Bankruptcy dynamics in Japan

This paper attempts to enhance our understanding of macro aspects of bankruptcies in Japan. For this purpose, we estimate a vector autoregression comprised of three macroeconomic variables, two financial variables from the corporate sector and the bankruptcy rate, and construct its impulse responses. The estimation results generally show expected and consistent relationships between economic shocks and aggregate bankruptcies: in particular, a positive shock in the call rate clearly raises the bankruptcy rate. We also estimate industry-level models for manufacturing, construction, and wholesale and retail trade, the results of which show fundamental similarities, but differences as well, in the details by industry. We try to apply a standard framework for analysis aimed at establishing a clear benchmark for the study.     

More optimal designs for diallel cross experiments

It is shown that the complement of a universally optimal design derivable from a triangular design is again universally optimal in a class of connected designs. Furthermore, some series of universally optimal designs for diallel cross experiments are provided. These observations strengthen the result on universally optimal designs by Das, Dey and Dean (1998). Received: August 1999     

Optimality and efficiency of incomplete split-block designs

In this paper, a balanced incomplete split-block design (BISBD) is shown to be universally optimum for the estimation of the interaction effects with respect to each of the intra-plot stratum estimation and the GLSE. Furthermore, the efficiency factor of an optimal design is investigated.     

Bounds on the efficiency of the residual design of extended BIB designs

This gives a complete proof for bounds of the efficiency, conjectured by Das and Kageyama (1992), on robustness of extended balanced incomplete block designs against the unavailability of any number of observations in a block.     

Explaining the U-shaped life satisfaction: dissatisfaction as a driver of behavior

Journal of Bioeconomics - We assess the age profile of subjective well-being by adopting a bio-evolutionary perspective that dissatisfaction is a psychological incentive to prompt adaptive...     

Hospitality Bankruptcy in United States of America: A Multiple Discriminant Analysis-Logit Model Comparison

This study examines bankruptcy prediction of hospitality firms within U.S. equity markets. The article investigates whether the Logit model or the Multiple Discriminant Analysis (MDA) accurately predict bankruptcy, specifically it attempts to investigate how accurate Logit and MDA models are. Various key financial variables were utilized as predictors and contrasting samples of both bankrupt and non-bankrupt firms for the period 1992–2010 were used. In this analysis Statistical software SPSS 20 was utilized for the analysis. Results show that for the period 1992–2010, the MDA model outperformed the Logit model for overall bankruptcy prediction. Theoretical and practical implications were offered based on the results. The study is critical given the signi?cant number of hospitality enterprises being intensely impacted by the recent economic downturn. Consequently, the hospitality industry in United States demands higher degree of accuracy from bankruptcy prediction models to forecast economic failure.     

TypeS designs with nested rows and columns

Summary Supplemented balance in block designs with nested rows and columns is considered, under the name of typeS designs with nested rows and columns. Analysis and construction of such designs are also discussed.     

Nested balancedN-ary designs

Nested balancedn-ary designs are introduced. Some methods of construction of such designs are presented with some series of designs.     

A comparative study of the mode of domestic and transborder information flows including data

Information flow for point to point communications is carried by means of mail, telegram, telex. facsimile, telephone and data communications. The amount of information carried by these media was analyzed for Japanese and U.S. domestic communications, as well as for U.S.-Japan transpacific communications. The total domestic and international information flows are found to be closely related with the gross domestic product (GDP) and the gross international trade, respectively. The effects of technological innovation, service inauguration and regulatory events on the change of information flow are also found.