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Market Success (market + success)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	50%

Selected Abstracts

Schooling, Literacy, Numeracy and Labour Market Success

THE ECONOMIC RECORD, Issue 245 2003
Barry R. Chiswick
The present paper uses data from the 1996 Australian Aspects of Literacy survey to examine the effects on labour market outcomes of literacy, numeracy and schooling. The survey includes a range of literacy and numeracy variables that are highly intercorrelated. A ,general to specific' approach identifies the most relevant literacy and numeracy variables. Including the others adds little explanatory power. Among males and females separately, approximately half of the total effect of schooling on labour force participation and on unemployment can be attributed to literacy and numeracy (the indirect effect) and approximately half to the direct effect of schooling. There is apparently no indirect effect of labour market experience through literacy and numeracy on participation or unemployment. The direct and total effects of experience are the same. Similarly, the direct and total effects of literacy and numeracy are reasonably similar to each other. [source]

Monoclonal antibodies: a morphing landscape for therapeutics

DRUG DEVELOPMENT RESEARCH, Issue 10 2006
Nicholas C. Nicolaides
Abstract The concept of using antibodies as therapeutics to cure human diseases was postulated nearly 100 years ago by Paul Ehrlich and subsequently enabled by the discovery of hybridoma technology by Kohler and Milstein in 1975. While the use of monoclonal antibodies (mAbs) as drugs that can specifically target a disease-associated antigen is compelling, it has taken a quarter century for these molecules to be adopted as bona fide therapeutic agents. Despite their slow pursuit in drug development during the pioneering years, it is now estimated that there are nearly 500 mAb-based therapies in development. Major factors that have influenced the acceptance of monoclonal antibodies as therapeutics include their drug safety profiles, technological advancements for facilitating mAb discovery and development, and market success. Early on, it was demonstrated that antibodies could elicit clinical benefit by antagonizing a specific antigen without the common side effects that are prevalent with small chemical entities due to their nonspecific effects on homeostatic biochemical pathways. In addition, the significant technological advances that the biotechnology industry has established for developing and producing monoclonal antibodies at commercial scale in a more efficient and cost-effective manner has broadly enabled their use as therapeutics. However, despite the beneficial pharmacologic advantages and technological advances, it has been the sheer market success that monoclonal antibody products have achieved over the past few years that has propelled their vast pursuit by the biopharmaceutical industry in light of their value-creating potential. Here we provide an overview of the monoclonal antibody industry and discuss evolving technologies and strategies that are being pursued to overcome challenges in the changing marketplace. Drug Dev. Res. 67:781,789, 2006. © 2007 Wiley-Liss, Inc. [source]

Do Peer Groups Matter?

ECONOMICA, Issue 277 2003
Peer Group versus Schooling Effects on Academic Attainment
This paper estimates an educational production function. Educational attainment is a function of peer group, parental input and schooling. Conventional measures of school quality are not good predictors for academic attainment, once we control for peer group effects; parental qualities also have strong effects on academic attainment. This academic attainment is a then a key determinant of subsequent labour market success, as measured by earnings. The main methodological innovation in this paper is the nomination of a set of instruments, very broad regions of birth, which, as a whole, pass close scrutiny for validity and permit unbiased estimation of the production function. [source]

Occupational Trajectories of Legal US Immigrants: Downgrading and Recovery

POPULATION AND DEVELOPMENT REVIEW, Issue 3 2008
Ilana Redstone Akresh
Data from the New Immigrant Survey 2003 are examined to analyze trajectories in occupational prestige between the last job abroad and the first US job and from the first US job to the current US job for a select sample of men and women. Incorporating the first job in the United States overcomes an important limitation faced by many previous studies that were generally restricted to a comparison of the last job abroad and the US job as measured at the time of the survey. Distinctions are made between class-of-admission groups, since the trajectories toward labor market success vary systematically along that dimension. Consistent with a model of immigrant occupational assimilation, all preference groups show a U-shaped adjustment pattern with, on average, initial downgrading followed by subsequent ascension. However, although all groups exhibit a similar pattern, the trough of the U is deepest for refugees, who also experience the steepest subsequent upward climb. [source]

FREE CASH FLOW AND PUBLIC GOVERNANCE: THE CASE OF ALASKA

JOURNAL OF APPLIED CORPORATE FINANCE, Issue 3 2000
Dwight R. Lee
In a widely cited 1986 article in the American Economic Review, Michael Jensen gave the concept of free cash flow (FCF) a new twist by redefining it as cash flow in excess of that required to fund all projects with positive net present values. Put another way, FCF represents funds available in the firm that managers may choose to hold as idle cash, return to shareholders, or invest in projects with returns below the firm's cost of capital. In redefining FCF in this way, Jensen converted FCF from a measure of economic income and value into a measure of corporate assets available for discretionary, and potentially value-destroying, use by firm managers. And, as he argued in his important article, managers in mature businesses with substantial free cash flow have a tendency to destroy value by plowing too much capital back into those businesses or, often worse, making ill-advised acquisitions in unrelated businesses. Several methods have been developed in financial markets and internal corporate governance systems to discourage managers from wasting FCF. Better monitoring by boards of directors, large ownership blocks, and properly aligned management compensation contracts are all parts of the solution. And the extraordinary increase in stock repurchases in recent years, invariably applauded by investors, is another illustration of the market's success in encouraging companies to address their free cash flow problems. But if the "FCF problem" of the private sector has attracted considerable attention from finance scholars, the problem is even more acute in the public sector, where FCF can be thought of as tax revenue in excess of what is required to finance well-defined and generally accepted levels of public services. Unlike the private sector, in the public sector there are neither measures nor mechanisms by which to monitor and constrain wasteful spending by elected officials. In this article, the authors attempt to measure the costs to taxpayers of government FCF using the case of Alaska, which since 1969 has received a huge windfall of tax revenue from North Slope oil leases. After examining the state's public finances from 1968 through 1993, the authors offer $25 billion as a conservative estimate of the social losses from Alaska's waste of free cash flow during that 25-year period. [source]