21,169 research outputs found
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Project Retrosight. Understanding the returns from cardiovascular and stroke research: Methodology Report
Copyright @ 2011 RAND Europe. All rights reserved. The full text article is available via the link below.This project explores the impacts arising from cardiovascular and stroke research funded 15-20 years ago and attempts to draw out aspects of the research, researcher or environment that are associated with high or low impact. The project is a case study-based review of 29 cardiovascular and stroke research grants, funded in Australia, Canada and UK between 1989 and 1993. The case studies focused on the individual grants but considered the development of the investigators and ideas involved in the research projects from initiation to the present day. Grants were selected through a stratified random selection approach that aimed to include both high- and low-impact grants. The key messages are as follows: 1) The cases reveal that a large and diverse range of impacts arose from the 29 grants studied. 2) There are variations between the impacts derived from basic biomedical and clinical research. 3) There is no correlation between knowledge production and wider impacts 4) The majority of economic impacts identified come from a minority of projects. 5) We identified factors that appear to be associated with high and low impact. This report presents the key observations of the study and an overview of the methods involved. It has been written for funders of biomedical and health research and health services, health researchers, and policy makers in those fields. It will also be of interest to those involved in research and impact evaluation.This study was initiated with internal funding from RAND Europe and HERG, with continuing funding from the UK National Institute for Health Research, the Canadian Institutes of Health Research, the Heart and Stroke Foundation of Canada and the National Heart Foundation of Australia. The UK Stroke Association and the British Heart Foundation provided support in kind through access to their archives
EU Merger Remedies: A Preliminary Empirical Assessment
Mergers that substantially lessen competition are challenged by antitrust authorities. Instead of blocking anticompetitive transitions straight away, authorities might choose to negotiate with the merging parties and allow the transactions to proceed with modifications that restore or preserve the competition in the involved markets. We study a sample of 167 mergers that were under the European Commissionâs scrutiny from 1990 to 2002. We use an event study methodology to identify the potential anticompetitive effects of mergers as well as the remedial provisions on these transactions. Stock market reactions around the day of the mergerâs announcement provide information on the first question, whereas the stock market reactions around the commissionâs final decision day convey information about the outcome of the bargaining process between the authority and the merging parties. We first classify mergers according to their effects on competition and then we develop hypotheses on the effects that remedies are supposed to achieve depending on the mergerâs competitive outcome. We isolate several stylized facts. First, we find that remedies were not always appropriately imposed. Second, the market seems to be able to predict remediesâ effectiveness when applied in phase I. Third, the market also seems able to produce a good prior to phase IIâs clearances and prohibitions, but not to remedies. This can be due either to a measurement problem or related to the increased merging firmsâ bargaining power during the second phase of the merger review
Buy the Book But Not the Stock: The Relationship Between Human Resource Reputation and Corporate Performance
Building upon the tenets of Signaling Theory, Spence (1974), this paper introduces the concept of human resource management reputation signals and examines the effects of these signals on the financial perfomance of over 500 organizations. Numerous human resource, and overall corporate, reputation signals which have appeared in the popular business press are examined to ascertain their effects on two performance measures, the abnormal shareholder returns which occur either side of the announcement of these signals and the annual returns to shareholders in the year in which they are made public.
In the end, it appears that is more imponant to utilize ones human resources effectively than it is to be included on the best or most admired lists of the various business observers who create and disseminate these reputation signals. Indeed, the vast majority of the corporate and human resource reputation signals studied had no effect on either shon or long term performance. However, a human resource management effectiveness indicator (net income per employee) was observed to be positively related to the annual shareholder return performance measure suggesting that it is better to be good than to just look good
(WP 2011-01) It Takes Two: The Incidence and Effectiveness of co-CEOs
This study examines the phenomenon of co-CEOs within publicly traded firms. Although shared executive leadership is not widespread, it occurs within some very prominent firms. We find that co-CEOs generally complement each other in terms of educational background or executive responsibilities. Our results show that firms most likely to appoint co-CEOs have lower leverage, a more limited firm focus, less independent board structure, fewer advising directors, lower institutional ownership and greater levels of merger activity. The governance structure of co-CEO firms suggest that co-CEOships can serve as an alternative governance mechanism, with co-CEO mutual monitoring substituting for board or external monitoring and co-CEO complementary skills substituting for board advising. An event study indicates that the market reacts positively to appointments of co-CEOs while a propensity score analysis shows that the presence of co-CEOs increases firm valuation
Econometrics meets sentiment : an overview of methodology and applications
The advent of massive amounts of textual, audio, and visual data has spurred the development of econometric methodology to transform qualitative sentiment data into quantitative sentiment variables, and to use those variables in an econometric analysis of the relationships between sentiment and other variables. We survey this emerging research field and refer to it as sentometrics, which is a portmanteau of sentiment and econometrics. We provide a synthesis of the relevant methodological approaches, illustrate with empirical results, and discuss useful software
Love is . . . an abstract word: the influence of phonological and semantic factors on verbal short-term memory in Williams syndrome
It has been claimed that verbal short-term memory in Williams syndrome is characterised by an over-use of phonological coding alongside a reduced contribution of lexical semantics. We critically examine this hypothesis and present results from a memory span task comparing performance on concrete and abstract words, together with a replication of a span task using phonologically similar and phonologically dissimilar words. Fourteen participants with Williams syndrome were individually matched to two groups of typically developing children. The first control group was matched on digit span and the second on vocabulary level. Significant effects were found for both the semantic and the phonological variables in the WS group as well as in the control groups, with no interaction between experimental variable and group in either experiment. The results demonstrate that, despite claims to the contrary, children and adults with WS are able to access and make use of lexical semantics in a verbal short-term memory task in a manner comparable to typically developing individuals
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Evaluating the resilience and security of boundaryless, evolving socio-technical Systems of Systems
Couple and family therapies for post-traumatic stress disorder (PTSD)
This is a protocol for a Cochrane Review (Intervention). The objectives are as follows: The objectives of this review will be to: assess the efficacy of couple and family therapies for adult PTSD, relative to 'no treatment' conditions, 'standard care', and structured or nonâspecific individual psychological therapies; examine the clinical characteristics of studies that influence the relative efficacy of these therapies; and critically evaluate methodological features of studies that bias research findings
EU Merger Remedies: A Preliminary Empirical Assessment
Mergers that substantially lessen competition are challenged by antitrust authorities. Instead of blocking anticompetitive transitions straight away, authorities might choose to negotiate with the merging parties and allow the transactions to proceed with modifications that restore or preserve the competition in the involved markets. We study a sample of 167 mergers that were under the European Commissionâs scrutiny from 1990 to 2002. We use an event study methodology to identify the potential anticompetitive effects of mergers as well as the remedial provisions on these transactions. Stock market reactions around the day of the mergerâs announcement provide information on the first question, whereas the stock market reactions around the commissionâs final decision day convey information about the outcome of the bargaining process between the authority and the merging parties. We first classify mergers according to their effects on competition and then we develop hypotheses on the effects that remedies are supposed to achieve depending on the mergerâs competitive outcome. We isolate several stylized facts. First, we find that remedies were not always appropriately imposed. Second, the market seems to be able to predict remediesâ effectiveness when applied in phase I. Third, the market also seems able to produce a good prior to phase IIâs clearances and prohibitions, but not to remedies. This can be due either to a measurement problem or related to the increased merging firmsâ bargaining power during the second phase of the merger review. ZUSAMMENFASSUNG - (Auflagen im Fusionskontrollverfahren der EU: Eine erste empirische Bewertung) Fusionen, die den Wettbewerb auf einem Markt vermindern oder verhindern, werden von Antitrustbehörden angefochten. Anstatt wettbewerbswidrige ZusammenschlĂŒsse direkt zu blockieren, können die Behörden beschlieĂen, mit den Parteien zu verhandeln und die Fusion mit Auflagen zu genehmigen, durch die der Wettbewerb in den entsprechenden MĂ€rkten wieder hergestellt oder aufrechterhalten wird. Wir analysieren eine Stichprobe von 167 Fusionen, die von der EuropĂ€ischen Kommission zwischen 1990 und 2002 ĂŒberprĂŒft worden sind. Wir verwenden eine "event study" - Methodologie, um sowohl die möglichen wettbewerbswidrigen Wirkungen von Fusionen als auch die Wirkung der von der Behörde beschlossenen Auflagen zu untersuchen. Die Reaktion der Aktienpreise der beteiligten Unternehmen - sowohl der fusionierenden als auch der Wettbewerber - um den Tag der FusionsankĂŒndigung liefert Informationen fĂŒr die erste Frage, wĂ€hrend die Reaktionen von Aktienpreisen um den Tag der EU-Kommissionsentscheidung Informationen ĂŒber das Ergebnis der geheimen Verhandlungen zwischen der Behörde und den involvierten Parteien geben. Zuerst klassifizieren wir Fusionen entsprechend ihrer Effekte auf den Wettbewerb und dann entwickeln wir Hypothesen auf die Wirkung, welche die Auflagen in AbhĂ€ngigkeit von den Wettbewerbseffekten der Fusion erzielen soll. Unsere Analyse ergibt einige stilisierte Fakten. Zuerst finden wir, dass die Auflagen von der EU-Kommission nicht immer adĂ€quat angewandt wurden. Auflagen scheinen jedoch eine Wirkung auf die fusionierenden Unternehmen zu haben. Sie sind besonders effektiv, wenn sie bereits in Phase I des Fusionskontrollverfahrens eingesetzt werden. Jedoch scheint der Markt unfĂ€hig zu sein, eine gute Vorhersage fĂŒr die Wirkung von Auflagen in Phase II zu produzieren. Dieses Ergebnis kann entweder auf einem MeĂproblem beruhen oder es wird durch eine erhöhte VerhandlungsstĂ€rke der fusionierenden Unternehmen wĂ€hrend der zweiten Phase der Fusionskontrolle verursacht.Merger Control, Remedies, European Commission, Event Studies.
EU Merger Remedies: A Preliminary Empirical Assessment
Mergers that substantially lessen competition are challenged by antitrust authorities. Instead of blocking anticompetitive transitions straight away, authorities might choose to negotiate with the merging parties and allow the transactions to proceed with modifications that restore or preserve the competition in the involved markets. We study a sample of 167 mergers that were under the European Commissionâs scrutiny from 1990 to 2002. We use an event study methodology to identify the potential anticompetitive effects of mergers as well as the remedial provisions on these transactions. Stock market reactions around the day of the mergerâs announcement provide information on the first question, whereas the stock market reactions around the commissionâs final decision day convey information about the outcome of the bargaining process between the authority and the merging parties. We first classify mergers according to their effects on competition and then we develop hypotheses on the effects that remedies are supposed to achieve depending on the mergerâs competitive outcome. We isolate several stylized facts. First, we find that remedies were not always appropriately imposed. Second, the market seems to be able to predict remediesâ effectiveness when applied in phase I. Third, the market also seems able to produce a good prior to phase IIâs clearances and prohibitions, but not to remedies. This can be due either to a measurement problem or related to the increased merging firmsâ bargaining power during the second phase of the merger review.Merger Control; Remedies; European Commission; Event Studies
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