Creating a business word list for teaching business English

ELIA 7, 2007, pp. 79-102 CREATING A BUSINESS WORD LIST FOR TEACHING BUSINESS ENGLISH Nikolaos Kons an akis Swansea Uni e si y, UK Fo eign language s uden s planning o s udy business a English-speaking uni e si ies ha e li le o no p e ious aining in English o Academic Pu poses in gene al, o in Business English in pa icula . None heless, hese s uden s ely hea ily on hei abili y o ead and ully comp ehend a a ie y o business cou se books and o he ma e ials in he ield. Reading comp ehension, howe e , depends o a g ea ex en on an indi idual’s ocabula y le el. Vocabula y may be acqui ed by lea ning wo d lis s. One e y use ul lis o his kind is he Gene al Se ice Lis (Wes , 1953) which includes he 2,000 mos common wo ds o eaching and lea ning English. Ano he po en ially use ul lis , which is mo e specialised, is he Academic Wo d Lis (Coxhead, 2000), which p o ides he mos common wo ds in academic ex s. These wo lis s, howe e , ail o p o ide he p ospec i e s uden s o business wi h he echnical ocabula y ha is pa icula o hei a ea o s udy. A hi d lis , he e o e, mo e specialised and business-o ien ed is equi ed in o de o co e his gap. The p esen pape desc ibes he a emp o c ea e a Business Wo d Lis . Key wo ds: Business English, echnical ocabula y, co po a, wo d lis s, lexical co e age Los es udian es de lenguas ex anje as que planean es udia inanzas en uni e sidades de países de habla inglesa ienen poco conocimien o del inglés con ines académicos en gene al, y del inglés pa a los negocios en pa icula . Sin emba go, es os es udian es deben lee y comp ende pe ec amen e g an a iedad de lib os de ex o y ma e iales elacionados con el mundo de los negocios. Pe o la comp ensión de ex os depende del Es udios de lingüís ica inglesa aplicada 80 Nikolaos Kons an akis ELIA 7, 2007, pp. 79-102 ni el de ocabula io de cada indi iduo. El ocabula io puede se adqui ido a a és de lis as de palab as. Una lis a muy ú il es la Gene al Se ice Lis (Wes , 1953), que incluye las 2.000 palab as más comunes pa a enseña y ap ende inglés. O a lis a, más especializada, que puede se de u ilidad es la Academic Wo d Lis (Coxhead, 2000) y o ece las palab as más comunes en ex os académicos. Es as dos lis as, sin emba go, no p o een a los u u os es udian es de negocios del ocabula io écnico especí ico de su á ea de es udio. Po lo an o, una e ce a lis a más especializada y o ien ada hacia los negocios es necesa ia pa a cub i es a necesidad. El p esen e a ículo desc ibe el in en o de c ea una Lis a de Vocabula io pa a los Negocios. Palab as cla e: inglés pa a los negocios, ocabula io écnico, co pus, lis as de ocabula io, cobe u a léxica 1. Backg ound Fo eign s uden s s udying business subjec s a English-speaking uni e si ies ely hea ily on hei abili y o ead and ully comp ehend a a ie y o business cou se books and o he ma e ials in he ield. Be o e s a ing business cou ses a uni e si ies, hese o eign s uden s usually ha e li le o no aining in Business English speci ically o in English o Academic Pu poses (EAP) in gene al. An example is gi en by Tschi ne (2004) who conduc ed a s udy wi h s uden s in seconda y schools in Sachsen, Ge many, and ound ha e en hough he s uden s had been s udying English o mo e han eigh yea s hey did no necessa ily mee he ocabula y h esholds equi ed o unde s anding academic ex s. Ano he case is men ioned by Nu weni and Read (1999) who conduc ed a s udy on how many wo ds i s - yea s uden s o an Indonesian uni e si y knew. The esul s showed ha he s uden s knew 986 wo ds ou o he Gene al Se ice Lis ’s (GSL) (Wes , 1953) 2,000 wo ds, and 240 ou o he Uni e si y Wo d Lis ’s (UWL) (Xue and Na ion, 1984) 800 wo ds, making a o al o 1,226 wo ds. This, howe e , was much less han he 4,000 wo ds which we e p esc ibed by he na ional cu iculum o high school. S uden s who ha e inadequa e o no aining will, soone o la e , ind hemsel es acing di icul ies when hey ha e o C ea ing a business wo d lis o … 81 ELIA 7, 2007, pp. 79-102 cope wi h specialis ex s. Reading comp ehension, consequen ly, becomes a de e mining ac o o hei success. 1.1. Reading Comp ehension and Vocabula y S uden s’ eading comp ehension abili ies a e la gely a ec ed by hei lexical le el. Lau e and Sim (1985a), o example, while in es iga ing how s uden s wi h pa ial linguis ic knowledge in e p e a ex , concluded ha lea ne s need mainly a s ong ocabula y base in o de o use con ex ual clues e ec i ely. In ano he s udy, Lau e and Sim (1985b) showed ha in hei e o o unde s and ex s lea ne s elied i s ly on wo d meaning, hen on subjec knowledge, and las o all on syn ax. In hei esea ch, Ulijn and S o he (1990) sugges ha eading depends chie ly on unde s anding he meaning o he ex ’s wo ds and i s subjec ma e . Lau e (1992b) conduc ed a s udy in o de o ind ou whe he he lea ne s’ gene al academic abili y o hei lexical le el is a be e p edic o o eading in L2, and he esul s indica ed ha i is hei lexical le el. Finally, Haynes and Bake (1993), in an expe imen wi h college s uden s on a ex ha included bo h linguis ic and non-linguis ic lexical amilia isa ions, concluded ha L2 eade s need no only be e eading s a egies bu also g ea e ocabula y knowledge o comp ehension. Vocabula y, he e o e, appea s o be he basic aspec in unde s anding a ex . Fo eign s uden s p epa ing o uni e si y le el s udies in business can be no excep ion o he abo e conclusions; hey need adequa e ocabula y in o de o be able o unde s and and cope wi h hei business cou se books. Bu how much ocabula y is exac ly necessa y o hem o achie e success ul comp ehension? 1.2. Vocabula y Size Lau e (1989) a emp ed o de e mine wha he minimum lexical co e age o comp ehension o au hen ic ex s is. She ound in he s udy ha he s uden s who could unde s and 95% o he wo ds in he ex she used o 82 Nikolaos Kons an akis ELIA 7, 2007, pp. 79-102 analysis sco ed 55% and abo e on a eading comp ehension es , which was an accep able sco e o he expe imen . In a u he s udy (Lau e , 1992a), she ied o asce ain his ime wha ocabula y size is equi ed by lea ne s o achie e an accep able sco e in a eading comp ehension es . The esul s showed ha a ocabula y size o 3,000 wo d amilies – o 4,800 lexical i ems – p edic s a minimum eading comp ehension es esul o 56%, again an accep able sco e. The wo s udies he e o e sugges ha a lexical co e age o 95% in a ex , o knowledge o a ocabula y o 3,000 wo d amilies, is he much desi ed h eshold o lea ne s o be able o achie e sa is ac o y eading comp ehension. Howe e , Hi sh and Na ion (1992), in a s udy conduc ed using h ee no els in ended o younge eade s, ha e sugges ed ha a co e age o 98% is he desi able le el o pleasu able eading. Hu and Na ion (2000), using ou di e en le els o co e age o a ic ion ex which was es ed on lea ne s, p oduced esul s which showed ha a he 95% le el some lea ne s achie ed adequa e comp ehension bu he majo i y did no . They also concluded ha lea ne s would need o know 98% o he unning wo ds o he ex in o de o be able o ead o pleasu e, which suppo s he 98% co e age claim made ea lie by Hi sh and Na ion. Wha kind o wo ds, howe e , mus be augh and lea ned in o de o achie e ei he o he abo e pe cen ages? The mos equen wo ds in English is a i s answe . These a e wo ds ha make up he co e ocabula y ha is used in all kinds o ex s. A collec ion o such wo ds is he GSL. Since he p esen s udy has p ospec i e uni e si y s uden s o business as i s a ge g oup, an addi ional numbe o wo ds which a e ound in academic ex s is a necessa y supplemen . These can be ound in he Academic Wo d Lis (AWL). 1.3. The GSL and he AWL The GSL is a lis de eloped by Wes (1953) om a co pus o 5 million wo ds and i is based on wo d coun s ca ied ou in he 1930s. I con ains abou 2,000 headwo ds mainly chosen on he basis o equency (Na ion and Wa ing, 1997). These 2,000 headwo ds a e high equency wo ds and hey C ea ing a business wo d lis o … 83 ELIA 7, 2007, pp. 79-102 con ain mos o he 176 unc ion wo ds o English (Coxhead and Na ion, 2001). The AWL was de eloped ai ly ecen ly by Coxhead (2000) om he Academic Co pus. This is a co pus o 3.5 million unning wo ds which Coxhead compiled and i consis s o ex s om ou subco po a which a e ep esen a i e o academic subjec s, i.e. A s, Comme ce, Law, and Science. The lis con ains 570 headwo ds ha ha e been expanded o wo d amilies acco ding o he wo d amily de ini ion o Baue and Na ion (1993), up o and including le el 6. These a e wo ds which a e no included in he GSL. 1.4. Validi y o he GSL and he AWL A ques ion which eadily comes o mind a his poin is o wha ex end he GSL and he AWL a e alid. Na ion (2004) conduc ed a e y in e es ing s udy o his end in which he compa ed he GSL and he AWL wi h h ee equency lis s he compiled om he BNC. Rega ding he GSL, numbe s, days o he week and mon hs o he yea we e no included in he o iginal lis bu we e added by Na ion o he pu poses o his s udy. The headwo ds we e expanded o wo d amilies using he wo d amily de ini ion acco ding o Baue and Na ion (1993), up o and including le el 6. As a esul , he 2,000 headwo ds we e educed o 1,986 headwo ds in he end. Added o hese we e he 570 wo d amilies om he AWL, making a o al o 2,556 headwo ds o wo d amilies. As o he BNC lis s, he named he i s lis BNC 1000 because i con ains he 1,000 mos equen wo ds om he BNC, he second lis BNC 2,000, and he hi d one BNC 3,000. I mus be no ed ha he BNC lis s con ained 444 mo e wo d amilies (3,000 in o al) han he combined GSL and AWL. These wo lis g oups we e es ed on ou di e en co po a in o de o ind he co e age hey p o ide. The esul s showed ha he BNC lis s p o ide only a sligh ly be e co e age anging om 0.9% o 2%. These indings a e sound indica ion ha he GSL and he AWL a e ex emely alid, mos su p isingly gi en he da e he GSL was de eloped. 84 Nikolaos Kons an akis ELIA 7, 2007, pp. 79-102 1.5. How Much Co e age Do he GSL and he AWL P o ide? Na ion and Wa ing (1997), based on a numbe o p e ious s udies, epo ha he GSL p o ided a co e age o 78% o 92% in a ious kinds o w i en ex s, gi ing an a e age o 82%. The AWL on he o he hand gi es a co e age o 10% in he Academic Co pus (Coxhead, 2000). Bu when es ed on he ou subco po a o he Academic Co pus indi idually, i.e. A s, Comme ce, Law, and Science, i gi es a su p ising 12% o he comme ce subco pus and 9.0% o 9.4% o he o he h ee academic a eas (Coxhead, 2002). As Coxhead igh ly ema ks (2002), he AWL bene i s he comme ce s uden s mo e han he o he s. The eal po en ial o he lis s, howe e , can be seen when hese wo a e used oge he . When he GSL is combined wi h he AWL, hey p o ide a co e age o 88.8% o he comme ce subco pus in he Academic Co pus, he highes in all ou academic subjec s (Coxhead, 2002). When es ed on he whole Academic Co pus, i.e. all subco po a included (3.5 million wo ds), he wo lis s gi e 86.1% (Coxhead , 2000). Also, Na ion (2004) epo s ha when he es ed he GSL and he AWL on ou o he co po a, he wo lis s combined p o ided a co e age o 85.5% o 91.4%. The abo e esul s he e o e s ongly indica e ha knowledge o hese wo wo d lis s could p o ide a e y sa is ac o y basis o eading comp ehension. These lis s a e a sho -cu o e icien comp ehension because hey a e he mos impo an wo ds ha s uden s need o know o cope wi h uni e si y ex s. 2. Aims The aims se o he p esen s udy a e, he e o e, he ollowing: 1. To asce ain whe he he GSL and AWL combined can p o ide a pe cen age o lexical co e age in business ex s ha eaches 95%. 2. I he wo lis s do no p o ide a 95% co e age, o a emp o c ea e a new lis made speci ically o business- ela ed wo ds. C ea ing a business wo d lis o … 85 ELIA 7, 2007, pp. 79-102 As has been poin ed ou ea lie , wo pe cen ages ha e been sugges ed ega ding he h eshold o success ul eading comp ehension: 95% and 98%. Howe e , he 95% was chosen as he aim because i is he minimum lexical le el equi ed o comp ehension, and also because i was de e mined using academic ex s, and his esea ch add esses p ospec i e uni e si y s uden s o business. 3. Me hodology 3.1. The Co pus Fo he p esen s udy, he Published Ma e ial Co pus (PMC) compiled by Nelson (2000) was chosen. I con ains abou 600,000 wo ds and i is made up o ex s coming om 33 Business English cou se books selec ed o e a pe iod o en yea s (1986-1996). These cou se books we e selec ed acco ding o a popula i y c i e ion since i was conside ed impo an ha he co pus e lec ed he ac ual books ha Business English eache s and s uden s use. I was upon his c i e ion ha he pa icula co pus was chosen because i ep esen s wha he s uden s o Business English we e ac ually augh . 3.2. The So wa e Tool The so wa e used o he pu poses o his s udy is RANGE (Hea ley, Na ion, & Coxhead, 2002). This so wa e uses he GSL and he AWL as iles. The wo ds in bo h lis s a e expanded in o hei wo d amilies. The GSL is di ided in o wo iles, one con aining he i s 1,000 mos common wo ds and ano he ile con aining he second 1,000 mos common wo ds. The wo ds o he AWL a e all in a hi d ile. The use can load one o mo e ex s and he p og am will compa e he ex (s) agains hese wo d lis s. The ou come o co e age is p esen ed in pe cen ages o each lis . The wo ds ha a e no ound in any o hese lis s a e also p o ided. One o he e y use ul ea u es o he so wa e is ha i can also so he wo ds in alphabe ical o de and in o de o ange o equency. 86 Nikolaos Kons an akis ELIA 7, 2007, pp. 79-102 3.3. P ocedu e The i s aim o he s udy was o e i y whe he he GSL and he AWL would p o ide a pe cen age in co e age o he PMC close o he 90% which, as men ioned abo e, is cha ac e is ically he s anda d pe cen age ha hese wo lis s p o ide, o 95% o co e he business ocabula y as well. I he co e age p o ed o be 95%, i would mean ha he GSL and he AWL wo ds would be enough o p ospec i e s uden s o business o know. I , howe e , i p o ed o be 90%, hen a Business Wo d Lis (BWL) would ha e o be de eloped in o de o co e he gap. To ha end, he PMC was un in RANGE and he esul s a e p esen ed in Table 1: 1k 80.26% 2k 5.46% AWL 4.66% TOTAL 90.38% Table 1: Pe cen age o co e age o he PMC The esul s showed ha he GSL and he AWL wo ds co e a li le mo e han 90% in he PMC, so he combina ion o he wo wo d lis s is no enough o each 95%. This esul p o ided an answe o he i s aim o his esea ch. I also mean ha a BWL would ha e o be c ea ed o each a 95% co e age. Howe e , he pe cen age he BWL ac ually needed o co e in o de o each 95% was only abou 5%, since mo e han 90% was al eady co e ed by he wo ds o he GSL and he AWL. The nex s ep was o so he wo ds o he co pus no belonging o he GSL and he AWL as his was he pool om which he wo ds o he BWL would come om. I was decided o s a wi h he wo ds ha ha e a C ea ing a business wo d lis o … 87 ELIA 7, 2007, pp. 79-102 high ange o occu ence in he co pus. Fo he PMC, ange ep esen s he 33 cou se books ha make up he co pus, and, consequen ly, a limi had o be se . I was decided ha wo ds ha did no appea in less han i e cou se books we e no eligible. The ollowing s ep was o ake he selec ed wo ds h ough a p ocess o clea ing. Du ing his s age, all p ope names, nume icals, La in wo ds, na ionali ies, ac onyms, and in e jec ions we e aken ou . These a e wo ds which a e conside ed known o wi h e y low lea ning bu den. This is a p ocedu e ha Coxhead (2000) has also ollowed o he AWL. Ano he ca ego y ha had o be aken ou was abb e ia ions. This was a di icul ask since, apa om abb e ia ions like Co ( o Company) o L d ( o Limi ed), he e we e a numbe o o he s ha al hough s ic ly speaking hey a e abb e ia ions, hey a e pa o e e yday ocabula y and accep ed nowadays as such. Examples a e TV, CV, memo, and ad. The c i e ion o abb e ia ion was s ic ly imposed and such wo ds we e also aken ou . The emaining wo ds we e hen expanded o hei wo d amilies acco ding o Baue and Na ion (1993), up o and including le el 6, and ha p oduced a lis o 480 headwo ds. These comp ised he i s e sion o he BWL which had o be es ed now o co e age. They we e sa ed and added o RANGE as a ou h lis . The PMC was un again in RANGE; his ime i checked he co pus’s wo ds agains he GSL, he AWL, and he newly de eloped BWL. The esul s a e p esen ed in Table 2. 1k 80.26% 2k 5.46% AWL 4.66% BWL 2.55% TOTAL 92.93% Table 2: Pe cen age o co e age including he BWL 94 Nikolaos Kons an akis ELIA 7, 2007, pp. 79-102 1k 80.26% 2k 5.46% AWL 4.66% BWL 2.80% Ac onyms/Abb e ia ions 0.30% P ope names and Na ionali ies 2.18% NEW TOTAL 95.65% Table 6: Pe cen age co e age including p ope names and na ionali ies 5. Conclusion and Fu u e Resea ch S uden s p epa ing o uni e si y business subjec s need o be ained wi h echnical ocabula y ha will help hem cope wi h he ex s o hei uni e si y cou se books. A co pus wi h ex s om Business English cou se books was used in o de o ind his equi ed echnical ocabula y. As a esul , a Business Wo d Lis was de eloped using a se o selec ion c i e ia. When his lis is added o he GSL and he AWL, hey all p o ide a pe cen age o 93.47%. This lis includes he ac onyms and abb e ia ions which a e so necessa y o e ec i e comp ehension o business ex s. Assuming also ha s uden s ha e ela i ely no di icul y in iden i ying p ope names and na ionali ies, he ac ual comp ehension co e age eaches 95.65%. This pe cen age goes sligh ly beyond he 95% se by Lau e ’s (1989) s udy o success ul comp ehension in academic ex s, and ha was one o he aims o his s udy. Wha his means in p ac ice is ha s uden s, p o ided hey al eady know he wo ds belonging o he GSL and he AWL, will be in an ad an ageous posi ion o achie e g ea e comp ehension ega ding business ex s, once hey also acqui e he wo ds coming om he BWL. C ea ing a business wo d lis o … 95 ELIA 7, 2007, pp. 79-102 A possible way o aise he co e age pe cen age o he Business Wo d Lis e en mo e would be o lowe he ange and equency c i e ia. I he limi goes u he down, i.e. less han 5 o ange (which means including wo ds which appea in less han i e Business English cou se books) and less han 10 o equency (include wo ds which occu less han en imes in he whole co pus), hen a conside able numbe o wo ds will be added o he al eady de eloped BWL, possibly con ibu ing an e en g ea e pe cen age o co e age. The ques ion, howe e , is exac ly how use ul wo ds o equency o 3, o example, can be. The p esen BWL mus be es ed wi h s uden s. A s udy explo ing whe he his BWL is enough o s uden s o achie e sa is ac o y esul s in ac ual eading comp ehension es s o business ex s is essen ial, and will e i y he alidi y o he lis . In he u u e, a s udy using ano he co pus may yield a highe pe cen age o co e age. This o he co pus may be made up o ex s coming om ac ual uni e si y business cou se books, and no om Business English cou se books, as was he one used o he p esen s udy. This way a mo e ep esen a i e lis will be de eloped and hope ully se e as a e y e ec i e ma e ial o be augh o p ospec i e s uden s o business. 96 Nikolaos Kons an akis ELIA 7, 2007, pp. 79-102 Re e ences Baue , L. & Na ion, I.S.P. (1993). Wo d amilies. In e na ional Jou nal o Lexicog aphy, 6/3, 253-279. Cobb, T. & Ho s , M. (2001). Reading academic English: Ca ying lea ne s ac oss he lexical h eshold. In J. Flowe dew & M. Peacock (Eds.), Resea ch Pe spec i es on English o Academic Pu poses (pp. 315- 329). Camb idge: Camb idge Uni e si y P ess. Coxhead, A. (2000). A new academic wo d lis . TESOL Qua e ly, 34, 213- 239. Coxhead, A. (2002). The academic wo d lis : a co pus based wo d lis o academic pu poses. In B. Ke eman & G. Ma ko (Eds.), Teaching and Lea ning by doing co pus analysis (pp. 73-89). Ams e dam: Rodopi. Coxhead, A. & Na ion, I.S.P. (2001). The specialised ocabula y o English o Special Pu poses. In J. Flowe dew & M. 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Appendix Business Wo d Lis abo e-men ioned accesso ies acid ad e se ae ospace a e -sales agenda agg essi e ai c a ai line ai po ai ways ala m alliance amazing announced an ispy an i- he appeal appliances app aisal ap i ude assemble s asse in-dep h in la ion ing edien s inhabi an s in-house injec ion insis ins all insu e s in e iew i e ocable jacke jeans junc ion junio keen keyboa d kids know-how labo a o ies lading lamb lane la ge-scale axa ion eamwo k echnicians echnologies elecommunica ions ele ax ele ision elex ennis e i ic e i o y ex iles he p awns p e e ably p emises p emium p esen a ions p es ige p e- ax p ice-lis p in e p ocesso p o esso C ea ing a business wo d lis o … 99 ELIA 7, 2007, pp. 79-102 a mosphe e audi au ho ised au omo i e au onomy awa d aw ul bank up ba ie s ba e y beach bee be o ehand be bid champagne cha e cha check-in chemis chocola e ciga e e cinema ci cui ci cula ed clea ance cle ical clien clima e coach cock ail cocoa column comme cials compac compe en compe i o comp omise conce conc e e con iden ial conglome a e conjunc ion cons consignmen con inen al launch layou lea le leasing le -hand leisu e lemonade liabili y lieu li es yle in en o y in oice li e ally logo long- e m lounge luc a i e luggage lunch ime luxu y madam magazine e-enginee ing e e ence e und emi ance emo e emune a ion en al eso esume e ail idiculous isen obo s ocke manage ial manpowe ma ine ma i al ma ke place ma k-up massi e ma e ni y medium-sized medium- e m p o ile p o i abili y p omo ional p one p oposi ion p o ec ionis p o o ype p o isional pub que ies ques ionnai e adius ally a ings ecall ecep ion ecession ecipe eckon ec ui ecycled edesign edundancy esacked salad salesman sandwich sa elli e sco e sc ap seasonal sec e a ial sel -employed semina senio session se back se -up shampoo sha eholde shippe sho lis sho - e m si s si e-sha ing ski 100 Nikolaos Kons an akis ELIA 7, 2007, pp. 79-102 con eyo cope co esponden cosme ics cos -e ec i e coun e coun e pa s coun y c ane c a es c azy c edibili y a - eaching ax easible eed eedback es i al iscal i ings lexi ime luen luo escen ollow-up oo hold o ecas o emos o nigh agile anchise eigh inge uel ul il ull- ime gamble ga men s ga eau gea elec onic emba assing emo ional engaged enqui ies en e p ise en husiasm memo andum menu me chandise me ge mess me opoli an misunde s ood mobile modem mone a y mo ale mo gage mo o way mo ie mul ina ional museum na ionali y nego ia e ne ous niche no i y nu shell objec i es obliged obs acle old- ashioned on-boa d ope a opposi ion op imis ic o ganise ou doo ou le s ou se o e d a o e head o e nigh o e ime o e iew pace packaging palace panic pape wo k pa pa - ime slice slump sma so wa e sophis ica ed specialising spec acula spicy spokesman sponso ship squash s a ing s ake s a e s s a -up s a e-o - he-a s a ic s a ione y s e eo s e ling s imula ing s o age s ain s eng hs ick iles iming iny oken one one onnes ou ism a ic ainee ai s ansac ion a elle emendous olley uck umble unnel u no e unde g ound unexpec ed C ea ing a business wo d lis o … 101 ELIA 7, 2007, pp. 79-102 en i led en ep eneu ial equi y execu i e exhibi o s expendi u e ab ic ai s ake an as ic genuine geog aphical gian gin glance gol goods goodwill g adua e g aph g oce s g oss gul guy hal ham ha dwa e ha d-wo king headaches headhun e headqua e s heigh holdings homemake s homewo k hope ully hospi ali y hos ile household huge humou impo imp essed incon enience incu ed passpo pas a pa en payable peak pee penal y pence pension pe sonali y pe sonnel pe ol pha maceu ical pho ocopy ph ases pie pizza plane plas ic pla o m po po able po olio pos age po a oes po e ies o a ion ou ine umou s s udio subsidia ies sui e supe supe io supe ma ke supe ision su plus swap swi ch ackle ac ics akeo e alen ank a i s upda e upg ade up- o-da e up u n u gen acancies aca ion as ege ables ege a ian en u e enue e ical iable ice ice-p esiden ideo iewpoin i al walkman wa ehouse waybill weake well-known wha soe e whisky wholesale wi hd aw wo k o ce wo kplace wo kshop wo ldwide wo hwhile yach yen zone 102 Nikolaos Kons an akis ELIA 7, 2007, pp. 79-102 Abb e ia ions Lis Ab Ad Ad e Ag AGM Asap Asn A n Au o B os Cc CD CEO Ci Co Co p CV Del Dep DTI EC F -Se EEC Enc Encl F GATT Gdp Gmbh GNP Hi-Fi Inc L d MBA MD Memo PA PC Plc Pp P P y Recap Re Reg Rep Sa Tel Telecom TV USD VAT Recei ed 15 June 2007: Re ised e sion ecei ed 1 Oc obe 2007