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Cash cows amid bulls and bears

Warwick University's business school insists that its commercial sponsors co-fund group research projects to avoid charges of "glorified consultancy". These "subscriber clubs" ensure there is no single commercial beneficiary, and the research is accessible to more than just one sponsor.

The rule does not deter commercial interest. In 1995-96 research income was Pounds 2.74 million (Pounds 325,000 from the private sector).

Research is disseminated to sponsors in an easy-to-read monthly digest. This approach has not compromised quality - school research was rated five in the last RAE.