摘要:

ABSTRACTApplication of the geometric mean to holding‐period returns is discussed from a statistical theory standpoint. The population geometric mean is considered a parameter of the probability distribution of returns its relationship to moments of the distribution is discussed. The sample geometric mean and its relation to sample moments is assessed through its sampling distribution it is viewed as an estimator of the population geometric mean. For application to long‐term investment where a geometric mean is maximized, the distributional properties of the geometric mean should be used. The terms statistic, approximation, and parameter are differentia

ISSN:0011-7315    

DOI:10.1111/j.1540-5915.1985.tb01471.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

ABSTRACTThis paper studies the use of multiple discriminant analysis on industry‐classified, ranktransformed data to predict corporate bond ratings used in bond‐rating decision models. In addition to statistical advantages, agency descriptions of the rating process suggest such procedures are appropriate. The results of this study support that conclus

ISSN:0011-7315    

DOI:10.1111/j.1540-5915.1985.tb01472.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

ABSTRACTBased on empirical findings in the literature, sales response to advertising pulsing policy (APP) is modeled mathematically. The implications for APP are discussed. This policy is compared with an alternative policy of uniform expenditures (UAP), a commonly used strategy. The results of the research indicate that substantial savings in advertising budget or an increase in sales revenues may be achieved for a firm using APP.

ISSN:0011-7315    

DOI:10.1111/j.1540-5915.1985.tb01473.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

ABSTRACTEconomic theory indicates that higher returns are required from investments that have higher risk. Two major reasons for offering trade discounts are to stimulate sales and to speed up cash receipts. Both sales increases and the earlier receipt of cash impact the risk/return characteristics of a firm. This study uses a Markov chain model to demonstrate how alternative trade credit policies impact the risk and required returns of a firm. The amount of risk and return per credit sale is calculated, and the coefficient of variation is used as a risk/return measure per credit sale. The study concludes that trade discounts can have a favorable impact on the risk/return characteristics of a firm, even in the absence of increased sales volume. Other discount decision factors which are either directly or indirectly determined in this paper include: (1) the average number of periods for which an account is outstanding, (2) the probability of collection and bad‐debt losses over the average account period, (3) the average speed of payment, and (4) the average amount of cash tied up in accounts receivabl

ISSN:0011-7315    

DOI:10.1111/j.1540-5915.1985.tb01474.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

ABSTRACTA simple incremental cost approach to lot sizing was tested in a multilevel inventory environment. The incremental approach has not previously been tested in a large‐scale study involving multiple product‐structure levels. Using the Wagner‐Whitin (WW) algorithm as a benchmark, the simple incremental rule (IPPA) was compared to three heuristic procedures (LFL, EOQ, and POQ) frequently used in material requirements planning (MRP) lot‐sizing research. The incremental rule consistently generated lower total order/setup and carrying costs than the three heuristics across the 3,200 multilevel test situations examined. In many of the test situations, the incremental rule also outperformed the WW be

ISSN:0011-7315    

DOI:10.1111/j.1540-5915.1985.tb01475.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

ABSTRACTA model is presented that yields optimal production rates for a firm producing a contracted order. The model is unique in that it considers the influence of production rate and learning on total program cost. An application to the specific characteristics of two military production programs is presented. As demonstrated by the application, models of this type may be used as decision‐making tools when negotiating the cost impact of contract modification

ISSN:0011-7315    

DOI:10.1111/j.1540-5915.1985.tb01476.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

ABSTRACTThe rapid increase in the use of data‐base management systems (DBMSs) has created a need for structured methods of evaluation and selection. This paper offers one such method. It develops a decision schema for data‐base software selection that is data‐model independent and contains structural associations. A decision analysis method, the analytic hierarchy process (AHP), is used to quantify the evaluation. The method developed in this paper is applied to the evaluation of two microcomputer DBMS products: dBASE II® and Con

ISSN:0011-7315    

DOI:10.1111/j.1540-5915.1985.tb01477.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

ABSTRACTMost linear goal programming (LPG) algorithms are based on a simplex‐type solution method that begins with an initial simplex tableau with solution‐set variables (basic variables) consisting of all‐negative deviational variables or all‐positive deviational variables. This note (1) demonstrates how computational solution effort can be reduced by selecting the appropriate all‐negative or all‐positive deviational variable algorithm and (2) describes a procedure that can be used to aid decision makers in selecting the appropriate algorithm for all types of applied goal programming (GP) models. Results of this study reveal the procedure as accurate and providing computational time savings when applied to a large sample of

ISSN:0011-7315    

DOI:10.1111/j.1540-5915.1985.tb01478.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY