Monitoring a Process of Exponentially Distributed Characteristics through Minimizing the Sum of the Squared Differences

This study presents an optimal exponent for transforming the exponentials for statistical process control (SPC) applications. The optimal exponent, 3.5454, is determined by minimizing the sum of the squared differences between two distinct cumulative probability functions. The normal distribution closely approximates the transformed distribution. The study investigates an interval of indifference for the exponent using two criteria, the square root of sum of the squared differences ( and the Kullback-Leibler distance (K-L). This interval is [3.4, 3.77], which implies that exponents falling in this interval have very similar results in transforming the exponentials. The study explores an example of flash memory wafer. The individual chart using the transformed data eliminating location the parameter has better detection power than that without eliminating the location parameter. Moreover, the control chart is also easier for practitioners to interpret and implement than probabilistic control limits.     

Chinese paternalistic leadership and non-Chinese subordinates' psychological health

Past research on Chinese leadership, a style which is different from that practiced in the West, has demonstrated that paternalistic leadership within Chinese society is significantly related to employees' psychological health. This research contributes to the literature by providing results from the interaction between Chinese and non-Chinese society and examining the moderating role played by the cultural value of uncertainty avoidance (UA). Based on the bottom-up model of the subjective well-being theory, this study aims to disclose the relationship between Chinese leadership behavior and its effects on the psychological health of non-Chinese subordinates from cross-cultural and multi-national backgrounds. Results from the study sample of 160 non-Chinese subordinates from 31 overseas branches of the selected, large, Chinese multinational enterprise (MNE), showed that the moral and authoritarian styles of the Chinese paternalistic leadership contributed negatively to psychological health in the workplace, a different pattern of results from studies completed with Chinese subordinates in previous research. In addition, it also showed that UA partly moderated this unique leader-follower relationship. Specifically, when non-Chinese followers had a higher UA value orientation, the negative effects of their superior's moral style on their psychological health was weakened.     

The effects of R&D, venture capital, and technology on the underpricing of IPOs in Taiwan

Information asymmetry and value uncertainty causes high -research and development (R&D) or high-tech Initial Public Offerings (IPOs) to become underpriced. Venture capital can serve as a moderator to mitigate the information asymmetry and value uncertainty to reduce IPO underpricing. High-tech industries significantly contribute to Taiwan??s economic growth. With the unique Taiwan data, we find that venture-backed IPOs are less underpriced. More importantly, IPO underpricing due to technology decreases with the use of venture capital and decreases with the interaction between R&D expenditure and technology. Technology requirement reduces the underpricing of high-R&D IPOs. Accordingly, R&D spending reduces the underpricing of high-tech IPOs.     

Panel cointegration with global stochastic trends

This paper studies estimation of panel cointegration models with cross-sectional dependence generated by unobserved global stochastic trends. The standard least squares estimator is, in general, inconsistent owing to the spuriousness induced by the unobservable I(1) trends. We propose two iterative procedures that jointly estimate the slope parameters and the stochastic trends. The resulting estimators are referred to respectively as CupBC (continuously-updated and bias-corrected) and the CupFM (continuously-updated and fully-modified) estimators. We establish their consistency and derive their limiting distributions. Both are asymptotically unbiased and (mixed) normal and permit inference to be conducted using standard test statistics. The estimators are also valid when there are mixed stationary and non-stationary factors, as well as when the factors are all stationary.     

Forecasting demands for inpatient services in a large public health care delivery system

This paper studies the use of autoregressive integrated moving average (ARIMA) time-series models for forecasting demands for inpatient services in a large public health care delivery system. Here, demands are measured in terms of monthly admissions and patient days by services and forecasts are made yearly. This paper emphasizes the implementation aspect of ARIMA models when they are used on a large scale basis in an institutional setting, and compares forecasts with actuals. For forecasting patient days, the adequacy of an indirect approach using the formula L = λW is also evaluated. Finally, we briefly describe how the forecasts are used in the context of resource allocation.     

International mutual fund selectivity and market timing during up and down market conditions

This study examines the selectivity and market-timing ability of international mutual fund managers. Ninety-seven international mutual funds with a minimum of five-year return history selected from the Morningstar OnDisc database are analyzed. Our findings suggest that managers of international mutual funds possess good selectivity and overall performance. We also find weak evidence of poor market-timing ability. Consistent with prior findings from domestic mutual funds, there is a negative correlation between the international fund managers' selection ability and market-timing ability. Finally, managers for Europea funds show poorer performance than those managing the other three international fund groups.     

Time-varying inter-market linkage of international stock markets

As a response to the growing concern on the interconnection of international stock markets, this study uses the Peña–Box model to capture time-varying relationship of the returns of 13 stock indices during 1993–2002. The results indicate a dynamic relationship of world major stock markets over time, which provide new but supplemental evidence on the conclusion derived from the conventional confirmatory factor analyses in literature.     

忍者精神对日本国民性的影响

忍者精神是对日本忍者具有的顽强坚韧、忠诚和勤劳勇敢的特点和精神的总称。忍者精神对于日本民族精神塑造和民族心理的积淀有深远的影响,同时也带来一些消极影响,如使日本人性格冷酷、等级观念森严等。国民性格是一国国魂所系,是国家凝聚力的深层力量,值得我们研究探讨。本文主要探讨忍者精神对日本国民性产生的影响。     

Oligopoly, Financial Structure, and Resolution of Uncertainty

We characterize equilibria of a multistage game in which competing duopolists may acquire and share information in advance of choosing their financial structure which, in turn, precedes production. Given sufficient uncertainty, equilibria exist in which the efficiency and, possibly, coordination gains to acquiring and sharing perfect information are sufficient to break Brander and Lewis's (1986) result wherein both firms issue debt to their mutual disadvantage. However, more interesting may be the robustness of that result when uncertainty is low or when information is imperfect. The key insight is that the consequences of issuing debt are invariant to the level of uncertainty, given that firms can recalibrate the terms of debt to achieve the Stackelberg solution.