...Journal of Economic Literature 2010, 48:4, 935–963 http:www.aeaweb.org/articles.php?doi=10.1257/jel.48.4.935 Quality Disclosure and Certification: Theory and Practice David Dranove and Ginger Zhe Jin* This essay reviews the theoretical and empirical literature on quality disclosure and certification. After comparing quality disclosure with other quality assurance mechanisms and describing a brief history of quality disclosure, we address two sets of theoretical issues. First, why don’t sellers voluntarily disclose through a process of “unraveling” and, given the lack of unraveling, is it desirable to mandate seller disclosure? Second, when we rely on certifiers to act as the intermediary of quality disclosure, do certifiers necessarily report unbiased and accurate information? We further review empirical evidence on these issues, with a particular focus on healthcare, education, and finance. The empirical review covers quality measurement, the effect of third-party disclosure on consumer choice and seller behavior, as well as the economics of certifiers. ( JEL D18, K32, L15, M31) 1. Introduction A young couple expecting their first child might consult healthgrades.com hospital rankings to help choose where to deliver their baby. A year later, the couple decides they need an SUV and consults performance specifications provided by manufacturers and reads Consumer Reports to learn about reliability. Soon thereafter, the couple ...
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...the first Zhuang ancestor, begun in 2003 and consummated in 2004, has created a dramatic disjunction between these two song fairs. The present differences between these two fairs permit an analysis of elements of change that have recently affected Zhuang music culture. While there are several aspects of these changes that could be examined, in this essay we limit the analysis to government-sponsored tourism. The comparison between the two song fairs is used in this case to provide the perspectives of full involvement in, and absence of, government-sponsored tourism to better understand positive and negative effects inside of a given cultural context. To address those positive and negative aspects, we re-posit the questions asked by Carol Rubenstein: “What genre of culture was being formed and shown, and to what end, and at whose expense, and for whose benefit and purposes?” (1992). Information for this paper is taken from experience and research conducted by Qin Jin Dun, a native Zhuang who grew up near the Ganzhuang Mountain Song Fair, as well as fieldwork around the Baise prefecture, including visits to these two song fairs by John Widman during the 2010–2011 academic year. It is an understatement to say that the decade after the Cultural Revolution saw a dramatic shift in government policy towards China's minorities. In the few years that followed the removal of the...
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...Essay on Pro Global Warming I believe that Global Warming has been here since we first started using machines, which used steam engines or combustion engines. The first type of wheeling automobile was made in 1769 that is about 250 years ago. So since the first type of ‘car’ was invented so much time ago, then we can assume that there has been carbon dioxide, smoke and steam in the atmosphere. When this happens the atmosphere breaks into little holes, through those holes the rays of the sun pass through the atmosphere, and therefore global warming is created. This is how global warming is produced, it has been present since a long time ago, and what I just went through is the process of it. “People tend to focus on the here and now. The problem is that, once global warming is something that most people can feel in the course of their daily lives, it will be too late to prevent much larger, potentially catastrophic changes.” Elizabeth Kolbert, The New Yorker, Apr 25, 2005. Kolbert, is a very successful writer, and she might not be known world wide, but she is very wise, because she wrote something seven years ago, which by now is becoming true. I feel that Global Warming is getting to a point that the whole world is about to meet him, because now only educated people know about it, and we must all know that global warming is real. As a matter of a fact one can see many reasons or facts to why Global Warming is real, and it is not only real, but also it is starting to get...
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...statement 2 2.1 Reasons for operating business in Hangzhou, China 2 2.2 Business market analysis 3 2.3 Business Strategy 3 2.4 Concerns or Uncertainty about the Business 4 3.0 Financial Aspects 5 4.0 Conclusion 6 5.0 Reference 7 1.0 Introduction This essay is going to discuss my thought about creating a new venture in Hangzhou, China. From a personal point of view, a successful business should be well planned for a long period of time, since we are still novel to the complex society. In order to maximise the possibility of turning my business concept into reality, there are a number of elements needed to take into consideration seriously. This essay will mainly focus on stating my business idea, analysing the business market, showing my business concerns, adopting a business strategy, and finding funding for the business operation. 2.0 Business concept statement My business concept is about teaching children English in a more enjoyable way. This English training will be operated in a playground and the target market is children from 3-6 years old. The business will be located in Hangzhou, China which is a home city of mine. Some more details will be discussed in the following part of the essay. 2.1 Reasons for operating business in Hangzhou, China In terms of the bigger part of the business operation location, we are going to run our business in Hangzhou, China. Not surprisingly, many people want to run their business in a place they have got the most...
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...CURRICULUM VITAE John Robinson Present Position: Professor, School of Mathematics and Statistics, University of Sydney. Degrees: University of Queensland, B.Sc. (1961) University of Queensland, B.Sc. (Hons II, 1, Mathematics)(1963). University of Sydney, Ph.D. (Mathematical Statistics)(1969). Thesis title: ”Mixtures of Distributions”. Honours: 1984: Elected Member of the International Statistical Institute. 1990: Elected Fellow of the Institute of Mathematical Statistics. 2008: Awarded the Pitman Medal of the Statistical Society of Australia. Positions held: Biometrician, Queensland Department of Primary Industry, 1961-1964. Lecturer, Biometry Section, Department of Agriculture, University of Sydney, 1964-1966. Lecturer, Department of Mathematical Statistics, University of Sydney, 19661971. Senior Lecturer, Department of Mathematical Statistics, University of Sydney, 1972-1982. Associate Professor, Department of Mathematical Statistics, University of Sydney, 1983-1991. Professor, School of Mathematics and Statistics, University of Sydney, 1991Visiting Associate Professor, Department of Statistics, University of Connecticut, 1969-1970. Visiting Associate Professor, Department of Statistics, University of Waterloo, Canada, 1975-1976. Visiting Lecturer, Department of Statistics, University of California, Berkeley, 1979-1980. Visiting Associate Professor, Department of Statistics, University of Rochester, NY, 1986, January-July. Administration: Head of Department of Mathematical Statistics...
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...June 10, 2014 KENNETH S. ROGOFF CURRICULUM VITAE Economics Department, Littauer Center, Harvard University, Cambridge MA 02138-3001, 617495-4022, FAX: 617-495-7330, email: krogoff@harvard.edu Webpage: http://scholar.harvard.edu/rogoff Birth date: March 22, 1953 Married to Natasha Lance Rogoff, two children (Gabriel and Juliana) EDUCATION Massachusetts Institute of Technology, Ph.D., February 1980 Doctoral Dissertation: Essays on Expectations and Exchange Rate Volatility. Yale University, B.A./M.A. summa cum laude, Honors in Economics, May 1975. PROFESSIONAL POSITIONS Professor of Economics, Harvard University, September 1999 – present; Thomas D. Cabot Professor of Public Policy, January 2004 – present. Chief Economist and Director of Research, International Monetary Fund, 2001–2003. Director, Harvard Center for International Development, 2003–2004. Professor of Economics and International Affairs, Princeton University, 1992–94; Charles and Marie Robertson Professor of International Affairs, 1995–1999. Professor of Economics, University of California at Berkeley, 1989–1991. Associate Professor of Economics, University of Wisconsin-Madison, 1985–1988. Economist, International Finance Division, Board of Governors of the Federal Reserve System, 1980–1983; Section Chief, Trade and Financial Studies Section, 1984. Economist, Research Department, International Monetary Fund, Oct. 1982 – Sept. 1983. VISITING POSITIONS BP-LSE Visiting Centennial Professor, London School...
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...Details timeline of Shangri-La’s external context [C] TABLE 1 – Popular social networking sites (adapted from Luebke, 2010) [D] TABLE 2 – Broad Environment Analysis to Shangri-La hotels’ strategies development [E] Financial Statement 2009-2010 (Sources: 2010 Sustainability Report of Shangri-La Asia Limited, p.9) [F] Commitment of Social Responsibility (CSR) structure & focus areas (Shangri-La) [G] Context of Shangri-La Academy Courses & Work-life balance [H] Employee profile & turnover survey in Shangri-La (Sources: 2010 Sustainability Report of Shangri-La Asia Limited, p.13-15) [I] Shangri-La’s Supplier Code of Code (Sources: Official Website) [J] Shangri-La’s Five Force Analysis Table 1. Introduction In this essay, I will first briefly descript the background of the Shangri-La hotels and resorts. Then, I will in-deep analyze the general environment and organizational...
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...www.GetPedia.com History of China: Table of Contents q q Historical Setting The Ancient Dynasties r r r Dawn of History Zhou Period Hundred Schools of Thought q The Imperial Era r r r r r r First Imperial Period Era of Disunity Restoration of Empire Mongolian Interlude Chinese Regain Power Rise of the Manchus q Emergence Of Modern China r r r r r r Western Powers Arrive First Modern Period Opium War, 1839-42 Era of Disunity Taiping Rebellion, 1851-64 Self-Strengthening Movement Hundred Days' Reform and Aftermath Republican Revolution of 1911 q Republican China r r r Nationalism and Communism s Opposing the Warlords s Consolidation under the Guomindang s Rise of the Communists Anti-Japanese War Return to Civil War q People's Republic Of China r r Transition to Socialism, 1953-57 Great Leap Forward, 1958-60 r r r r r Readjustment and Recovery, 1961-65 Cultural Revolution Decade, 1966-76 s Militant Phase, 1966-68 s Ninth National Party Congress to the Demise of Lin Biao, 1969-71 s End of the Era of Mao Zedong, 1972-76 Post-Mao Period, 1976-78 China and the Four Modernizations, 1979-82 Reforms, 1980-88 q References for History of China [ History of China ] [ Timeline ] Historical Setting The History Of China, as documented in ancient writings, dates back some 3,300 years. Modern archaeological studies provide evidence of still more ancient origins in a culture that flourished between 2500 and 2000 B.C....
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...org/page/info/about/policies/terms.jsp . 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. . University of California Press is collaborating with JSTOR to digitize, preserve and extend access to Asian Survey. http://www.jstor.org W i l l i a m a . Ca l l a h a n China’s Strategic Futures Debating the Post-American World Order a b S t r aC t This essay examines how China’s “harmonious world†foreign policy has unintentionally created opportunities for citizens to challenge elite discussions of foreign policy. Although they are relative outsiders, the essay argues that citizen intellectuals are a growing influence as a source of ideas about China’s future—and the world’s. K e y W o r d S : China, foreign policy, strategy, public intellectual, civil society Although we did not recognize it at the time, Beijing’s current assertive foreign policy started in September 2005 when Chinese President Hu Jintao delivered a major speech to a global audience at the United Nations. From the podium of the General Assembly, Hu introduced “Harmonious World†as a new concept of global politics, explaining that his goal was to “build a harmonious world of lasting peace and...
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...RETHINKING THE (EUROPEAN) FOUNDATIONS OF SUB-SAHARAN AFRICAN REGIONAL ECONOMIC INTEGRATION: A POLITICAL ECONOMY ESSAY by Peter Draper Research area: African Economic Outlook September 2010 Working Paper No. 293 Rethinking the (European) Foundations of Sub-Saharan African Regional Economic Integration: A Political Economy Essay DEV/DOC(2010)10 2 © OECD 2010 DEVELOPMENT CENTRE WORKING PAPERS This series of working papers is intended to disseminate the Development Centre’s research findings rapidly among specialists in the field concerned. These papers are generally available in the original English or French, with a summary in the other language. Comments on this paper would be welcome and should be sent to the OECD Development Centre, 2 rue André Pascal, 75775 PARIS CEDEX 16, France; or to dev.contact@oecd.org. Documents may be downloaded from: http://www.oecd.org/dev/wp or obtained via e-mail (dev.contact@oecd.org). THE OPINIONS EXPRESSED AND ARGUMENTS EMPLOYED IN THIS DOCUMENT ARE THE SOLE RESPONSIBILITY OF THE AUTHOR AND DO NOT NECESSARILY REFLECT THOSE OF THE OECD OR OF THE GOVERNMENTS OF ITS MEMBER COUNTRIES ©OECD (2010) Applications for permission to reproduce or translate all or part of this document should be sent to rights@oecd.org CENTRE DE DÉVELOPPEMENT DOCUMENTS DE TRAVAIL Cette série de documents de travail a pour but de diffuser rapidement auprès des spécialistes dans les domaines concernés les résultats des travaux de recherche du Centre...
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...SPECIAL REPORT Top 10 Best Practices in HR Management For 2011 30610860 SPECIAL REPORT Top 10 Best Practices in HR Management For 2011 30610860 Executive Publisher and Editor in Chief: Robert L. Brady, J.D. Managing Editor–HR: Legal Editor: Editor: Production Supervisor: Graphic Design: Production & Layout: Patricia M. Trainor, J.D. Susan E. Prince, J.D. Elaine V. Quayle Isabelle B. Smith Catherine A. Downie Sherry Newcomb This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional services. If legal advice or other expert assistance is required, the services of a competent professional should be sought. (From a Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers.) © 2006-2011 BUSINESS & LEGAL REPORTS, INC. All rights reserved. This book may not be reproduced in part or in whole by any process without written permission from the publisher. Authorization to photocopy items for internal or personal use or the internal or personal use of specific clients is granted by Business & Legal Reports, Inc. For permission to reuse material from Top 10 Best Practices in HR Management for 2011, ISBN 1-55645-317-5, please go to http://www.copyright.com or contact the Copyright Clearance Center, Inc. (CCC), 222 Rosewood Drive...
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...Writing Tips For Economics Research Papers∗ Plamen Nikolov, Harvard University † June 10, 2013 1 General Tips about Writing Style When I read your term papers, I look for your ability to motivate your question using economic logic, your ability to critically analyze the past literature, and your ability to recognize empirical problems as they arise. In particular, it is important that your term paper demonstrates that you are more knowledgeable, analytic, and sophisticated about the economics of health or development economics than we would expect, say, a clever editorial writer for The New York Times to be. You should present evidence, cite literature, explain economic trade-os, and generally approach the issue from an analytic perspective. Sometimes, a student is tempted to stray into opinion-page, journalistic writing in his or her term paper. Do not do this. Teaching good economics writing is one of the goals of the departmental writing requirement and is a valuable lesson for potential thesis writers. You will get a lower grade if your writing is • ungrammatical, • unclear, • journalistic. If you have trouble writing grammatically, please leave yourself some extra time and go to a writing 1 tutor . Clarity is the rst priority in economics writing. Do not worry about being snappy if you are being clear. Journalistic writing is characterized by the lack of an analytical tone. Below, you will nd some notes about the...
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...Writing Tips For Economics Research Papers∗ Plamen Nikolov, Harvard University † June 10, 2013 1 General Tips about Writing Style When I read your term papers, I look for your ability to motivate your question using economic logic, your ability to critically analyze the past literature, and your ability to recognize empirical problems as they arise. In particular, it is important that your term paper demonstrates that you are more knowledgeable, analytic, and sophisticated about the economics of health or development economics than we would expect, say, a clever editorial writer for The New York Times to be. You should present evidence, cite literature, explain economic trade-os, and generally approach the issue from an analytic perspective. Sometimes, a student is tempted to stray into opinion-page, journalistic writing in his or her term paper. Do not do this. Teaching good economics writing is one of the goals of the departmental writing requirement and is a valuable lesson for potential thesis writers. You will get a lower grade if your writing is • ungrammatical, • unclear, • journalistic. If you have trouble writing grammatically, please leave yourself some extra time and go to a writing 1 tutor . Clarity is the rst priority in economics writing. Do not worry about being snappy if you are being clear. Journalistic writing is characterized by the lack of an analytical tone. Below, you will nd some notes about the...
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...Journal of Economic Literature 2011, 49:4, 1076–1151 http:www.aeaweb.org/articles.php?doi=10.1257/jel.49.4.1076 The Fundamental Institutions of China’s Reforms and Development Chenggang Xu* China’s economic reforms have resulted in spectacular growth and poverty reduction. However, China’s institutions look ill-suited to achieve such a result, and they indeed suffer from serious shortcomings. To solve the “China puzzle,” this paper analyzes China’s institution—a regionally decentralized authoritarian system. The central government has control over personnel, whereas subnational governments run the bulk of the economy; and they initiate, negotiate, implement, divert, and resist reforms, policies, rules, and laws. China’s reform trajectories have been shaped by regional decentralization. Spectacular performance on the one hand and grave problems on the other hand are all determined by this governance structure. ( JEL O17, O18, O43, P21, P25, P26) 1. Introduction hinese economic reforms, which have been in flux for three decades, have more than doubled China’s economic growth, from an average of 4.4 percent annually before 1978 to an average of 9.5 percent after 1978. * University of Hong Kong and WCU–SNU. The first draft of this paper was written at Hong Kong University of Science and Technology (HKUST) when I was visiting there. The hospitality and generous support of HKUST are greatly appreciated. Comments from participants in conferences and seminars at the China...
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...Curriculum Source References The following references were used in the CFA Institute-produced publications Quantitative Methods for Investment Analysis, Analysis of Equity Investments: Valuation, and Managing Investment Portfolios: A Dynamic Process. Ackerman, Carl, Richard McEnally, and David Ravenscraft. 1999. “The Performance of Hedge Funds: Risk, Return, and Incentives.” Journal of Finance. Vol. 54, No. 3: 833–874. ACLI Survey. 2003. The American Council of Life Insurers. Agarwal, Vikas and Narayan Naik. 2000. “Performance Evaluation of Hedge Funds with OptionBased and Buy-and-Hold Strategies.” Working Paper, London Business School. Ali, Paul Usman and Martin Gold. 2002. “An Appraisal of Socially Responsible Investments and Implications for Trustees and Other Investment Fiduciaries.” Working Paper, University of Melbourne. Almgren, Robert and Neil Chriss. 2000/2001. “Optimal Execution of Portfolio Transactions.” Journal of Risk. Vol. 3: 5–39. Altman, Edward I. 1968. “Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy.” Journal of Finance. Vol. 23: 589–699. Altman, Edward I. and Vellore M. Kishore. 1996. “Almost Everything You Wanted to Know about Recoveries on Defaulted Bonds.” Financial Analysts Journal. Vol. 52, No. 6: 57−63. Altman, Edward I., R. Haldeman, and P. Narayanan. 1977. “Zeta Analysis: A New Model to Identify Bankruptcy Risk of Corporations.” Journal of Banking and Finance. Vol. 1: 29−54. Ambachtsheer, Keith, Ronald Capelle, and...
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