Many believe that international trade barriers in rich nations help low‐skill workers. Also, the empirical endogenous protection literature strongly implies that protection decreases with skill levels. This paper presents evidence against this conventional wisdom. Regressions based on a political economy model with search frictions and unemployment imply that protection and skill levels actually have a mound‐shaped relationship: industries with skills in the middle range get more protection than industries at either end of the distribution. Apparently, the politics of trade policy trump social concerns, rendering protection less “progressive” than is commonly believed. 相似文献
In addition to explicit contracts, corporations issue their stakeholders implicit claims, including fair treatment of employees and the promise of continuing service to customers. Corporate value is created by selling these implicit claims for more than it costs to honour them. Recently, a new class of non-investor stakeholders, related to environmental, social and governance (ESG) issues, has arisen. Although many ESG advocates stress their role in creating shareholder value, they do not explain how this value creation occurs. This paper shows that implicit claims provide a critical link that ties non-investor stakeholders and ESG to shareholder value, both its creation and its possible destruction. 相似文献
Marketing Letters - Diversity serves to enrich decision-making, innovation, reputation, and performance. The marketing academy, a microcosm of business and society, is making slow advances in... 相似文献
Although the government of South Africa (SA) has formally adopted a policy of proactive support of entrepreneurship, providing business assistance to all of its entrepreneurs is beyond SA’s financial and human resource capabilities. This study utilizes the results of an in‐depth survey of entrepreneurs in SA’s townships to find: (1) The business and owner traits that predict revenues and job creation among the township entrepreneurs, (2) The key issues that challenge township entrepreneurs; and (3) What the answers to these issues imply about the appropriate content and recipients of business assistance to township entrepreneurs. A distinction is helpful in framing this study’s approach. In SA, registered (licensed) businesses are legally formal firms. In contrast, economically formal firms have institutionalized processes that lead to success as a profit‐making firm. We use this distinction in our analysis of the data and framing of the implications for business assistance strategy in SA.相似文献
Background music captures attention, evokes images, and creates ambience, but may interfere with processing of advertised messages, reducing recall. Brains are hardwired to process unexpected background sound changes first, automatically preempting processing of brand message elements and reducing recall. The degree of this recall reduction depends on the structural characteristics of the music, as well as the advertised brand. Backgrounds with more frequent harmonic and textural changes create more frequent distraction, reducing message recall. Faster tempos increase the frequency of those distractions. However, faster tempos also enable streaming of like distractions, improving message recall. In Experiment 1, backgrounds, varying in harmonic, textural, and temporal characteristics, were compared across ads for six brands. Message recall was higher for ads with backgrounds with less‐frequent change. Message recall from ads for new, unfamiliar brands suffered more from background music interference than from ads for established brands. In Experiment 2, background change frequency was reduced in two ads, holding all else constant, which improved message recall. 相似文献
We analyze the relation between antitakeover provisions (ATPs) and the performance of spin-off firms. We find that firms protected by more ATPs before spin-offs have higher abnormal announcement returns and greater improvements in post-spin-off operating performance than firms with fewer ATPs. Further, firms that reduce the number of ATPs after spin-offs have greater improvements in operating performance than firms that do not reduce the number of ATPs. Finally, CEOs of pre-spin-off firms tend to retain more ATPs in parent firms and assign fewer ATPs to the spun-off units if they remain as the CEOs of the parents but not the spun-off units. Overall, our results indicate a positive relation between ATPs and the value gains to spin-offs. 相似文献
The authors examine how the practice of personal selling and sales management is changing as a result of the increased attention
on long-term, buyer-seller relationships and identify some implications of these changes. Changes in the traditional personal
selling and sales management activities are needed to support the emergence of the part-nering role for salespeople. For salespeople
in the part-nering role, the personal selling shifts from a focus on influencing buyer behavior to managing the conflict inherent
in buyer-seller relationships. The emphasis on building relationships rather than making short-term sales and the use of sales
teams dictates changes in the way firms select, train, evaluate, and compensate salespeople and members of sales teams. In
this article, the authors have suggested some issues concerning the emerging partnering role for salespeople that deserve
the attention of scholars interested in personal selling and sales management research.
Barton A. Weitz is the J. C. Penney Eminent Scholar Chair in Retail Management at the Warrington College of Business Administration at the
University of Florida. He received his Ph.D. from Stanford University and his research interests are in the areas of personal
selling effectiveness, salesperson motivation, and channel relationships. His research has been published in theJournal of Marketing, theJournal of Marketing Research, Marketing Science, theJournal of the Academy of Marketing Science, andAdministrative Science Quarterly. He has coauthored two textbooks,Selling: Building Relationships andRetail Management.
Kevin D. Bradford is an assistant professor of marketing at the University of Notre Dame. He received his Ph.D. from the University of Florida.
His research interests include issues in buyerseller relationships and increasing salesperson effectiveness. 相似文献
We survey textbooks from agricultural economics and other subject matter areas to determine their treatments of the returns-to-assets versus returns-to-equity methods for determining the net present value of investment projects. Textbook authors disagree about the appropriate method, often give conflicting advice as to how a given method should be applied, and do not show how the results of the two methods can be reconciled. We provide a consolidated discussion of the circumstances under which the two methods produce the same net present value. 相似文献
Standard optimal portfolio selection models take no account of the special information that active investors believe they
possess. For example, active investors who believe they can place bounds on the price of a security will want to use that
information when assessing risk and expected return in order to construct an optimal portfolio. In this paper, we use two
continuous-time models to analyze how placing boundaries on the price of a stock affects assessed risk, expected returns,
and the optimal holdings of an active investor, and how those vary as a function of the relation between the stock price and
the boundaries. In particular, the optimal strategy takes significant long/short positions as the price nears its lower/upper
boundary. 相似文献
Background: Sarcoidosis is a multi-system inflammatory disorder characterized by the presence of non-caseating granulomas in involved organs. Patients with sarcoidosis have a reduced quality-of-life and are at an increased risk for several comorbidities. Little is known about the direct and indirect cost of sarcoidosis following the initial diagnosis.Aims: To provide an estimate of the healthcare resource utilization (HCRU) and costs borne by commercial payers for sarcoidosis patients in the US.Methods: Patients with a first diagnosis of sarcoidosis between January 1, 1998 and March 31, 2015 (“index date”) were selected from a de-identified privately-insured administrative claims database. Sarcoidosis patients were required to have continuous health plan enrollment 12 months prior to and following their index dates. Propensity-score (1:1) matching of sarcoidosis patients with non-sarcoidosis controls was carried out based on a logistic regression of baseline characteristics. Burden of HCRU and work loss (disability days and medically-related absenteeism) were compared between the matched groups over the 12-month period following the index date (“outcome period”).Results: A total of 7,119 sarcoidosis patients who met the selection criteria were matched with a control. Overall, commercial payers incurred $19,714 in mean total annual healthcare costs per sarcoidosis patient. The principle cost drivers were outpatient visits ($9,050 2015 USD, 46%) and inpatient admissions ($6,398, 32%). Relative to controls, sarcoidosis patients had $5,190 (36%) higher total healthcare costs ($19,714 vs $14,524; p?0.001). Sarcoidosis patients also had significantly more work loss days (15.9 vs 11.3; p?0.001) and work loss costs ($3,288 vs $2,527; p?0.001) than matched controls. Sarcoidosis imposes an estimated total direct medical cost of $1.3–$8.7 billion to commercial payers, and an indirect cost of Background: Sarcoidosis is a multi-system inflammatory disorder characterized by the presence of non-caseating granulomas in involved organs. Patients with sarcoidosis have a reduced quality-of-life and are at an increased risk for several comorbidities. Little is known about the direct and indirect cost of sarcoidosis following the initial diagnosis.
Aims: To provide an estimate of the healthcare resource utilization (HCRU) and costs borne by commercial payers for sarcoidosis patients in the US.
Methods: Patients with a first diagnosis of sarcoidosis between January 1, 1998 and March 31, 2015 (“index date”) were selected from a de-identified privately-insured administrative claims database. Sarcoidosis patients were required to have continuous health plan enrollment 12 months prior to and following their index dates. Propensity-score (1:1) matching of sarcoidosis patients with non-sarcoidosis controls was carried out based on a logistic regression of baseline characteristics. Burden of HCRU and work loss (disability days and medically-related absenteeism) were compared between the matched groups over the 12-month period following the index date (“outcome period”).
Results: A total of 7,119 sarcoidosis patients who met the selection criteria were matched with a control. Overall, commercial payers incurred $19,714 in mean total annual healthcare costs per sarcoidosis patient. The principle cost drivers were outpatient visits ($9,050 2015 USD, 46%) and inpatient admissions ($6,398, 32%). Relative to controls, sarcoidosis patients had $5,190 (36%) higher total healthcare costs ($19,714 vs $14,524; p?<?0.001). Sarcoidosis patients also had significantly more work loss days (15.9 vs 11.3; p?<?0.001) and work loss costs ($3,288 vs $2,527; p?<?0.001) than matched controls. Sarcoidosis imposes an estimated total direct medical cost of $1.3–$8.7 billion to commercial payers, and an indirect cost of $0.2–$1.5 billion to commercial payers in work loss.
Conclusions: Sarcoidosis imposes a significant economic burden to payers in the first year following diagnosis. 相似文献