Foreign aid and fiscal behavior in a bounded rationality model: Different policy regimes

We examine how the source of foreign aid affects the composition of the recipient government's spending. Does the source of aid – bilateral or multilateral – influence recipient policy-makers' choice between development and nondevelopment expenditure? We depart from previous literature by introducing strong asymmetries in policy-makers' preferences. With the financial constraints set by foreign aid and domestic revenues, this formalization allows us to model and estimate the fiscal behavior of government policy-makers in the presence of foreign aid.     

The Evolution of Poverty in Nigeria 1985–92

In this note an alternative method for decomposing poverty changes over time is proposed and applied to Nigeria for the years 1985 and 1992. It is shown that the established method of decomposition which holds the poverty line constant at the reference period of the decomposition overestimates the size of the `growth component’ of any poverty change. The conclusion reached by applying the original decomposition method of Datt and Ravallion (1992) is changed completely if the proposed method is applied. Cette note propose et applique au Nigeria pour les années 1985 et 1992, une méthode différente de décomposition de l’évolution de la pauvreté dans le temps. Elle montre que la méthode de décomposition établie, qui maintient constants les seuils de pauvretéà la période de référence, surestime la taille de la “composante croissance” de l’évolution de la pauvreté. En appliquant la méthode proposée, on aboutit à une conclusion radicalement différente de celle de la méthode traditionelle de Datt et Ravallion.     

Capital market impact of product marketing strategy: Evidence from the relationship between advertising expenses and cost of capital

To analyze the prospect of a firm’s advertising decision affecting shareholder wealth, this article investigates the relationship between a firm’s advertising expenditure and the market-imposed weighted average cost of capital. For a sample of U.S. firms, the results show that advertising expenditure is negatively related to the cost of equity and positively related to debt utilization, resulting in a lower weighted average cost of capital. A higher debt level, however, associates with a lower level of financial strength. In addition, and plausibly by lowering the cost of capital through product market advertising, firms with higher advertising expenditure experience higher performance in terms of market value added. Manohar Singh (msingh@willamette.edu) is an associate professor of finance at Willamette University in Salem, Oregon. He holds a Ph.D. in finance from Southern Illinois University at Carbondale. His published research includes publications in theJournal of Banking and Finance, Financial Review, theJournal of Multinational Financial Management, and thePacific Basin Finance Journal, among others. His research interests include corporate governance and corporate finance and strategy. Sheri Faircloth (fairclos@unr.nevada.edu) is an associate professor of finance at the University of Nevada at Reno. She holds a Ph.D. in finance from the University of Texas at Arlington. Her research interests include corporate finance, investments, and real estate finance. She has published in finance journals such as theJournal of Real Estate Finance and Economics, theJournal of Real Estate Literature, Review of the Academy of Finance, theJournal of the Academy of Finance, andApplied Economics. Ali Nejadmalayeri (aliala@unr.edu) is an assistant professor of finance at the University of Nevada at Reno. He holds an M.B.A. from Texas A&M University and a Ph.D. in finance from the University of Arizona. He has published in finance journals such as theJournal of Business, theJournal of Real Estate Finance and Economics, and theJournal of Multinational Financial Management. He was awarded the College of Business Researcher of the Year Award for 2004.     

The Effect of a Market Orientation on Business Performance: A Study of Small-Sized Service Retailers Using MARKOR Scale

Conventional marketing wisdom holds that a market orientation provides a company with a better understanding of its customers, competitors, and environment, which subsequently leads to superior firm performance. While researchers have explored the relationship between market orientation and business performance in different organizations, such studies in small-sized service retailers are scarce. This study investigates potential influences of market orientation on small-sized service retailer performance. Data for this study were collected through personal interviews, and Kohli, Jaworski, and Kumar's market orientation scale was used to specify the dimensions of a market-oriented organization. Results indicated that Kohli, Jaworski, and Kumar's market orientation scale provided a good measure of market orientation in this setting. Also, the results of analyses indicated a significant link between market orientation and small-sized service retailer performance. The managerial implications are discussed.     

The Harris-Todaro hypothesis and the Heckscher-Ohlin-Samuelson trade model : A synthesis

We report a model of the Harris-Todaro variety in which capital is mobile and the urban wage is endogenous. Our model subsumes several other models presented in the literature. We extend the central theorems of trade to our model and also present formulae for the shadow wage and shadow rental. Our principal findings include (a) nonexistence of equilibrium in an important specialization of the model; (b) a factor-price and unemployment rate equalization theorem: and (c) an identical subsidy to labor but a differential subsidy to capital for obtaining a second-best optimum.     

International trade and economic growth: evidence from a panel ARDL-PMG approach

The purpose of this work is to study the impact of trade openness on the economic growth of the countries bordering the Mediterranean using a panel of eight countries from 1975 to 2016. We apply ARDL panel which is a technique recently developed. We study the effects of openness to international trade on economic growth while incorporating economic policy variables. The results show that the variables of commercial and financial openness favor economic growth. The free trade agreements that the European Union has signed with certain countries in the Mediterranean basin are designed above all to encourage greater regional economic integration and an increase in their potential growth. Therefore, our findings show that the financial sector is slow to affect economic growth in these countries. This study reveals that human capital and the investment rate support the economic growth of our sample. In addition, we conclude that a process of economic convergence has begun in these countries. A causal analysis was carried out we found an unidirectional causality ranging from economic growth to trade openness.

     

Ad avoidance in the digital context: A systematic literature review and research agenda

The recent growth in digital marketing investments and revenues has attracted the attention of both marketing practitioners and scholars. However, this growth has dramatically increased users' exposure to ad messages, encouraging consumers to avoid them. Therefore, ad avoidance has become a major problem for marketing practitioners. Although researchers have become much more interested in this subject over the past two decades, the body of knowledge on ad avoidance in the digital environment remains fragmented due to the lack of a comprehensive review. Therefore, a holistic overview study is needed that focuses on the big picture and can help researchers to understand the literature comprehensively. This study aims to provide a comprehensive understanding of the topic using a systematic literature review approach on digital ad avoidance. To this end, we provide an in-depth content analysis of 56 relevant articles published in 31 peer-reviewed scientific journals up to December 31, 2021. Based on a theories, contexts, characteristics, and methods (TCCM) framework, the study results shed light on ‘what do we know, how do we know, and where should research about digital ad avoidance research be heading?’ Additionally, drawing on the content analysis, we have presented an integrative framework that considers antecedents, outcomes, mediators, and moderators, which can help develop the field systematically and guide future research. By doing so, we think this review meets the need to give an overview of the state-of-the-art scientific body of knowledge on digital ad avoidance and makes important and solid contributions to the literature, practical implications, and future research directions based on the findings.     

‘If there is nothing else there is teaching’: Professional identity of preservice teachers in Pakistan

Coupled with developing required knowledge, skills and attitude, preservice teacher education is said to influence professional identity of a student teacher. This research aimed to understand professional identity development of prospective teachers who recently completed their 4-year preservice teacher education programme in a public university in Pakistan. To achieve the stated purpose, the research used a case study approach and collected data through semistructured interviews from five preservice teachers who recently completed their preservice education. The data suggested that moral purpose in teaching was the most influential factor in teacher identity development in this region. In addition, the status of teachers in the region, teaching practice, workplace relationships and prospective teachers' own agency influence the way they shape and reshape their professional identity. Although unexplored through a systematic research, teacher identity has been a frequently discussed topic in the context of Pakistan. This paper reports the voices of unheard and less recognized individuals (teachers) from a remote region of Pakistan. It brings forth some significant insights such as the moral purpose of teaching that has received limited attention in teacher identity development.     

一种双精度除法运算的方法

本文以ＴＭＳ３２０Ｃ２５信号处理器为例，介绍一种用单字节的运算程序实现双精度除法运算的方法，在保证精度的条件下，使程序编制简单、方便。