Drug testing in the transportation industry: The maritime case

The maritime industry provides an interesting case study of the design and implementation of drug-testing programs in the transportation industry during the 1980s. It is clear that such programs were designed and implemented less because of empirical evidence of safety problems than for political reasons. The results in the maritime industry are indicative of a program that is expensive to operate, intrusive with regard to employee privacy, and which will have little or no impact on safety. Focusing such programs on the issue of impairment rather than on the issue of drug usage per se is likely to improve the outcome of the programs. Although, despite common belief, there is little evidence that drug usage or the “drug problem” in U.S. society as a whole had gotten worse in the preceding years (Schonsheck, 1989, 250–251).     

Judo Strategy: 10 Techniques For Beating A Stronger Opponent

The idea of judo economics, building on analogies with the sport of judo, has been around for at least 20 years. But taking these ideas further to judo strategy means that a framework of strategic principles can be developed to help companies put stronger opponents on the mat.     

Inferential Causal Models: Integrating Quality & Quantity

In-depth data analysis plus statistical modeling can produce inferentialcausal models. Their creation thus combines aspects of analysis by close inspection,that is, reason analysis and cross-tabular analysis, with statistical analysis procedures,especially those that are special cases of the generalized linear model (McCullaghand Nelder, 1989; Agresti, 1996; Lindsey, 1997). This paper explores some of the roots of this combined method and suggests some new directions. An exercise clarifies some limitations of classic reason analysis by showing how the cross tabulation of variables with controls for test factors may produce better inferences. Then, given the cross tabulation of several variables, by explicating Coleman effect parameters, logistic regressions, and Poisson log-linear models, it shows how generalized linear models provide appropriate measures of effects and tests of statistical significance. Finally, to address a weakness of reason analysis, a case-control design is proposed and an example is developed.     

AN EMPIRICAL INVESTIGATION INTO THE IMPACT OF PROFIT SHARING SCHEMES OF EXECUTIVIES ON THE CONTENT OF CORPORATE SUBMISSIONS ON PROPOSED ACCOUNTING STANDARDS

This paper examines the comments submitted by UK companies on 20 proposed accounting standards to test the hypotheses that executives favor standards that increase, or dampen the variance of, accounting profit numbers on which their incentive remuneration is based. Test results were generally as hypothesised but only the profit variance outcomes were statistically significant. Allowing for political environment changes affected only the profit variance results. There was no evidence that the relative monetary size of bonus payments was a significant lobbying factor. No significant differences were found between the lobbying preferences of companies with or without executive incentive schemes.     

An Analysis of Differences in Earnings Between Small and Large Commercial Banks

This paper introduces a simple, yet rich, measure of efficiency changes based on the revenue-generating-ability (RGA) principle. Using this principle, we explain the connections between efficiency changes and the variables, such as pretax profits, interest expense, non-interest expense, profit margins, loan loss provision, and asset quality. These connections are used to explain earnings differences between small and large commercial banks.     

Spreads, depths, and the impact of earnings information: an intraday analysis

For a sample of NYSE firms, we show that wide spreads are accompaniedby low depths, and that spreads widen and depths fall in responseto bigger volume. Spreads widen and depths fall in anticipationof earnings announcements; these effects are more pronouncedfor announcements with larger subsequent price changes. Spreadsare also wider following earnings announcements, but this effectdissipates quickly after controlling for volume. Collectively,our results suggest liquidity providers are sensitive to changesin information asymmetry risk and use both spreads and depthsto actively manage this risk.     

Innovative productivity and returns to scale in the pharmaceutical industry

This study shows that firms in the pharmaceutical industry experience decreasing returns to scale in R & D as the level of R & D expenditures rises. The paper presents the results of our study of the innovative output of 16 pharmaceutical firms over a 19 year period. Given the strong correlation between R & D budgets and firm size, our study suggests the wave of mergers in the industry may yield less innovative productivity than managers expect.