The effects of mortgage laws on home mortgage rates

Mortgage rates differ between regions because of usury laws, not import of mortgage funds, loan-to-value ratios, and mortgage laws. This study focuses on the effects that state laws regarding foreclosure have on regional mortgage rates.     

Some factors determining municipal revenue bond interest costs

This paper tests for variations in risk premiums on municipal revenue bonds that are related to the geographic location of the issuer, the issue's second rating, and secondary collateral provisions. The empirical findings indicate that investors required risk premiums that depended on local economic conditions. Issuer borrowing costs were also shown to be related to factors that cause or reinforce segmentation of the tax-exempt bond market.     

A model of teenage labor supply

This paper develops a model of teenage labor supply and school participation which stresses the teenager's use of time in a family context. The family is viewed as imposing constraints on the teenager's allocation of time. The teenager maximizes his utility subject to these constraints which differ with his age, sex, and family type. Simultaneous equation estimation is used with market level (SMSA) data on teenage labor supply. Overall, we find well-behaved labor supply equations for teenage age, sex, and family-type groups. Moreover, different groups react differently to variables representing family-imposed constraints.     

The impact of bank holding companies on local market rivalry and performance

The bank holding company movement in banking is, in many respects, the counterpart of the conglomerate movement in the industrial sector. Both are characterized by a substantial amount of merger activity and thus raise questions as to the affect of the acquiring firms on competition. This study uses Tobit analysis and OLS to examine the influence of bank holding companies on rivalry and performance in 154 banking markets (1970–1979). Test results indicate that in markets where bank holding companies are a significant factor rivalry is higher, but so are prices even though profits are not higher, than in markets where bank holding companies are less important. These seemingly conflicting findings may be explained by the finding that significant holding company presence in a market is associated with relatively high noninterest expenses.     

Polymorphism in competitive strategies: Trading stamps

This paper uses the example of trading stamps to examine a model of competitive nonprice marketing strategies. A concept borrowed from ethology, polymorphic equilibrium, is developed and used to explain salient features of trading stamp use by retail firms. The results contribute to an understanding of why virtually identical firms may optimally choose quite different competitive strategies. The paper also demonstrates the possibility of cyclical movements in the proportion of firms that adopt nonprice strategies such as the use of trading stamps.     

Model of management learning styles as a predictor of export behavior and performance

This paper reports the findings of a preliminary investigation of the relationships between the export performance and behavior of firms and the search for market information by the principal international marketing executives of these firms. The first part of the study deals with acquiring objective market information, and the second part is concerned with the acquisition of experiential market knowledge. While the findings of the experiential portion are inconclusive, the use of learning theory in this aspect of the work provides direction for future research in this area.     

Regularity and diversity in firm size distributions in U.S. industries

The size distribution of firms in manufacturing industries has long been a matter of interest in industrial organization. Distribution in different industries show considerable regularity that static economic theory fails to explain. Stochastic growth models appear to provide some insights, but empirical tests of the log-normal or Pareto distributions have been inconclusive. This paper draws on market share data for over three hundred U.S. manufacturing industries and analyses the distribution of largest firm sizes. A statistical test of the Pareto hypothesis, rather different from previous tests in the literature, decisively rejects that hypothesis as a general explanation for the upper tail of the distribution. Instead, great diversity among distributions is found, and the regularities that do emerge imply a greater clustering of large firms than predicted by theory.     

An empirical comparison of the Tucker-Messick and INDSCAL models: Measuring viewpoints about transit attributes

This investigation sought (1) to identify perceptually homogenous respondent groups by two individual differences scaling models initially proposed by Tucker and Messick, and Carroll and Chang, (2) to reveal the significance of group percepts with respect to anticipated satisfactions and socio-economic and activity pattern characteristics of group members, and (3) to test empirically the significance of formal distinctions between the two individual differences models. The study utilized judgments about 12 transit attributes of three innovative urban, public transportation modes from a sample of 243 respondents. It was possible to specify seven perceptually homogenous groups, which were distinct in terms of a qualitative analysis of their perceptual spaces and a quantitative convergent-discriminant validity analysis predicated on the distances between pairs of attributes in their spaces. The perceptual groups were shown to have interpretable links to socio-economic and activity pattern characteristics of the respondents. In addition, it was possible to statistically account for the satisfaction ratings of the respondents by the dimensions of their corresponding spaces. Since the Tucker-Messick model was shown to derive more distinct spaces for the separate groups than the INDSCAL model of Carroll and Chang, the Tucker-Messick spaces more uniquely tied a group's percepts to its corresponding satisfactions.     

Rethink Strategy or Perish

Not long ago, the telecommunications industry was a dusty strategic backwater of little interest, primarily concerned with proprietary technologies and enjoying a protected status. Not any more; the application of silicon and software to telecom has obliterated entry barriers, forced open the market, and, according to Mariann Jelinek, created a whole new strategic situation. Telecom is now a highly competitive, innovative, high-technology industry, with a worldwide market. Professor Jelinek suggests that the key to understanding the shift lies in comprehending the new technologies being applied and understanding their impact on the traditional markets and missions of the firms that use them. The lessons of these changes are important for all managers, especially those in mature industries, since microelectronics and software applications seem to know no industry boundaries. They are invading our lives on all sides.     

基于LBS数据的历史文化街区旅游商业化空间分布研究——以江汉路及中山大道片历史文化街区为例

随着30个国家级历史文化街区的公布和文化旅游的繁荣发展,近年来,历史文化街区的旅游商业化发展问题备受关注。文章以武汉江汉路及中山大道片历史文化街区为例,通过Python爬虫从大众点评网站获取商户LBS数据,将商户业态分为8类,综合运用GIS的最邻近指数和核密度分析方法,研究了不同商业业态的空间分布特征及其影响因素。研究发现,不同类型的商业业态在空间分布类型及分布状态上均存在差异;商业业态的空间分布会受到历史文化资源分布密度、街巷空间和政策等因素的影响。最后,针对历史文化街区的商业业态空间分布提出建议。