spurious regression problem when the dependent and independent variables in a time series regression are ratios composed of … common component variables. The paper’s results therefore imply that extreme care should be taken when using ratios as … predictor or explanatory variables in time series regression. The paper introduces a reformulated Lintner first difference …

environment, etc., are among variables explaining the training needs of various kinds in a company. The results would also provide … opportunities. Lastly, the direction for further studies is proposed, including the impact of macro variables, featured for … developed and developing countries, and of variables that interfere with the process of transferring from real needs to …