ISSN:0143-6570    

DOI:10.1002/mde.4090050402

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractThis paper focuses on the antitrust decision‐making process as it pertains to anti‐merger policy as a special case of the more general two‐act decision problem. We employ the Analytic Hierarchy Process to analyze some prominent antitrust merger decision. The analysis suggests that the courts have failed to give potential competition its due when it acts to dampen any alleged market power accruing to the market leader, which in turn suggests that the defendants would be well advised to reorient the weight thattheygive to potential competition in designing their de

ISSN:0143-6570    

DOI:10.1002/mde.4090050403

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractIt is demonstrated that the hypotheses and tests found in the concentration change literature fail to discriminate adequately among the competing theories. This failure is characteristic of the larger structure‐performance debate, raising the question of whether there is something in the nature of the debate which permits it to persist but never really progress. It is argued that the debate is derived in large part from differences which on one level are purely semantic but which on a deeper level concern the normative bases up on which market outcomes are interpreted. If a meaningful resolution is to be hoped for, it must be sought at much deeper levels of inquir

ISSN:0143-6570    

DOI:10.1002/mde.4090050404

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractThis study investigated the effect of advertising on cigarette sales, particularly after 1967. Data were collected using sources of theStatistical abstract of the U.S., theHistorical Statistics of the U.S.andVital Statistics between 1955 and 1979. A multiple regression model was used to analyze the data. Cigarette consumption was used as a dependent variable. Disposable Income, Death Rate due to cancer of the respiratory system/total cancer death, advertising outlays for cigarettes: Newspapers and television advertisement/total advertising cost, cigarette‐production (including long and regular sizes), sales outlets, loyalty/total loyalty, average price for cigarettes and a dummy variable were used as independent variables. Analysis revealed that there is a significant negative relationship between cigarette‐consumption and total cancer death and average prices on the one hand, and a significant positive association between loyalty and cigarette consumption on the other. Although advertising expenditures are not statistically significant, increased spending on advertising has an increasing effect on cigarette‐consum

ISSN:0143-6570    

DOI:10.1002/mde.4090050405

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractThis paper surveys past work which attempts to investigate the effects of advertising on the macro‐economy, in particular on the allocation of income to consumption expenditure. It is argued that many prior studies aimed at testing this ‘Galbraithian’ hypothesis have suffered from an inability to detect the direction of any causal flows and may have only detected spurious relationships. Here, the relationship is analysed for West Germany and Great Britain, with the use of bivariate time series modelling techniques considered initially by Granger and Newbold. The advantages and disadvantages of using the concept of ‘Granger Causation’ are considered in relation to testing this area of interest. No support is found for the proposition that advertising has a positive causal effect on aggregate consumption in the two

ISSN:0143-6570    

DOI:10.1002/mde.4090050406

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractThis study empirically examines two issues related to forecasting annual accounting earnings. The first issue studied is the improvement in forecasts of annual earnings that can be obtained by including information about dividend payout along with the past earnings series in forecasting models. The second issue deals with the comparative ability of quarterly earnings time series models and annual earnings time series models to predict annual earnings. The results of this study indicate that considerable improvement in predictive ability can be obtained by expanding the information set to include the dividend payout ratio series. The empirical analysis also indicates that time series models developed using annual earnings generate more accurate predictions of annual earnings than do models developed using quarterly earnings.

ISSN:0143-6570    

DOI:10.1002/mde.4090050407

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractIt has been observed that utility executives generally argue for inflation‐adjusted rate bases while consumer groups advocate original‐cost valuation methods. Recent analytical and empirical studies indicate rate‐base valuation methods should not and do not account for differences in utilities‐accounting‐realized rates of return. However, there is evidence thatchangesin valuation methods may cause changes in realized returns due to over‐ or under‐compensation for the effects of inflation. This study examines the impact of changes in rate‐base valuation methods on (1) systematic risk, (2) expected shareholder returns and (3) realized shareholder returns. A unique time series data set and a new statistical procedure are utilized. Overall, the results are consistent with the earlier analytical and empirical studies. However, the results for utilities in one state provide support for the argument that investors fare better under fair

ISSN:0143-6570    

DOI:10.1002/mde.4090050408

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractIn this paper, hedonic regressions are used to analyze a seven‐year sample of monthly sales of bungalows in Chicago. Even when sales are considered within individual sections of Chicago, the FHA dummyindependent variable and the ‘points’‐independent variable usually have negative coefficients. In certain areas of Chicago there is an absence of conventional loans and conventionally qualified buyers. Consequently, sellers in these neighborhoods must sell using FHA‐insured mortgages and may be prevented from fully shifting points to the FHA buyer in the absence of competing financing alternatives. The use of FHA mortgages in these transactions means that the standard hedonic approach cannot correctly measure the extent of point‐shifting because the housing/demographic characteristics decrease sales‐prices at the same time the point‐shifting increases them. The estimated FHA coefficients reflect the net result o

ISSN:0143-6570    

DOI:10.1002/mde.4090050409

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractA capital budgeting problem of purchasing perfect information is defined. The relationship between this problem and the Expected Value measure is shown and an illustrative example provided.

ISSN:0143-6570    

DOI:10.1002/mde.4090050410

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

ISSN:0143-6570    

DOI:10.1002/mde.4090050412

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY