Microcomputer versus mainframe usage by marketing professionals

The purpose of this research is to measure the extent of usage of microcomputers, compared to mainframe usage, by marketing professionals and to describe how microcomputers are used as an aid in marketing decision-making. A national sample of marketing professionals responded to a questionnaire concerning availability of microcomputers and mainframes, decisions and responsibilities performed with each type of computer, software and hardware used, and selected demographics. The results document considerable diffusion of hardware technology as well as widespread use and satisfaction with available software in the subset responding.     

Reliability performance of fault-tolerant digital control systems

This paper presents the results of a generic reliability analysis of fault-tolerant digital control systems (F-T DCS). This analysis differs from previous efforts at estimating the reliability performance of F-T DCS in the sense that this analysis relies extensively on actual experience with redundant computer systems rather than on theoretical evaluations. The dominant contributors to the frequency of failure of F-T DCS are (1) failures within common or shared equipment, (2) software failures, and (3) inadvertent operator actions. Other contributors include loss of electric power, spurious signals that originate from within the DCS, lack of coverage, common cause failure (CCF) of redundant hardware, CCF of instrument channels, and physical damage from externally initiated events (e.g., high temperature). Much variation is expected in the reliability performance of F-T DCSs. Although some systems may operate for 10 or 15 years without experiencing system failures, other systems may fail several times during the same time interval. This variation is expected among systems of different architectures as well as among systems of the same architecture. Because most failures of DCSs can be traced to some kind of CCF, particularly software failures and inadvertent operator actions, CCFs should probably receive more attention than they are presently given when selecting an F-T DCS.     

An Examination of the U.S. Public Accounting Profession’s Public Interest Discourse and Actions in Federal Policy Making

Participation in the political process by the United States public accounting profession often blurs the role of the profession as advocates for the public interest with its role as advocates for its own private interests. In this study, we draw from prior theoretical and empirical work to investigate recent federal political activities of the public accounting profession to shed light on these sometimes contradictory roles. In particular, we investigate ten contemporary regulatory issues of interest to the AICPA. We analyze 36 AICPA legislative advocacy letters related to these issues that were provided to federal policy makers. In addition, we analyze the public accounting profession’s federal lobbying reports that were submitted during this same time period. The analysis allows us to assess the public interest discourse present in the AICPA legislative letters as well as the extent of political action taken by the profession related to these issues based on the profession’s lobbying efforts. Our analyses (1) demonstrate that the profession’s discourse and actions often reflect both public and private interest motivations, (2) allow us to categorize the profession’s advocacy efforts as arising from specific motivations, and (3) show that the profession’s public interest arguments used to advocate for their policy positions change depending upon the specific legislative issue being considered.     

Renegotiation of financial contracts: Evidence from private credit agreements

Using a large sample of private credit agreements between U.S. publicly traded firms and financial institutions, we show that over 90% of long-term debt contracts are renegotiated prior to their stated maturity. Renegotiations result in large changes to the amount, maturity, and pricing of the contract, occur relatively early in the life of the contract, and are rarely a consequence of distress or default. The accrual of new information concerning the credit quality, investment opportunities, and collateral of the borrower, as well as macroeconomic fluctuations in credit and equity market conditions, are the primary determinants of renegotiation and its outcomes. The terms of the initial contract (e.g., contingencies) also play an important role in renegotiations; by altering the structure of the contract in a state contingent manner, renegotiation is partially controlled by the contractual assignment of bargaining power.     

Supply-Side Economics and the Future

How will supply-side economics fare under the new administration? Paul Craig Roberts of the Center for Strategic and International Studies at Georgetown University in Washington, argues that supply-side economics was the major success of President Reagan but that the new administration may not follow its predecessor's example.     

The very idea of classification in international accounting

The paper discusses some issues and problems associated with attempts to classify national systems of accounting. Attention is given to classification experiences in other disciplines. The analysis aims to show the incoherence of taxonomies which rely upon appeals to objectivity and tries to present a case for the development of classifications which explicitly focus on the concept of an “accounting system”.     

志存高远的合作

三家合作伙伴为了追求摩尔定律,其紧密合作甚至延伸到了晶圆生产底层,但同时其间也仍存在着为争夺代工客户而进行的竞争.     

Loan Rates and Collateral

We investigate the relation between corporate loan spreads and collateralization. We use propensity scoring to create a matched sample of pairs of loan facilities from the Dealscan database. We find that noncollateralized loans are associated with lower spreads even after controlling for risk.     

Productivity and Turnover in the Export Market: Micro-level Evidence from the Republic of Korea and Taiwan (China)

Widespread empirical evidence indicates that exporting producershave higher productivity than nonexporters, although the reasonswhy are unclear. Some analysts argue that exporters acquireknowledge of new production methods, inputs, and product designsfrom their international contacts, and with this knowledge theyachieve higher productivity than their more insulated domesticcounterparts. Others argue that the higher productivity of exportersreflects the self-selection of more efficient producers intoa highly competitive export market. This article analyzes thelink between a producer's total factor productivity and itsdecision to participate in the export market, using manufacturingdata from the Republic of Korea and Taiwan (China). Differences are found between these two economies in the importanceof selection and learning. In Taiwan (China) transitions ofplants into and out of the export market reflect systematicvariations in productivity as predicted by self-selection models.In Korea there are no significant changes in productivity followingentry or exit from the export market that are consistent withlearning from exporting. A comparison of the two economies suggeststhat in Korea factors other than production efficiency are moreprominent determinants of the export decision.