U-shaped Relationship (u-shaped + relationship)

Distribution by Scientific Domains
Distribution within Business, Economics, Finance and Accounting

Kinds of U-shaped Relationship

  • inverted u-shaped relationship

  • Selected Abstracts


    ECONOMICS & POLITICS, Issue 1 2009
    We investigate the relationship between corruption and political stability, from both theoretical and empirical perspectives. We propose a model of incumbent behavior that features the interplay of two effects: a horizon effect, whereby greater instability leads the incumbent to embezzle more during his short window of opportunity, and a demand effect, by which the private sector is more willing to bribe stable incumbents. The horizon effect dominates at low levels of stability, because firms are unwilling to pay high bribes and unstable incumbents have strong incentives to embezzle, whereas the demand effect gains salience in more stable regimes. Together, these two effects generate a non-monotonic, U-shaped relationship between total corruption and stability. On the empirical side, we find a robust U-shaped pattern between country indices of corruption perception and various measures of incumbent stability, including historically observed average tenures of chief executives and governing parties: regimes that are very stable or very unstable display higher levels of corruption when compared with those in an intermediate range of stability. These results suggest that minimizing corruption may require an electoral system that features some re-election incentives, but with an eventual term limit. [source]

    Bidirectional synaptic plasticity as a consequence of interdependent Ca2+ -controlled phosphorylation and dephosphorylation pathways

    Pablo D'Alcantara
    Abstract Postsynaptic Ca2+ signals of different amplitudes and durations are able to induce either long-lasting potentiation (LPT) or depression (LTD). The bidirectional character of synaptic plasticity may result at least in part from an increased or decreased responsiveness of the glutamatergic ,-amino-3-hydroxy-5-methylisoxazole-4-propionic acid receptor (AMPA-R) due to the modification of conductance and/or channel number, and controlled by the balance between the activities of phosphorylation and dephosphorylation pathways. AMPA-R depression can be induced by a long-lived Ca2+ signal of moderate amplitude favouring the activation of the dephosphorylation pathway, whereas a shorter but higher Ca2+ signal would induce AMPA-R potentiation resulting from the preferential activation of the phosphorylation pathway. Within the framework of a model involving calcium/calmodulin-dependent protein kinase II (CaMKII), calcineurin (PP2B) and type 1 protein phosphatase (PP1), we aimed at delineating the conditions allowing a biphasic U-shaped relationship between AMPA-R and Ca2+ signal amplitude, and thus bidirectional plasticity. Our theoretical analysis shows that such a property may be observed if the phosphorylation pathway: (i) displays higher cooperativity in its Ca2+ -dependence than the dephosphorylation pathway; (ii) displays a basal Ca2+ -independent activity; or (iii) is directly inhibited by the dephosphorylation pathway. Because the experimentally observed inactivation of CaMKII by PP1 accounts for this latter characteristic, we aimed at verifying whether a realistic model using reported parameters values can simulate the induction of either LTP or LTD, depending on the time and amplitude characteristics of the Ca2+ signal. Our simulations demonstrate that the experimentally observed bidirectional nature of Ca2+ -dependent synaptic plasticity could be the consequence of the PP1-mediated inactivation of CaMKII. [source]

    Arbitrage, Liquidity, and the Valuation of Exchange Traded Funds

    Lucy F. Ackert
    This paper investigates the performance of U.S. and country exchange traded funds currently traded in the United States and provides new insight into their pricing. While the U.S. funds are priced closely to their net asset values, the country funds are not and can exhibit large, positive autocorrelations in fund premium. The mispricing of country funds is related to momentum, illiquidity, and size effects. We also find an inverted U-shaped relationship between fund premium and market liquidity, which suggests that more active trading does lead to lower mispricing but only after a certain level of liquidity is reached. [source]

    Chronic effects of low to moderate alcohol consumption on structural and functional properties of the brain: beneficial or not?,

    Marinus N. Verbaten
    Abstract Objective Some studies suggest that the effects of low to moderate drinking (about 1,3 standard glasses of alcohol per day) on the brain and cognitive performance are positive. In the present study this hypothesis is investigated. Methods For this purpose studies on the effects of low to moderate drinking on brain structure (Magnetic Resonance Induction (MRI) studies) and on cognitive performance were analysed and discussed Results In MRI studies, a linear negative effect of alcohol consumption on brain volume was found. Furthermore, a linear decrease in grey matter concurring with a linear increase in white matter volumes as a function of number of drinks was reported in males, but not in females. Only in elderly low to moderate drinkers (aged,>,65 years) there appeared to be an U-shaped relationship between alcohol consumption and white matter integrity (grade) on the one hand and cognition on the other hand. Conclusions The changes reported in brain shrinkage, grey matter and white matter volume, as a result of low to moderate alcohol consumption sooner offer support for the contention that such drinking decreases brain health than for its beneficial effect. An exception might hold for elderly light and moderate drinkers where less white matter damage was found than in abstainers concurring with better cognitive performance. However, methodological problems impose limits on this conclusion. Copyright 2009 John Wiley & Sons, Ltd. [source]

    Early life risk factors in cancer: The relation of birth weight to adult obesity

    Nicole M. Leong
    Abstract The intrauterine environment appears to play a role in the development of adult diseases, including several prominent cancers. Our study aims to characterize the relationship between birth weight, a measure of the intrauterine environment, and adult obesity. A population-based sample of women aged 50,79, living in the states of Massachusetts, New Hampshire or Wisconsin, were randomly selected from lists of licensed drivers and Medicare beneficiaries to participate as controls in a case-control study of breast cancer. Information on birth weight, adult height and adult weight were collected through structured telephone interviews from 1992,1995. Our analysis was based on 1,850 interviews. A U-shaped relationship between birth weight and adult BMI was observed. Median adult BMI for the birth weight categories (in kilograms) <2.3, 2.3<2.5, 2.5<3.2, 3.2<3.9, 3.9<4.5 and ,4.5 were 26.6, 24.4, 25.1, 25.5, 25.4 and 26.6 kg/m respectively. Compared to women 2.5<3.2 kg at birth, women in highest birth weight category (,4.5 kg) had an odds ratio of 1.99 (95% CI 1.13,3.48) of being obese (,30 kg/m2) as adults. The odds ratio for women in the <2.3 kg birth weight category was 1.67 (95% CI 1.01,2.76). These data suggest that both low and high birth weights are associated with higher adult BMI and support the hypothesis that fetal experience may influence adult obesity with potential consequences for risk of several major cancers. 2002 Wiley-Liss, Inc. [source]

    Glycated Hemoglobin Levels and Intellectual Activity in an Aged Population

    Hidenori Amano MHSc
    Objectives: To examine the association between glycated hemoglobin (GHb) and aspects of daily activities in an elderly population. Design: Cross-sectional population-based survey. Setting: Nangai village, an agricultural community with a population of about 5,000 located in Akita prefecture in the north of Japan. Participants: Nine hundred thirty-five people aged 65 and older. Measurements: GHb percentages, self-reported measures of activities of daily living (ADLs) and instrumental activities of daily living (IADLs), intellectual activity (IA), and social role (SR). Results: An exploratory analysis indicated that nondiabetic subjects in the lowest tertile of GHb tend to have lower IA than those in the middle tertile, if they were aged 70 and older. No consistent association appeared between GHb and ADLs, IADLs, or SR. Linear and logistic regression analyses, controlling for other risk factors, indicated significantly lower IA scores in the low and high GHb tertiles (P<.001 and P=.04, respectively) than in the middle in nondiabetic subjects aged 70 and older and without stroke history or IADL impairments. The value of GHb related to the maximal IA score was 5.0% to 5.2% as the middle tertile; or 5.2%, assuming a logistic regression model including a squared term with GHb as a continuous variable. A similar relationship was observed in the whole nondiabetic sample aged 70 and older but not in the younger counterpart. Conclusion: There is an inverted U-shaped relationship between GHb and intellectual activity in older people without diabetes mellitus. One possible interpretation is that suboptimal blood glucose could contribute to intellectual inactivity in older people. [source]

    Prospective Association Between Low and High Total and Low-Density Lipoprotein Cholesterol and Coronary Heart Disease in Elderly Men

    J. David Curb MD
    Objectives: To examine the relationship between total cholesterol (TC) and low-density lipoprotein cholesterol (LDL-C) and the incidence of coronary heart disease (CHD) in elderly men. Design: Prospective. Setting: Population based. Participants: A sample of 2,424, Japanese-American men aged 71 to 93 was used. Measurements: Six years of data on incident fatal plus nonfatal CHD were examined. Results: Analysis revealed a significant U-shaped relationship between age-adjusted CHD rates and both TC and LDL-C. The ranges of TC and LDL-C with the lowest risk of CHD were 200 to 219 mg/dL and 120 to 139 mg/dL, respectively. As cholesterol concentrations declined and increased beyond these ranges, the risk of CHD increased. These U-shaped relationships remained significant after adjusting for age and other risk factors. Conclusion: The U-shaped associations between TC and LDL-C and CHD imply a complex relationship between lipids and CHD in late life. The results indicate that elevated lipid levels should continue to be treated in healthy elderly individuals, as they are in those who are younger, although pharmacologically lowering lipids to excessively low levels in the elderly may warrant further study, as does the contribution of subclinical frailty to the relationship of lipids to CHD risk. [source]

    Top Management Teams in Family-Controlled Companies: ,Familiness', ,Faultlines', and Their Impact on Financial Performance

    Alessandro Minichilli
    abstract This article examines the affect of family management on performance of the company. We examine how familiness can provide further insights beyond the classical demographic measures of top management teams (TMTs) in explaining variations in firms' financial performance. We combine arguments on the ,bright' and ,dark' side of family involvement in the firm; we complement positive predictions on family involvement with negative predictions and develop family firm-specific measures of TMTs' familiness. Results indicate that while the presence of a family CEO is beneficial for firm performance, the coexistence of ,factions' in family and non-family managers within the TMT has the potential to create schisms among the subgroups and consequently hurt firm performance. We find support for a hypothesized U-shaped relationship between the ratio of family members in the TMT and firm performance. Additional evidence related to interactions between firm listing and CEO type on firm performance is then presented and discussed. [source]

    The role of relationships in understanding telecommuter satisfaction

    Timothy D. Golden
    Relationships are fundamental to organizational functioning, yet as telecommuting and other forms of virtual work become increasingly popular, research has not yet focused on how the virtual context might alter relationships so as to impact important work outcomes. This study therefore examines the role relationships play in mediating the link between the extent of telecommuting and job satisfaction. In doing so three fundamental types of relationships maintained by employees are investigated,those with managers, coworkers, and family. Regression analysis of field data from 294 telecommuting employees in a large telecommunications company revealed the anticipated inverted U-shaped relationship, mediated by leader-member exchange quality, team-member exchange quality, and work-family conflict. Copyright 2006 John Wiley & Sons, Ltd. [source]

    Alcohol and Atherosclerotic Vascular Disease Risk Factors in French Men: Relationships Are Linear, J-Shaped, and U-Shaped

    ALCOHOLISM, Issue 1 2005
    Philippe Rouillier
    Background: Although it is well admitted that alcohol displays a U-shaped relationship with atherosclerotic vascular disease, individual relationships between alcohol and atherosclerosis risk factors may be different and have not been determined precisely for several of them. Methods: A cross-sectional study within the SU.VI.MAX French cohort study was performed to assess the curve of potential relationships between alcohol and atherosclerosis risk factors in 2126 healthy men. Mean daily alcohol intake was derived from 37 alcoholic beverages in twelve 24-hr dietary recalls. Logistic models were adjusted for age. Results: Apolipoprotein B (ApoB), fasting glucose, body mass index, waist-to-hip ratio, and waist circumference displayed a linear relationship with alcohol. The odds ratios and 95% confidence intervals associated with abnormal values of the markers for the highest quintile of alcohol intake were 1.45 (1.06,1.97) for ApoB, 1.98 (1.40,2.80) for fasting glucose, and 1.74 (1.30,2.34) for body mass index. An inverse J-shaped relationship was assumed for ApoA1 and ApoB/ApoA1 ratio, whereas a U-shaped relationship was observed for serum triglycerides and mixed hyperlipidemia. Only the highest quintile of alcohol was associated with hypertension, although the test for linearity was also significant. No association was observed for Lp(a) or homocysteine. Associations were unmodified by further adjustment for carbohydrates, fiber, lipids, tobacco, or exercise. Conclusions: The aggregate of the disparate alcohol risk factor relationships suggests probable net benefit at 15 to 25 g of alcohol/day. [source]

    The Size and Composition of Government Spending in Europe and Its Impact on Well-Being

    Zohal Hessami
    SUMMARY This paper empirically analyzes whether large governments in Europe reflect efficient responses to a changing social and economic environment (,welfare economic view') as opposed to wasteful spending (,public choice view'). To this end, the effect of government size on subjective well-being is estimated in a combined survey and country-level dataset covering 153,268 respondents from twelve EU countries over the 1990,2000 period. The first finding is an inversely U-shaped relationship between government size and well-being. In addition, the analysis suggests that given the high institutional quality as compared to other parts of the world there might be scope for a further enlargement of governments in the EU from a well-being perspective. However, one must acknowledge that the effect on well-being may be quite small and that democratic societies in Europe have no experience with even larger governments. The investigation also reveals that the impact of government size on well-being depends negatively on levels of corruption and positively on the extent of decentralization. Moreover, left-wing voters and low-income earners are the main beneficiaries of a large public sector. Finally, in all twelve EU countries included in the sample higher levels of well-being could have been achieved by allocating a higher share of public resources to education, while Finland and Germany could have given an additional boost to well-being by cutting expenditures on social protection. [source]

    Principal,Principal Conflict in the Governance of the Chinese Public Corporation

    Yiyi Su
    abstract By examining the level of ownership concentration across firms, we determine how principal,principal conflict, defined as the incongruence of ownership goals among shareholder groups in a corporation, impacts agency costs of Chinese boards of directors. Based on data from Chinese companies listed on the Shanghai and Shenzhen stock exchanges during 1999,2003, we found that ownership concentration had a U-shaped relationship with board compensation, board size and the presence of independent directors. These results provide corroborating evidence that principal,principal conflict can lead to high agency costs. [source]

    Export orientation and technical efficiency: clothing firms in China

    Vincent Mok
    Based on 287 of the largest clothing manufacturing firms in southern China in terms of output value, we employed data envelopment analysis to estimate the technical efficiency of the sample firms. A regression analysis was conducted to examine the effects of export orientation on technical efficiency. Our results suggest a U-shaped relationship between export ratio and technical efficiency. The specific nature of the industry in Guangdong province can explain that clothing firms with a high degree of sales in the domestic market or with a high level of export orientation experience a higher level of technical efficiency than those firms trying to conquer both the local and the overseas markets. Copyright 2010 John Wiley & Sons, Ltd. [source]

    Insider ownership and firm performance in Taiwan's electronics industry: a technical efficiency perspective

    Her-Jiun Sheu
    This paper applies agency theory to explore the relationship between insider stock ownership and firm performance, particularly in terms of technical efficiency. Insiders are further classified into executives, outside directors, and large shareholders to conduct a detailed study. Six-year (1996,2001) panel data of 416 Taiwanese listed electronics firms are examined by the stochastic production frontier approach. It is observed that raising the executive-to-insider holding ratio first causes a decrease and then an increase in technical efficiency, forming a U-shaped relationship. However, the board-to-insider holding ratio is negatively associated with technical efficiency. The results indicate that equity ownership of top officers in high-tech firms should be encouraged to enhance firm productivity. Copyright 2005 John Wiley & Sons, Ltd. [source]

    Educational homogamy in Ireland and Britain: trends and patterns*

    Brendan Halpin
    ABSTRACT This paper examines the pattern of educational homogamy in Ireland and Britain. Using contemporary data on recent marriages from the early 1970s through to the mid-1990s, we show that these two countries share a broadly similar pattern of educational homogamy, which is quasi-symmetric in character, with no tendency for women to marry up over and above that which can be attributed to the gender difference in educational attainment. In the 1970s, the strength of homogamy was much weaker in Ireland than in Britain. But we discern a clear inter-country difference in how the net strength of homogamy has changed over time. While it has declined in Britain since the 1970s, in Ireland the strength of homogamy has first increased and then levelled off. Our findings are inconsistent with the inverted U-shaped relationship between economic development and homogamy reported by Smits, Ultee and Lammers (1998) , an argument premised on secular change in the criteria of spouse selection. Instead, our results are better understood in terms of Mare's (1991) life course argument that homogamy is inversely related to the time-gap between school departure and first marriage. [source]

    The Role of Champions in the External Commercialization of Knowledge,

    Ulrich Lichtenthaler
    Besides applying knowledge in their own products or services, firms may externally commercialize their knowledge assets (e.g., by means of outlicensing). The literature on champions, however, has focused on internal innovation. This gap in prior research is particularly remarkable as the potential for promoting external knowledge exploitation is high. Some pioneering firms realize great benefits, whereas most others experience major managerial difficulties. This paper tests five hypotheses regarding the emergence and impact of champions of external knowledge exploitation with data from 152 firms across industries. The results of the questionnaire-based study demonstrate the relevance of champions of external knowledge exploitation. Championing constitutes an essential success factor and has strongly contributed to the recent increase in external knowledge commercialization. These findings help to explain the discrepancies between the few successful and the majority of unsuccessful firms. Beyond existing insights, the emergence of champions is affected by external determinants in addition to internal determinants. There is an inverted U-shaped relationship between championing and the internal determinants, that is, organizational climate and active strategy. Moreover, there is a negative relationship between championing and market imperfection and an inverted U-shaped relationship between championing and competitive intensity, which both constitute external determinants of championing. In contrast to the traditional understanding, champions tend to emerge in supportive environments, in which internal and external barriers are relatively low. This surprising finding calls for rethinking the role and motivation of champions. [source]

    The Impact of Product Innovativeness on the Link between Development Speed and New Product Profitability,

    Fred Langerak
    A review of the literature reveals that the relationship between development speed and new product profitability is not as strong and straightforward as conventional wisdom suggests. A number of studies show positive results, others show mixed results, and some present no evidence of a relationship. In other words, the valence of the link between development speed and new product profitability is unclear at this time. Therefore, this study investigates whether or not speeding new products to market has positive or negative effects on new product profitability. Prior research shows that product innovativeness influences both development speed and new product profitability. This raises the question of whether increasing speed is equally successful in improving profitability across new products that differ in their degree of innovativeness. Therefore, this study also investigates the moderating effect of product innovativeness on the relationship between development speed and new product profitability. The results from a survey-based study of 233 manufacturers of industrial products in the Netherlands reveal an inverted U-shaped relationship between development speed and new product profitability. The findings also show that the optimal point is different for two new product types,product improvements and line additions,that vary in their innovativeness. These results provide an onset for the development of a decision tool that helps managers to determine how much to spend on accelerating the development of individual new products and how they should allocate that spending across products in their new product portfolio. [source]

    The Contingent Value of Responsive and Proactive Market Orientations for New Product Program Performance,

    Kwaku Atuahene-Gima
    While the benefits of being market oriented are largely accepted, a group of scholars and managers remain skeptical. Marketing scholars have sought to counter the criticisms leveled against market orientation (MO) by arguing that it has both responsive and proactive dimensions. However, few studies have empirically examined the complexity of the effects of these dimensions on firm performance. Drawing on theories of resource-based advantage and organizational search behavior, this article advances understanding by arguing that responsive and proactive market orientations have curvilinear effects on product development performance, that their interaction may be positively related to product development performance, and that their effects on new product program performance are moderated differentially by the organizational implementation conditions and marketing function power. Survey results of 175 U.S. firms indicate support for most of the hypotheses. Specifically, whereas responsive MO has a U-shaped relationship with new product program performance, proactive MO has an inverted U-shaped relationship with new product program performance. Contrary to the arguments presented here, the interaction of both orientations is negatively related to new product program performance. This study finds that both orientations are needed; however, new product program performance is enhanced when one is at higher level and the other is at lower level. Finally, responsive MO is only positively related to new product program performance under specific conditions such as when strategic consensus among managers is high. On the other hand, the positive effect of proactive MO on new product program performance is further strengthened when learning orientation and marketing power are high. Overall, this study suggests that the effects of responsive and proactive MO on new product program performance are more complex than previously theoretically argued and empirically examined. [source]


    Francesca Gagliardi
    ABSTRACT,:,This paper investigates whether local differences in banking competition impact on the creation and activity of firms, with a special focus on cooperatives. The empirical analysis, implemented on a sample of Italian firms, reveals non-monotonic effects of bank market power on firm creation and activity. In regard to the former, a bell-shaped relationship is found for both cooperative and non-cooperative firms, suggesting that a moderately concentrated banking market favours firms' creation. A less homogeneous pattern characterizes firms' activity: a bell-shaped parabola is still found for non-cooperative firms, while a U-shaped relationship emerges for cooperatives, showing that active coops benefit from relatively more intense banking competition. [source]

    Organizational-Level Gender Dissimilarity and Employee Commitment

    Hyun-Jung Lee
    This study explores the extent to which gender dissimilarity in the workplace affects employees' commitment to their organization, using data from the British (1998) Workplace Employee Relations Survey. The results showed that the effects of organizational-level gender dissimilarity on organizational commitment were more complex than has commonly been assumed in the literature. The relationship between organizational-level gender dissimilarity and employee commitment was U-shaped for women whereas it was not significant for men. The relationship was moderated by the respondents' status as measured by their level of pay. For men, the relationship between gender dissimilarity and commitment was negative for high-paid individuals but not for low-paid ones, while for women the U-shaped relationship was weaker for high-paid individuals than for low-paid individuals. [source]

    International Diversification, Business Group Affiliation and Firm Performance: Empirical Evidence from India,

    Ajai S. Gaur
    We investigate the impact of business group affiliation on the relationship between international diversification and firm performance for emerging economy firms. We develop the theoretical arguments based on an integration of the literature on international diversification with the institutional theory perspective. We argue for a U-shaped relationship between international diversification and firm performance, and suggest that a firm's affiliation to a business group moderates the relationship between international diversification and firm performance. Based on a sample of Indian firms, we find that firm performance is positively related to the degree of internationalization, while business group affiliation reduces the positive effect of internationalization on firm performance. [source]


    Lawrence Beilin
    SUMMARY 1Longitudinal studies from the US, Australia and Europe have demonstrated tracking of childhood risk factors for cardiovascular disease from adolescence into adult life. These factors include obesity, blood cholesterol levels, blood pressure and measures of insulin resistance. Worldwide increases in childhood obesity and overweight are already resulting in increases in adolescent diabetes and are likely to translate into earlier onset hypertension and cardiovascular disease in adults. 2Low birth weight has also been associated with increased risk of adult cardiovascular disease, diabetes and high blood pressure, but there is considerable debate as to the relative importance of pre- and postnatal influences. 3These issues are discussed in the context of results of a longitudinal cohort study of cardiovascular and metabolic risk factors in Western Australia, the ,Raine' childhood cohort, which showed that in a well-nourished Australian population at age 8 there was a U-shaped relationship between birth weight and a cluster of factors predisposing to adult cardiovascular disease, with postnatal weight gain being the dominant factor. 4Future public health programmes should focus on both pre- and early postnatal factors predisposing to obesity, hypertension and diabetes. [source]

    Osmoregulatory changes in wedge sole (Dicologoglossa cuneata Moreau, 1881) after acclimation to different environmental salinities

    Marcelino Herrera
    Abstract The osmoregulatory responses of 20 days of acclimation to environmental salinities of 5,, 15,, 25,, 35, and 55, were assessed in juveniles of wedge sole (Dicologoglossa cuneata Moreau, 1881). This sole shows a good capacity to adapt to this range of environmental salinities. A direct linear relationship between environmental salinity and plasma osmolality was observed, with a calculated isosmotic point of 10.4, (284 mOsm kg,1). Na+, K+ -ATPase activity in the gills followed a ,U-shaped' relationship with environmental salinity, and a direct linear relationship in kidney tissue. Plasma cortisol levels were elevated in fish held in extreme salinities, and glucose levels were higher only in the group maintained at the highest environmental salinity. In the liver, a decrease in glycogen, lactate and amino acid contents was observed in specimens acclimated to extreme salinities (5, and 55,), suggesting mobilization of liver metabolites. Metabolite levels in white muscle showed a pattern similar to the liver, with lower values in specimens acclimated to extreme salinities. We conclude that wedge sole is strongly euryhaline, but acclimation to extreme salinities comes with an energetic cost. [source]