The Effects of Psychobiological Motivational Traits on Memory of In‐Game Advertising Messages

This study examined the influence of psychobiological motivational traits related to individual approach and avoidance tendencies on cognitive processing of in‐game advertising. Participants played a custom‐built video game containing billboard advertisements. After playing the game, participants’ approach, positivity offset (PO), and avoidance, negativity bias (NB), traits were measured using the motivation activation measure (MAM). Recognition and recall memory were greater for high PO and low NB trait individuals. The findings of this study imply that advertising in first‐person‐shooter (FPS) video games may be most effective when targeting individuals with simultaneously high PO and low NB, risk takers, but least effective for those with low PO and high NB, risk avoiders.     

Correlation estimation using components of Japanese candlesticks

Using the wick’s difference from the classical Japanese candlestick representation of daily open, high, low, close prices brings efficiency when estimating the correlation in a bivariate Brownian motion. An interpretation of the correlation estimator given in [Rogers, L.C.G. and Zhou, F., Estimating correlation from high, low, opening and closing prices. Ann. Appl. Probab., 2008, 18(2), 813–823] in the light of wicks’ difference allows us to suggest modifications, which lead to an increased efficiency and robustness over the baseline model. An empirical study of four major financial markets confirms the advantages of the modified estimator.     

Examining bank SEOs: Are offers made by undercapitalized banks different?

Despite extensive monitoring, banking operations are often considered opaque, and despite explicit capital adequacy regulation, banks may have substantial discretion in their financing. Both monitoring and capital regulation have changed substantially over time, with the adoption of FDICIA being one important breakpoint. This article empirically studies seasoned equity offerings (SEOs) by banks to understand how opacity and capital regulation interact to determine the timing of bank SEOs and their market valuation. SEOs both by banks that are undercapitalized relative to regulatory standards and also well-capitalized banks are fully discretionary when it comes to SEOs, even before FDICIA. Both undercapitalized and well-capitalized banks experience similar and significantly negative stock price reactions to SEO announcements, and also have similar prior patterns of insider trading and similar economic drivers of the issuance decision. Moreover, post-SEO abnormal stock returns are similar to benchmark returns for both types of issuers in the long run, suggesting that, contrary to the well-documented evidence for industrial SEOs, investors understand the value implications of bank SEOs upon announcement. The evidence implies that undercapitalized banks' SEOs are more discretionary and that all bank SEOs are less opaque than implied by earlier studies.     

Price and quality components of imports of food products into the UK

This paper analyses the principal factors responsible for the growth in the value of imports of the UK food sector, during the period 1985-90. On the basis of estimates of translog multilateral price indices it assesses the relative contribution of changes in the quality of imported products and factors other than quality to growth in import values of food products. The main conclusion is that growth in quality appears to be the principal reason for the growth in unit values of imports and the trade deficit incurred by the food manufacturing sector.     

How Productive Is Workplace Health and Safety?

In this paper, we investigate the causal impact of workplace health and safety practices on firm performance, using Danish longitudinal matched employer–employee data merged with unique cross‐sectional representative firm survey data on work environment conditions. We estimate standard production functions, augmented with workplace environment indicators, addressing both time‐invariant and time‐varying potentially relevant unobservables in the production process. We find positive and large productivity effects of improved physical dimensions of the health and safety environment, specifically, “internal climate” and “monotonous repetitive work”.     

The global markets of renewable energy sources and the national interests of Russia

The current state and the prospects of the use of renewable energy sources (RES) in the world, their total and technical potential and fields of application, and their advantages and disadvantages in comparison with fossil kinds of fuel are considered. Special attention is given to nonconventional RES. The reasons why Russia is lagging behind in the use of these sources are analyzed.