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What Goes on Under the Hood? How Engineers Innovate in the Automotive Supply Chain
Helper, Susan - 2016
generating innovation and economic growth. In this chapter, we seek to offer some description of engineering work by looking in … innovation. Autos account for 5% of US GDP and in 2011, 70% of auto suppliers contributed design effort, a task typically … performed by engineers, making the auto supply chain an important context in which to study engineering and innovation …
Persistent link: https://www.econbiz.de/10012456127
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India Transformed? Insights from the Firm Level 1988-2005
Alfaro, Laura - 2009
Using firm-level data this paper analyzes the transformation of India's economic structure following the implementation of economic reforms. The focus of the study is on publicly-listed and unlisted firms in manufacturing and services industries. Detailed balance sheet and ownership information...
Persistent link: https://www.econbiz.de/10012463201
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The Value Spread as a Predictor of Returns
Lu, Naiping - 2005
Recent studies have used the value spread to predict aggregate stock returns to construct cash-flow betas that appear to explain the size and value anomalies. We show that two related variables, the book-to-market spread (the book-to-market of value stocks minus that of growth stocks) and the...
Persistent link: https://www.econbiz.de/10012467357
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Sharpening Sharpe Ratios
Goetzmann, William - 2002
It is now well known that the Sharpe ratio and other related reward-to-risk measures may be manipulated with option-like strategies. In this paper we derive the general conditions for achieving the maximum expected Sharpe ratio. We derive static rules for achieving the maximum Sharpe ratio with...
Persistent link: https://www.econbiz.de/10012469595
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Productivity, Output, and Failure : A Comparison of Taiwanese and Korean Manufacturers
Aw, Bee Yan - 2002
Industry cost and demand conditions can vary across countries leading to differences in industry market structure, including the distribution of output and productivity across firms and the magnitude of entry and exit flows. It has been argued that despite many outward similarities, two of the...
Persistent link: https://www.econbiz.de/10012469949
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The Value Spread
Cohen, Randolph B. - 2001
We decompose the cross-sectional variance of firms' book-to-market ratios using both a long U.S. panel and a shorter international panel. In contrast to typical aggregate time-series results, transitory cross-sectional variation in expected 15-year stock returns causes only a relatively small...
Persistent link: https://www.econbiz.de/10012470482
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Investment, Fundamentals and Finance
Gilchrist, Simon - 1998
Financial variables such as cash flow and cash stocks are robust and quantitatively important explanatory variables for investment at the firm-level. A large body of recent empirical work attributes these findings to capital market imperfections. This interpretation is controversial, however,...
Persistent link: https://www.econbiz.de/10012472158
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Teacher Performance and Accountability Incentives
Macartney, Hugh - 2018
This paper documents a new empirical regularity: teacher value-added increases within-teacher when accountability incentives are strengthened. That finding motivates a strategy to separate value-added into incentive-varying teacher effort and incentive-invariant teacher ability, combining rich...
Persistent link: https://www.econbiz.de/10012452973
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The Dynamic Effects of Educational Accountability
Macartney, Hugh - 2014
This paper provides the first evidence that value-added education accountability schemes induce dynamic distortions. Extending earlier dynamic moral hazard models, I propose a new test for ratchet effects, showing that classroom inputs are distorted less when schools face a shorter horizon over...
Persistent link: https://www.econbiz.de/10012458749
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Bayesian Performance Evaluation
Baks, Klaas - 1999
This paper proposes a Bayesian method of performance evaluation for investment managers. We begin with a flexible set of prior beliefs that can be elicited without any reference to probability distributions or their parameters. We then combine these prior beliefs with a general multi-factor...
Persistent link: https://www.econbiz.de/10012471727