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David Branham Sr. 《The Review of Black Political Economy》2008,35(4):129-146
Noting that only five African American coaches had been hired to lead National Football League (NFL) teams from 1989–2002,
Madden (J of Sports Econ, 5(1):6–19 2004) found that teams coached by African Americans in the NFL outperformed their counterparts in the regular season but were
significantly below average in the playoffs. This analysis, with data that includes nine African American coaches and extends
through 2007, reconfirms Madden’s finding that African American head coaches outperform their rivals in the regular season,
but also finds that African American coaches no longer suffer from poor playoff performance. Using fixed effects pooled cross
section time series models, this analysis confirms that teams with African American head coaches can expect more wins in the
regular season than their peers, other things equal. However, there is some evidence that as the pool of African American
coaching talent diminishes from additional hires their extraordinary performance may be slightly regressing. The playoff analysis
shows that that when controlling for seeding, organizational strength and regular season wins, African American coaches perform
at the same level as their counterparts.
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David Branham Sr.Email: |
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We present new evidence on debt covenant violation (DCV) consequences that have not previously been examined in the literature. In particular, we show that a DCV triggers significant information asymmetry and uncertainty on the part of shareholders and auditors as reflected in higher bid–ask spreads, return volatility, and audit fees. Further, these consequences occur even when lender‐imposed costs are relatively lower, consistent with the act of default itself triggering shareholder and auditor uncertainty. The results highlight costs to the firm of having bright‐line rules in contracts, and add to an understanding of the consequences of DCVs. 相似文献
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有个笑话如是说:足球比赛是22个需要休息的人在运动,几万个需要运动的人在休息。不太苟同。其实,22个人在挥汗如雨的时候,那几万个人也在大汗淋漓。 相似文献
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PERVIN K. SHROFF 《Contemporary Accounting Research》1995,12(1):41-55
Abstract. The weak correlation between accounting earnings and security returns documented by numerous empirical studies is an issue of concern in current accounting research. Given that price is determined not solely by accounting earnings but also by other sources of information about future earnings, this paper focuses on the relation between earnings and other information to understand the returns-earnings association. The analysis indicates that current earnings exhibit high explanatory power for returns if they correlate with expected future earnings (or with other information that reflects expected future earnings). A high price-to-earnings (P/E) ratio coupled with a high return on equity (ROE) can ex ante indicate earnings growth, and the earnings of firms with these attributes are positively correlated with future earnings. The high-growth subset obtains an impressive returns-earnings R2 of 31 percent and an earnings coefficient of 6.17, demonstrating that it is possible to identify firms whose earnings are strongly correlated with returns using a parsimonious set of firm characteristics. Résumé. La faible corrélation entre les bénéfices comptables et le rendement des titres de placement sur laquelle se sont penchés de nombreux auteurs d'études empiriques retient aujourd'hui l'attention des chercheurs en comptabilité. Le cours des titres étant déterminé non seulement par les bénéfices comptables mais aussi par d'autres sources d'information relative aux bénéfices futurs, l'auteur s'intéresse ici à la relation entre les bénéfices et d'autres renseignements, dans le but d'expliquer le lien entre rendement et bénéfices. L'analyse révèle que les bénéfices courants ont un pouvoir explicatif élevé à l'égard du rendement si ce dernier est en corrélation avec les bénéfices futurs prévus (ou avec d'autres renseignements indicateurs des bénéfices futurs prévus). Un ratio cours/bénéfice élevé associé à un rendement des capitaux propres élevé peut indiquer, ex ante, une croissance des bénéfices, et les bénéfices des entreprises qui possèdent ces caractéristiques sont en corrélation positive avec les bénéfices futurs. Le sous-groupe des entreprises à forte croissance obtient un R2 étonnant de 31 pour cent, résultat d'une analyse de régression du rendement par rapport aux bénéfices, et un coefficient de bénéfices de 6,17, ce qui démontre qu'il est possible de déterminer quelles sont les entreprises dont les bénéfices présentent une forte corrélation avec le rendement, lorsqu'on utilise un ensemble parcimonieux de caractéristiques des entreprises. 相似文献
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伴随当代传媒产业的蓬勃发展,暴力也成为影视艺术基本的叙事类型及消费主义文化日趋盛行的现实语境。"电视暴力"是作为"媒介暴力"的一个子概念存在的;从文化传播看电视暴力,其覆盖面大,且易于接触;电视暴力对受众特别是青少年的影响巨大而深刻。要从制作者、传播者和观众三个方面的自律出发,建立适应我国国情的影视分级制。 相似文献
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本文以一种新的方式使用了两部分模型方法,将医疗支出发生的过程分解为患病和治病两个子过程,利用中国健康与营养调查2000年的调查数据,研究了可能影响我国居民医疗支出的各种重要因素.回归分析结果显示:对患病影响最大的因素为所在省份、居住在城市或农村、是否有医疗保险;在给定已经患病的情况下,对治病支出影响最大的因素为病情严重程度、收入和居住地为城市或农村.最后,本文提出了一些有助于从宏观层面控制国家医疗费用和从微观层面更好地满足居民医疗需求的初步意见和建议. 相似文献
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Trade misinvoicing should be seen as an element of de facto capital account openness. Traditional explanations for trade misinvoicing??high custom duties and weak domestic economies??are less persuasive in a world of high growth emerging markets that have low trade barriers. We construct a 53-country data set over a 26?year span, covering both industrialized and developing countries, to study the phenomena of export and import misinvoicing. Capital account openness, differentials in interest rates, political stability, corruption, indebtedness and the exchange rate regime are identified as factors related to misinvoicing. 相似文献
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日本对外贸易竞争力分析 总被引:2,自引:0,他引:2
日本对外贸易经历了一个较长时期的发展之后,突然走向下坡路,在国际市场上的份额不断缩小。通过计算显示性比较优势指数,可以研究日本对外贸易竞争力变化的趋势和影响日本外贸竞争力的主要因素,如经济结构调整、对外投资和贸易条件等。我国应当汲取日本在贸易发展阶段的经验和教训,促进我国对外贸易合理、有序、健康发展。 相似文献
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《China Economic Review》2006,17(2):120-141
This paper examines the determinants of the profitability of China's local state enterprises. The investment share of non-state enterprises is found to be positively related to the profitability of regional SOEs. Openness measured by exports share in GDP is positively related to regional SOEs' profitability in all cross-sectional and most panel regressions. Debt ratio is negatively related to SOEs' profitability in most cross-sectional and panel regressions. The ratio of unhealthy assets to total assets is negatively related to the profitability in all cross-sectional regressions and is negatively but insignificantly related to the profitability in most panel regressions. 相似文献
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K. P. Goudswaard 《De Economist》1990,138(1):33-46
Summary This paper studies financing strategies which underlie the maturity structure of the public debt. Three important objectives for domestic public debt management are distinguished: interest cost reduction, economic stabilization and economic neutrality. The strategies which can be associated with these objectives are incorporated in a simple debt management model, which has been tested empirically for the case of The Netherlands. Variations in debt maturities between 1960 and 1985 appear to be related to changes in capital market conditions, investment preferences and expected real interest rates.I would like to thank Jakob de Haan, Victor Halberstadt, Robert Haveman, Jeroen Kremers, Gusta Renes, Ben van Velthoven and two referees for valuable comments. Research assistance by Marlies Pel is gratefully acknowledged. 相似文献
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The paper attempts to identify the determinants of inflation in India in a multivariate econometric framework using quarterly data from Q1: 1996–1997 to Q3: 2013–2014. The identified determinants of domestic inflation such as crude oil prices, output gap, fiscal policy and monetary policy, and their relation with inflation is studied in a structural vector auto regression (SVAR) model. Further, the temporal changes in inflation dynamics are analyzed using a time varying parameter SVAR model with stochastic volatility. It was found that inflation dynamics in India have changed over time with various determinants showing significant time variation in the recent years, particularly after the global financial crisis. 相似文献