A Switching Regime Approach to Measuring the Effects of Technological Change in Ocean Shipping

this study examines the dramatic change in production technology of the U.S. ocean liner shipping industry over the period 1971 through 1982 using panel data on 15 subsidized U.S.-flag liner firms. To estimate the changes in the production function due to the new technology, the switching regime method of Goldfeld and Quandt is applied to a translog variable profit function. Three regimes based on the proportion of the new technology reflected in a firm's fleet are identified. The constant returns to scale fleet size more than doubles across the three regimes.     

What a Mess! Participation as a Simple Managerial Rule to 'Complexify' Organizations

This paper adopts a view of organizations as complex adaptive systems and makes a case for making organizations more complex internally through the use of a fairly simple managerial rule – using participative decision making. Participation in decision making enhances connectivity in organizations, which in turn, gives the organization the opportunity to self-organize and co-evolve in more effective ways than when there is minimal connectivity (i.e., autocracy). The paper uses a specific body of research to support the arguments about why participation can benefit the practice of management in modern organizations.     

Linkages between minority business characteristics and minority banks’ locations

This study presents evidence regarding differences in the financial characteristics of minority business enterprises (MBEs), contingent upon whether or not they are currently located in markets which contain minority banks. We employed Dun and Bradstreet financial data for the period 1975–83. We concluded that, on average, MBES not located in markets with minority banks were larger than the bank-related MBES, laid greater emphasis on fixed assets, and financed their businesses with more equity. The bank-related MBES apparently had greater access to debt financing and operated with greater liquidity.     

Replacing Corporate Income Tax with a Cash Flow Tax

We design a parsimonious cash flow tax for Australia and estimate revenue effects. It allows immediate deduction of all capital expenditures, denies deductions of interest payments, and compensates negative cash flows at the same rate and time as it taxes positive cash flows. It allows taxpayer timing choice on implementation over 10 years. It has incentive effects comparable to lowering the corporate income tax rate to zero. It removes distortions that artificially favour debt over equity, short- over long-term investments, rents over competitive returns, large, established over small and new businesses, and conventional over innovative investments. It closes international tax evasion loopholes. Its spur to investment and timing of revenue impacts favours implementation in recession.     

Conglomeration: Growth and Techniques

A look at the merger movement in the United States from its beginnings in the early 'fifties to its peak in 1968.     

Stewardship and economic organization: The ethical emphasis in business

Never before has the American business community been challenged to justify and support its ethical standards as today. Hearings before government agencies, attacks by public interest groups, and emphasis on consumer interests have raised serious questions concerning the moral code of industry, the social responsibility of the business community, and what lies ahead for the business firm as it behaved in the past. Somehow much of the public believes that corporate responsibility has been compromised, and that regard for profits has become a way of life that overlooks humane and societal considerations. Management must recognize that it is invested with a definite ethical and moral, as well as legal, responsibility to demonstrate the highest traits of business leadership in its stewardship role. Anything short of such a standard may be catastrophic for the future of the American enterprise system.     

Healthcare utilization and costs associated with COPD among SEER-Medicare beneficiaries with NSCLC

Aim: To estimate the healthcare utilization and costs in elderly lung cancer patients with and without pre-existing chronic obstructive pulmonary disease (COPD).

Methods: Using Surveillance, Epidemiology and End Results (SEER)-Medicare data, this study identified patients with lung cancer between 2006–2010, at least 66 years of age, and continuously enrolled in Medicare Parts A and B in the 12 months prior to cancer diagnosis. The diagnosis of pre-existing COPD in lung cancer patients was identified using ICD-9 codes. Healthcare utilization and costs were categorized as inpatient hospitalizations, skilled nursing facility (SNF) use, physician office visits, ER visits, and outpatient encounters for every stage of lung cancer. The adjusted analysis was performed using a generalized linear model for healthcare costs and a negative binomial model for healthcare utilization.

Results: Inpatient admissions in the COPD group increased for each stage of non-small cell lung cancer (NSCLC) compared to the non-COPD group per 100 person-months (Stage I: 14.67 vs 9.49 stays, p?<?.0001; Stage II: 14.13 vs 10.78 stays, p?<?.0001; Stage III: 28.31 vs 18.91 stays, p?<?.0001; Stage IV: 49.5 vs 31.24 stays, p?<?.0001). A similar trend was observed for outpatient visits, with an increase in utilization among the COPD group (Stage I: 1136.04 vs 796 visits, p?<?.0001; Stage II: 1325.12 vs 983.26 visits, p?<?.0001; Stage III: 2025.47 vs 1656.64 visits, p?<?.0001; Stage IV: 2825.73 vs 2422.26 visits, p?<?.0001). Total direct costs per person-month in patients with pre-existing COPD were significantly higher than the non-COPD group across all services ($54,799.16 vs $41,862.91). Outpatient visits represented the largest cost category across all services in both groups, with higher costs among the COPD group ($41,203 vs $31,140.08).

Conclusion: Healthcare utilization and costs among lung cancer patients with pre-existing COPD was ～2–3-times higher than the non-COPD group.     

Accounting for the Influence of Overall Justice on Job Performance: Integrating Self‐Determination and Social Exchange Theories

Grounded in self‐determination and social exchange theories, this study examined two pathways through which overall justice influences job performance. Specifically, we hypothesized need satisfaction as a mediator of the influence of overall justice on intrinsic motivation and trust in organization which, in turn, relate to job performance. Results of structural equation modelling using Mplus revealed that need satisfaction mediated the overall justice–intrinsic motivation relationship as well as the overall justice–trust in organization relationship. We also found that intrinsic motivation mediated the respective influence of need satisfaction and trust in organization on job performance. We interpret our findings as suggesting an integration of need‐based theories of motivation into explanations of the performance implications of justice.     

Accounting for variable stock options

A survey of nine accounting textbooks reveals that only three include the correct procedures for accounting for Variable Stock Option Plans as set forth in FASB Interpretation 28. Two books incorrectly teach the method used for changes in accounting estimates required by APB Opinion 20, and four do not address this unique exception to APB Opinion 20. This last group functionally allows the user to believe that the general rule outlined in APB Opinion 20 applies.