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Conditioning manager alphas on economic information: another look at the persistence of performance 总被引:11,自引:0,他引:11
This article presents evidence on persistence in the relativeinvestment performance of large, institutional equity managers.Similar to existing evidence for mutual funds, we find persistentperformance concentrated in the managers with poor prior-periodperformance measures. A conditional approach, using time-varyingmeasures of risk and abnormal performance, is better able todetect this persistence and to predict the future performanceof the funds than are traditional methods. 相似文献
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JA. Clougherty 《Contemporary economic policy》2000,18(3):304-314
The six largest U.S. airlines announced in the beginning of 1998 the formation of three domestic alliances, but the size and scope of these alliances spurred significant public interest concerns. GAO analysis suggests a rough equivalence between the domestic costs and benefits of alliances, yet the international competitive effects have not been considered. I argue that the national welfare merits of domestic airline alliances turn on positive international competitive effects. Empirical tests - run on comprehensive panel data covering the international airline markets among 21 nations over the 1983–1992 period - support domestic market concentration resulting in strategic international gains; hence, domestic airline alliances likely improve national welfare. 相似文献
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世界上最有价值的知识是关于方法的知识,教给了方法就是交给了"点石成金"的指头,交给了捕猎物的猎枪,学生就可以用它去捕获猎物,索取知识的金山. 相似文献
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Lack of health insurance is a critical factor in access to appropriate health services and is directly associated with poor functioning, increased morbidity and mortality, lack of continuity of care, and rising health care costs. Nurse-managed clinics (NMCs) can serve as an important safety net in the health care delivery system by offering needed health services to the poor and underinsured populations. Indicators of quality of care at NMCs include removing barriers to care, improving health care access, and developing therapeutic relationships with nurse practitioners. Much evidence also exists that nurse-managed clinics improve the use of preventative services, aid in the promotion of health, compliance of treatment and patient satisfaction, and reduce emergency room visits and rehospitalizations. One of the consistent themes in this review is the need for patient volume enhancement and the importance of reimbursement through Medicaid and third-party payers if nurse-managed clinics are to remain viable. 相似文献
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运用农业(农村)可持续化与现代化综合指标体系以1995—1998年的资料为基础,结合实际调查,对洪河农场的整体情况进行评价。 相似文献
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