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Existing Literature (existing + literature)
Selected AbstractsAn explanation of the forward premium ,puzzle'EUROPEAN FINANCIAL MANAGEMENT, Issue 2 2000Richard Roll Existing literature reports a puzzle about the forward rate premium over the spot foreign exchange rate. The premium is often negatively correlated with subsequent changes in the spot rate. This defies economic intuition and possibly violates market efficiency. Rational explanations include non-stationary risk premia and econometric mis-specifications, but some embrace the puzzle as a guide to profitable trading. We suggest there is really no puzzle. A simple model fits the data: forward exchange rates are unbiased predictors of subsequent spot rates. The puzzle arises because the forward rate, the spot rate, and the forward premium follow nearly non-stationary time series processes. We document these properties with an extended sample and show why they give the delusion of a puzzle. [source] Revisiting Reuben Hill's Theory of Familial Response to Stressors: The Mediating Role of Mental Outlook for Offspring of DivorceFAMILY & CONSUMER SCIENCES RESEARCH JOURNAL, Issue 1 2007Susan Frazier Kahl With data from the National Survey of Families and Households (NSFH), the authors probe the link between parental and second-generation divorce. They investigate whether parental divorce and offspring's subsequent marital behavior are related to mental outlook. Existing literature maintains that children who experience parental divorce are more likely to divorce than their counterparts, yet explanations for this pattern remain contested. Drawing from Reuben Hill's classic ABCX model, the authors derive an analytical model that includes personal as opposed to interpersonal aspects of family crises. Only one factor produces mediating effects. Parental divorce depresses offspring self-satisfaction as opposed to their marital commitment, which subsequently leads to greater odds of their divorce and marital unhappiness. These results suggest the utility of mental outlook in future analytical models and lend continuing support to the viability of Reuben Hill's perspective for disentangling the complexities of family behaviors. [source] Shared Care in Geriatric Oncology: Primary Care Providers' and Medical/Oncologist's PerspectivesJOURNAL OF AMERICAN GERIATRICS SOCIETY, Issue 2009Cynthia Owusu MD Existing literature lends support to the benefit of shared care in the management of chronic diseases, but there are limited data on the feasibility, cost-effectiveness, or benefits of shared care in oncology. A recent conference organized by the Aging and Cancer Program of the Case Comprehensive Cancer Center sought to explore the perceptions of physicians and other allied health professionals who attended the conference about shared care in the acute management of older patients with cancer using a case history presentation and an anonymous audience response system. Analyses of the audience response indicated that shared responsibility and enhanced information exchange in addition to the current level of communication between providers involved in the acute management of older patients with cancer is desirable. Studies exploring the feasibility and benefits of a shared care model in the management of older patients with cancer are needed. [source] Cointegration, Efficiency and Forecasting in the Currency MarketJOURNAL OF BUSINESS FINANCE & ACCOUNTING, Issue 1-2 2001Wilson H. S. Tong Existing literature on using the cointegration approach to examine the efficiency of the foreign exchange market gives mixed results. Arguments typically focus on econometric testing techniques, with fractional cointegration being the most current one. This paper tries to look at the issue from an economic perspective. It shows that the cointegrating relationship, whether cointegrated or fractionally cointegrated, is found mainly among the currencies of the European Monetary System which are set to fluctuate within a given range. Hence, there is no inconsistency with the notion of market efficiency. Yet, exploiting such a cointegrating relationship is helpful in currency forecasting. There is some evidence that restricting the forecasting model to consist of only cointegrated currencies improves forecasting efficiency. [source] Changing Norms of Accountability: Opportunities for Democratic ChangePOLITICS, Issue 3 2010Anne Marie Choup This article considers how civil society can bring about local-level democratic change when national political systems remain authoritarian. Existing literature has tended to focus on democratic characteristics of civil society that reinforce political democratisation. A close reading of the literature on sub-Saharan Africa, along with a Cameroonian case study, illustrates how a civic association can provide opportunities for democratic change by emphasising accountability. This article addresses an important gap in the literature by showing where democratisation opportunities may be limited to the local level but can still improve citizens' quality of life. [source] Networking in the Shadow of Hierarchy: Public Policy, the Administrative Presidency, and the Neoadministrative StatePRESIDENTIAL STUDIES QUARTERLY, Issue 2 2001ROBERT F. DURANT This article argues that developments associated with governance reforms in the United States fundamentally have altered the administrative state and pose new and formidable challenges for the administrative presidency. Existing literature on the administrative presidency is limited in its ability to help conceptualize these changes, to understand the challenges that this "neoadministrative state" poses for presidents and political appointees, and to discern if and how they are coping or can cope with them. A review of the burgeoning and multidisciplinary management literature on executive leadership in the neoadministrative state suggests that presidents and scholars must reconceptualize the administrative presidency. They will have to rethink the strategy's ends (what presidents need to accomplish to advance their agendas), its focus (what its tools are and how to apply them), and its locus (where these tools are applied). To inform this effort, a second generation of research on the administrative presidency is needed. [source] The prevention science of reading research within a Response-to-Intervention modelPSYCHOLOGY IN THE SCHOOLS, Issue 1 2010Erica S. Lembke The purpose of this article is to describe research-based reading intervention within a Response-to-Intervention (RTI) model, using prevention science as a context. First, RTI is defined and a rationale is provided for its use in improving the reading performance of all students, particularly those students identified as at risk for reading-related learning disabilities. Next, reading risk is defined and discussed, including prevalence, antecedents, and how risk is assessed through universal screening and progress monitoring. Existing literature on the use of RTI models in reading is summarized, including small- and large-scale implementation studies. Finally, future research directions in the area of reading within an RTI model are discussed. © 2009 Wiley Periodicals, Inc. [source] ,We, the Congolese, we cannot trust each other'.THE BRITISH JOURNAL OF SOCIOLOGY, Issue 3 2009Democratic Republic of Congo, Trust, norms, relations among traders in Katanga Abstract Congolese traders in Katanga claim that they cannot trust their peers, customers, and employees. Existing literature about social capital in Africa does not enhance our understanding, as it tends to consider trust as depending on the degree of social knowledge. In the Congo, social proximity does not exclude suspicion, nor does social distance necessarily prevent trust. Based on ethnographic fieldwork, this article aims at developing a more detailed framework. It studies how Congolese traders negotiate two key norms for the building of economic trust , property and reciprocity , with non-relatives, distant relatives, and close relatives. [source] O -acetylated sialic acids: Multifaceted role in childhood acute lymphoblastic leukaemiaBIOTECHNOLOGY JOURNAL, Issue 3 2009Suchandra Chowdhury Abstract Childhood acute lymphoblastic leukaemia (ALL), a malignant transformation of the lymphoblasts, is highly responsive to chemotherapy. However, due to certain inadequacy in detection of minimal residual disease (MRD), relapse is a common phenomenon. To address this question, the present review deals with the induction of an unique O -acetyl derivative of sialic acid on a few disease-associated glycoproteins and glycolipids at the onset of childhood ALL, a finding of our group in the last decade. This information has been successfully utilized for diagnosis and prognosis of the disease. Existing literature is included for comparison. Additionally, cell surface overexpression of 9- O -acetylated sialoglycoproteins and antibodies against them present in patients' sera aid the survival of the malignant lymphoblasts and suggest a multifaceted role played by these molecules. Taken together, monitoring these molecules helps not only in unravelling the biology of this paediatric malignancy but also in personalizing the treatment strategies for the betterment of the patient population. [source] COOPERATIVE MANAGERIAL DELEGATION, R&D AND COLLUSIONBULLETIN OF ECONOMIC RESEARCH, Issue 2 2010Rupayan Pal L10; L13 ABSTRACT Existing literature on managerial delegation indicates that collusive outcomes can be obtained in an oligopoly game through cooperative managerial delegation. In contrast, this paper shows that, if managers are delegated to choose R&D, in addition to choosing production levels, full-collusive outcomes,cannot,be achieved through cooperative delegation. Moreover, (i) under cooperative delegation, semi-collusion,always,yields lower profit, higher R&D, higher price and lower social welfare than that in the case of competition and (ii) cooperative delegation leads to a higher profit lower R&D, higher price and lower social welfare than the no delegation case, irrespective of product market conduct. [source] The impact of financial performance on environmental policy: does firm life cycle matter?BUSINESS STRATEGY AND THE ENVIRONMENT, Issue 6 2009Khaled Elsayed Abstract Existing literature has provided inconclusive evidence regarding the impact of financial performance on firm policy relating to environmental issues. In this paper, we propose that the influence of corporate financial performance on corporate environmental policy is unlikely to be monotonic but, rather, will vary with firm life cycle. We test this hypothesis by the application of static and dynamic techniques on panel data from UK companies. The results provide support for our hypotheses that financial performance has the strongest impact on environmental policy in the maturity stage of the firm life cycle and the weakest impact in the rapid growth stage. Copyright © 2007 John Wiley & Sons, Ltd and ERP Environment. [source] Managing stakeholders or the environment?CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT, Issue 1 2009The challenge of relating indicators in practice Abstract Many organizations present their environmental work in the form of annual reports and use the indicators in them for follow-up. However, internal communication and management is needed for environmental improvements. The indicators found in reports may be suitable for external communication, but are they also suitable internally and operationally? This article reviews the existing literature on environmental indicators. With the help of an operational approach, from organisation theory, and a life-cycle approach, indicators are analysed. The analysis shows that formulating indicators for internal management is not an easy task; available guidelines are of little help. It is concluded that the environment can be managed internally by relating indicators. Therefore, an additional set of indicators for internal management and a wider responsibility for the life cycle are recommended. The analysis and recommendations are illustrated with examples drawn from the field of property management. Copyright © 2008 John Wiley & Sons, Ltd and ERP Environment. [source] VIOLENCE AMONG ADOLESCENTS LIVING IN PUBLIC HOUSING: A TWO-SITE ANALYSIS,CRIMINOLOGY AND PUBLIC POLICY, Issue 1 2003TIMOTHY O. IRELAND Research Summary: Current knowledge about violence among public housing residents is extremely limited. Much of what we know about violence in and around public housing is derived from analysis of Uniform Crime Report (UCR) data or victimization surveys of public housing residents. The results of these studies suggest that fear of crime among public housing residents is high and that violent offense rates may be higher in areas that contain public housing compared with similar areas without public housing. Yet, "[r]ecorded crime rates (and victimization rates) are an index not of the rate of participation in crime by residents of an area, but of the rate of crime (or victimization) that occurs in an area whether committed by residents or non-residents" (Weatherburn et al., 1999:259). Therefore, neither UCR nor victimization data measurement strategies address whether crime in and around public housing emanates from those who reside in public housing. Additionally, much of this research focuses on atypical public housing,large developments with high-rise buildings located in major metropolitan areas. To complement the existing literature, we compare rates of self-reported crime and violence among adolescents who reside in public housing in Rochester, N.Y., and Pittsburgh, Pa., with adolescents from the same cities who do not live in public housing. In Rochester, property crime and violence participation rates during adolescence and early adulthood among those in public housing are statistically equivalent to participation rates among those not in public housing. In Pittsburgh, living in public housing during late adolescence and early adulthood, particularly in large housing developments,increases the risk for violent offending, but not for property offending. The current study relies on a relatively small number of subjects in public housing at any single point in time and is based on cross-sectional analyses. Even so, there are several important policy implications that can be derived from this study, given that it moves down a path heretofore largely unexplored. Policy Implications: If replicated, our findings indicate that not all public housing is inhabited disproportionately by those involved in crime; that to develop appropriate responses, it is essential to discover if the perpetrators of violence are residents or trespassers; that policy should target reducing violence specifically and not crime in general; that a modification to housing allocation policies that limits, to the extent possible, placing families with children in late adolescence into large developments might reduce violence perpetrated by residents; that limited resources directed at reducing violence among residents should be targeted at those developments or buildings that actually have high rates of participation in violence among the residents; and that best practices may be derived from developments where violence is not a problem. [source] Cognitive specificity of anxiety disorders: a review of selected key constructsDEPRESSION AND ANXIETY, Issue 2 2006F.R.A.N.Z.C.P., Ph.D., Vladan Starcevic M.D. Abstract Cognitive models of anxiety disorders propose that certain cognitive constructs, that is, underlying beliefs and cognitive processes, may be specific for particular disorders. In this article, we review the specificity of four representative cognitive constructs,anxiety sensitivity, pathological worry, intolerance of uncertainty, and thought,action fusion,for particular disorders. Conceptual overlap, inconsistent definitions, and insufficient consideration of the components of these constructs are limitations of the existing literature. We suggest that the constructs are unlikely to be pathognomonic for any given disorder or to occur in isolation. Rather, the association of each cognitive construct is evident, to varying degrees, with different disorders. Relative to other disorders, anxiety sensitivity is to a certain extent specific for panic disorder, as are pathological worry for generalized anxiety disorder, intolerance of uncertainty for generalized anxiety disorder and obsessive,compulsive disorder, and thought,action fusion for obsessive,compulsive disorder. We discuss the implications of these findings for diagnostic systems and treatment, and suggest areas for further research. Depression and Anxiety 23:51,61, 2006. © 2006 Wiley-Liss, Inc. [source] Financial Liberalisation in Southern Africa: An AssessmentDEVELOPMENT POLICY REVIEW, Issue 3 2004Obert Nyawata In the early 1990s many Southern African economies embarked on financial liberalisation. Although it is too soon to carry out sophisticated econometric analysis of this change in policy, the available empirical evidence may be inspected to see whether it lends support to advocates of financial liberalisation. In this article we explore the avenues through which financial liberalisation might be expected to exert an influence. Consistent with much of the existing literature, we discover that a degree of agnosticism is warranted. Financial liberalisation is no panacea and will not improve economic performance unless accompanied by sound economic policies. It remains difficult to isolate the effects of financial liberalisation from the data available. [source] Documenting the heroin shortage in New South WalesDRUG AND ALCOHOL REVIEW, Issue 4 2006CAROLYN DAY Abstract Australian heroin markets have recently undergone dramatic change, sparking debate about the nature of such markets. This study aimed to determine the onset, peak and decline of the heroin shortage in New South Wales (NSW), using the most appropriate available methods to detect market level changes. The parameters of the heroin shortage were determined by reviewing: reports of heroin users about availability and price (derived from the existing literature and the Illicit Drug Reporting System); qualitative interviews with injecting drug users, and health and law enforcement professionals working in the illicit drug field; and examining data on heroin seizures over the past decade. There was a marked reduction in heroin supply in NSW in early 2001. An increase in the price of heroin occurred in 2001, whereas it had decreased steadily since 1996. A reduction in purity also occurred, as reported by drug users and heroin seizures. The peak period of the shortage appears to have been January to April 2001. The market appears to have stabilised since that time, although it has not returned to pre-2001 levels: heroin prices have decreased in NSW for street grams, but not to former levels, and the price of ,caps' (street deals) remain elevated. Heroin purity in NSW has remained low, with perhaps a 10% increase above the lowest recorded levels. These data support the notion that the heroin market in NSW underwent significant changes, which appear to have involved a lasting shift in the nature of the market. [source] Heroin users in Australia: population trendsDRUG AND ALCOHOL REVIEW, Issue 1 2004C. YALÇIN KAYA Senior Lecturer Abstract The aim of this paper is to identify certain important population trends among heroin users in Australia for the period 1971 , 97, such as: population growth, initiation, i.e. the number who were initiated to heroin in a given year, and quitting, i.e. the number that quit using heroin. For this purpose, we summarize and extract relevant characteristics from data from National Drug Strategy Household Survey (NDSHS 1998) conducted in Australia in 1998. We devise a systematic procedure to estimate historical trends from questions concerning past events. It is observed from our findings that the size of the heroin user population in Australia is in a sharp increase, especially from the early 1980s onwards. The general trend obtained for the period 1971 , 97 is strikingly similar to that obtained by Hall et al. (2000) for the dependent heroin user population in Australia, even though their study was based on different datasets and a different methodology. In our reconstruction of the time history we also detect a levelling-off prior to 1990. Initiation is also observed to be on a sharp increase. The latter trend is accompanied by a similar trend of quitting, perhaps indicating a relatively short heroin use career. A sharp decrease in both initiation and quitting is observed after 1990. In conclusion, in the case of the trend in the population of heroin users a high rate of growth has been identified that is consistent with the existing literature. In the process, we demonstrated that even a static survey such as NDSHS 1998 can, sometimes, be used to extract historical (dynamic) trends of certain important variables. [source] A General Formula for Valuing Defaultable SecuritiesECONOMETRICA, Issue 5 2004P. Collin-Dufresne Previous research has shown that under a suitable no-jump condition, the price of a defaultable security is equal to its risk-neutral expected discounted cash flows if a modified discount rate is introduced to account for the possibility of default. Below, we generalize this result by demonstrating that one can always value defaultable claims using expected risk-adjusted discounting provided that the expectation is taken under a slightly modified probability measure. This new probability measure puts zero probability on paths where default occurs prior to the maturity, and is thus only absolutely continuous with respect to the risk-neutral probability measure. After establishing the general result and discussing its relation with the existing literature, we investigate several examples for which the no-jump condition fails. Each example illustrates the power of our general formula by providing simple analytic solutions for the prices of defaultable securities. [source] The added risk of opioid problem use among treatment-seeking youth with marijuana and/or alcohol problem useADDICTION, Issue 4 2010Geetha A. Subramaniam Abstract Objectives To determine the added risk of opioid problem use (OPU) in youth with marijuana/alcohol problem use (MAPU). Methods A total of 475 youth (ages 14,21 years) with OPU + MAPU were compared to a weighted sample of 475 youth with MAPU only (i.e. no OPU) before and after propensity score matching on gender, age, race, level of care and weekly use of marijuana/alcohol. Youth were recruited from 88 drug treatment sites participating in eight Center for Substance Abuse Treatment-funded grants. At treatment intake, participants were administered the Global Appraisal of Individual Need to elicit information on demographic, social, substance, mental health, human immunodeficiency virus (HIV), physical and legal characteristics. Odds ratios with confidence intervals were calculated. Results The added risk of OPU among MAPU youth was associated with greater comorbidity; higher rates of psychiatric symptoms and trauma/victimization; greater needle use and sex-related HIV risk behaviours; and greater physical distress. The OPU + MAPU group was less likely to be African American or other race and more likely to be aged 15,17 years, Caucasian; report weekly drug use at home and among peers; engage in illegal behaviors and be confined longer; have greater substance abuse severity and polydrug use; and use mental health and substance abuse treatment services. Conclusions These findings expand upon the existing literature and highlight the substantial incremental risk of OPU on multiple comorbid areas among treatment-seeking youth. Further evaluation is needed to assess their outcomes following standard drug treatment and to evaluate specialized interventions for this subgroup of severely impaired youth. [source] Survey Data and the Interest Rate Sensitivity of US Bank Stock ReturnsECONOMIC NOTES, Issue 2 2000H. A. Benink In this paper, we provide empirical evidence on the interest rate sensitivity of the stock returns of the twenty largest US bank holding companies. The main contribution of the paper is the use of survey data to model the unexpected interest rate variable, which is an alternative approach to the existing literature. We find evidence of significant negative interest rate sensitivity during the early 1980s, and evidence of declining significance in the late 1980s and early 1990s. This result is also obtained when using the forecast errors of ARIMA processes to model the unexpected movement in the interest rate. [source] Altruism and Agency in the Family Firm: Exploring the Role of Family, Kinship, and EthnicityENTREPRENEURSHIP THEORY AND PRACTICE, Issue 6 2006Neri Karra This article examines the relationship between altruism and agency costs in family business through an in-depth case study of a family firm. We found that altruism reduced agency costs in the early stages of the business, but that agency problems increased as the venture became larger and more established. Moreover, we suggest that altruistic behavior need not be confined to family and close kin, but may extend through networks of distant kin and ethnic ties. We thus present a more complex view of the agency relationship in family business than is often portrayed in the existing literature. [source] Differential impact of state tobacco control policies among race and ethnic groupsADDICTION, Issue 2007John A. Tauras ABSTRACT Aims This paper describes patterns of racial and ethnic cigarette use in the United States and discusses changes in state-level tobacco control policies. Moreover, this paper reviews the existing econometric literature on racial and ethnic smoking and discusses the limitations of that research. Finally, this paper outlines an agenda for future research. Methods Patterns of racial and ethnic smoking and changes in state-level tobacco control policies in the United States were obtained from a variety of sources, including surveys and government and private documents and databases. After an extensive literature search was completed, the existing research was scrutinized and recommendations for much-needed future research were put forth. Findings Despite the fact that certain racial and ethnic minorities bear a disproportionate share of the overall health burden of tobacco, less than a handful of econometric studies have examined the effects of state-level public policies on racial and ethnic smoking. The existing literature finds Hispanics and African Americans to be more responsive to changes in cigarette prices than whites. Only one study examined other state-level tobacco policies. The findings from that study implied that adolescent white male smoking was responsive to changes in smoke-free air laws, while adolescent black smoking was responsive to changes in youth access laws. Conclusions While much has been learned from prior econometric studies on racial and ethnic smoking in the United States, the existing literature suffers from numerous limitations that should be addressed in future research. Additional research that focuses on races and ethnicities other than white, black and Hispanic is warranted. Furthermore, future studies should use more recent data, hold sentiment toward tobacco constant and control for a comprehensive set of tobacco policies that take into account not only the presence of the laws, but also the level of restrictiveness of each policy. [source] Measures of adherence to epilepsy treatment: Review of present practices and recommendations for future directionsEPILEPSIA, Issue 7 2008Angelia M. Paschal Summary Epilepsy is one of the most common neurological disorders worldwide, and the majority of people with epilepsy who live in developed countries manage their condition with antiseizure medication. Surprisingly, therefore, the literature on epilepsy does not document a comprehensive investigation of patient adherence to medication treatment. This paper reviews existing literature on direct and indirect measures of adherence. Based on this review, areas in need for further research have been identified, including improvement of self-report instruments, consideration of cultural factors, attention to patient literacy or numeracy levels, and inclusion of patient-guided measures. While no single method of determining adherence has proved effective, combining direct and indirect measures in a patient-guided, culturally competent atmosphere may increase adherence to treatment, improving health outcomes for this population. [source] Price Differentials between Dual-class Stocks: Voting Premium or Liquidity Discount?EUROPEAN FINANCIAL MANAGEMENT, Issue 3 2003Robert Neumann G32; G34 Abstract A series of papers suggest that private benefits can explain the price differentials between stock classes carrying different voting rights. However, in Denmark the premium is negative for several firms over long periods. This indicates that in the absence of takeover contests, where the voting right becomes crucial in a transfer of corporate control, the price differential in stock classes with identical dividend rights is more likely to reflect investors' liquidity risks. Whereas the existing literature tends to focus primarily on corporate control-related explanations, this paper documents the impact of liquidity on price spreads between dual-class shares. [source] Implicit and explicit measures of prejudice and stereotyping: do they assess the same underlying knowledge structure?EUROPEAN JOURNAL OF SOCIAL PSYCHOLOGY, Issue 6 2004Michaël Dambrun Do implicit and explicit measures of ethnic attitudes assess the same underlying knowledge structure in long term memory? This study uses both a correlational and an experimental design (N,=,133) in order to address this central question. In the first part, we suggest that self-presentational strategies can partly explain why the relation between implicit and explicit measures is inconsistent in the existing literature. More specifically, we show that when there are strong norms against prejudice, implicit and explicit measures are significantly negatively related. In the second part, an experimental manipulation of relative gratification (RG), the opposite of relative deprivation, reveals that when the level of explicit prejudice increases (RG condition), a similar effect is also observed at the implicit level. Together, these results suggest that implicit and explicit measures assess similar knowledge structure. Copyright © 2004 John Wiley & Sons, Ltd. [source] Evolutionary origins of invasive populationsEVOLUTIONARY APPLICATIONS (ELECTRONIC), Issue 3 2008Carol Eunmi Lee Abstract What factors shape the evolution of invasive populations? Recent theoretical and empirical studies suggest that an evolutionary history of disturbance might be an important factor. This perspective presents hypotheses regarding the impact of disturbance on the evolution of invasive populations, based on a synthesis of the existing literature. Disturbance might select for life-history traits that are favorable for colonizing novel habitats, such as rapid population growth and persistence. Theoretical results suggest that disturbance in the form of fluctuating environments might select for organismal flexibility, or alternatively, the evolution of evolvability. Rapidly fluctuating environments might favor organismal flexibility, such as broad tolerance or plasticity. Alternatively, longer fluctuations or environmental stress might lead to the evolution of evolvability by acting on features of the mutation matrix. Once genetic variance is generated via mutations, temporally fluctuating selection across generations might promote the accumulation and maintenance of genetic variation. Deeper insights into how disturbance in native habitats affects evolutionary and physiological responses of populations would give us greater capacity to predict the populations that are most likely to tolerate or adapt to novel environments during habitat invasions. Moreover, we would gain fundamental insights into the evolutionary origins of invasive populations. [source] A Multistage Model of Loans and the Role of RelationshipsFINANCIAL MANAGEMENT, Issue 4 2009Sugato Chakravarty We develop a multistage model of the loan granting process to understand the contradictory findings of the existing literature on bank-borrower relationships, credit availability, and loan rates. Upon estimating our model with the 1993, 1998, and 2003 versions of the Survey of Small Business Finances data set, we find that relationships matter in a borrower's decision whether to apply for a loan and in the loan approval/rejection decision by the financial institution. However, the effect of relationships on loan rates depends on the prevailing economic climate. While firms with preexisting relationships obtain credit at lower rates during periods of economic expansion, loan rates are not negatively correlated with preexisting relationships during periods of economic recession. [source] Signaling, Free Cash Flow and "Nonmonotonic" DividendsFINANCIAL REVIEW, Issue 1 2010Kathleen Fuller G35 Abstract Many argue that dividends signal future earnings or dispose of excess cash. Empirical support is inconclusive, potentially because no model combines both rationales. This paper does. Higher quality firms pay dividends to eliminate the free cash-flow problem, while firms that outsiders perceive as lower quality pay dividends to signal future earnings and reduce the free cash-flow problem. In equilibrium, dividends are nonmonotonic with respect to the signal observed by outsiders; the highest quality firms pay smaller dividends than lower perceived quality firms. The model reconciles the existing literature and generates new empirical predictions that are tested and supported. [source] Exploring the Challenges of Climate Science Literacy: Lessons from Students, Teachers and Lifelong LearnersGEOGRAPHY COMPASS (ELECTRONIC), Issue 9 2010Lesley-Ann L. Dupigny-Giroux Today more than ever, being climate literate is a critical skill and knowledge area that influences our interaction with the environment around us, our understanding of scientific news and the daily decisions that we make. Yet, the term climate literacy can be misunderstood, as are the terms weather, climate and climate variability. This article surveys the existing literature and highlights six challenges to achieving a climate literate citizenry in both formal and informal or lifelong learning. The lessons learned from high school and undergraduate students, teachers and lifelong learners, many of whom are retired, serve as the threads which are woven into a tapestry of strategies for embedding climate science principles across entire school curricula as well as society at large. [source] A Micro-Simulation Approach to Modelling Spatial Unemployment DisparitiesGROWTH AND CHANGE, Issue 3 2010DAVID PHILIP MCARTHUR ABSTRACT This paper aims to construct a comprehensive model capable of simulating spatial unemployment disparities. The key feature of the model is that it simultaneously deals with commuting and migration. Much of the existing literature simply models one adjustment mechanism at a time. This paper adopts a micro-simulation approach to build a model which can deal with equilibrium and disequilibrium unemployment disparities in a context where commuting and migration are possible. The model is then used to demonstrate the importance of considering both types of flows and to guide future empirical and theoretical work in the area. [source] | |||||||||||||||||||||||||||||||||||||||||||||||||