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1 – 10 of over 9000The chapter reviews and extends the theory of exact and superlative index numbers. Exact index numbers are empirical index number formula that are equal to an underlying…
Abstract
The chapter reviews and extends the theory of exact and superlative index numbers. Exact index numbers are empirical index number formula that are equal to an underlying theoretical index, provided that the consumer has preferences that can be represented by certain functional forms. These exact indexes can be used to measure changes in a consumer's cost of living or welfare. Two cases are considered: the case of homothetic preferences and the case of nonhomothetic preferences. In the homothetic case, exact index numbers are obtained for square root quadratic preferences, quadratic mean of order r preferences, and normalized quadratic preferences. In the nonhomothetic case, exact indexes are obtained for various translog preferences.
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Keywords
- exact index numbers
- superlative index numbers
- flexible functional forms
- Fisher ideal index
- normalized quadratic preferences
- mean of order r indexes
- homothetic preferences
- nonhomothetic preferences
- cost of living indexes
- the measurement of welfare change
- translog functional form
- duality theory
- Allen quantity index
Analyses the economic system slice‐wise, taking the main economic activities for a year together. Within this slice the development of the economic activities is characterized by…
Abstract
Analyses the economic system slice‐wise, taking the main economic activities for a year together. Within this slice the development of the economic activities is characterized by plus or minus signs according to an increase or decrease of the activities. This yearly sequence of plus and minus signs is taken as a pattern. Analyses these economic patterns according to cybernetic and economic criteria. Sign‐equivalent patterns are taken together as groups. The chronological development of these groups gives the profiles of the economy. The development of profiles is quite concordant with the business cycle of the economy in question.
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D.S. Malik, J.N. Mordeson and M.K. Sen
Studies the concept of the Cartesian composition of fuzzy finite state machines. Shows that fuzzy finite state machines and their Cartesian composition share many structural…
Abstract
Studies the concept of the Cartesian composition of fuzzy finite state machines. Shows that fuzzy finite state machines and their Cartesian composition share many structural properties. Some of these properties are singly generated; retrievability, connectedness, strong connectedness, commutativity, perfection and state independence. Thus a fuzzy finite state machine which is a Cartesian composition of submachines can be studied in terms of smaller machines.
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Philip C. Wright and Gary D. Geroy
Outlines how human competency engineering can be used as a change maangement or organizational development tool, based upon studies conducted in Canada, Hong Kong and Indonesia…
Abstract
Outlines how human competency engineering can be used as a change maangement or organizational development tool, based upon studies conducted in Canada, Hong Kong and Indonesia. Suggests that a change model based on the practical application of social science and physical science concepts can be applied over several cultures.
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Marek Deja and Dorota Rak
The purpose of this paper is to investigate the influence of metaliteracy on collaborative and individual information behaviour (IB) among academic staff. The goal is to observe…
Abstract
Purpose
The purpose of this paper is to investigate the influence of metaliteracy on collaborative and individual information behaviour (IB) among academic staff. The goal is to observe the impact of these competencies on knowledge management (KM) and IB in research tasks connected with the humanities and social sciences.
Design/methodology/approach
This paper presents an implementation of two combined frameworks into a study on the IB of academics: metacompetencies described by Mackey and Jacobson in the metaliteracy model and Burke’s triple-A model. By using the Dervin’s micro-moment time-line interview framework, authors try to observe the state of development of information literacy and other supportive competencies among younger lecturers and researchers.
Findings
Scientists develop patterns of collaborative behaviour based on seven metaliteracy areas in KM.
Research limitations/implications
The study did not include students and other groups related to the academic environment. Their involvement in information processes is a very wide issue and should be the subject of a separate article.
Originality/value
The paper contributes to research development in the area of information literacy as a KM efficiency factor. IB in this paper is a broad concept, in which the development of metaliteracy is an important aspect of lecturers’ and researchers’ KM and collaboration skills.
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Yiwei Qiao, Wenrong Yang, Tianchen Huo, Guohang Chen, Haojie Zhang and Junling Luan
The purpose of this paper is to study conducted electromagnetic interference (EMI) of the high-low voltage DC/DC converter based on GaN high-electron-mobility transistors (HEMTs…
Abstract
Purpose
The purpose of this paper is to study conducted electromagnetic interference (EMI) of the high-low voltage DC/DC converter based on GaN high-electron-mobility transistors (HEMTs) in electric vehicle, and design EMI filters to suppress the conducted EMI.
Design/methodology/approach
The conducted EMI propagation model is established through simulation and analysis studying the influences of parasitic parameters, operation mode, output power and near-field capacitive coupling effects on conducted EMI of the DC/DC converter and comparing the suppression effects of EMI filters with different topologies to select the best EMI filter.
Findings
It is shown that parasitic parameters, operation mode, output power and near-field capacitive coupling effects can affect the conducted EMI of the DC/DC converter, and EMI filters of the CLC topology can effectively suppress the conducted EMI below the limit of CISPR 25.
Originality/value
Analysis of conducted EMI and design of EMI filters greatly facilitate further explorations and studies on EMI problems of the high-low voltage DC/DC converter based on GaN HEMTs.
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MARK H.A. DAVIS, WALTER SCHACHERMAYER and ROBERT G. TOMPKINS
This article discusses static hedges for installment options, which are finding broad application in cases where the option‐buyer may reduce up‐front premium costs via early…
Abstract
This article discusses static hedges for installment options, which are finding broad application in cases where the option‐buyer may reduce up‐front premium costs via early termination of an option. An installment option is a European option in which the premium, instead of being paid up front, is paid in a series of installments. If all installments are paid, the holder receives the exercise value, but the holder has the right terminate payments on any payment date, in which case the option lapses with no further payments on either side. The authors summarize pricing and risk management concepts for these options, in particular, using static hedges to obtain both no‐arbitrage pricing bounds and very effective hedging strategies with almost no vega risk.
Seung‐Woog (Austin) Kwag and Alan A. Stephens
The purpose of this paper is to investigate whether earnings management that surpasses a threshold is associated with market mispricing.
Abstract
Purpose
The purpose of this paper is to investigate whether earnings management that surpasses a threshold is associated with market mispricing.
Design/methodology/approach
The paper examines the level of discretionary current accruals (DCA) as a proxy for earnings quality. Operationally the threshold of earnings management is defined as the mean DCA, and it is assumed that highly managed firms (both income‐decreasing and income‐increasing) produce low‐quality earnings information. It is postulated that such management may lead to mispricing errors by investors who make incorrect adjustments for lower earnings quality.
Findings
The evidence suggests that investors possess idiosyncratic perceptions toward earnings management. Investors of income‐decreasing firms tend to under‐adjust for analyst optimism, while investors of income‐increasing firms are inclined to over‐adjust for analyst optimism. In addition, investors of both types of highly managed firms appear to under‐adjust for earnings management. These investor characteristics result in a post‐earnings announcement upward drift of cumulative abnormal returns (CARs) for income‐decreasing firms and a downward drift for income‐increasing firms.
Practical implications
The findings strongly indicate that there is a significant mispricing at the earnings announcement date for the income‐decreasing (P1) and income‐increasing (P5) portfolios and the mispricing persists in the short run. Thus, it may be possible for investors to exploit the mispricing by holding a long position in P1 and a short position in P5.
Originality/value
Prior studies concentrate on extreme cases of earnings management that are subject to securities and exchange commission (SEC) enforcement. In contrast to these studies, this paper focuses on the market reaction to earnings management, which may or may not lead to SEC enforcement actions.
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Ruth Sessler Bernstein and Diana Bilimoria
Using survey data of nonprofit board members from racial/ethnic minority groups, the purpose of this paper is to investigate how the three work group perspectives toward diversity…
Abstract
Purpose
Using survey data of nonprofit board members from racial/ethnic minority groups, the purpose of this paper is to investigate how the three work group perspectives toward diversity theorized by Ely and Thomas (2001) – discrimination-and-fairness (P1), access-and-legitimacy (P2), and integration-and-learning (P3) – are associated with minority group members’ inclusion experiences.
Design/methodology/approach
The paper investigates how an organization's motivations for board diversity, as perceived by racial/ethnic minority board members, drive various organizational- and board-level practices and behaviors, and ultimately impact their experience of inclusion. The paper uses two different operationalizations of the diversity perspectives to assess their impact on minority board members’ inclusion experiences. The hypothesized model was tested using partial least squares analyses on the responses of 403 racial/ethnic minority nonprofit board members.
Findings
Regardless of the measure used, racial/ethnic minority board members experienced increased feelings of inclusion as the perceived operating perspective for board diversity changed from P1 to P2 to P3, while concurrently the mediating factors influencing inclusion experiences changed in significance. Findings support the importance of the integration-and-learning perspective for the experience of inclusion by racial/ethnic minority board members.
Practical implications
Findings indicate that organizations that employ an integration-and-learning approach to diversity and focus on encouraging their majority group members to engage in inclusive behaviors, rather than on policies and procedures, will engender the racial/ethnic minorities’ experience of inclusion.
Originality/value
The paper quantitatively investigated how three organizational diversity paradigms are associated with the individual inclusion experiences of minority nonprofit board members.
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François Bry and Alexander Yong-Su Pohl
Several challenges of today’s higher education were motivations to reconsider the contents and formats of lectures and tutorials and to conceive the classroom communication system…
Abstract
Purpose
Several challenges of today’s higher education were motivations to reconsider the contents and formats of lectures and tutorials and to conceive the classroom communication system Backstage, a social media platform supporting a novel form of large-class teaching. The purpose of this paper is to report on the challenges met, on the novel teaching form and on an evaluation of this teaching form.
Design/methodology/approach
The use of Backstage in two courses is evaluated. One of the courses has been specially adapted to promote student participation, the other course has been held in a traditional way. To investigate the usefulness and acceptance of Backstage in the given settings the data collected on Backstage and student responses in surveys are analyzed.
Findings
The results indicate that Backstage can foster interactivity and awareness in large-class lectures when used in combination with a teaching format that provides opportunities for and encourges lecture-relevant communication. Furthermore, students appreciated the use of Backstage.
Research limitations/implications
This paper reports on a case study which lacks generalizability. Further studies under controlled conditions and of the learning effectiveness of the approach are still outstanding.
Practical implications
This paper describes an approach fostering a form of Active Learning in large classes. Since large classes are widespread in higher education, the approach has a considerable practical potential.
Social implications
The paper describes an approach to large class higher education teaching in using social media.
Originality/value
Similar results have not been published so far.
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