bluuebunny/crossref_metadata_2025_split huggingface dataset:
Die Vorteile des Staatsmonopols in der Gebäudeversicherung: Erfahrungen aus Deutschland und der Schweiz
Authors: Ungern-Sternberg Thomas von 
Published: March 2003

Abstract This paper compares the prices charged and the quality of service provided by state monopolies and private insurance companies on the property insurance market. Both the cross-section data from Switzerland and the time-series evidence from Germany strongly suggest that in this specific market the presence of state monopolies is very advantageous for the customers. This raises the question why German academic economists made practically no effort to defend their state insurance monopolies in the debate about the 3rd EU directive on property insurance. Is it possible that peer pressure prevents academic economists from standing up to defend state monopolies, even if these are clearly to the benefit of consumers?
Wie kann die Verbreitung von neuem Wissen in Europa gefördert werden?
Authors: Durth Rainer 
Published: March 2003

Abstract In knowledge-based economies the effective use of new knowledge is the most important determinant of economic growth, and the capacity to generate and diffuse innovation forms the basis of comparative advantages. Transaction costs are the main reason why new knowledge takes so much time to spread around. Since clusters attract new ideas more easily, transaction costs may also cause regional divergence. European diffusion policies should therefore aim to minimize transaction costs for exchanging knowledge. It is proposed that this could be done by supporting extra-legal contractual relations guaranteed by third parties and by building up a rating system for trustworthiness of transaction partners.
Rentenreformen 1998–2001: Eine (vorläufige) Bestandsaufnahme
Authors: Borgmann Christoph , Krimmer Pascal , Raffelhüschen Bernd 
Published: March 2003

Abstract Since the current German government has stepped into office, there have been numerous corrections to the `pay-as-you-go-financed’ Social Security system. Adjustments to both the pressure of demographics and the labour market will have severe intergenerational impacts, which are reported with the help of generational accounting. Our findings suggest that the recent reform proposals do in fact reduce the burden on future generations. In the early version of the reform proposal mainly the younger generations paid the price, whereas the version which has been passed into law shifts most of the burden to the elderly.
Devisenmarktoperationen und Informationspolitik der Europäischen Zentralbank
Authors: Frenkel Michael , Pierdzioch Christian , Stadtmann Georg 
Published: March 2003

AbstractThis paper analyzes the effectiveness of the foreign exchange market interventions of the European Central Bank (ECB) by studying the information policy of the ECB and examining whether the ECB relied on a specific transmission channel to influence exchange rates. Against the background of a discussion of the transmission channels through which foreign exchange market interventions of central banks may affect exchange rates, we are led to the conclusion that the information policy of the ECB was not in line with the assumptions underlying the transmission channels discussed in the theoretical literature. We argue that this finding could provide a possible explanation for the ineffectiveness of the ECB's foreign exchange market intervention in the fall of 2000.
Stand und Perspektiven der Evaluation der Aktiven Arbeitsmarktpolitik in Deutschland
Authors: Fitzenberger Bernd , Hujer Reinhard 
Published: March 2003

Abstract This paper gives an overview on the design and the evaluation of Active Labor Market Policy (AAMP) in Germany. While expenditure on AAMP is very high (43 billion DM in 2000), a comprehensive evaluation of its effects is missing. We discuss the methodological problems involved and the data requirements for a convincing evaluation. In the past, policy makers did not appear interested in a scientific evaluation of their sometimes erratic AAMP and no appropriate data were made available. This situation is changing slowly and awareness for the necessity of evaluation is increasing. However, there is the risk that some recent attempts by policy makers to foster evaluation may prove counterproductive.
Fiscal and Regulatory Competition: Theory and Evidence
Authors: Oates Wallace E. 
Published: March 2003

AbstractThis paper reviews first the theoretical literature and then the empirical studies of interjurisdictional competition among governments. Of central interest is the normative question of whether fiscal and regulatory competition promotes a more efficient functioning of the public sector or whether it is the source of distortions in the public and private sectors. This is a contentious issue; both the theoretical and empirical literature, while providing some rich insights into the potential impact of such competition, do not give us an unambiguous answer to the general normative question. The concluding section offers the author's thoughts on all this with a leaning towards the view that such competition is, on balance, efficiency-enhancing.
A study of Mind Image Drawings
Authors: Murayama Kumiko 
Published: March 2003

Abstract:This report dealt with a newly introduced method of drawing named, “Mind Image Drawings.” First, the subjects depicted images in their mind freely. Second, the subjects described their own pictures using three epithets. Third, the subjects added “I am” to these words, and read them aloud. Through these techniques, the subjects not only projected the unconscious side of their mind in the drawings, but also could obtain insight into their mind on the cognitive level. Last, the subjects judged their drawings using 17 semantic differential scales. The “originality factor,” the “evaluation factor,” and several types of “expressiveness factors” were extracted in the factor analyses of the scales.
10‐month‐old infants’ inference of invisible agent: Distinction in causality between object motion and human action1
Authors: Kosugi Daisuke , Ishida Hiraku , Fujita Kazuo 
Published: March 2003

Abstract: Two habituation experiments investigated 10‐month‐old infants’ interpretation of events where a stationary object began to move without any visible causes. During habituation, infants saw that an object partly hidden by an occluder began to move away from the occluder. Then, they were tested with three test events without the occluder: the ﬁrst event showed a hand pushing the object, the second event showed a hand failing to touch the object, and the last event had no agent. The objects were a ball in Experiment 1, and a person in Experiment 2. The test event that the infants looked at for the shortest duration in Experiment 1 was where the hand pushed the ball, whereas they looked at the three test events almost equal amounts of time in Experiment 2. These results indicate that 10‐month‐old infants responded to the events in terms of causality and could infer the presence of the agent behind the occluder only when they saw the habituation event featuring the ball.
Learning Processes for Crisis Management in Complex Organizations
Authors: Lagadec Patrick 
Published: March 2003

Safety practices and preparations for limited emergencies are common activities in complex systems. In contrast, the vital task of planning for a crisis is usually poorly handled. This paper seeks to provide a better understanding of the prerequisites for successful learning processes to deal with crisis situations. It reveals the barriers that emerge during the process of developing satisfactory learning practices.The objectives of this paper are twofold. The first aim is operational: how can one develop adequate learning processes despite the challenges involved? The second aim is theoretical: what light do these efforts and the resistance they arouse shed on the debate between ‘High Reliability Theorists’ and ‘Normal Accident Theorists’, in which the status of learning processes is a key element. The author refers to his personal experience with crisis research and consultation.
Autism and a deficit in broadening the spread of visual attention
Authors: Mann Tania A. , Walker Peter 
Published: March 2003

Background: This study examines if visual attention in autism is spatially overfocused (Townsend & Courchesne, 1994) and if there is an associated deficit in broadening the spatial spread of attention.Method: Two crosshairs were presented on each trial separated by a brief (500 ms) interval. There was a modest difference in the lengths of the two hairs in each crosshair and participants had to decide which one was longest. Previous research (Mack & Rock, 1998) has revealed that in making this judgement people spread their visual attention to embrace the whole crosshair. Varying the overall size of each crosshair was intended to control participants’ spread of attention. The impact of the size of the first crosshair gave an indication of participants’ default setting for the spread of attention. The impact of the size transition between the first and second crosshair gave an indication of the fluency with which participants could change the spatial spread of visual attention.Results: Based on the first proposal it was predicted that individuals with autism (N=13), relative to ability‐matched moderately learning disabled (N=15) and typically developing individuals (N=15), would be more accurate and quicker to respond when the first crosshair was small rather than large. However, the results revealed no effects of the size of the first crosshair and no group differences. Based on the second proposal it was predicted that individuals with autism, relative to both control groups, would be less accurate and slower to respond to the second crosshair when the size transition from the first crosshair involved a change from small to large (in comparison with large to large), but would not differ when the change was from large to small (in comparison with small to small). This prediction was confirmed.Conclusion: Autism is associated with a deficit in broadening the spatial spread of visual attention. The implications of this for other visual and attentional anomalies observed in autism are discussed.
The Rett Syndrome Behaviour Questionnaire (RSBQ): refining the behavioural phenotype of Rett syndrome
Authors: Mount Rebecca H. , Charman Tony , Hastings Richard P. , Reilly Sheena , Cass Hilary 
Published: March 2003

Background:Although physical features, including loss of hand skills, deceleration of head growth, spasticity and scoliosis, are cardinal features of Rett syndrome (RS), a number of behavioural features are also associated with the disorder, including hand stereotypies, hyperventilation and breath holding. No study has tested the specificity of these behavioural features to individuals with RS, compared to individuals with severe to profound mental retardation (SMR).Method:A novel checklist of characteristic RS behavioural and emotional features, the Rett Syndrome Behaviour Questionnaire (RSBQ), was developed to test the type and specificity of behavioural features of RS against those found in girls with SMR.Results:After controlling for the effects of RS‐related physical disabilities, the RSBQ discriminated between the groups. Some aspects of the behaviours found to be specific to RS are included in the necessary or supportive RS diagnostic criteria, notably hand behaviours and breathing problems. Additional behavioural features were also more frequently reported in the RS than the SMR group, including mood fluctuations and signs of fear/anxiety, inconsolable crying and screaming at night, and repetitive mouth and tongue movements and grimacing.Conclusions:Full validation of the scale requires confirmation of its discriminatory power and reliability with independent samples of individuals with RS and SMR. Further delineation of the specific profile of behaviours seen in RS may help in identification of the function of the MECP2 gene and in improved differential diagnosis and management of individuals with RS.
Industrial Companies' Evaluation Criteria in New Product Development Gates
Authors: Hart Susan , Jan Hultink Erik , Tzokas Nikolaos , Commandeur Harry R. 
Published: March 2003

This article presents the results of a study on the evaluation criteria that companies use at several gates in the NPD process. The findings from 166 managers suggest that companies use different criteria at different NPD evaluation gates. While such criteria as technical feasibility, intuition and market potential are stressed in the early‐screening gates of the NPD process, a focus on product performance, quality, and staying within the development budget are considered of paramount importance after the product has been developed. During and after commercialization, customer acceptance and satisfaction and unit sales are primary considerations.In addition, based on the performance dimensions developed by Griffin and Page (1993), we derive patterns of use of various evaluative dimensions at the NPD gates. Our results show that while the market acceptance dimension permeates evaluation at all the gates in the NPD process, the financial dimension is especially important during the business analysis gate and after‐market launch. The product performance dimension figures strongly in the product and market testing gates. The importance of our additional set of criteria (i.e., product uniqueness, market potential, market chance, technical feasibility, and intuition) decreases as the NPD process unfolds. Overall the above pattern of dimensions' usage holds true for both countries in which we collected our data, and across firms of different sizes, holding different market share positions, with different NPD drivers, following different innovation strategies, and developing different types of new products. The results also are stable for respondents that differ in terms of expertise and functional background.The results of this study provide useful guidelines for project selection and evaluation purposes and therefore can be helpful for effective investment decision‐making at gate‐meetings and for project portfolio management. We elaborate on these guidelines for product developers and marketers wishing to employ evaluation criteria in their NPD gates, and we discuss directions for further research.
Have Americans' Attitudes Become More Polarized?—An Update*
Authors: Evans John H. 
Published: March 2003

Objective I examine polarization in public opinion using the method of DiMaggio, Evans, and Bryson (DEB) (1996), but go further than DEB by using newly available years of survey data.Method Like DEB, I derive aggregate distributional parameters for social groups in each year of the surveys, and then regress the year of the surveys on each parameter.Results As in DEB's original paper, there is little evidence of general polarization in attitudes between the early 1970s and today. However, while DEB found some evidence that polarization in the public may be the result of polarization in our political system, with the additional years of data this conclusion is inescapable.Conclusions Although political scientists have recently found polarization among our elected officials on economic issues, it seems clear that members of the public who identify with the partisan labels of our political system are becoming polarized on moral issues.
What Drives Firm‐Level Stock Returns?
Authors: Vuolteenaho Tuomo 
Published: March 2003

ABSTRACTI use a vector autoregressive model (VAR) to decompose an individual firm's stock return into two components: changes in cash‐flow expectations (i.e., cash‐flow news) and changes in discount rates (i.e., expected‐return news). The VAR yields three main results. First, firm‐level stock returns are mainly driven by cash‐flow news. For a typical stock, the variance of cash‐flow news is more than twice that of expected‐return news. Second, shocks to expected returns and cash flows are positively correlated for a typical small stock. Third, expected‐return‐news series are highly correlated across firms, while cash‐flow news can largely be diversified away in aggregate portfolios.
The Effects of Banking Mergers on Loan Contracts
Authors: Sapienza Paola 
Published: March 2003

ABSTRACTThis paper studies the effects of banking mergers on individual business borrowers. Using information on individual loan contracts between banks and companies, I analyze the effect of banking consolidation on banks' credit policies. I find that inmarket mergers benefit borrowers if these mergers involve the acquisition of banks with small market shares. Interest rates charged by the consolidated banks decrease, but as the local market share of the acquired bank increases, the efficiency effect is offset by market power. Mergers have different distributional effects across borrowers. When banks become larger, they reduce the supply of loans to small borrowers.
Does Corporate Diversification Destroy Value?
Authors: Graham John R. , Lemmon Michael L. , Wolf Jack G. 
Published: March 2003

ABSTRACTWe analyze several hundred firms that expand via acquisition and/or increase their number of business segments. The combined market reaction to acquisition announcements is positive but acquiring firm excess values decline after the diversifying event. Much of the excess value reduction occurs because our sample firms acquire already discounted business units, and not because diversifying destroys value. This implies that the standard assumption that conglomerate divisions can be benchmarked to typical stand‐alone firms should be carefully reconsidered. We also show that excess value does not decline when firms increase their number of business segments because of pure reporting changes.
The Volatility and Price Sensitivities of Managerial Stock Option Portfolios and Corporate Hedging
Authors: Knopf John D. , Nam Jouahn , Thornton John H. 
Published: March 2003

ABSTRACTWe use estimates of the Black—Scholes sensitivity of managers' stock option portfolios to stock return volatility and the sensitivity of managers' stock and stock option portfolios to stock price to test the relationship between managers' risk preferences and hedging activities. We find that as the sensitivity of managers' stock and stock option portfolios to stock price increases, firms tend to hedge more. However, as the sensitivity of managers' stock option portfolios to stock return volatility increases, firms tend to hedge less.
Liquidity Provision and the Organizational Form of NYSE Specialist Firms
Authors: Coughenour Jay F. , Deli Daniel N. 
Published: March 2003

ABSTRACTWe examine the influence of NYSE specialist firm organizational form on the nature of liquidity provision. We compare closely held firms whose specialists provide liquidity with their own capital to widely held firms whose specialists provide liquidity with diffusely owned capital. We argue that specialists using their own capital have a greater incentive and ability to reduce adverse selection costs, but face a greater cost of capital. Differences in the proportion of spreads due to adverse selection costs, large trade frequency, the sensitivity between depth and spreads, and price stabilization support this argument.
Dividends, Share Repurchases, and the Substitution Hypothesis
Authors: Grullon Gustavo , Michaely Roni 
Published: March 2003

ABSTRACTWe show that repurchases have not only became an important form of payout for U.S. corporations, but also that firms finance their share repurchases with funds that otherwise would have been used to increase dividends. We find that young firms have a higher propensity to pay cash through repurchases than they did in the past and that repurchases have become the preferred form of initiating a cash payout. Although large, established firms have generally not cut their dividends, they also show a higher propensity to pay out cash through repurchases. These findings indicate that firms have gradually substituted repurchases for dividends. Our results also suggest that before 1983, regulatory constraints inhibited firms from aggressively repurchasing shares.
Disassembly of Human Immunodeficiency Virus Type 1 Cores In Vitro Reveals Association of Nef with the Subviral Ribonucleoprotein Complex
Authors: Forshey Brett M. , Aiken Christopher 
Published: March 2003

ABSTRACT
The human immunodeficiency virus type 1 (HIV-1) virulence factor Nef enhances viral infectivity in single-cycle infection assays and accelerates HIV-1 replication in vitro. It has been reported that the effects of Nef are mediated early after viral entry and before the completion of reverse transcription, as viral DNA synthesis is strongly attenuated during infection by Nef-defective virions. Our previous work has demonstrated that Nef is associated with mature HIV-1 cores, implicating Nef in the regulation of HIV-1 core stability. Here we report a comparative analysis of HIV-1 cores isolated from wild-type and Nef-defective particles. We observed no effect of Nef on HIV-1 core structure or stability; however, Nef cosedimented with a subviral ribonucleoprotein complex following dissociation of CA. These results indicate that Nef interacts tightly with an internal component of the HIV-1 core. They further suggest that virion-associated Nef may facilitate an early step in HIV-1 infection following dissociation of the viral capsid in the target cell.
ESTIMATING THE APPROXIMATION ERROR IN LEARNING THEORY
Authors: SMALE STEVE , ZHOU DING-XUAN 
Published: March 2003

Let B be a Banach space and (ℋ,‖·‖ℋ) be a dense, imbedded subspace. For a ∈ B, its distance to the ball of ℋ with radius R (denoted as I(a, R)) tends to zero when R tends to infinity. We are interested in the rate of this convergence. This approximation problem arose from the study of learning theory, where B is the L2 space and ℋ is a reproducing kernel Hilbert space. The class of elements having I(a, R) = O(R-r) with r > 0 is an interpolation space of the couple (B, ℋ). The rate of convergence can often be realized by linear operators. In particular, this is the case when ℋ is the range of a compact, symmetric, and strictly positive definite linear operator on a separable Hilbert space B. For the kernel approximation studied in Learning Theory, the rate depends on the regularity of the kernel function. This yields error estimates for the approximation by reproducing kernel Hilbert spaces. When the kernel is smooth, the convergence is slow and a logarithmic convergence rate is presented for analytic kernels in this paper. The purpose of our results is to provide some theoretical estimates, including the constants, for the approximation error required for the learning theory.