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The overall objective of this article is to determine if the product matters in determining willingness to pay for pro-environmental products compared to non-pro-environmental products through experimental design. Ultimately, this research aims to use a posteriori or behavioral segmentation approach to cluster consumers using the price collected through a controlled auction experiment they would actually pay to purchase a pro-environmental product as opposed to a non-pro-environmental product, as well as profiling each segment according to (a) perceived product benefits; (b) values; (c) perceived consequences of purchase behavior; and (d) demographics based on self-reported survey data. 相似文献
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Padma Desai 《Journal of Comparative Economics》1985,9(1):1-23
The Cobb-Douglas production function with a declining rate of technical change or of total factor productivity growth (TFP) emerges as the dominant model for explaining the output-growth retardation in postwar Soviet industry when two sets of output data, from Soviet sources and from the CIA, are used for estimating Cobb-Douglas and CES specifications. Rates of output growth and TFP, though low, are higher with Soviet than with CIA data. However, their relative divergence is smaller in those industrial branches where Soviet output data are not exaggerated and where the CIA sample is representative of the branch output. J. Comp. Econ., March 1985, 9(1), pp. 1–23. Columbia University, New York, New York 10027. 相似文献
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Does the Stock Market Fully Appreciate the Implications of Leading Indicators for Future Earnings? Evidence from Order Backlog 总被引:1,自引:0,他引:1
Although leading indicators are becoming increasingly important for equity valuation, disclosures of such indicators suffer from the absence of GAAP related guidance on content and presentation. We explicitly examine (i) whether one leading indicator—order backlog—predicts future earnings, and (ii) whether market participants correctly incorporate such predictive ability in determining share prices. We find that the stock market overweights the contribution of order backlog in predicting future earnings, and a hedge strategy that exploits such overweighting generates significant future abnormal returns. However, such mispricing is not due to analysts' inability to incorporate order backlog into their earnings forecasts. 相似文献
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We analyse a sample of foreign firms issuing equity in the USA to determine the factors that affect IPO and SEO pricing. The average SEO discount, defined as the percentage difference between the price in the local market on the offering date and the SEO offer price, is 2.07%, and is significantly lower for stocks that are ultimately listed on the NYSE/AMEX than for stocks that are listed on the Nasdaq. Foreign equity issues are underpriced; the traditional underpricing discount, which is defined as the percentage difference between the closing price on the first day of trading and the offer price, is 18.75% on average. Equity issuers from industry groups with the largest six–month pre–IPO return in the US market experience a higher level of underpricing. For the subsample of emerging market issues, we document that, in the after–market, the ADR price remains persistently above the dollar denominated price in the domestic market for up to 90 days following the date of the issue. 相似文献
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Campbell et al. (2001) document that firms’ stock returns have become more volatile in the U.S. since 1960. We hypothesize and find that deteriorating earnings quality is associated with higher idiosyncratic return volatility over 1962–2001. These results are robust to controlling for (i) inter-temporal changes in the disclosure of value-relevant information, sophistication of investors and the possibility that earnings quality can be informative about future cash flows; (ii) stock return performance, cash flow operating performance, cash flow variability, growth, leverage and firm size; and (iii) new listings, high-technology firms, firm-years with losses, mergers and acquisitions and financial distress. 相似文献
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Padma Sastry 《Telecommunications Policy》2009,33(3-4):146-163
Performance attributes of public utilities vary in definition according to the stakeholder: service provider, customer or regulator. A framework is provided for defining, measuring and ranking service quality from multiple perspectives by developing a “quadrant analysis” method. This method is applied and US local telephone companies are ranked over time as leaders and laggards or biased according to one, two and three stakeholder perspectives. Application of the method to 1994–2001 data for the US local telephone industry suggests that some local companies hold their position consistently as leaders among their peers in the industry and some continue to lag behind. While the leaders could be studied for best practices the analysis of the laggards’ practices would also yield valuable insights regarding good practice as perceived by the different stakeholders. 相似文献
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This paper examines the interaction of socialist ideas and doctrines with Indian economic policy-making in the last three decades. It concludes with an analysis of the differences between ex-ante aspirations and the ex-post outcomes in regard to these socialist objectives. 相似文献