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Practical Perspective (practical + perspective)
Selected AbstractsA THEORETICAL AND PRACTICAL PERSPECTIVE ON THE EQUITY RISK PREMIUM,JOURNAL OF ECONOMIC SURVEYS, Issue 2 2008Roelof SalomonsArticle first published online: 10 MAR 200 Abstract In historical perspective, equity returns have been higher than interest rates but have also varied a good deal more. However, the average excess return has been larger than what could be expected based on classical equilibrium theory: the equity risk premium (ERP) puzzle. This paper has two objectives. First, the paper presents a comprehensive overview of the vast literature developed aimed at adjusting theory and testing the robustness of the puzzle. Here we will show that the failure of theory to link asset prices to economics is mostly quantitative by nature and not qualitative (anymore). Second, beyond providing a survey of theory, we aim for a relevant practical angle as well. Our main contribution is that we spend time on why returns have been higher than investors reasonably could have expected. We present evidence that forecasts of equity returns can be enhanced by valuation models: low valuation levels (low price-to-earnings ratios) portend high subsequent returns. While conventional wisdom (several years ago) was to use historical returns to forecast future returns, a growing consensus now recognizes that the predictive power of valuation ratios is preferred. Finally we provide some practical implications based on this predictability. While the ERP is essentially a long-term issue, the likelihood of a lower risk premium increases risk for many and means that short-term volatility might not be neglected. [source] Scientific Data Mining: A Practical Perspective.BIOMETRICAL JOURNAL, Issue 3 2010No abstract is available for this article. [source] The Glory of the Atonement: Biblical, Historical and Practical Perspectives: Essays in Honor of Roger Nicole , Edited by Charles E. Hill and Frank A. James IIIRELIGIOUS STUDIES REVIEW, Issue 2 2006Hans Boersma No abstract is available for this article. [source] Balancing global and local strategic contexts: Expatriate knowledge transfer, applications, and learning within a transnational organizationHUMAN RESOURCE MANAGEMENT, Issue 4 2007J. Barry Hocking We investigate how expatriates contribute to the transnational firm's strategic objectives of global efficiency, national ("local") responsiveness, and worldwide learning. We focus on expatriate knowledge application and experiential learning achievements, two assignment-based outcomes of potential strategic value to the firm. We assess how the individual's everyday knowledge access and communication activities, measured by frequency and geographic extent, affect these assignment outcomes. Within our case organization, a prototype transnational firm, we find that expatriate knowledge applications result from frequent knowledge access and communication with the corporate headquarters and other global units of the firm. In contrast, their experiential learning derives from frequent access to hostcountry (local) knowledge that subsequently is adapted to the global corporate context. From a practical perspective, we conclude that experiential learning is an invaluable resource for both present and future corporate assignments. © 2007 Wiley Periodicals, Inc. [source] Generation, modeling, and analysis of CCII-based gyrators using the generalized symbolic framework for linear active circuitsINTERNATIONAL JOURNAL OF CIRCUIT THEORY AND APPLICATIONS, Issue 3 2008Ramy A. Saad Abstract In this paper, CCII-based gyrators are synthesized, modeled, and analyzed using the generalized symbolic framework for linear active circuits. The systematic synthesis method using admittance matrix expansion, included in the framework, is applied to generate optimized nullor,mirror descriptions for the gyrator. The resulting CCII-based circuit representations for the gyrators, obtained from mapping nullor,mirror pairs in the ideal realizations with equivalent second-generation current conveyors (CCIIs), can be classified into two topologies according to the type of the CCII terminals handling the gyrator input and output signals. In topology I, the gyrator input and output terminals are CCIIs Y,Z -terminals, whereas in topology II, the gyrator input and output terminals are CCIIs X -terminals. The parasitic components within the synthesized circuits, associated with the actual CCIIs, are modeled and included in their expanded admittance matrices. Exact non-ideal analysis for two circuits belonging to the two topologies, involving the reduction of their expanded admittance matrices to port admittance matrices, is then carried out to investigate the practical functional performance for these circuits at their ports. The non-ideal performance analysis based on the CCII actual parasitic elements indicates that, from a practical perspective, the CCII-based gyrator circuits belonging to topology I are more efficient and suitable for the gyrator applications than those belonging to topology II in terms of bandwidth and operation at high frequencies. SPICE simulations are included to demonstrate the analytical results for the comparison between the practical performances of the two circuit topologies. Copyright © 2007 John Wiley & Sons, Ltd. [source] Fuzzy quantification in two real scenarios: Information retrieval and mobile roboticsINTERNATIONAL JOURNAL OF INTELLIGENT SYSTEMS, Issue 6 2009Félix Díaz-Hermida Fuzzy quantification supplies powerful tools for handling linguistic expressions. Nevertheless, its advantages are usually shown at the theoretical level without a proper empirical validation. In this work, we review the application of fuzzy quantification in two application domains. We provide empirical evidence on the adequacy of fuzzy quantification to support different tasks in the context of mobile robotics and information retrieval. This practical perspective aims at exemplifying the actual benefits that real application can get from fuzzy quantifiers. © 2009 Wiley Periodicals, Inc. [source] Using knowledge within small and medium-sized firms: A systematic review of the evidenceINTERNATIONAL JOURNAL OF MANAGEMENT REVIEWS, Issue 4 2005Richard Thorpe This paper provides a systematic review of the literature on how small and medium-sized enterprises (SMEs) use and acquire knowledge. The review was undertaken as part of the Economic and Social Research Council's Evolution of Business Knowledge Programme. The paper describes the systematic review protocol and provides a detailed explanation of the methods used. From the review, it is evident that SME knowledge research concentrates primarily on the acquisition and use of knowledge, treating it as an asset that is transferred by routines. The findings suggest that research is focused in three main areas. First, on the influence and abilities of the entrepreneur to extract, use and develop knowledge resources. Secondly, on firm-wide systems and the social capital that facilitates knowledge exploration and exploitation. Thirdly, on the provision of knowledge and learning experiences through government policy. From a practical perspective, the review concludes that policies encouraging entrepreneurship and economic regeneration need to be more flexible and sensitive to the often complex contexts within which knowledge is used by SMEs. From a research perspective, and given the flexible, opportunity-oriented and often novel nature of SMEs identified in these studies, there is a need to consider the relational and embedded qualities of knowledge by which these characteristics are framed; qualities that resist conceptualization as some form of separable, material asset. [source] The Impact of Justice and Self-Serving Bias Explanations of the Perceived Fairness of Different Types of Selection TestsINTERNATIONAL JOURNAL OF SELECTION AND ASSESSMENT, Issue 1-2 2004N. Schmitt Reactions to the use of the ACT/SAT, biodata, and situational judgment measures in college admissions decisions were collected from 644 college freshmen. Evaluation of a series of models of fairness perceptions indicated that self-serving bias and organizational justice explanations may both be responsible for these reactions. Examination of respondents' beliefs about their performance compared with other students' performance also elicited responses that may be attributable to concerns about distributive justice. A variety of perceptual processes may explain fairness perceptions, but from a practical perspective, it may be easiest to manipulate examinees' perceptions of the relevance, and indirectly, the perceived fairness of the selection procedures used to make major selection or admissions decisions. [source] Statistical Efficiency: The Practical PerspectiveQUALITY AND RELIABILITY ENGINEERING INTERNATIONAL, Issue 4 2003Ron S. Kenett Abstract The idea of adding a practical perspective to the mathematical definition of statistical efficiency is based on a suggestion by Churchill Eisenhart who, years ago gave, in an informal ,Beer and Statistics' seminar, a new definition of statistical efficiency. Later Bruce Hoadley from Bell Laboratories picked up where Eisenhart left off and added his version nicknamed ,Vador'. Blan Godfrey, former CEO of the Juran Institute, more or less used Hoadley's idea during his Youden Address at the Fall Technical Conference of the American Society for Quality Control. We expand on this idea adding an additional component, the value of the data actually collected, which we believe is critical to the overall idea. The concept of Practical Statistical Efficiency (PSE) derived from these developments is introduced and demonstrated using five case studies. We suggest that PSE be considered before, during and after undertaking any quality improvement projects. Copyright © 2003 John Wiley & Sons, Ltd. [source] Responses of weaned lambs to fear-eliciting situations: Origin of individual differencesDEVELOPMENTAL PSYCHOBIOLOGY, Issue 2 2003Manon Viérin Abstract The aims of this study were 1) to develop methods of objectively measuring fear in weaned lambs, and 2) to evaluate the effects of age, sex, breed, and rearing conditions on fear reactions. Four hundred forty-one lambs, aged 3 to 6 months, were submitted to three fear-eliciting situations (isolation, surprise effect, and human presence). Factor analysis revealed a first factor, interpreted in terms of fear, that accounted for 40% of total variance in the three tests. As in adult sheep, the main signs of fear were inhibition of feeding, long distance from the frightening stimulus, frequent immobilizations, and numerous high-pitch bleats. Behavior was also influenced by differences in general locomotor activity and exploratory motivation. Fear reactions were influenced by age (3- to 4-month-old lambs more fearful than 5- to 6-month-old), sex (females more fearful than males), breed (Romanov more fearful than Ile-de-France), and rearing conditions (artificial vs. maternal: almost no influence in males and influence in females depending on age). These results with sheep provide interesting theoretical and practical perspectives to the study of fearfulness. © 2003 Wiley Periodicals, Inc. Dev Psychobiol 42: 131,147, 2003 [source] An introduction to coil array design for parallel MRINMR IN BIOMEDICINE, Issue 3 2006Michael A. Ohliger Abstract The basic principles of radiofrequency coil array design for parallel MRI are described from both theoretical and practical perspectives. Because parallel MRI techniques rely on coil array sensitivities to provide spatial information about the sample, a careful choice of array design is essential. The concepts of coil array spatial encoding are first discussed from four qualitative perspectives. These qualitative descriptions include using coil arrays to emulate spatial harmonics, choosing coils with selective sensitivities to aliased pixels, using coil sensitivities with broad k -space reception profiles, and relying on detector coils to provide a set of generalized projections of the sample. This qualitative discussion is followed by a quantitative analysis of coil arrays, which is discussed in terms of the baseline SNR of the received images as well as the noise amplifications (g -factor) in the reconstructed data. The complications encountered during the experimental evaluation of coil array SNR are discussed, and solutions are proposed. A series of specific array designs are reviewed, with an emphasis on the general design considerations that motivate each approach. Finally, a set of special topics is discussed, which reflect issues that have become important, especially as arrays are being designed for more high-performance applications of parallel MRI. These topics include concerns about the depth penetration of arrays composed of small elements, the use of adaptive arrays for systems with limited receiver channels, the management of inductive coupling between array elements, and special considerations required at high field strengths. The fundamental limits of spatial encoding using coil arrays are discussed, with a primary emphasis on how the determination of these limits impacts the design of optimized arrays. This review is intended to provide insight into how arrays are currently used for parallel MRI and to place into context the new innovations that are to come. Copyright © 2006 John Wiley & Sons, Ltd. [source] | ||||||||||||||||