The Wealth Effects of Sale and Leasebacks: New Evidence

This paper investigates the phenomenon of sale and leasebacks as one way in which firms may use financial contracts to rearrange their organizational architecture. A theoretic model links the length of initial leaseback period to incentives to make noncontractible future investments in the lease relationship and predicts that firms choose shorter leases when landlords make relatively important investments. Using a sample of 71 sale and leaseback events from the 1990s, we document a significant mean abnormal return of 1.3% for shareholders of seller/lessee firms announcing relatively short leasebacks. The evidence suggests that firms may use sale and leasebacks to optimize their claims to real estate.     

Potential implications of COVID-19 on the Canadian pork industry

Canada and the United States have strong economic ties and form part of an integrated North American pork industry. Canada's pork industry is export-oriented, and the United States represents a key market for both live pigs and pork. Pork value chain stakeholders include input suppliers, pig producers, transportation companies, slaughter plants, wholesalers, and retailers. There are three overriding areas of concern for the Canadian pork industry with respect to potential impacts of the current pandemic (COVID-19). The first is Canada/US trade and the ability to continue exporting Canadian live pigs and pork to the United States. The second is labor and the impact of potential absenteeism on all sectors of the pork value chain. The third is global trade, because Canada's pork industry relies heavily on exporting pork to markets around the world.     

What Are the Prospects for Live Streaming?

On January 16,New Culture,a listed company that had just announced cooperation with live streamer Li Jiaqi,saw its stock price hit up to the limit when the market opened.Early trading hours saw the trading of over 1.15 million transactions,and at the closing hour there were also over 700,000 transactions waiting to be executed.     

The unique predictive ability of sex-role identity in explaining women's response to advertising

This study explores and compares the separate contributions of masculinity, femininity, and androgyny in explaining women's response to modern and traditional sex-role portrayals in print advertisements. It also considers whether sex-role identity captures unique predictive information above and beyond specific demographic variables. This study consisted of a field experiment among 200 adult women; each respondent was exposed to several carefully prepared print ads. The findings suggest that sex-role identity is a useful predictor of women's response to advertisements. Moreover, masculinity is the driving force in explaining women's response to the tested ads. Androgyny, however, adds no incremental predictive ability. The findings indicate that sex-role identity does capture new information, unexplained by specific demographic variables. © 1994 John Wiley & Sons, Inc.     

Alternative measurement approaches to consumer values: The list of values and the rokeach value survey

Two methods of measuring consumer values, the List of Values and the Rokeach Value Survey, are compared. Both involve some social desirability responding but both have convergent, discriminant, and empirical validity for consumer research. The List of Values may be preferable for some types of research because it detects more daily influence in people's lives and because it is simpler to administer.     

The Japanese Example of Indirect Vouchers

The producer controlled relative mediocrity of schooling in the West makes a stark contrast with the high standards of education in Japan where the consumer is supreme. Professor Richard Lynn, of the University of Ulster, calls for the fillip of competition to improve standards by extending parental choice.