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1.
The patterns of daily returns in over-the-counter (OTC) stocks are examined to determine if a holiday effect exists in the OTC market. For the sample period of 1973–1989, test results provide evidence of unusually high returns on pre-holiday trading days and unusually low returns on post-holiday trading days in the OTC market. Additional analyses indicate that other documented calendar anomalies do not cause the pre-holiday effect, but the day-of-the-week effect apparently drives the post-holiday effect. 相似文献
2.
This paper derives the shadow prices of labour and capital to be used in the public sector in a situation of unemployment. The setting considered is that of a three-good, two-period general equilibrium model. Then shadow prices are compared to their corresponding market prices and shown to closely depend on own and cross-elasticities of supply and demand for labour and investment. In the first part, a rigid wage rate is the sole source of distortion; then, a tax on capital income is introduced so that our formula for the social rate of discount can be contrasted with that of Harberger, Sandmo and Drèze. 相似文献
3.
Robin Boadway Nicolas Marceau Maurice Marchand 《International Tax and Public Finance》1996,3(3):311-327
This paper analyzes some of the problems that arise in decentralizing education to the private sector. We concentrate on the difficulties that result from the heterogeneity of students and competition among schools in a location setting. We analyze two main issues, the resources expended by schools and the mix of students in schools, and report on results for two others, the location of schools and their number. For each of these, we investigate the extent to which decentralizing the provision of schooling results in an efficient allocation of resources, and consider the use of vouchers to improve the situation. Our analysis draws on elements of three distinct methodologies: the theory of clubs, location theory, and the theory of monopolistic competition. We find that private schooling will typically be inefficient, but that inefficiency may sometimes be corrected by appropriately designed vouchers.We would like to thank Olivier Debande, Jean-François Wen, two anonymous referees, and seminar participants at the 1st meeting of the Canadian Public Economics Study Group and the 51 st congress of the International Institute of Public Finance for helpful comments. Stefan Buergi and Luc Savard provided useful research assistance. We are also grateful to the SSHRCC and the FCAR for financial support. 相似文献
4.
Beyza Ural Marchand 《Review of Income and Wealth》2019,65(Z1):S123-S152
This paper studies the pro‐poor bias of trade policy in India by estimating the household welfare effects of removing the current protection structure. The elimination of a pro‐poor trade policy is expected to have a negative differential welfare effect at the low end of the distribution. The paper first constructs trade restrictiveness indexes for household consumption items and industries using both tariffs and non‐tariff barriers. The results indicate that Indian trade policy is regressive through the expenditure channel as it disproportionately raises the cost of consumption for poorer households, while it is progressive through the earnings channel. Based on the net welfare effects, the elimination of the current trade protection structure is estimated to reduce inequality. These results indicate that a trade policy that is progressive through the earnings channel may induce a price effect that is regressive through the expenditure channel. 相似文献
5.
Victor Y. Haines III David L. Patient Alain Marchand 《Human Resource Management Journal》2018,28(1):92-111
With the aim of extending organisational justice research to embrace significant and enduring aspects of the workplace context, this study examines organisational culture and human resource management (HRM) as constitutive dimensions of systemic justice and relates them to employee health. Bridging organisational justice, HRM, organisational culture, and occupational health research, we advance and test a multilevel model relating systemic justice to burnout. Data collected from 60 organisations; 89 employee groups; and 1,976 employees provide support for the hypothesised relationships between justice‐oriented culture, in terms of organisational values and group culture, and justice‐oriented HRM. In turn, justice‐oriented HRM related directly to employee burnout and indirectly through employee perceived job control and supervisor social support. 相似文献
6.
Ken McEwan Lynn Marchand Max Shang Delia Bucknell 《Revue canadienne d'agroeconomie》2020,68(2):201-206
Canada and the United States have strong economic ties and form part of an integrated North American pork industry. Canada's pork industry is export-oriented, and the United States represents a key market for both live pigs and pork. Pork value chain stakeholders include input suppliers, pig producers, transportation companies, slaughter plants, wholesalers, and retailers. There are three overriding areas of concern for the Canadian pork industry with respect to potential impacts of the current pandemic (COVID-19). The first is Canada/US trade and the ability to continue exporting Canadian live pigs and pork to the United States. The second is labor and the impact of potential absenteeism on all sectors of the pork value chain. The third is global trade, because Canada's pork industry relies heavily on exporting pork to markets around the world. 相似文献
7.
Erdem A. Ural 《Process Safety Progress》1992,11(3):176-181
Two apparatuses have been developed to characterize the entrainability of dust deposits. The minimum aerodynamic wall shear stress required for dust removal (Critical Shear Stress), measured by the first apparatus, is an indicator of the ease with which dust particles can be removed from a layer. The second apparatus measures the settling velocity distribution of dust clouds, which is an important factor controlling the extent of dispersion as well as the time period during which the entrained dust cloud can remain suspended. Testing has shown that the critical shear stress depends not only on the nature of the dust, but on the way the dust deposit is formed. Therefore, a portable version of this apparatus was developed to allow field testing of dust deposits. This methodology has also been used to evaluate the effect of oil treatment sometimes used in the grain handling industry to reduce dust emission. Simulated explosion tests have demonstrated the importance of critical shear stress on dust entrainability. A simple model calculating unsteady dust concentration in elongated structures has been developed. The model shows that flammable dust concentrations induced in a gallery by a primary explosion exist over a finite length and time period. Therefore, the probability of a secondary explosion depends not only on the dust and layer properties, but on the details of the primary explosion and of the enclosure geometry. A simple criterion for transmission of a primary explosion into an adjoining elongated structure is discussed in the paper. 相似文献
8.
A new gender wage gap decomposition methodology is introduced, which does not suffer from identification problems caused by unobserved nondiscriminatory wage structure. The methodology is used to measure the relative size of Korean gender wage gaps, from 1994 to 2000 across industries, differentiated by industrial knowledge intensity, where knowledge intensity is the extent to which industries produce or employ high-technology products. Korea represents an important case study, since it possesses one of the fastest growing knowledge-intensive economies among industrialized countries. Empirical results indicate that over this period, discrimination (the unexplained portion of the gender wage gaps) in Korea was statistically smaller in knowledge-intensive industries than in industries with low knowledge intensity. Also, discrimination was declining on average over the period. This suggests that continued growth in knowledge-intensive industries in Korea may lead to further declines in the overall gender gap. 相似文献
9.
Richard A. Followill Michael Schellenger Patrick H. Marchand 《The Financial Review》1990,25(1):143-152
This study challenges the generally accepted managerial decision to accept a quantity discount if total, perperiod inventory and acquisition costs are reduced. In this paper, the economic order quantity model is reformulated within an explicit wealth maximization framework, and the reformulated model is then utilized to analyze inventory decisions when volume discounts are available. The results of the study indicate that the traditional method of analyszing volume discount opportunities may invoke wealth decreasing decisions. 相似文献