility for both monetary policy and the oversight of the financial sector. Laurence Harris's research on the links between monetary policy, financial sector development, and their connection with the financing and investment decisions made by businesses has led both institutions to seek and act on his advice.
The Centre for Management Buyout Research (CMBOR) pioneered a unique live platform that has informed and influenced the work of UK, European and International government agencies, industry, policy makers, practitioners and researchers. For the first time, CMBOR provided systematic research evidence on private-equity buyouts which is an area that is often misunderstood among policy makers and the wider public. The provision of extensive data on over 30,000 European private equity buy-out transactions and quarterly reports / analyses on buy-out activity has served to enhance government, industry and the wider public's understanding and inform the development of policies and practice on a strategic and operational level in the UK, Europe and US.