Option values,stipends and the returns to educational investment

In this paper we use a dynamic model of the returns to educational investment to analyze the flow of students moving through the various stages of an educational system. Dropout and graduation rate are linked to the profitability of an educational stage and thus may be influenced by an appropriate choice of stipend level. To determine the effects of changes in stipends on the output of the educational system we hypothesize a probability distribution of abilities in the population. The parameters of this distribution permit the estimation of the effects of stipends on the graduation rate of each educational stage.     

Labor force participation

Trends in U.S. female and male labor force participation are outlined, particularly for the post-World War II period. Potential causes of these trends are then discussed, both those that operate on the demand side and those that operate on the supply side of the labor market, along with some discussion of alternative approaches to modeling these employment changes. Effects of these trends and future direction of changes are also considered.     

Degrees of tax indexation and nominal interest rates: Effects of inflation on incentives to save and invest

This paper examines the effects of inflation expectations on nominal interest rates, and incentives to save and invest under partial and complete tax indexation schemes. One would expect that a partially indexed structure would be better than a non-indexed system. However, this is not the case—it reduces the adverse effects of inflation on the incentives to save, but accentuates them on the incentives to invest. Moreover, a change from a non-indexed tax structure to a fully-indexed structure will, ceteris paribus, lead to lower equilibrium interest rates, whereas a switch to a partially indexed system will imply higher rates.

Monotone missing data and pattern-mixture models

It is shown that the classical taxonomy of missing data models, namely missing completely at random, missing at random and informative missingness, which has been developed almost exclusively within a selection modelling framework, can also be applied to pattern-mixture models. In particular, intuitively appealing identifying restrictions are proposed for a pattern-mixture MAR mechanism.     

THE INFLUENCE OF ORGANIZATION STRUCTURE ON THE UTILITY OF AN ENTREPRENEURIAL TOP MANAGEMENT STYLE

This study examined the influence of organization structure on the relationship between top management's entrepreneurial orientation and financial performance. Moderated regression analysis was used to analyse data collected from 80 business organizations. the findings suggest that an entrepreneurial top management style has a positive effect on the performance of organically-structured firms and a negative effect on the performance of mechanistically-structured firms.     

The role of calculative attachment in the relationship between diversity climate and retention

This study enhances our understanding of the complex relationship between diversity and employee retention. The study found that positive perceptions of an organization's “diversity climate” were related to decreased turnover intentions and found support for the proposition that calculative attachment mediated this relationship. In addition, the study considered potential interactions with diversity climate perceptions in predicting calculative attachment and found support for satisfaction with pay as a moderator, but not supervisor effectiveness. Finally, the study determined that the benefits of a positive diversity climate may extend to all employees, including White men. ©2011 Wiley Periodicals, Inc.     

Measuring cost savings in the operating room: a matter of FOCUS (follow-through, obsolescence, control, utilization, standardization)

In summary, changes came slowly at first in the OR. The biggest inventory reduction came about a year after the effort had begun. It would seem that tackling obsolescence, standardizing products, etc. would give an initial "big chunk" savings, with small amounts coming later as inventories are lowered. What we expected did not occur, due to the inherent nature of practices and what was customarily being used. For example, previously, some equipment purchases were paid for by purchasing product, which resulted in long-term commitments and high supply costs. The OR at times seemed more like a process of managing change, not just supplies. FOCUS is a daily process. How many times can you afford to overlook this process? How often are the mistakes of the past repeated? In review, we suggest this simple outline: Follow-through (review each case from start to finish), Obsolescence (schedule inventories every six months), Control (achieve inventory management by adjusting PAR levels to needs), Utilization (utilize product/equipment with your control), and Standardization (standardize products and measure results).     

An optimization model for the allocation of resources in family planning programs

In this paper we present a quadratic programming model for the allocation of resources in a family planning program. A quadratic cost function is minimized subject to three sets of linear constraints: one for a diffusion model of the acceptance, switching and dropout behavior of the target population; one for manpower limitations; and one for incorporating government policies on desired levels of birth rate. There are two important features to be noted. First, a recruitment cost parameter is introduced to account for the effects of market saturation on new acceptance. Second, by treating the problem as one of cost minimization rather than one of birth rate minimization, the model can be utilized to evaluate the feasibility and the minimum cost requirement of government policies on desired reductions in the birth rate. Computational considerations are also discussed.     

The tortoise and the hare: the impact of employment instability on firm performance

The main objective of this study is to assess the influence of employment instability on firm performance in a sample of publicly traded firms. Competing theoretical arguments are considered with regard to likely outcomes associated with employment instability. A large sample of cross‐sectional time‐series data is then analysed using generalised estimating equations (GEE) regression techniques. Results indicate that employment instability is negatively associated with firm performance, although the relationship is also demonstrated to be quadratic (an inverse U‐shaped relationship). This suggests that the main relationship varies depending upon the level of employment instability. Industry characteristics are also examined as moderators of this main effect. The results suggest a disordinal interaction effect for industry differentiation, where employment instability is negatively associated with firm performance for firms in highly differentiated industries and positively associated in less differentiated industries.