Size and Value Effects in the Visegrad Countries

This paper has two main objectives. The first is to test for the presence of size and book-to-market value effects in the Visegrad countries (the Czech Republic, Hungary, Poland, and Slovakia). Such effects have been found in the U.S. stock market and in many other developed stock markets. The authors demonstrate that sizeand value do explain the expected return/cost of capital in eastern Europe. From this result they proceed by constructing regional size and book-to-market portfolios for a combined Visegrad market. Returns on these portfolios serve as factors in addition to the market portfolio. The second objective is constructing a model for the cost of capital. The regional three-factor model outperforms country-specific versions of the model, and it can be estimated for a more current sample in Prague, Budapest, Warsaw, and Bratislava. Therefore, it is a plausible model for the cost of capital in this region, and it is used to calculate the cost of capital for the following industries: banks; capital goods; food, beverage, and tobacco; materials; and utilities.     

基于微课化的GMP教学资源库建设的研究与探索

GMP是我国药品生产企业进行药品生产管理和质量控制的基本要求,GMP的有效实施的前提是有效的培训,本论文研究了基于微课化的GMP教学资源库建设并用于GMP课程教学、企业培训的可行性,并探索设计了基于微课化的GMP教学资源库建设的方案。     

论具有“侨务”特色的班级制度管理

班级制度管理是指全体学生在班主任的带领下制定一整套完备的规章制度,并将班级活动纳入制度轨道使班集体有序运转的一种班级管理方略。文章尝试围绕＂侨＂字特色的班级管理,系统阐述实施班级制度的必要性、可行性,并简述其局限性。     

多种产品系列化包装箱尺寸设计的研究

提出了一套系列化包装箱尺寸设计的方法,通过此方法可以为企业的多种单品进行包装箱尺寸优化设计,并给出每种单品适用的包装箱尺寸。利用此方法对一家医药经销企业的500余种包装箱进行优化,得到的包装尺寸规格种类大量减少,同时能够保证包装箱容积利用率在91%以上。     

Historical family structure as a predictor of liberal voting: Evidence from a century of Russian history

Family structure is considered a particularly important predictor of social and political development; historical differences in family size and other family characteristics cast a long shadow over societal development. This paper explores the effect of differences in historical family size on political behavior based on within-country variations in this characteristic in Russia. Unlike most papers on historical legacies, we trace the effect of family size over a century of Russian history with a focus on the first competitive and free elections in Russia—to the Constituent Assembly—held in 1917 and on the presidential elections in post-Soviet Russia in 1996 and 2000. Mean family size is measured based on the census data for 1897. We find a robust and significant association between smaller family size and a voting preference for parties that are economically liberal, which holds despite differences in the political, economic, and social environment between the 1910s and 1990s     

International Comparisons of Public Sector Performance

Abstract

Measuring and comparing the overall performance of countries' public sectors requires agreement on definitions and objectives of government. I argue that such an agreement is about finding a consensus rather than about finding better definitions. Measuring government requires a number of leaps of faith, where certain definitions, assumptions and statistics are accepted as good enough for measurement and comparison. The political science and economic research community have a different tradition of dealing with such agreements and leaps of faith, and this is reflected in their approaches to measuring and comparing the performance of public sectors. The implications of these traditions are particularly visible in the usefulness of measurement and indicators for policy makers.     

The Link Between Diversity and Equality Management Practice Bundles and Racial Diversity in the Managerial Ranks: Does Firm Size Matter?

Invoking strategic human resource management (SHRM) theory and tenets of the resource‐based view of the firm, we explore how two bundles of diversity and equality management (DEM) practices influence racial diversity in the managerial ranks. By considering the conceptualization of DEM practices and the moderating role of firm size, our study disentangles subtle nuances in the DEM practices–racial diversity in managerial ranks relationship. Based on a sample of 137 Fortune 1,000 firms over a two‐year period, our results suggest that minority opportunity‐based DEM practices and manager accountability DEM practices positively relate to racial diversity in managerial ranks, and these relationships are stronger in smaller companies than large ones. Theoretical and practical implications for a strategic perspective on future diversity management research are elaborated.     

Small fish,big fish: The performance effects of the relative standing in partners' affiliate portfolios

This study examines whether the value a venture derives from an affiliation depends on its relative standing in the portfolio of all affiliations held by its partner. Relative standing refers to how the venture ranks among other ventures in the partner's portfolio with respect to expected returns. The relative standing of a venture in its partner's portfolio influences the venture's access to the partner's resources and the venture's performance. We also argue that a venture's relative standing becomes more important to performance when the partner has a larger portfolio or higher status. In addition to a field study, we test the effect of a venture's relative standing in a venture capital portfolio on its exit likelihood, controlling for endogeneity. We find support for our hypotheses. Copyright © 2014 John Wiley & Sons, Ltd.     

A nonsymmetric sequential test

A one-sided testing problem based on an i.i.d. sample of observations is considered. The usual one-sided sequential probability ratio test would be based on a random walk derived from these observations. Here we propose a sequential test where the random walk is replaced by Lindleys random walk which starts anew at zero as soon as it becomes negative. We derive the asymptotics of the expected sample size and the error probabilities of this sequential test. We discuss the advantages of this test for certain nonsymmetric situations.Acknowledgement. The authors thank the referee for helpful comments and suggestions. Their research was supported by the German Research Foundation (DFG) and the Russian Foundation for Basic Research (RFBR).