Direct and indirect effects of continuous treatments based on generalized propensity score weighting

This paper proposes semi- and nonparametric methods for disentangling the total causal effect of a continuous treatment on an outcome variable into its natural direct effect and the indirect effect that operates through one or several intermediate variables called mediators jointly. Our approach is based on weighting observations by the inverse of two versions of the generalized propensity score (GPS), namely the conditional density of treatment either given observed covariates or given covariates and the mediator. Our effect estimators are shown to be asymptotically normal when the GPS is estimated by either a parametric or a nonparametric kernel-based method. We also provide a simulation study and an empirical illustration based on the Job Corps experimental study.     

Linking organisational critical activities with business typology

This research aims to discover the connection between strategic typologies and organisational critical activities, and focuses on the organisational critical activities in three functional areas in high-tech organisations: ‘research and development’, ‘marketing’ and ‘manufacturing’. Research methods used include semi-structured interviews with 11 firms and 15 interviewees. And 34 participants were surveyed with analytic hierarchy process (AHP) questionnaires in Taiwan. The results show that organisations adopt different typologies tend to perform organisational critical activities differently to achieve success. Prospectors place more emphasis on ‘research and development’ related activities, Defenders focus on activities of ‘manufacturing and production related fields’, and Analysers care more about activities in ‘marketing related fields’. Defenders tend to pay more attention to activities relating to the manufacturing domain than Prospectors and Analysers. This research establishes a linkage between organisational critical activities and corporate strategy, and it could be useful for high-tech organisations to better manage their strategies.     

Detecting which firm-specific characteristics impact market-oriented R&D

This paper investigates which firm-specific characteristics lead multinational enterprises (MNEs) to increase their R&D expenditure in host countries as a way of expanding their business into local markets (market-oriented R&D). The literature that addresses this topic is quite limited because of the difficulty of separating market-oriented R&D expenditure from knowledge-sourcing R&D expenditure in the data. We argue that determining the relationship between local sales and R&D expenditure is a better way to identify whether MNEs are investing market-oriented R&D than is separating the two types of R&D. For connecting firm-specific characteristics, local-market sales, and R&D expenditure together, we adapt two-stage regressions. By employing data from Taiwanese multinationals from 2003 to 2006, we found that if an MNE moves its technology toward capital-intensive products, it increases its R&D expenditure to promote its sales in the local markets in the host country.     

Pricing and hedging of quanto range accrual notes under Gaussian HJM with cross‐currency Levy processes

This study analyzes the pricing and hedging problems for quanto range accrual notes (RANs) under the Heath‐Jarrow‐Morton (HJM) framework with Levy processes for instantaneous domestic and foreign forward interest rates. We consider the effects of jump risk on both interest rates and exchange rates in the pricing of the notes. We first derive the pricing formula for quanto double interest rate digital options and quanto contingent payoff options; then we apply the method proposed by Turnbull (Journal of Derivatives, 1995, 3, 92–101) to replicate the quanto RAN by a combination of the quanto double interest rate digital options and the quanto contingent payoff options. Using the pricing formulas derived in this study, we obtain the hedging position for each issue of quanto RANs. In addition, by simulation and assuming the jump risk to follow a compound Poisson process, we further analyze the effects of jump risk and exchange rate risk on the coupons receivable in holding a RAN. © 2009 Wiley Periodicals, Inc. Jrl Fut Mark 29:973–998, 2009     

Optimizing the Information Outsourcing Practices of Primary Care Medical Organizations Using Entropy and TOPSIS

As clinics strive to select information technology contractors that meet their particular outsourcing needs, the medical sector urgently needs evaluation criteria for outsourcing to information technology contractors to alleviate unnecessary risks and achieve an excellent performance. Therefore, this work presents an entropy combined technique for order preference by similarity to ideal solution (TOPSIS)-based decision-making method for clinics to objectively assess the quality of an information technology supplier when outsourcing their medical information needs, as an alternative to previous decision-making approaches based on subjective evaluations. Each sub-criterion for outsourcing vendors is evaluated using the Delphi method. Moreover, results of interviews with experts are integrated with the entropy method to calculate each criterion of an objective evaluation weight for medical information system (MIS) vendors. Furthermore, a TOPSIS-based survey is designed using comparison to effectively respond to MIS outsourcing demand scores for each item. Furthermore, the proposed entropy and TOPSIS-based decision-making method can provide administrators in hospital clinics with a decision-making and evaluation criteria that actively encourage the medical sector to outsource its information technology needs to contractors.     

Residents’ opinions on gaming activities and the legalization of soccer betting

Many Asian countries have an active gaming industry yet limited published information about the industry's development, operation, impact, or resident opinions is available. The purposes of this study were to examine residents’ opinions on various forms of gaming and to identify factors influencing their support for legalized soccer betting. Telephone interviews were undertaken with 449 Hong Kong residents. Respondents’ opinions were divided on most gaming issues, including the recently announced authorization of soccer betting. Soccer betting's association with potential economic benefits was the strongest indicator of respondents’ support for its legalization. Soccer betting proponents were generally more supportive of all other forms of gaming activities.     

Using a modified grey relation method for improving airline service quality

This study applies a modified grey relation method to improve service quality among domestic airlines in Taiwan. First, we replace the referential alternative (sequence) with an aspired alternative, which should better reflect the reality of today’s competitive markets. Second, because the compared alternatives do not usually have the same criteria/aspects, traditional methods are unsuitable to deal with them. Our model fixes this problem, allowing decision-makers to understand the gaps between alternatives and aspired levels in practice. Third, we develop a new ranking index to measure the airlines’ competitiveness in terms of service quality. To validate the effectiveness of our model, we conduct a large sample survey. We also provide managerial improvements needed by each carrier to achieve the aspired level of customer satisfaction.     

What Do Entrepreneurs Pay for Venture Capital Affiliation?

This study empirically evaluates the certification and value‐added roles of reputable venture capitalists (VCs). Using a novel sample of entrepreneurial start‐ups with multiple financing offers, I analyze financing offers made by competing VCs at the first professional round of start‐up funding, holding characteristics of the start‐up fixed. Offers made by VCs with a high reputation are three times more likely to be accepted, and high‐reputation VCs acquire start‐up equity at a 10–14% discount. The evidence suggests that VCs' “extra‐financial” value may be more distinctive than their functionally equivalent financial capital. These extra‐financial services can have financial consequences.     

The Effect of Organization-Based Self-Esteem and Deindividuation in Protecting Personal Information Privacy

In this research we apply the Theory of Planned Behavior (TPB) to study decisions related to information privacy protection. A TPB-based model was proposed to investigate whether organization-based self-esteem and perceived deindividuation can be employed to measure the strength of the perceived behavioral control construct. In addition, we examined if the addition of a causal path linking subjective norms to attitudes and another causal path linking organization-based self-esteem to subjective norms enhanced our research model's predicting power. Our study shows that information systems (IS) professionals' intentions to protect personal information privacy are influenced by their attitudes, subjective norms, perceived deindividuation, and organization-based self-esteem. It further shows that attitudes are influenced by subjective norms, which, in turn, are influenced by organization-based self-esteem.