The Persistence Of Accounting Versus Economic Profit,
2010
San Jose State University
The Persistence Of Accounting Versus Economic Profit, Matthew J. Holian, Ali M. Reza
Faculty Publications
Drawing on Schumpeterian theory, this article presents estimates of a first-order autoregressive model of profit persistence for large US firms, using Economic Value Added (EVA), the popular measure of profits produced by Stern Stewart and Company, and simple (unadjusted) accounting measures from the Compustat database. We hypothesize about the differences we should expect to find between these two sets of estimates, and also provide a fresh normative assessment of the dynamic competitiveness of the US economy.
Understanding The M-Form Hypothesis,
2010
San Jose State University
Understanding The M-Form Hypothesis, Matthew J. Holian
Faculty Publications
The theory of the firm deserves to play a prominent role in both the undergraduate and graduate industrial organization curriculum, both because of the vast amount of attention that has been paid to this area over the last four decades, as well as its practical relevance for strategy and antitrust. This lecture briefly presents some background on the theory of the firm in general, and the M-form Hypothesis in particular. The M-form Hypothesis is an important theory of firm structure, developed by Chandler (1962) and Williamson (1975). A mathematical model, discussion section and accompanying lecture slides illustrate the concepts necessary …
The Relationship Between Economic Freedom And Economic Growth: The Transistion Process In Vietnam And China,
2010
Western Kentucky University
The Relationship Between Economic Freedom And Economic Growth: The Transistion Process In Vietnam And China, Hanh T. Vu
Mahurin Honors College Capstone Experience/Thesis Projects
The relationship between economic freedom and economic growth has always been frequently discussed in the economic literature. Economic freedom is often believed to enhance economic growth, which in turn creates more economic freedom. The first part of this paper studies the transition process in China and Vietnam from a planned economy to a free market economy. The transition process, which takes place over the period of more than two decades, allowing more economic freedom, and implementing some elements of a free market, has boosted the growth rate in both China and Vietnam, and increased considerably the standard of living of …
2010-1 Renegotiation-Proof Mechanism Design,
2010
Western University
2010-1 Renegotiation-Proof Mechanism Design, Zvika Neeman, Gregory Pavlov
Department of Economics Research Reports
No abstract provided.
2010-3 Optimal Mechanism For Selling Two Goods,
2010
Western University
2010-3 Optimal Mechanism For Selling Two Goods, Gregory Pavlov
Department of Economics Research Reports
No abstract provided.
Binary Economics - An Overview,
2010
Syracuse University
Binary Economics - An Overview, Robert Ashford
College of Law - Faculty Scholarship
Based on binary economic principles, this paper asserts that one widely overlooked way to empower economically poor and working people in market economy is to universalize the right to acquire capital with the earnings of capital. This right is presently largely concentrated, as a practical matter, in less than 5 % of the population. The concentration of the right to acquire capital with the earnings of capital helps to explain how people either remain poor or end up poor no matter how hard they work or are willing to work. Binary Economics offers a conception of economics that is foundationally …
Eliminating The Underlying Cause Of Poverty As A Means To Global Economic Recovery,
2010
Syracuse University
Eliminating The Underlying Cause Of Poverty As A Means To Global Economic Recovery, Robert Ashford
College of Law - Faculty Scholarship
The public analysis of the causes of the current recession and the ways to achieve economic recovery generally proceed on the widely-shared, tacit assumption that there is that there is no substantial, first-order connection between the recession and the failure to address the problem of systemic poverty. Otherwise, the need to alleviate systemic poverty and needed solutions to promote economic recovery would be commonly addressed in the same discussions; and they are not. This widely-shared, tacit assumption is false. The failure to reverse systemic poverty is the fundamental cause of current economic crisis. Recessions (and sub-optimal growth) occur when a …
Trusts Versus Corporations: An Empirical Analysis Of Competing Organizational Forms,
2010
Syracuse University
Trusts Versus Corporations: An Empirical Analysis Of Competing Organizational Forms, A. Joseph Warburton
College of Law - Faculty Scholarship
This paper studies the effects of organizational form on managerial behavior and firm performance, from an empirical perspective. Managers of trusts are subject to stricter fiduciary responsibilities than managers of corporations. This paper examines the ramifications empirically, by exploiting data generated by a change in British regulations in the 1990s that allowed mutual funds to organize as either a trust or a corporation. I find evidence that trust law is effective in curtailing opportunistic behavior, as trust managers charge significantly lower fees than their observationally equivalent corporate counterparts. Trust managers also incur lower risk. However, evidence suggests that trust managers …
Moral Markets: The Critical Role Of Values In The Economy By Paul J. Zak (Book Review),
2010
University of Richmond
Moral Markets: The Critical Role Of Values In The Economy By Paul J. Zak (Book Review), Jonathan B. Wight
Economics Faculty Publications
This volume contains the fruits of a two-year seminar on ethics and economics funded by the John Templeton Foundation and administered through the Gruter Institute for Law and Behavioral Research. Participants came from the social sciences, natural sciences, and humanities, and included Nobel Laureate Vernon Smith and other figures such as Frans de Waal, Herbert Gintis, Robert Frank, and Robert Solomon (for whom the book is dedicated in memoriam). The book’s editor, Paul Zak, is a pioneer in the emerging field of neuroeconomics, which uses medical technology to discover the physiological manifestations of cooperative and altruistic behavior. A theme of …
Illusions Of Market Paradise: State, Business, And Economic Reform In Post-Socialist Russia And Post-1980s Crisis Argentina,
2010
University of Richmond
Illusions Of Market Paradise: State, Business, And Economic Reform In Post-Socialist Russia And Post-1980s Crisis Argentina, Jeffrey K. Hass, Gastón J. Beltrán
Sociology and Anthropology Faculty Publications
The 1980s and early 1990s were characterized by sweeping, radical neoliberal, monetarist-inspired economic reforms designed to correct financial or structural crises. Latin American countries initiated the wave, followed by Eastern Europe and the former USSR, although the timing, scope, and policies varied. Often one reads accounts of friends and foes of reform lined up to do battle in domestic and international alliances. However, reform processes and outcomes do not always follow the formula of reformers versus conservatives; there is more to the balance of power than these all-too-common accounts would suggest. Industrial managers in the Soviet Union and post-Soviet Russia …
Who Benefits From Job Creation At County Level? An Analysis Of Leakage And Spillover Of New Employment Opportunities In Virginia,
2010
University of Richmond
Who Benefits From Job Creation At County Level? An Analysis Of Leakage And Spillover Of New Employment Opportunities In Virginia, Xiaobing Shuai
School of Professional and Continuing Studies Faculty Publications
Using an econometric model system built on county level labor market data, this study allocates new employments in Virginia from 1990 to 2000 into various demographic segments: commuters, residents, and new immigrants. The study finds significant leakage of new employment opportunities in Virginia. 52% of new jobs created in the 1990s in a locality were taken by outside commuters. However, Virginia’s localities also benefit from spillover benefits from job creation elsewhere. Economists need to account for employment leakage and spillover to accurately evaluate the fiscal impacts of potential economic development projects.
Von Der Avantgarde Zu Den Verlierern Des Postkommunismus: Gewerkschaften Im Prozess Der Restrukturierung Der Stahlindustrie In Mittel- Und Osteuropa,
2010
University of Richmond
Von Der Avantgarde Zu Den Verlierern Des Postkommunismus: Gewerkschaften Im Prozess Der Restrukturierung Der Stahlindustrie In Mittel- Und Osteuropa, Aleksandra Sznajder Lee, Vera Trappmann
Political Science Faculty Publications
Der Beitrag analysiert die Gründe für die Schwächung der Gewerkschaften in Mittel- und Osteuropa auf betrieblicher Ebene. Am Beispiel der Stahlindustrie in Polen, Rumänien und der Slowakei zeigt er, dass die Gewerkschaften Legitimität und Unterstützung bei den Belegschaften aufgrund ihrer Verwicklung in die Restrukturierung der Unternehmen verloren haben, und zwar aus je unterschiedlichen Gründen. In der Slowakei und Rumänien haben sich die betrieblichen Gewerkschaftsvertreter zusammen mit Regierungsangehörigen an den Betrieben privatwirtschaftlich bereichert und die Unternehmen so in den Bankrott geführt, während in Polen die Gewerkschaften versucht haben, die Profitabilität der Unternehmen zu erhalten, auf Kosten der Arbeitsplätze. Der neoliberale Kurs …
Searching For Effective Teachers With Imperfect Information,
2010
Dartmouth College
Searching For Effective Teachers With Imperfect Information, Douglas O. Staiger, Jonah E. Rockoff
Dartmouth Scholarship
Over the past four decades, empirical researchers -- many of them economists -- have accumulated an impressive amount of evidence on teachers. In this paper, we ask what the existing evidence implies for how school leaders might recruit, evaluate, and retain teachers. We begin by summarizing the evidence on five key points, referring to existing work and to evidence we have accumulated from our research with the nation's two largest school districts: Los Angeles and New York City. First, teachers display considerable heterogeneity in their effects on student achievement gains. Second, estimates of teacher effectiveness based on student achievement data …
What The Stock Market Decline Means For The Financial Security And Retirement Choices Of The Near-Retirement Population,
2010
Dartmouth College
What The Stock Market Decline Means For The Financial Security And Retirement Choices Of The Near-Retirement Population, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai
Dartmouth Scholarship
This paper investigates the effect of the current recession on the retirement age population. Data from the Health and Retirement Study suggest that those approaching retirement age (early boomers ages 53 to 58 in 2006) have only 15.2 percent of their wealth in stocks, held directly or in defined contribution plans or IRAs. Their vulnerability to a stock market decline is limited by the high value of their Social Security wealth, which represents over a quarter of the total household wealth of the early boomers. In addition, their defined contribution plans remain immature, so their defined benefit plans represent sixty …
Is There Monopsony In The Labor Market? Evidence From A Natural Experiment,
2010
Dartmouth College
Is There Monopsony In The Labor Market? Evidence From A Natural Experiment, Douglas O. Staiger, Joanne Spetz, Ciaran S. Phibbs
Dartmouth Scholarship
Recent theoretical and empirical advances have renewed interest in monopsonistic models of the labor market. However, there is little direct empirical support for these models. We use an exogenous change in wages at Department of Veterans Affairs (VA) hospitals as a natural experiment to investigate the extent of monopsony in the nurse labor market. We estimate that labor supply to individual hospitals is quite inelastic, with short-run elasticity around 0.1. We also find that non-VA hospitals responded to the VA wage change by changing their own wages.
Corporate Social Responsibility In Emerging Markets - The Importance Of The Governance Environment,
2010
Rollins College
Corporate Social Responsibility In Emerging Markets - The Importance Of The Governance Environment, Marc Fetscherin, Shaomin Li, Ilan Alon, Christoph Lattemann, Kuang Yeh
Faculty Publications
• This study examines how country-level, industry-level, and firm-level factors affect the extent of corporate communication about CSR in Brazil, Russia, India, and China (BRIC). In particular, using the data of 105 largest MNCs from BRIC, we investigate the CSR motives, processes, and stakeholder issues discussed in corporate communications.
• On the country level, we use a newly developed framework of the governance environment which differentiates between rule-based and relation-based governance. Our study reveals that the governance environment of a country is the most important driving force for the communication intensity about CSR.
• Our results show that firms communicating …
Tao Of Downfall: The Failures Of High-Profile Entrepreneurs In The Chinese Economic Reform,
2010
Rollins College
Tao Of Downfall: The Failures Of High-Profile Entrepreneurs In The Chinese Economic Reform, Wenxian Zhang, Ilan Alon
Faculty Publications
Through historical reviews and case studies, this research seeks to understand why some initially successful entrepreneurs failed in the economic boom of past decades. Among various factors contributed to their downfalls are a unique political and business environment, fragile financial systems, traditional cultural influences and personal characteristics. Notwithstanding that these factors should be further tested through empirical studies, those high-profile entrepreneurs are oblivious but essential actors in the grand theatre of China's economic transformation and their failures have contributed to the swift development of the Chinese entrepreneurship over the last 30 years.
Department Of Economics Newsletter, V16, Winter 2010,
2010
University of Northern Iowa
Department Of Economics Newsletter, V16, Winter 2010, University Of Northern Iowa. Department Of Economics.
Department of Economics Newsletter
Inside This Issue:
--Scholarship News
--Honoring Scholarship Recipients
--Economics Club
--Alumni News
--Alumni-in-Residence
--Economics Club
--Graduation
--Help Us Recruit Majors
--Russia 2009
-Competitions
--Lawrence M. Jepson International Economics Essay Contest
--UNI Team Enters Fed Challenge
--Undergraduate Research Program
--How Old is the UNI Economics Major
--Academics and Sports
--Mahoney vs Tebow vs McCoy
--Ryan Mahaffey Receives Scholar-Athlete Honors
--UNI Economics: A Small School Experience in a Big School Environment
--Commentaries From Faculty
--Gender Wage Gap: A Brief Investigation
--K-12 or K-11
--Commentaries From Faculty
--China
--China by the Numbers
--Truth, Lies, and Statistics
--Faculty Awards
--Lawrence Jepsen Professorship Awarded
--From …
The Economics Major Post Meltdown: Need For Revision?,
2010
St. Cloud State University
The Economics Major Post Meltdown: Need For Revision?, King Banaian
Economics Faculty Working Papers
No abstract provided.
Social Structure Of Accumulation Theory For The Arab World: The Economies Of Egypt, Jordan And Kuwait In The Regional System,
2010
Smith College
Social Structure Of Accumulation Theory For The Arab World: The Economies Of Egypt, Jordan And Kuwait In The Regional System, Karen Pfeifer
Economics: Faculty Publications
No abstract provided.
