Do analysts who understand accounting conservatism exhibit better forecasting performance?

This study investigates the performance of analysts when they match the asymmetric timeliness of their earnings forecast revisions (i.e., asymmetric forecast timeliness) with the asymmetric timeliness of firms’ reported earnings (i.e., asymmetric earnings timeliness). We find that better timeliness‐matching analysts produce more accurate earnings forecasts and elicit stronger market reactions to their forecast revisions. Further, better timeliness‐matching analysts issue less biased earnings forecasts, more profitable stock recommendations and have more favorable career outcomes. Overall, our results indicate that analysts’ ability to incorporate conditional conservatism into their earnings forecasts is an important reflection of analyst expertise and professional success.     

A Content Analysis of Bonus Pack Promotions

Bonus packs created by manufacturers have been characterized by scholars as special factory packs offering the consumer extra product for the same price or at no additional cost. However, this portrayal may fail to fully capture what consumers actually encounter in stores during and following a bonus pack promotion. Indeed, little is known about the types of products that manufacturers promote as bonus packs and how offers for them are specified, how retailers price them, and also what happens when the offers are discontinued. To address these shortcomings, a content analysis is conducted. The results illustrate a richness to bonus pack promotions that previous views of the topic have not described.     

The cost-effectiveness of alectinib in anaplastic lymphoma kinase-positive (ALK+) advanced NSCLC previously treated with crizotinib

Introduction Anaplastic lymphoma kinase (ALK) targeting drugs provide an important option for advanced non-small cell lung cancer patients with this distinct tumor type; however, there is considerable uncertainty as to which drug provides the optimal value after crizotinib treatment. This study estimated the cost-utility of alectinib vs ceritinib from a US payer perspective.

Methods A cost-utility model was developed using partition survival methods and three health states: progression-free (PF), post-progression (PP), and death. Survival data were derived from the key clinical trials (alectinib: NP28761 &; NP28673, ceritinib: ASCEND I and II). Costs included drugs, adverse events, and supportive care. Utilities were based on trial data and the literature. One-way and probabilistic sensitivity analyses (PSA) were performed to assess parameter uncertainty.

Results Treatment with alectinib vs ceritinib resulted in increases of 2.55 months in the PF state, 0.44 quality adjusted life-years (QALYs), and $13,868, yielding a mean cost/QALY of $31,180. In the PSA, alectinib had a 96% probability of being cost-effective at a willingness-to-pay of $100,000/QALY. Drivers of model results were drug costs and utilities in the PF health state. The ICER ranged from $10,600–$65,000 per QALY in scenario analyses, including a sub-group analysis limited to patients with prior chemotherapy and crizotinib treatment.

Conclusions Treatment with alectinib in ALK?+?crizotinib-treated patients increased time progression-free and QALYs vs ceritinib. The marginal cost increase was driven by longer treatment durations with alectinib. This model demonstrates that alectinib may be considered a cost-effective treatment after progression on crizotinib.     

The Many Layers of Meaning of 007

Until Umberto Eco developed a semiotic analysis of Ian Fleming's series of novels with James Bond as the protagonist, few literary critics took them seriously. That was a mistake. There are many layers of meaning in Fleming's simple prose, and some of those layers may still elude analysts. The Bond series of books and novels have been mined for ideas about cultural change, sexuality, politics, consumerism, the body as symbol, and other features of the Bond persona. Yet, all of these methods of analysis fail to dig beneath the surface. To fully comprehend the character of James Bond, this article suggests that one must take into account the imperialism of the author, Ian Fleming, who strongly believed in the national destiny of England. Another crucial feature that underlies the motivations of James Bond is the ideology of eugenics, which Fleming wholeheartedly embraced. Finally, some features of the Bond series only make sense if one considers the mystical and alchemical beliefs of Fleming. The heroic archetype of James Bond is not merely a symbol of patriotism. Bond, in a sense, is an alchemist who is able to draw upon elements of fantasy to bring about a purpose that is even higher than nationalism.     

Major bleeding risk and healthcare economic outcomes of non-valvular atrial fibrillation patients newly-initiated with oral anticoagulant therapy in the real-world setting

Aims: This study compared the risk for major bleeding (MB) and healthcare economic outcomes of patients with non-valvular atrial fibrillation (NVAF) after initiating treatment with apixaban vs rivaroxaban, dabigatran, or warfarin.

Methods: NVAF patients who initiated apixaban, rivaroxaban, dabigatran, or warfarin were identified from the IMS Pharmetrics Plus database (January 1, 2013–September 30, 2015). Propensity score matching (PSM) was used to balance differences in patient characteristics between study cohorts: patients treated with apixaban vs rivaroxaban, apixaban vs dabigatran, and apixaban vs warfarin. Risk of hospitalization and healthcare costs (all-cause and MB-related) were compared between matched cohorts during the follow-up.

Results: During the follow-up, risks for all-cause (hazard ratio [HR]?=?1.44, 95% confidence interval [CI]?=?1.2–1.7) and MB-related (HR?=?1.57, 95% CI?=?1.0–2.4) hospitalizations were significantly greater for patients treated with rivaroxaban vs apixaban. Adjusted total all-cause healthcare costs were significantly lower for patients treated with apixaban vs rivaroxaban ($3,950 vs $4,333 per patient per month [PPPM], p?=?.002) and MB-related medical costs were not statistically significantly different ($100 vs $233 PPPM, p?=?.096). Risk for all-cause hospitalization (HR?=?1.98, 95% CI?=?1.6–2.4) was significantly greater for patients treated with dabigatran vs apixaban, although total all-cause healthcare costs were not statistically different. Risks for all-cause (HR?=?2.22, 95% CI?=?1.9–2.5) and MB-related (HR?=?2.05, 95% CI?=?1.4–3.0) hospitalizations were significantly greater for patients treated with warfarin vs apixaban. Total all-cause healthcare costs ($3,919 vs $4,177 PPPM, p?=?.025) and MB-related medical costs ($96 vs $212 PPPM, p?=?.026) were significantly lower for patients treated with apixaban vs warfarin.

Limitations: This retrospective database analysis does not establish causation.

Conclusions: In the real-world setting, compared with rivaroxaban and warfarin, apixaban is associated with reduced risk of hospitalization and lower healthcare costs. Compared with dabigatran, apixaban is associated with lower risk of hospitalizations.     

Does hospitality diversity education make a difference in undergraduate students’ emotional intelligence

Soft skills are typically referred to as the attributes exhibited or contained by an individual that display his/her ability to interact with others. Two types of soft skills that are often discussed within the hospitality industry are diversity awareness and emotional intelligence. Diversity may be explained or defined as a state of unlikeness, the conditions of being different, and all things that make us different. Areas where differences may exist include race, ethnicity, gender, sexual orientation, socio-economic status, age, physical abilities, religious beliefs, political affiliation and emotional reaction. Emotional intelligence (EI) has been defined as the ability to perceive, understand, regulate, and harness emotions in the self and others. How one deals with emotion is one characteristic that varies from culture to culture. Research has shown that EI may be a contributing factor in a moment of truth being considered a failure or success. The purpose of this study was to examine if undergraduate student EI scores change after completing a diversity issues course. Students completed the Assessing Emotions Scale on the first class day. At the conclusion of the 15-week course covering approximately 20 diversity issues concepts students completed the same EI assessment. Paired sampled t-testing was conducted to determine whether mean differences existed when comparing post and pre-course scores. Results of this study suggest that certain components of EI are significantly changed after taking the diversity issues course.     

Workplace isolation: salespeople and supervisors in USA

Virtual work is becoming the norm in sales organizations because it is cost effective for the firm and can benefit customers and salespeople. However, along with these benefits, virtual work brings new challenges to organizations. One critical issue is workplace isolation (WI). This study uses responses from a sample of 346 salespeoples in the pharmaceutical field to test a model that investigates the relationships among WI, self-efficacy, leadership style, extra-role performance (ERP), satisfaction with the supervisor, and turnover intentions. Salespersons perception of managers as considerate leaders are associated with lower WI levels. Salespeople with higher levels of self-efficacy are less likely to believe that they are isolated from the company and their colleagues. WI, in turn, is significantly related to satisfaction with the supervision and ERP. Managerial implications and future research directions are presented.     

Volunteering time decisions: a multi‐factor experimental study

Non‐profit organizations often seek volunteers to help staff a fundraising event. In the present research, an experimental study assessed volunteering time decisions for a fundraising event following manipulations of opportunity cost valence, opportunity cost avoidability and question order involving donating time and donating money. Opportunity costs represent foregone alternatives sacrificed (e.g. working) when engaging in an activity (e.g. volunteering), with valence of the opportunity cost indicating the appeal (positive or negative) of the foregone alternative and avoidability of the opportunity cost suggesting how easy it would be to forgo the alternative. Prospective donors are often asked to consider both volunteering time and contributing money, and these two questions posed to individuals can be varied in terms of order. The results of the experiment revealed that individuals intended to volunteer the most time when an opportunity cost was negative and avoidable. The lowest time donation intentions occurred when an opportunity cost was positive and less avoidable with individuals also being asked about donating money prior to being asked to donate time. The results highlighted the importance to non‐profit firms of considering opportunity costs potential volunteers face and suggested care in structuring the order of questions involving time and money posed to those individuals. Copyright © 2011 John Wiley & Sons, Ltd.