Confounding and collinearity in regression analysis: a cautionary tale and an alternative procedure,illustrated by studies of British voting behaviour

Quality & Quantity - Many ecological- and individual-level analyses of voting behaviour use multiple regressions with a considerable number of independent variables but few discussions of their...     

Can investors time their exposure to private equity?

Private equity performance, both for buyouts and venture capital, has been highly cyclical: periods of high fundraising have been followed by periods of low performance. Despite this seemingly predictable variation, we find modest gains, at best, to pursuing realistic, investable strategies that time capital commitments to private equity. This occurs, in part, because investors can only time their commitments to funds; they cannot time when commitments are called or when investments are exited. There is a high degree of time-series correlation in net cash flows even across commitment strategies that allocate capital in a very different manner over time.     

Testing the asymmetric effects of exchange rate pass‐through in BRICS countries: Does the state of the economy matter?

This paper investigates not only the question of whether there is exchange rate pass‐through (ERPT) but also the extent to which the pass‐through is asymmetric or state‐dependent in the BRICS countries. Using monthly data from 1999:M1 to 2019:M12 and non‐linear smooth transition vector autoregressive (STVAR) model, our results provide evidence of period‐specific ERPT between the upper and lower regime periods, governed by the selected transition variables. The results further suggest that the pass‐through of exchange rate is higher when the economy is experiencing large appreciations and expansions as well as large depreciations and recessions. Theimplication for these findings is that ERPT is strongly affected by the state of the economy.     

An Ethical Inquiry of the Effect of Cockpit Automation on the Responsibilities of Airline Pilots: Dissonance or Meaningful Control?

Journal of Business Ethics - Airline pilots are attributed ultimate responsibility and final authority over their aircraft to ensure the safety and well-being of all its occupants. Yet, with the...     

The Cost of War: A Comment and a Reply

Intereconomics - In the July/August issue of Intereconomics, Ilona Sologoub argued that increasing the cost of war would limit the ability of an authoritarian state to wage a war. Here, Charles D....     

Reciprocal value sharing in manufacturer-retailer relationships: the case of new product introductions

Prior literature examined reciprocity in the context of value creation. However, research has yet to examine whether reciprocity exists in value sharing. To address this gap, the authors examine retailer’s reciprocal value sharing with its manufacturer in relation to new product introductions. The authors test, via a survey of retail managers, whether reciprocal value sharing is influenced by an interaction of manufacturer’s prior new product success with innovativeness of a manufacturer’s products and the frequency of new product introduction. The results indicate that a retailer’s reciprocal value sharing is greater when the manufacturer historically launched successful new products, and that this effect is decreased with the innovativeness of a manufacturer’s products but increased with the frequency of new product introduction.