Home  About us  Contact
 

Public Announcements (public + announcement)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting75%

Selected Abstracts

Information acquisition, dissemination, and transparency of monetary policy

CANADIAN JOURNAL OF ECONOMICS, Issue 1 2008
Jacob Wong
Abstract., This paper examines the role of transparency in a benevolent monetary authority's policies. Each firm's payoff depends on unobservable macroeconomic conditions and firms may incur a cost to acquire private information about macroeconomic conditions. The policy authority attempts to infer the underlying macroeconomic conditions from a noisy measure of aggregate actions and makes a public announcement to inform firms of this inference. High-quality announcements provide firms the incentive not to gather private information and base actions solely on information contained in policy announcements. However, this makes the observed actions of firms less informative to the policy authority. Ce mémoire examine le rle de la transparence dans les politiques d'une autorité monétaire bienveillante. Les résultats financiers de chaque entreprise dépendent de conditions macroéconomiques qui ne sont pas observables et les entreprises peuvent avoir à encourir des cots pour acquérir ces renseignements. L'autorité monétaire essaie d'extraire ce que sont les conditions macroéconomiques de base à partir d'une mesure agrégée des activités, et en fait l'annonce pour informer les entreprises. La grande qualité de telles annonces incite les entreprises à ne pas essayer de se procurer de tels renseignements privément, ce qui fait qu'elles fondent leurs décisions seulement sur les renseignements annoncés par l'autorité monétaire. Voilà qui rend l'observation du comportement des entreprises bien moins riche en information pour l'autorité monétaire. [source]

Hypertension in Women: The Women Take Heart Project

JOURNAL OF CLINICAL HYPERTENSION, Issue 1 2003
Alice A. Furumoto-Dawson PhD
Hypertension is an important, modifiable risk for cardiovascular disease. The Women Take Heart study, a prospective, community-based cohort study of risk factors for heart disease, provides an opportunity to examine prevalence, awareness, and control of hypertension specifically in women. In 1992, 5932 women, age 35 and older (mean age, 52.9; 86% white, 9% African American, 5% other) and free of active heart disease symptoms for 3 months, were recruited through Chicago area public announcements, and their baseline examination data analyzed. Overall, 47.6% were hypertensive (systolic blood pressure 140 mm Hg or diastolic blood pressure 90 mm Hg, or self-report). Only 17.3% reported being hypertensive; in 63.2% of all hypertensive women, the hypertension was undetected or unacknowledged. Blood pressure was controlled to <140/90 mm Hg in 24.1% of self-reported hypertensives. Results from this study and national surveys indicate that hypertension detection and control remain major public health challenges in preventing cardiovascular disease in older women. [source]

The Impact of Simple Institutions in Experimental Economies with Poverty Traps,

THE ECONOMIC JOURNAL, Issue 539 2009
C. Mónica Capra
We introduce an experimental approach to study the effect of institutions on economic growth. In each period, agents produce and trade output in a market, and allocate it to consumption and investment. Productivity is higher if total capital stock is above a threshold. The threshold externality generates two steady states , a suboptimal ,poverty trap' and an optimal steady state. In a baseline treatment, the economies converge to the poverty trap. However, the ability to make public announcements or to vote on competing and binding policies, increases output, welfare and capital stock. Combining these two simple institutions guarantees that the economies escape the poverty trap. [source]

Linking Product Development Outcomes to Market Valuation of the Firm: The Case of the U.S. Pharmaceutical Industry,

THE JOURNAL OF PRODUCT INNOVATION MANAGEMENT, Issue 5 2004
Anurag Sharma
The purpose of this research was to examine empirically the effects of new product development outcomes on overall firm performance. To do so, first product development and finance literature were connected to develop three testable hypotheses. Next, an event study was conducted in order to explore whether the changes in the stock market valuation of firms are influenced by the outcomes of efforts to develop new products. The pharmaceutical industry was chosen as the empirical context for the present study's analysis largely because the gate-keeping role played by the Food and Drug Administration (FDA) provides a specific event date on which to focus the event study methodology. As such, this study's events were dates of public announcements of the FDA decisions to approve or to reject the New Drug Applications submitted by the sponsoring firms. Consistent with the efficient market hypothesis, this study's results show that market valuations are responsive strongly and cleanly to the success or failure of new product development efforts. Hence, one of this study's key results suggests that financial markets may be attuned sharply to product development outcomes in publicly traded firms. This study also finds that financial market losses from product development failures were much larger in magnitude than financial market gains from product development successes,indicating an asymmetry in the response of financial markets to the success and failure of new product development efforts. Hence, another implication of this study's results is that managers should factor in a substantial risk premium when considering substantial new development projects. The present study's results also imply that managers should refrain from hyping new products and perhaps even should restrain the enthusiasm that the financial community may build before the product fully is developed. The effect on firm value is severe when expectations about an anticipated new product are not fulfilled. Managers in effect should take care to build reasonable and realistic expectations about potential new products. [source]