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71.
Housing Density and the Effect of Proximity to Public Open Space in Aberdeen, Scotland 总被引:1,自引:0,他引:1
We consider whether public recreational open space is a substitute for private open space by testing whether price effects from proximity to an urban park are increasing in housing density. Aberdeen, Scotland features three owner-occupied residential property types: detached housing, nondetached housing and flats. We examine property sales within 800 m of five city parks. We find flat prices increase with additional proximity to parks, but there are generally no price effects from park proximity for lower density housing types. The results suggest that open space policy must consider the scale and density of surrounding urban development. 相似文献
72.
When the leader of a firm commits a professional transgression, how would customers’ judgments of the transgressor's professional performance and immorality differ from those of noncustomers’? This research answers this question by investigating factors that explain the discrepancy in moral judgments between noncustomers and customers affiliated with the firm of a transgressing leader. Drawing on construal level theory, our two experimental studies consistently demonstrate that relative to high social distance (i.e., noncustomers), low social distance (i.e., customers) leads to more positive judgments of the transgressor's professional performance, but differences in the social distance do not directly lead to disparities in judgments of immorality. Social distance, however, affects both performance and immorality judgments when mediating mechanisms (conscious and nonconscious moral reasoning) are accounted for, such that low social distance indirectly influences customers to be more lenient in not only their performance judgments but also their immorality judgments. This research contributes to the topic of morality that permeates the current discourse on ethical business transgressions and, in particular, to an understanding of specific mechanisms that guide consumers’ moral judgments. 相似文献
73.
David A. Ralston Carolyn P. Egri Liesl Riddle Arif Butt Tevfik Dalgic David M. Brock 《International Business Review》2012,21(3):480-492
Our study of the cultural values of managers in the Greater Middle East uses a unique sample of 989 respondents across seven countries (Algeria, Egypt, Israel, Lebanon, Pakistan, Turkey, and the UAE). The primary focus of our paper is the assessment of the differences and similarities in collectivism, individualism, and universalism values within the region. While acknowledging that the empirical research foundation for the Middle East is minimal, we develop directional hypotheses based upon the historic socio-cultural influences and contemporary economic and political factors that may influence business ideology. In sum, our findings show significant between-country differences for all three of these values dimensions. We conclude with a discussion of these differences and why they may have occurred. We also provide suggestions for new avenues of research that our findings indicate are relevant. 相似文献
74.
Does coethnicity with the President affect public infrastructure provision in South Africa? Using municipal-level data for 52 district municipalities from 1996 to 2016, we find that municipalities coethnic with the President are associated with higher water infrastructure provision relative to non-coethnic municipalities. Taking into account various political considerations, results show that ethnic favouritism occurs due to ethnic altruism. Our findings remain robust to different specifications of coethnicity thresholds and are applicable to electricity infrastructure provision. Results suggest that in order to minimise ethnic favouritism, politically independent institutions should oversee the allocation of funding and provision of infrastructure. 相似文献
75.
Colwell Peter F. Dehring Carolyn A. 《The Journal of Real Estate Finance and Economics》2001,23(1):95-112
This study considers the alternatives available for transferring agricultural property on the urban periphery. The model examines the conditions under which market participants sell or exchange farmland. Contrary to popular opinion, we find that simultaneous exchanges are still feasible in the presence of delayed exchanges, particularly when the relinquished property is very large. The model also explains the observed phenomenon that the sellers of agricultural property get replacement properties of lesser market value in exchanges. 相似文献
76.
This paper analyzes the economic contributions of Daniel L. McFadden and James J. Heckman, who were awarded the Nobel Prize in economic science in 2000. McFadden's analytical work on discrete choices and related theory brings economic tools to bear on policy questions that previously had not been empirically investigated. The multinomial logit and similar models developed by McFadden enable researchers to empirically model factors that affect individual choices (e.g. of travel mode, occupation or employment, and residential location) with discrete outcomes. Heckman's research on selective samples demonstrates the difficulty of achieving generalizable results in analyses of choice-based behavior. In addition, his work on the evaluation of social programs has challenged conventional beliefs about the infallibility of experimental evaluation results and explored the limits and potential of non-experimental methodologies in a range of social science applications. 相似文献
77.
Although the primary purpose of hedging is to reduce earnings volatility, corporate hedging may also increase firm value. Using publicly-available data, we found that hedging reduces the probability of financial distress, reduces the agency costs of debt, and reduces some agency costs of equity. However, we found no support for the hypothesis that hedging increases firm value by reducing expected tax liability. In addition, we suggest that corporate ownership structure may affect the desirability of hedging. We also found that large firms have a stronger tendency to hedge, firms with a larger percentage of value derived from growth opportunities are more likely to hedge, and convertible debt serves as a substitute for corporate hedging. With a dummy variable for multinational corporations as a proxy for operational hedging, we found that operational hedging and derivative hedging are complements rather than substitutes. 相似文献
78.
79.
High levels of occupational specialization, problems of cross-functional integration and distinct bureaucratic tendencies have traditionally been seen as problems endemic to British management practice. Over the last decade, these problems are expected to have disappeared - or at least diminished - as major developments in management and organizational theory, as well as changing economic circumstances, have redirected management thinking towards ‘new’ ideas of flatter, simpler organizational structures, increased flexibility and decentralization, improvements in the quality of inter-functional relations and the like. Yet, despite these developments, there is comparatively little research that has investigated actual patterns of change within management and, in particular, what is happening in what could be regarded as the mainstream of British industry - namely, ‘ordinary’, medium-sized firms operating in ‘traditional’ industrial sectors. Moreover, rarely does such research focus upon the implications of management change for the strategies of professionalization adopted by competing specialist occupational groups within management. This paper sets out to help fill these gaps, by reporting the findings from case studies of four such firms, taking into account the particular contexts and historical circumstances that have helped shape any such change and drawing out the key influences on changed management practice. 相似文献
80.
Carolyn W. Chang 《The Journal of Financial Research》1995,18(3):351-381
This study presents a jump-diffusion valuation framework using the no-arbitrage martingale approach. Equilibrium conditions needed to support a jump-diffusion pricing standard process are derived. The results are a generalized jump-diffusion security market line and its corresponding equilibrium valuation relation that prices both jump and diffusion risk. To value options, a fundamental formula is derived that includes existing jump-diffusion option valuation formulas as special cases. 1 find Merton's (1976a) assumption of diversifiable jump risk to be consistent with no-arbitrage only when the aggregate consumption flow does not jump. Simulation shows that Merton's formula undervalues/overvalues options on hedging/cyclical assets. When the jump arrival frequency is larger, the mispricing is larger/smaller for in-the-money/out-of-the-money options. 相似文献