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Articles 1 - 17 of 17
Full-Text Articles in Business
Modeling Longitudinal Data Using A Pair-Copula Decomposition Of Serial Dependence, Michael S. Smith, Aleksey Min, Carlos Almeida, Claudia Czado
Modeling Longitudinal Data Using A Pair-Copula Decomposition Of Serial Dependence, Michael S. Smith, Aleksey Min, Carlos Almeida, Claudia Czado
Michael Stanley Smith
Copulas have proven to be very successful tools for the flexible modelling of cross-sectional dependence. In this paper we express the dependence structure of continuous-valued time series data using a sequence of bivariate copulas. This corresponds to a type of decomposition recently called a ‘vine’ in the graphical models literature, where each copula is entitled a ‘pair-copula’. We propose a Bayesian approach for the estimation of this dependence structure for longitudinal data. Bayesian selection ideas are used to identify any independence pair-copulas, with the end result being a parsimonious representation of a time-inhomogeneous Markov process of varying order. Estimates are …
Can Leaders Step Outside Of The Gender Box? An Examination Of Leadership And Gender Role Stereotypes, Margaret Y. Padgett, Craig B. Caldwell, Andrew Embry
Can Leaders Step Outside Of The Gender Box? An Examination Of Leadership And Gender Role Stereotypes, Margaret Y. Padgett, Craig B. Caldwell, Andrew Embry
Craig B. Caldwell
This study examined gender stereotypes for leaders using a more indirect method than is typical in stereotype research. Rather than reveal the leader's gender, this study used vignettes in which the leader's gender was unknown. Consistent with their hypothesis, the authors found that participants were more likely to infer a male (female) gender identity than a female (male) gender identity when presented with a leader using a masculine (feminine) style. They also hypothesized that a leader using a gender-consistent leadership style would be viewed more positively than a leader using a gender-inconsistent style. Contrary to this hypothesis, results revealed that …
Can Leaders Step Outside Of The Gender Box? An Examination Of Leadership And Gender Role Stereotypes, Margaret Padgett, Craig Caldwell, Andrew Embry
Can Leaders Step Outside Of The Gender Box? An Examination Of Leadership And Gender Role Stereotypes, Margaret Padgett, Craig Caldwell, Andrew Embry
Margaret Y. Padgett
This study examined gender stereotypes for leaders using a more indirect method than is typical in stereotype research. Rather than reveal the leader's gender, this study used vignettes in which the leader's gender was unknown. Consistent with their hypothesis, the authors found that participants were more likely to infer a male (female) gender identity than a female (male) gender identity when presented with a leader using a masculine (feminine) style. They also hypothesized that a leader using a gender-consistent leadership style would be viewed more positively than a leader using a gender-inconsistent style. Contrary to this hypothesis, results revealed that …
Computational Exploration Of The Biological Basis Of Black-Scholes Expected Utility Function, Sukanto Bhattacharya, Kuldeep Kumar
Computational Exploration Of The Biological Basis Of Black-Scholes Expected Utility Function, Sukanto Bhattacharya, Kuldeep Kumar
Kuldeep Kumar
It has often been argued that there exists an underlying biological basis of utility functions. Taking this line of argument a step further in this paper, we have aimed to computationally demonstrate the biological basis of the Black-Scholes functional form as applied to classical option pricing and hedging theory. The evolutionary optimality of the classical Black-Scholes function has been computationally established by means of a haploid genetic algorithm model. The objective was to minimize the dynamic hedging error for a portfolio of assets that is built to replicate the payoff from a European multi-asset option. The functional form that is …
Business Failure Prediction Using Decision Trees, Adrian Gepp, Kuldeep Kumar, Sukanto Bhattacharya
Business Failure Prediction Using Decision Trees, Adrian Gepp, Kuldeep Kumar, Sukanto Bhattacharya
Kuldeep Kumar
Accurate business failure prediction models would be extremely valuable to many industry sectors, particularly financial investment and lending. The potential value of such models is emphasised by the extremely costly failure of high-profile companies in the recent past. Consequently, a significant interest has been generated in business failure prediction within academia as well as in the finance industry. Statistical business failure prediction models attempt to predict the failure or success of a business. Discriminant and logit analyses have traditionally been the most popular approaches, but there are also a range of promising non-parametric techniques that can alternatively be applied. In …
Innate And Discretionary Accruals Quality And Corporate Governance, Pamela Kent, James Routledge, Jenny Stewart
Innate And Discretionary Accruals Quality And Corporate Governance, Pamela Kent, James Routledge, Jenny Stewart
Pamela Kent
This paper extends previous research on the association between corporate governance mechanisms and accruals quality. We derive measures of the discretionary and innate components of accruals quality and regress them against corporate governance characteristics. For discretionary accruals, we find use of a Big 4 audit firm and a larger audit committee as the primary governance mechanisms associated with higher accruals quality. For innate accruals quality, we find that higher quality is associated with an independent board of directors, a larger, more independent and more active audit committee, and use of a Big 4 audit firm. Our findings suggest a stronger …
Natural Environment, Market Orientation, And Firm Innovativeness: A Life Cycle Perspective, Clay Dibrell, Justin Craig, Eric Hansen
Natural Environment, Market Orientation, And Firm Innovativeness: A Life Cycle Perspective, Clay Dibrell, Justin Craig, Eric Hansen
Justin B. Craig
We investigate the moderating effects of the natural environment on the market orientation to firm innovativeness relationship in growth versus mature firms. 237 owners or chief executive officer respondents allowed us to establish evidence of (1) positive linkage between market orientation and firm innovativeness and (2) natural environmental policy moderates the market orientation to firm innovativeness relationship in growth ventures and not in their more mature peers. Our findings suggest ventures characterized as being in the growth stage are more likely to employ a more positive policy toward the natural environment to gain a long-term competitive advantage through firm innovativeness.
The Performance Implications Of Temporal Orientation And Information Technology In Organization-Environment Synergy, Clay Dibrell, Peter Davis, Justin Craig
The Performance Implications Of Temporal Orientation And Information Technology In Organization-Environment Synergy, Clay Dibrell, Peter Davis, Justin Craig
Justin B. Craig
Purpose: This paper aims to provide new evidence regarding the firm performance implications of using temporal orientation (time pacing) and information technology (IT) to align an organization with its task environment.
Design/methodology/approach: Using questionnaire data provided by top management team members, the results indicate that time-based strategies (i.e. time pacing) and IT mediate the effects of environmental disruptions on performance. To validate the scales and to test the hypothesized model of relationships, the study employs structural equation modeling through LISREL 8.52, as it is able to examine both the measurement and structural model simultaneously while including individual errors for the …
When Is Command-And-Control Efficient? Institutions, Technology And The Comparative Efficiency Of Alternative Regulatory Regimes For Environmental Protection, Peter Z. Grossman, Daniel H. Cole
When Is Command-And-Control Efficient? Institutions, Technology And The Comparative Efficiency Of Alternative Regulatory Regimes For Environmental Protection, Peter Z. Grossman, Daniel H. Cole
Peter Z. Grossman
The nominal efficiency of a regulatory regime is determined by comparing its social costs and benefits; the regime is nominally efficient if it produces benefits in excess of its costs. Thus, a regulatory regime can be at once nominally efficient and relatively inefficient. A regulatory regime that is nominally efficient in the early days of pollution-control efforts, when increments of environmental quality are relatively cheap, may (but will not necessarily) grow less efficient over time - producing less return on each dollar invested - as increments of environmental quality grow increasingly expensive. A regulatory regime that is more efficient in …
Where All The Children Are Above Average: A Meta Analysis Of The Performance Appraisal Purpose Affect, J. Jawahar, Chuck R. Williams
Where All The Children Are Above Average: A Meta Analysis Of The Performance Appraisal Purpose Affect, J. Jawahar, Chuck R. Williams
Chuck R Williams
More than 40 years ago, Taylor and Wherry (1951) hypothesized that performance appraisal ratings obtained for administrative purposes, such as pay raises or promotions, would be more lenient than ratings obtained for research, feedback, or employee development purposes. However, research on appraisal purpose has yielded inconsistent results, with roughly half of such studies supporting this hypothesis and the other half refuting it. To account for those differences, a meta-analysis of performance appraisal purpose research was conducted with 22 studies and a total sample size of 57,775. Our results support Taylor and Wherry's hypothesis as performance evaluations obtained for administrative purposes …
Ontology-Based Information Extraction For Analyzing It Services, Amit Deokar, Sagnika Sen
Ontology-Based Information Extraction For Analyzing It Services, Amit Deokar, Sagnika Sen
Amit Deokar
Service Level Agreements (SLA) for multi-service Information Technology (IT) outsourcing contracts contain vast amounts of textual information. The SLAs provide details about a specific service, Key Performance Indicators (KPI) to measure its performance; as well as process elements, such as activities, events, and resources that are integral in achieving performance goals. However, KPIs and the process elements may be interrelated. The knowledge of such interrelationships is often tacitly present in the SLAs. The aim of our research is to extract this hidden information from IT service contracts and analyze them to empower customers of IT services to make better performance …
Hospital Capacity Planning For Efficient Disaster Mitigation During An Earthquake, Pengfei Yi, Santosh George, Jomon Aliyas Paul, Li Lin
Hospital Capacity Planning For Efficient Disaster Mitigation During An Earthquake, Pengfei Yi, Santosh George, Jomon Aliyas Paul, Li Lin
Jomon Aliyas Paul
Hospitals are an integral part of a society’s critical functions designed to respond to man-made and natural disasters. Effective hospital capacity planning can significantly enhance the capability and effectiveness of treatment for emergency patients with injuries resulting from a disaster. Such information can be used for patient/ambulance routing, resource planning, and emergency operations management. In the current paper, we develop a generic simulation model that is capable of representing the operations of a wide range of hospitals given an earthquake disaster situation. Using results from our simulations, generalized regression equations are fitted to obtain steady-state hospital capacities. A parametric metamodel …
Models For Solving Emergency Room Crisis., Jomon Aliyas Paul, Kedar Sambhoos
Models For Solving Emergency Room Crisis., Jomon Aliyas Paul, Kedar Sambhoos
Jomon Aliyas Paul
Emergency Departments (ED) across United States are distraught with issues like overcrowding, ambulance diversion, medical errors, patient left without being seen etc. The primary cause for all these interrelated problems is artificial variability that results mainly because of inaccurate severity estimation leading to inappropriate bed allocation and final disposition. To this effect, we propose Bayesian decision support tools that accurately classify new incoming patients into different severity types based on their chief complaints and at the same time assist doctors in subsequent diagnosis and disposition of patients. These tools are developed based on the decision making principles of attending physicians …
Dynamic Pickup And Delivery Problems, Gerardo Berbeglia
Dynamic Pickup And Delivery Problems, Gerardo Berbeglia
Gerardo Berbeglia
No abstract provided.
Business Failure Prediction Using Decision Trees, Adrian Gepp, Kumar Kuldeep, Sukanto Bhattacharya
Business Failure Prediction Using Decision Trees, Adrian Gepp, Kumar Kuldeep, Sukanto Bhattacharya
Adrian Gepp
Accurate business failure prediction models would be extremely valuable to many industry sectors, particularly financial investment and lending. The potential value of such models is emphasised by the extremely costly failure of high-profile companies in the recent past. Consequently, a significant interest has been generated in business failure prediction within academia as well as in the finance industry. Statistical business failure prediction models attempt to predict the failure or success of a business. Discriminant and logit analyses have traditionally been the most popular approaches, but there are also a range of promising non-parametric techniques that can alternatively be applied. In …
Roads Or Radar: The Tradeoff Between Investments In Infrastructure And Forecasting When Facing Hurricane Risk, Eric Bickel, Seong Dae Kim
Roads Or Radar: The Tradeoff Between Investments In Infrastructure And Forecasting When Facing Hurricane Risk, Eric Bickel, Seong Dae Kim
Eric Bickel
When faced with a significant risk, society must decide howmuch to invest in prediction and response. For example, in the face of hurricane risk how much should we invest in better forecasting versus increased evacuation speed? To address this need, we develop a Markov decision processes model to analyze the interaction between the emergency response system and the emergency forecasting system. The model shows the tradeoff between the two investments given a budget limit. In addition, the research indicates that the superiority of the investment changes sharply by the lead time.
Bayesian Inference For A Periodic Stochastic Volatility Model Of Intraday Electricity Prices, Michael S. Smith
Bayesian Inference For A Periodic Stochastic Volatility Model Of Intraday Electricity Prices, Michael S. Smith
Michael Stanley Smith
The Gaussian stochastic volatility model is extended to allow for periodic autoregressions (PAR) in both the level and log-volatility process. Each PAR is represented as a first order vector autoregression for a longitudinal vector of length equal to the period. The periodic stochastic volatility model is therefore expressed as a multivariate stochastic volatility model. Bayesian posterior inference is computed using a Markov chain Monte Carlo scheme for the multivariate representation. A circular prior that exploits the periodicity is suggested for the log-variance of the log-volatilities. The approach is applied to estimate a periodic stochastic volatility model for half-hourly electricity prices …