Business Commons^™

Partisan Monetary Policies: Presidential Influence Through The Power Of Appointment, Henry W. Chappell, Thomas M. Havrilesky, Rob Roy Mcgregor

Faculty Publications

We investigate the channels through which partisan influence from a Presidential administration could affect monetary policy-making.Influence could be a result of direct Presidential pressure exerted on members of the Federal Open Market Committee (FOMC), or it could be a result of partisan considerations in Presidential appointments to the Board of Governors. To investigate these two channels of influence, we devise and apply a method for estimating parameters of monetary policy reaction functions that can vary across individual members of the FOMC Our results suggest that the appointments process is the primary mechanism by which partisan differences in monetary policies arise.

Aggregate Vote Functions For The Us. Presidency, Senate, And House, Henry W. Chappell, Motoshi Suzuki

Faculty Publications

Estimates vote functions for presidential, House and Senate elections following the premise that vote functions are likely to be related. Use of a seemingly unrelated regressions technique adapted to the case of unequal numbers of observations across equations; On-year versus mid-term congressional elections parameters; Influence of economic variables on election outcomes; Incumbency effects.

Accounting Tutor: Intelligent Computer-Aided Instruction, Rayman D. Meservy

Faculty Publications

This study investigates several development of intelligent issues central to tutoring systems: the ( 1) representing domain knowledge, (2) representing instructional knowledge, (3) modeling student learning, and (4) developing userfriendly interfaces. The focus of domain learning tasks includes accounting basics, often covered in the first few chapters of an accounting principles course.

Empirical Implications For Small Business Drug Policies, Donald R. Curtis, Dillard Tinsley, Geralyn Mcclure Franklin

Faculty Publications

The results of empirical studies of small and large businesses parallel each other regarding the characteristics of drug policies. Drug policies affect organizational performance, including improved productivity and reduced accidents. EAPs are an effective approach to drug policies. and outside contractors are common sources of information and services. Pre-employment testing is usually combined with other types of testing, but careful attention is needed to meet legal requirements. Employees with positive tests may cause difficulties, but, overall. employee morale rises. Small businesses without drug policies are increasing their competitive risks.

Basic Concepts In Forest Valuation And Investment Analysis, Steven H. Bullard, Thomas J. Straka

Faculty Publications

The current edition 3.0 can be found at the following location:

Bullard, Steven H. and Straka, Thomas J., "Basic Concepts in Forest Valuation and Investment Analysis" (2011) eBooks http://scholarworks.sfasu.edu/ebooks/21

This book was originally intended to supplement lectures in forestry economics at the undergraduate level. At Mississippi State University, for example, these materials are currently used in one of the eleven major topics included in a one-semester course titled 'Forest Resource Economics.' It is also intended, however, that the book will serve as a basic reference for foresters with experience in valuation concepts and terminology. It has proven to be a …

Discovering The Unique Synergy Potential Of Undergraduate Research And Tourism Service Needs, Deirdre Gibbons, Brian J. Hill

Faculty Publications

This paper explores the needs and benefits for using undergraduates as a resource at tourism University Centers. The purpose of undergraduate tourism programs varies, but programs strive to combine theory with application, and research plays a role in this process. Undergraduates stand to benefit from the managerial and decision-making skills they can learn through research. The number of university tourism research centers has increased worldwide. These centers often function on small budgets and have limited research centers, yet their services and clientele · base are increasing. This paper explores how some universities have involved undergraduates in university tourism research, focusing …

S Corporation Current Developments, Annette M. Nellen, S. S. Karlinsky

Faculty Publications

No abstract provided.

Unobserved Ability, Efficiency Wages, And Interindustry Wage Differentials, Mckinley L. Blackburn, David Neumark

Faculty Publications

One competitive-market explanation of interindustry wage differentials that is not challenged by the persistence of these differentials is that they are due to differences across workers in unobserved ability or quality. In contrast, this paper explores the unobserved ability hypothesis by using test scores as error-ridden indicators of ability, and family background variables as instruments.This approach avoids two potential problems with using first-difference methods to remove omitted-ability bias from wage equation estimates of industry effects the exacerbation of measurement error from misclassification of industry, and selectivity with respect to industry changes. However, this approach may introduce other problems, for two …

Some Evidence On The Empirical Significance Of Credit Rationing, Allen N. Berger, Gregory F. Udell

Faculty Publications

This paper examines the credit rationing debate using detailed contract information on over one million commercial bank loans from 1977 to 1988. While commercial loan rates are "Sticky," consistent with rationing, this stickiness varies with loan contract terms in ways that are not predicted by equilibrium credit rationing theory. In addition, the proportion of new loans issued under commitment does not increase significantly when credit markets are tight, despite the fact that borrowers without commitments can be rationed whereas commitment borrowers are contractually insulated from rationing. Overall, the data suggest that equilibrium rationing is not a significant macroeconomic phenomenon.

Liquidity Costs And Stock Price Response To Convertible Security Calls, Michael A. Mazzeo, William T. Moore

Faculty Publications

Firms' announcements to call in-the-money convertible securities for redemption essentially force their conversion into common stock, and such announcements are generally met with significant reductions in the calling firms' equity values. An explanation based on liquidity costs is advanced and tested. The explanation implies that investors who choose to sell their shares early in the conversion period bear liquidity costs by selling at reduced prices. Consistent with the explanation, the average share price decline is short-lived, lasting most of the conversion period. Thus, a component of the call announcement effect appears to be due to liquidity costs.

An Attributional Analysis Of Resistance To Group Pressure Regarding Illicit Drug And Alcohol Consumption, Randall L. Rose, William O. Bearden, Jesse E. Teel

Faculty Publications

This article investigates the role of attributional thinking in generating resistance to pressures toward conformity in the illicit consumption of drugs and alcohol. The results of four studies regarding how conformity influences illicit drug and alcohol consumption among high school and college students are reported. In study 1 more than two-thirds of the respondents reported concern for the implications of their own dissent or compliance regarding the reactions of their peers. Study 2 demonstrated a significant relationship between high school students' attributional thinking concerning a peer group's illicit beer consumption and conformity, expressed as intentions to drink the beer. In …

Sbi Intervention: An Old Problem- A New Perspective, William T. Jackson, George S. Vozikis, Emin Babakus

Faculty Publications

This research effort attempted to determine if SB/ intervention would change the perception of business problems by not only the business owner but also the student consultants. This focus further to encompassed firms that could be classified in either Stage I or Stage II of development. Even though there were no changes in perception by student consultants, and mixed results of whether stage development affected perceptual differences, strong support was given to the proposition that owners, overall, did change their perception of existing problems after SBI intervention.

Raw Materials Use By Mississippi Furniture Manufacturers, 1989, Mark A. Glaeser, Steven H. Bullard, Larry Doolittle, Philip Steele

Faculty Publications

Mississippi's furniture industry has grown rapidly in recent years and now ranks nationally in production of specific types of furniture. Furniture pmducers in the state use many types of wood and nonwood raw materials. Raw materials expenditures were almost $330 million for 92 firms that responded to a 1989 survey. The survey included upholstered and nonupholstered furniture producers as well as hardwood dimension and frame producers. Substantial amounts of these raw materials were obtained from suppliers within the state.

Upholstered Expenditures: What U.S. And Canadian Consumers Plan To Spend On Upholstered Furniture, Gary M. Kellum, Eric J. Todd, Steven H. Bullard

Faculty Publications

Approximately 48 percent of U. S. households and 54 percent of Canadian households plan to buy some form of upholstered furniture in the near future. According to a recent survey, spending plans differ somewhat between U. S. and Canadian consumers, however. American consumers, for example, favor less expensive sofas, loveseats, and recliners, while Canadians prefer less expensive upholstered rockers and stationary chairs. Overall, Canadian households plan to spend more for each individual item than U. S. households.

Optimal Response To Periodic Shortage: Engineering/Economic Analysis For A Large Urban Water District, Anthony Fisher, David Fullerton, Nile Hatch, Peter Reinelt

Faculty Publications

The problem addressed by this study is how a large urban water district can best respond to a drought or the prospect of a drought. Specifically, what is the least cost combination of alternatives to meet periodic shortages? A solution to this problem may involve structural approaches (such as developing new local storage capacity), a mix of structural and nonstructural (such as conjunctive use combined with water exchanges or sales), or purely nonstructural approaches (such as changes in water pricing). The application is to the East Bay Municipal Utility District (EBMUD), which includes portions of Alameda and Contra Costa counties …

Learn Audit Selection Rules From Data: A Genetic Algorithms Approach, David P. Greene, Rayman D. Meservy, Stephen F. Smith

Faculty Publications

The construction of expert systems typically require the availability of expertise that can be modeled. However, there are many important problems where no expertise exists, yet there is a wealth of data indicating results in different situations. Machine learning algorithms attempt to discover rules which capture the regularities that exists in such data.

Case-Based Reasoning And Risk Assessment In Audit Judgment, Eric L. Denna, James V. Hansen, Rayman D. Meservy, Larry E. Wood

Faculty Publications

The purpose of this paper is to describe the results of an effort to utilize Case Based Reasoning (CBR) to model a specific audit judgment task. To date most efforts to develop computational models of audit judgment have used strictly rule-based representation methods. Some researchers have recently adopted more robust structures to model the auditor domain knowledge. Although these recent efforts to extend the representation methods appear to be more accurate descriptions of auditor reasoning and memory, they still lack a comprehensive. theory to guide the development of the model. A commonly encountered phenomenon in audit judgment is for an …

Development And , Application Of Expert Systems In Audit Services, Eric L. Denna, James V. Hansen, Rayman D. Meservy

Faculty Publications

Professional auditing has become much more complex over the past decade. This development has engendered a need for leveraging auditor expertise. In an attempt to meet this need, public accounting firms have been actively involved in supporting the development and application of artificial intelligence methods in audit services, which forms the foundation of their business. Much of the development and application of artificial intelligence in auditing has taken the form of expert systems. This paper examines the current state of the art and provides a framework for analysis of present work, as well as a guide to future efforts.

Nobody's Grandfather Was A Merchant: Understanding The Soviet Commercial Negotiation Process And Style, Mahesh N. Rajan, J. L. Graham

Faculty Publications

No abstract provided.

Upholstered Household Furniture In The United States: A Survey Of Current Ownership And Purchasing Plans, Steven H. Bullard, Max L. Doolittle

Faculty Publications

This report presents highlights of the results of a telephone survey of U.S. households concerning their ownership, purchasing plans, and preferences regarding upholstered household furniture. The survey was conducted in October and November 1989, by the Survey Research Unit of the Social Science Research Center of the Mississippi Agricultural and Forestry Experiment Station. The SUl'Vey also included Canadian households, and subsequent reports will present results for Canada as well as statistical analyses of specific results for both countries. The sUl'vey was intended to help identify market potential for various items of upholstered household furniture, and the results are therefore not …

The Upholstered, Wood Household Furniture Industry In North America: A Spatial Equilibrium Analysis, Eric J. Todd, Steven H. Bullard

Faculty Publications

Upholstered, wood household furniture production has become an increasingly important part of total furniture production in the United States. From 1982 to 1987, employment in the upholstered furniture industry grew 16 percent, and in 1987, the industry's 82,100 employees represented about 30 percent of U.S. household furniture indush-y employment (USDC Bureau of the Census 1990). Over the same 5-year period, value added for the upholstered furniture industry increased by 52 percent to more than $2.6 billion.

Upholstered Potential In The U.S. And Canada, Gary M. Kellum, Eric J. Todd, Steven H. Bullard

Faculty Publications

The potential market for upholstered furniture sales in the near future appears to be quite favorable in both the United States and Canada. A recent survey indicates that 48 percent of U.S. house· holds,and 54 percent of Canadian households are planning to purchase some type of upholstered furniture in the next 4 to 5 years.

Recliner Sales Potential, Eric J. Todd, Steven H. Bullard

Faculty Publications

Over 19 percent of the 93 million households in the United States plan to purchase at least one recliner within the next 5 years. A recent survey of over 2,000 households also found that many expect to purchase more than one recliner, and combining the estimates yields a potential sales total of 22 million. This compares to an estimated total current ownership of 65 million recliners, and indicates clearly that nationwide the recliner market is very far from being "saturated" in the near future.

A Least Cost Analysis Of Transition In North America’S Upholstered, Wood Household Furniture Industry, Eric J. Todd, Steven H. Bullard

Faculty Publications

Factors influencing the location of the North American upholstered, wood household furniture industry are undergoing many changes. This paper presents a least cost linear programming approach to determining optimal furniture production and shipment patterns, The results suggest that Mexico and the 'East South Central region of the U.S. are well-poised to increase their shares of the North American market as consumption patterns and factors of production change in the next decade.

Age: The Most Important Factor In Upholstered Furniture Buying Plans, Steven H. Bullard

Faculty Publications

Age is highly related to income. lifestyle and other critical factors in consumer behavior. In a recent survey of over 2.000 U.S. households. age proved to be the most important determinant of up· holstered furniture purchasing plans. Consumers less than 45 years old. for example. are more than three times more likely to plan purchases of upholstered household furniture than those 65 and older.

Is Wood Good?, Steven H. Bullard

Faculty Publications

I n U.S. households there is currently a very strong belief that "wood is good" in upholstered furniture. In a recent surve)' of the upholstered furniture buying plans of over 2.000 U.S. households:

• 88.4 percent of the respondents said the material used in frame construction was important, and ...

• 85.4 percent said they preferred wood over metals. Fiberglas or other frame materials.

Pal Rule Clarification Should Aim To Simplify, Annette M. Nellen

Faculty Publications

No abstract provided.

Contingency Contracting In The Low-Intensity Conflict Environment, Steve Bell

Faculty Publications

The United States military presence in Central and South America is under attack, both literally and politically, as bombings and sniper fire directed against U.S. military personnel characterize the low-intensity conflict (LIC) environment in certain parts of Latin America. The process of contracting support for U.S. forces in a LIC environment is oriented toward sustaining operations in the field, as opposed to contracting for mobilization or surge production. A significant characteristic of this field support is that a contracting officer (KO) deploys overseas with the supported military unit. Some of the unique concerns faced by a KO deploying with an …

Attention To Social Comparison Information: An Individual Difference Factor Affecting Consumer Conformity, William O. Bearden, Randall L. Rose

Faculty Publications

Interpersonal influence in consumer behavior is moderated by the extent of consumer sensitivity to social comparison information concerning product purchase and usage behavior (cf. Calder and Burnkrant 1977). Two survey studies indicate that Lennox and Wolfe's (1984) attention-to-social-comparison-information (AT-SCI) scale has adequate convergent and discriminant validity and moderates the relative influence of normative consequences on behavioral intentions, as predicted. A quasi-experiment and an experiment in which control subjects under no social pressure are compared with high and low ATSCI subjects under pressure reveal that high ATSCI subjects are more likely to comply with normative pressures.

The Geography Of Home Furnishings Sales In The U.S., Steven H. Bullard

Faculty Publications

Sales by U.S. "furniture and home furnishings" stores were nearly $75 billion in 1987, the year of the most recent Census of Retail Trade. The sales total includes $26 billion for "furniture" stores, $16 billion for "homefurnishings" stores, $8 billion for "household appliance" stores, and $24 billion for "radio, television, computer, and music" stores.

The 1987 Census of Retail Trade reports sales for the combined category, furniture and home furnishings, for all U.S. states, counties, and metropolitan areas. In this article, therefore, the term "furniture and home furnishings" refers to combined sales for all of the store types in Table …