Disentangling Beta and Value Premium Using Macroeconomic Risk Factors

In this paper, we study the time-varying total risk of value and growth stocks. The objective is to investigate the contention that the market factor's ability to explain the value premium is limited. Inspired by Ferson and Harvey [1999], we revisit the role of the market beta in the presence of aggregate economic factors. We discuss the incorporation of aggregate economic conditions in the context of multifactor risk models and provide cross-sectional evidence on the relationship between average returns and postranking betas for book-to-market (BE/ME) sorted portfolios. We show that the ineffective role of the market beta can be altered by incorporating aggregate economic risk factors in the cross-sectional asset pricing tests of size and BE/ME sorted portfolios. No previous study provides such a decomposition of the cross-sectional role of the market beta in the presence of macroeconomic risk factors.     

The key issues and procedures of industrial marketing research

Industrial marketing research has failed to receive its due attention in marketing books and journals, even though the volume of transactions in industrial goods and services is more than twice that of consumer goods and services. This article provides a systematic and wide ranging review of the issues, procedures, and opportunities found in industrial marketing research.     

11. Population forecasting

Forecasts of future trends in population are as central to the contemporary pessimism about the future as they were to that of certain classical economists at the beginning of the 19th century. Here earlier forecasts are examined to see how the methodology has changed and if past performance justifies the placing of much confidence in contemporary forecasts. The emphasis is upon British and American experience and upon total population sizes (rather than age or sex breakdowns). A concluding section raises the question of today's world population situation and the context of The Limits to Growth population considerations.     

Dietary intake and the contribution of snacks among adolescents during the summer months

Abstract Adolescent diets are often cited as nutritionally inadequate, possibly because of their reported snacking habits. This study examined 48 adolescent diets using a 24-h diet recall and a 2-day food record during summer months. Total intake and snacks identified by the subjects were analysed for energy and nutrient content. Male and female subjects reported similar intakes of fat, cholesterol and sugar. Ninety-eight per cent of subjects reported at least one snack daily. Snacks contributed 25% to the total energy, vitamin C, calcium and magnesium intakes. Although these subjects were not adhering to national recommendations for fat and sugar, the snacks they consumed contributed positively to the nutrient content of adolescent diets.