Common Stock Returns in Corporate Takeover Bids: The Case of Brokerage House Acquisitions

This paper examines the common stock returns of three groups of bidders that purchased brokerage houses. Only in the cases of horizontal mergers, one brokerage house purchasing another, are there abnormal returns associated with the purchase. Neither bank holding company bidders nor non-financial bidders gain significantly when purchasing a brokerage house. Bank holding company bidders face considerable regulatory delays, and these economic disturbances may eliminate their gains. Bank holding company expansion into these non-bank activities does not appear, at the time of announcement, to either hurt or benefit them; hence, this expansion does not appear to further the loss exposure of the Federal Deposit Insurance Corporation.     

Selected individual differences and collegians' ethical beliefs

This paper develops twenty hypotheses concerning the relationships among selected individual differences variables (locus of control, delay of gratification, gender, and race) and five different ethical beliefs. The results of a study of collegians provide support for seventeen out of twenty research hypotheses. As predicted, locus of control, delay of gratification, and race are related to ethical beliefs. Also as predicted, gender is not related to ethical beliefs. Michael K. McCuddy, Professor of Human Resource Management at Valparaiso University, has conducted research on a variety of organizational topics. His work has been published in the Academy of Management Journal, Journal of Applied Psychology, Journal of Organizational Behavior Management, The Health Care Supervisor, and Management Accounting. His current interests involve academic ethics and subsequent career behavior, organizational morality and organizational success, and ethics in the management accounting profession. Barbara L. Peery, Adjunct Professor of Management at Virginia Commonwealth University, teaches courses in Entrepreneurship and Human Resources Management. Her scholarly work has been published in the Journal of Small Business Management and the Journal of Private Enterprise. Her current research interests focus on the antecedents and consequences of academic ethics. She has co-directed or coordinated several consulting projects for agencies in the Commonwealth of Virginia, and has taught in Russia.     

The road to a market economy

The ongoing conversion of the economies of former socialist countries into market economies has so far suffered from the lack of a theory of system transformation (policy) which indicates the means of achieving the desired objectives and makes it possible to evaluate the transformation policies of individual countries. The following article outlines the essential aspects of such a theory.     

Optimal Generic Advertising with a Rationed Related Good: The Case of Canadian Beef and Chicken Markets

An optimal advertising rule is derived for a good sold in an open market (beef) when a related substitute good (chicken) is production rationed and whose imports are subject to trade restrictions. Such a rule is developed using a multi-market equilibrium displacement model that reflects demand interrelatedness, open trade of the advertised good (beef), with rationed production and restricted trade of the related good (chicken). The optimal rule nests earlier optimal advertising rules under a variety of conditions. Results underscore the importance of accounting for cross-product advertising effects. When these effects are present (absent), the optimal generic beef advertising intensity in Canada is shown to fall (rise) with elimination of supply management in Canada's chicken sector.
L'auteur dérive une règie sur l'optimisation de la publicité pour un produit vendu sur un marché libre (bœuf) en présence d'un produit de substitution rationné dont on restreint les importations. Pour parvenir à une telle règie, l'auteur a utilisé un modèle de déplacement du point d'équilibre sur un marché multiple illustrant les liens entre la demande des produits concernés, le libre-échange du produit faisant l'objet de la publicité (bœuf) et la restriction de la production et des importations du produit apparenté (poulet). La règie d'optimisation englobe les règles antérieures sur l'optimisation de la publicité dans diverses situations. Les résultats soulignent qu'il est important de prendre en compte les retombées de la publicité sur les autres produits. Au Canada, en présence (absence) de telles retombées, le degré optimal de publicité générique sur le bœuf diminue (augmente) avec l'abolition de la gestion de l'offre de poulet.     

浅析企业战略成本管理

阐述战略成本管理的核心-目标成本，并对其的制定，执行与控制等主要环节做了简要的分析，同时结合企业实际强调实施战略成本管理应从自我评价入手，对各种影响因素进行分析。建立具有中国特色的成本管理新模式。     

Government Policy and the Evolution of the Market for Dutch Daily Newspapers

This paper investigates whether governments can change market structures through interventions. We study the effects of four political events over the life cycle of the market for daily newspapers in the Netherlands. We find that policy measures meant to lower entry barriers in an expanding industry created new entry and increased survival chances for potential entrants and incumbent newspapers. Exit barrier enhancing policies to reduce concentration tendencies have not been successful.     

电子标签方兴未艾我国市场及时应对

电子标签通过射频识别系统实现自动识别.将商品信息存储在芯片上,附着在待识别物体表面,当商品进入阅读器的读取范围后,阅读器通过发射信号寻找它们.当信号激活电子标签时,后者会立刻反馈携带有标签信息的反射信号,实现无接触读取并识别电子标签中所保存的电子数据,达到自动识别物体的目的.     

在虚拟的刀光剑影中游走

阴霾的天气容易让人想不开，城市的纷乱，多少有些无奈。而有些人可以抛弃环境的影响，逃遁或者投入到美妙的图景中。