1982 Ohio Agribusiness Compensation Survey

Exact date of working paper unknown

Sinners and Saints: An Alternative Approach to Evaluating the Investment Performance of Sin Funds Versus Sinless Funds

We investigate the relative performance of sin versus sinless mutual funds by employing the propensity score matching (PSM) estimator and the bias-adjusted nearest-neighbor matching estimator (NNM) as alternatives to traditional matched-pair analysis. Sin funds generally outperform their sinless cohorts, and the return difference is related positively to the proportion of sin stocks in the portfolio. A notable exception occurs in the financial crisis period of 2007-2009, during which the opposite result holds

A hard gamma-ray flare from 3C 279 in 2013 December

The blazar 3C 279 exhibited twin γ-ray flares of similar intensity in 2013 December and 2014 April. In this work, we present a detailed multi-wavelength analysis of the 2013 December flaring event. Multi-frequency observations reveal the uncorrelated variability patterns with X-ray and optical–UV fluxes peaking after the γ-ray maximum. The broadband spectral energy distribution (SED) at the peak of the γ-ray activity shows a rising γ-ray spectrum but a declining optical–UV flux. This observation along with the detection of uncorrelated variability behavior rules out the one-zone leptonic emission scenario. We, therefore, adopt two independent methodologies to explain the SED: a time-dependent lepto-hadronic modeling and a two-zone leptonic radiative modeling approach. In the lepto-hadronic modeling, a distribution of electrons and protons subjected to a randomly orientated magnetic field produces synchrotron radiation. Electron synchrotron is used to explain the IR to UV emission while proton synchrotron emission is used to explain the high-energy γ-ray emission. A combination of both electron synchrotron self-Compton emission and proton synchrotron emission is used to explain the X-ray spectral break seen during the later stage of the flare. In the two-zone modeling, we assume a large emission region emitting primarily in IR to X-rays and γ-rays to come primarily from a fast-moving compact emission region. We conclude by noting that within a span of four months, 3C 279 has shown the dominance of a variety of radiative processes over each other and this reflects the complexity involved in understanding the physical properties of blazar jets in general

Regional Investment and Workers' Compensation in a State Econometric Model

255 p.Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 1980.Worker's Compensation insurance costs have risen dramatically in the State of Illinois over the past five years. A large scale econometric model of the State of Illinois is estimated in order to simulate the impact of Workers' Compensation insurance rate increases on the Illinois economy.The Illinois Econometric Model is a two hundred and fifty-six equation structure. The model emphasizes Illinois labor markets. It is among the first models structured around the modeling of income accounts. Distinctive features of the model include: disaggregation of the manufacturing sector into two-digit SIC industries, utilization of relative factor costs to explain employment and investment, estimation of explicit production functions, and a complete theoretical development of the investment function specification.Investment in manufacturing industries is one of the most important sets of structures in the state model. Therefore, the theoretical underpinnings for the investment structures are given special treatment. A regional investment model which is an extension of Jorgenson's neoclassical formulation is developed and estimated for two-digit SIC manufacturing industries. The resulting theory represents the first attempt to build a neoclassical model of regional investment without assuming factor costs to be uniform across all regions of the country.The Workers' Compensation program is treated as an ad valorem tax on payroll levied against business firms operating in Illinois, combined with a public insurance program. A theoretical analysis shows the effect of the program on employment and investment in the state. The econometric model described earlier in the thesis is solved to simulate the Illinois economy for the period from the fourth quarter of 1979 through the fourth quarter of 1981. Subsequently, the model is solved for the same time period to replicate the state economy under a regime in which Workers' Compensation insurance rates are reduced by fifty percent, up to a three percentage point maximum. A comparison of model solutions under the two alternative regimes leads to inferences concerning the effect on the Illinois economy of the Workers' Compensation program. Several alternative solutions were obtained, each representing different assumptions as to how workers perceive the certainty equivalent of Workers' Compensation benefits.U of I OnlyRestricted to the U of I community idenfinitely during batch ingest of legacy ETD

Oil Prices, Fossil-Fuel Stocks and Alternative Energy Stocks

As new alternative energy industries are created and old ones are revised, markets constantly try to interpret and adjust to those changes. The purpose of this study is to shed some light on the inner dynamics of the select outside price-shocks versus sector-specific energy companies. This study analyzes the inner dynamics (both short and long-term) of sub-sector energy company portfolios such as petroleum, coal, natural gas, solar, nuclear, wind, and biofuel with respect to each other as well as other asset markets commonly used in literature. In light of outside shocks, we find that some alternative energy companies behave like fossil-fuel companies, while others don’t. Interestingly petroleum companies give no significant short-term response to oil-price or exchange-rate shocks. Also, there is a significant relationship between gold price shocks and most energy sub-sectors in the long-run. The same relationship was not observed in the short-run.&nbsp;&nbsp;</p

An Experimental Study Of Commercial Bank Loan Officer Behavior

This paper presents the results of an experimental study in which commercial bank loan officers evaluated a hypothetical ongoing firm for a line of credit, and independently, a term loan. Statistical analysis revealed significant influences on the loan decision resulting from bank size, national charter, urban location, loan officer age, years of experience, and prior experience with capital lease transactions