Operational and Performance Issues of a CBQ router

The use of scheduling mechanisms like Class Based Queueing (CBQ) is expected to play a key role in next generation multiservice IP networks. In this paper we attempt an experimental evaluation of ALTQ/CBQ demonstrating its sensitivity to a wide range of parameters and link layer driver design issues. We pay attention to several CBQ internal parameters that affect performance drastically and particularly to “borrowing”, a key feature for flexible and efficient link sharing. We are also investigating cases where the link sharing rules are violated, explaining and correcting these effects wheneverpossible. Finally we evaluateCBQ performance and make suggestions for effective deployment in real networks.

Benchmarking Money Manager Performance: Issues and Evidence

Academic and practitioner research yields a proliferation of methods using size and value/growth attributes or factors to evaluate portfolio performance. We assess the relative merits of several of the most widely-used procedures, including variants of matched-characteristic benchmark portfolios and time-series return regressions, by applying them to a sample of active money managers and passive indexes. Estimated abnormal returns display large variation across approaches. The benchmarks most widely used in academic research --- attribute-matched portfolios from independent sorts, the conventional three-factor time series model, and cross-sectional regressions of returns on stock characteristics --- have poor ability to track returns. Simple alterations are provided that improve the performance of the methods.

Measurement Issues in Comparing Fiscal Performance of States

Interstate comparison of fiscal performance requires use of appropriate concepts and proper measurement of state income, fiscal deficit and debt. GSDP at market prices and a comprehensive concept of debt consistent with the fiscal deficit of a state government are the right concepts to use for the purpose. The rating agencies and the Finance Commissions have not used the right concepts so far. Illustrative estimates for Gujarat show that it can lead to misleading target setting and wrong perceptions about the fiscal performance of the states. CSO, RBI and the rating agencies have to ensure that right concepts are used in interstate comparison.

Micro finance in Palestine: issues, performance, and trajectories

Despite the growing interest in the subject of micro finance very little, if any, academic research on the Palestinian case exists. This paper starts filling this gap by analysing the development of the micro credit industry in Palestine between 2000 and 2008. This paper shows that at macro level the industry has a strong potential for growth, but its full development is frustrated by inefficiencies in credit allocation and high level of risk, whose most evident sign being the problem of late or no re-payment of loans. By using data from one of the most important micro credit agencies, the Arab Centre for Agricultural Development (ACAD), we analyse the determinants of late payment. The most important results are that high interest rates increase the probability of late repayment, loan size, when above the “micro” threshold has no impact, while female customers and the one with banks guarantees are less likely to pay late. The policy implications are that while going towards a more “market-based” approach might provide some advantages in terms of risk reduction, it will not per se solve the problem while will certainly expose the most vulnerable sectors of the population to further credit rationingPalestine; micro finance; economic development

Can the Stock Market anticipate Future Operating Performance? Evidence from Equity Rights Issues

This paper examines whether the stock market valuation impact of rights issues is consistent with subsequent operating performance of issuing firms. Analysing a sample of rights issues in the Netherlands, we find that a significant stock price decline takes place with the announcement of rights issues. We then analyse post-rights issue operating performance and find that, consistent with the decline in stock price during the announcement period, issuing firms also exhibit a significant decline in their operating performance. Our analysis thus demonstrates that the stock market can successfully anticipate future changes in operating performance of firms.equity offerings;rights issues;valuation effect;firm performance

Executive Pay and Firm Performance: Methodological Considerations and Future Directions

This paper is an investigation of the pay-for-performance link in executive compensation. In particular we document main issues in the pay-performance debate and explain practical issues in setting pay as well as data issues including how pay is disclosed and how that has changed over time. We also provide a summary of the state of CEO pay levels and pay mix in 2009 using a sample of over 2,000 companies and describe main data sources for researchers. We also investigate what we believe to be at the root of fundamental confusion in the literature across disciplines – methodological issues. In exploring methodological issues, we focus on empirical specifications, causality, fixed-effects, first- differencing and instrumental variables issues. We then discuss two important but not yet well explored areas; international issues and compensation in nonprofits. We conclude by examining a series of research areas where further work can be done, within and across disciplines

Methodological Issues in Measuring Innovation Performance of Spatial Units

Measuring the innovation performance of regions or nations has been repeatedly done in the literature. What is missing in the literature is a discussion of what innovation performance of a region means. How do regions or nations contribute really to the innovation output of firms? And how can this contribution be investigated in an empirically sound way? We argue that while the literature offers many suggestions, their theoretical foundation is often weak and the under- lying assumptions are rarely discussed. In this paper, we systematize various mechanisms by which spatial units influence firms' innovation activities. On the basis of this, common innova- tion performance measures and analyses are discussed and evaluated. It is concluded that there is no general best way of measuring the innovation performance of spatial units. In fact, the most interesting insights can be obtained using a multitude of different approaches at the same time.innovation performance, regional innovativeness, innovation generation, regional innovation system, national innovation system

Sources of Alpha and Beta in Property Funds

This paper examines issues related to potential analytical performance systems for global property funds. These will include traditional attribution methods but will also cover the performance concepts of alpha and beta widely used in other asset classes. We look at issues including...what creates beta, and what drives alpha in real estate investment? How can it be measured and isolated? How do these concepts relate to traditional attribution systems? Can performance records and performance fees adequately distinguish between these drivers? In this paper we illustrate these issues by reference to a case study addressing the complete performance record of a single unlisted fund.unlisted property funds, performance attribution

Human performance issues arising from manned space station missions

Ten former NASA astronauts were interviewed using a set of 51 questions developed to encourage the contacts to discuss any thoughts, opinions, conclusions, or suggestions which might have evolved since they left the astronaut program. Strict confidentiality was maintained. At least one astronaut from each of the NASA manned space flight programs, excluding the Space Transportation System (Shuttle), was interviewed. The report records the answers to the questions asked, spontaneous comments, and the investigator's own personal evaluations of the material obtained. No statistical analysis of the material was attempted. The professional opinions of these ten experienced astronauts will be of value to persons concerned with the design and operation of manned spacecraft and manned space stations