Assessing the impact of taxes on female labor supply using a finite mixture approach

This paper expands the standard analysis of female labor supply to permit preference heterogeneity by using a finite mixture model. Using the extended model, we obtain theory consistent results whereas a traditional model produces a negative substitution effect. We use our model to illustrate the labor supply effects of a tax reform, corresponding to 1983–1992 changes in the Swedish income-tax schedule. The results shows an expected reduction in tax revenues of about 17%. Finally, we use Monte Carlo simulations and show that our proposed mixture model is robust towards different misspecifications. First version received: March 1998/final version accepted: October 1999     

Schlafmittel – und was noch?

Medikamente allein reichen nicht - Komplement?re Ma?nahmen k?nnen Effekte von Medikamenten verbessern und den Umfang der Medikation vermindern. Aus diesem Grund sollten Pflegende und Therapeuten m?gliche Alternativen kennen und den Betroffenen anbieten.     

Cardinality versus q-norm constraints for index tracking

Index tracking aims at replicating a given benchmark with a smaller number of its constituents. Different quantitative models can be set up to determine the optimal index replicating portfolio. In this paper, we propose an alternative based on imposing a constraint on the q-norm (0?<?q?<?1) of the replicating portfolios’ asset weights: the q-norm constraint regularises the problem and identifies a sparse model. Both approaches are challenging from an optimization viewpoint due to either the presence of the cardinality constraint or a non-convex constraint on the q-norm. The problem can become even more complex when non-convex distance measures or other real-world constraints are considered. We employ a hybrid heuristic as a flexible tool to tackle both optimization problems. The empirical analysis of real-world financial data allows us to compare the two index tracking approaches. Moreover, we propose a strategy to determine the optimal number of constituents and the corresponding optimal portfolio asset weights.     

Perceptions and knowledge of accounting professionals on IFRS for SMEs: Evidence from Turkey

This exploratory study extends the literature on IFRS for SMEs issued by the IASB in July 2009, and adopted by Turkey in November 2010. A questionnaire survey, based on the relevant literature and IFRS for SMEs, was developed. The aim was to investigate basic knowledge and perceptions of accountants regarding IFRS for SMEs. Our findings suggest that proponents of stand-alone IFRS for SMEs outnumber its opponents. The respondents are not highly informed about the omission of certain topics in IFRS for SMEs. Their awareness of valuation methods/concepts in IFRS for SMEs is at a moderate level. Inadequacy of accounting personnel’s training and lack of training programs arranged by professional bodies are considered to be the most serious obstacles in implementation of the standards. The majority of the participants are not aware of the key differences between full IFRS and IFRS for SMEs and simplifications made in IFRS for SMEs. Accounting professionals who are trained about IFRS for SMEs and the employees of Big4 auditing firms are more knowledgeable about the standards in comparison to others. Education level and experience of respondents have partial positive impact on knowledge of the standards.     

Signs and Practices: Coordinating Service and Relationships

The world is full of signs (symbols, signifiers). They guide us in supermarkets, on highways and in airports. They even guide us to the right bathroom. Signs have a huge impact if they are used as logos or in advertisements. Signs also help us when we read manuals or when we use a remote control. Signs are used everywhere. Signs render service as they are “applications of skills and knowledge for the benefit of another party” (Vargo and Lusch 2004, 2008). Like all offerings signs only render service if they are used in some way. This article will argue that the usage of signs depends on the practices they are embedded in. It is argued that signs do not gain their full meaning and do not serve or create any value unless they are embedded in practices. Since signs are explicit and practices mainly implicit they are both necessary to serve and more importantly to (co-)create value. Signs and practices are two sides of the same coin so both they (and their interrelation) have to be understood in order to offer a better service.