A Bayesian Net Benefit Approach to Cost‐effectiveness Analysis in Health Technology Assessment

The economic literature on cost‐effectiveness analysis in the context of decisions by health technology assessment agencies assumes as the quantity of interest a linear combination of the mean of the sampling distribution of the effectiveness and the cost. We argue that this is not always reasonable. Our reasons for this assertion are that (i) treatments are compared on the basis of mean values, and for some useful models the mean of the distribution of the cost, which is conditional on the available data, does not exist, and (ii) even for models for which the mean does exist, it might not constitute an accurate reflection of the distribution. This paper presents a general Bayesian cost‐effectiveness analysis of a single treatment, where the quantity of interest is the distribution, conditional on the data, of the net benefit. This approach permits a natural extension to several treatments, which enables us to make a statistical comparison. Illustrations with treatment comparisons for real and simulated data are given.     

Development of accounting regulation in Jordan

This study examines the development of accounting regulation in Jordan with emphasis on the dominant environmental factors that influence it. In order to have a better understanding of Jordan's present accounting practices, and its future development tendencies, we examine the path of accounting in Jordan since the early days of the nineteenth century, and analyze how Jordan's accounting environment — political, economic, legal and cultural — influenced the development of accounting in Jordan. We also examine Jordan's recent move towards full adoption of International Financial Reporting Standards (IFRS) and find that Jordan's colonial past has exerted a strong influence. In addition, we conclude that political and economic factors, through privatization and the resulting accounting reforms, contributed more to the development of accounting practices than other environmental factors. Privatization led to reforming Jordan's disclosure regulation and laying down of the corporate-governance policy framework. Our conclusions could be of interest to other countries, particularly developing countries, who want to improve the quality of their accounting disclosures and practices.     

国际贸易实务课程改革之研究

国际贸易实务课程是财经类高校国际贸易专业的主干课程,它具有很强的理论综合性和实践操作性。然而,传统的教学模式忽视了国际贸易实务课程的实践性特点,因此,对国际贸易课程进行全方位的改革势在必行。     

公司取得自己股份制度的比较研究

我国的公司立法起步较晚,现行有关公司取得自己股份制度只有一般原则性的条款规定,可操作性不强,明显滞后实践的要求,然而世界发达国家的立法例对其都有详尽的规定,只是在具体的制度设计上各有不同。因此本文力图契合我国实际,运用比较的研究方法,以期全面地了解该制度,并对我国公司立法有所启示。     

国际能源安全策略分析——从比较的角度

随着国际局势的日益紧张,各国的国际利益链条更加复杂化,能源更是在这一链条中扮演着重要的角色。能源战略和能源政策的科学制定和实施,不仅关系到一国国内的经济发展和国防安全,也极大地影响着一国在世界舞台中的国际地位,因此,研究国际能源战略确有必要。本文首先分析了中国目前的能源现状,通过比较研究不同国家的能源战略和能源政策,为中国能源战略和能源安全政策的进一步科学化提出了建议。     

海岛旅游研究新进展对海南国际旅游岛建设的启示

我国海岛旅游已有良好的发展态势,相关研究文献也日益丰富,但海岛旅游研究尚未形成一个比较完整的体系。以国务院44号文件为标志,海南国际旅游岛建设已成为国家发展战略,但关于海南国际旅游岛建设的理论研究在很多方面尚需深入分析。文章通过分析国内外海岛旅游研究新进展,来探讨对海南国际旅游岛建设理论研究和实际工作的启示。     

国际主动式套利行为机理及中国应对策略

在套利成本的约束下,简单的国际套利行为难以直接发生,国际套利者可能采取主动式套利行为创造缺口、实现套利。近年来,人民币升值、流动性过剩、通货膨胀、大宗商品价格的快速变化等种种现象,背后都存在着国际主动式套利行为的作用力。本文通过构建国际宏观因素模型,并在此基础之上引入因素冲击行为这一概念来描述主动式套利行为;再通过相应的博弈分析,来揭示国际主动式套利行为的内在机理,并对主动式套利行为存在的可能性作出证明;通过分析当前中国潜在的主要国际主动式套利风险,进而深入探究中国应对国际主动式套利行为的策略。     

A Functional Approach to International Channel Structure and the Role of Independent Wholesalers

The functional approach to the design of marketing channels has a long history in the marketing literature. In more recent years, the functional approach has been all but forgotten as the transactions cost approach has come into fashion. Yet, the functional approach offers severl significant advantages over transactions cost analysis, especially when the number of functions is condensed. Using a succint summary of the functions, produced through factor analysis, this paper examines the relationship between the functional performance capabilities of U.S. wholesalers used in the channel structure of foreign manufacturers. A statistically significant relationship was found, thus providing evidence of the role of functions in determining channel structure.     

Understanding Trade Balances and Reciprocity in Global Telecom Between Asia and the United States (1984–2000)

ABSTRACT

From 1982 to 1997, the balance of trade deficit for U.S. telecommunications services increased tenfold. In the years since that time, the increase became less dramatic and eventually began to decline due to global deregulation and privatization efforts, as well as to multilateral agreements forged by most major countries. The countries of Asia contributed greatly to this increase and have also been examples of the reversal of the balance of trade deficit in recent years. Our analysis identifies partner reciprocity as a core issue of the international long-distance industry. We integrate various literature streams to better understand the issue of international reciprocity in service industries. Furthermore, we identify the trends in global telecom that explain the historical imbalanced reciprocity period between 1984 and 1997 and the more recent period where a more balanced reciprocity has existed between the United States and the Asian region.     

Valuation impact of currency crises: Evidence from the ADR market

This study analyzes American depository receipts (ADR) performance surrounding the outbreak of major currency crises during the past decade. By employing event-study methodologies and multifactor pricing models, we find that the outbreak of a currency crisis is accompanied by a negatively significant abnormal return for the corresponding ADRs, even after controlling for variations in exchange rates. We also find significant upward shifts in the exchange rate exposure of ADRs when the home currency is switched from a “pegging” to a “floating” exchange rate regime. In addition, ADR-originating firms with larger sizes, greater proportions of U.S. market activities, and greater market liquidity have relatively less negative abnormal returns (ARs) and less significant upward shifts in currency exposure, implying that such firms are relatively better hedged against currency crises.