Organization of Multinational Activities and Ownership Structure

We develop a model in which multinational investors decide about the modes of organization, the locations of production, and the markets to be served. Foreign investments are driven by market-seeking and cost-reducing motives. We further assume that investors face costs of control that vary among sectors and increase in distance. The results show that (i) production intensive sectors are more likely to operate a foreign business independent of the investment motive, (ii) that distance may have a non-monotonous effect on the likelihood of horizontal investments, and (iii) that globalization, if understood as reducing distance, leads to more integration

Religiosity and teen birth rate in the United States

<p>Abstract</p> <p>Background</p> <p>The children of teen mothers have been reported to have higher rates of several unfavorable mental health outcomes. Past research suggests several possible mechanisms for an association between religiosity and teen birth rate in communities.</p> <p>Methods</p> <p>The present study compiled publicly accessible data on birth rates, conservative religious beliefs, income, and abortion rates in the U.S., aggregated at the state level. Data on teen birth rates and abortion originated from the Center for Disease Control; on income, from the U.S. Bureau of the Census, and on religious beliefs, from the U.S. Religious Landscape Survey carried out by the Pew Forum on Religion and Public Life. We computed correlations and partial correlations.</p> <p>Results</p> <p>Increased religiosity in residents of states in the U.S. strongly predicted a higher teen birth rate, with r = 0.73 (p < 0.0005). Religiosity correlated negatively with median household income, with r = -0.66, and income correlated negatively with teen birth rate, with r = -0.63. But the correlation between religiosity and teen birth rate remained highly significant when income was controlled for via partial correlation: the partial correlation between religiosity and teen birth rate, controlling for income, was 0.53 (p < 0.0005). Abortion rate correlated negatively with religiosity, with r = -0.45, p = 0.002. However, the partial correlation between teen birth rate and religiosity remained high and significant when controlling for abortion rate (partial correlation = 0.68, p < 0.0005) and when controlling for both abortion rate and income (partial correlation = 0.54, p = 0.001).</p> <p>Conclusion</p> <p>With data aggregated at the state level, conservative religious beliefs strongly predict U.S. teen birth rates, in a relationship that does not appear to be the result of confounding by income or abortion rates. One possible explanation for this relationship is that teens in more religious communities may be less likely to use contraception.</p

Optical content-addressable parallel processor: architecture, algorithms, and design concepts,&quot;

We extend the concept of optical content-addressable parallel processing [Appl. Opt. 31, 3241 (1992)] to a novel architecture designed specifically for the parallel and high-speed implementation of database operations called optical content-addressable parallel processor for relational database processing (OCAPPRP). An OCAPPRP combines a parallel model of computation, associative processing, with parallel and high-speed technology optics. The architecture is developed to provide optimal support for high-speed parallel equivalence (pattern matching) and relative-magnitude searches (greater than and lesser than). Distinctive features of the proposed architecture include (1) a two-dimensional matchcompare unit for two-dimensional pattern matching, (2) constant-time retrieval of database entries, (3) an optical word and bit-parallel relative-magnitude single-step algorithm, and (4) the capability of constanttime sorting. Since relational database operations rely heavily on parallel equivalence or relativemagnitude searches, database processing is an excellent candidate for implementation on an OCAPPRP. The architecture delivers a speedup factor of n over conventional optical database architectures, where n is the number of rows in a database table. We present an overview of the architecture followed by its optical implementation. The representative relational database operations, intersection, and selection are outlined to illustrate the architecture&apos;s potential for efficiently supporting high-speed database processing

Firms as Portfolios: A Mean-Variance Analysis of Unquoted UK Companies.

This paper adopts a mean-variance portfolio framework to model the balance sheet behavior of unquoted companies with respect to choice items such as fixed investment, investment in stocks, trade credit, and borrowing. Econometric results for a sample of thirty-nine U.K. firms are consistent with many of the restrictions implied by portfolio theory, in particular that these balance sheet items are jointly determined. Copyright 1989 by Blackwell Publishing Ltd.