Meson Form-factors and Wave-functions with Wilson fermions

Results for semi-leptonic form-factors for processes like $D \to K l \nu$ and the Bethe-Salpeter amplitudes (BSA) for pion and rho mesons are presented. The form-factor data is consistent with previous calculations. We find that the long distance fall-off of BSA for both $\pi$ and $\rho$ is very well fit by an exponential, but surprisingly the effective mass governing this fall-off is lighter than the pion's. Lastly, by studying the dependence of $\rho$ polarization on separation direction we show that there is a measureable $l=2$ state in addition to $l=0$ in the BSA for the rho. (Talk presented by R. Gupta at LATTICE92. Latex needs macro package espcrc2.sty)Comment: 4 pages including 4 PS figure

The Determinants and Economic Outcomes of Trust in Supplier-Buyer Relations

In this paper we examine the antecedents and outcomes of supplier trust in 453 supplier-automaker relationships in the U.S., Japan and Korea. Our findings indicate that high supplier trust emerges when (1) automakers have developed assistance-giving routines to help suppliers improve, and (2) automakers maintain a continuing (repeated) exchange relationship with the supplier. We also found that trust reduces transaction costs and increases information sharing in supplier-buyer relationships. Moreover, the findings suggest that the economic value created for tmnsactors may be substantial as evidenced by the fact that the automaker with the least trusting supplier relations had five times the procurement costs and spent tice as much of its face-to-face interaction time with suppliers on ex ante contracting and ex post haggling when compared to the most trusted automakers. Thus, our findings suggest that trust in supplier-buyer relations can create economic value and may be an important source of competitive advantage

The Determinants of Inter-Firm trust in Supplier-Automaker Relationships In the U.S., Japan, and Korea

In this paper we examine the determinants of supplier trust in the buyer in 453supplier-automaker relationships in the U. S., Japan, and Korea. We define trust and derive a model of its determinants drawing upon (1) an embeddedness (relationship-based) perspective, (2) a processbased perspective, and an (3) economic (hostage-based) perspective. Our findings indicate strong support for the process-based perspective in all countries; embeddedness (e.g., length of relationship) was only important as a determinant of trust in Japan, and the hostage-based variable (stock ownership) was not important in any country. More specifically, we found that high supplier trust emerges when (1) automakers have developed supplier-selection routines that favor incumbents and which maintain a continuing (repeated) exchange relationship with the supplier, and (2) automakers have developed assistance-giving routines to help suppliers solve problems and improve. Although there were some differences across institutional environments, notably higher trust in Japan, the findings are quite robust across the institutional environments. Indeed, in a sample of U.S. suppliers selling to both U.S. and Japanese automakers in the United States, we found that Japanese automakers were more effective than U.S. automakers at building trusting relations with U.S. suppliers. The ability of Japanese automakers to build high levels of trust with suppliers in the United States suggests that the institutional environment may be less important than firm-level practices in the production of inter-organizational trust

The Economic Value of Trust in Supplier-Buyer Relationships

In this paper we investigate the relationship between supplier trust in the buyer and transaction costs, information sharing, and re[ation-specific investments in a sample of 453 supplier automaker exchange relationships in the U. S., Japan, and Korea. Our findings indicate that trust reduces transaction costs and increases information sharing in supplier-buyer relationships. Moreover, the findings suggest that the economic value created for transactors, in terms of lower transaction costs, may be substantial. In particular, we found that the automaker with the least trusting supplier relations spent twice as much of its face-to-face interaction time with suppliers on ex ante contracting and ex post haggling when compared to the most trusted automakers. This translated into procurement (transaction) costs which were as much as five times higher for the least trusted automaker compared to the most trusted automaker. Finally, we argue that trust is unique as a governance mechanism because it not only minimizes transaction costs, but also has a mutually causal relationship with other behaviors (i.e. information sharing. buyer technical assistance) that create value in the exchange relationship. Other governance mechanisms (e. g.. contracts. financial hostages) are necessary costs incurred to prevent opportunistic behavior but do not create value beyond transaction cost minimization. Thus, our findings indicate that trust in supplier-buyer relations can create economic value and may be an important source of competitive advantage

The Determinants of Interfirm Trust: Evidence from Supplier Automaker Relationships in the U.S., Japan and Korea

This paper has been accepted for presentation at the Academy of Management Meetings, Cincinnati, 1996.The determinants of interfirm trust are examined in 453 supplier automaker relationships in the U.S., Japan, and Korea. The findings indicate high supplier trust emerges when (1) suppliers receive assistance from the automaker, (2) the automaker has a track record of maintaining a continuing (repeated) exchange relationship with the supplier. Although there were some differences across institutional environments, notably higher trust in Japan, the findings are robust across the three institutional environments. Indeed, in a sample of U.S. suppliers that worked with both U.S. and Japanese automakers in the United States, we found that Japanese automakers were more effective than U.S. automakers at building trusting relations with U.S. suppliers. Thus, firm level practices appear to be more important than the institutional environment in the development of interfirm trust. A central issue in the literature on strategic alliances and interfirm cooperation is how firms create trust and control opportunism, particularly when the transactors have made investments in transaction specific assets. Under these conditions, trust has been described as an important antecedent to interorganizational cooperation and economic efficiency (Sako, 1991; Smith, Carroll, and Ashford, 1995). In fact, recent research suggests that trust in supplier buyer relations may be an important source of competitive advantage because it: (1) lowers transaction costs and allows for greater flexibility to respond to changing market conditions (Dore, 1983; Sako, 1991; Barney & Hansen, 1995; Dyer, forthcoming), (2) facilitates investments in special purpose assets and technologies which enhance productivity (Asanuma, 1989; Lorenz, 1988; Dyer, 1994), and (3) leads to superior information sharing routines which improve coordination and joint efforts to minimize inefficiencies (Fruin, 1992; Clark & Fujimoto, 1991; Nishiguchi, 1994). Moreover, some scholars claim that national economic efficiency is highly correlated with the existence of a high trust institutional environment (North, 1990; Casson, 1991; Hill, 1995; Fukuyama, 1995). For example, Fukuyama (1995:7) argues that the economic success of a nation, "as well as its ability to compete, is conditioned by the level of trust inherent in the society." The findings from these, and other, studies have increased our attention on the important role of trust in economic exchanges. A natural response to these studies has been to exhort companies to build trust with their trading partners (Business Week, 1986, 1992) and to call for increased research on the role of trust in coordinating economic activity (Smith, Carroll, and Ashford, 1995). However, before an explicit strategy for developing trust can be developed, or considered feasible, the determinants of trust must be identified. Despite considerable academic and managerial interest in trust between trading partners, to date there has been little empirical research on the antecedents or determinants of interorganizational trust (i.e. between supplier buyer). Further, there has been little research on whether the determinants of trust differ in different institutional (i.e. country) environments. The purpose of this paper is to examine the determinants of supplier trust in a sample of supplier/automaker relationships in the United States, Japan, and Korea. Given the recent attention on the importance of trust in exchange relationships, an examination of the determinants of trust is, by itself, a valuable undertaking. However, due to the globalization of industries and a dramatic increase in international joint ventures, a study of the determinants of trust in different institutional environments is particularly valuable. Such a study is useful because it allows for an examination of those factors that are important determinants of trust both within, as well as across, countries.The International Motor Vehicle Program at MI

Does Okun’s law still hold today?

Arthur Okun claimed that when a country’s unemployment rate fell, the GDP expanded. This paper investigates the claim of Arthur Okun and the effect of unemployment rates and GDP of a country on each other. Data from three countries, namely, USA, Japan, and France, were tested to see if there was a causal link between the two variables. It was found that the proposed law of Arthur Okun did not hold. In the USA, there was a two way causality link but different directions of effect. France and Japan did not have a causal link between the two variables

AGGREGATION AND CAPITAL ALLOCATION FORMULAS FOR BIVARIATE DISTRIBUTIONS

Cossette, Marceau, and Perreault derived formulas for aggregation and capital allocation based on risks following two bivariate exponential distributions. Here, we derive formulas for aggregation and capital allocation for 18 mostly commonly known families of bivariate distributions. This collection of formulas could be a useful reference for financial risk management.</jats:p

Strategic Supplier Segmentation: The Next "Best Practice" In Supply Chain Management

No Abstract Provide

GARCH modelling of cryptocurrencies

With the exception of Bitcoin, there appears to be little or no literature on GARCH modelling of cryptocurrencies. This paper provides the first GARCH modelling of the seven most popular cryptocurrencies. Twelve GARCH models are fitted to each cryptocurrency, and their fits are assessed in terms of five criteria. Conclusions are drawn on the best fitting models, forecasts and acceptability of value at risk estimates

Convergent evolution of RFX transcription factors and ciliary genes predated the origin of metazoans

<p>Abstract</p> <p>Background</p> <p>Intraflagellar transport (IFT) genes, which are critical for the development and function of cilia and flagella in metazoans, are tightly regulated by the Regulatory Factor X (RFX) transcription factors (TFs). However, how and when their evolutionary relationship was established remains unknown.</p> <p>Results</p> <p>We have identified evidence suggesting that RFX TFs and IFT genes evolved independently and their evolution converged before the first appearance of metazoans. Both ciliary genes and RFX TFs exist in all metazoans as well as some unicellular eukaryotes. However, while RFX TFs and IFT genes are found simultaneously in all sequenced metazoan genomes, RFX TFs do not co-exist with IFT genes in most pre-metazoans and thus do not regulate them in these organisms. For example, neither the budding yeast nor the fission yeast possesses cilia although both have well-defined RFX TFs. Conversely, most unicellular eukaryotes, including the green alga <it>Chlamydomonas reinhardtii</it>, have typical cilia and well conserved IFT genes but lack RFX TFs. Outside of metazoans, RFX TFs and IFT genes co-exist only in choanoflagellates including <it>M. brevicollis</it>, and only one fungus <it>Allomyces macrogynus </it>of the 51 sequenced fungus genomes. <it>M. brevicollis </it>has two putative RFX genes and a full complement of ciliary genes.</p> <p>Conclusions</p> <p>The evolution of RFX TFs and IFT genes were independent in pre-metazoans. We propose that their convergence in evolution, or the acquired transcriptional regulation of IFT genes by RFX TFs, played a pivotal role in the establishment of metazoan.</p