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The Price-Earnings Relative As An Indicator Of Investment Returns, John W. Peavy, Iii, David A. Goodman Jan 1981

The Price-Earnings Relative As An Indicator Of Investment Returns, John W. Peavy, Iii, David A. Goodman

Historical Working Papers

The use of the price-earnings relative indicator (PER) is examined to assess its utility in evaluating stock returns for similarly performing firms. The measure does seem to be a valid predictor of investment returns and eliminate bias between firms within the same industry.


Merchandising Decisions: A New View Of Planning And Measuring Performance, Michael Levy, Charles Ingene Jan 1981

Merchandising Decisions: A New View Of Planning And Measuring Performance, Michael Levy, Charles Ingene

Historical Working Papers

Expanding the scope of factors considered in evaluating return on investment can assist front line managers in making realistic decisions about inventory. Several factors that directly account for profitability and are within the purview of front line managers are discussed and means of optimizing their relationships are discussed.


Job Redesign: Improving The Quality Of Working Life, John W. Slocum, Jr. Jan 1981

Job Redesign: Improving The Quality Of Working Life, John W. Slocum, Jr.

Historical Working Papers

Whenever a job is changed, a manager has a chance to increase both the quality of the employees• work I ife and their on-the-job productivity. This manuscript briefly reviews the salient concepts in the .iob redesign I iterature and permits the reader to undertake a job redesign program . Actua l company data are provided that indicate the effectiveness of the company's strategy .


Solution Strategies And Algorithm Behavior In Large-Scale Network Codes, Richard S. Barr Jan 1981

Solution Strategies And Algorithm Behavior In Large-Scale Network Codes, Richard S. Barr

Historical Working Papers

No abstract provided.


Strategic Management For Wholesalers: An Environmental Management Perspective, William L. Cron, Valerie A. Zeithaml Jan 1981

Strategic Management For Wholesalers: An Environmental Management Perspective, William L. Cron, Valerie A. Zeithaml

Historical Working Papers

The purpose of this paper is to propose that environmental management, a conceptual framework from the organizational policy and strategy literature, can function as a useful paradigm for wholesalers who desire to adopt a long-range planning perspective. This perspective, often called strategic management, may be critical to the success and survival of firms in the 1980's as economic, political, competitive, regulatory, and societal forces exert increasing impact on their performance levels.


Modeling Earnings Behavior, Michael F. Van Breda Jan 1981

Modeling Earnings Behavior, Michael F. Van Breda

Historical Working Papers

The differences between the economic rate of return measure and the accounting rate of return measure are explored. The economic rate is based on expectation where the accounting rate is based on actual events. The accounting system filters return data by averaging and other processes to create a slow rate of reversion.


The Dimensions Of Self-Management, David Goodman, Leland M. Wooton Jan 1981

The Dimensions Of Self-Management, David Goodman, Leland M. Wooton

Historical Working Papers

The concepts that differentiate self-management from authority-based management are explored. A survey, used to assess how executives view self- management, demonstrates relatively strong support for the notion. An overall analysis suggests that in the post WWII era, democracy in the work place and self-fulfillment elements in work design are gradually displacing classic American management and are now allied with the American value of individualism.


Price-Earnings Relatives - A New Twist To The Low-Multiple Strategy, John W. Peavy, Iii, David A. Goodman Jan 1981

Price-Earnings Relatives - A New Twist To The Low-Multiple Strategy, John W. Peavy, Iii, David A. Goodman

Historical Working Papers

Authors support the notion that companies with low price-earning ratios make excellent investments with above normal returns balanced by lower than normal risk.


The Sensitivity Of Policy Elasticities To The Time Period Examined In The St. Louis Equation And Other Tests., Frank J. Bonello, William R. Reichenstein Jan 1981

The Sensitivity Of Policy Elasticities To The Time Period Examined In The St. Louis Equation And Other Tests., Frank J. Bonello, William R. Reichenstein

Historical Working Papers

Using the reduced form equation of the St. Louis Fed's monetarist macroeconomic model, we examine the sensitivity of monetary and fiscal policy elasticity estimates to the empirical estimation technique, to the assumed lengths of policy lags, and. to the time period studied. The empirical results are not very sensitive to the first two factors, but the results are quite sensitive to the time period examined. Two plausible explanations for the divergent results are considered and examined and the implications of the divergent results for the usefulness of the St. Louis model is discussed •


Budgeting Capital For R & D: An Application Of Option Pricing, John W. Kensinger Jan 1980

Budgeting Capital For R & D: An Application Of Option Pricing, John W. Kensinger

Historical Working Papers

This paper presents the insight that R&R investments are "natural" options, and examines the extent to which they can be valued using currently available option pricing models. The nature of the industrial research effort determines whether the appropriate model is based on a diffusion process or a jump process. The option model based on the former is sufficiently developed to satisfactorily deal with the direct benefits of R&D, while the model base on the latter presents several problems. Furthermore, indirect benefits are not captured in these models. These applications and shortcomings are examined in detail in the hope of not …


Correlates Of Climate Discrepancy, William F. Joyce, John W. Slocum, Jr. Jan 1980

Correlates Of Climate Discrepancy, William F. Joyce, John W. Slocum, Jr.

Historical Working Papers

Foremen from three truck manufacturing plants were assessed for performance, job satisfaction, and psychological climate in order to gain understanding of the differences between a concensus perspective of organizational climate and individual perceptions of climate. A measure of climate discrepancy seems to be a better predictor of performance than a measure of organizational climate.


Strategies Of Growth: Forms, Characteristics And Returns, Richard D. Miller Jan 1980

Strategies Of Growth: Forms, Characteristics And Returns, Richard D. Miller

Historical Working Papers

Using a sample of retail firms that have different product lines and a variety of geographic scopes, the study assesses the effect of geographic scope and breadth of product on economic performance.


Project Abandonment As A Put Option: Dealing With The Capital Investment Decision And Operating Risk Using Option Pricing Theory, John W. Kensinger Jan 1980

Project Abandonment As A Put Option: Dealing With The Capital Investment Decision And Operating Risk Using Option Pricing Theory, John W. Kensinger

Historical Working Papers

The possibility of liquidating assets used in a capital project are modeled as a "put" option in order to properly incorporate the qualities of the assets in the total valuation and assessment of risk in the project. Where assets can be diverted to other uses, abandonment of the project carries less risk than if the assets expired.


The Information Needs Of Business With Special Application To Managerial Decision Making, Paul Gray Jan 1980

The Information Needs Of Business With Special Application To Managerial Decision Making, Paul Gray

Historical Working Papers

Current developments in computing and telecommunications are discussed and the implications for management decision making are explored.


New Efficient Equations To Compute The Presentvalue Of Morgage Interest Payments And Accelerated Depreciation Tax Benefits, Elbert B. Greynolds, Jr. Jan 1980

New Efficient Equations To Compute The Presentvalue Of Morgage Interest Payments And Accelerated Depreciation Tax Benefits, Elbert B. Greynolds, Jr.

Historical Working Papers

Equations are presented that allow students to quickly calculate present value for mortgage payments and depreciation tax benefits. Calculations can be done witha hand calculator that has a Y x(exponent) function.


Comparison Of The Eeocc Four-Fifths Rule And A One, Two Or Three Binomial Criterion, Marion Gross Sobol, Paul Ellard Jan 1980

Comparison Of The Eeocc Four-Fifths Rule And A One, Two Or Three Binomial Criterion, Marion Gross Sobol, Paul Ellard

Historical Working Papers

The amount of error is examined in using the four-fifths rule or the standard deviation to decide court cases which deal with discrimination. Since one, two or three standard deviations may be used as a criterion, it becomes apparent that it is possible for players in a court case to "game" the scenarios and use statistics to support their case. It is suggested that courts adopt a statistical standard in addition to the four-fifths rule in order to minimize the game playing.


Hedging Uncertain Foreign Exchange Positions, Mark R. Eaker, Dwight M. Grant Jan 1980

Hedging Uncertain Foreign Exchange Positions, Mark R. Eaker, Dwight M. Grant

Historical Working Papers

A strategy is outlined for hedging foreign exchange currency.


The Interrelationships Between Banking Returns And Risks, George H. Hempel Jan 1980

The Interrelationships Between Banking Returns And Risks, George H. Hempel

Historical Working Papers

Using a model of a fictitious bank, various risks and associated returns are modeled to evaluate the impact on overall bank performance. The underlying truism that additional risk is necessary to realize increased returns is observed.


Person-Situation Interaction: An Exploration, William F. Joyce, John W. Slocum Jr., Mary Ann Von Glinow Jan 1980

Person-Situation Interaction: An Exploration, William F. Joyce, John W. Slocum Jr., Mary Ann Von Glinow

Historical Working Papers

Data from foremen working in 3 plants owned by one manufacturing firm were surveyed to assess work climate, job satisfaction, achievement and motivating potential. Results were used to build a taxonomy for classifying patterns of fit between persons and situations. Three congruency models are used to interpret the data and interpretation seems to support the need to weigh environmental variables fully in examining performance.