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Gleason, Cristi A., and Charles M. C. Lee. "Analyst Forecast Revisions and Market Price Discovery." Accounting Review 78, no. 1 (January 1, 2003): 193–225. http://dx.doi.org/10.2308/accr.2003.78.1.193.
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We document several factors that help explain cross-sectional variations in the post-revision price drift associated with analyst forecast revisions. First, the market does not make a sufficient distinction between revisions that provide new information (“high-innovation” revisions) and revisions that merely move toward the consensus (“low-innovation” revisions). Second, the price adjustment process is faster and more complete for “celebrity” analysts (Institutional Investor All-Stars) than for more obscure yet highly accurate analysts (Wall Street Journal Earnings-Estimators). Third, controlling for other factors, the price adjustment process is faster and more complete for firms with greater analyst coverage. Finally, a substantial portion of the delayed price adjustment occurs around subsequent earnings-announcement and forecast-revision dates. Collectively, these findings show that more subtle aspects of an earnings revision signal can hinder the efficacy of market price discovery, particularly in firms with relatively low analyst coverage, and that subsequent earnings-related news events serve as catalysts in the price discovery process.
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Kudryavtsev, Andrey. "The correlation between stock returns before and after analyst recommendation revisions." Ekonomski anali 66, no. 228 (2021): 69–100. http://dx.doi.org/10.2298/eka2128069k.
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In this study I analyse the correlation between stock returns before and after analyst recommendation revisions. I hypothesise that if a recommendation revision for a given stock takes place after a short period when the stock?s price moves in the opposite direction, it may indicate that the fundamentals that caused the analyst to revise their recommendation are less completely (if at all) incorporated in the stock price, significantly increasing the probability of subsequent post-event price drift. Analysing a large sample of recommendation revisions, I document that both recommendation upgrades and downgrades are followed by significant one-tosix-month price drifts (reversals) if they are preceded by the opposite-sign (same-sign) short-term cumulative abnormal returns. The effect remains significant after accounting for additional relevant company specific (size, Market Model beta, historical volatility) and event-specific (stock?s return and trading volume on the event day, brokerage firm size, analyst experience, recommendation category before the revision, number of categories changed in the revision) factors.
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López-Nicolás, Ángel, and Michal Stoklosa. "Tax harmonisation and tobacco product prices in the European Union, 2004–2015." Tobacco Control 28, no. 4 (August 17, 2018): 434–39. http://dx.doi.org/10.1136/tobaccocontrol-2018-054342.
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ObjectivesThe European Commission has formally opened a process of revision of its tobacco tax directive. The purpose of this study is to analyse the evolution of cigarette and roll-your-own (RYO) tobacco prices in order to identify avenues for the improvement of public health goals.MethodsPooled cross-sectional data on prices and taxes on cigarettes and RYO tobacco in the Member States over 2004–2015 is used to track the distributions of the most popular price category and the weighted average price of these products and to relate them to the underlying tax structure.ResultsThe inflation-adjusted prices for the two products have increased over the period, but the dispersion of prices across Member States has remained constant. Throughout the period, there was a pervasive price gap between cigarettes and RYO tobacco within the Member States. Such features are explained by the underlying tax design.DiscussionThe current tax stance has been successful at increasing both cigarette and RYO tobacco prices. To further enhance the public health impact of the European Union tax directive, the revision should promote the convergence of prices across Member States and aim at closing the price gap between cigarettes and RYO tobacco. These objectives call for increasing the mandatory minimum levels of excise duty on the two products, preferably linking them to the evolution of a European weighted average price. The pace of increase should be faster for RYO tobacco in order to close the gap with respect to cigarette prices.
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Hsieh, Tsung-Yu, Tsai-Yin Lin, Fangjhy Li, and Yi-Ting Huang. "Analyst’s Target Price Revision and Dealer’s Trading Behavior Analysis: Evidence from Taiwanese Stock Market." Sustainability 15, no. 4 (February 15, 2023): 3593. http://dx.doi.org/10.3390/su15043593.
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This work utilizes the Taiwanese data primarily focused on retailing investor behavior to examine whether Taiwanese brokerage analysts issue target price revisions, whether implicit information connotation exists and whether their own brokerages use the market reaction brought about by target price revisions to conduct conflict of interest operations. The event study is used to verify whether the above results exist. The empirical results show that analysts may publish information that includes investment recommendations, earnings forecasts, or price target forecasts. Whether investors with immediate and post-event media coverage revise their relevant investment strategies and avoid serious losses caused by this news is established. The research results show that the target price revision has implicit information content no matter the target price being revised. In addition, a conflict of interest between dealers’ trading behavior and analysts’ target price revisions exists. The major contribution of this work is to fill the research gaps concerning which retail investors are easily influenced by social media and herding behavior, as well as target price forecasting. The most efficient use of resources relates to the satisfaction of everyone’s interests on a fair basis, and thus greater contribution. The governance mechanism and check and balance function can help maximize the value of the company, not only by enhancing the competitiveness of the enterprise, but also by increasing the value of shareholders’ rights and interests and better fulfilling corporate social responsibility.
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Bochkay, Khrystyna, Roman Chychyla, Srini Sankaraguruswamy, and Michael Willenborg. "Management Disclosures of Going Concern Uncertainties: The Case of Initial Public Offerings." Accounting Review 93, no. 6 (January 1, 2018): 29–59. http://dx.doi.org/10.2308/accr-52027.
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ABSTRACT We study the information content and determinants associated with voluntary management disclosures of going concern (GC) uncertainties by IPO issuers. In terms of information content, we examine IPO price revision and initial return and find robust support that management GC disclosures are associated with downward revisions in the IPO offer price and, upon considering the mediating effects of the price revision, also associated with lower initial returns. In terms of determinants, and after controlling for other factors (e.g., issuer distress, start-up status, size, cash burn), we find that the presence of a management GC disclosure is negatively associated with a proxy for issuer financial incentives to withhold “bad news” and positively associated with the extent of risk factors disclosure. Overall, our results provide support for the information content of voluntary management disclosures of GC uncertainties by IPO issuers, the presence of which is associated with agency and risk motivations. JEL Classifications: G24; G32; M13; M41.
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Tanishita, Masayoshi, and Daisuke Sunaga. "Heterogeneity and Temporal Stability of Residential Water Use Responsiveness to Price Change." Water 13, no. 17 (August 25, 2021): 2329. http://dx.doi.org/10.3390/w13172329.
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Many papers estimate the price elasticity of water demand. However, heterogeneity and temporal variation of price elasticity of residential water use are still unclear. We analyze these issues by applying the latent class analysis and t-test using disaggregated data of approximately 30,000 households recorded over five years: Two years before and three years after a tariff revision. As a result, the households are divided into three (heterogeneous) groups: About 5% of them responded to the price change sensitively, 40–60% slightly, and 35–55% not at all. Households with high water use prior to the revision had higher price elasticity. In addition, the price elasticity in the first and third years after the revision was the same.
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Dreghorn, C. R., and D. L. Hamblen. "Revision arthroplasty: a high price to pay." BMJ 298, no. 6674 (March 11, 1989): 648–49. http://dx.doi.org/10.1136/bmj.298.6674.648.
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Semenovich, Kristina Sergeevna, and Yu Gao. "On ensuring stable natural gas supplies in China and Japan." Международное право и международные организации / International Law and International Organizations, no. 1 (January 2022): 34–45. http://dx.doi.org/10.7256/2454-0633.2022.1.37470.
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China and Japan are the two largest importers of natural gas in the world. Both countries have accelerated the reform of domestic natural gas markets and the establishment of domestic natural gas trading centers (natural gas hubs) in order to achieve carbon neutrality goals and ensure the security of domestic natural gas supplies. The conclusion of short- and medium-term contracts for the supply of liquefied natural gas (LNG) affected the execution of long-term contracts, the prices of which were tied to JCC. As a result, Chinese and Japanese natural gas buyers began to demand that international natural gas sellers, including Russia, use hub market prices. The article analyzes measures to ensure the security of natural gas supplies and reforms of domestic natural gas markets in China and Japan. The interrelations, advantages and disadvantages of long-term, short-term and spot contracts are highlighted. Based on the analysis of the court decision in the case of GNA v. Atlantic LNG, the conclusions of international arbitration practice on price revision clauses are summarized. The following conclusions are drawn： 1. Arbitration proceedings on the revision of prices contributes to the transition from a formula for calculating prices linked to the oil price index to a pricing mechanism based on various indices of natural gas hubs.2. When concluding a new long-term contract, it is proposed to comprehensively use the price index of the emerging shopping center, the spot price and the price formula calculated by JCC.3. A long-term contract still plays an integral role in ensuring safe natural gas supplies in extreme events (for example: a similar COVID-19 epidemic).
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Bourassa, Steven C., Eva Cantoni, and Martin Hoesli. "Robust hedonic price indexes." International Journal of Housing Markets and Analysis 9, no. 1 (March 7, 2016): 47–65. http://dx.doi.org/10.1108/ijhma-11-2014-0050.
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Purpose – The purpose of this paper is to demonstrate the application of robust techniques to the estimation of hedonic house price indexes. Design/methodology/approach – The authors use simulation analysis to compare an index estimated using ordinary least squares (OLS) with several indexes estimated using robust techniques. The analysis uses sales transactions data from a US city. The authors then explore how robust methods can correct for omitted variables under some circumstances and how they affect the revision problem that occurs when longitudinal hedonic indexes are updated. Findings – Robust methods can resolve missing variable problems in some circumstances and also can substantially reduce the revision problem in longitudinal hedonic indexes. Practical implications – Robust techniques may be preferable to OLS when constructing longitudinal hedonic indexes. Originality/value – This is the first paper to undertake a systematic analysis of the applicability of robust techniques in constructing hedonic house price indexes.
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Sutcliffe, Jonathan, and Jonathan Blaney. "Arbitration of LNG Price Review Disputes." BCDR International Arbitration Review 7, Issue 1 (June 1, 2020): 133–48. http://dx.doi.org/10.54648/bcdr2021019.
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Price review arbitration remains a prevalent feature of the Liquefied Natural Gas (LNG) industry. Contractual pricing schemes may require periodical adjustment to realign them with prevailing commercial realities or market conditions. Price review clauses may provide for the review and potential revision of the contract price, by agreement, at specific times and on the occurrence and fulfillment of certain conditions.Where agreement cannot be reached, disputes will often be settled by international arbitration. Some of the more commonly seen characteristics of price review clauses are explored below, together with the associated processes by which parties may seek to agree revision of the contract price, and failing agreement, the referral of that dispute to arbitration.
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Deng, Yongheng, and John M. Quigley. "Index Revision, House Price Risk, and the Market for House Price Derivatives." Journal of Real Estate Finance and Economics 37, no. 3 (April 11, 2008): 191–209. http://dx.doi.org/10.1007/s11146-008-9113-7.
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Adhikara, MF Arrozi, Maslichah Maslichah, and Nur Diana. "Qualitative characteristics of accounting information in the belief revision of the users for the securities prospects in Indonesia Stock Exchange (IDX)." Journal of Economics, Business, & Accountancy Ventura 17, no. 1 (April 1, 2014): 91. http://dx.doi.org/10.14414/jebav.v17i1.269.
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The research attempts to reveal, in explanatory causality, the effect of the use of ac- counting information on the belief revision of stock selection for the security prospects in Indonesia Stock Exchange. The data were collected using survey on investment managers with individual unit analysis, through simple random sampling. They were analyzed using structural equation model (SEM). The result shows that there is posi- tive effect of the usefulness of accounting information on belief revision and return preferences; there is positive effect of the usefull of price information on belief revision and return preferences; there is positive effect of systematis risk on the usefulness of price information, and there is positive effect of belief revision on return preferences. This result also indicates negative effect of the usefulness of accounting information on the unsystematic risk; the negative effect of systematic risk on belief revision, as well as the negative effect of unsystematic risk on belief revision. Variables of unsystematic risk and belief revision are a mediating variable because it is increasing the effect and the relationships among variables. Yet, the use of price information is as a mediating because it lowers the effect between variables.The study also shows that accounting information is very useful because it contains value, relevan, reliabel, comparative information and has prospect in the future in decision making. Investment managers shlod be sophisticated, rational, prudent, and have risk preferences that can make a positive contribution in the advisory to investors.
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Deaton, Angus. "Price Indexes, Inequality, and the Measurement of World Poverty." American Economic Review 100, no. 1 (March 1, 2010): 5–34. http://dx.doi.org/10.1257/aer.100.1.5.
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I discuss the measurement of world poverty and inequality, with particular attention to the role of purchasing power parity (PPP) price indexes from the International Comparison Project. Global inequality increased with the latest revision of the ICP, and this reduced the global poverty line relative to the US dollar. The recent large increase of nearly half a billion poor people came from an inappropriate updating of the global poverty line, not from the ICP revisions. Even so, PPP comparisons between widely different countries rest on weak theoretical and empirical foundations. I argue for wider use of self-reports from international monitoring surveys, and for a global poverty line that is truly denominated in US dollars. (JEL C43, D31, I31, I32, F31)
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Prášilová, M., and J. Šulc. "Agricultural price statistics in the Czech Republic ." Agricultural Economics (Zemědělská ekonomika) 52, No. 11 (February 17, 2012): 510–15. http://dx.doi.org/10.17221/5058-agricecon.
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Price indices of agricultural producers and forestry price indices were revised in the year 2000. The process in question involved a revision of the set of commodities and re-basing of the current base period to the new base period effective for the calculation of agricultural price indices. The weighting scheme of products and their aggregated groups has been changed. The contribution deals with the analysis of a new project regarding the construction of price indices of agricultural producers according to the Eurostat methodology. This project shows different approaches in measuring the weighting schemes of seasonal products and products without seasonality.
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Casares, Miguel, and Jesús Vázquez. "DATA REVISIONS IN THE ESTIMATION OF DSGE MODELS." Macroeconomic Dynamics 20, no. 7 (January 28, 2016): 1683–716. http://dx.doi.org/10.1017/s1365100515000024.
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Revisions of U.S. macroeconomic data are persistent, correlated with real-time data, and with high variability (around 80% of U.S. real-time data volatility). This paper adapts a DSGE-style model to accommodate both real-time and revised data from the U.S. economy. The results show a lesser role of both habit formation and price indexation than in the standard model. In the simulations, revision shocks to both output and inflation are expansionary because the Fed reacts by cutting interest rates. Consumption revisions, in contrast, are countercyclical, consumption mirrors the observed reduction in real-time consumption. In the variance decomposition, data revisions explain 9.3% of output changes.
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Savina, Natalia, and Yaroslav Tsetsyk. "THE ROLE OF MUNICIPAL GOVERNMENT IN THE REGULATION OF THE PRICING OF THE VOLYN IN THE EARLY XX CENTURY." International Journal of New Economics and Social Sciences 2, no. 2 (December 30, 2015): 23–28. http://dx.doi.org/10.5604/01.3001.0010.4720.
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The article describes the features of the regulation on pricing policy of Volyn in the period of the early twentieth century. The role of local authorities in this process has been investigated. Found out that the bodies of municipal government during World War I tried to adjust the price of food and essential goods, but given the realities of the war, they were forced to their povyshat. An important element in this work city councils in Volyn was that they managed to avoid sharp jumps in prices for main groups of goods, to a certain extent weakened the social tension in the border areas. While the price review mechanism was used. The reasons for the revision of prices were handling the merchants with offers them to reconsider. So, these issues were dealt with at the local level and in different places the price could at one and the same product differ.
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Silfverberg, Hans, Toomas Tammaru, and Juhani Itämies. "Reviews: Catalogue of Ceutorhynchinae of the World, with a key to Genera, The Geometrid Moths of Europe, Die Larven der Europäeischen Noctuidae." Entomologica Fennica 16, no. 4 (December 1, 2005): 317–20. http://dx.doi.org/10.33338/ef.84279.
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Colonnelli, E. 2004: Catalogue of Ceutorhynchinae of the World, with a key to Genera. – Argania Editio, Barcelona. 124 pp. ISBN 84- 931847-6-4. Price 80 EUR.
Hausmann, A. 2004: The Geometrid Moths of Europe, Vol. 2: Sterrhinae. Apollo Books, Kirkeby Sand 19, DK-5771 Stenstrup, Denmark. ISBN 87-88757-37-4, Hardback, 600 pp. Price 960,00 DKK.
Beck, H. 1999–2000: Die Larven der Europäeischen Noctuidae. Revision der Systematik der Noctuidae (Larvae of European Noctuidae. Revision of the systematics of the Noctuidae). With the help of Matti Ahola (numerous drawings) and Ivar Hasenfuss (systematic notes on Noctuoidea, Acronictinae, and occasional drawings). Volumes I–IV. 864+448+336+512 pp. ISSN 0723-595X, ISBN 3-923807-04-X. Price 530 EUR.
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Brown, Lawrence D. "Discussion: “Dispersion in Analysts' Earnings Forecasts as a Measure of Uncertainty”." Journal of Accounting, Auditing & Finance 13, no. 3 (July 1998): 271–74. http://dx.doi.org/10.1177/0148558x9801300306.
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This paper tackles an interesting question; namely, whether dispersion in analysts' earnings forecasts reflects uncertainty about firms' future economic performance. It improves on the extant literature in three ways. First, it uses detailed analyst earnings forecast data to estimate analyst forecast dispersion and revision. The contrasting evidence of Morse, Stephan, and Stice (1991) and Brown and Han (1992), who respectively used consensus and detailed analyst data to examine the impact of earnings announcements on forecast dispersion, suggest that detailed data are preferable for determining the data set on which analysts' forecasts are conditioned. Second, it relates forecast dispersion to both analyst earnings forecast revision and stock price reaction to the subsequent earnings announcement. Previous studies related forecast dispersion to either analyst forecast revision (e.g., Stickel 1989) or to subsequent stock price movements (e.g., Daley et al. [1988]), but not to both revision and returns. Third, it includes the interim quarters along with the annual report. In contrast, previous research focused on the annual report, ignoring the interims (Daley et al. [1988]).
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Boeger, Walter A., and Delane C. Kritsky. "Phylogeny, coevolution, and revision of the hexabothriidae price, 1942 (Monogenea)." International Journal for Parasitology 19, no. 4 (July 1989): 425–40. http://dx.doi.org/10.1016/0020-7519(89)90099-4.
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Chaplin, Duncan D., Sandra L. Hofferth, and Douglas A. Wissoker. "Correction: Price and Quality in Child Care Choice: A Revision." Journal of Human Resources 31, no. 3 (1996): 703. http://dx.doi.org/10.2307/146273.
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Krsinich, Frances. "The FEWS Index: Fixed Effects with a Window Splice." Journal of Official Statistics 32, no. 2 (June 1, 2016): 375–404. http://dx.doi.org/10.1515/jos-2016-0021.
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Abstract This article describes the estimation of quality-adjusted price indexes from ‘big data’ such as scanner and online data when there is no available information on product characteristics for explicit quality adjustment using hedonic regression. The longitudinal information can be exploited to implicitly quality-adjust the price indexes. The fixed-effects (or ‘time-product dummy’) index is shown to be equivalent to a fully interacted time-dummy hedonic index based on all price-determining characteristics of the products, despite those characteristics not being observed. In production, this can be combined with a modified approach to splicing that incorporates the price movement across the full estimation window to reflect new products with one period’s lag without requiring revision. Empirical results for this fixed-effects window-splice (FEWS) index are presented for different data sources: three years of New Zealand consumer electronics scanner data from market-research company GfK; six years of United States supermarket scanner data from market-research company IRI; and 15 months of New Zealand consumer electronics daily online data from MIT’s Billion Prices Project.
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Shaikh, Zakirhusain, and Rambha Pathak. "Revised Kuppuswamy and B G Prasad socio-economic scales for 2016." International Journal Of Community Medicine And Public Health 4, no. 4 (March 28, 2017): 997. http://dx.doi.org/10.18203/2394-6040.ijcmph20171313.
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Background: Socio-economic scales are integral part in the assessment of social class of an individual/family, which can have an influence on disease causing factors. It is also vital for consideration when customising health education to the target audience. Socio-economic scales are dependent on evaluation of income and need to be updated with changing consumer price index. The objective of the study was to revise the socio-economic scales of Kuppuswamy and B G Prasad, taking into consideration the revision in consumer price index (industrial workers). Methods: The socio-economic scales were revised on the basis of updated CPI (IW) for the month of August 2016, using an online tool. Results: The updated Kuppuswamy and B G Prasad scales for the year 2016 were obtained using revised CPI (IW) and a simple online tool. Conclusions: Regular updating of socio-economic scales which depend on income and are therefore susceptible to changes, due to revisions in consumer price index, is necessary to maintain the validity of these scales, which are used widely in community surveys and social studies.
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Esteve Sala, Emili, Fátima Montes Barroso, Elvira Bel Prieto, and Josep María Suñé Negre. "Cross-sectional study on medicinal products without commercial interest (MPWCI) in the Spanish market." BMJ Open 9, no. 1 (January 2019): e023054. http://dx.doi.org/10.1136/bmjopen-2018-023054.
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ObjectiveTo confirm that there is a defined group of products to be protected in the Spanish therapeutic arsenal known as ‘medicinal products without commercial interest’ (MPWCI) and propose the adoption of legal measures aimed at avoiding, or reducing, the lack of supply of said products.DesignA cross-sectional study of proposed MPWCI based on a survey. The Spanish Agency of Medicines and Medical Devices (AEMPS) was asked for a list of presentations of medicines in order to identify those whose lack could have an impact on welfare.SettingA search on the AEMPS website and a survey conducted among 44 companies belonging to Farmaindustria has allowed for the development of a proposal list of presentations that should continue to be marketed in Spain.ResultsProducts proposed as MPWCI are old (50% of them have an authorisation of more than 50 years) and are developed by active substances of chemical origin, parenterally administered much more frequently than the rest of the general market (44%vs6.6%, respectively). Unlike oral forms, injectable forms require adequate manufacturing facilities to guarantee the quality and sterility of the product, which naturally increases the cost of the product whose price is low or obsolete. The company experts have not valued the current price revisions as a sufficient enough mechanism to change the consideration of these medicines with respect to the interest on the part of some Marketing Authorisation Holders to maintain their commercialisation.ConclusionsAs shown in the results, an upward revision of prices is necessary to contribute to the permanence of these presentations in the market, although some experts do not consider the current price revisions satisfactory enough to maintain these presentations in the market. Therefore, a specific regulation seems necessary to ensure the continuity on the market of these proposed products.
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Tahmoorespour, Reza, Mohamed Ariff, and Alireza Zarei. "Impact of Sovereign Debt Credit Rating Revision on Banking Industry: Evidence from G7 Countries." Journal of Central Banking Theory and Practice 8, no. 2 (May 1, 2019): 85–100. http://dx.doi.org/10.2478/jcbtp-2019-0015.
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Abstract The aim of this study is to identify the economic impacts on G7 banking industry when sovereign rating is revised. We used event study methodology (t-statistics) and found that sovereign rating changes significantly affect share market prices. It seems that there is information leakage prior to sovereign rating announcement dates as released by the S&P: there are some negative price effects as well on mixed-type rating change effects, such as ‘rating watch’ announcements. These are new findings that may help to extend the sovereign rating literature in terms of findings from multiple countries, and on sustainability of debt taking.
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Ahmad, Syed Raziuddin, Nabil Ahmed Mareai Senan, Ijaz Ali, Kashif Ali, Imran Ahmad Khan, and Asif Baig. "Investor Reaction to the Discovery of Accounting Fraud: The Period from the Discovery of the Fraud to the Completion of the Correction." Academic Journal of Interdisciplinary Studies 10, no. 6 (November 5, 2021): 171. http://dx.doi.org/10.36941/ajis-2021-0163.
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This paper examines the period from the discovery of accounting fraud to the completion of correction and examines the reaction of investors on the date of the first news release suggesting accounting manipulation, the date of the subsequent release of information related to the amount of profit correction that was not disclosed on the date of the first news release, and the date of the submission of the correction report. The verification results show that the stock price falls sharply on the day of the first news release and the day when the information about the amount of profit revision is disclosed, that when the amount of profit revision is large and it takes time to disclose information about the amount of profit revision, there is a rebound in the stock price on the day when the correction report is submitted because investors like the resolution of uncertainty, and that there is a relationship between the amount of profit revision and the size of stock price decline. However, when there is no information about the amount of correction on the first day of the news release, investors react uniformly, and the reaction to a large (small) amount of correction is underreaction (overreaction). These results indicate that investors were misled by the misstatements until the fraud was discovered and made decisions based on overestimates of future cash flows, so they suffered unexpected losses when the fraud was discovered, and during the period from the fraud discovery to the completion of correction.
Received: 3 August 2021 / Accepted: 6 October 2021 / Published: 5 November 2021
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Wittmann-Price, Ruth A., and Samuel W. Price. "Development and Revision of the Wittmann-Price Emancipated Decision-Making Scale." Journal of Nursing Measurement 22, no. 3 (2014): 361–67. http://dx.doi.org/10.1891/1061-3749.22.3.361.
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Background and Purpose: The original Emancipated Decision-Making (EDM) scale was revised to test 3 subconcepts (flexible environment, personal knowledge, and awareness of social norms) of an emancipated decision-making process. Methods: The original EDM scale was significantly related to the Satisfaction with Decision (SWD) scale in two separate studies (r = 0.79, r = 0.59). Two of the original 5 subconcepts showed a lack of contribution. The third study (N = 50) had good total scale reliability (r = 0.89). Results: The revised EDM (EDM-r) scale was then leveled to the SWD scores and quantified into 2 categories and the subscales for the 3 subconcepts were reanalyzed for reliability and scale-if-item contribution. Conclusion: The final EDM-r is a generically worded, 20-item, 3-subscale instrument with good total and individual subscale reliability.
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Wu, Harry X. "The Chinese GDP Growth Rate Puzzle: How Fast Has the Chinese Economy Grown?" Asian Economic Papers 6, no. 1 (February 2007): 1–23. http://dx.doi.org/10.1162/asep.2007.6.1.1.
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The Chinese statistical authorities recently revised the Chinese GDP level and real growth rate for the period 1993–2004 following China's first national economic census for 2004. However, the methodology used in their revision is opaque. Using a trend- deviation interpolation approach, this study has managed to replicate the basic procedures of the revision and reproduced the official estimates. Through this exercise, we have found that the estimates that could be obtained by the straightforward interpolation procedures were significantly modified. Based on a political economy argument, we attempt to explain why the revision had to leave the growth rate of 1998 intact and why it had to bypass the price issue and directly work on the real growth rate revision. Based on previous studies and other observations, we also question the census results on non-service industries.
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Safaee, Michael M., Cecilia L. Dalle Ore, Corinna C. Zygourakis, Vedat Deviren, and Christopher P. Ames. "Estimating a price point for cost-benefit of bone morphogenetic protein in pseudarthrosis prevention for adult spinal deformity surgery." Journal of Neurosurgery: Spine 30, no. 6 (June 2019): 814–21. http://dx.doi.org/10.3171/2018.12.spine18613.
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OBJECTIVEBone morphogenetic protein (BMP) is associated with reduced rates of pseudarthrosis and has the potential to decrease the need for revision surgery. There are limited data evaluating the cost-benefit of BMP for pseudarthrosis-related prevention surgery in adult spinal deformity.METHODSThe authors performed a single-center retrospective review of 200 consecutive patients with adult spinal deformity. Demographic data and costs of BMP, primary surgery, and revision surgery for pseudarthrosis were collected. Patients with less than 12 months of follow-up or with infection, tumor, or neuromuscular disease were excluded.RESULTSOne hundred fifty-one patients (107 [71%] women) with a mean age of 65 years met the inclusion criteria. The mean number of levels fused was 10; BMP was used in 98 cases (65%), and the mean follow-up was 23 months. Fifteen patients (10%) underwent surgical revision for pseudarthrosis; BMP use was associated with an 11% absolute risk reduction in the rate of reoperation (17% vs 6%, p = 0.033), with a number needed to treat of 9.2. There were no significant differences in age, sex, upper instrumented vertebra, or number of levels fused in patients who received BMP. In a multivariate model including age, sex, number of levels fused, and the upper instrumented vertebra, only BMP (OR 0.250, 95% CI 0.078–0.797; p = 0.019) was associated with revision surgery for pseudarthrosis. The mean direct cost of primary surgery was $87,653 ± $19,879, and the mean direct cost of BMP was $10,444 ± $4607. The mean direct cost of revision surgery was $52,153 ± $26,985. The authors independently varied the efficacy of BMP, cost of BMP, and cost of reoperation by ± 50%; only reductions in the cost of BMP resulted in a cost savings per 100 patients. Using these data, the authors estimated a price point of $5663 in order for BMP to be cost-neutral.CONCLUSIONSUse of BMP was associated with a significant reduction in the rates of revision surgery for pseudarthrosis. At its current price, the direct in-hospital costs for BMP exceed the costs associated with revision surgery; however, this likely underestimates the true value of BMP when considering the savings associated with reductions in rehabilitation, therapy, medication, and additional outpatient costs.
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Chapman, Joe, and Russ Wahlers. "A Revision and Empirical Test of the Extended Price-Perceived Quality Model." Journal of Marketing Theory and Practice 7, no. 3 (July 1999): 53–64. http://dx.doi.org/10.1080/10696679.1999.11501840.
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Dambra, Michael J., Matthew Gustafson, and Phillip J. Quinn. "Tax-Advantaged Trust Use Among IPO Executives: Determinants and Implications for Valuation and Future Performance." Accounting Review 95, no. 3 (October 5, 2019): 145–75. http://dx.doi.org/10.2308/accr-52590.
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ABSTRACT We examine the prevalence and determinants of CEOs' use of tax-advantaged trusts prior to their firm's IPO. Twenty-three percent of CEOs use tax-advantaged pre-IPO trusts, and share transfers into tax-advantaged trusts are positively associated with CEO equity wealth, estate taxes, and dynastic preferences. We project that pre-IPO trust use increases CEOs' dynastic wealth by approximately $830,000, on average. We next examine a simple model's prediction that trust use will be positively related to IPO-period stock price appreciation. We find that trust use is associated with 12 percent higher one-year post-IPO returns, but is not significantly related to the IPO's valuation, filing price revision, or underpricing. This evidence is consistent with CEOs' personal finance decisions prior to the IPO containing value-relevant information that is not immediately incorporated into market prices. JEL Classifications: D14; G12; G32; M21; M41. Data Availability: Data are available from the public sources cited in the text.
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Vilkamaa, Pekka, and Antti Haarto. "Reviews: The Empidoidea (Diptera) of Fennoscandia and Denmark, The Genus Syritta - A World Revision of the Genus Syritta." Entomologica Fennica 18, no. 2 (June 1, 2007): 126–28. http://dx.doi.org/10.33338/ef.84385.
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Chvála, M. 2005: The Empidoidea (Diptera) of Fennoscandia and Denmark. IV. Genus Hilara. Fauna Entomologica Scandinavica, Vol. 40. Brill Academic Publishers, Leiden-Boston. ISBN 9004147993, 233 pp. Price 99 EUR.
Lyneborg, Leif&Barkemeyer,Werner 2005: The Genus Syritta, A World Revision of the Genus Syritta Le Peletier & Serville, 1828 (Diptera: Syrhidae). Entomonograph Volume 15, A series facing global biodiversity in insects. Apollo books, Kirkeby Sand 19, DK-5771 Stenstrup, Denmark. ISBN 87-88757-53-6, Hardback, 224 pp. Price 420.00 DKK.
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Forghani, Kamran, Abolfazl Mirzazadeh, and Mehdi Rafiee. "A Price-Dependent Demand Model in the Single Period Inventory System with Price Adjustment." Journal of Industrial Engineering 2013 (December 30, 2013): 1–9. http://dx.doi.org/10.1155/2013/593108.
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The previous efforts toward single period inventory problem with price-dependent demand only investigate the optimal order quantity to minimize the total inventory costs; however, there is no method in the literature to avoid unwanted costs due to the deviation between the actual demand and the previously estimated demand. To fill this gap, the present paper supposes that stochastic demand rate with normal distribution is sensitive to the selling price; this means that increasing the selling price would decrease the demand rate and vice versa. After monitoring the consumption trend within a section of the period, a new selling price is implemented to change the demand rate and reduce the shortage or salvage costs at the end of the period. Three functions were suggested to represent the demand rate as a function of selling price, and the numerical analysis was implemented to solve the proposed problem. Finally, an illustrative numerical example was solved for different configurations in order to show the advantages of the proposed model. The results revealed that there is a significant improvement in the system costs when price revision is considered.
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Allen, David, Shelton Peiris, and Joey Wenling Yang. "An Examination of the Role of Time and its Impact on Price Revision." Australian Journal of Management 30, no. 2 (December 2005): 283–301. http://dx.doi.org/10.1177/031289620503000206.
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Clapham, Eric, Peter Englund, John M. Quigley, and Christian L. Redfearn. "Revisiting the Past and Settling the Score: Index Revision for House Price Derivatives." Real Estate Economics 34, no. 2 (June 2006): 275–302. http://dx.doi.org/10.1111/j.1540-6229.2006.00167.x.
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Trancossi, Michele. "What price of speed? A critical revision through constructal optimization of transport modes." International Journal of Energy and Environmental Engineering 7, no. 4 (February 10, 2015): 425–48. http://dx.doi.org/10.1007/s40095-015-0160-6.
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Outa, Erick Rading, Peterson Ozili, and Paul Eisenberg. "IFRS convergence and revisions: value relevance of accounting information from East Africa." Journal of Accounting in Emerging Economies 7, no. 3 (August 14, 2017): 352–68. http://dx.doi.org/10.1108/jaee-11-2014-0062.
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Purpose The purpose of this paper is to examine the relative value relevance of accounting information arising from the adoption of converged and revised International Accounting Standards (IAS)/International Financial Reporting Standards (IFRS) in East Africa. Design/methodology/approach The research applies “same firm year” design for identification of the effects of changes in accounting standards. A model similar to Ohlson’s price model and random-effects GLS are used to estimate R2 of the regressions of share prices on book values and earnings. Findings The results show that accounting information prepared from revised and converged IAS/IFRS display higher value relevance and also increased following the revision and convergence of IAS/IFRS. The cross-product term is more significant in the post-revision/convergence period thus providing further evidence for increased value relevance after the revision of IAS/IFRS. The results are robust to various models and show that value relevance in East Africa is relatively lower than that of the developed markets. Originality/value The current study provides empirical evidence that value relevance increases with converged/revised IAS/IFRS based on quasi natural experimental setting in East Africa. The authors also extend the debate on whether value relevance is relevant in emerging markets, which are regarded as imperfect markets with few regulations, weak enforcement and limited sources of information. The results may be useful to accounting preparers, regulators, investors, standard setters and countries seeking to adopt IAS/IFRS in developing countries.
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Griffin, Paul, and Herbert Smith. "Price reopeners—challenges and opportunities." APPEA Journal 50, no. 2 (2010): 681. http://dx.doi.org/10.1071/aj09045.
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The long-term sale and purchase agreements which have long under-pinned the LNG business have seen increasing sophistication in their price review provisions and price re-openers in recent years. But, for all the contractual ingenuity and foresight of these provisions at the time these agreements are entered into, the emergence of connected geographical markets and the increasing volatility of price and volume risk have meant that these provisions are now regularly applied and a number of these provisions found wanting when submitted to practical application. Among the factors that have contributed to these difficulties are recent changes in the commercial and political aims of a number of the important producer economies and the rapid change in the circumstances of a number of the economies of those states and regions that are consumers of LNG. This paper contemplates the ways in which today’s circumstances are putting increased stress on these traditional provisions and looks particularly at the challenges of developing effective strategies to mitigate risks and enhance opportunities while maintaining relationships during periods of disagreement. It also includes case studies that highlight some of the issues of triggering price re-openers and then managing their progress through the resulting re-negotiations or, increasingly, arbitrations and expert determinations. These case studies include reviews of published decisions on price re-openers and analyses of some of the more usual contractual provisions found in the price and price clauses revision of long-term LNG sale and purchase agreements.
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Phillips Sawyer, Laura. "California Fair Trade: Antitrust and the Politics of “Fairness” in U.S. Competition Policy." Business History Review 90, no. 1 (December 21, 2015): 31–56. http://dx.doi.org/10.1017/s0007680515001063.
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In the decades before World War II, U.S. antitrust law was anything but settled. Considerable pressure for antitrust revision came from the states. A perhaps unlikely leader, Edna Gleason, organized California's retail pharmacists and coordinated trade networks to monitor and enforce Resale Price Maintenance (RPM) contracts, a system of price-fixing, then known as “fair trade.” Progressive jurists, including Louis Brandeis and institutional economist E. R. A. Seligman, supported RPM as a protection to independent proprietors. The breakdown of legal and economic consensus regarding what constituted “unfair competition” allowed businesspeople to act as intermediaries between heterodox economic thought and contested antitrust law, ultimately tailoring federal policy to accommodate state regulations.
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Susilawati, Cicilia Erna. "Asymmetric Information: Tinjauan Berdasarkan Rekomendasi Analis Sekuritas dan Revisi Earning Forecast." Ekonomis: Journal of Economics and Business 4, no. 1 (March 19, 2020): 88. http://dx.doi.org/10.33087/ekonomis.v4i1.128.
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Trading in the stock market occur due to differences in opinion on the expected value of the securities. In the other side, asymmetric information between investors and companies caused the stock price does not reflect the real price. So, asymmetric information should be reduced. Information by securities analysts is an information that is expected to reduce that. This study investigates the performance of securities analysts through its role in reducing asymmetric information. This is motivated by some previous studies that stated that the Indonesian capital market is inefficient, because high levels of asymmetric information. Analysts is considered as inform market participant who can reduce the asymmetric information so as to make capital market to be efficient. The role of securities analysts is seen through the product. There are stock recommendation and earnings forecast revision. Testing the consistency of the analyst's stock recommendations and earnings forecast revision before testing their impact on asymmetric information. The results showed that output in the form of stock securities analysts and earnings forecast recommendation are consistent but has not been able to reduce the asymmetry of information that occurs between investors and companies.
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Kiloes, Adhitya Marendra, and NFN Puspitasari. "Sikap Konsumen Terhadap Harga Referensi Komoditas Hortikultura Strategis : Studi Kasus Kecamatan Cengkareng, Jakarta Barat (Consumer’s Attitude Towards the Reference Price of Strategic Horticulture Commodity : Case of Study in Cengkareng, West Jakarta)." Jurnal Hortikultura 28, no. 1 (May 17, 2019): 123. http://dx.doi.org/10.21082/jhort.v28n1.2018.p123-132.
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<p>Solusi jangka pendek untuk menstabilkan harga bawang merah dan cabai adalah dengan melakukan impor produk-produk hortikultura tersebut dari negara lain saat harga melonjak naik. Kuota impor baru akan dibuka apabila harga bawang merah dan cabai di pasar eceran melebihi harga referensi yang telah ditetapkan. Penelitian bertujuan menganalisis sikap dan faktor-faktor yang memengaruhi sikap konsumen terhadap harga referensi yang ditetapkan pemerintah pada komoditas bawang merah dan cabai sebagai masukan untuk penentuan harga referensi. Penelitian dilakukan pada Bulan Desember 2015 di Kecamatan Cengkareng, Jakarta Barat dengan metode survey menggunakan kuesioner. Data yang diambil dalam penelitian ini berupa karakteristik responden dan sikap konsumen apakah bersedia membayar lebih tinggi dari harga referensi yang ditetapkan atau tidak. Dari survey yang dilakukan ditemukan bahwa sebagian besar konsumen menunjukkan sikap bersedia membayar lebih tinggi dari harga referensi yang ditetapkan. Rata-rata harga tertinggi yang bersedia dibayarkan oleh konsumen adalah sebesar Rp38.272,00/kg untuk komoditas bawang merah, Rp 41.800,00/kg untuk komoditas cabai merah atau cabai merah keriting dan Rp42.221,00/kg untuk komoditas cabai rawit merah. Studi ini merekomendasikan kemungkinan penetapan ulang harga referensi bawang merah dan cabai dengan tingkat harga yang lebih tinggi dibanding yang telah ditetapkan. </p><p><strong>Keywords</strong></p><p>Bawang merah; Cabai; Sikap konsumen; Harga referensi </p><p><strong>Abstract</strong></p><p>A short solution to stabilize shallot and chili price is frequently carried out by importing those commodity from other countries when the price are high. Import quota is opened when shallot and chili price in retail market above the reference price. No revision has been done yet since shallot and chili’s reference price were announced in 2013. The objective of this research is to analyze consumer’s attitude and factors affecting consumer’s attitude regarding the 2013 reference price, whether they are willing to pay higher or not. This research was conducted in December 2015 in Cengkareng Subdistrict, West Jakarta. Survey method was used for collecting data through the use of structured questionnaire. Most important information gathered were the characteristics of consumer respondents and their attitude towards shallot and chili’s reference prices. Results suggest that most respondents are willing to pay higher than the reference prices. In average they are willing to pay as much as IDR 38,272,00/kg for shallot, IDR 41,800,00/kg for chilli pepper, and IDR 42,221,00/kg for cayenne chili pepper. This study recommends the possibility of redetermining the shallot and chili’s reference prices by the price level that is higher than previously set. </p>
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Nagy, Csongor. "Resale price fixing after the revision of the EU vertical regime—a comparative perspective." Acta Juridica Hungarica 54, no. 4 (December 2013): 349–66. http://dx.doi.org/10.1556/ajur.54.2013.4.4.
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Phillip, Dayo O. A., and George O. I. Abalu. "PRICE EXPECTATIONS FORMATION AND REVISION IN THE NERLOVIAN FRAMEWORK WITH APPLICATION TO NIGERIAN FARMERS." Journal of Agricultural Economics 38, no. 3 (September 1987): 491–95. http://dx.doi.org/10.1111/j.1477-9552.1987.tb01068.x.
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Ng, Angeline, and M. Ariff. "Does credit rating revision affect the price of a special class of common stock?" Borsa Istanbul Review 19 (August 2019): S44—S55. http://dx.doi.org/10.1016/j.bir.2019.02.004.
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Filippidis, Filippos T., Kiara K. C. Chang, Isabelle Blackmore, and Anthony A. Laverty. "Prices and Illicit Trade of Cigarettes in the European Union: A Cross-sectional Analysis." Nicotine & Tobacco Research 22, no. 12 (January 8, 2020): 2271–75. http://dx.doi.org/10.1093/ntr/ntaa004.
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Abstract Introduction Within the context of the World Health Organization Framework Convention on Tobacco Control Protocol to Eliminate Illicit Trade in Tobacco Products and the impending revision of the European Union (EU) directive on tobacco excise rules we assessed whether cigarettes price is linked to being offered illicit cigarettes. Methods We combined data being offered illicit cigarettes from the 2015 Special Eurobarometer Survey on Illicit Tobacco (N = 27,672) with area-level data on Gross Domestic Product, unemployment, perceived corruption, and sharing a border with a non-European Economic Area (non-EEA) state. We used the 2015 Weighted Average Price of cigarettes (WAP), which reflects the average price of a cigarette pack in each Member State. We assessed associations between prices and illicit trade using three-level ordered regression models. Results About 19.6% of respondents reported ever being offered illicit cigarettes, 6.4% repeatedly. In fully adjusted models WAP was not associated with being more likely to have been offered illicit market cigarettes more often (adjusted odds ratio = 1.02, 95% confidence interval: 0.91; 1.15). Sharing a border with a non-EEA Member State was associated with increased likelihood of reporting being offered illicit cigarettes more often (1.73, 1.26; 2.39). Conclusion This study found no significant association between cigarette prices and reporting being offered illicit cigarettes; sharing a border with a non-EEA Member State was linked to illicit trade. This study adds to evidence that increasing prices of cigarettes are not associated with illicit trade and that the focus should remain on securing supply chains, including through features such as independent traceability systems. Implications After adjusting for individual and regional factors, we did not identify an association between prices of cigarettes and likelihood of reporting being offered illicit cigarettes in the EU. Sharing a border with a non-EEA state, however, was associated with increased likelihood of reporting being offered illicit cigarettes more often. This study adds to evidence that increasing taxes and prices of cigarettes are not a driver of illicit trade and that policies should maintain their focus on securing the supply chain.
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Lee, Jun-Seo. "A Study on Property Tax Reform by Adjusting the Officially Announced Price of Representative Land." Korean Public Land Law Association 99 (August 30, 2022): 299–326. http://dx.doi.org/10.30933/kpllr.2022.99.299.
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Among the policies of ‘Real estate normalization’ of the ‘Yoon Suk-Yeol Government’s 120 national tasks’ announced on July 7, 2022, the adjustment of the announced real estate price has an important meaning. This is because this is a common factor related to the reconsideration of the reconstruction surplus profit recovery system and the real estate tax system, and is related to the downward revision of the reconstruction surplus profit recovery system and the reduction of the comprehensive real estate tax. The current government's policy is contradictory to the 'Plan for Realization of Official Real Estate Price' and 'Property Tax Relief Plan' announced by the Moon Jae-In government on November 11, 2020. The real estate price realization plan of the Moon Jae-In government reflects the 50-70% level to 90% of the market price by raising the announced real estate prices such as houses, buildings, and land by 3-4%p a year over 10 to 15 years. it will become a reality. In order to alleviate the burden of property tax while realizing the published price, the property tax rate of houses with a published price of 600 million won or less owned by a single homeowner should be reduced by 0.05%p for each tax base section. The policy for this is complementary. The current government's 'normalization' of the real estate tax system means that the announced real estate price will be returned to the level of 2020, that is, before the realization of the announced real estate price plan. This means that the upper limit will be lowered from 300% to 200% for the 2nd and 3rd homeowners in the adjustment area.
Since the real estate tax consists of taxation on capital gains at the stage of acquisition, holding, and transfer of real estate, the tax burden on the people increases as the published price becomes real. According to the published price reflected up to 90% of the real estate market price, the land, building, and housing prices are evaluated as higher when calculating the property tax or comprehensive real estate tax. However, before denigrating the realization of the official price as a policy intended only to increase revenue or criticizing the ripple effect and side effects, it is necessary to consider the essential meaning of the realization of the official price in the real estate policy of the government. The main purpose of realizing the announced price is to secure the equity of the realization rate by real estate type and to achieve balance by reducing the difference in the market price reflection rate of the announced price by real estate price range. The steep rise in real estate prices, which exceeds income growth, causes problems such as inducing the gap between the rich and the poor, lowering the possibility of homeownership for non-homeowners, focusing on real estate investment rather than labor income, and insufficient social investment due to a decrease in disposable income. The realization of the announced price is also being used as a method to solve the problem of housing supply shortage to some extent by increasing the number of listings in the housing market by increasing the burden on multi-homeowners through an increase in the real estate holding tax.
In addition to the adjustment of the official land price, the increase in the fair market value ratio is an important factor in reforming the real estate tax system. This is because, unlike housing, in the case of land, speculative factors such as price spikes are unclear, so it is a fair method to focus on the official land price and fair market value ratio rather than the tax rate. The property tax has characteristics as a local tax, such as the immobility of real estate and the regional universality of taxation, and the relationship between the benefits of public services provided by local governments and the tax burden is relatively clear.
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Antón Antón, Álvaro. "EU energy taxation framework revision in the context of the green deal." VISUAL REVIEW. International Visual Culture Review / Revista Internacional de Cultura Visual 9, Monográfico (November 11, 2022): 1–13. http://dx.doi.org/10.37467/revvisual.v9.3670.
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The EU aims to reduce emissions by at least 55% by 2030. To achieve this, the European Commission launched proposals to introduce price signals through the modification or extension of the Emission Trading Scheme and the Energy Tax Directive. These instruments could have a negative impact on households and companies' competitiveness. This research focuses on the one hand, on the role of energy taxation in the achievement of climate objectives and budget stability. And, on the other, in analysing the role of taxation to develop compensatory measures so that the transition is efficient, socially fair and inclusive.
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Siew-Ling Liew, Mohammad Affendy Arip, and Chin-Hong Puah. "Determinants of Export Competitiveness of Agricultural Products in Malaysia." International Journal of Business and Society 22, no. 2 (August 12, 2021): 618–36. http://dx.doi.org/10.33736/ijbs.3747.2021.
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This study intends to evaluate the export competitiveness of agricultural products using the data of 186 agricultural commodities in Malaysia for the period ranging from 1988 to 2014. Besides, this study engages in the total export of the world with Standard International Trade Classification Revision Three-SITC Revision 3 (5-digits code) to analyse the index of comparative advantage of agricultural commodities in Malaysia. In addition, the study employs Balassa (1965) index of Revealed Comparative Advantage (RCA) to measure competitiveness. The findings show that 56 commodities have comparative advantage. Apart from that, this study also empirically examines the determinants of competitiveness which are commodities price, GDP per capita, labour participation and capital formation. The results of cointegration tests estimation indicates that there is a long-run relationship between the variables under study. The outcomes denote that price of commodities, GDP per capita and crises in 2008 have negative association while labour participation and capital formation are positively relatedly to competitiveness. The results also specify that there is a short-run dynamic impact on competitiveness with the variables. This study suggests that the government should consider intensifying the current economic policy through focusing on downstream products by taking the benefit of its comparative advantage in upstream industries to increase competitiveness.
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Wheeler, Terry A., and Mary Beverley-Burton. "Nasicola hogansi n.sp. (Monogenea: Capsalidae) from bluefin tuna, Thunnus thynnus (Osteichthyes: Scombridae), in the northwest Atlantic." Canadian Journal of Zoology 65, no. 8 (August 1, 1987): 1947–50. http://dx.doi.org/10.1139/z87-296.
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Nasicola hogansi n.sp. is proposed for material from bluefin tuna (Thunnus thynnus) taken in the Gulf of St. Lawrence off Prince Edward Island, Canada, and is distinguished from Nasicola klawei (Stunkard, 1962), the type and only other known species in the genus, by the smaller total body length, a haptoral diameter of approximately 40% of the total length (as compared with 20–30%), a greater number of small dorsomarginal spines, fewer large dorsomarginal spines, and a greater number of testes. An emended generic diagnosis for Nasicola Yamaguti, 1968 is provided. Four genera are recognized within the Capsalinae: Capsala Bosc, 1811; Tristoma Cuvier, 1817; Capsaloides Price, 1938; and Nasicola Yamaguti, 1968. Reference is made to the taxonomic confusion regarding generic definitions within the subfamily; it is suggested that taxonomic revision of the Capsalinae would result in major systematic changes at the generic level.
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Chadwick, Anna. "REGULATING EXCESSIVE SPECULATION: COMMODITY DERIVATIVES AND THE GLOBAL FOOD CRISIS." International and Comparative Law Quarterly 66, no. 3 (April 26, 2017): 625–55. http://dx.doi.org/10.1017/s0020589317000136.
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AbstractEvidence suggests that commodity derivatives speculation contributed to extraordinary patterns of grain price volatility that led to a global food crisis in 2007–11. People in countries throughout the world are increasingly dependent on international commodity markets for access to food. Almost everywhere, now, the value of food is determined by a single condensed symbol of its worth—its price. Persuaded of the need to ensure that this measure of value is not put at risk of distortion in the pursuit of financial profit, governments in the US and in the EU are now implementing new regulations designed to curb ‘excessive’ levels of speculation in derivative markets. Carrying out an analysis of these regulatory measures, the article demonstrates that both sets of reforms suffer from a critical limitation: They are predicated on an inaccurate understanding of how activity in commodity derivative markets can impact on underlying food prices. If the new regulations for commodity derivative markets are not up to the task, as this article argues that they are not, a more fundamental revision of global economic structures may be required if the basic needs of human beings are not to be subsumed to the interests of financial capital in the years to come.
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Yang, Chau-Ping. "Primary influential factors in the management of public transportation projects in Taiwan." Canadian Journal of Civil Engineering 34, no. 1 (January 1, 2007): 1–11. http://dx.doi.org/10.1139/l06-116.
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The primary influential factors must be screened out to improve the efficiency of management of public projects. This study synthesizes 91 possible influential factors in the management of transportation projects in Taiwan. Following the procedures of the multicriteria evaluation method and the fuzzy analytic hierarchy process (FAHP), the primary influential factors are screened out and ranked in order of priority. After analysis, it was found that the top five primary influential factors for responsible entities are (i) introduction of the earned value analysis, (ii) efficiency of the geotechnical survey, (iii) environmental laws and regulations of the local government, (iv) price-index fluctuation, and (v) on-site safety management. The top five factors ranked by the supervisory entities are (i) manpower, (ii) revision of laws and regulations, (iii) price-index fluctuation, (iv) traffic conditions, and (v) mistakes or faults of design. In the contractor phase, the top five factors are (i) bidding price, (ii) scope of the contractor, (iii) price-index fluctuation, (iv) management education and training system, and (v) government procurement act.Key words: management, influential factors, transportation project, fuzzy analytic hierarchy process (FAHP), Taiwan.