SUPPLY RESPONSE TO TECHNOLOGICAL CHANGE AND REGULATION: THE CASE OF MECHANICALLY DEBONED POULTRY

Research and Development/Tech Change/Emerging Technologies,

Viability Of Community Banks In The Dallas Federal Reserve District: Evidence Of Relationship And Transactional Orientation

This paper examines the viability of community banks. The results indicate that larger community banks are more profitable and less susceptible to most forms of risk than smaller community banks. Evidence that smaller community banks are more relationship oriented and larger community banks are more transactional oriented is mixed. Smaller community banks have a lower cost of funding assets, perhaps as a result of a stronger relationship with depositors, but there is no evidence that their relationship with borrowers allows them to earn more interest income. The primary indication of a stronger transactional orientation by larger community banks is their ability to generate more non-interest income

SUPERFUND FINANCING ALTERNATIVES

In 1980 Congress created the Superfund to pay for the selective cleanup of hazardous waste disposal sites. The original Superfund program was financed by earmarked "feedstock" taxes on petroleum and 42 chemicals, and by a "waste-end" tax on hazardous waste received a t disposal facilities. Budgetary authority for the program expired in September 1985. Over a year elapsed before Congress renewed budgetary authority for the program by expanding the feedstock taxes, suspending the waste-end tax, and imposing a new broad-base tax on corporate income. This paper examines the efficiency and equity effects of the current and several alternative Superfund tax policies. Special emphasis is given to the administrative and compliance costs associated with each tax, and the capacity of each to complement EPA regulation of hazardous waste externalities. Copyright 1988 by The Policy Studies Organization.

Stochastic And Nonstochastic Determinants Of Changes In Client-Industry Concentrations For Large Public-Accounting Firms

Market-concentration ratios of audits of large publicly held firms have been found to be high by Zeff and Fossum (1967), Rhode et al. (1974), and Campbell (1981). Both stochastic (random) forces and nonstochastic (deterministic) forces may cause increased concentration ratios. To determine the affects of stochastic forces on audit-concentration ratios, a computer simulation was developed using Gibrat\u27s (1931) theorem. The results of the simulation indicate that the volatility of the concentration ratios may be affected by nonstochastic forces as well as by stochastic forces. The nonstochastic forces are described and discussed vis-á-vis the public-accounting profession\u27s competitive environment