Examining the formation of human capital in entrepreneurship: A meta-analysis of entrepreneurship education outcomes

Effective human capital formation through the medium of entrepreneurship education and training (EET) is of increasing concern for governments, as EET is growing rapidly across the world. Unfortunately, there is a lack of consistent evidence showing that EET helps to create more or better entrepreneurs. We undertake the first quantitative review of the literature and, in the context of human capital theory, find that there is indeed support for the value of EET. Based on 42 independent samples (N = 16,657), we find a significant relationship between EET and entrepreneurship-related human capital assets (r_w = .217) and entrepreneurship outcomes (r_w = .159). The relationship between EET and entrepreneurship outcomes is stronger for academic-focused EET interventions (r_w = .238) than for training-focused EET interventions (r_w = .151). We find evidence of heterogeneity in many of our correlations, and recommend that future studies examine potential moderators to more clearly delineate EET effect sizes. We also find a number of methodological weaknesses among the studies analyzed and that those studies with lower methodological rigor are overstating the effect of EET. Recommendations to improve the quality of future work in the field are provided.     

An IMC Process Framework for a Communications-Based Services Marketing Model

Integrated marketing communications (IMC) has been presented and examined; and, it has been challenged recently by some researchers questioning its relevance. However, some practitioners and academics still embrace its use. Presented through a case study, this article complements and extends the work of others by showing the importance of attribute identification through comprehensive research. It suggests that the message may be the starting place for measurement of IMC. Senior managers should consider this study's proposed IMC process framework where the product focus or corporate mission statement is the first step for IMC brand message positioning to help improve both short-term and long-term sales and profits.     

Over-optimistic official forecasts and fiscal rules in the eurozone

Eurozone members are supposedly constrained by the fiscal caps of the Stability and Growth Pact. Yet ever since the birth of the euro, members have postponed painful adjustment. Wishful thinking has played an important role in this failure. We find that governments’ forecasts are biased in the optimistic direction, especially during booms. Eurozone governments are especially over-optimistic when the budget deficit is over the 3 % of GDP ceiling at the time the forecasts are made. Those exceeding this cap systematically but falsely forecast a rapid future improvement. The new fiscal compact among the euro countries is supposed to make budget rules more binding by putting them into laws and constitutions at the national level. But biased forecasts can defeat budget rules. What is the record in Europe with national rules? The bias is less among eurozone countries that have adopted certain rules at the national level, particularly creating an independent fiscal institution that provides independent forecasts.     

A Psychological Need – Product Attribute Approach for Television Programming

Television has given American businessmen the opportunity to communicate directly with all consumer segments. Although a great deal of effort has been expended in matching advertisements with TV shows, less effort has been spent on why persons watch specific shows. This article will offer an approach to the simultaneous investigation of the psychological need level of viewers coupled with the attributes of shows. The basic approach is to use canonical correlation analysis to identify the characteristics of consumers which are related to the attributes of shows. These characteristics can then be utilized in the program planning process.     

Trends in Total Advertising Expenditure In 10 Countries, 1970–1983: America,Australasia and the Far East

The use and relative effectiveness of comparative advertising has been extensively studied and reported on in the marketing and advertising literature. However, few studies have specifically dealt with this topic from the advertising practitioner's perspective. This paper reports the findings of an empirical investigation aimed at determining some of the factors and underlying perceptions contributing to American advertisers' and agency representatives' attitudes toward comparative advertising. Often-cited criticisms/concerns about comparative advertising as well as past and future plans to use a comparative format were specifically considered.     

Adjusting covariance matrix for risk management

The covariance matrix of asset returns can change drastically and generate huge losses in portfolio value under extreme conditions such as market interventions and financial crises. Estimation of the covariance matrix under a chaotic market is often a call to action in risk management. Nowadays, stress testing has become a standard procedure for many financial institutions to estimate the capital requirement for their portfolio holdings under various stress scenarios. A possible stress scenario is to adjust the covariance matrix to mimic the situation under an underlying stress event. It is reasonable that when some covariances are altered, other covariances should vary as well. Recently, Ng et al. proposed a unified approach to determine a proper correlation matrix which reflects the subjective views of correlations. However, this approach requires matrix vectorization and hence it is not computationally efficient for high dimensional matrices. Besides, it only adjusts correlations, but it is well known that high correlations often go together with high standard deviations during a crisis period. To address these limitations, we propose a Bayesian approach to covariance matrix adjustment by incorporating subjective views of covariances. Our approach is computationally efficient and can be applied to high dimensional matrices.     

The impact of the Self‐Sufficiency Project on the employment behaviour of former welfare recipients

Abstract The Self‐Sufficiency Project (SSP) was a Canadian randomized trial in which the program group had 12 months to find full‐time employment in order to qualify for a subsidy that roughly doubled their pre‐tax earnings for the next three years. We find evidence of significant impacts of SSP on non‐employment and employment durations. For the treated group, simulation results show an impact on the employment rate at 52 months after random assignment in the range of 7 to 11 percentage points; this is approximately a 25% increase in the employment rate compared with having no treatment in place.