Business Commons^™

St. Cloud Area Quarterly Business Report, Vol. 17, No. 4, Richard A. Macdonald, King Banaian

St. Cloud Area Quarterly Business Report

No abstract provided.

Beyond Beautiful*- Why Citizens Are Comparatively Happier, More Prosperous, More Peaceful, More Democratically Engaged And Less Selfish Living In Smaller States, Anthony Paul Buckley

Other

Half of all sovereign states in the world have a population of less than 6.2m (World Bank, 2014). The mainstream literature in most academic disciplines has chosen, by accident or design, to neglect the unique determinants of small state growth and development (Armstrong & Read, 2003; Read, 2014). These are extraordinary omissions when the collective evidence on the performance of smaller states on a wide range of economic, political, cultural and social indices is considered. Apart from the disproportionate representation that small states enjoy in the World Banks Upper-Middle and High Income categories, many small states also feature in the …

Intraday Value-At-Risk: An Asymmetric Autoregressive Conditional Duration Approach, Shouwei Liu, Yiu Kuen Tse

Research Collection School Of Economics

We propose to compute the Intraday Value-at-Risk (IVaR) for stocks using real-time transaction data. Tick-by-tick data filtered by price duration are modeled using a two-state asymmetric autoregressive conditional duration (AACD) model, and the IVaR is calculated using Monte Carlo simulation based on the estimated AACD model. Backtesting results for the New York Stock Exchange (NYSE) show that the IVaR calculated using the AACD method outperforms those using the Dionne et al. (2009) and Giot (2005) methods.

New Methodology For Constructing Real Estate Price Indices Applied To The Singapore Residential Market, Liang Jiang, Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

This paper develops a new methodology for constructing a real estate price index that utilizes all transaction price information, encompassing both single-sales and repeat-sales. The method is less susceptible to specification error than standard hedonic methods and is not subject to the sample selection bias involved in indexes that rely only on repeat sales. The methodology employs a model design that uses a sale pairing process based on the individual building level, rather than the individual house level as is used in the repeat-sales method. The approach extends ideas from repeat-sales methodology in a way that accommodates much wider datasets. …

Managerial Segmentation Of Service Offerings In Work Commuting, Steven D. Silver

Faculty Publications

This study reports an implementation of procedures that multivariate methodology make available to assess the relative importance of attributes of service offerings to work commuters. Adaptive choice conjoint analysis was used to derive the importance weights of attributes in available service offering to a commuter sample. A clustering procedure was then used to define homogeneous sub-groups of the sample and the combination of demographic differences that discriminate clusters. Results of this assessment are used to indicate how a market in workcommuting can be segmented on the basis of user indications of the importance of attributes of service offerings.

Cognitive Reflection And The Diligent Worker: An Experimental Study Of Millennials, Brice Corgnet, Roberto Hernán-González, Ricardo Mateo

Economics Faculty Articles and Research

Recent studies have shown that despite crucially needing the creative talent of millennials (people born after 1980) organizations have been reluctant to hire young workers because of their supposed lack of diligence. We propose to help resolve this dilemma by studying the determinants of task performance and shirking behaviors of millennials in a laboratory work environment. We find that cognitive ability is a good predictor of task performance in line with previous literature. In contrast with previous research, personality traits do not consistently predict either task performance or shirking behaviors. Shirking behaviors, as measured by the time participants spent browsing …

The Next Wave Of Globalisation, Singapore Management University

Perspectives@SMU

As consumption patterns shift away from OECD countries to the developing world, businesses need to leverage on technology to overcome last-mile delivery obstacles

Testing For Multiple Bubbles: Limit Theory Of Real-Time Detectors, Peter C. B. Phillips, Shuping Shi, Jun Yu

Research Collection School Of Economics

This article provides the limit theory of real-time dating algorithms for bubble detection that were suggested in Phillips, Wu, and Yu (PWY; International Economic Review 52 [2011], 201-26) and in a companion paper by the present authors (Phillips, Shi, and Yu, 2015; PSY; International Economic Review 56 [2015a], 1099-1134. Bubbles are modeled using mildly explosive bubble episodes that are embedded within longer periods where the data evolve as a stochastic trend, thereby capturing normal market behavior as well as exuberance and collapse. Both the PWY and PSY estimates rely on recursive right-tailed unit root tests (each with a different recursive …

Testing For Multiple Bubbles: Historical Episodes Of Exuberance And Collapse In The S&P 500, Peter C. B. Phillips, Shuping Shi, Jun Yu

Research Collection School Of Economics

Recent work on econometric detection mechanisms has shown the effectiveness of recursive procedures in identifying and dating financial bubbles in real time. These procedures are useful as warning alerts in surveillance strategies conducted by central banks and fiscal regulators with real-time data. Use of these methods over long historical periods presents a more serious econometric challenge due to the complexity of the nonlinear structure and break mechanisms that are inherent in multiple-bubble phenomena within the same sample period. To meet this challenge, this article develops a new recursive flexible window method that is better suited for practical implementation with long …

Borderless Markets: A Boon Or Bane For Marketers?, Philip Charles Zerrillo

Asian Management Insights

Economic integration and free trade isnot always a panacea for businesses.

Cointegration Of Matched Home Purchases And Rental Price Indexes: Evidence From Singapore, Badi H. Baltagi, Jing Li

Research Collection School Of Economics

This paper exploits the homogeneity feature of the Singapore private residential condominium market and constructs matched home purchase price and rental price series using the repeated sales method. These matched series allow us to conduct time series analysis to examine the long-term present value relationship in the housing market. Three key findings are obtained. First, we fail to establish a cointegrating relationship between the home purchase price and rental price based on nationally estimated indexes. Second, area-specific indexes demonstrate strong cross-correlations, invalidating the use of first generation panel unit root tests that ignore these cross-correlations. Third, Pesaran's CIPS test indicates …

Competition Of The Informed: Does The Presence Of Short Sellers Affect Insider Selling?, Massimo Massa, Wenlan Qian, Weibiao Xu, Hong Zhang

Research Collection Lee Kong Chian School Of Business

We study how the presence of short sellers affects the incentives of the insiders to trade on negative information. We show it induces insiders to sell more (shares from their existing stakes) and trade faster to preempt the potential competition from short sellers. An experiment and instrumental variable analysis confirm this causal relationship. The effects are stronger for "opportunistic" (i.e., more informed) insider trades and when short sellers' attention is high. Return predictability of insider sales only occurs in stocks with high short-selling potential, suggesting that short sellers indirectly enhance the speed of information dissemination by accelerating trading by insiders. …

Mexico Consensus Economic Forecast, Volume 18, Number 4, Thomas M. Fullerton Jr., Adam G. Walke

Border Region Modeling Project

No abstract provided.

Fair Trade Or Fake Trade? Specialty Coffee Certifications And Development In Uganda, Eliza Cummings

Independent Study Project (ISP) Collection

This project examined the relationship between specialty coffee certifications and development. The focus was exploring the local and national implications Fairtrade coffee certifications have in Uganda. Coffee is a critical commodity, accounting for 15 percent of Uganda’s foreign exchange and engaging over one million households in production. Currently, specialty certified coffees including Fairtrade, Rainforest Alliance, and 4C make up only four percent of total production. However, under Uganda’s 2013 National Coffee Policy, there is a target to expand specialty production to 24 percent. It is therefore imperative to understand how these specialty certifications affect primary producers participating as well as …

The Politics Of Social Entrepreneurship In Cameroon, Aaron Danowski

Independent Study Project (ISP) Collection

Social entrepreneurship, a practice that combines nonprofit missions and business principles in pursuit of social impact, is a growing phenomenon that has the potential to empower millions of people around the world through a decentralized approach to social problem solving. In this paper, I examine the state of social entrepreneurship in Cameroon, exploring how social entrepreneurship is defined in the Cameroonian context by local actors, and the ways in which Cameroonian social entrepreneurs interact with macro, meso, and micro level politics and partners to create sustainable social impact. From November 7 through December 7, 2015, I conducted in-person interviews with …

St. Cloud Area Quarterly Business Report Vol. 17, No. 3, King Banaian, Richard A. Macdonald

St. Cloud Area Quarterly Business Report

No abstract provided.

Climate And Energy: Opinions Of Nonmetropolitan Nebraskans 2015 Nebraska Rural Poll Results, Rebecca J. Vogt, Cheryl A. Burkhart-Kriesel, Randolph L. Cantrell, Bradley Lubben, L. J. Mcelravy, Tonya Haigh

Nebraska Rural Poll

Many rural Nebraskans are concerned about more severe droughts or longer dry periods in their area, insect-borne diseases like West Nile Virus, and more extreme summer temperatures in their area. Fewer rural Nebraskans are concerned about the availability of water for their community or home or more frequent extreme rains or floods. Residents of the North Central region are more likely than residents of other regions of the state to be concerned about more severe droughts or longer dry periods in their area.

Few rural Nebraskans reported their household experiencing health problems during the drought of 2012. However, many persons …

Central Minnesota Economic And Business Conditions Report - Second Quarter 2015, Richard A. Macdonald, King Banaian

Central Minnesota Economic and Business Conditions Report

Moderate economic growth in the Central Minnesota planning area is projected over the next several months according to predictions of the Central Minnesota Index of Leading Economic Indicators (LEI). After experiencing some weakness in the first part of the year, four of the five components of the LEI turned positive in the second quarter. The only negative component of the LEI is St. Cloud area residential building permits, which appear to have been underreported on the Bureau of the Census website over the past several months. Consequently, the Central Minnesota outlook is stronger than a pure reading of the LEI …

Northeast Minnesota Economic And Business Conditions Report - Second Quarter 2015, Richard A. Macdonald, King Banaian

Northeast Minnesota Economic and Business Conditions Report

Business conditions in Northeast Minnesota are expected to improve over the next several months according to the predictions of the Northeast Minnesota Index of Leading Economic Indicators (LEI). Four of the five components of the LEI increased in this year’s second quarter as the overall index rose by 8.22 points. After being in negative territory for the previous two quarters, this quarter’s positive LEI reading is a welcome sign of future improvement in the Northeast Minnesota economy. A recent rise in initial jobless claims in the region was the only drag on the LEI in the second quarter. A rise …

Northwest Minnesota Economic And Business Conditions Report - Second Quarter 2015, Richard A. Macdonald, King Banaian

Northwest Minnesota Economic and Business Conditions Report

Northwest Minnesota business conditions are expected to improve over the next several months according to the predictions of the St. Cloud State University (SCSU) Northwest Minnesota Index of Leading Economic Indicators (LEI). A stronger macroeconomic environment for rural America and rising consumer sentiment have contributed to a 2.06 point increase in the LEI. After two consecutive quarters of decline in the LEI, the Northwest Minnesota economy seems likely to grow more rapidly over the next several months. However, this part of the state is particularly vulnerable to weakness in the agriculture and energy sectors of the economy, so outside factors …

Southeast Minnesota Economic And Business Conditions Reports - Second Quarter 2015, Richard A. Macdonald, King Banaian

Southeast Minnesota Economic and Business Conditions Report

Southeast Minnesota business conditions are expected to improve over the next several months according to the most recent prediction of the Southeast Minnesota Index of Leading Economic Indicators (LEI). All five LEI components were positive in the second quarter of 2015 as the index rose 9.88 points after recording a negative reading in this year’s first quarter. However, the LEI is still 4.8 percent lower than one year ago. A reduction in Southeast Minnesota initial jobless claims, recent improvement in the Minnesota Business Conditions Index (which serves as a general measure of state business conditions), higher new business filings, a …

Southwest Minnesota Economic And Business Conditions Report - Second Quarter 2015, Richard A. Macdonald, King Banaian

Southwest Minnesota Economic and Business Conditions Report

Southwest Minnesota business conditions are expected to be steady over the next several months according to the predictions of the St. Cloud State University (SCSU) Southwest Minnesota Index of Leading Economic Indicators (LEI). An increase in Mankato area residential building permits in the first part of the year and an improvement in the rural outlook made positive contributions to the LEI in the second quarter. Higher initial jobless claims earlier in the year had a negative impact on the index. Also contributing unfavorably to this quarter’s LEI was weaker new business filings earlier this year. The LEI for the second …

Twin Cities Area Economic And Business Conditions Report - Second Quarter 2015, Richard A. Macdonald, King Banaian

Twin Cities Minnesota Economic and Business Conditions Report

The Twin Cities economy is expected to experience stronger growth over the next several months according to the prediction of the Twin Cities Index of Leading Economic Indicators (LEI). The Twin Cities LEI rose by 3.40 points in this year’s second quarter as three of the five index components increased. The LEI is now 6.2 percent below its level of one year ago. Accounting for the increase in the index are higher residential building permits in the Minneapolis/St. Paul Metropolitan Statistical Area (MSA), a rise in new business filings, and recent improvement in a general measure of statewide business conditions. …

Perspectives On Community Life In Nonmetropolitan Nebraska: 2015 Nebraska Rural Poll Results, Rebecca J. Vogt, Cheryl A. Burkhart-Kriesel, Randolph L. Cantrell, Bradley Lubben, L. J. Mcelravy

Nebraska Rural Poll

By many different measures, rural Nebraskans are positive about their community. Many rural Nebraskans rate their community as friendly, trusting, and supportive. Most rural Nebraskans also say it would be difficult to leave their community. In addition, most rural Nebraskans disagree that their community is powerless to control its future.

However, the proportion of rural Nebraskans satisfied with many social services and entertainment services has decreased across all nineteen years of the study. Declines in satisfaction levels across all 19 years are seen with nursing home care, medical care services, senior centers, mental health services, entertainment, retail shopping and restaurants. …

Analysing The Performance Of Economic Discourses, Joseph Fitzgerald, Brendan O'Rourke

Conference papers

We focus on the methods used in analyzing broadcast interviews with economists on Morning Ireland, a prominent Irish radio news programme. Few would doubt that economists have taken a prominent role as experts on policy issues (Carrick-Hagenbarth and Epstein 2012, p.45) and some contend that no other social science discipline has gained such prominence (Schneider and Kirchgassner 2009, p.324). This paper comes from a larger research project, which uses a tailored methodological approach, incorporating a number of analytical methods. Keller (2011, p.63) has argued that a tailored methodological approach is often required to give special consideration to the ‘knowledge side’ …

2015-2016 Land Management, Relations, And Alternative Cash Lease Provisions Participant Manual

Extension Farm and Ranch Management News

This publication was used as the participant manual for the 2015-2016 land management and flex lease meetings held across the state of Nebraska. This effort was supported by grant funding made available from the Nebraska Soybean Board and the North Central Risk Management Education Center.

Engagement In Nonmetropolitan Nebraska: Civic And Political Participation And Views Of Community Leadership: 2015 Nebraska Rural Poll Results, Rebecca J. Vogt, Cheryl A. Burkhart-Kriesel, Randolph L. Cantrell, Bradley Lubben, L. J. Mcelravy

Nebraska Rural Poll

Most rural Nebraskans have participated in community involvement activities but they have not been as involved in some political activities. However, most rural Nebraskans have spoken with their pocketbooks on political and social issues by either buying or boycotting products because of the social and political values of the company providing them. And, many rural Nebraskans have signed a written petition about a political or social issue and have contacted a local public official to express their opinion.

Certain groups are more likely than others to have participated in community and political involvement activities. While younger persons are more likely …

Singapore’S Housing Policies: Responding To The Challenges Of Economic Transitions, Sock Yong Phang

Research Collection School Of Economics

Singapore has developed its own unique state-driven housing system, with more than three quarters of its housing stock built by the Housing and Development Board and homeownership financed through Central Provident Fund savings. As a result, it has one of the highest homeownership rates amongst market economies. This paper provides a historical perspective of the main housing problems faced by successive prime ministers and their respective policy responses. Under the leadership of Prime Minister Lee Kuan Yew (1959-1990), the government established an integrated landhousing supply and housing finance framework to channel much needed resources into the housing sector to deal …

The Effects Of Antipsychotic Quality Reporting On Antipsychotic And Psychoactive Medication Use, John R. Bowblis, Judith A. Lucas, Christopher Brunt

Finance and Economics Faculty Publications

Objective

The objective of this study is to examine how nursing homes changed their use of antipsychotic and other psychoactive medications in response to Nursing Home Compare's initiation of publicly reporting antipsychotic use in July 2012.

Research Design and Subjects

The study includes all state recertification surveys (n = 40,415) for facilities six quarters prior and post the initiation of public reporting. Using a difference-in-difference framework, the change in use of antipsychotics and other psychoactive medications is compared for facilities subject to public reporting and facilities not subject to reporting.

Principal Findings

The percentage of residents using antipsychotics, hypnotics, …

The Attitude Of Egyptian Set Academics Towards Innovation: Universities And Innovation In A Factor-Driven Economy, Hala Elhadidi, David A. Kirby

Business Administration

In the modern knowledge economy universities are being required to operate more entrepreneurially, commercializing the results of their research and spinning out new ventures. The literature on the Triple Helix model (of academic–industry–government relations) is outlined, emphasizing – as does the model – the enhanced role that the modern entrepreneurial university plays in technological innovation. The study then examines the situation in Egypt where, as an earlier study demonstrated, innovation and the role of higher education in the innovation process are only weakly developed. Four hundred science, engineering and technology academics from eight of Egypt’s private and public universities were …