It is argued that construction is an important sector of the Welsh economy in terms of employment, wages and growth. Key competence and capacity issues have arisen, however, due to large contracting firms concentrating on core activities and subcontracting peripheral activities to Small...

[...]We recommend that a study incorporating our suggested refinements should now take place into a furthergroup of sectors of interest to policy makers to test further the framework and any improvements builtinto it.[...]

This paper investigates the relative influences of industrial and country factors in international stock returns. Until very recently, academic research has consistently found that country factors dominate industrial factors. This result is in contradiction with practitioners beliefs. This paper...