The impact of group formation in a cooperative learning environment

Research indicates that cooperative learning (CL) has the potential to increase accounting student satisfaction without impairing the learning of technical material (Lancaster, K., & Strand, C. (2001). Using the team-learning model in a managerial accounting class: An experiment in cooperative learning. Issues in Accounting Education, 16(4), 549–567). This study investigates whether instructor-formed heterogeneous groups produce a more effective CL environment than student self-selected groups by measuring individual academic performance and perceptions. Results indicate the presence of a treatment interaction, implying that the best group composition may not be the same for all students. In some circumstances, higher ability students had statistically higher performance in more homogeneous groups. Lower ability students did better (not significant) in heterogeneous groupings. The majority of students gave high ratings to the impact of CL on learning and development of team skills. Students were only mildly interested in increasing the time spent in groups, indicating that they value both traditional teaching methods and CL.     

Extracting inflation expectations and inflation risk premia from the term structure: A joint model of the UK nominal and real yield curves

This paper analyses the UK interest rate term structure over the period since October 1992, when the United Kingdom adopted an explicit inflation target, using an affine term structure model estimated using both government bond yields and survey data. The model imposes no-arbitrage restrictions across nominal and real yields, which enables interest rates to be decomposed into expected real policy rates, expected inflation, real term premia and inflation risk premia. The model is used to shed light on major developments over the period, including the impact of Bank of England independence and the low real bond yield ‘conundrum’.     

Market reaction to takeover rumour in Internet Discussion Sites

We examine the market reaction to takeover rumour postings in the Hotcopper Internet Discussion Site (IDS). Results from the interday analysis show abnormal returns and trading volumes on the day before and the day of the posting. Results of the intraday analysis show abnormal returns and trading volumes during the 10 min posting interval and abnormal trading volume during the 10 min interval immediately preceding it. Sensitivity analyses indicate that the results are robust to concerns regarding potential confounds, credibility and bid–ask spread bias. Taken together, these findings are consistent with the market reacting to the posting of takeover rumours in IDS.     

Fiscal Realities for the State and Local Governments

The U.S. economic slump of 2008, as usual for all economic slumps, has taken a dramatic toll on state and local government revenues and budget surpluses. As predictable as this is when properly modeled, states in particular have been even less well prepared than normal. Therefore, it appears that government budget officers, policymakers and their economic advisors, and private-sector economists need help in understanding the external and internal drivers of budget outcomes. A primary goal of this study is to quantify the highly regular, cyclical revenue patterns that emerge when actual revenues are purified of legislated changes. This should assist policy formulation today—as states consider higher tax rates or borrowing—by promoting an understanding of what is temporary and what is permanent in the current revenue weakness. Moreover, if these lessons are learned, future revenue forecasting and budget planning at the state and local levels should be materially enhanced. A second goal is to examine the true sources of the exceptional expenditure growth that precluded the normal buildup of a solid surplus during the economic boom of 2003–2007. The principal culprit is shown to be state and local government pay inflation that has far exceeded private sector norms for the past three years rather than an exceptional medical care burden, as some might think.     

Estimating Congestion Costs and Segmenting Motivations for Recreational Festivals

This paper aims to evaluate the willingness to pay (WTP) of visitors to reduce congestion and to segment the market of visitors by motivations. A double-bounded dichotomous choice contingent valuation method and survival analysis are adopted to estimate congestion costs for tourists. Analysis of variance is used to test the satisfaction and the WTP of tourists among the segmented motivation groups. Exploratory factor analysis method is conducted to extract four major factorial dimensions, and cluster analysis was performed to identify the characteristics of visitors' motivations into three clusters. The average amount that a tourist is willing to pay to mitigate congestion is US$2.22. The most important market segmentation is the “pursuit of multiple goals”, which has the largest segment of the market. Festival managers need to mitigate overcrowding and identify the segmentation information to develop effective strategies and to refine advertising campaigns to attract more people.     

LABOUR FORCE PARTICIPATION, RACE AND HUMAN CAPITAL: INFLUENCE ON EARNINGS DISTRIBUTIONS ACROSS STATES

In this paper we analyze the level of income inequality across states in 1970 and 1980 for several demographic groups. Furthermore, we examine the impact of labor force participation (LFP), education and other variables on inequality. We find that for tshe whole population, states with high LFP by females are states with low income inequality. The same holds true for states with high LFP for men. When we disaggregate by race, the results are quite consistent for whites, but not for blacks. States with relatively high education levels are associated with high inequality levels for the white cohort and the whole population, but there appears to be no similar association between education and inequality across states for blacks.     

The governance of agro- and pharmaceutical biotechnology innovation: Public policy and industrial strategy

Multinational companies in the life science sector are heavily influenced by government policies and regulations and in turn attempt to influence these actors nationally and internationally. This paper focuses on recent and on-going research, principally on the agro-biotechnology and, to a lesser extent, on the pharmaceutical industries, covering the evolution of policy and regulation in Europe, how policies are influenced by stakeholder pressures and how policy in turn influences company strategies for product development. We focus particularly on new ‘governance’ agendas in Europe and consider the relative impacts of enabling, constraining, discriminating and indiscriminate policies on company strategies as part of our development of an integrated approach to policy and governance. We also consider changes in external operating environments for multinational companies and compare past histories and present pressures on agro-biotechnology and pharmaceutical companies. The paper argues, with evidence, that a more enabling and discriminating policy and regulatory environment can achieve public goals more efficiently and effectively, taking account of impacts on innovation, than more blunt policy instruments. This type of environment takes into account the resources and capabilities available to firms and research laboratories rather than relying on broad brush carrot and stick approaches.     

National and regional dose escalation and cost of tumor necrosis factor blocker therapy in biologic-naïve rheumatoid arthritis patients in US health plans

Objective:

This study examined the proportion and magnitude of dose escalation nationally and regionally among rheumatoid arthritis (RA) patients treated with TNF-blockers and estimated the costs of TNF-blocker therapy.

Methods:

This retrospective cohort study used claims data from US commercially-insured adult RA patients who initiated adalimumab, etanercept, or infliximab therapy between 2005–2009. Biologic-naïve patients enrolled in the health plan for ≥6 months before and ≥12 months after therapy initiation were followed for 12 months. Dose escalation was assessed using three methods: (1) average weekly dose?>?recommended label dose, (2) average ending dispensed dose?>?maintenance dose, and (3) average dose after maintenance dose?>?maintenance dose. Annual cost of therapy included costs for mean dose and drug administration fees.

Results:

Overall, 1420 etanercept, 874 adalimumab, and 454 infliximab patients were included. A significantly lower proportion of etanercept-treated patients had dose escalation using the average weekly dose (3.9% vs 21.4% adalimumab and 69.6% infliximab; p?p?p?Limitations:

Exclusion of patients not on continuous TNF-blocker therapy limits the generalizability; however, ～50% of patients were persistent on therapy for 12 months. The study population comprised RA patients in commercial health plans, thus the results may not be generalizable to Medicare or uninsured populations.

Conclusions:

In this retrospective study, etanercept patients had the lowest proportions and magnitudes of dose escalation across all methods compared to adalimumab and infliximab patients nationally and regionally. Mean annual cost was lowest for etanercept-treated patients.