The impact of TOEFL scores on placement and performance of international students in the initial graduate accounting class

This paper examines, in a US context, the relationship between performance in the initial required graduate financial accounting class and Test of English as a Foreign Language (TOEFL) scores for a sample of international MBA students. Other variables that have been shown in the past to be associated with superior performance in that class for other samples are also considered for this international sample. These relationships have not been analysed by any previous studies. The results show that TOEFL scores are not associated with superior performance in graduate accounting for the international students. The Graduate Management Admission Test (GMAT) score is the factor most associated with superior performance in graduate-level accounting for international students. This result is consistent with the result reported in Krausz et al. (Advances in Accounting Education, 3(3), 169–177, 2000) for a sample of domestic US students.     

From Geo to Neo: A Speculative Inquiry into the Unusual “Geo-Ethnic” Roots of Neoconservatism in US Foreign Policy

There has been much controversy over the role that ethnic diasporas (sometimes called “lobbies”) do or should play in shaping American foreign policy. This article looks at one particular ethnic group, American Jews, with a view to assessing the claim made by some authors, to the effect that “neoconservatism” has been influenced considerably by Judaism. The article mostly debunks that claim, at least if the suggestion is that something about Judaism as a religion can help account for the policy agendas espoused by neoconservatives in recent years. However, the authors do argue that a “geo-ethnic” link can be established between a Jewish diaspora in America and the evolution of neoconservatism. Their claim is that a “borderlands” tradition emanating originally on the Russian frontier in the latter part of the nineteenth century was exported to America, through the migration of peoples they refer to as “new borderers.” This folk community, the authors argue, coalesced with another, well-established, folk community of “borderers” (the Scotch-Irish), resulting in the formation of the coalition known in recent years as neoconservatism – a coalition representing a fusion of Jacksonianism and Wilsonianism.     

Cost-effectiveness of axicabtagene ciloleucel for adult patients with relapsed or refractory large B-cell lymphoma in the United States

Abstract

Purpose: Axicabtagene ciloleucel (axi-cel) was recently approved for treatment of relapsed or refractory (R/R) large B-cell lymphoma (LBCL) following two or more prior therapies. As the first CAR T-cell therapy available for adults in the US, there are important questions about clinical and economic value. The objective of this study was to assess the cost-effectiveness of axi-cel compared to salvage chemotherapy using a decision model and a US payer perspective.

Materials and methods: A decision model was developed to estimate life years (LYs), quality-adjusted life years (QALYs), and lifetime cost for adult patients with R/R LBCL treated with axi-cel vs salvage chemotherapy (R-DHAP). Patient-level analyses of the ZUMA-1 and SCHOLAR-1 studies were used to inform the model and to estimate the proportion achieving long-term survival. Drug and procedure costs were derived from US average sales prices and Medicare reimbursement schedules. Future healthcare costs in long-term remission was derived from per capita Medicare spending. Utility values were derived from patient-level data from ZUMA-1 and external literature. One-way and probabilistic sensitivity analyses evaluated uncertainty. Outcomes were calculated over a lifetime horizon and were discounted at 3% per year.

Results: In the base case, LYs, QALYs, and lifetime costs were 9.5, 7.7, and $552,921 for axi-cel vs 2.6, 1.1, and $172,737 for salvage chemotherapy, respectively. The axi-cel cost per QALY gained was $58,146. Cost-effectiveness was most sensitive to the fraction achieving long-term remission, discount rate, and axi-cel price. The likelihood that axi-cel is cost-effective was 95% at a willingness to pay of $100,000 per QALY.

Conclusion: Axi-cel is a potentially cost-effective alternative to salvage chemotherapy for adults with R/R LBCL. Long-term follow-up is necessary to reduce uncertainties about health outcomes.     

Labor mobility and antitakeover provisions

How do firms protect their human capital? We test whether firms facing an increased threat of being acquired strengthen their antitakeover provisions (ATPs) in order to bond with their employees. We use the adoption of the Inevitable Disclosure Doctrine (IDD) by US state courts, which exogenously decreases knowledge-worker mobility, thus elevating takeover risk and reducing employee incentives to innovate. Firms respond to the IDD adoption by strengthening ATPs that defend against hostile takeovers, especially when they have greater ex-ante employee mobility and human capital and place greater importance on employee relations. We find no evidence that managers strengthen ATPs for entrenchment or takeover bargaining purposes in this setting. Our findings show that ATPs can be used to credibly commit to employees in order to protect long-term value creation.     

A History of Australian Corporate Bonds

We compile a new unit‐record data set of Australian corporate bond issuance, which sheds light on developments in the bond market since the early twentieth century. Reflecting the evolution of the economy, privatisations, and changes in the regulatory landscape the following trends are noteworthy: (i) issuance today is largely by private entities whereas government‐owned corporations dominated historically; (ii) the issuer base has shifted away from non‐financial corporations towards banks, with corporations now raising a large share of funds offshore; and (iii) the investor base has shifted away from direct holdings by households towards holdings through superannuation/managed funds and holdings by non‐residents.     

The impact of technological learning on NPD outcomes: The moderating effect of project complexity

The innovative status of an emerging market is largely attributed to the technological learning maturity of its finest multinational companies (MNCs). This study uses the information processing perspective to investigate the impact of inter-/intra-functional technological learning (knowledge acquisition, information distribution, information interpretation and organizational memory) of 105 project teams on new product development (NPD) outcomes (project success, development speed and product entry timeliness) across nine MNCs. Of the four technological learning dimensions, only organizational memory did not possess a direct relationship with any NPD outcome dimensions. This study further contrasts the above impact across varying levels of project complexity. Information interpretation and organizational memory contribute to project success for low complexity projects. Conversely, for high complexity projects, development speed is contingent on organizational memory.     

Effects of Mentoring on the Development of Leadership Self‐Efficacy and Political Skill

This study of 260 business graduate students considered the relationship between mentoring and leadership self‐efficacy, and mentoring and political skill. Comparisons between nonmentored and mentored individuals showed that having a mentor was associated with increased political skill but not with increased leadership self‐efficacy. Among mentees, higher quality mentoring relationships were associated with significantly higher leadership self‐efficacy but not with significantly higher political skill. Results suggest that the presence of a mentor affects protégé development of political skill, but the quality of the relationship is important for protégé development of leadership self‐efficacy.     

Tuition increases Geaux away? Evidence from voting on Louisiana’s amendment 2

In many states, public institutions of higher education have the autonomy to raise tuition. This has not been the case in Louisiana since a 1995 constitutional amendment required a two-thirds majority of the state legislature for any tuition increase. In November of 2016, voters in Louisiana rejected Amendment 2, a constitutional amendment that would have given state institutions of higher education autonomy in setting tuition. We examine parish-level voting on Amendment 2 using an empirical political economy model and find that parishes with a greater percentage of African-Americans and university employees were more likely to vote yes. Student enrolment at public institutions seemingly did not play a role in Amendment 2 losing.     

Estimating the clinical effectiveness and value-based price range of erenumab for the prevention of migraine in patients with prior treatment failures: a US societal perspective

Background: Frequent migraine with four or more headache days per month is a common, disabling neurovascular disease. From a US societal perspective, this analysis models the clinical efficacy and estimates the value-based price (VBP) for erenumab, a fully human monoclonal antibody that inhibits the calcitonin gene-related peptide receptor.

Methods: A Markov health state transition model was developed to estimate the incremental costs, quality-adjusted life-years (QALYs), and value-based price range for erenumab in migraine prevention. The model comprises “on preventive treatment”, “off preventive treatment”, and “death” health states across a 10-year time horizon. The evaluation compared erenumab to no preventive treatment in episodic and chronic migraine patients that have failed at least one preventive therapy. Therapeutic benefits are based on estimated changes in monthly migraine days (MMD) from erenumab pivotal clinical trials and a network meta-analysis of migraine studies. Utilities were estimated using previously published mapping algorithms. A VBP analysis was performed to identify maximum erenumab annual prices at willingness-to-pay (WTP) thresholds of $100,000–$200,000 per QALY. Estimates of VBP under different scenarios such as choice of different comparators, assumptions around inclusion of placebo effect, and exclusion of work productivity losses were also generated.

Results: Erenumab resulted in incremental QALYs of 0.185 vs supportive care (SC) and estimated cost offsets due to reduced MMD of $8,482 over 10 years, with an average duration of treatment of 2.01 years. The estimated VBP at WTP thresholds of $100,000–$200,000 for erenumab compared to SC ranged from $14,238–$23,998. VBP estimates including the placebo effect and excluding work productivity ranged from $7,445–$13,809; increasing to $12,151–$18,589 with onabotulinumtoxinA as a comparator in chronic migraine.

Conclusion: Erenumab is predicted to reduce migraine-related direct and indirect costs, and increase QALYs compared to SC.     

Hospital cost and length of stay in idiopathic pulmonary fibrosis

Objective: To provide a detailed picture of the economic impact of hospitalization in idiopathic pulmonary fibrosis (IPF) and to identify factors associated with cost and length of stay (LOS).

Methods: In this retrospective cross-sectional study using the Nationwide Inpatient Sample (NIS), this study included hospitalizations for IPF (ICD-9-CM 516.3) with a principal diagnosis of respiratory disease (ICD-9-CM 460-519) from 2009–2011; lung transplant admissions were excluded. Total inpatient cost, LOS, in-hospital death, and discharge disposition were reported. Linear regression models were used to determine variables predictive of LOS and cost.

Results: From 2009–2011, 22,350 non-transplant IPF patients with a principal diagnosis of respiratory disease were admitted: mean (±SE) age was 70.0 (0.32), and 49.1% were female. While in hospital, 11.4% of patients received mechanical ventilation and 8.9% received non-invasive ventilation. Mean (±SE) LOS was 7.4 (0.15) days overall (p?Limitations: The positive predictive value of the algorithm used to identify IPF is not optimal. The NIS database does not follow patients longitudinally, and claims after admission are not available. Claims do not indicate whether listed diagnoses were present on admission or developed during hospitalization. The exclusion of transplant-related expenditures lead to under-estimation of cost.

Conclusion: Using a nationally-representative database, we found IPF respiratory-related hospitalizations represent a significant economic burden with ～7,000 non-transplant IPF admissions per year, at a mean cost of $16,000 per admission. Mechanical ventilation is associated with statistically significant increases in LOS and cost. Therapeutic advances that reduce rates and costs of IPF hospitalizations are needed.