Orbit and spectrum resource strategies: Third World demands

This article considers alternative strategies for managing orbit and spectrum resources by, first, identifying major factors that constribute to rising Third World demands and, second, reviewing the alledge economic coast of orbit spectrum planning, as well as economic distortions attributed ‘to first come, first served’. Within these bounds, the article concludes by examining some promising strategies for how both developed and developing nations may reconcile their seemingly divergent interests.     

Risk measurement when shares are subject to infrequent trading: Comment

When securities are thinly traded OLS techniques yield biased beta estimates. Procedures for calculating consistent estimates are proposed by Scholes and Williams (1977) and by Dimson (1979). This comment examines both procedures and concludes that the Dimson procedure is incorrect and cannot generally be expected to yield consistent beta estimates. However, a variant of this procedure can yield results which are identical to Scholes and Williams' and is, therefore, correct.     

从改进到创新的快速转变

FPA案例背景 本文是FPA（Financial Planning Associates,财务策划协会）系虚构公司,是一家向个体投资者提供理财和票据贴现服务的小型公司。公司发现了一种正在增长的南郊者细分市场,     

Exchange rate sensitivity of commodity flows between the Philippines and the US

Previous studies that tried to assess the impact of exchange rate changes on the inpayments and outpayments of a country used aggregate trade flows between two countries. They are said to suffer from aggregation bias, and disaggregation by industry is recommended. In this paper, we consider response to exchange rate changes of export earnings (inpayments) of 133 industries that export from the US to the Philippines (Philippines’ importing industries) and outpayments of 65 US industries (Philippines exporting industries) that import from the Philippines using annual data over the period 1973–2012. While in most industries exchange rate changes had significant effects in the short run, the short-run effects did not last into the long run in most industries. Economic activity played more role in the long run than the exchange rate.