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I Find (i + find)
Terms modified by I Find Selected Abstracts,Where Shall I Find a White Rose . . . ?': an end-of-life narrativeEUROPEAN JOURNAL OF CANCER CARE, Issue 2 2010A. JONES rmn, adult psychotherapist, phd cpn cert ., post grad dip psychotherapy No abstract is available for this article. [source] Who Cares about Auditor Reputation?,CONTEMPORARY ACCOUNTING RESEARCH, Issue 3 2005JAN BARTON Abstract I provide evidence on the demand for auditor reputation by examining the defections of Arthur Andersen LLP's clients following the accounting scandals and criminal conviction marring the auditor's reputation in 2002. About 95 percent of clients in my sample did not switch auditors until after Andersen was indicted for criminal misconduct regarding its failed audit of Enron Corp. I test whether the timing of client defections and the choice of a new auditor are consistent with managers' incentives to mitigate potentially costly information and agency problems. I find that clients defected sooner, mostly to another Big 5 auditor, if they were more visible in the capital markets; such clients attracted more analysts and press coverage, had larger institutional ownership and share turnover, and raised more cash in recent security issues. However, my proxies for agency conflicts , managerial ownership and financial leverage , are not associated with the timing of defections or the choice of new auditor. Overall, my study suggests that firms more visible in the capital markets tend to be more concerned about engaging highly reputable auditors, consistent with such firms trying to build and preserve their own reputations for credible financial reporting. [source] Accounting Policy Disclosures and Analysts' ForecastsCONTEMPORARY ACCOUNTING RESEARCH, Issue 2 2003Ole-Kristian Hope Abstract Using an international sample, I investigate whether the extent of firms' disclosure of their accounting policies in the annual report is associated with properties of analysts' earnings forecasts. Controlling for firm- and country-level variables, I find that the level of accounting policy disclosure is significantly negatively related to forecast dispersion and forecast error. In particular, I find that accounting policy disclosures are incrementally useful to analysts over and above all other annual report disclosures. These findings suggest that accounting policy disclosures reduce uncertainty about forecasted earnings. I find univariate but not multivariate support for the hypothesis that accounting policy disclosures are especially helpful to analysts in environments where firms can choose among a larger set of accounting methods. [source] THE ROLE OF PUBLIC SOCIAL CONTROL IN URBAN NEIGHBORHOODS: A MULTILEVEL ANALYSIS OF VICTIMIZATION RISK,CRIMINOLOGY, Issue 4 2001MARÍA B. VÉLEZ This study introduces public social control into multilevel victimization research by investigating its impact on household and personal victimization risk for residents across 60 urban neighborhoods. Public social control refers to the ability of neighborhoods to secure external resources necessary for the reduction of crime and victimization. I find that living in neighborhoods with high levels of public social control reduces an individual's likelihood of victimization, especially in disadvantaged neighborhoods. Given the important role that residents of disadvantaged neighborhoods can play in securing public social control, this contingent finding suggests that disadvantaged neighborhoods can be politically viable contexts. [source] EXTENDING SOCIAL DISORGANIZATION THEORY: A MULTILEVEL APPROACH TO THE STUDY OF VIOLENCE AMONG PERSONS WITH MENTAL ILLNESSES,CRIMINOLOGY, Issue 4 2000ERIC SILVER Prior studies of violence among individuals with mental illnesses have focused almost exclusively on individual-level characteristics. In this study, I examine whether the structural correlates of neighborhood social disorganization also explain variation in violence. I use data on 270 psychiatric patients who were treated and discharged from an acute inpatient facility combined with tract-level data from the 1990 U.S. Census. I find that living in a socially disorganized neighborhood increased the probability of violence among the sample, an effect that was not mediated by self-reported social supports. Implications for future research in the areas of violence and mental illness are discussed. [source] Long-Term Debt and Optimal Policy in the Fiscal Theory of the Price LevelECONOMETRICA, Issue 1 2001John H. Cochrane The fiscal theory says that the price level is determined by the ratio of nominal debt to the present value of real primary surpluses. I analyze long-term debt and optimal policy in the fiscal theory. I find that the maturity structure of the debt matters. For example, it determines whether news of future deficits implies current inflation or future inflation. When long-term debt is present, the government can trade current inflation for future inflation by debt operations; this tradeoff is not present if the government rolls over short-term debt. The maturity structure of outstanding debt acts as a "budget constraint" determining which periods' price levels the government can affect by debt variation alone. In addition, debt policy,the expected pattern of future state-contingent debt sales, repurchases and redemptions,matters crucially for the effects of a debt operation. I solve for optimal debt policies to minimize the variance of inflation. I find cases in which long-term debt helps to stabilize inflation. I also find that the optimal policy produces time series that are similar to U.S. surplus and debt time series. To understand the data, I must assume that debt policy offsets the inflationary impact of cyclical surplus shocks, rather than causing price level disturbances by policy-induced shocks. Shifting the objective from price level variance to inflation variance, the optimal policy produces much less volatile inflation at the cost of a unit root in the price level; this is consistent with the stabilization of U.S. inflation after the gold standard was abandoned. [source] Cultivating Beyond-Capitalist EconomiesECONOMIC GEOGRAPHY, Issue 3 2010Sarah Wright abstract Conceptualizations of the economy as diverse and multiple have garnered increased attention in economic geography in recent years. Against the debilitating mantra of TINA (there is no alternative), these conceptualizations use an ontology of proliferation to insist that many viable and vital alternatives to capitalism do, in fact, exist. I aim to contribute to this project with a close reading of the diverse formal and informal economic practices associated with the village of Puno in the Philippines. In doing so, I respond to calls for work that begins in the majority world and that focuses on the broader political project associated with diverse economies. Research in this area has frequently been critiqued for not paying sufficient attention to the unstable yet persistent exclusions that may endure in, and may even be enhanced by, alternative economies. With this article, I aim to investigate the ways that power relations work through the diverse economies of Puno and the ways that residents act to transform these relations. In doing so, I draw on the experiences of three residents of Puno and their involvement in three social movement organizations. I find that the economy is usefully understood as a site of struggle in which residents work to redefine themselves and the economy. The diverse spaces of their economic lives are neither strictly alternative nor mainstream, inherently oppressive nor radical. Rather, the people of Puno are engaged in willfully cultivating spaces-beyond-capitalism through which they transform the very meaning of economic practice. [source] WHY CHINA INDUSTRIALIZED AFTER ENGLANDECONOMIC INQUIRY, Issue 4 2010BARRY S. KAHN Although industrialization first occurred in England, it is thought that China, not England, may have been the world leader in technology at the time. Yet, China did not industrialize until 150 yr after England and nearly a century after less advanced European countries. This represents a puzzle because two-sector neoclassical growth models, such as Hansen and Prescott (2002), that accurately match industrialization, require that more technologically advanced countries industrialize at an earlier date. I find that a model that accounts for cross-country heterogeneities in population density accurately predicts the timing of industrialization in China. (JEL F43, N10, N30, O11, O14, O41) [source] Firm outsourcing decisions: evidence from U.S. foreign trade zonesECONOMIC INQUIRY, Issue 2 2000DL Swenson This article examines the operations of firms located in U.S. foreign trade subzones to study the responsiveness of outsourcing to international cost changes. I find that firms reduce their reliance on foreign inputs when dollar depreciation increases the relative price of imported inputs. The effect is pervasive across industries and is economically significant. In addition, firms that rely more heavily on imported intermediate inputs reduce their overall shipments when dollar depreciation elevates their imported, input costs. However, the magnitude of the shipments effect is economically small, suggesting that firms respond to exchange rate movements by adjusting their operations on other dimensions. [source] Who Withdraws Housing Equity and Why?ECONOMICA, Issue 301 2009ANDREW BENITO The decision to extract home equity is examined using household-level data for the UK over 1993,2003. At its peak during the period, around 1-in-10 homeowners withdraw equity per year. Little is known about this financial decision. I find that the equity withdrawal decision conforms to predictions from the standard life-cycle framework and models that predict its use as a financial buffer. The paper also estimates responses to the large house price appreciation and significant reductions in mortgage rates seen during the period. [source] Austria's Demand for International Reserves and Monetary Disequilibrium: The Case of a Small Open Economy with a Fixed Exchange Rate RegimeECONOMICA, Issue 281 2004Harald Badinger Using a vector error correction approach, I estimate Austria's demand for international reserves over the period 1985:1,1997:4 and test for short-run effects of the disequilibrium on the national monetary market. I find that Austria's long-run reserve demand can be described as a stable function of imports, uncertainty and the opportunity cost of holding reserves with strong economies of scale. The speed of adjustment takes a value of 38 per cent. The results confirm that an excess of money demand (supply) induces an inflow (outflow) of international reserves as postulated by the monetary approach to the balance of payments. [source] Firing Costs, Employment Fluctuations and Average Employment: An Examination of GermanyECONOMICA, Issue 266 2000Jennifer Hunt West Germany's Employment Promotion Act of 1985 facilitated the use of fixed-term contracts and increased the number of dismissals above which the employer is required to establish a ,social plan' (involving severance payments). I assess the effect of this reduction in ,firing costs' on movements in employment, using monthly data on a panel of detailed manufacturing industries for 1977-92. I also examine the effect of introducing flexible hours of work in certain industries beginning in 1985. I find that employment adjustment was unaffected by the lower firing costs, but slowed by the greater working hours flexibility. [source] ESTIMATING INCUMBENCY EFFECTS IN U.S. STATE LEGISLATURES: A QUASI-EXPERIMENTAL STUDYECONOMICS & POLITICS, Issue 2 2010YOGESH UPPAL This paper estimates the incumbency effects in elections to the House of Representatives of 45 states in the United States using a quasi-experimental research method, regression discontinuity design (RDD). This design isolates the causal effect of incumbency from other contemporaneous factors, such as candidate quality, by comparing incumbents and non-incumbents in close contests. I find that incumbents in state legislative elections have a significant advantage, and this advantage serves as a strong barrier to re-entry of challengers who had previously been defeated. However, the incumbency advantage estimated using the RDD is much smaller than are the estimates using existing methods, implying a significant selection bias in the latter. [source] Transformative Teaching: Restoring the teacher, under erasureEDUCATIONAL PHILOSOPHY AND THEORY, Issue 2 2009Jenny Steinnes Abstract In the large and complex landscape of pedagogy, the focus seems to have turned away from the concept of teaching and towards a stronger emphasis on learning, probably supported by neo-liberal ideology. The teacher is presented more as part of the force of production than as an autonomous performer of a mandate given to him/her by society. He/she is supposed to supply knowledge that is considered useful to a society geared to production and consumption. During the past few decades, enlightenment as a legitimising concept for education has been challenged from different angles, both by a self-critique from within and from external forces. One angle of approach is the questioning of the relationship between the state and education, by way of a critique of modernity. Another approach comes from a critique of knowledge, which has lost most of its universal implications and is left with more pragmatic and utilitarian considerations. Into this landscape of lost legitimisation, I will make an attempt to visualise an impossible/possible position for teaching, featuring ancient, contemporary and phantom-like figures. I am suggesting the concept of transformation as an alternative to development or improvement, which I find to be concepts with a close link to modernity and its linearity. By a careful and conscious use of the word transformation, taking Derrida's intensified focus of language into account, a possible active position might be intimated in spite of the fundamental critique, which has been directed at pedagogy and its imperialistic implications from different angles. [source] Remembering What One Knows and the Construction of the Past: A Comparison of Cultural Consensus Theory and Cultural Schema TheoryETHOS, Issue 3 2000Professor Linda C. Garro Cultural consensus theory and cultural models theory present distinct perspectives about the nature of individual and cultural knowledge. Anthropologists have not really explored the implications of these differences, nor have they examined these differing perspectives in situations where both are plausible alternatives. Through an analysis of patterns in how individuals diagnosed with diabetes and living in an Anishinaabe (Ojibway) community talked about diabetes and the judgments they made about the relevancy of culturally plausible illness causes, I find, for this data set at least, that cultural models theory provides a better fit. Nevertheless, cultural consensus analysis played a critical role in this determination. Some ideas about the nature of collective memory are examined in light of my findings. [source] Do Insider Trading Laws Work?EUROPEAN FINANCIAL MANAGEMENT, Issue 3 2005Arturo Bris G38; G34; G15 Abstract This paper presents the first comprehensive global study of insider trading laws and their first enforcement. In a sample of 4,541 acquisitions from 52 countries, I find that insider trading enforcement increases both the incidence, and the profitability of insider trading. The expected total insider trading gains increase. Consequently, laws that proscribe insider trading fail to eliminate insider profits. However, harsher laws work better at reducing the incidence of illegal insider trading. [source] Economic performance of ,weak' governments and their interaction with central banks and labour: Deficits, economic growth, unemployment and inflation, 1961,1998EUROPEAN JOURNAL OF POLITICAL RESEARCH, Issue 6 2005TAKAYUKI SAKAMOTO Comparative political economists have conventionally claimed that the strength and stability of governments affect policy making and performance, and that what they call ,weak governments', multiparty, minority and short-lived governments , show poorer economic performance. This article tests this and related hypotheses on deficits, economic growth, unemployment and inflation by examining data from 17 OECD countries. I find that there is generally little evidence to indicate that so-called ,weak governments', when considered independently, produce poorer performance than strong ones. However, the effects of different government types are partly contingent on central bank independence and labour organization. When central banks are independent, coalition governments exhibit better inflation and economic growth performance than one-party governments, but the opposite happens when central banks are dependent. I attempt an explanation for these relationships. I also find that independent central banks, under certain conditions, lead to lower growth and higher inflation. Thus, some of the benefits of central bank independence are context-specific, depending on other political-economic factors. [source] Liberalized capital markets, state autonomy, and European monetary unionEUROPEAN JOURNAL OF POLITICAL RESEARCH, Issue 2 2003Erik Jones The conventional wisdom is that capital market integration and now monetary union have limited the options available to macroeconomic policy makers in Europe. The question considered here, therefore, is why many prominent Europeans insist that monetary union is a rational response to capital market integration. Monetary union eliminates exchange rate volatility , but only at a cost in terms of tightening the constraints on macroeconomic policy. Using a combination of macroeconomic theory and (descriptive) statistical analysis of European performance, I find that: capital market integration has increased macroeconomic flexibility through a mitigation of the current account constraint; European states have combined macroeconomic policies in a manner that has taken advantage of greater flexibility on the current account; the cost of such flexibility in terms of the impact of financial volatility on the real economy manifests differently in different countries; and monetary union both enhances flexibility on the current account and mitigates financial volatility. [source] THE EVOLUTION OF PREMATING ISOLATION: LOCAL ADAPTATION AND NATURAL AND SEXUAL SELECTION AGAINST HYBRIDSEVOLUTION, Issue 5 2004Maria R. Servedio Abstract Although reinforcement is ostensibly driven by selection against hybrids, there are often other components in empirical cases and theoretical models of reinforcement that may contribute to premating isolation. One of these components is local adaptation of a trait used in mate choice. I use several different comparisons to assess the roles that local adaptation and selection against hybrids may play in reinforcement models. Both numerical simulations of exact recursion equations and analytical weak selection approximations are employed. I find that selection against hybrids may play a small role in driving preference evolution in a reinforcement model where the mating cue is separate from loci causing hybrid incompatibilities. When females have preferences directly for purebreds of their own population, however, selection against hybrids can play a large role in premating isolation evolution. I present some situations in which this type of selection is likely to exist. This work also illustrates shortfalls of using a weak selection approach to address questions about reinforcement. [source] Early Distal-less expression in a developing crustacean limb bud becomes restricted to setal-forming cellsEVOLUTION AND DEVELOPMENT, Issue 1 2008Terri A. Williams SUMMARY Distal-less (Dll) plays a well-known role in patterning the distal limb in arthropods. However, in some taxa, its expression even during early limb development is not always limited to the distal limb. Here, I trace the expression of Distal-less in a crustacean (Thamnocephalus platyurus) from the early limb bud to later stages of limb development, a period that includes differentiation of juvenile and adult morphology. During early development, I find two distinct types of DLL expression: one correlated with proximal distal leg patterning and the other restricted to setal-forming cells. Later in development, all the DLL expression is restricted to setal-forming cells. Based on the particular cells expressing DLL, I hypothesize an ancestral role for Dll function in the formation accessory cells of sensilla. [source] Hedging Affecting Firm Value via Financing and Investment: Evidence from Property Insurance UseFINANCIAL MANAGEMENT, Issue 3 2010Hong Zou I provide evidence about the value effects of alternative risk management by examining corporate purchase of property insurance, a commonly used pure hedge of asset-loss risks. Using an insurance data set from China, I find that there is an inverted U-shape effect of the extent of property insurance use on firm value measured by several versions of Tobin's Q. Therefore, the use of property insurance, to a certain degree, has a positive effect on firm value; however, over insurance appears detrimental to firm value. Given that the inflection points occur at relatively high levels of the observed insurance spending, insurance use appears beneficial to the majority of my sample firms. The estimated average hedging premium is about 1.5%. I demonstrate that an avenue for insurance to create value in China is that it helps firms secure valuable new debt financing and enhance investment. [source] The U.S. Share of Trading Volume in Cross-Listings: Evidence from Canadian StocksFINANCIAL REVIEW, Issue 1 2007Sanjiv Sabherwal G10; G14; G15 Abstract I analyze the firm-specific determinants of the U.S. share of trading volume for 126 U.S.-listed Canadian firms. I find that the U.S. share of volume is directly related to the mass of informed and liquidity traders in the United States relative to Canada, as proxied by relative analyst following, relative duration of listing, and the U.S. share of sales. Evidence also supports the market liquidity argument that the market with lower spreads and greater depths has greater volume. Finally, the U.S. share is directly related to the relative sensitivity of the stock's value to information in the United States. [source] Determinants of Institutional Responses to Self,Tender OffersFINANCIAL REVIEW, Issue 3 2002Judith Swisher I examine how institutional investors respond to self,tender offers for common shares. I find that institutions sell more shares in larger offers and with higher proration factors. Institutions also sell more shares when officer and director holdings are not at risk in the offers. Banks, investment advisors, and other managers respond similarly, selling more shares in larger offers. Although institutions as a group do not respond differently by offer type, insurance companies and investment advisors sell more shares in fixed,price offers. Mutual funds, which differ from other types of institutions, sell more shares for firms with greater increases in leverage. [source] Aggregate Dividend Behavior and Permanent Earnings HypothesisFINANCIAL REVIEW, Issue 1 2001Ming-Shiun Pan G35 Abstract The study examines the aggregate dividend behavior of U.S. corporations based on the permanent earnings hypothesis. Using annual data of aggregate earnings and dividends from 1871,1993, I find that although managers change dividends proportional to permanent earnings changes, they make revisions with a larger percentage change in dividends than in permanent earnings. The results from the post-war data show that firms follow a partial adjustment policy with a long-term dividend payout target in mind and make revisions with a delay. The quarterly data analysis yields results similar to those of the post-war annual data. [source] Correlation and the Pension Protection Fund,FISCAL STUDIES, Issue 2 2006Paul Sweeting Abstract In this paper, I use a stochastic approach to model the effect that correlations between pension scheme assets and firm values should have on the premiums chargeable by the Pension Protection Fund. In particular, I look at the effect on the aggregate premium that should be charged considering a representative universe of companies and their pension schemes. I find that ignoring the correlations, even if the volatility of pension scheme assets is allowed for, leads to potentially serious underestimation of the aggregate premium due. [source] The Semi-Sovereign State: Belarus and the Russian Neo-EmpireFOREIGN POLICY ANALYSIS, Issue 2 2006KATHLEEN J. HANCOCK States sometimes sacrifice sovereignty to other states. What can account for this seemingly irrational behavior? In analyzing Belarus' membership in the Russia neo-empire, I find that four factors explain President Aleksandyr Lukashenka's decision to sacrifice some sovereignty to Russia. The first and previously most ignored variable is the degree of relation-specific assets (RSAs), most notably fuel pipelines. While Russian President Vladimir Putin has attempted to ruthlessly force Lukashenka into acquiescing control over Belarus' pipelines, Lukashenka has held firm, using an aggressive attacking campaign against Putin. This article uses process-tracing to demonstrate how a weak state's leader can use RSAs to his advantage. In addition to the critical and underappreciated role of RSAs, weak nationalism and democratic norms, and Russia's own strong interest in an economic hierarchy play an important role in explaining the current relationship between the two states. By using a rationalist analysis that incorporates norms as independent variables, I join several recent works that integrate rationalist and constructivist approaches. [source] Volatility linkages of the equity, bond and money markets: an implied volatility approachACCOUNTING & FINANCE, Issue 1 2009Kent Wang G12; G14 Abstract This study proposes an alternative approach for examining volatility linkages between Standard & Poor's 500, Eurodollar futures and 30 year Treasury Bond futures markets using implied volatility from the three markets. Simple correlation analysis between implied volatilities in the three markets is used to assess market correlations. Spurious correlation effects are considered and controlled for. I find that correlations between implied volatilities in the equity, money and bond markets are positive, strong and robust. Furthermore, I replicate the approach of Fleming, Kirby and Ostdiek (1998) to check the substitutability of the implied volatility approach and find that the results are nearly identical; I conclude that my approach is simple, robust and preferable in practice. I also argue that the results from this paper provide supportive evidence on the information content of implied volatilities in the equity, bond and money markets. [source] Suboptimal provision of preventive healthcare due to expected enrollee turnover among private insurersHEALTH ECONOMICS, Issue 4 2010Bradley Herring Abstract Many preventive healthcare procedures are widely recognized as cost-effective but have relatively low utilization rates in the US. Because preventive care is a present-period investment with a future-period expected financial return, enrollee turnover among private insurers lowers the expected return of this investment. In this paper, I present a simple theoretical model to illustrate the suboptimal provision of preventive healthcare that results from insurers ,free riding' off of the provision from others. I also provide an empirical test of this hypothesis using data from the Community Tracking Study's Household Survey. I use lagged market-level measures of employment-induced insurer turnover to identify variation in insurers' expectations and test for the effect of turnover on several different measures of medical utilization. As expected, I find that turnover has a significantly negative effect on the utilization of preventive services and has no effect on the utilization of acute services used as a control. Copyright © 2009 John Wiley & Sons, Ltd. [source] Expenditure dispersion and dietary quality: evidence from CanadaHEALTH ECONOMICS, Issue 9 2008Timothy K. M. BeattyArticle first published online: 13 AUG 200 Abstract This paper examines links between the way in which a household spreads their food expenditure over time and the dietary quality of the food they purchase. I find that households who make more frequent, smaller food purchases buy healthier foods than households who make fewer, larger purchases. These households are more likely to purchase foods with a lower share of total calories from fats, saturated fats and a larger share of calories from fruits and vegetables. The analysis is extended using quantile regression. The effect of expenditure dispersion is found to be largest among households with poor diets i.e. those households with diets high in saturated fats and low in fruits and vegetables. Copyright © 2008 John Wiley & Sons, Ltd. [source] Examining the link between price regulation and pharmaceutical R&D investmentHEALTH ECONOMICS, Issue 1 2005John A. Vernon Abstract This paper examines the link between price regulation and pharmaceutical research and development (R&D) investment. I identify two mechanisms through which price regulation may exert an influence on R&D: an expected-profit effect and a cash-flow effect. Using established models of the determinants of pharmaceutical R&D, I exploit a unique fact to quantify firm exposure to pharmaceutical price regulation: relative to the rest of the world, the U.S. pharmaceutical market is largely unregulated with respect to price. Using this fact within the context of a system of quasi-structural equations, I simulate how a new policy regulating pharmaceutical prices in the U.S. will affect R&D investment. I find that such a policy will lead to a decline in industry R&D by between 23.4 and 32.7%. This prediction, however, is accompanied by several caveats. Moreover, it says nothing about the implications for social welfare; therefore, these issues are also discussed. 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