Comparing variations in labor costs for two vs. one full-time nurse manager

Labor costs for two versus one full-time nurse manager were compared. Results revealed reductions in nursing costs per patient day. These results suggest that innovative models may hold promise as organizations struggle to retain nurses and decrease costs.     

Determinants of the corporate decision to capitalize interest

Until 1974, firms could choose, within GAAP, to capitalize or expense interest costs associated with capital expenditures. The predominant practice had been to treat interest as a period expense. However, in 1974, the Securities and Exchange Commission imposed a moratorium on further adoption of interest capitalization by non-regulated firms. This study empirically examines economic factors potentially influencing firms' decisions to expense or capitalize interest prior to the SEC moratorium. We hypothesize that the choice may be affected by (1) the existence of management compensation agreements tied to reported earnings, (2) debt covenant constraints, and (3) the political costs (for some firms) of reporting higher earnings.When compared to the control group, our findings are that (1) the frequency of explicit management compensation packages was not greater for the interest capitalization group, (2) firms with financial ratios closer to likely debt agreement constraints (on dividends, interest coverage, and leverage) tended to elect interest capitalization, and (3) other than the largest firms in the ‘politically sensitive’ petroleum refining industry, the larger firms were more likely to capitalize interest.     

Linking Product Development Outcomes to Market Valuation of the Firm: The Case of the U.S. Pharmaceutical Industry*

The purpose of this research was to examine empirically the effects of new product development outcomes on overall firm performance. To do so, first product development and finance literature were connected to develop three testable hypotheses. Next, an event study was conducted in order to explore whether the changes in the stock market valuation of firms are influenced by the outcomes of efforts to develop new products. The pharmaceutical industry was chosen as the empirical context for the present study's analysis largely because the gate‐keeping role played by the Food and Drug Administration (FDA) provides a specific event date on which to focus the event study methodology. As such, this study's events were dates of public announcements of the FDA decisions to approve or to reject the New Drug Applications submitted by the sponsoring firms. Consistent with the efficient market hypothesis, this study's results show that market valuations are responsive strongly and cleanly to the success or failure of new product development efforts. Hence, one of this study's key results suggests that financial markets may be attuned sharply to product development outcomes in publicly traded firms. This study also finds that financial market losses from product development failures were much larger in magnitude than financial market gains from product development successes—indicating an asymmetry in the response of financial markets to the success and failure of new product development efforts. Hence, another implication of this study's results is that managers should factor in a substantial risk premium when considering substantial new development projects. The present study's results also imply that managers should refrain from hyping new products and perhaps even should restrain the enthusiasm that the financial community may build before the product fully is developed. The effect on firm value is severe when expectations about an anticipated new product are not fulfilled. Managers in effect should take care to build reasonable and realistic expectations about potential new products.     

DEVELOPMENTS IN PUBLIC SECTOR PERFORMANCE MEASUREMENT: A PROJECT ON PRODUCING RETURN ON INVESTMENT METRICS FOR LAW ENFORCEMENT

This paper reports on a project concerned with developing a return on investment (ROI) performance metric for a law enforcement organisation. The paper's contributions are twofold. First, it addresses concerns in the literature about how different stakeholder interests are balanced in the development of performance measures. Second, it helps to remedy an oversight in the literature regarding the hybridisation of accounting and economic expertise, whereby cost benefit techniques and ROI combine to produce a metric of public sector achievements. By virtue of its law enforcement context the paper also discusses a further hybridisation where accounting, economics and criminology/law enforcement intersect.     

Validating HRSA's nurse supply and demand models: a state-level perspective

In addition to federal initiatives, solutions to the nursing shortage must also be devised at the state level. Understanding the timing and severity of the nursing shortage in a particular state is paramount to devising appropriate solutions In 2005, the Health Resources and Services Administration released new versions of the Nurse Supply Model and Nurse Demand Model designed to project the supply of RNs and demand for RNs, LPNs, and nurse aides in the United States through the year 2020. The process used by two state-level analysts to project nurse supply and demand in North Carolina using the HRSA models is described. The authors conclude that the models work well for state-level forecasting but that users should carefully assess the default data provided with the model against independent data sources specific to their states.     

Publishing in an Environment of Predation: The Many Things You Really Wanted to Know,but Did Not Know How to Ask

ABSTRACT

The purpose of this research note is to define and review the extent of “predatory¹1. Predatory an adjective of, relating to, or practicing plunder, pillage, or rapine; inclined or intended to injure or exploit others for personal gain or profit as in predatory pricing practices; living by predation, predaceous; adapted to predation. Source: (https://www.merriam-webster.com/dictionary/predatory#synonyms) To avoid connotative inaccuracies the authors intend to convey the construct predatory in its broader sense thereby striving toward denotative accuracy.” publishing process practices in academic journals in recent years. In addition, ascertaining what, if any, substantive damage can result from these practices. And to derive “warnings signs” for those embarking on the road to creating/distributing what they have learned. “Predatory publishing” is the charging of a fee or proving value in exchange for the publication of research material without providing the publication services an author would have reasonably expected such as peer review and editing to mention only a few. There is evidence that this “practice” has sadly grown in prevalence in recent years. Following a review of the literature and using case study methodology, it was found that damages in the case of one large publisher were estimated to be over $50 m, as per a court adjudication in the US. With open access publishing becoming more popular as a result of institutional, funder and national mandates, it is likely more authors could be tempted or even baited into making poor decisions and publishing their research articles in illegitimate journals, wasting funding resources and damaging their research reputations. These and other implications are considered, as well as enumeration of such behaviors with an eye toward fostering deterrence. Further research and actions that could mitigate the problems are outlined.     

On understanding mutual fund terminations

We examine the determinants of US mutual fund terminations and provide estimates of mutual fund hazard functions. We find that mutual fund termination correlates with a variety of fund specific variables as well as with market variables such as the S&P 500 index and the short-term interest rate. We also test the underlying assumptions of the semi-parametric Cox model and reject proportionality, thus calling to question the use of this model in forming estimates of mutual fund hazard functions. We find that different fund categories exhibit distinct hazard functions depending on the fund’s investment objectives.

水产养殖利益相关者立场及其对产业发展影响——基于美国和挪威的调查比较

在美国,水产养殖充满争议.其未来的发展取决于利益相关者的支持态度.本研究比较分析了美国和挪威水产养殖利益相关者在观念上的差别,并进一步探究了观念上的差别如何影响扶持水产养殖发展的决策.通过对这两个国家中主要水产养殖利益相关者和专家进行网上调查获得原始数据,并利用多项对数模型,发现所有的观点变量同水产养殖利益相关者愿意支持水产养殖业发展的可能性显著回归.从而我们发现:美国和挪威水产养殖业的政策制定者、监管者以及利益相关者的观点如何影响决策;美国和挪威之间在观念上存在差别;政策、实践和教育可以改变水产养殖利益相关者的观念.这些关乎美国和挪威水产养殖业发展的未来.