Public Investment, Congestion, and Private Capital Accumulation

This paper analyses the impact of public investment on the dynamics of private capital formation in an intertemporal optimising market-clearing framework. The key feature characterising the analysis is that the public good is treated as a durable capital good, subject to congestion. We show how in the presence of congestion the effect of government investment on private capital formation involves a tradeoff between the degree of substitution between private and public capital in production and the degree of congestion. Both lump-sum and distortionary tax financing are considered, with this tradeoff being tightened in the latter case     

Internal governance mechanisms and firm performance in China

Corporate governance issues arising from concentrated ownership structure in emerging economies have received growing attention. Adopting a principal–principal perspective, this paper employs structural equation modeling to evaluate the independent and interdependent effects of internal governance mechanisms in enhancing firms’ value in China. Based on a 3-year dataset covering 304 publicly listed companies over 2003–2005, our findings suggest that ownership concentration has the most significant governance effect and has impacted negatively on firm performance. Furthermore, the governance role of the board of directors and supervisory boards is found to have been hindered by ownership concentration, rendering them unable to improve firm performance at present.     

Inflation and monetary regimes

Correlations of inflation with the growth rate of money increase when data are averaged over longer time periods. Correlations of inflation with the growth of money also are higher when high inflation as well as low-inflation countries are included in the analysis. We show that serial correlation in the underlying inflation rate ties these two observations together and explains them. We present evidence that averaging increases the correlation of inflation and money growth in more when the underlying inflation rate has higher serial correlation.     

Young adults’ consideration of their food choices a propos consequences for their future health

Many researchers have devoted much time and effort to explain the undesirable health outcomes associated with an excessive intake of certain types of fast foods. Particularly vulnerable, are young adults who move out of their parents' homes to live on their own, and then begin to rely on the multitude of so‐called “food away from home” options which are convenient, available and even desirable in their social circles. This study investigated young adults' consideration of the consequences of their consumption of food eaten away from home due to concern about unacceptable habitual behaviour that might negatively affect their future households. The survey involved 395 young adults up to 25 years of age who completed a structured questionnaire which relied on an established Consideration of Future Consequences scale. Data analysis involved exploratory factor analysis, t‐tests and Anova. Findings revealed some concern about the immediate consequences of respondents' fast food consumption, but concern about the future consequences seemed rather distant in their minds. Although significant differences were confirmed within gender and among population groups with regard to immediate concern about their fast food consumption, the means were nevertheless low throughout indicating that much needs to be done to sensitize young people about every day food consumption that might have dire consequences for their future health.     

A Rose by Any Other Name: Identity and Impression Management in Résumés

Résumés provide critical information for organizations to make selection decisions and applicants with their first opportunity to influence decision makers. While résumés are intended to convey job relevant information, they also potentially provide information about applicants that could hinder their employment prospects. For example, many names give clues about an applicant’s sex or race, and previous research has shown this can have negative implications for historically disadvantaged groups. This creates an incentive for some people to engage in impression management regarding how they identify themselves in their résumé. The paper develops a typology for assessing the ethics of these attempts at impression management. Sample vignettes are provided to help explicate the proposed typology.     

THE STOCK MARKET, HOUSING AND CONSUMER SPENDING: A SURVEY OF THE EVIDENCE ON WEALTH EFFECTS

Abstract.  This paper examines the time-series and micro-econometric evidence on the relationship between stock and house prices and consumer spending. The time-series studies distinguish between short-run and long-run links between consumption, income and wealth. They allow us to identify which variables adjust to restore the long-run equilibrium in the case of a shock, and to determine the time taken by the adjustment process. The micro-econometric literature improves our understanding of the link between wealth and expenditure and distinguishes among the alternative hypotheses – of direct wealth effect, common causality and collateral channel – that have been proposed to explain this relationship. The relationship between wealth and consumer spending appears to be strong, but there is some disagreement as to its size and nature. Furthermore, there appear to be some important differences across countries, which should be allowed for by policy makers when appraising the policy implications of a change in asset prices.     

Effectiveness and safety of betrixaban extended prophylaxis for venous thromboembolism compared with standard-duration prophylaxis intervention in acute medically ill patients: a systematic literature review and network meta-analysis

Abstract

Aims: To determine the clinical effectiveness and safety of venous thromboembolism (VTE) prophylaxis using US- and Europe-approved anticoagulants relative to extended-duration VTE prophylaxis with betrixaban. Low molecular weight heparins (LMWHs), unfractionated heparin (UFH), fondaparinux sodium and placebo were each compared to betrixaban, as standard-duration VTE prophylaxis for hospitalized, non-surgical patients with acute medical illness at risk of VTE.

Materials and methods: A systematic literature review was conducted up to June 2019 to identify randomized controlled trials (RCTs) of VTE prophylaxis in hospitalized, non-surgical patients with acute medical illness at risk of VTE. Studies that reported the occurrence of VTE events (including death) and, where possible, major bleeding, from treatment initiation to 20–50?days thereafter were retrieved and extracted. A Bayesian fixed effect network meta-analysis was used to estimate efficacy and safety of betrixaban compared with standard-duration VTE prophylaxis.

Results: Seven RCTs were analyzed which compared betrixaban, LMWHs, UFH, fondaparinux sodium, or placebo. There were significantly higher odds (median odds [95% credible interval]) of VTE with LMWHs (1.38 [1.12–1.70]), UFH (1.60 [1.05–2.46]), and placebo (2.37 [1.55–3.66]) compared with betrixaban. There were significantly higher odds of VTE-related death with placebo (7.76 [2.14–34.40]) compared with betrixaban. No significant differences were observed for the odds of major bleeding with all comparators, VTE-related death with any active standard-duration VTE prophylaxis, or of VTE with fondaparinux sodium, compared with betrixaban.

Limitations and conclusions: In this indirect comparison, betrixaban was shown to be an effective regimen with relative benefits compared with LMWHs and UFH. This indicates that betrixaban could reduce the burden of VTE in at-risk hospitalized patients with acute medical illness who need extended prophylaxis, though without direct comparative evidence, stronger conclusions cannot be drawn.     

Fueling Green Dining Intention: The Self-Completion Theory Perspective

This study aims to examine how self-identity of consumers influences intention to pay a premium to consume green food. Moreover, this research investigates the relationship between recollection of past dining experience and intention to consume green food. The self-completion theory (SCT) is to explain the compensatory effects of the preference to consume green food. Exposure to environmental information demonstrates the effects of priming. Two experiments were conducted to illustrate the effects of priming and recollection of past behavior that harmed the environment of consumers. The results show that after mere exposure to information on green dining, participants preferred to consume green food (priming effects). Similar results were obtained from the experiment where participants were asked to recall their past behaviors that harmed the environment. Asking individuals to recall past behavior proved to be an effective way to motivate patrons of green dining to find a moral equilibrium (compensation effects).     

Enhancing the Accessibility of Accounting and Business Archives: The Role of Technology in Informing Research in Accounting and Business

The application of advanced digitization technologies to accounting and business archives has created new opportunities for accounting and business historians. The joint American Accounting Association and European Accounting Association Task Force (2006–2010) that examined digitization confirmed this. This paper explores these opportunities, along with some attendant challenges and cautions, with reference to the digitization of two significant archives located in Australia. The first is the archive of CPA Australia, a professional accounting association that has its beginnings in 1886 and which today has over 132,000 members. The second is the archive accumulated by the pre‐eminent accounting scholar Raymond Chambers during his long and extraordinarily productive tenure at the University of Sydney. Studies of surviving business records, biography and institutional history provide examples of scholarship that is enabled by digitization technology and which has the capacity to inform contemporary issues and debates.