Trust, Faith, and Betrayal: Insights from Management for the Wise Believer

Trust within a secular or organizational context is much like the concept of faith within a religious framework. The purpose of this article is to identify parallels between trust and faith, particularly from the individual perspective of the person who perceives a duty owed to him or her. Betrayal is often a subjectively derived construct based upon each individual’s subjective mediating lens. We analyze the nature of trust and betrayal and offer insights that a wise believer might use in understanding his or her relationship with the divine. We suggest that the parallels between trust and faith involve a willingness to relinquish one’s power or control in the expectant hope that our needs will be met. Betrayal, however, is often profoundly misunderstood.     

The Price Impacts of Open Market Repurchase Trades

Abstract:  This paper analyzes a database of 60,000+ individual repurchase trades from the Toronto Stock Exchange. The average intraday price impact of repurchase trades is negative, since, because of execution rules, 60% are seller-initiated. Prices fall less following repurchase than matched non-repurchase trades—there is an abnormal price impact. We find evidence consistent with two hypotheses: repurchases provide price support, and the market learns that the shares are undervalued. Consistent with the latter, we find that repurchasing companies have superior timing. Share prices show abnormal losses (gains) before (after) the repurchase trades. We find no significant market reaction to the mandatory public disclosure of the trade details.     

Response to cash outs for work place parking and work place parking charges

Free work place parking has long been considered to have a strong influence on whether or not individuals use their car for their trips to work. A survey of local authority employees was conducted to examine their potential responses to the removal of free work place parking spaces, how they would respond to parking cash-out policies and to work place parking charges, and finally their responses to specific values of cash out payments. It was found that as age increases individuals are less likely to accept any form of cash out. When individuals have one or more cars available they are more likely to opt for a cash out scheme. Females are more likely to opt for the various cash out schemes than males. The results seem to suggest that if an individual has a higher income it does not necessarily mean they will opt to keep their space.     

Coordination and price shocks: an empirical analysis

This paper outlines a new technique, which makes optimal control in a stochastic minimum variance framework computationally feasible. The new approach is then used to evaluate gains to policy coordination in the context of a macroeconometric model for the G-3. More specifically, we consider policy responses to a temporary price shock in a single country and in multi-country cases. The results show that coordination brings about a striking improvement in the overall control of inflation and a reduction in output costs.     

The Intraday Relation between NYSE and CBOE Prices

I extend the literature regarding price discovery across stock and option markets through an empirical model that allows information to flow through an error‐correction term and volatility. NYSE prices tend to lead CBOE prices by at least thirty minutes over the entire six‐year sample period. In addition, informed trading in the options market is revealed more strongly through persistence in volatility and the spillover of volatility to the stock market than it is through returns.     

Global hospital and operative costs associated with various ventral cavity procedures: a comprehensive literature review and analysis across regions

Abstract

Objectives: The aim of this literature review was to provide a comprehensive report on hospital costs, and cost components, for a range of ventral cavity surgical procedures across three regions of focus: (1) Americas, (2) Europe, Middle East and Africa (EMEA), and (3) Asia-Pacific.

Methods: A structured search was performed and utilized a combination of controlled vocabulary (e.g., “Hepatectomy”, “Colectomy”, “Costs and Cost Analysis”) and keywords (e.g. “liver resection”, “bowel removal”, “economics”). Studies were considered eligible for inclusion if they reported hospital-related costs associated with the procedures of interest. Cost outcomes included operating room (OR) time costs, total OR costs, ward stay costs, total admission costs, OR cost per minute and ward cost per day. All costs were converted to 2018 USD.

Results: Total admission costs were observed to be highest in the Americas, with an average cost of $15,791. The average OR time cost per minute was found to vary by region: $24.83 (Americas), $14.29 (Asia-Pacific), and $13.90 (EMEA). A cost-breakdown demonstrated that OR costs typically comprised close to 50%, or more, of hospital admission costs. This review also demonstrates that decreasing OR time by 30?min provides cost savings approximately equivalent to a 1-day reduction in ward time.

Conclusion: This literature review provided a comprehensive assessment of hospital costs across various surgical procedures, approaches, and geographical regions. Our findings indicate that novel processes and healthcare technologies that aim to reduce resources such as operating time and hospital stay, can potentially provide resource savings for hospital payers.     

Endorsers in Advertising: The Case of Negative Celebrity Information

Abstract

The use of celebrity endorsers is a popular executional device, but it is not without risk. The authors report three studies examining how negative information about a celebrity can affect the brand the celebrity endorses. Using an associative network model of memory as a theoretical framework, they considered four moderating variables: the size of the association set for the brand, the size of the association set for the celebrity, the timing of the negative celebrity information, and the strength of the associative link between the brand and the celebrity. In the first two studies, they used a fictitious but realistic celebrity endorser and in the third they used an actual celebrity. Negative information about a celebrity resulted in a decline in attitude toward the endorsed brand only for the fictitious celebrity. That general relationship was moderated in varying degrees by association set size, timing of the negative information, and the strength of the link between brand and celebrity.     

Inter-Organisational Alliances and the Importance of Accounting for Value in Kind Transactions: Exploring the Role of Formal Management Accounting Controls

This article examines the role of management accounting control practices in relation to inter-organisational alliances (IOAs) involving non-cash, 'value in kind' (VIK) transactions. The research is undertaken in the context of a retrospective case study of the Sydney 2000 Olympic Games which examines how SOCOG managed and accounted for over $360 million of VIK. The case study is based on both document study and interviews with individuals involved with this aspect of the Sydney 2000 Olympic Games. On combining previous research concerning both the lifecycle ( Das and Teng 2002 ) and the nature of formal accounting controls ( Dekker 2004 ) in IOAs, a lack of directly transferable expertise from traditional accounting practices in relation to the following aspects of the management and control of VIK – recognition, planning/budgeting, procedures/rules and performance monitoring – becomes evident. Given the potential economic significance of VIK transactions, this suggests a need for both further research and professional discourse in this area to ensure sufficient visibility of, and management planning and control for, VIK transactions.