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Economics

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Kennesaw State University

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Full-Text Articles in Finance and Financial Management

Monitoring And Employee Shirking: Evidence From Mlb Umpires, John Charles Bradbury Feb 2017

Monitoring And Employee Shirking: Evidence From Mlb Umpires, John Charles Bradbury

Faculty Articles

Standard neoclassical principal-agent theory predicts that stricter monitoring should reduce employee shirking from principal desires; however, recent analyses indicate that social aspects of principal-agent relationships may result in monitoring “crowding out” disciplinary effects. From 2001 to 2008 Major League Baseball (MLB) instituted an automated pitch-tracking system (QuesTec) to assist in monitoring its umpires. The asymmetric implementation of this new monitoring technology allows for the comparison of monitored and unmonitored umpires to identify shirking to placate on-field lobbying pressure. Estimates identify deviations in calls associated with monitoring; however, overall, umpires appeared to be quite sensitive to league directives for changes in …

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Searching For Illicit Behavior Through Changes In Productivity: The Case Of Roger Clemens And Performance-Enhancing Drugs, John Charles Bradbury Jan 2017

Searching For Illicit Behavior Through Changes In Productivity: The Case Of Roger Clemens And Performance-Enhancing Drugs, John Charles Bradbury

Faculty Articles

Major League Baseball pitcher Roger Clemens has been accused of using performance-enhancing drugs to boost his performance. If Clemens used ergogenic aids consistent with the accusations of use, then unusual changes in productivity may be evident in his performance record. Two previous studies have examined Clemens’s career and reached conflicting conclusions: Bradlow et al. (2008) declares Clemens’s career to be “atypical” while Albert (2009) finds Clemens’s productivity to be unusually strong but similar to other pitchers who have not been linked with performance-enhancing drugs. This study examines Clemens’s performance at times of alleged use and over his career and finds …

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Winning And Other Determinants Of Revenue In North America's Major Professional Sports Leagues, John Charles Bradbury Nov 2016

Winning And Other Determinants Of Revenue In North America's Major Professional Sports Leagues, John Charles Bradbury

Faculty Articles

This study investigates recent determinants of revenue in North America’s four major professional sports leagues. Estimates reveal that revenue is positively associated with winning in baseball (MLB), basketball (NBA), and hockey (NHL), but not in football (NFL). The returns to winning are not diminishing as commonly assumed, which casts doubt on the uncertainty of outcome hypothesis, and differences across leagues are consistent with revenue sharing arrangements. Estimates also indicate a strong negative relationship between stadium age and revenue, which is consistent with observed rapid replacement of sports stadiums. The results have several important implications for economic models of sports leagues.

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The Impact Of Rural Pensions In China On Labor Migration, Karen Eggleson, Ang Sun, Zhaoguo Zhan Jul 2016

The Impact Of Rural Pensions In China On Labor Migration, Karen Eggleson, Ang Sun, Zhaoguo Zhan

Faculty Articles

We study the impact of China’s new rural pension program on promoting migration of labor by applying a regression discontinuity analysis to this new pension program. The results reveal a perceptible difference in labor migration among adult children whose parents are just above and below the age of pension eligibility: The adult children with a parent just attaining the pension-eligible age are more likely to be labor migrants compared with those with a parent just below the pension-eligible age. We also find that with a pension-eligible parent, the adult children are more likely to have off-farm jobs. These abrupt changes …

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Intangible Investments And The Pricing Of Corporate Sga Expenses, Rongbing Huang, Gim S. Seow, Joe S. Shangguan Oct 2011

Intangible Investments And The Pricing Of Corporate Sga Expenses, Rongbing Huang, Gim S. Seow, Joe S. Shangguan

Faculty Articles

This study examined whether the market fully prices the reported Selling, General, and Administrative (SGA) expenses when this item includes an intangible investment component. For a sample of intangible investment-intensive firms, we showed that their SGA expenses benefit future operating performances. Evidence suggests some degree of market inefficiency in the pricing of SGA expenses and the intangible investment component. Furthermore, the financial analysts do not appear to appreciate fully the future benefits of the component in their earnings forecasts. Finally, the pertinent disclosures in firms’ annual reports are so inadequate as to attenuate the market mispricing, suggesting a significant room …

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Mills B. Lane, Jr. And Enterprise In A New South, Randall L. Patton Jan 2009

Mills B. Lane, Jr. And Enterprise In A New South, Randall L. Patton

Faculty Articles

For a century, Citizens & Southern Bank was a fixture in Georgia. In 1991, the C&S brand name disappeared in a merger with North Carolina National Bank. This was one of the bittersweet consequences of the slow, confusing swirl of bank deregulation after 1970, when institutions such as C&S simply disappeared, swallowed by the "winners" in the new competitive environment of interstate banking in the 1980s and 1990s. Even earlier, however, the Lane family had ceased to control the bank started by Mills Lane, Sr. in 1891. Mills B. Lane, Jr. was the last member of the Lane family to …

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