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1.
This article contributes a case study of regulation of the design of India’s Prototype Fast Breeder Reactor (PFBR). This reactor is the first of its kind in India, and perceived by the nuclear establishment as critical to its future ambitions. Because fast breeder reactors can experience explosive accidents called core disruptive accidents whose maximum severity is difficult to contain, it is difficult to assure the safety of the reactor’s design. Despite the regulatory agency’s apparent misgivings about the adequacy of the PFBR’s design, it eventually came to approve construction of the reactor. We argue that the approval process should be considered a case of regulatory failure, and examine three potential factors that contributed to this failure: institutional negligence, regulatory capture, and dependence on developers and proponents for esoteric knowledge. This case holds lessons for nuclear safety regulation and more generally in situations where specialized, highly technical, knowledge essential for ensuring safety is narrowly held. 相似文献
2.
Ananth Rao 《International Review of Financial Analysis》2005,14(3):283-303
The paper investigated cost efficiencies and its relationship with risk-return behavior of banks in United Arab Emirates (U.A.E.). The major findings are that there were 10-25% inefficiencies in these banks under different cost specifications. On the risk-return front, lower liquidity and lower capitalization risks coupled with higher ROE significantly improved the cost efficiencies of the banks. Further, domestic banks were relatively cost efficient than foreign banks. These findings are useful to emerging market participants in their investment decisions, as also the policymakers and bank regulators to monitor inefficient banks in the context of revised Basel capital norms. 相似文献
3.
Avi Giloni Sridhar Seshadri Christopher L. Tucci 《Journal of Product Innovation Management》2008,25(5):491-507
Prior research into the link between new product development and market segmentation has focused on two main approaches: (1) design, segment, and do limited competitive evaluation; and (2) segment first, design second. This paper proposes a third approach, which is to simultaneously design, perform segmentation according to benefit and to evaluate against competitive designs. This research uses a benefit segmentation technique based on conjoint analysis (or other techniques that relate product attributes to consumer utility) in which the segments emerge simultaneously with the design based on certain design principles or “strategies.” Herein a method is proposed to narrow down the many possible feasible designs (combinations of attributes) to a finite set and to examine the appeal of each design. Five distinct design strategies are proposed for modeling and studying competitive reaction. These include “traditional” ones such as differentiation and new ones whose fringe customers have high utility. The paper shows that these five strategies are adequate for modeling competitive reaction using simulation. Another contribution of the paper is the way competitive reaction is modeled. In generating and evaluating a design the desire herein is also to assess the defensibility of the design and include it in the evaluation criteria. These issues are addressed by decomposing the solution procedure into two phases. In the first phase, different optimal designs are created based on predefined product development strategies. In the second, these optimal designs are compared against one another with regard to market share and potential to secure market leadership. This work shows that the nature of competition as well as the variability of customer preferences are critical to how a strategy performs. This process uncovers a surprisingly robust design strategy—developing attributes such that a “lower fringe” is most satisfied—that even achieves market dominance under certain conditions. This methodology is also applied to partworth data on refrigerators, which provides a concrete example of the concepts and demonstrates results consistent with the propositions developed earlier in the paper. 相似文献
4.
Engines of Liberation 总被引:6,自引:0,他引:6
Jeremy Greenwood Ananth Seshadri Mehmet Yorukoglu 《The Review of economic studies》2005,72(1):109-133
Electricity was born at the dawn of the last century. Households were inundated with a flood of new consumer durables. What was the impact of this consumer durable goods revolution? It is argued here that the consumer goods revolution was conducive to liberating women from the home. To analyse this hypothesis, a Beckerian model of household production is developed. Households must decide whether or not to adopt the new technologies, and whether a married woman should work. Can such a model help to explain the rise in married female labour-force participation that occurred in the last century? Yes. 相似文献
5.
Simon Seshadri 《Business ethics (Oxford, England)》1998,7(4):226-230
Since the Second World War, Japanese firms have gone from being ridiculed in the West for poor quality products to being highly praised and imitated for their success in manufacturing innovation, quality standards and management philosophy. Arguably, however, one area in which Japanese firms can be said to lag behind their western counterparts is in the development and articulation of policies mandating ethical business practices. In its own markets, but particularly abroad, Japanese business has been accused of a variety of ethical shortcomings, including racial and sexual discrimination, bribery, environmental irresponsibility and the flouting of local laws and customs. This article will consider the reasons for the apparent lag in conduct, examine the issues involved, consider the likelihood of imminent change and offer some personal observations on the subject. 相似文献
6.
Bidisha Chakrabarty Ananth Seetharaman Zane Swanson Xu Wang 《Financial Management》2018,47(3):583-616
Managers with higher risk incentives (greater options vega) issue less readable disclosures. Firms in the top quartile of vega file annual reports that are about 15.4% more voluminous than those in the bottom quartile. The effect of vega on obfuscation remains after controlling for firm risk, operating complexities, accounting and auditor choices, chief executive officer changes, and an exogenous shock to option compensation. This effect is tempered by higher institutional ownership, lower management entrenchment, and greater analyst following. Obfuscation benefits managers by increasing return volatility (option value) and allowing greater earnings management. These findings document a new link between options and disclosure transparency. 相似文献
7.
How do various forms of redistribution affect the distributions of earnings and consumption and their intergenerational mobility? Do redistributive policies enhance efficiency by mitigating market imperfections? Or do they create a trade-off between equity and efficiency? To address these issues, a dynamic general equilibrium model is constructed and solved numerically. The effects of the degrees of targeting of money transfers and educational transfers and the relative performance of the two types of transfers are examined. 相似文献
8.
Naresh Bansal Ananth Seetharaman Xu Wang 《Journal of Contemporary Accounting and Economics》2013,9(1):100-121
We investigate the association between risk-taking incentives provided by stock-based compensation arrangements and non-GAAP financial disclosures. Controlling for compensation to stock price sensitivity, we find that managers with higher compensation to stock volatility sensitivity (vega) are more likely to be associated with voluntary non-GAAP earnings information disclosures. In addition, higher-vega managers are found to be associated with more frequent and less opportunistic non-GAAP earnings information disclosures. Robust to alternative specifications and estimations, our findings suggest that compensation arrangements can encourage managers to make more, higher-quality voluntary non-GAAP disclosures. 相似文献
9.
Many would say that children are society's most precious resource. So, how should we invest in them? To gain insight into this question, a dynamic general equilibrium model is developed where children differ by ability. Parents invest time and money in their offspring, depending on their altruism. This allows their children to grow up as more productive adults. First, the efficient allocation is characterized. Next, this is compared with the outcome that arises when financial markets are incomplete. The situation where child-care markets are also lacking is then examined. Additionally, the consequences of impure altruism are analyzed. Journal of Economic Literature Classification Numbers: D1, D31, D58, I2. 相似文献
10.
This study examines the changes in US individual income tax progressivity over the 1986–2003 period using the indexes developed by [Kakwani, N.C., 1976. Measurement of tax progressivity: An international comparison. Economic Journal 87(March), 71–80]. Although progressivity over this time frame has generally been studied in the literature, we provide additional insights by decomposing the changes in index values to account for the effects of concurrent changes in the standardized tax rates, average tax rates, and the income distribution. The decomposition should prove to be particularly useful when different summary indexes lead to conflicting conclusions about progressivity changes, as is often the case. From a policy standpoint, we show that it is the standardized tax rates, a derivative of the legislated tax rates, which need to be monitored and managed to offset the negative progressivity effects of increasing before-tax income inequality. 相似文献