A Conditional Approach to Measure Mortality Reductions Due to Cancer Screening

The prevailing lack of consensus about the comparative harms and benefits of cancer screening stems, in part, from the inappropriate calculations of the expected mortality impact of a sustained screening programme. There is an inherent, and often substantial, time lag from the time of screening until the resulting mortality reductions begin, reach their maximum and ultimately end. However, the cumulative mortality reduction reported in a randomised screening trial is typically calculated over an arbitrarily defined follow‐up period, including follow‐up time where the mortality impact is yet to realise or where it has already been exhausted. Because of this, the cumulative reduction cannot be used for projecting the mortality impact expected from a sustained screening programme. For this purpose, we propose a new measure, the time‐specific probability of being helped by screening, given that the cancer would have proven fatal otherwise. This can be decomposed into round‐specific impacts, which in turn can be parametrised and estimated from the trial data. This represents a major shift in quantifying the benefits due to a sustained screening programme, based on statistical evidence extracted from existing trial data. We illustrate our approach using data from screening trials in lung and colorectal cancers.     

Management Speaks,Investors Listen: Are Investors Too Focused on Managerial Disclosures?

Market regulators are concerned about the completeness of management-provided explanations in financial reports and other venues. In particular, the Securities and Exchange Commission has articulated the growing problem of firm managers selectively emphasizing information that is favorable to their firm's financial status. In this two-experiment study, we examine whether investors are adversely influenced when firm managers provide only a partial explanation for a firm's financial outcomes, even though the investors have information about all of the causes for a firm's financial outcomes. Our results reveal that investors are misled by partial management explanations. We demonstrate that this effect occurs in situation both when qualitative information is known about the causes and when quantitative information is known about the causes. We document that one way in which this overreliance on management-provided partial information can be mitigated is when investors are provided with a quantitative analysis of the management explanation; with this quantitative analysis we observe that investors are able to distinguish between partial and complete explanations. Our study has implications for regulators and researchers.     

Interpersonal Targets and Types of Workplace Aggression as a Function of Perpetrator Sex

We investigated the relationship between biological sex of the perpetrator and enactment of two forms of psychological workplace aggression (i.e., overt and covert) against two different interpersonal targets (i.e., supervisors and co-workers). Based on theories of power, we tested hypotheses using two samples (n ₁  = 155, 57% females; n ₂  = 152, 54% females). In comparison to women, results showed that men enacted greater levels of overt aggression against both supervisors and co-workers. Men and women reported enacting equal levels of covert aggression against both supervisors and co-workers. Taken together, these findings suggest that although biological sex of the perpetrator distinguishes levels of enacted overt aggression in the workplace, there are no differences between the sexes on levels of enacted covert aggression in the workplace.     

How Green are Exporters?

There is a well‐established theoretical and empirical literature that shows that exporters are more innovative than otherwise equivalent non‐exporters. In this article, we ask whether this is also true when it comes to the effects of adopting greener production techniques. Using an instrumental variables strategy based on UK firm level data, we find robust evidence that exporters are more likely to report their innovation as having a ‘high/very high’ environmental effect.     

The Costs of Power Interruptions in Germany: A Regional and Sectoral Analysis

A high standard of security of electricity supply comes at serious electricity system costs. However, these system costs have to be balanced with the economic costs induced by an insecure supply of electricity. Following a macroeconomic approach, we analyze the economic costs imposed by potential power interruptions in Germany. Using an extensive dataset on industries and households, we estimate both Values of Lost Load and the associated hourly costs of power interruptions for different German regions and sectors. We find that interruption costs vary significantly over time, between sectors and regions. Peaking at midday on a Monday in December at 750 Mio € per hour, the average total national outage costs amount to approximately 430 Mio € per hour. A missing gigawatt hour creates average outage costs of about 7.6 Mio €.     

Professional Development Barriers and Benefits in a Tourism Knowledge Economy

This study investigates small to medium tourism enterprise (SMTE) owner–managers' intentions to seek professional development. SMTEs in a regional tourism destination were surveyed, and an exploratory factor analysis identified barriers to, and benefits of, professional development factors. Logistic regression analysis was used to predict SMTE owner–manager's intention to pursue professional development based on perceived benefits of and barriers to training factors, education level and business size. ‘Staff performance benefits’ and ‘time/cost barriers’ of owner–manager's intention to seek professional development opportunities for staff. ‘Business performance benefits’ predicted owner–manager's intentions to seek professional develop for themselves. Implications of the findings are discussed. Copyright © 2015 John Wiley & Sons, Ltd.     

The First and Second Stage Pass‐through of Exchange Rates: A Developing Country Perspective

This paper investigates the validity of the conventional wisdom that, unlike in developed countries, exchange rate pass‐through (ERPT) should be ‘complete’ for developing economies. To test this hypothesis, we construct new variables as well as original data sets, which are not readily available in the literature, and employ an alternative error correction model technique for a typical small open developing economy—Bangladesh. The transmission of exchange rate movements to import prices is found to be ‘complete’; however, the ‘second stage pass‐through’ is ‘partial’ both in the short and long run. The response of traded goods prices to exchange rate shocks is found to be significant and larger in the long run compared with the short run. Trade liberalization is also a significant phenomenon for ERPT. The analysis has wider applicability to other small open economies.