bluuebunny/crossref_metadata_2025 huggingface dataset:
AVALIAÇÃO DE FUNÇÕES DE GOVERNOS ESTADUAIS E DO DISTRITO FEDERAL NA PERCEPÇÃO DOS CONTRIBUINTES/USUÁRIOS
Authors: Silva Maurício Corrêa da , Souza Fábia Jaiany Viana de , Araujo Aneide Oliveira , Silva José Dionísio Gomes da
Published: March 2016

Esta pesquisa tem o objetivo de levantar opiniões sobre os graus de satisfação de contribuintes/usuários sobre as funções dos governos estaduais e do distrito federal: legislativa; judiciária; segurança pública; saúde; educação; saneamento; gestão ambiental; desportos e lazer; cultura e administração, através de um questionário em que são atribuídas notas de 1 a 10. O questionário foi disponibilizado em sítio eletrônico próprio no período de 01 de junho a 12 de julho de 2013. Foi realizada também uma avaliação da eficiência instrumental orçamentária dos 26 Estados e do Distrito Federal do ano de 2012. Os resultados revelaram que o Estado de Minas Gerais, seguido de São Paulo e Mato Grosso do Sul foram os melhores avaliados pelos contribuintes/usuários e  Tocantins, Rondônia e Alagoas obtiveram as menores médias nas avaliações das 10 funções de governo. As funções segurança pública e saúde foram avaliadas de forma conjunta com a nota final 3 (18% e 20%, respectivamente dos 643 contribuintes/usuários participantes da pesquisa) e educação com a nota 4 (18%). Em relação a eficiência instrumental orçamentária de 2012, os Estados de Alagoas, Amazonas, Bahia, Ceará e Maranhão foram considerados eficientes, mas em relação à percepção dos contribuintes/usuários, os mesmos ficaram na 27ª, 7ª, 11ª, 20ª e 22ª posição no ranking da avaliação.
REDE DE PESQUISADORES DE CRÉDITOS DE CARBONO NO BRASIL ENTRE 2006 E 2012: UM ESTUDO BIBLIOMÉTRICO E SOCIOMÉTRICO
Authors: Pereira Antonio Nunes , Lamenza Ademir , Faria Ana Cristina de , Pereira Raquel Silva
Published: March 2016

O presente estudo contribui com o mapeamento da produção científica sobre o tema Crédito de Carbono, delimitado aos eventos e periódicos selecionados a partir do ranking da Qualis/CAPES na área de Administração, Contabilidade e Turismo - ACT entre 2006 e 2012; bem como periódicos que estão no repositório do Scielo. Este estudo pode ser considerado empírico-analítico, no que diz respeito à sua abordagem metodológica. No que tange aos procedimentos técnicos empregados, pode-se caracterizar a investigação como pesquisa documental, bibliométrica e sociométrica, com ênfase nos artigos produzidos sobre Créditos de Carbono. Foi possível identificar que a produção científica sobre Crédito de Carbono está concentrada no evento EnANPAD e no periódico RGSA. Tal fato sinaliza que o crescimento da publicação em eventos não acompanhou a veiculação em revistas, evidenciando um campo majoritariamente incipiente junto à comunidade acadêmica analisada. A análise de redes sociais possibilitou a identificação de 4 (quatro) quatro redes mais produtivas ligadas institucionalmente às Universidades Federais do Rio de Janeiro e da Bahia, à Universidade de São Caetano do Sul e à Universidade de São Paulo e que não possuem vínculos de autoria entre si.
TRATAMENTO CONTÁBIL DOS ATIVOS BIOLÓGICOS E PRODUTOS AGRÍCOLAS EM COOPERATIVAS DE SANTA CATARINA
Authors: Kruger Silvana Dalmutt , Bordignon Andrea , Mazzioni Sady , Gubiani Clésia Ana
Published: March 2016

O estudo tem por objetivo evidenciar se as práticas contábeis adotadas por Cooperativas Agropecuárias de Santa Catarina atendem às exigências do Pronunciamento Técnico CPC 29. Os procedimentos metodológicos utilizados caracterizam a pesquisa como descritiva, documental e qualitativa. A análise foi realizada a partir do conjunto de relatórios anuais elaborados pela amostra composta por nove cooperativas agropecuárias que disponibilizaram as informações. Os resultados do estudo, por meio da análise do check list realizado, evidencia que 89% das cooperativas indicam a natureza e as características dos ativos biológicos e produtos agrícolas que possuem, embora apenas 22% delas evidenciam o método e as premissas aplicadas na determinação do valor justo dos ativos biológicos e produtos agrícolas; 89% mensuram os ativos biológicos pelo custo, menos depreciação e perda recuperável acumulada; 44% mensuram os produtos agrícolas com base no valor de mercado ativo e apenas 33% das cooperativas divulgaram os ganhos ou perdas do período em relação aos ativos biológicos.
 
SUSTENTABILIDADE DO USO DOS RECURSOS HÍDRICOS DO RESERVATÓRIO EPITÁCIO PESSOA ATRAVÉS DE UM MODELO DE OTIMIZAÇÃO MULTIOBJETIVO
Authors: Santos Valterlin Da Silva , Curi Wilson Fadlo
Published: March 2016

Em regiões áridas e semiáridas a escassez hídrica condiciona as atividades humanas e o desenvolvimento socioeconômico da região. Os modelos de otimização são ferramentas que podem estabelecer diretrizes e ações para o aproveitamento, controle e conservação dos recursos hídricos bem como analisar os benefícios oriundos da compatibilização entre a oferta e a demanda. Este trabalho apresenta um estudo da sustentabilidade do uso dos recursos hídricos do reservatório Epitácio Pessoa, situado na Região do Alto Curso do Rio Paraíba no cariri paraibano, considerando a operação ótima multiobjetivo e plurianual. O reservatório tem como finalidade o abastecimento urbano, o atendimento das demandas hídricas de um perímetro irrigado e a perenização do rio Paraíba a jusante do mesmo. Os resultados demonstram que a atividade agrícola pode ser desenvolvida no reservatório Epitácio Pessoa sem comprometer a demanda de abastecimento humano nas cidades (cenário 2), desde que seja realizado um estudo de quais culturas agrícolas deve ser cultivadas e em qual época do ano. Tem-se que o reservatório não consegue atende integralmente a demanda estabelecida para a perenização do rio a jusante do mesmo.
Effect of integrated nutrient management on physical and chemical properties of soil
Authors: Meena Suman , Swaroop Narendra , Dawson Joy
Published: March 2016

A field experiment was conducted during Kharif season 2014 at the Research farm of Soil Science Allahabad School of Agriculture, laid out in randomized block design on sandy loam soil, containing sand 62.71%, silt 23.10% and clay 14.19% (Inceptisols). It was observed that for post harvest soil properties in treatment N20+ FYM @ 10 t ha−1 and Rhizobium P40K40 were improved significantly due to integrated use of inputs. Organic carbon-0.75%, available nitrogen- 333.23 kg ha−1, phosphorus- 34.58 kg ha−1, potassium -205.83 kg ha−1, pore space -50.80 %, pH -6.80 were found to be significant and bulk density -1.07 Mgm−3, particle density -2.62 Mgm−3, EC at 27°C -0.24 dSm−1 were found to be non-significantly improved in this treatment.
Investigating Relationships Between Vision Components and Hospital Performance: Proposed Model
Authors: Kantabutra Sooksan , Avery Gayle C.
Published: March 2016

Surprisingly little research has been conducted on what constitutes an effective vision, and yet leaders are widely exhorted to employ visions. A research model is proposed for investigating relationships between effective vision components and the performance of hospital wards, as measured by patient and nursing staff satisfaction. The model, expressed both graphically and as three research propositions, proposes that vision attributes of brevity, clarity, abstractness, challenge, future orientation, stability, and desirability, and vision content relating to patient and nursing staff satisfaction, can directly affect performance. However, the model also predicts indirect effects on performance mediated by six intervening variables.
Corporate Acquisition Through Bankruptcy Auctions
Authors: Azarmi Ted , Haecker Christine
Published: March 2016

The objective of this case is to teach and initiate a class discussion about how to find potential buyers for a bankrupt firm. The discussion is facilitated by a real world case example that focuses on strategies based on use of databases such as D&B or Sorkins, trade associations networks, trade magazines, information on recent industry acquisitions, and use of private equity groups. Issues relevant to optimal design of a bankruptcy auction and the required bidding process for achieving an optimal sale price are also addressed.
Terry Labonte Chevrolet Dealer Targets College Student Market
Authors: McMillian Norwood , Lucas Stephen R. , Miles Benton E.
Published: March 2016

This case presents the problem of a new owner of an existing dealership coupled with a move to a new location/new facility within the city. The marketing problem is presented whereby a college marketing class is challenged to create a promotional event on campus to make students aware of the dealership and its location. Additionally, two surveys were administered to gain insight of the college student in regard to the dealership and its products/services. Questions/assignments are posed for students appropriate for a marketing promotions course. The questions/assignments address the goals stated by the manager of the dealership.
Statistical Literacy: Performance And Per-ceptions Of Accounting Students
Authors: James Marianne L. , Blaszczynski Carol
Published: March 2016

Statistical literacy is critical for business professionals in terms of their research consumption role and their ability to interpret and apply statistics. Students enrolled in five sections of Intermediate Accounting (n = 132) completed a 17-item survey that included statistics calculation items, identification of appropriate statistical tests, interpretation of statistical outcomes, and perception items. There were no statistically significant gender differences in performance on any of the items. Overall, the statistical literacy of accounting students was poor as measured by their performance on the various items.
How Does Organizational Climate Influence The Ethical Behavior Of People In An Organization?
Authors: Forte Almerinda
Published: March 2016

Litwin constructed a questionnaire to measure organizational climate. At the same time working independently, Tagiuri investigated how executives perceived the environment in which they functioned. Litwin and Tagiuri reached the same conclusion: organizational climate influences the behavior of people in an organization (McKenna, 1993, p 37).Litwin and Stringer (1968) developed an instrument to collect perceptions of organizational environment. They contended that realities of an organization are understood only as they are perceived by members of the organization (p.42). Litwin and Stringer defined organizational climate operationally as the sum of perceptions of individuals working in the organization (.p. 66) Climate, according to Litwin and Stringer, influences organizational decisions by creating certain kinds of beliefs about what kind of consequences will follow from various actions . (Litwin & Stringer 1968, p. 188) Of importance to this paper was their conclusion that organizational climate properties can be perceived by members of an organization and reported on by them on an appropriate questionnaire. (p. 187). This conclusion forms a critical assumption for this paper.The organizational work climate reviewed in this paper is based largel on the research conducted by Tagiuri, Litwin, and Sringer in 1968; Mauro in 1987; Victor and Cullen in 1987 and 1988; McKenna in 1993; Wyld in 1993; DAquila in 1997 and Forte in 2001.
Ricardian Equivalence: Evidence From South American Countries
Authors: Mohabbat Khan A. , Ashraf Mohammad
Published: March 2016

This study deals with the intergenerational effect of national debt. We try to find out whether the government deficit incurred today has any adverse effect on the generations to come. More specifically, this study tests the notion that any deficit acquired by the government today is offset by the private sector by reducing their consumption and increasing their savings to pay for the debt some times in the future. Since the time horizon for the government is longer than that of the private agents, the private agents altruistically bequeath what they have saved along with interest earned to their offsprings. This study empirically verifies the debt neutrality hypothesis for several South American countries for which workable data were available. The results do not support the debt neutrality hypothesis and show that economic agents consider government bonds net wealth affecting their consumption in a positive way.
Relationship Between Best Practice And Integrated Supply Networks
Authors: Sheather Graeme D.
Published: March 2016

This paper reports on an empirical study to examine the relationship between supply chain performance and its impact on firm performance - a controversial issue in the literature. It develops an integrated performance measurement framework to survey the relationship between best practice firms and their position in supply/buy networks operating between firms in the Electronics and IT Communications industry in the Northern Adelaide Region of South Australia. The methodology joins models of best practice with theories of structural network analysis applied to a sample of 44 original equipment manufacturers (OEMs) and their first tier suppliers and customer firms. It uses a combination of quantitative and qualitative analysis to arrive at a classification of best practice firms, and correlates their leader and lagger status against a five class typology of supply and buy networks for the OEM firm, to show the impact of supply chain performance on firm performance. The results reported here are a pilot study to test the validity of the conceptual framework preparatory to a future survey of the full population of firms in the industry operating multi-tier supply/buy chains. Advanced statistical techniques and snowball sampling will be used to test and confirm the preliminary relationships presented here. The study was sponsored by Playford City Council as part of its Industrial Renewal Program for Northern Adelaide to build regional systems of innovation and agendas for change.
Brand Extensions: A Qualitative Meta-Analysis Of 20 Years Of Marketing Research
Authors: Prosser Elise , St. James Melissa
Published: March 2016

Brand extensions, or new product introductions under an existing brand name, have become increasingly popular over the past 20 years. Marketers tout brand extensions as enjoying higher market share and profitability than launching new brand names that require exorbitant advertising expenditures (Smith & Park 1992). According to some estimates, brand extensions account for more than 90% of new product introductions in some categories (Volckner & Sattler 2002). However, one study found that 27% of line extensions failed (Reddy, et al 1994). Furthermore, excessively stretching the brand to various products may risk brand dilution. A brand extension failure is seen as harming the parent brand. The authors provide a qualitative meta-analysis that summarizes sixty-three articles comprising the brand extension research over the past twenty years (1981-2000). They suggest three propositions that represent three major conclusions reached by the studies and present evidence of support for each.
The American Red Cross And The Liberty Fund: Ethically Stuck Between Accountability And Development
Authors: Therrien Marie-Christine
Published: March 2016

Organizations today face increasing complexity in their environment. This situation is at the heart of many institutions nowadays: how to become an ethical decision-making organization. The objective of this paper is to analyze a particularly ethically sensitive situation the American Red Cross faced with the Liberty Fund. We will examine this by including three factors: becoming a true mediating institution, keeping to the social contract, and maintaining a community frame of mind. Since the beginning of its foundation, the American Red Cross has been providing emergency services to disaster stricken populations, and this was no different during the September 11th attacks. However, contrary to its usual general disaster fund, the American Red Cross decided to create a separate account for the 1 Billion dollar fund. Yet before this total amount was reached, there was clear insatisfaction from the public as the ARC announced that not all funds would be spent on this relief effort, and that some funds would be kept for prevention and development: the ARC announced, admitted and apologized for poor judgment and that all funds would be for the victims of the event. This paper will analyze the decision process surrounding this decision by the ARC taking into consideration accountability and ethics according to three principals derived from scientific literature on ethics: accountability, procedure and altruism.
The Impact Of Price Changes And Trends On Demand For Meat In Nigeria
Authors: Osho Gbolahan Solomon , Uwakonye Matthew
Published: March 2016

This study determines the responsiveness of demand for meat to variations in prices and incomes on the basis of food demand data for the time period between 1980 to 2001 using an Almost Ideal Demand System (AIDS) model. These findings are reasonable given the position that beef holds as the dominant and traditional meat in Nigeria. These elasticities also imply that beef and chicken are luxury goods, while other fish and demersal fish are normal goods for Nigeria households consistent with the findings of previous studies. With the exception of some cross-price elasticities, the majority of the price elasticities exhibit the expected signs and magnitudes. This indicates that demand for beef and other meat Nigeria is very price elastic. In general, the results suggest that own-prices as well as incomes are the predominant factors determining consumer choice and meat consumption patterns in Nigeria rather than relative prices.
Introducing New Methods Of Leadership And Fund Management In Public Sector: The Case Of Slovenia
Authors: Setnikar-Cankar Stanka
Published: March 2016

A key factor in efficient operations of public sector units, is not only the establishment of autonomous organisations, but also the promotion of autonomy, professional and financial responsibility as well as supervision in all organisational units in the public sector. It would be normal to expect the direct role of the state to become less important and greater initiative be left to organisational units. With methodical monitoring of public needs, constant evaluation of services, expert management and increasing equal access of citizens to services, the public sector operations could be made more efficient.
An Hourly-Wage-Based Earned Income Tax Credit: Implications For Workers, Employers, And Taxpayers
Authors: Husby Ralph D.
Published: March 2016

What is the best way to compensate low-paid workers? A generous minimum wage may cause substantial unemployment and serious dislocations. The current combination of a modest minimum wage plus the annual-income-based earned income tax credit is, in some cases, a disincentive to work. An hourly-wage-based earned income tax credit, on the other hand, may be the most efficient and effective way to compensate the low-wage worker.
Some Missing Tools For Business Statistics: How To Teach Them
Authors: Amsden Robert T. , Amsden Davida M.
Published: March 2016

Missing from business statistics texts are several tools, but how does one add additional material to an already crammed, required course? We briefly describe these tools. This paper explains how to incorporate these missing tools in a time-efficient manner. We show how to teach them in a way that helps students to: (1) learn basic statistical concepts, (2) distinguish the two kinds of variation, (3) find structure within data, and (4) set priorities on problems. By learning these four concepts at the beginning of a statistics course, students will then have a solid, practical foundation for learning the remaining statistical material to be covered.
The African-American Financial Services Market: Profiling The Substantiality And Viability Of An Underserved Segment
Authors: Stevenson Thomas H. , Plath D. Anthony
Published: March 2016

The purpose of this study is to help marketers recognize, understand and respond to the underserved African-American financial services market in the U.S. To do so, the study examines demographic trends and financial consumption patterns of African-American consumers, drawing on the most recent Survey of Consumer Finances to explore the principal differences between black and white households asset holdings and financial product and service preferences. Findings indicate that the African-American market has grown rapidly in size and viability over the past decade, and that African-American consumers differ markedly from their white counterparts in terms of financial product preferences and investment portfolio composition. The difference between the two segments is especially evident in the case of relatively more risky, but higher return, financial products. Based on these findings it is apparent that marketers should endeavor to reach this increasingly attractive but underserved segment of the U.S. financial services marketplace.
CPA Liability: A Crisis Of Confidence? Is The Auditor A Watchdog Or A Bloodhound?
Authors: Nunn Leslie E.
Published: March 2016

The recent problems with the financial status of Enron bring to mind when an accountant is liable for his or her work and to whom that liability can be directed. This paper analyzes most causes of action (rights to file a lawsuit) which can be claimed against an accountant. Most liability seems to stem from the auditing functions, but it can flow from a number of other causes as well. While the liability to the client is fairly straight forward, liability to third parties can be more treacherous. Among the legal principles on which liability can attach covered herein are breach of contract, negligence, negligent misrepresentation, intentional misrepresentation, unfair or deceptive trade practices, liability for incorrect tax returns, erroneous business advice, federal and state securities exchange acts, statutes of limitations, policy factors affecting court decisions, and damages.
Quantum Learning: Learn Without Learning
Authors: Selman Victor , Selman Ruth Corey , Selman Jerry
Published: March 2016

Quantum Education is the natural way to learn---motivating and exciting people to take responsibility for their own education.. The Montessori Model represents the closest example of Quantum Education, where the environment is prepared with didactic materials for the children to absorb at their own pace. Where children learn without formal pedagogical machinations, without consciously learning how to learn---by doing. Like Quantum Logic or Quantum Physics or Quantum Games, quantum thinking is an insightful, body/mind approach, attempting to connect our classical worldwhere objects or things have definite identitieswith our new quantum worldwhere things take on multiple realities simultaneously. The concept of mind, limiting our perceptual abilities is no longer confined to the brain or even the body---all organs are, in some ways, thinking organs, permitting restructuring of our cognitive educational commitment toward infinite choice and possibility. Quantum Education has been defined by the Canadian Quantum 2000 Group as the need for a quantum shift in what students are expected to learn in Alberta public schools starting Y2000.
The Effects Of Decision Framing Influences On Decision Performance
Authors: Harrison David Shelby , Porca Sanela
Published: March 2016

This study investigates the effects of two components of decision framing [commitment and verbalization] in decision optimization, and how information quality impacts framing effects on decision performance. The theory of cognitive dissonance predicts that commitment to a decision will foster insensitivity to alternative choices. We find that such bias can be beneficial in certain decision strategies, and more powerfully influential as information quality worsens. We used an interactive computer simulation to test decision framing effects in a profit optimizing business simulation and to examine the magnitude of the framing effect under varying conditions of information quality, which was proxied as cost information type (ABC: higher quality; VBC: lesser quality). The influences of these factors were tested on the profit optimizing abilities of 48 accounting majors under controlled, laboratory conditions. Results showed that framing influences improved decision-making, and the effects of framing influences were more powerful in decision environments of poorer quality information [VBC] than in higher quality decision environments [ABC]. Framing was most supportive of decisions when most needed, poor information environments, and not of significant influence in clearer decision environments.
States Of Wisdom In Marketing During An Era Of Economic Turbulence
Authors: Lesser Jack A. , Saunders Donald E.
Published: March 2016

In 1975, Cundiff (1975) wrote an editorial in the Journal of Marketing titled, What is the Role of Marketing in a Recession? The 1974/1975 recession was more damaging to the economy than any recession since the Great Depression. Implicit in his editorial was the momentary concern corporations would emphasize cost reduction over marketing innovation to insure their short-term survival. Numerous articles were published in response to his article about how marketing and consumers appeared to be changing during the period.
Not All Special Interests Are Created Equal: The Role Of Industry Lobbying On WTO Patterns Of Protection
Authors: Vargha Lynda D.
Published: March 2016

This paper examines to what degree increase in bilateral and multilateral trade agreements has opened up liberalization process to the special interests of powerful industries in industrialized nations. A political economy model of endogenous tariff formation is used to compare the effects of industry lobbying on the tariff structure under unilateral and cooperative liberalization. The results of this analysis illustrate that industry special interests do have an effect on the tariff structure when trade policy is determined unilaterally or cooperatively (especially if the industries of major trading partners are not organized into effective lobbies). However, the model also illustrates that as countries pursue the ongoing liberalization of tariff protection, large industries will experience larger tariff reductions than smaller ones. In fact, during the process of ongoing unilateral or cooperative liberalization, the industries most able to maintain high levels of protection are those that are characterized by high displacement costs and are particularly susceptible to harm from imports. The paper concludes that regardless of the liberalization mechanism the organized special interests of large industries will affect the pattern of protection, however, this effect diminishes if a country commits to an ongoing liberalization process. Instead, ongoing multilateral liberalization through the WTO keeps tariff policy open as an avenue for the government objective of minimizing the deadweight loss associated with liberalization and protecting industries particularly susceptible to harm from imports.
Hands Across The Atlantic?
Authors: Young Terry , Crawford Peggy
Published: March 2016

The war in Iraq created a division between the United States and some members of the European Union. The war also split the EU, with France and Germany leading the anti-war camp and Britain, Italy, Portugal, and Spain supporting Washington. With organized warfare over, the United States has shifted its attention from the military campaign to the installation of a legitimate and stable government in Iraq. However, the administration of post-war Iraq has caused the division between the US and Europe to widen.The multilateralists, France and Germany, are demanding a central role for the UN in rebuilding Iraq. France, in particular, believes that the task should be left to the UN alone. They suggest this would help legitimize what they consider to be an illegal war. On the other hand, the US, which accepted a great burden with the pre-emptive attack on Iraq, wants the UN to have a vital but limited role in post-war Iraq. The US believes that the UN needs serious repair before any responsibilities can be handed to it.This study examines the economic, political, and security implications of the division between these old allies. The relationship between the US and EU is based on years of cooperation. Both sides know that they must mend fences sooner rather than later. We contend that pragmatism will triumph over geo-politics.
The Relative Pay Of Public Employees In The U.S.: An Assessment Of Empirical Research
Authors: Ramoni Josefa , Bellante Don
Published: March 2016

Beginning in the 1970s and continuing to the present, economists have examined the pay of public sector employees. Usually, an attempt is made to compare the compensation of public employees at various levels of government to workers in the private sector who are believed to be comparable. Of the many studies done, there is substantial variation in the operational meaning of comparable. Nonetheless, the general finding is that public employees on average receive rents or, stated otherwise, are overcompensated when compared to employees in private employment. The estimated levels of rent seem to be highest at the federal and lowest at the local level of government. Despite the general finding, there are substantial differences in the quantitative estimates. The major focus of this paper is on a critical evaluation of the various empirical methodologies that have been employed. An attempt will be made to reconcile the differences observed and to suggest improvements in the method of estimation.
Profits From Currency Futures Based On The Random Walk Hypothesis
Authors: Atkins Allen B. , Basu Somnath
Published: March 2016

Since the advent of floating exchange rates in 1973 there has been a debate about what is the best predictor of currency spot rates. The two most prominent candidates have been the current futures price and the current spot price. Lee Thomas (1985, 1986) basic proposition rests on the argument that if the current spot rate follows a driftless random-walk process, then the spot rate of a currency will not tend toward the rate of the futures contract price. In other words, the best predictor of the spot rate in the future is todays spot price and not todays futures contract price. The investing strategy indicated by this belief is to simply buy (go long) any futures contract that is below todays spot price and sell (go short) any contract that is above todays spot price. Results from January of 1990 through March of 2003 show that by following this strategy, 63.2% of the trades result in a profit. Various simulations result in annualized returns from 5.18% to 14.76% and none results in a margin call.
Globalization And The Federal Reserve
Authors: Cosgrove Michael , Marsh Daniel
Published: March 2016

A group of developing countries including China, India and Mexico entered the global marketplace post-1980 making a major contribution to disinflation in the U.S. and other developed countries. Movement by developing countries toward free trade led to unexpectedly large gains from specialization and exchange including the contribution to global disinflation through flows of goods, capital, technology and in particular abundant labor. These gains from trade led to a slowing in U.S. cost-push inflation pressures and enhancement of productivity gains. Gains from free trade have been widespread, with benefits accruing to both developed and developing countries in the period since 1980. In comparison, gains from trade were restricted primarily to developed economies in the 1945 to 1980 time period.The Federal Reserve and other central banks followed monetary policies conducive to the post-1980 period of disinflation but the contribution to disinflation through gains from trade does not seem to be incorporated into the monetary policy of central banks. In Japan, disinflation turned into deflation and Germanys disinflation is on the verge of doing the same. Deflation concerns are also voiced in the U.S. The premise of this paper is that the overshoot from the price stability objective to deflation fears or outright deflation on part of the Federal Reserve and other major central banks is due to gains from trade with developing countries. Policy implication -- the Federal Reserve and other central banks need to increase the quantity of money at a more rapid pace than would normally occur to account for the contribution to disinflation from gains from trade among developed and developing countries.
Corporate Inversion: A Symbol Of A Changing Paradigm Of Corporate Behavior? Balancing Global Competitiveness, Fiduciary Duty, And Ethical Behavior
Authors: Clevenger Novella , Crumpacker Martha , Siehndel Ray
Published: March 2016

Global competitiveness is affecting U.S Companies in a variety of ways. One is tax policy. U.S. federal tax policy in a global environment causes many U.S.-based companies to operate at a disadvantage to some foreign competitors. Current U.S. tax laws require domestic residents to pay income taxes on worldwide income. However, many countries have tax systems that exempt from domestic taxation profits earned by foreign subsidiaries. In addition, U.S. corporations with foreign-source income may be subject to tax by the country in which the income is earned. In an effort to eliminate this competitive burden, a growing number of U.S.-based companies have engaged in corporate inversion transactions. U.S.-based companies need to reconcile their fiduciary duty to shareholders with fundamental ethical issues as well as federal tax policy in justifying moving to another country solely for its beneficial tax system.
Effects of Exchange Rates On International Transfer Pricing Decisions
Authors: Chan Canri , Landry Steven P. , Jalbert Terrance
Published: March 2016

Events leading to the passing of the Sarbanes-Oxley Act have led to increased concern with and scrutiny of potential management manipulation of financial statements. From an agency theory perspective, managers have incentives to manipulate organizational methods and choices in order to produce financial statements that those managers believe will maximize their incentive compensation. Transfer pricing represents one possible choice that managers can manipulate.This paper investigates whether exchange rates affect transfer pricing particularly as it relates to maximizing overall corporate profitability. The effects of taxes and government regulations have been explored in considerable depth in the transfer pricing literature. However, while transfer prices should also be affected by exchange rates in predictable ways, this variable has received comparably little attention in the literature. Inclusion of exchange rates in an analysis of transfer pricing and corporate profitability presents an opportunity to add to the literature.We conducted an experiment to examine how managers set transfer prices. We found that, while individuals were influenced by managerial incentives, they seemed genuinely concerned with firm profitability. We found that individuals, and therefore possibly managers, consider the effects of exchange rates on their transfer pricing decisions, even in the absence of incentives. This is an important finding not only with relation to the transfer pricing literature but also with regard to the underlying agency theory literature.
Internet In Global Settings: A New Look At International Marketing
Authors: Erdem S. Altan
Published: March 2016

The growing use of e-commerce has opened up a new territory of ongoing communication between consumers and manufacturers around the World. Both parties are now able to target each other regardless of their national boundaries. Accordingly, more and more companies are getting into the international arena and hoping that they can get nicer shares of the potential business volume. Many firms are trying to identify and target specific market segments globally by building a network of Internet sites around the World. While creating a network may just be the beginning, it appears to be a rather successful venture. These businesses are finding out that e-commerce may be a very effective way to reach those markets with similar attributes globally. Considering the continuously increasing speed of technology in the information highway, one can only assume that there will be even more markets attainable in the near future. The question is who will be there first to cover these markets, and more importantly, who will be better prepared to cover them properly.
Service-Driven Growth Pattern In IT Industries And Contributing Factors:A New Pattern In The Korean Industrial Development Perspective
Authors: Lee Duk Hee , Nam Changi , Yi Junesuh
Published: March 2016

This paper examines the pattern behind rapidly growing Koreas IT industries. Korea has characterized economic growth based on export demand rather than domestic demand at the traditional industries such as automobile, electronics, steel, and shipbuilding etc. However, the recent development of IT industry is indicating a different aspect from traditional sectors. The rapid growth in service demand is becoming a key factor in the rapid growth and high competitiveness of IT industry. A statistical estimation testing relationship between mobile telecommunication, Internet service, and wireless equipment, computer, strongly supports service-driven growth pattern of IT industry. Strong network externalities in demand side, governments demand promotion policies, residential environment, and users preferences, are main contributing factors to this new growth pattern.
Cointegration And The Causality Between Stock Prices And Exchange Rates Of The Korean Economy
Authors: Hwang Jae-Kwang
Published: March 2016

This paper examines the relationship between stock prices and exchange rates in Korea. It is found that two time series are cointegrated by the Engle-Granger two-step cointegration test. The results show that domestic currency devaluation has a negative short-run effect on stock prices. It means that there is only one-way temporal linkage from exchange rates to stock prices.
Global Accounting Standards And Curriculum
Authors: Chandra Gyan
Published: March 2016

Offshoring of technology jobs and its adverse economic effects on the U.S. economy are making daily headlines. Globalization of economy and advances in information technology have accelerated offshoring to low labor cost countries like China and India. The latter have the advantage of abundant educated manpower, low labor cost and high entrepreneurial spirit. However, just as globalization is taking lower-value jobs overseas, it is also creating markets for higher-value U.S. services and goods in those countries. Development of global accounting standards could further accelerate offshoring of jobs in financial services. It is time that business schools prepare their graduates to face the challenge through appropriate curriculum changes.
Organizational Learning During International Technology Transfer
Authors: Onken Marina , Joyner Brenda
Published: March 2016

One of the issues in international technology transfer is that of organizational learning. Previous research has shown that communication technology facilitates the transfer of technology significantly, but implicit in a communication technology model is that of building a learning organization. This is an issue that affects all international firms as they attempt to integrate and organize their strategies and efforts worldwide. This paper focuses upon the steps of technology transfer and how organizational learning facilitates the process. Finally, implications for managers are discussed.
Uncertainty Resolution Under Extreme Information Asymmetry: The Case Of Alberta's Private Equity Markets
Authors: Robinson Michael J. , Cottrell Thomas J.
Published: March 2016

This study develops and tests a model of how private equity market investors mitigate risk. We find evidence that changes in securities regulation increase the pool of private equity capital. We also identify a previously overlooked category of private equity investors that are neither angels nor venture capitalists and demonstrate that they play a significant role in this market.
The Current Account And The Intertemporal Budget Constraint: Evidence From G-7 Countries
Authors: Dar Atul A. , AmirKhalkhali Sal , AmirKhalkhali Samad
Published: March 2016

A random coefficients, error-correction model of saving-investment behaviour, which is consistent with intertemporal open-economy models, is estimated for G-7 countries to infer about the current account, capital mobility and the relevance of intertemporal budget constraints in such model. The error-correction mechanism is especially suited here since it is able to integrate short run dynamics with long run behaviour, while the random coefficients approach is a natural specification for accommodating inter-country differences. If saving-investment correlations measure capital mobility, a positive correlation would mean that a countrys growth prospects would be constrained by its saving, government deficits would crowd out private investment and, at a broader level, good investment opportunities might have to be foregone unless the required resources were obtained through a sacrifice in current consumption. On the other hand, those correlations could also be seen as validating the use of intertemporal budget constraints in open-economy models.
Currency Crises And Export Behavior Of Foreign Affiliates
Authors: Soliman Mohamed
Published: March 2016

This paper argues that following a currency crisis, foreign firms may increase their exports and reduce their local sales to mitigate the effect of the crisis. In so doing, foreign firms escape the effect of the crisis on local demand and capitalize on increased competitiveness due to currency devaluation and lower domestic input prices. Using data on sales by US majority owned affiliates in 41 countries spanning over 19 years, we show that US firms redirect their sales from domestic markets to exports. We also find that currency crises have a positive effect on developing countries merchandise exports.
Informational Efficiency: An Empirical Test In Asian Currency Crisis
Authors: Zhang Zhaohui , Karim Khondkar E.
Published: March 2016

In this paper, we examine whether the trading of the equities of the U.S. international lenders was informationally efficient when the IMF announced its term loan agreement concerning South Korea in late 1997. More specifically, we test whether the foreign exposure levels of different lenders can be distinguished and used by investors to rapidly price the lenders stocks proportionally according to the foreign exposure levels. A cross-sectional CAR regression model is used. The evidence indicates that the market is informationally efficient in trading the lenders equities during the IMF assistance of South Korea as investors incorporated the foreign exposure into pricing their bank equities rapidly and proportionally. There is a significant positive relationship between the banks' equity prices and their respective exposure levels on the event days. This relationship is not shown on the nonevent dates.
Impact Of Merger And Acquisition On Debt Management Ratio: A Case Study In Malaysian Banking Sectors
Authors: Talha Mohammad , Sallehhuddin Abdullah
Published: March 2016

This study based on efficiency theory of shareholders wealth maximization of acquisition principle attempted to investigate the debt management ratio of ten Malaysian anchor banks after undergoing mega merger and acquisition program which was completed in the year of 2000. As efficiency theory consists of three elements that are financial synergy, operation synergy and managerial synergy, the study will primarily focus its analysis on financial synergy (debt management). Using accounting technique (financial statement analysis) to draw the implication, the study results highlighted the performance of those anchor banks from the year 2000 to 2004. The ratio analysis tools employed covered total liabilities to total assets, total liabilities to total equity, times interest earned, and cash debt coverage ratio. The findings shows that in general, the anchor banks recorded improvement in term of debt management; yet more comprehensive strategies have to be executed to further enhance the financial synergy. The generalization however shall be done in more cautious as the study inherits several limitations including the application of financial statement which based on historic cost rather than reflecting the current market situation. The study perhaps can be extended to include the analysis of earnings performance ratios and market/investor perception toward the resilience of those anchor banks after completing the merger and acquisition mega program.
Building Capable Organization: A Study On Strategic Responses To Increased Global Competition
Authors: Wang Jifu , Ren Luh-Yu
Published: March 2016

While the government still plays a critical role in capitalizing organizational market transformation, firms work hard to improve their management capabilities to manage this transformation. This article outlines the strategic challenges facing a Chinas electric leader as the level of both global and domestic competition rises, and identifies the range of strategic responses being made to overcome these challenges. As the firm builds competitive capabilities, its battle tested strategies may provide useful lessons for todays managers who are also facing a growing range of competitive challenges in the global marketplace.
The Connection Between Culture And Organizational Behavior
Authors: Treven Sonja
Published: March 2016

The paper presents various approaches to studying cultures of different countries. The starting point is the Hofstede's dimensions of cultural values as well as Hall's approach to high- and low- context cultures and Trompenaars model of cultural differences. After that the interaction between culture and organizational behaviuor is discussed. A special attention to the impact of culture on motivation of employees, communication, conflict resolution and organizational changes is given.
The Impact Of Culture On The Purchase Of Life Insurance In Latin America And The Caribbean
Authors: Eck James R. , Nizovtsev Dmitri
Published: March 2016

This study attempts to determine the major reasons for the lack of success in marketing life insurance in Latin America and the Caribbean. Our results point at the importance of cultural variables of which the most significant is the percentage of the population that professes to be Catholic. We attribute this to a strong correlation between religious beliefs and risk preferences. The other major factor is the populations attitude toward financial instruments in general. Both results are robust to the model specification. The findings should be of interest to insurance companies attempting to market life insurance throughout the world.
Economic And Trade Relations With Japan: Trade Tensions, Disputes, And Related Issues
Authors: Kim Ki Hee
Published: March 2016

There have been serious trade disputes between the U.S. and Japan since the mid-1970s. The source of trade dispute is that the U.S. has had large trade deficits which have been caused mostly by large American imports from Japan, especially in the early 1980s when the dollar was appreciating. Since the 1980s, many disputes have arisen due at least in part, to U.S. allegations that Japanese markets are closed to imports because of restrictive practices such as exclusive dealings between domestic manufacturers and distributors. It is further alleged that the practices are tolerated and even encouraged by the Japanese government. It has long been said that the U.S. and Japan should manage their trade friction wisely, so not to embitter the overall relationship between the two countries. This is based upon recognition of the importance of the Japan-U.S. relationships on the one hand, and of the possibility of serious trade friction on the other. This precept is effective because there always remain countries that may not be able to handle it to mutual satisfaction. This paper will analyze trade disputes, tensions, and related issues between the two economic powers to reduce trade conflicts and to improve overall trade relations. Another purpose is to suggest common grounds to minimize trade conflicts between two countries.