Derivatives Activity at Troubled Banks

Because of moral hazard associated with deposit insurance, troubled banks that have a relatively thin capital cushion to absorb losses have an incentive to take speculative positions. Thus, the prevalence of problem banks among those actively engaged in derivatives markets should be of concern to bank supervisors. However, we find no evidence that bank supervisors take into account, either favorably or unfavorably, the derivatives activities of troubled banks in their decisions to downgrade bank ratings or impose regulatory actions. The derivatives activity of troubled banks should raise the same concerns expressed about banks' on–balance-sheet positions, namely, that they may not be fully exploiting hedging opportunities or may be placing their remaining capital at risk, intentionally or unintentionally.     

Risk Management: Its Adoption in Australian Public Universities within an Environment of Change Management – A Management Perspective

This study draws on the multi‐theoretical approach to governance and a qualitative methodology to examine the extent to which key players in Australian public universities have developed and implemented risk management within an environment of change management. The findings demonstrate that wider influences – largely the result of conflicting management cultures – have had differing impacts on the values of key players and the consequent adoption of the process. Key players’ values range from congruent with a corporate culture (at the strategic level) to incongruent with a corporate culture (at the operational level), and result in different outcomes. These different outcomes suggest that the adoption of risk management by Australian public universities under the influence of new public management is problematic. The study provides opportunities for further research to confirm these findings with a broader sample of actors and the adoption of other governance control processes.     

Setting realistic expectations for publishing in leading accounting research journals

At most colleges and universities, an accounting academic's publication record is a primary consideration in promotion and tenure decisions. Many institutions encourage and expect faculty members to publish in leading accounting research journals. No longer limited to institutions with strong research orientations, these expectations often become an informal part of promotion and tenure guidelines at other colleges and universities. This article evaluates the use of such criteria in light of a five-year study (1978–1982) of several attributes of academics who have published in two leading research journals, The Accounting Review and The Journal of Accounting Research. The objective is to initiate dialogue and promote reasonable expectations among and between accounting faculty and administrators.     

Determinants of intra-industry trade: A longitudinal,cross-country analysis

Determinants of Intra-Industry Trade: A Longitudinal, Cross-Country Analysis. — This study examines the determinants of intra-industry trade (IIT using longitudinal data for 68 countries for 1970–1987. The analysis distinguishes between manufacturing and nonmanufacturing countries and compares traditional static estimates with dynamic ones. This approach permits distinctions between equilibrium and disequilibrium structures and, similarly, between historical and current sources of IIT. The results are generally supportive of IIT hypotheses, but there are important differences between manufacturing and nonmanufacturing countries and between the static and dynamic structures. Moreover, the extent of IIT appears to be dominated more by preference than by scale differentials, at least among manufacturing countries.     

美国人眼中的中国产品

美国标准咨询中心总裁 Mr.Joscph F.Ludford(约瑟夫 F·路德福特先生)在产品保证和系统工程领域有长达40年的技术和管理经验,曾于1998年及1999年两次来华作专题演讲,是我国政府认可的国际质量标准专家。他要揭开"中国产品如何被美国市场接受?"的谜底。     

Church Ministry and the Free Rider Problem:

A bstract Questions raised by the theory of collective action ate a point of departure for an analysis of the economic aspect of church ministry Church ministry is the supply of meaning validated through member commitment Churches select the demand for meaning validation they make on their members on a continuum ranging from "strict exclusiveness" to "lenient mclusiveness" Tensions which arise may be resolved through modality and sodality structures in symbiotic relationship with each other Various solutions to free rider problems are reviewed with emphasis being given to the formation of second order volitions and the provision of "in process" benefits Sen's distinction between sympathy and commitment is used to ascertain the primary motivation underlying three levels of giving to churches The State can preserve a "free market" in religion through the disestablishment of churches     

Making Reservations Online: The Impact of Consumer-Written and System-Aggregated User-Generated Content (UGC) in Travel Booking Websites on Consumers’ Behavioral Intentions

This study examines how consumer-written and system-aggregated user-generated content (UGC) on travel booking websites jointly influence consumer behavior. The purpose of this research is to test the effects of different types of UGC on various consumer behavior outcomes. Experiment 1 found a significant interaction effect between UGC type (consumer-written versus system-aggregated) and valence (positive versus negative) on product evaluation, perceived information value, and satisfaction. Experiment 2 found a significant interaction between consumer-written and system-aggregated UGC valences. When consumer-written UGC was negative, consumers demonstrated more negative product evaluation and lower buying intention, regardless of system-aggregated UGC valence. When consumer-written and system-aggregated UGC valences matched, consumers indicated greater perceived information value, satisfaction, and future behavioral intention. Trustworthiness partially mediated the effect of the fit between consumer-written and system-aggregated UGC on consumer satisfaction.     

Hard Bargains and Lost Opportunities

A long tradition in economics assumes that any potential gains from trade will be exploited. This emphasis on efficiency clashes with the possibility that hard bargaining over the division of the surplus may cause some potential deals to be lost. We examine an Outside Option Game designed to study the tension between maximising the size of the surplus and bargaining over the division of this surplus among those who contributed to its creation. An experimental study confirms that subjects often fail to achieve efficient outcomes. A theoretical model accounts for this behaviour in terms of an equilibrium achieved in an imperfect world     

Are urban land tenure regulations in Namibia the solution or the problem?

Land tenure in Namibia is regulated by a variety of Acts, some of which date back to as far as 1937, and some of which are yet to be approved by Cabinet. This variety of Acts makes it difficult to evaluate the performance of land administration as a whole, and the appropriateness of coercive instruments with regards to urban land tenure in particular. In this article we evaluate how urban land tenure regularization practices are conducted in Namibia, and to compare new formal procedures, designed to address problems of efficiency and efficacy, to older existing procedures, supposedly not efficient or effective. This evaluation uses a theoretical framework of Pritchett and Woolcock [Pritchett, L., Woolcock, M., 2004. Solutions when the solution is the problem: arraying the disarray in development. World Development 32 (2), 191–212], which deals with public service delivery and transaction-intensive services. Applying this framework for a comparative analysis of 5 different land subdivision practices – each relying on a different land-related act – we conclude that the degree of regulation and regularization is perhaps not so much a solution for urban land tenure problems but more of a problem in itself.