The Effects of Open Market Operations in a Model of Intermediation and Growth

This article presents a monetary growth model where spatial separation and limited communication create a role for banks. Monetary policy interacts with the financial system's liquidity provision to affect the existence, multiplicity, and dynamical properties of equilibria. Moderate levels of risk aversion and tight monetary policy can lead to multiple steady states. Dynamical equilibria can be indeterminate, with oscillatory paths. Thus financial market frictions are a source of indeterminacies and endogenous volatility. Under plausible conditions, tight monetary policy raises the nominal interest rate and inflation rate and reduces long run output. Thus, a central bank's liquidity provision can promote growth.     

An investigation of the short‐ and long‐run relations between executive cash bonus payments and firm financial performance: a pitch

This letter is a discussion of the application of the pitch template developed by Faff (2015) to a financial accounting research topic. The pitch template focuses ideas into key areas, giving clear and concise direction in planning and structuring the research idea. In this instance, the template is used in a nonlinear manner to develop a research proposal to investigate the relation between cash bonus payments and firm financial performance.     

Using sublexical priming to enhance brand name phonetic symbolism effects in young children

We examine whether phonetic symbolism effects are conditional on the development of phonological awareness (an ability to recognize sounds in words). Further, we introduce sublexical priming as a means to enhance phonetic symbolism effects. Across four experiments, we demonstrate that product evaluations, consistent with phonetic symbolism theory, are more (less) likely when a child is older (younger). Specifically, older children who can recognize sounds in words perceive back vowel brand names (e.g., Vopoz) as slower, heavier, larger, smoother, creamier, chewier, and thicker than brand names with front vowel sounds (e.g., Vipiz). In addition, we show that phonetic symbolism effects manifest when younger children (low in phonological awareness) are primed to focus on parts of a word/s, which we term sublexical priming. We present embedded tasks and chunking of brand names as strategic communication techniques that can be implemented as sublexical primes to enhance phonetic symbolism effects in younger children.     

Capital market efficiency and the relationship between equity returns, interest rates, and monetary aggregates in Australia

This paper examines the efficiency with which the Australian share market incorporates new information relating to interest rates and the monetary aggregates into share prices. It finds a strong relationship between medium term government security yields and equity returns although little relationship could be found between unanticipated changes in the monetary aggregates and share returns. Furthermore, the interest rate relationship involved long lags and suggests inefficiency in stock market pricing in Australia.     

Examining children's preference for phonetically manipulated brand names across two English accent groups

Replicating Shrum et al. (2012), we demonstrate that individuals display a preference for brand names that contain vowel sounds that connote product attributes. We also illustrate the impact of accent and phonological development on the nature and presence of phonetic symbolism respectively. With no known studies examining the role of accent, it is suggested that this research makes a unique contribution, offering an alternative perspective on current global phonetic symbolism research.     

Women on boards of directors: Why skirts in seats aren’t enough

Most organizations focus their attention on simply achieving gender diversity on their boards. This approach misses the point. A complex relationship exists between board gender diversity and good governance whereby such diversity can have a negative, positive, or neutral impact on organizational performance, indicating that organizations may only reap the benefits of gender-diverse boards under proper conditions. This article examines which conditions allow gender-diverse boards to flourish and which conditions lead to failure. Organizations usually increase female representation on boards of directors to achieve one of two goals: gender parity or improved governance. Each of these goals is influenced by different circumstances and thus must be approached in a unique manner. Three recommendations are offered herein for organizations trying to achieve each goal. Gender, ethnic, and cultural board diversity all share related justifications and challenges, so organizations that follow the recommendations in this article will be well positioned to benefit from all three sources of increased diversity on their boards of directors.     

Why Markets in Proto-Deceptive Goods Should Be Restricted

In recent years there has been much philosophical discussion over the question of whether the prohibitions on markets in such items as human body parts and gene sequences, and services such as human reproductive labor and sex, should be lifted. Yet despite the attention paid to this issue there are been surprisingly little discussion of the question of whether markets in certain items that are currently freely traded should be restricted or eliminated. In particular, there has been little discussion of the question of whether markets in items that could be readily used to deceive people should be restricted. I argue in this paper that one of the central moral values of the contemporary West – respect for personal autonomy – requires that such markets be restricted.