The roles of accounting in collective bargaining

In this paper, the roles that accounting information appeared to play in the negotiations between a not-for-profit organization and the association representing its professional employees are described and assessed. Using a case mode of inquiry, and drawing on the industrial relations and recent accounting literature, the paper explores the impact of accounting on both the process and outcome of the negotiations, and concludes by offering some tentative hypotheses on the roles of accounting in collective bargaining.     

An Investigation of Transactions Data for NYSE Stocks

Using transactions data, the behavior of returns and characteristics of trades at the micro level is examined. A minute-by-minute market return series is formed and tested for normality and autocorrelation. Evidence of differences in return distributions is found among overnight trades, trades during the first 30 minutes following the market opening, trades at the close, and trades during the remainder of the day. The latter distribution is found to be normal. Unusually high returns and standard deviations of returns are found at the beginning and the end of the trading day. When the beginning-and end-of-the-day effects are omitted, autocorrelation in the market return series is reduced substantially. A number of patterns in trading are reported.     

Textile marketing: a status report

This exploratory study investigated the status of textile marketing in the United States by (a) examining the textile industry's use of effective marketing techniques, and (b) identifying common problems and needed improvements in textile marketing. The procedure followed these steps: (a) effective marketing techniques were identified, (b) interviews were conducted with nine textile executives and four individuals representing the United States textile industry at large, and (c) the respondents' statements about textile marketing practices were analysed for evidence of effective marketing techniques, common textile marketing problems and needed inprovements in textile marketing. The results indicated that only five of the thirteen respondents described textile firms that were using effective marketing techniques, but some textile firms were using effective marketing techniques and this should be an incentive for other textile firms. Several common problems and needed improvements in textile marketing were also identified. Because of the small sample size, the open-ended questions, and the subjective analysis of the respondents' statements, this study must be regarded as exploratory. However, representative statements from the respondents are presented and these statements are informative about textile marketing practices.     

Euro and FIBOR interest rates: A continuous time modelling analysis

The introduction of the Euro in January 1999 and the new reference interest rate EURIBOR® which is widely used as the underlying interest rate for Euro denominated derivative contracts have opened up a new area of research in international financial markets. In this paper we estimate single factor models using daily EURIBOR® and FIBOR interest rate data. We also estimate a model allowing a level-GARCH specification and a two factor model. We find evidence of level-volatility effects in both rates.