The Trouble with Diversifying the Faculty

Author(s): Walter Benn Michaels / Language(s): English / Issue: 1/2012

This article presents the problem of politics of di erence realized within the American educational system, with a special emphasis on higher education. This politics is according to the author based on putting in the center of all educational actions the idea of diversity, as well in creating academic institutions. This key idea becomes in the American context a special significance, regarding the fact that the American society is based on ideology that celebrates multiculturalism and diversity as such. This article presents also an important for the contemporary situation in the United States problem of combining cultural and ethnic diversity on the economical category of di erence between various classes. Furthermore, it seems to be more significant in the light of the economic crisis in recent years that affected also American education in the same extent.

"I'll Think about it Tomorrow": Price Drifts Following Large Pre-Holiday Stock Price Moves

Author(s): Andrey KUDRYAVTSEV / Language(s): English / Issue: 2/2017

The study explores the holiday effect on large daily stock price changes and on subsequent stock returns. The motivation for the study is based on the Mood Maintenance Hypothesis and on the literature documenting lower stock trading activity before holidays. I hypothesize that if a company-specific shock takes place before a holiday, then investors striving to maintain their positive pre-holiday mood, may be less willing to make influential trading decisions, and therefore, may react relatively more weakly to the shock. This kind of behavior may create an underreaction to the shock and result in subsequent price drift. I analyze all major daily stock price moves, defined according to a number of alternative proxies, for all the constituents of S&P 500 Index over the period from 1993 to 2017. I document that both positive and negative stock price moves occurring immediately before public holidays are followed by significant price drifts on the next two (post-holiday) trading days and over five- and twenty-day intervals following the initial price move. The magnitude of these post-event drifts increases over longer time windows. On the other hand, I find that large stock price changes taking place on regular days are followed by either non-significant or marginally significant price reversals. The effect is more pronounced for small and more volatile stocks.

(Local) Wage Settings and (International) Entry Deterrence

Author(s): Domenico Buccella / Language(s): English / Issue: 2/2017

The present paper investigates the use of national wage settings as a mechanism to deter entry via foreign direct investment (FDI) in a unionized monopoly industry. A union which sets centralized wages in a multi-unit firm can both decentralize and change the agenda to prevent the market entry of a non-unionized firm. The adoption of the efficient bargaining agenda is especially effective to deter entry because it lowers the fixed-cost threshold the entrant can bear. Moreover, through side-payments, the incumbent and the union can have common interests in modifying the wage setting to reach outcomes that is Pareto-superior to duopoly. However, if the union cedes “too much power” and becomes “too weak”, internal conflicts with the incumbent firm may arise.

100 Years of the Polish Statistical Association

Author(s): Czesław Domański / Language(s): English / Issue: 1/2012

105 ANI DE LA PUBLICAREA ÎN ROMÂNIA A PRIMULUI TRATAT DE CALCUL PENTRU ELEMENTELE DE BETON ARMAT

Author(s): George M. CROITORU / Language(s): Romanian / Issue: 1/2020

Reinforced concrete was introduced in Romania since the end of the 19th century by Professor Anghel Saligny (18541925), the most important personality in the history of the Romanian civil engineering. The one who introduces the study of reinforced concrete, through lessons and projects, at the National School of Bridges and Roads in Bucharest, is Professor Ion Ionescu (18701946). Professor Ion Ionescu published the book Reinforced concrete. Elementary exposure of construction rules and calculation principles in May 1915. This is the first book published in the Romanian technical literature which presents material characteristics, execution, quality control, guidelines for structural calculation and examples of calculations for reinforced concrete elements. This technical book has a major historical importance and is a fundamental reference for the evolution and development of the study of reinforced concrete in Romania.

20 Years of European Monetary Policy. From Doctrinarism to Realpolitik 1

Author(s): Luis Ángel Hierro,Antonio José Garzón,Helena Domínguez-Torres / Language(s): English / Issue: Special-2/2019

This paper describes the monetary policy of the European Central Bank since the birth of the Euro. The different economic situations and the monetary policies implemented during the mandate of each one of the three ECB presidents are analysed as a process of evolution. We study the situations of cyclical asynchrony together with the response given to it by the European monetary authority. We also assess the change experienced by the main economic indicators of the twelve founding countries during the 20 years of the single currency. The main conclusion obtained is that monetary policy has evolved from the strict approach defined in the Treaty on the Functioning of the European Union to an approach closer to that of the rest of central banks, which we have called “monetary realpolitik”.

21ST CENTURY VALUE – BASED EDUCATION’S IMPERATIVES WITHIN ROBOTIC TECHNOLOGIES

Author(s): Silviu Mihai Petrișor,Ramona Petrișor,Ghiţă Bârsan / Language(s): English / Issue: 6/2011

The present paper highlights some of the desiderata expressed at an international level, namely the scientific and technological potential’s developing, perceiving the technological innovation, not only by means of the economic benefit, but also in terms of the implementing context, the existing reports between the technological advance and the power geography perspective, correcting, by means of an educational process, the vicious behavior, which tends to change the technological achievements into abuse instruments, meant to force the weak ones to obey the powerful force.

7799Innovative Activity of Enterprises in the Health Care Sector in Cooperation with Other Entities Based on the Example of the Lodz Province

Author(s): Jadwiga Kaczmarska-Krawczak / Language(s): English / Publication Year: 0

Purpose: Innovative processes of enterprises do not only depend on the innovative potential oforganisations building their potential individually, but on the cooperation of enterprises withother entities which allow the activity economization. It is a result of scale of action and sharingthe costs and risk of undertakings. Cooperation between enterprises contributes to constantsearch, as well as to the use of the R&D results, new projects, concepts and innovations inpractice. Design/methodology/approach: Empirical research was held within the period of June – July2018 using the survey methodology. Surveys covered the cooperation of enterprises from thehealth care sector within the innovative activity with other entities. Findings: Enterprises from the health care sector pay close attention to scientific research andcooperation in creating innovations with universities and scientific research institutes.Cooperation provides them with a broader access to knowledge and other resources. It allowsthe entry on new markets or the increase of market share. What is more, it allows to achievesynergy and other benefits which an enterprise focused only on itself cannot reach. Research/practical implications: Enterprises from the health care sector pay close attentionto cooperation in the creation of innovations with other entities. Those aspects link to activeinvolvement in innovative processes and the undertaking of actions in this regard, but also toan active attitude in acquiring necessary resources. Originality/value: The article presents new results of research concerning the cooperation ofenterprises from the health care sector within the innovative activity with other entities in LodzProvince, Poland. The author’s contribution to scientific achievements in the economics comesdown to designation of specific directions. Those concern the cooperation of enterprises fromthe health care sector, summary of the cooperation areas of enterprises together with theverification of innovations developed in particular areas of cooperation, and recommendationsin the scope of shaping further cooperation for the fields of science and business.

7th Conference Survey Sampling in Economic and Social Research in 60th anniversary of foundation of the Department of Statistics at the University of Economics in Katowice

Author(s): Tomasz Żądło / Language(s): English / Issue: 2/2011

A BAYESIAN INFERENCE OF MULTIPLE STRUCTURAL BREAKS IN MEAN AND ERROR VARIANCE IN PANEL AR (1) MODEL

Author(s): Varun Agiwal,Kumar Jitendra,D. K. Shangodoyin / Language(s): English / Issue: 1/2018

This paper explores the effect of multiple structural breaks to estimate the parameters and test the unit root hypothesis in panel data time series model under Bayesian perspective. These breaks are present in both mean and error variance at the same time point. We obtain Bayes estimates for different loss function using conditional posterior distribution, which is not coming in a closed form, and this is approximately explained by Gibbs sampling. For hypothesis testing, posterior odds ratio is calculated and solved via Monte Carlo Integration. The proposed methodology is illustrated with numerical examples.

A Better Estimator of Population Mean with Power Transformation Based on Ranked Set Sampling

Author(s): Nitu Mehta,V. L. Mandowara / Language(s): English / Issue: 3/2012

Ranked set sampling (RSS) was first suggested by McIntyre (1952) to increase the efficiency of estimate of the population mean. It has been shown that this method is highly beneficial to the estimation based on simple random sampling (SRS). There has been considerable development and many modifications were done on this method. This paper presents a modified ratio estimator using prior value of coefficient of kurtosis of an auxiliary variable x, with the intention to improve the efficiency of ratio estimator in ranked set sampling. The first order approximation to the bias and mean square error (MSE) of the proposed estimator are obtained. A generalized version of the suggested estimator by applying the Power transformation is also presented.

A Bounds Testing Analysis of Migrants Remittances and Financial Development in Selected Sub-Sahara African Countries

Author(s): Taiwo Ajilorea,Sylvanus Ikhider / Language(s): English / Issue: 2/2012

The study investigated the short and long run impact of remittances on financial development, using country-level data on five selected sub-Saharan African countries, which are Cape-Verde, Lesotho, Nigeria, Senegal and Togo. The study utilized the Auto-Regressive Distributed Lag (ARDL) bounds testing approach for testing the existence of co-integration relationships. The study documented the existence of long-run level relationships between remittances and financial development, and documented evidences which show that remittances promote financial development in Cape Verde, Lesotho, Senegal and Togo, but not in Nigeria. The study advocated policies that encourage and facilitate the uninterrupted flow of remittances transfers, adequate institutions, regulatory strengthening and sound macroeconomic policies in the selected countries.

A Class of Chain Ratio-Cum-Dual to Ratio Type Estimator with Two Auxiliary Characters under Double Sampling in Sample Surveys

Author(s): S. Choudhury,B. K. Singh / Language(s): English / Issue: 3/2012

This paper considers a chain ratio-cum-dual to ratio type estimator for estimating population mean of the study variate using two auxiliary variates under double (two-phase) sampling procedure, when the information on another additional auxiliary variate is available along with the main auxiliary variate. The asymptotically optimum estimators (AOEs) in the class are identified in two different cases with their bias and variances. The optimum values of the first phase and second phase sample sizes have been obtained for the fixed cost of survey. Theoretical and empirical studies have also been done to demonstrate the efficiency of the proposed estimator with respect to strategies which utilized the information on two auxiliary variates.

A Class of Product-Type Exponential Estimators of the Population Mean in Simple Random Sampling Scheme

Author(s): A. C. Onyeka / Language(s): English / Issue: 2/2013

The present study proposes a class of product-type exponential estimators for estimating the population mean of the study variable, using known values of some population parameters of an auxiliary character, under the simple random sampling without replacement (SRSWOR) scheme. Furthermore, the study also proposes a modified exponential estimator based on both the ratio-type and the product-type exponential estimators. Properties of the proposed estimators, under the SRSWOR scheme, are obtained up to first order approximation. The modified exponential estimator under optimum conditions is shown to be more efficient than the simple sample mean and the ratio-type and product-type exponential estimators. The theoretical results are supported by an empirical illustration.

A Class of Regression Type Estimators in Survey Sampling

Author(s): Govind Ch. Misra,Subhash K. Yadav,Alok K. Shukla / Language(s): English / Issue: 3/2011

A class of linear regression models has been proposed for the estimation of population mean and total when information regarding auxiliary variate is available in survey sampling using regression method of estimation by introducing a new auxiliary variable z, which may also be a function of the auxiliary variable x. The proposed model leads to reduction in mean squared error as compared to ordinary regression method of estimation. The improvement has been demonstrated over ordinary regression estimator and also on ratio estimator with the help of an empirical example.

A Class of Two Phase Sampling Estimators for Ratio of Two Population Means Using Multi-Auxiliary Characters in the Presence of Non-Response

Author(s): B. B. Khare,R. R. Sinha / Language(s): English / Issue: 3/2014

In this paper, a class of two phase sampling estimators for estimating the ratio of two population means using multi-auxiliary characters with unknown population means has been proposed in presence of non-response. The asymptotic bias, mean square error and minimum mean square error of the proposed class of estimators have been obtained. The optimum values of the sample at the first and the second phases along with the sub-sampling fraction of the non-responding group have been determined for the fixed cost and for the specified precision. The efficiency of the proposed class of estimators has also been shown through the theoretical and empirical studies.

A Comparative Analysis of Direct Marketing Strategies Used by Retail Chains in the Pardubice Region

Author(s): Jan Chocholáč / Language(s): English / Publication Year: 0

Purpose: The purpose of this paper is to analyse and compare some marketing strategies of direct marketing from the perspective of retail chains in the Pardubice region in selected period. Direct marketing is one of the most popular forms of communication mix used by retail chains in the Czech Republic, although prospectuses of each retail chain are very different. The aim of this paper is to compare and analyse prospectuses used by selected retail chains in the Pardubice region and imply some innovation for management of direct marketing strategies used by retail chains.Design/methodology/approach: The paper assumes the use of these scientific methods – primary qualitative research (survey among customers of analysed retail chains and testing hypothesis using chi-quadrate test), secondary qualitative research (comparative analysis and content analysis of prospectuses analysed retail chains). The article analyses 37 basic prospectuses and 10 special prospectuses used in December 2016 by these retail chains in the Pardubice region – Lidl Česká republika v.o.s. (Lidl), Penny Market s.r.o. (Penny Market), Tesco Stores ČR a.s. (Tesco), GLOBUS, spol. s r.o. (Globus), Kaufland Česká republika v.o.s. (Kaufland) and AHOLD Czech Republic, a.s. (Albert). Findings: The paper provides empirical insights about marketing strategies of direct marketing used by retail chains in the Pardubice region in December 2016 which was the period with the biggest turnover in 2016. Research/practical implications: The research provides the comparison and evaluation of prospectuses of retail chains in the Pardubice region in the selected period. The paper suggests innovative recommended marketing strategy for prospectuses of retail chains which they can use especially in Pardubice region. On the other hand results of this analysis can be used by retail chains in innovation of management of their marketing strategies at the national level. Small and medium enterprises can use some results of this analysis for advertising of their products in prospectuses of retail chains and for innovation of their marketing strategies.Originality/value: This paper analysed, compared and evaluated direct marketing strategy of the retail chains in the Pardubice region and suggested recommended and innovative direct marketing strategy for prospectuses of retail chains and for small and medium enterprises.

A comparative study of financial literacy, retirement planning and delinquency in payment: the Kazakhstan case

Author(s): Maya KATENOVA,Sang HOON LEE / Language(s): English / Issue: 1/2020

Financial knowledge is assumed to help people in making good choices in their financial attitude and behaviour. Financial literacy, retirement planning and delinquency in payment were studied in different regions of Kazakhstan in both 2015 and 2019. Questionnaires were distributed among different groups of the population. Excluding invalid and unsuitable answers for the analysis, the total number of survey responses resulted was 830 for 2015 and 983 for 2019. The authors analyzed the responses to questions regarding financial attitude/behaviour such as Retirement Planning, Delinquency in payments, and the frequency of making Money Decisions.

A Comparison of Corporate Governance and Tax Avoidance of UK and Japanese Firms

Author(s): Bassem Salhi,Jabr Al Jabr,Anis Jarboui / Language(s): English / Issue: 3/2020

The present study was designed to determine the relationship between corporate governance and tax avoidance in an international setting. Financial and governance data sourced from the Datastream database for a sample of Japanese and UK firms between 2012 and 2017 are used. First, we examine the direct effect of several corporate governance mechanisms on tax avoidance. Second, we divide the full sample into two groups (common law and code law legal system) to explore the relationship between law, corporate governance, and tax avoidance. We use both univariate and feasible generalized least square (FGLS) regression methods to examine our hypotheses. This study finds that the board size, independent directors, and the presence of women on boards of directors reduce the likelihood of tax avoidance. However, we find an insignificant association between ownership concentration and tax avoidance. Second, it also finds that firms in countries with higher country-level governance engage in less tax avoidance. The results also suggest that the role of corporate governance is more pronounced for firms operating in common law countries than those in code law countries. This manuscript is one of the few studies that examine the relationship between corporate governance and tax avoidance in an international setting with different legal and institutional environment. This relationship differs across the two countries. This paper clearly identifies implications for research, practice, and society. It documents that when a country implements a good system of governance, which targets improving transparency and accountability, it will lead to less corporate tax avoidance.

A Comparison of Small Area and Calibration Estimators via Simulation

Author(s): Michael A. Hidiroglou,Victor M. Estevao / Language(s): English / Issue: 1/2016

Domain estimates are typically obtained using calibration estimators that are direct or modified direct. They are direct if they strictly use data within the domain of interest. They are modified direct if they use both data within and outside the domain of interest. An alternative way of producing these estimates is through small area procedures. In this article, we compare the performance of these two approaches via a simulation. The population is generated using a hierarchical model that includes both area effects and unit level random errors. The population is made up of mutually exclusive domains of different sizes, ranging from a small number of units to a large number of units. We select many independent simple random samples of fixed size from the population and compute various estimates for each sample using the available auxiliary information. The estimates computed for the simulation included the Horvitz-Thompson estimator, the synthetic estimator (indirect estimate), calibration estimators, and unit level based estimators (small area estimate). The performance of these estimators is summarized based on their design- based properties.