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The purpose of this paper is to examine the ability of hedge funds and funds of hedge funds to generate absolute returns using fund level data.

The absolute return profiles are identified using properties of the empirical distributions of fund returns. The authors use both Bayesian multinomial probit and frequentist multinomial logit regressions to examine the relationship between the return profiles and fund characteristics.

Some evidence is found that only some hedge funds strategies, but not all of them, demonstrate higher tendency to produce absolute returns. Also identified are some investment provisions and fund characteristics that can influence the chance of generating absolute returns. Finally, no evidence was found for performance persistence in terms of absolute returns for hedge funds but some limited evidence for funds of funds.

This paper is the first attempt to examine the hedge fund return profiles based on the notion of absolute return in great details. Investors and managers of funds of funds can utilize the identification method in this paper to evaluate the performance of their interested hedge funds from a new angle.

Using the properties of the empirical distribution of the hedge fund returns to classify them into different absolute return profiles is the unique contribution of this paper. The application of the multinomial probit and multinomial logit models in the fund performance and fund characteristics literature is also new since the dependent variable in the authors' regressions is multinomial.

The purpose of this paper is to evaluate and rank the influence of internet public opinion of China’s Government work in 2015 by weighted absolute degree of grey incidence with TOPSIS.

This disaggregation method includes four main steps, determine the vector of weights for the factors by analytic hierarchy process, calculate the matrix of consistent effect measure, determine the weighted absolute degree of grey incidence with TOPSIS, rank and evaluate the events.

We get the ranking of internet public opinion of China’s Government work in 2015 by weighted absolute degree of grey incidence with TOPSIS. The result can be used for evaluating and ranking the influence of internet public opinion in China. The positive weighted absolute degree of grey incidence, the negative weighted absolute degree of grey incidence and the weighted absolute degree of grey incidence with TOPSIS have the same ranking results. The same ranking results show that the method of weighted absolute degree of grey incidence with TOPSIS has good consistency.

The weighted absolute degree of grey incidence with TOPSIS can be easily used for other evaluation.

The weighted absolute degree of grey incidence with TOPSIS is proposed and first used for evaluating and ranking the influence of internet public opinion of China’s Government work.

The purpose of this paper is to examine the popular “information transmitted” interpretation of absolute judgments, and to provide an alternative interpretation if one is needed.

The psychologists Garner and Hake and their successors used Shannon's Information Theory to quantify information transmitted in absolute judgments of sensory stimuli. Here, information theory is briefly reviewed, followed by a description of the absolute judgment experiment, and its information theory analysis. Empirical channel capacities are scrutinized. A remarkable coincidence, the similarity of maximum information transmitted to human memory capacity, is described. Over 60 representative psychology papers on “information transmitted” are inspected for evidence of memory involvement in absolute judgment. Finally, memory is conceptually integrated into absolute judgment through a novel qualitative model that correctly predicts how judgments change with increase in the number of judged stimuli.

Garner and Hake gave conflicting accounts of how absolute judgments represent information transmission. Further, “channel capacity” is an illusion caused by sampling bias and wishful thinking; information transmitted actually peaks and then declines, the peak coinciding with memory capacity. Absolute judgments themselves have numerous idiosyncracies that are incompatible with a Shannon general communication system but which clearly imply memory dependence.

Memory capacity limits the correctness of absolute judgments. Memory capacity is already well measured by other means, making redundant the informational analysis of absolute judgments.

This paper presents a long‐overdue comprehensive critical review of the established interpretation of absolute judgments in terms of “information transmitted”. An inevitable conclusion is reached: that published measurements of information transmitted actually measure memory capacity. A new, qualitative model is offered for the role of memory in absolute judgments. The model is well supported by recently revealed empirical properties of absolute judgments.

Various indicators of income inequality and social welfare can be obtained simply by using the Gini index and the mean income of the population. This paper reviews existing indicators and presents several new indicators of this kind. While contemporary researchers seem to be preoccupied with relative inequality, this paper advocates for using intermediate inequality views and supplementing inequality rankings of countries with rankings based on social welfare. Empirical analysis, performed for 36 European countries, demonstrates such an approach’s advantages.

What change in the distribution of a population’s health preserves the level of inequality? The answer to this analogous question in the context of income inequality lies somewhere between a uniform and a proportional change. These polar positions represent the absolute and relative inequality equivalence criterion (IEC), respectively. A bounded health variable may be presented in terms of both health attainments and shortfalls. As a distributional change cannot simultaneously be proportional to attainments and to shortfalls, relative inequality measures may rank populations differently from the two perspectives. In contrast to the literature that stresses the importance of measuring inequality in attainments and shortfalls consistently using an absolute IEC, this chapter formalizes a new compromise concept for a bounded variable by explicitly considering the two relative IECs, defined with respect to attainments and shortfalls, to represent the polar cases of defensible positions.

We use a surplus-sharing approach to provide new insights on commonly used inequality indices by evaluating the underpinning IECs in terms of how infinitesimal surpluses of health must be successively distributed to preserve the level of inequality. We derive a one-parameter IEC that, unlike those implicit in commonly used indices, assigns constant weights to the polar cases independent of the health distribution.

This study aims to examine the role of salespeople’s skills in relative and absolute SP in business-to-business (B2B) settings of services firms. This conceptual logic reported in meta-analytical works, that salespeople’s skills relate directly to their sales performance (SP), is questioned.

his research relies on existing theory and previous studies on SP drivers and SP measures. The literature identifies a set of common denominators on the role of salespeople’s skills regarding their SP, all of which are tested in this study. Based on a deductive approach and questionnaire survey, 732 service firms in Norway were targeted. A total of 389 questionnaires were returned, generating a response rate of 53.1%.

A total of 10 out of 12 hypothesized relationships in the research model dealing with the relationship between SP drivers and SP turn out to be non-significant. The hypothesized relationship in the research model between relative and absolute SP is also supported.

The results reported in this study, based on a large sample of service firms, empirically confirm that the direct effect is generally overestimated. Empirical evidence is provided that sheds additional light on the role of salespeople’s skills in relative and absolute SP in B2B settings of services firms.

This study offers meaningful and relevant insights into the monitoring of SP drivers to practitioners in B2B sales settings of services firms. Salespeople need to learn about gathering knowledge in training programs about each customer and their specific situation. Firms should strive to recruit salespeople who possess the appropriate skills, taking into consideration their customers and specific situations related to them, such as experiences from competitors. Salespeople may be organized around similar customers and similar customer situations, rather than geographical assignments.

Overall, this research contributes insights into the role played by salespeople’s skills in relative and absolute SP in B2B settings of services firms. In particular, the research contributes additional insights into the non-existent role of interpersonal presentation and communication skills, adaptiveness of sales approach and sales behavior skills and product/technology-related knowledge skills in salespeople’s relative and absolute SP in B2B settings of services firms.

The onset of Darcy–Benard convection in a fluid-saturated porous layer within channeled walls can be through either the convectively amplified perturbations or absolutely unstable modes. The convective type route to formation of cellular forms has received much more interest in the literature than the absolute mode. This paper aims to explore the absolute instability mechanism on triggering the Benard convection in the presence of a uniform magnetic field acting perpendicular to the channel walls.

Pursuing a completely theoretical linear stability approach, the locus of wavenumbers and critical Rayleigh numbers with respect to varying Peclet numbers leading to zero complex group velocity, and hence the absolute instability onset, is formulated in closed form. The formulae also incorporate the influence of fluid movement through the porous layer.

Wanenumbers are found to be increasing in magnitude under the effect of the magnetic field. Although the magnetic field expectedly behaves in favor of stabilizing the convection through both convective and absolute instabilities by pushing the threshold value of Rayleigh number to higher values, a peculiarity exists in such a manner that the stabilizing effect of magnetic field can no longer compete against the absolute instability mechanism within the magnetized field after some critical location possessing negative part of the wavenumber.

The significant outcome is attributed to the exchange of instabilities as far as the absolute instability mechanism is concerned. Magnetic field is always stabilizing and no such trend is observed regarding the convective type instability.

The purpose of this paper is to test the direct effect of B2B sellers' skills on relative and absolute sales performance.

Based on a questionnaire survey and deductive approach. A total of 236 useable questionnaires out of 315 are returned, generating a response rate of 74.9%.

Only one out of twelve hypothesized relationships in the research model of the direct effect of B2B sellers' skills on relative and absolute sales performance turned out to be significant.

Indicate that the researchers’ current understanding of the effect of sales performance indicators on sales performance, based on B2B sellers' skills, is narrow and simplistic.

Results indicate that there are skills other than the tested ones (i.e. interpersonal, adaptiveness and selling-related knowledge), that can have direct effects on B2B sellers' relative and absolute sales performance.

Sheds light on the ambiguous direct effect of B2B sellers' skills on sales performance and the almost non-existent direct effect on B2B sellers' relative and absolute sales performance.