Transit market research using structural equation modeling and attitudinal market segmentation

This paper presents a comprehensive approach for identifying potential transit markets and for developing strategies to increase public transport ridership. The approach uses structural equation modeling (SEM) to identify simultaneously travelers’ attitudes, travel behavior, and the causal relationships between a traveler's socioeconomic profile and his/her attitude toward travel. Travel attitudes are also used to identify distinct market segments and to develop plans that best serve the needs of each segment and increase transit ridership. The approach is demonstrated with a case study from the Utah Transit Authority.     

Human capital and financial equilibrium

This article investigates the effect of incorporating human capital—an expansion of the investment opportunity set—into the analysis of portfolio investment decisions. The “production function” of human capital displays decreasing returns to scale. The return on human capital is a product of two factors: a “market” return and return unique to each individual. Financial equilibrium results are derived and tested empirically using U.S. data and an international sample. The main findings are that demand for financial assets relates positively to human capital risk and negatively to financial capital risks.     

On measuring serial correlation: Implications for finance and accounting research studies

Accounting and finance studies that measure serial correlation implicitly make two assumptions. One, the studies assume that the sample estimate of the autocorrelation coefficient is unbiased. The assumption is intuitively appealing, but incorrect. This article provides a measure of the size of the bias. Two, the studies assume that the target of the time series is constant over time. However, over a long period target values may change. This article models the general case in which not only do random shocks affect actual values, but also random changes affect target values.     

Autonomy and Effectiveness of Equity International Joint Ventures (EIJVs): An Analysis based on EIJVs in Hungary and Britain

The paper utilizes data collected from 34 equity international joint ventures (EIJVs) located in Hungary and 49 EIJVs located in Britain to examine the effects of autonomy on EIJV effectiveness. Study results suggest that for the total sample, permitting an EIJV to develop local HRM policies and to implement business plans independently contribute to EIJV effectiveness. Additionally, there is a positive correlation between EIJV age and effectiveness. When the samples are broken up, the results are consistent except that developing local HRM policies is not a significant factor with respect to EIJV effectiveness in Hungary. The paper contributes to the literature by demonstrating that autonomy is a multidimensional construct and by providing initial support for the development of a theory relating EIJV autonomy to effectiveness based on a hierarchy of autonomy measures. The paper also suggests a model of relative recommended autonomy levels for different EIJV activities.     

Experimental elicitation of ambiguity attitude using the random incentive system

Experimental Economics - We demonstrate how the standard usage of the random incentive system in ambiguity experiments eliciting certainty and probability equivalents might not be incentive...