...or 2.074 = = .43, p-value = .6703. There is not enough evidence to infer that the population means differ. b Equal-variances test statistic Rejection region: –2.074 or 2.074 = = .04, p-value = .9716. There is not enough evidence to infer that the population means differ. c The value of the test statistic decreases and the p-value increases. d Equal-variances test statistic Rejection region: –1.960 or 1.960 = = 1.53, p-value = .1282. There is not enough evidence to infer that the population means differ. e The value of the test statistic increases and the p-value decreases. f Rejection region: –2.074 or 2.074 = = .72, p-value = .4796. There is not enough evidence to infer that the population means differ. g The value of the test statistic increases and the p-value decreases. 13.7 a Unequal-variances estimator = 64.8 (rounded to 65, approximated by ) = (63 – 60) 1.667 = 3 4.59 b Unequal-variances estimator = 63.1 (rounded to 63, approximated by ) = (63 – 60) 1.671 = 3 10.38 c The interval widens. d Unequal-variances estimator = 131 (approximated by ) = (63 – 60) 1.656 = 3 3.22 e The interval narrows. 13.8 = 0 0 a Unequal-variances test statistic = 200.4 (rounded to 200) Rejection region: = = .62, p-value = .2689. There is not enough evidence to infer that is greater than . b Unequal-variances test statistic = 223.1 (rounded to 223) Rejection region: = = 2.46, p-value = .0074. There is...
Words: 5397 - Pages: 22
...available at SciVerse ScienceDirect Journal of Accounting and Economics journal homepage: www.elsevier.com/locate/jae Cost of capital and earnings transparency$ Mary E. Barth a,n, Yaniv Konchitchki b, Wayne R. Landsman c a Graduate School of Business, Stanford University, Stanford, CA 94305, USA Haas School of Business, University of California at Berkeley, Berkeley, CA 94720, USA c Kenan-Flagler Business School, University of North Carolina at Chapel Hill, Chapel Hill, NC 27599, USA b a r t i c l e in f o abstract Article history: Received 22 December 2008 Received in revised form 19 November 2012 Accepted 23 January 2013 Available online 1 February 2013 We provide evidence that firms with more transparent earnings enjoy a lower cost of capital. We base our earnings transparency measure on the extent to which earnings and change in earnings covary contemporaneously with returns. We find a significant negative relation between our transparency measure and subsequent excess and portfolio mean returns, and expected cost of capital, even after controlling for previously documented determinants of cost of capital. & 2013 Elsevier B.V. All rights reserved. JEL classification: D8 G12 M4 M41 Keywords: Cost of capital Earnings transparency 1. Introduction This study provides evidence that firms with more transparent earnings enjoy a lower cost of capital. Firms with more transparent earnings are those whose earnings better reflect changes in the economic value of the firm. We operationalize...
Words: 19169 - Pages: 77
...01/28/2011 EH205 Essay 2 When and why did London grow so much faster than other early modern capitals? By examine the key differences among Paris, Madrid, and London, I argue that from1650 to1750, the reason why London boosted in terms of demographic expansion and market integrations is that -- instead of creating market disorder by demanding cheap supply of goods from other places, emphasizing social privileges and over consumptions, London attracted spontaneous business exchange in market among different groups of people. In section I, by doing a brief literature review on E. A. Wrigley, D. R. Ringrose and other important authors, we may have a basic understanding of the demand and supply market mechanism and its relationship with population, internal market and functions of capitals. In section II, we will analyze how the functions of capital, such as exercising political power to satisfy a particular interest, can affect the demand and supply of market and demographic composition. In section III, we study further how the functions of capital such as price determination can change the economic development of the capital itself and its surrounding industrial and agricultural areas. At the end, we should see that London did a better job integrating the urban-rural market during 1650-1750. Literature Review From 1650 to 1750, London grew much faster than other continental capital cities. There is little debate on the time as shown in table 1 and 2 below. Although the figures...
Words: 1951 - Pages: 8
...goals; the result was formed in definition of sustainable development: ‘Sustainable development is development which meets the needs of the present without compromising the ability of future generations to meet their own needs’ (Smith & Rees 1998, p. 15). Since that long time ago 1987, there have been a lot of researches in this field, and three essential aspects of sustainable development have been defined (Kronenberg & Bergier 2012, p. 24). At first, there is economic – a sustainable system must be able to produce goods and services on a permanent basis, to maintain appropriate levels of debt (government as well as external one), and to avoid significant disbalance in different sectors (that can damage agricultural or industrial production). Second one is environmental aspect – a sustainable system must maintain a stable resource base, avoid over-exploitation of renewable resources, and exhausting nonrenewable resources only if adequate substitutes exist. The last aspect is social one - a sustainable system must characterized by fair distribution and opportunity for everybody, provision of social services (like health, education, etc.) on the adequate level, gender equity, and political accountability and participation (Hofkes 1996, p. 342).These three aspects of sustainability make the originally simple definition of economic development more complicated or more precise, in other words. Sustainability from an economic perspective Despite on these complications, three principles...
Words: 1354 - Pages: 6
...business situation of Mrs. Acres Homemade Pies and using the economic concepts of supply and demand, explain * Discuss what you think will happen to the supply, demand and price of the product in the short-term; * Discuss what you think will happen to the supply, demand and price of the product in the long-term. * Explain why you think supply, demand or equilibrium price will be different, if at all¸ in the short-term and long-term. I want to begin sharing my findings with the definition of supply and demand. Supply is defined as the number of products, goods and services that businesses are willing to sell at different prices at a specific time (McGraw-Hill p. 13). Demand is the number of goods and services that consumers are willing to buy at different prices at a specific time (McGraw-Hill p.13). Mrs. Acres Homemade Pies started out successful which caused an increase in demand for the product. In the short-term, the supply of the product can be increased to meet the demand. Shelly had already taken the necessary steps to meet the rising demand of her product, by expanding operations and borrowing money in order to increase her staff. In order to meet the increasing demand in the short-term, Shelly could consider another expansion and find the financial means to increase her staff so she will be able to keep up the supply of the product. I think the price of Shelly’s pies will increase in the short-term, causing the demand for her product to either decrease...
Words: 1076 - Pages: 5
...The Review of Economic Studies Ltd. Alternative Theories of Distribution Author(s): Nicholas Kaldor Source: The Review of Economic Studies, Vol. 23, No. 2 (1955 - 1956), pp. 83-100 Published by: The Review of Economic Studies Ltd. Stable URL: http://www.jstor.org/stable/2296292 Accessed: 22/03/2010 10:03 Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/action/showPublisher?publisherCode=resl. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. The Review of Economic Studies Ltd. is collaborating with JSTOR to digitize, preserve...
Words: 9493 - Pages: 38
...Lella McLemore Duane Saari BME-214614-04 Organizational Behavior 18 February 2013 Belief and Support of Human Capital: Case Study Analysis of Whole Foods What role, if any, does McGregor’s Theory Y play at Whole Foods? Explain? The primary focus of this case study analysis shall be to examine the methods of Whole Food’s distinctive approach and development to the implementation of creative management strategies and how they can continue to successfully help them to maintain growth in their company. The underscoring premise of McGregor’s Theory Y primarily rest on the assumption that that the role of management is develop the potential of their employees and help them to realize their potential to meet the common goals of their organization (Steward, 2010). With this underlining thought in mind McGregor’s Y Theory plays an intricate and crucial role at Whole Foods. According to our textbook, Organizational Behavior, by Robert Kreitner and Angelo Kinicki, and the company’s primary mission directives, Whole Foods goal is for upper management to share the responsibility with their frontline managers in the development of a successful work environment (Kreitner & Kinicki, 2013, p. 30). Whole foods promotes their employee teams to be self-directed and take initiative and responsibility for operating together for the benefit of their entire business organization. To this end John Mackey, Cofounder and Co-CEO of Whole Foods Market promotes through the application of McGregor’s...
Words: 1242 - Pages: 5
...Belonging through relationships Meaning: A sense of belonging can be forstered through relationships this may be strengthened or broken down. Quote: Rosiland and Celia "To you I give myself for i am yours" 5.4.101 Conversation between rosiland and celia are witty and help us to understanf their friendship as close- as they banter between each other- we seee values and ideas to the society they belong to. Some characters choose not to Belong Meaning: Where most people choose to belong to a place or a person, some people choose not to belong at all. Quote: Jacques to Duke Senior "So to your pleasures; i am for other than for dancing measures" Jacques refuses Dukes invite to stay with him and his men and chooses to leave to go find the self-exiled Duke frederick. Jacques is seen to belong to himself rather than anything else. Belonging to a society or place Meaning: A person that finds pleasure or enjoyment in where they are rather than who they are with. Shown in As You Like It as a bad lifestyle. Technique: Shakespeare shows his discomfort to this lifestyle. This is shown through the murderous intentions of Duke Frederick and Oliver, who at first find their belonging to the court, until they are changed in the Forest of Ardern. Belonging to family Meaning: Where someone feels a sense of attachment to someone due to a family connection. Example: When Oliver is about to be attacked by a lion, Orlando his brother saves him, even though he knew Oliver had been sent...
Words: 283 - Pages: 2
...Services Firm Revenue Sherif Khalifa, Ph.D. Department of Economics California National Income II State University, Fullerton () 2 / 31 Supply Production De…nition Factors of production are the inputs used to produce goods and services. The two most important factors of production are capital and labor. Capital is the set of tools that workers use. Labor is the time people spend working. Factors of production are fully utilized. K =K L=L Sherif Khalifa, Ph.D. Department of Economics California National Income II State University, Fullerton () 3 / 31 Supply Production De…nition The available production technology determines how much output is produced from given amounts of capital and labor. Y = F (K , L) Y = F K, L De…nition A production function has constant returns to scale if an increase of an equal percentage in all factors of production cause an increase in output of the same percentage. zY = F (zK , zL) 4 / 31 Sherif Khalifa, Ph.D. Department of Economics California National Income II State University, Fullerton () Supply Production The kitchen and its The workers hired to equipment are the make the bread are its labor. Bakery capital. The loaves of bread are its output. Sherif Khalifa, Ph.D. Department of Economics California National Income II State University, Fullerton () 5 / 31 Supply Production To make a product, the firm needs two factors of...
Words: 1511 - Pages: 7
...Assessment #1: Economics and Ethical Issues “Markets bring together buyers (“demanders”) and sellers (“suppliers”)…” (McConnell-Brue, p. 43) In order to predict the economic issues associated with supply, demand, and equilibrium price of a particular product, I will need to explain the relationship between these components. Supply is the number of goods and services that businesses are willing to sell at different prices at a specific time, and demand is the number of goods and services that consumers are willing to buy at different prices at a specific time. (Ferrell, p.13) Supply and demand will meet at a certain point where the sellers are willing to sell products and services at a certain price and consumers are willing to buy at a certain price, this point is called the equilibrium price. The equilibrium price will also help to determine the equilibrium quantity, the price and the amount of product and services demanded and supplied at the equilibrium price in a competitive market. At this amount of equality, there is neither a shortage nor a surplus of product and services. The supply and demand of the products Tylenol, Aleve, and Advil depends basically on the consumer’s preference and taste. First, let me state that all of these products serve the same purpose, to relieve headaches and pain. What makes the difference is the characteristic of each product which is the active ingredient. “Tylenol and certain generic brands rely on acetaminophen. The active ingredient...
Words: 1228 - Pages: 5
...of capitalist domination, which relates to each of these categories, suggests that the main cause of conflict in society is inequality, and this inequality brings about disadvantages to workers and benefits to the owners of capital. Although this perspective is backed by strong examples in today’s society, such as the decline in skilled labour leading to greater inequality between the proletariat (workers) and the bourgeoisie (capital owners), it spends too much time on blaming the structure of the system for making inequalities worse, without taking into consideration how much worse these inequalities would be today if the system were not structured the way it is. Therefore, when criticizing systems such as government, and its ability to organize and manage society, it is essential to recognize that without a government in place, and if society were to be adhocratic, the world would be chaotic and not nearly as efficient as it would be if a government were established. The government plays key roles in not only the stabilization of society, but also in helping it prosper in the long run. In this paper, I will argue through a functionalist perspective in that the government has a key function in organizing the regulation of both physical and human capital such that society may achieve prosperity, and that current issues within society would only get worse if the established government were to be abolished. A significant role that the government plays in society is to create...
Words: 2200 - Pages: 9
...emphasize and effectively use human capital, (4) invest in the development of new technologies, (5) engage in valuable strategies, (6) build and maintain an effective organizational culture, (7) develop and implement balanced controls, and (8) engage in ethical pratices. 4.1. Develop and communicate a vision First, strategic leaders–—hopefully in concert with others in the organization–—must develop a vision and communicate that vision broadly, to help guide the formation and implementation of strategies to achieve that vision. This form of guidance is important to establish the direction of the organization for its growth, types of products, and market focus, and to achieve the desired targets. Without the guidance provided by a vision, organizations can become chaotic and are unlikely to be as successful. 4.2. Build dynamic core competencies A core competence is a major capability to perform important tasks (e.g., a function) quite well, and makes a valuable contribution to a firm’s competitive advantage. A dynamic core competence implies that the firm continues to develop and update the competence to be the leader, or at the forefront, in that capability. It also implies that the firm is prepared to develop a new competence to replace an existing one when necessary to maintain a competitive advantage, and/or to build a new advantage. 4.3. Emphasize and effectively use human capital An emphasis on human capital suggests that strategic leaders attract...
Words: 3091 - Pages: 13
...stakeholders. HRD is a combination of organizational endeavors including education, training, development, career planning and development that ensure continual improvement and growth of both the individuals and organizations. The foray of workers entering into public and private sector organizations in Baluchistan from various disciplines has necessitated the need for appraising the Human Resource Development situations in Baluchistan. Therefore this article is an attempt to investigate the human resource situations in the province. Keywords: Human Resource Development, Human Resource Management, Training and Development, Human Resource Capital Introduction Human Resource Development is one of the key functions of an organization. It is the framework for the expansion of human resource talent within the organization. Human capital is an inventory of human ∗ Dr. Jan Mohammed, Assistant Professor, Institute of management sciences, University of Balochistan, Quetta. Email: jan_mohammed61@yahoo.com...
Words: 2397 - Pages: 10
...what they can afford to buy; or even what they think they can afford to buy. With the economy being where it is right now, most people are also looking at the benefits that the car may offer, such as having low gas mileage. The hypothesis test will determine the percentage of imported cars sold at the dealership. In the conclusion, the hypothesis will either be accepted or rejected after determining the actual probability. The level of significance to be used for this calculation is .05 or 95% confidence level. Numerical Hypothesis X1: Selling price in dollars X2: Selling price in thousands of dollars X3: Age of buyer X4: 0=Domestic, 1=Imported 80 Autos Sold Ho- p= .5 (The true hypothesis should be that out of the 80 cars that were sold, 40 of them should be imported cars.) Ha- p < .5 or p > .5 (The actual statement states that out of the 80 cars sold, the number of imported cars will either be less than 40 or more than 40.) Verbal Hypothesis The percentage of imported cars sold at the Whitner Autoplex dealership should be 50%. Since the dealership carries both imported cars and domestic cars, the probability of the number of cars sold should be even, 50% imported -50% domestic. In the conclusion this hypothesis will be accepted or rejected. We tested the Autoplex data to determine the 90% and 95% chance that the cars sold on the lot are...
Words: 636 - Pages: 3
...The Hedonist Perspective - Ursa Minor Beta Eroticon To live the ‘good life’- meaning to live a life of satisfaction in our everyday lives, one must compel to live and practice a life of pleasure. Living a life of pleasure refers to the actions, and thoughts, one must take in order for that fulfillment to be reached. The attainment of pleasure depends on the individual’s perception of what it means to feel pleasured. For example, one individual may be pleasured by the action of collecting comic books, while another individual may be pleasured by tearing apart comic books. In this case, it is to do whatever one must feel comfortable doing in order to reach the final end. The ultimate end is pleasure. The best form of pleasure to be practiced is to be peaceful, and negotiable to whatever the action the individual may take on. This practice is beneficial to move further away from negative forms of pain, and instead enhance all sectors of life to the best form it can be. Nature has placed species all around the universe under two sectors of governance – Pain and Pleasure. Pain inflicts negative unpleasant experiences and feelings of guilt, remorse, aches, and discomfort. Pleasure inflicts delight, satisfaction, enjoyment, and elation. Virtue allows us to be free from forms of pain, and disturbing events. Practising the pleasure sector governs our perception of life in the most positive format. We are able to distinguish our morals by what gives us the most pleasure in what we do...
Words: 1252 - Pages: 6