On characterizing discrete distributions via conditional expectations of weak record values

Let (W _n ,n ≥ 0) denote the sequence of weak records from a distribution with support S = { α₀,α₁,...,α _N }. In this paper, we consider regression functions of the form ψ _n (x) = E(h(W _n ) |W _n+1 = x), where h(·) is some strictly increasing function. We show that a single function ψ _n (·) determines F uniquely up to F(α₀). Then we derive an inversion formula which enables us to obtain F from knowledge of ψ _n (·), ψ _n-1(·), h(·) and F(α₀).     

Top-<Emphasis Type="Italic">k</Emphasis>-lists

Top-k-lists are introduced as sequences of k-dimensional random vectors with ordered components being k largest observations from a sequence of independent identically distributed random variables. Such lists changing in time are natural stochastic models of ranking tables which appear in many situations in real life, when one wants to keep a track of several best results in a given field. Here we study basic properties of top-k-lists as joint distributions, conditional structures, representations, driving examples of top-k-lists from exponential and uniform distributions, asymptotics and a relation to generalized order statistics.     

Monitoring the cross-covariances of a multivariate time series

In this paper sequential procedures are proposed for jointly monitoring all elements of the covariance matrix at lag 0 of a multivariate time series. All control charts are based on exponential smoothing. As a measure of the distance between the target values and the actual values the Mahalanobis distance is used. It is distinguished between residual control schemes and modified control schemes. Several properties of these charts are proved assuming the target process to be a stationary Gaussian process. Within an extensive Monte Carlo study all procedures are compared with each other. As a measure of the performance of a control chart the average run length is used. An empirical example about Eastern European stock markets illustrates how the autocovariance and the cross-covariance structure of financial assets can be monitored by these methods.     

The determinants of office cap rates: The international evidence

We examine commercial office cap rates in 89 large cities in 33 developed and developing countries in the 2000–2019 period. We find that cap rates decline throughout the world over this period, reflecting a corresponding decline in the real rate of interest. In the cross-city analysis our most robust findings are that office cap rates are lower in wealthier cities, especially those that are either considered gateway cities or financial centers. In addition, cap rates tend to be higher in countries with lower credit ratings and higher inflation rates. We find that cap rates in suburban office markets are higher than in central business districts, and for a given metropolis, suburban cap rates are lower in suburbs with better public transport connections to the central business district. Finally, evidence from regressions with city fixed effects reveal that cap rates rise as the discount rate and vacancy rates increase and fall as cities get wealthier.     

Return labour migration: an exploratory study of Polish migrant workers from the UK hospitality industry

Incoming labour migration represents an important research field, especially in the context of East-Central Europe, a key source region of labour migrants to the tourism and hospitality sectors of many Western economies, including the UK. Surprisingly, return labour migration from the UK to this region has not been systematically examined and yet there is increasing evidence of its significance, especially in light of Brexit. The labour migrant motivations to return and their re-integration experiences back home remain poorly understood. This study adopts a qualitative method of data collection and analysis to explore return migration of the Polish workforce from the UK hospitality sector. Homesickness and educational pursuits are identified as the key drivers. The UK employment experience enhances career prospects of former migrants and yet it largely benefits non-hospitality related sectors of the domestic economy. While the re-integration experiences of former migrants are generally positive and the majority are content with the decision to return, some consider an opportunity to re-migrate.     

Transitions: Taking complexity seriously

The aim of this paper is to make the case for a systematic engagement of transition studies with complexity theory and research. We argue that transition research is important for the understanding and development of possible sustainable future pathways. However, there are several controversies in transition research, including, the role of agency in transitions; the relationships between levels (niche, regime and landscapes); the origin of transitions; the identification of a transition, including starting and ending point of transition processes; and the paradox of replicability and scaling up of independent experiments. We argue that transition research, and future studies can benefit from taking complexity theory seriously. In the paper, we elaborate four insights from complexity studies that can move the research agenda of transition studies forward: empirically investigating the degree of complexity of a system; investigating complexity at the level of the policy-making system; longitudinal and retrospective research designs for the identification of transitions; methodological tools which accommodate complexity, such as agent-based modeling and ARIMA modeling. Further, we suggest how these can improve our knowledge of transitions towards sustainable future.     

Relations for product moments and covariances of <Emphasis Type="Italic">k</Emphasis>th records from discrete distributions

The aim of this paper is to establish recurrence relations satisfied by product moments and covariances of kth records arising from discrete distributions. They will be evaluated for geometric underlying distribution. Then we use these results to obtain formulas for correlation coefficients of geometric kth records. We consider all three known types of kth records: strong, ordinary, and weak.     

A double-edged sword? The moderating effects of control on firm capabilities and institutional distance in explaining foreign affiliate performance

By drawing from the internalisation and institutional theories, as well as the organisational capability perspective, the paper analyses the moderating effects of parent control over foreign affiliates in relation to firm capabilities and institutional distance and their performance effects. These relationships are explored in the context of new MNEs from Poland as a mid-range emerging economy, for which ownership choices constitute critical decisions given their early stage of internationalisation. Our findings show that while firm capabilities drive foreign affiliate performance, the increase of parent control limits this beneficial effect, suggesting the potential occurrence of organisational inertia and reduction of learning in foreign markets. On the contrary, we also find partial evidence that the increase of parent control reduces the negative effect of institutional distance computed based on the Mahalanobis formula. Accordingly, the study suggests a certain ambiguity of parent control in affecting affiliate performance.