Business Commons^™

The Exchange Rate Mechanism And The Ruble Devaluation Of 1998, Philip Porter

University Avenue Undergraduate Journal of Economics

I will first examine what I see as the common sense fundamentals of the exchange rate mechanism, noting as I go, the relationship with the current Russian crisis. In my examination, I will take the simplest approach, assuming free trade, unrestricted capital movements and negligible transaction costs. Concluding, I will delve into the quagmire of the Russian situation.

What Does Smart Growth Mean For Housing?, Karen A. Danielsen, Robert E. Lang, William Fulton

Public Policy and Leadership Faculty Research

Barely noticed amid the returns from the 1998 midterm elections was a quiet revolution that goes to the heart of how and where Americans live. While most news accounts focused on the high-profile candidate elections, voters across the nation-in Democratic and Republican areas alike-approved more than 160 state and local ballot measures intended to preserve open space and limit urban sprawl.

The coalition forming around the idea of limiting sprawl includes environmentalists, farmers, big-city mayors, and some developers. But perhaps most important, the so-called "smart growth" movement also includes many suburban voters who are fed up with growth. For example, …

Central Bank Of Nigeria Statistical Bulletin, December 1998, Central Bank Of Nigeria

CBN Statistical Bulletin

The explanatory notes outline the methods for compiling financial, public finance, national accounts, and international trade statistics in Nigeria. Financial statistics are compiled from balance sheets and financial statements, covering lending and deposit interest rates, bank liquidity, and clearing house statistics. Public finance statistics include government revenue, expenditure, and debt, as well as debt conversion programs and promissory notes. National accounts are based on the System of National Accounts and include data on GDP, Gross Fixed Capital Formation, consumption expenditure, and Gross National Savings. International trade statistics measure the value and quantity of imports and exports, presented in the Standard …

Industrial Resources: Rowan County - Morehead, Kentucky Library Research Collections

Rowan County

"Resources for Economic Development: Morehead, [Kentucky]" prepared by the Kentucky Cabinet for Economic Development, Division of Research in cooperation with the Morehead/Rowan County Economic Development Council, Inc., December 1998. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, duel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Hart County, Kentucky Library Research Collections

Hart County

"Resources for Economic Development: Hart County, [Kentucky]" prepared by the Kentucky Cabinet for Economic Development, Division of Research in cooperation with the Hart County Chamber of Commerce/Industrial Authority, December 1998. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Marion County - Lebanon, Kentucky Library Research Collection

Marion County

"Resources for Economic Development: Lebanon, [Kentucky]" prepared by the Kentucky Cabinet for Economic Development, Division of Research in cooperation Lebanon/Marion County Economic Development Office, December 1998. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Mason County - Maysville, Kentucky Library Research Collections

Mason County

"Resources for Economic Development: Maysville, [Kentucky]" prepared by the Kentucky Cabinet for Economic Development, Division of Research in cooperation with the Maysville-Mason County Industrial Authority, December 1998. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

A Political Model Of Monetary Policy With Application To The Real Fed Funds Rate, Tony Caporale, Kevin B. Grier

Economics and Finance Faculty Publications

We construct an empirical model of U.S. monetary policy assuming that the Federal Reserve is an ordinary federal bureaucracy. We use the real Federal Funds rate as our policy measure and show the existence of significant executive, legislative, and bureaucratic influence on the real rate of interest from 1961 to 1996. We find that presidential party is an adequate statistical measure of executive influence and that the voting scores of the Senate Banking Committee leadership best represent legislative influence. We argue that political changes cause systematic and predictable changes in monetary policy.

Industrial Resources: Union County, Kentucky Library Research Collections

Union County

"Resources for Economic Development: Union County, [Kentucky]" prepared by the Kentucky Cabinet for Economic Development, Division of Research in cooperation with the Union County Economic Development Foundation, Inc., October 1998. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate

Industrial Resources - Fulton County - Fulton, Kentucky Library Research Collections

Fulton County

"Resources for Economic Development: Fulton County, Kentucky” prepared by the Kentucky Cabinet for Economic Development, Division of Research, and the Fulton County Economic Development Partnership, 1998. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Crittenden County - Marion, Kentucky Library Research Collections

Crittenden County

"Resources for Economic Development: Marion (Crittenden County), Kentucky" prepared by the Kentucky Cabinet for Economic Development, Division of Research, and the Crittenden County Economic Development Corporation, 1998. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources - Edmonson County, Kentucky Library Research Collections

Edmonson County

"Resources for Economic Development: Edmonson County, Kentucky" prepared by the Kentucky Cabinet for Economic Development, Division of Research, and the Brownsville/Edmonson County Chamber of Commerce, 1998. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Logan County, Kentucky Library Research Collection

Logan County

"Resources for Economic Development: Logan County" prepared by the Kentucky Cabinet for Economic Development, Division or Research in cooperation with the Logan County Economic Development Commission, October 1998. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Webster County, Kentucky Library Research Collections

Webster County

"Resources for Economic Development: Webster County, [Kentucky]" prepared by the Kentucky Cabinet for Economic Development, Division of Research in cooperation with the Webster County Economic Development Corporation, October 1998. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Editorial, N Balasubramanian

IIMB Management Review

The opening up of the economy has brought in its wake a surfeit of international brands that are now available to Indian customers. Many of these brands are internationally strong and it is no surprise that the qualitystarved Indian consumer is increasingly turning to these trusted names. What happens to the desi brands that have been assiduously built up by business houses within the country? The Round Table this time looks at this issue and seeks to investigate which way Indian brands are headed. Among the articles presented in this issue are two that address issues relating to rewards. Abhoy …

Multinationals And Subsidiaries, Rishikesha T Krishnan

IIMB Management Review

K Ramachandran, Vice Chairman and Managing Director of Philips India, a subsidiary of the Dutch electronics giant Philips Electronics NV, shares the Philips experience as he speaks on the post-liberalisation scenario and its effects on the Indian market, aspects of the parentsubsidiary relationship and the nuances of restructuring. Opining on business education, he stresses the need to distinguish between 'skills' and 'education'.

Market Reaction To Seasoned Equity Offerings: The Relevance Of Leverage, Growth Opportunities, And Corporate Structure, Mojib U. Ahmed

Theses and Dissertations in Business Administration

Empirical work on the market's reaction to seasoned equity offerings has rarely considered the impact of the issuing firm's leverage level or its corporate structure. This work is an attempt to include these parameters in order to better understand the market's reaction to such issue announcements.

The current finance literature recognizes the fact that leverage plays an important role in assessing the value of the firm. Leverage has both negative and positive impacts on the value of a firm (McConnell and Servaes, 1995), and thus, has both negative and positive impacts on the market's reaction to seasoned equity offerings. This …

Layoffs, Top Executive Pay, And Firm Performance, Kevin F. Hallock

Economics Faculty Publications

This paper examines the connection between layoffs, executive pay, and stock prices. Firms that announce layoffs in the previous year pay their CEOs more, and give their CEOs larger percentage raises than firms which do not have at least one layoff announcement in the previous year. However, the likelihood of announcing a layoff varies dramatically along with other dimensions, for example firm size, which are also correlated with CEO pay. Once firm-specific fixed effects are controlled for, the CEO pay premium for laying off workers disappears. In addition, there is a small negative share price reaction to layoff announcements.

Expenditure Profiles And Marketing Responsiveness Of Nonresident Visitor Groups To Montana, Kim Mcmahon, Kristin Aldred Cheek

Institute for Tourism and Recreation Research Publications

Provides expenditure characteristics of nonresident visitors in Montana during the summer, winter, and shoulder seasons. Examines total expenditures by groups as well as distribution of expenditures by sector of spending. Travel groups are characterized by season of visit, primary reason for trip to Montana, area of travel groups residence, and primary recreation attraction to Montana. Also explores the issue of marketing responsiveness and provides a discussion on which groups are most likely to respond to promotional marketing and why.

Expenditure Profiles And Marketing Responsiveness Of Nonresident Visitor Groups To Montana, Kim Mcmahon, Kristin Aldred Cheek

Institute for Tourism and Recreation Research Publications

Provides expenditure characteristics of nonresident visitors in Montana during the summer, winter, and shoulder seasons. Examines total expenditures by groups as well as distribution of expenditures by sector of spending. Travel groups are characterized by season of visit, primary reason for trip to Montana, area of travel groups residence, and primary recreation attraction to Montana. Also explores the issue of marketing responsiveness and provides a discussion on which groups are most likely to respond to promotional marketing and why.

Winter Nonresident Travelers To Montana: Profiles And Characteristics, Kim Mcmahon, Kristin Aldred Cheek, Rita Black

Institute for Tourism and Recreation Research Publications

Provides characteristics of winter travel groups to Montana during winter 1997-98 in terms of purposes of trip, attractions to the state, activity participation, expenditures, information sources, and other valuable information. The last section of the report contains winter travel marketing suggestions for the state.

Information Systems And Economics, Robert J. Kauffman, Frederick J. Riggins

Research Collection School Of Computing and Information Systems

Do big dollar expenditures on information systems pay off? Friction-free: is that what we really want markets to be? Is it time for consumers to say goodbye to fixed pricing? The Internet creates an environment in which the cost of buyer-seller interactions is cheaper than ever, and consumers can participate in the price-setting process—revealing their willingness to pay—making it the most efficient one-on-one selling environment anywhere, approaching the efficiency of the financial markets. In fact, such transformation is evident throughout the information economy. We see it in the approximately 1,000% annual network growth rates expected by some Internet service providers’ …

Industrial Resources: Ohio County, Kentucky Library Research Collections

Ohio County

"Resources for Economic Development: Ohio County, [Kentucky]" prepared by the Kentucky Cabinet for Economic Development, Division of Research in cooperation in cooperation with the Ohio County Industrial Foundation, Inc., July 1998. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Grayson County - Leitchfield, Kentucky Library Research Collections

Grayson County

"Resources for Economic Development: Grayson County, Kentucky” prepared by the Kentucky Cabinet for Economic Development, Division of Research, and the Leitchfield – Grayson County Local Development Corporation, 1998. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Calloway County - Murray, Kentucky Library Research Collections

Calloway County

"Resources for Economic Development: Murray (Calloway County), Kentucky" prepared by the Kentucky Cabinet for Economic Development, Division of Research, and the Murray - Calloway County Chamber of Commerce, 1998. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Hopkins County - Madisonville, Earlington And Hanson, Kentucky Library Research Collections

Hopkins County

"Resources for Economic Development: Madisonville, Earlington and Hanson, Kentucky" prepared by the Kentucky Cabinet for Economic Development Division of Research in cooperation with Madisonville-Hopkins County Economic Development Corporation and Madisonville-Hopkins County Chamber of Commerce, July 1998.The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, education and health facilitates, housing, communications, recreation, natural resources, markets and climate.

Industrial Resources: Graves County - Mayfield, Kentucky Library Research Collections

Graves County

"Resources for Economic Development: Mayfield, Kentucky” prepared by the Kentucky Cabinet for Economic Development, Division of Research, and the Mayfield – Graves County Local Development Corporation, 1998. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

A Cross-Sectional Analysis Of The Determinants Of Corporate Share Repurchases, Kenneth M. Washer

Doctoral Dissertations

The objective of this study is to determine which motives play a significant role in determining the extent of a firm's repurchasing activity. For firms repurchasing through the open market, the motives include taking advantage of perceived undervaluation, increasing financial leverage, distributing cash to shareholders, and reducing agency costs. For firms using a tender offer, the motives include taking advantage of perceived undervaluation and having the ability to significantly increase financial leverage. Also, the hypothesis that the perceived undervaluation motive is stronger for smaller firms is tested. Three censored regression models are employed, and each model's explanatory variables represent commonly …

Knowledge: The New Republic, K L Chopra

IIMB Management Review

As the societies of the world have progressed from the spoken to the written medium, to the audiovisual and finally to the electronic media for communication, civilisations have undergone enormous changes. With the IT revolution, coupled with an era of globalised economics and commerce, 'knowledge' power, as K L Chopra puts it, will increasingly dominate the governance, social and economic structure and lifestyle of a nation. In this Republic of Knowledge, the 'knowledge worker', 'knowledge engineering' and 'knowledge factories' will play a pivotal role in determining its health and wealth. However, it remains to be seen whether the new Republic …

The New Challenge Of Outdoor Recreation, Roz Mcclellan

Outdoor Recreation: Promise and Peril in the New West (Summer Conference, June 8-10)

5 pages.