1,720,999 research outputs found
Derivatives usage in risk management by U.S. and German non-financial firms : a comparative survey
Get PDFThis paper is a comparative study of the responses to the 1995 Wharton School survey of derivative usage among US non-financial firms and a 1997 companion survey on German non-financial firms. It is not a mere comparison of the results of both studies but a comparative study, drawing a comparable subsample of firms from the US study to match the sample of German firms on both size and industry composition. We find that German firms are more likely to use derivatives than US firms, with 78% of German firms using derivatives compared to 57% of US firms. Aside from this higher overall usage, the general pattern of usage across industry and size groupings is comparable across the two countries. In both countries, foreign currency derivative usage is most common, followed closely by interest rate derivatives, with commodity derivatives a distant third. Usage rates across all three classes of derivatives are higher for German firms than US firms. In contrast to the similarities, firms in the two countries differ notably on issues such as the primary goal of hedging, their choice of instruments, and the influence of their market view when taking derivative positions. These differences appear to be driven by the greater importance of financial accounting statements in Germany than the US and stricter German corporate policies of control over derivative activities within the firm. German firms also indicate significantly less concern about derivative related issues than US firms, which appears to arise from a more basic and simple strategy for using derivatives. Finally, among the derivative non-users, German firms tend to cite reasons suggesting derivatives were not needed whereas US firms tend to cite reasons suggesting a possible role for derivatives, but a hesitation to use them for some reason
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
The Dollar-Yen Exchange Rate: Appreciation Impact on Japan's Economic Cycles and Long-run Equilibrium between Its Deviation from Purchasing Power Parity and the Economic Performance
Get PDFThrough Vector Autoregression analyses, this paper examines the impact of USDJPY real exchange rate appreciation on the Japanese economic cycles since the floating regime started in 1973. Key testing variables are cyclical components of macroeconomic variables of output, trade, and asset prices. Long-run equilibriums between the deviation of USDJPY from Purchasing Power Parity (PPP)—i.e., the real exchange rate assuming that PPP holds—and the macroeconomic variables, if they exist, have economic implications. Thus, the paper also investigates their long-run relationships through cointegration tests. The test period is from 1991Q2 to 2007Q2 between Japan’s asset bubble collapse and the Global Financial Crisis, minimizing potential distortion by structural breaks.
This study finds that the USDJPY exchange rate does not function perfectly as a shock absorber. An appreciation shock has negatively and persistently impacted real GDP and consumption. At a minimum, the one-time shock of appreciation by 4 percent reduces real GDP by 0.2 percentage points. Given the yen’s historical swing, the adverse impact of the yen's appreciation could be significant relative to Japan’s sluggish growth (average annual growth after 1991Q2 is 0.7 percent). Unit labor costs are sticky in the short term and negatively cointegrated with the deviations from PPP in the long term. Given Japan’s low productivity over the decades, the result implies the correlation between the yen’s overvaluation and a wage cut. Exports and imports are irresponsive to an appreciation shock. Share prices demonstrate a persistent and positive response, implying the price rigidity of listed companies. Housing prices also show price stickiness. In the long term, the overvaluation puzzlingly correlates with a rise in housing prices despite the connection between overvaluation and a wage decline
The Dollar-Yen Exchange Rate: Appreciation Impact on Japan's Economic Cycles and Long-run Equilibrium between Its Deviation from Purchasing Power Parity and the Economic Performance
Get PDFThrough Vector Autoregression analyses, this paper examines the impact of USDJPY real exchange rate appreciation on the Japanese economic cycles since the floating regime started in 1973. Key testing variables are cyclical components of macroeconomic variables of output, trade, and asset prices. Long-run equilibriums between the deviation of USDJPY from Purchasing Power Parity (PPP)—i.e., the real exchange rate assuming that PPP holds—and the macroeconomic variables, if they exist, have economic implications. Thus, the paper also investigates their long-run relationships through cointegration tests. The test period is from 1991Q2 to 2007Q2 between Japan’s asset bubble collapse and the Global Financial Crisis, minimizing potential distortion by structural breaks.
This study finds that the USDJPY exchange rate does not function perfectly as a shock absorber. An appreciation shock has negatively and persistently impacted real GDP and consumption. At a minimum, the one-time shock of appreciation by 4 percent reduces real GDP by 0.2 percentage points. Given the yen’s historical swing, the adverse impact of the yen's appreciation could be significant relative to Japan’s sluggish growth (average annual growth after 1991Q2 is 0.7 percent). Unit labor costs are sticky in the short term and negatively cointegrated with the deviations from PPP in the long term. Given Japan’s low productivity over the decades, the result implies the correlation between the yen’s overvaluation and a wage cut. Exports and imports are irresponsive to an appreciation shock. Share prices demonstrate a persistent and positive response, implying the price rigidity of listed companies. Housing prices also show price stickiness. In the long term, the overvaluation puzzlingly correlates with a rise in housing prices despite the connection between overvaluation and a wage decline
Dispelling the Myths Behind First-author Citation Counts
Get PDFWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
koamabayili/VECTRON-author-checklist: VECTRON author checklist
No full textWe have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used
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