Understanding New Resource Projects

The surge in new resource projects has been a prominent feature of the recent strong performance of the Australian economy, with mining and energy investment accounting for almost one‐half of all private investment. Although the current round of resource investment has now peaked, as swings in the resource sector tend to repeat themselves, there is an ongoing need to carefully understand the available information sources. We use a specially developed panel of matched projects from three widely followed, but under‐researched, sources to analyze cost inflation, the biases, the degree of independence, and timeliness of each source. This information is of use to policy makers who have to closely monitor these developments, analysts following the resources sector, and project proponents wanting to know something about the typical cost profile of a project.     

U.S. Competitive Position and Capital Investment Flows in the Economic Citizen Market:

ABSTRACT Many countries hail economic citizenship as the new mechanism for encouraging capital mobility and economic development. Economic citizenship is the process of granting citizenship or residency to foreign individuals who have investment capital that will create jobs for citizens in the immigrant receiving country. Many developing and developed countries, including the Commonwealth of Dominica and Belize, Canada, Australia, and the United States, have embraced this concept with hopes of massive capital inflows to their countries. While this investment measure has been successful in a few countries, the U.S. has only been able to attract less than 10% annually of the targeted number of investors through this strategy. The U.S. has been further from its targeted annual allocation of visas than Dominica and Canada. The Economic Citizenship Program has less potential of affecting a small nation's levels of investment than a large one's. A number of socio-political and economic reasons, including program cost and social adjustment, cause a slow influx of new immigrants and investments to the U.S.     

美国消费者眼中的企业社会责任

美国消费者最关注员工问题 消费者眼中认为的最重要的企业社会责任领域或许有别于那些社会责任投资者们所关注的领域。尽管社会责任投资者们在评估方法上远未达成一致,但运用更加广泛的评估方式已经逐渐成为一种趋势。美国著名的企业社会责任研究及咨询公司KLD,创建了一个名为“苏格拉底”的在线社会研究数据库,旨在帮助那些投资专业人士将环境、社会及管理因素纳入其投资决策中去。     

More on tariffs and non-traded goods

The general equilibrium effects of a small tariff on relative prices are analysed within a demand and supply model which provides further insights into Dornbusch's (1974) results. It is shown that the elasticity of the price of non-traded goods with respect to the tariff is a weighted average of the degree of substitutability between non-traded goods and importables on the supply side and that on the demand side. When complementarity is ruled out, the price of non-traded goods increases with the tariff, but less than proportionally.     

An analysis of the implications of discontinued operations for continuing income

We examine the extent to which changes in the accounting for discontinued operations affects the usefulness of disaggregated income components in predicting an entity’s future continuing income. Our study is motivated by the joint FASB/IASB convergence project which seeks to define the scope of transactions reported in discontinued operations. To examine our question, we compare the properties of continuing income and discontinued operations reported under SFAS 144 and APB 30, where APB 30 closely parallels IFRS 5. We find that the broader scope of the rule under SFAS 144 results in more persistent continuing income among firms reporting discontinued operations, and that this is concentrated among single-segment firms, which previously were less likely to fall within the scope of APB 30. Because we find no evidence of increased opportunism, we conclude that the broader scope of the rule results in a finer partitioning of recurring and nonrecurring income. Overall, our results support the broader scope of discontinued operations.     

Foreign aid as a promotional strategy

Developed countries are motivated by several forces when allocating aid to developing countries. The forces could be humanitarian in one country, and commercial self-interests in another. The principal objective of this study was to determine the effectiveness of aid as a promotional strategy for trade, and to investigate whether major donor countries are optimally allocating their aid resources to increase their export and total trade. Models were developed to explore the effectiveness of aid as a promotional instrument for exports and total trade. Donor exports and total trade were expressed as functions of aid, per capita GNP of the recipient country, and aid from competing donors. The study showed that exports and total trade responded to total expected aid contributions and per capita GNP of the recipient countries. Also, all donors, but one, were maximizing the returns to aid, given the level of trade with recipient countries and will be reluctant to increase aid flows, given the current trade level.     

The academic effectiveness of a bridging year for commerce undergraduates

Human resources development in South Africa is constrained by the underpreparedness of many students for university. The problem is particularly acute among school leavers for whom English is not their first language and who are thereby at a disadvantage in an English language university. In order to address the problem, which goes beyond language, bridging curricula have been devised. This research analyses how effective one such intervention is, in terms of an academic achievement outcome.

Decisions to allocate resources to bridging intervention need the assurance that the resources are used effectively. An ex post facto experimental research design ts used in this study to test the learning outcome of the PBS bridging intervention. The analysis assesses whether the PBS programme increases the academic achievement of students at first‐year level.

The examination results achieved by an experimental group of PBS students who matriculated from DET schools are compared with the results of a control group of DET matriculants. The research shows that the academic achievements of the PBS group during the bridging year were superior to those of the control group. Furthermore, superior performance was sustained by the PBS students after they Joined the mainstream BCom curriculum. After the bridging intervention, the PBS students achieved 7.7 percentage points better in Business Economics I examinations than the control group. The research design controls for demonstrated academic ability at school At a 0.01 level of statistical significance, the results of the analysis indicate that the PBS intervention has contributed positively to the students’ academic achievement.     

Understanding consumption patterns

The analysis of consumer demand is one of the major successes of economics as it represents the near perfect marriage of theory and econometrics. This paper reviews, distills and systematises some of the major empirical findings on consumption patterns, concentrating in particular on the more recent (and, in some cases, more controversial) evidence. One of the key conclusions of the paper is that on the basis on new methods, the hypotheses of homogeneity, symmetry and preference independence are not at such wide variance with the data as was once thought to be the case.     

The pay parity matrix − a tool for analysing the structure of pay

This article introduces a new tool for measuring relative pay within organizations. We call this innovation the ‘Pay Parity (PP) matrix’, and discuss its advantages and useful properties. The PP matrix allows us to conveniently measure, and draw inferences about, the nature of the whole remuneration schedule, such as its gradient and smoothness. We illustrate the application of the PP matrix by using data on the remuneration of academic executives in universities.