Financial assistance for study abroad students: An economic analysis

This paper examines the scholarship payback policy embedded in a study abroad program. A full payback policy requires a student to return the whole amount of the scholarship should he fail to achieve a target post-program performance, whereas a partial payback policy requires a payback amount in proportion to the extent of the under-performance. It is found that, the university should adopt a fixed amount scholarship to maximize the average post-program ability. There is also an optimal partial payback policy.     

Assessing the value of short-term study abroad programmes to students

For many universities, students participating in short-term faculty-led programmes make up a large portion of the total study abroad population. In this article, we report the results of a unique choice experiment in which 1255 students were asked about their personal characteristics and their preferences for study abroad programme attributes. Using a random parameters logistic regression model, we find that students attitudes towards risk, their experience with international travel and their beliefs about whether study abroad would help them professionally were major determinants of whether a student expressed interest in studying abroad. We also estimate students’ willingness to pay for various programme attributes, including destination, programme duration, course type and the number of experiential learning activities. We find that the highest value programmes give students credit towards their major rather than towards the university core or as an elective and that they are 3–4 weeks in length rather than 2 or 6 weeks. Also, while students value more experiential learning activities per week, each additional trip adds less value with no additional value beyond four activities. Results are useful for practitioners interested in maximizing student participation while effectively managing study abroad budgets.     

Making part-time practice work--for all concerned.

Doctors are embracing reduced schedules. But issues such as call, overhead, productivity, and partnership remain.     

The impact of a study abroad programme on learning abilities and personality traits: evidence from a randomization

Personality traits are increasingly considered as a powerful predictor of socio-economic success as academic achievement. In this article, we exploit the random assignment of applicants to a programme in order to retrieve unbiased estimates of the impact of studying abroad on both cognitive and noncognitive abilities. Our findings suggest that secondary school students, especially those considered ‘more able’, benefited from a 1-month experience abroad, as it enhanced both personality traits and language proficiency.     

Performing an event study: An exercise for finance students

This exercise helps instructors teach students how to perform a simple event study. The study tests to see if stocks earn abnormal returns when added to the S&P 500. Students select a random sample of stocks that were added to the index between January 2000 and July 2015. The accompanying spreadsheet calculates cumulative abnormal returns and cumulative abnormal trading volume and plots them in separate graphs. Students are asked to analyze the data and draw conclusions. Through this exercise, students learn how to conduct an event study and determine if a statistically significant event has occurred.     

Dynamic analysis of British demand for tourism abroad

This paper investigates how preference endogeneity, in the form of habit persistence, can affect short-run and long-run tourism expenditure decisions. The proposed model is applied to British quarterly data over the period 1979–91 and the empirical results suggest that preference endogeneity appears to have an important effect. This has policy implications for countries competing for British tourist arrivals. The differences between the short-run and long-run price and budget elasticities which are implied by habit persistence are also investigated.     

好字当头求先行

好字当头、好字优先,这是科学发展观的基本要义和本质要求.好字当头求先行,就是在推动发展中强化好的意识、好的观念、好的要求、好的标准.     

产业选择:"走出去"战略决策之核心

我国发展海外投资的目标必须体现国家产业政策的客观要求,反映宏观经济的总体目标,也就是通过开展海外投资来带动本国产业结构的重组和优化。对外投资产业选择的标准一、具有比较优势的产业应当看到,我国在世界经济中具有一定的比较优势和竞争能力经过五十年的建设,我国建成了一个相对完备的工业体系,尤其是改革开放二十年来,我国轻工、纺织家电、重化工等加工业经过技术引进暨技术改造都具备了相当的竞争力,其中许多企业已经基本上与国际接轨,达到或初步达到国际中上游的水平。可以预料的是,在今后相当一段时期内,我国在中间技术的制造业中…     

One for all or all for one: Does the category captain play favourites

In the consumer packaged goods industry, category captain is the company (e.g., Pepsi) that retailers (e.g., Kroger) designate as the leader of an entire product category (e.g., carbonated beverages) and collaborate with to manage the product category through the process of category management. Much uncertainty exists about the consequences of category management. We use a unique data set on the ready-to-eat cereals category in which the retailer designated a category captain. In this paper, we find that category captain does not have more to gain in terms of market shares than other products within the ready-to-eat cereals category, alleviating antitrust concerns related to category management. In addition, we find that category captain increases the market share of products that are more price competitive, not necessarily that of its own products, which points to a category captain focusing on growing the category's market as it is incentivized to do so.     

中国高等教育投资风险和收益的实证研究

With the expanding of higher education in China from 1999, more and more youngsters are able to invest in higher education, resulting a high unemployment rate for higher education graduates and more and more graduates employed in non-graduate position, while the analysis upon risk and return to each level of high education is absent due to the limitation of dataset. The paper employs college students sample survey to research the determinants of all levels of higher education beginning wages, the probability to find an appropriate job in order to conclude the risks and returns to each level of higher education based on the wages growth rate and economic development. The research finds the return to master degree is the highest, but the risk is the lowest in China.      

Securing basic well-being for all

The purpose of this article is to examine the possibility of a social choice rule to implement a social policy for “securing basic well-being for all.” The article introduces a new scheme of social choice, called a social relation function (SRF), which associates a reflexive and transitive binary relation over a set of social policies to each profile of individual well-being appraisals and each profile of group evaluations. As part of the domains of SRFs, the available class of group evaluations is constrained by three conditions. Furthermore, the non-negative response (NR) and the weak Pareto condition (WP) are introduced. NR demands giving priority to group evaluation, while treating the groups as formally equal relative to each other. WP requires treating impartially the well-being appraisals of all individuals. In conclusion, this article shows that under some reasonable assumptions, there exists an SRF that satisfies NR and WP.     

InterpretingEconomic Justice for all as a pre-economic essay on merit wants

It is fruitful to interpret The Bishops' Letter, in line with Robbins' classic definition of economics, as being a pre-economic document that identifies some “given ends” for economists to accept, if only provisionally, in carrying out their economic analyses. Such an interpretation is entirely consistent with the view of their own work that the bishops expressed in their letter. This interpretation leads to treating The Letter as a document dealling with the moral and ethical issues involved in selection of social goals and with incorporating these goals into welfare economics by identifying them as merit wants (or goals). A society that does have merit goods among its goals cannot achieve its goals without public action. The bishops recognize this, but The Letter is by no means statist.     

"走出去"战略与中国金融安全

随着形势的发展,中国已经融入到了世界大市场中,并且越来越明显地受到国际经济环境变化的影响。事实表明,中国融入世界的步伐(包括金融业)越大,对金融市场的依赖和影响就越大。这也从另一侧面说明,中国的金融安全不容忽视。 不容忽视的金融安全 金融安全是指一国能够抵御国内外冲击,保持金融制度和金融体     

"走出去"配套金融机构的国际借鉴

一、世界各国官方对外投资配套金融机构概貌 如果对全球范围开展"走出去"配套金融业务的官方机构进行一番比较,可大致看出以下规律.     

Formalism, logic and reality: a Keynesian analysis

It is the purpose of this paper to elaborate on the argumentthat formalism is non-neutral; analyses which today would bedescribed as informal turn into something quite different whenformalised. The reasons for non-neutrality refer to the choiceof assumptions or axioms, the choice of method, the type oflogic employed and closure. Focusing on the last three of these,the paper addresses the question of how to move from resultsobtained with formal methods under conditions of closure tothe reality one is attempting to model. We explore the needfor provisional closure to analyse open systems and for a rangeof methods to complement formal modelling in the attempt tounderstand the complex reality of an economic system.     

Corporate governance and default prediction: a reality test

Default prediction has commanded the attention of researchers for at least 50 years. This paper addresses several testable hypotheses regarding the relations between corporate governance and default prediction. We employ the conventional logistic regression to provide empirical evidence from U.S. default data over the period of 2000 to 2015. Empirical results are consistent with the following notions: First, default firms are associated with high ownership concentration, low shareholder rights, low financial transparency and disclosures, and less board effectiveness. Second, in-sample and out-of-sample tests support the incremental contribution of corporate governance information on default prediction, when compared with the models involving just financial information.