CEO Pay-for-Performance Heterogeneity Using Quantile Regression (CRI 2009-002)

We provide some examples of how quantile regression can be used to investigate heterogeneity in pay–firm size and pay-performance relationships for U.S. CEOs. For example, do conditionally (predicted) high-wage managers have a stronger relationship between pay and performance than conditionally low-wage managers? Our results using data over a decade show, for some standard specifications, there is considerable heterogeneity in the returns to firm performance across the conditional distribution of wages. Quantile regression adds substantially to our understanding of the pay-performance relationship. This heterogeneity is masked when using more standard empirical techniques

Labor Market Effects of Immigration – Evidence from Neighborhood Data

This paper combines individual-level data from the German Socio-Economic Panel (SOEP) with economic and demographic postcode-level data from administrative records to analyze the effects of immigration on wages and unemployment probabilities of high- and low-skilled natives. Employing an instrumental variable strategy and utilizing the variation in the population share of foreigners across regions and time, we find no support for the hypothesis of adverse labor market effects of immigration.International migration; effects of immigration

A qualitative inquiry into a child's perspective on parent(s) attending university.

Adult learners return to and participate in post-secondary education, many of whom are parents. Student-parents question the impact of their participation in higher education on their children. To address this issue, an interpretative inquiry explored the shared perceptions of 19 children between the ages of 10 and 13. A free-association, clustering exercise as well as one-on-one interviews allowed the researcher to hear the voice of the children. The study suggested that although the children largely supported their parents' endeavors, did not necessarily "like" their parents attending college. Periodical absences, inattentiveness of parents, and stress in the home contributed to this dissatisfaction. The study suggested several factors that impacted the children. It appeared as if the primary factor was the connection the child felt with the university. The connection to the university was closely associated with the distance the family resided from the university. Children whose parents commuted had little knowledge of the university culture and the individuals involved in that aspect of their parents lives. However, children who were familiar with the university felt as if they were a partner in their parent's education. The study suggested that children also tended to blame the university for stress and other negative factors that occur in the home. When the university is in session, home life is somewhat chaotic, resulting in a stressful environment. When school is not in session, however, home life is more relaxed, with parents using this opportunity to be more in tune with their child's needs. Each of the children interviewed were involved in extra-curricular activities. The study seemed to suggest that extra-curricular activities were used to not only provide the children with adult-supervised activities, but also to provide an opportunity for children to be occupied while parents used their time to study or take care of other tasks. Children further appeared to feel as if there would be an immediate change in their life after their parents' graduation due to implied or promises of more money, new home, and vacations to their children. Various strategies were discussed to better prepare both child and parent for college

Low Level Alcohol and its Residual Effect on a Pilot\u27s Threshold for Detecting Angular Motion

The purpose of this study was to examine a pilot\u27s sensitivity to a change in angular motion after alcohol ingestion and determine the duration of effect after the time the blood alcohol content (BAC) reached zero. An earlier study determined that a pilot\u27s threshold for detecting angular motion was affected by 30% with low doses of alcohol ingestion. An important question remaining is whether the pilot\u27s sensitivity to angular motion will continue to be significantly affected after the time BAC reaches zero. Twelve instrument-rated pilots flew a partial panel rotating simulator under an in-flight scenario, and thresholds were measured before and after alcohol administration. As expected the pilot\u27s sensitivity to angular motion (at BAC \u3c 0.04%) registered a higher (\u3e 30%) threshold and remained elevated when BAC returned to zero. However, within one hour after BAC reached zero, the mean thresholds had returned to their initial prealcohol level

Financial Management Practices of Small Firms in Nigeria: Emerging Tasks for the Accountant

The exploratory research design was adopted to determine whether the financial management practices of small firms in Nigeria impacted on their profitability, growth and survival.  Five independent variables (accounting systems, financial management information, working capital management, budgeting practices and managerial planning) were used in the evaluation which was restricted to six small firms.  Results indicate that two financial information variables (accounting system and financial management information) alone dominate the risk perception of fund providers.  As a result, small firms find it difficult to source adequate funds for business operations.  The study also reveals that the five independent variables have significant impact on the survival, growth and profitability of small firms.  SME firms are therefore advised to employ the services of qualified accountants in order to upgrade their financial management practices to enhance their overall performance. Key words: Financial management, Small firms, Accountant, Performance and Nigeria economic development

Is hormesis an underestimated factor in the development of herbicide resistance?

The growing impact of herbicide resistant weeds increasingly affects weed management and the delay of resistance evolution has become a major task of chemical weed control. Hormesis and, thus, the phenomenon that low doses of herbicides can boost weed growth could be of importance in this regard since the recommended field rate may represent a low dose for weeds that have evolved resistance to the applied herbicide and, thus, a potential hormetic dose. Applying the field rate may thus not only directly select resistant biotypes, it may also indirectly promote the success and spread of resistant biotypes via hormesis. Nevertheless, hormetic effects in resistant weeds are hitherto merely randomly observed and, thus, a clear quantitative basis to judge the significance of hormesis for resistance evolution is lacking. Therefore, this study aimed at quantifying the degree and frequency of herbicide hormesis in sensitive and resistant weed species in order to provide a first indication of whether the phenomenon deserves consideration as a potential factor contributing to the development of herbicide resistance. In germination assays complete dose-response experiments were conducted with sensitive and resistant biotypes of Matricaria inodora (ALS-target-site resistant; treated with iodosulfuron-methyl-sodium/mesosulfuron-methyl), Eleusine indica (glyphosate­resistant; treated with glyphosate), and Chenopodium album (triazine/triazinone-target-site resistant; treated with terbuthylazine). After 10 days of cultivation under controlled conditions plant growth was analyzed by measuring shoot/root length and mass. Results indicated that herbicide hormesis occurred on average with a total frequency of 29% in sensitive/resistant biotypes with an average growth increase of 53% occurring typically within a dose zone exceeding 350fold. Hormetic effects occurred, however, very variable and only for specific endpoints and not plant growth in general. If such a variable stimulation of specific traits will translate to resistance relevant growth promotion under more practical conditions is uncertain. None-the-less, for a full understanding of the development of herbicide resistance, hormetic effects should be considered as a potential factor in resistance evolution. Keywords: Biphasic, growth stimulation, herbicides, target-site resistance Ist Hormesis ein unterschätzter Faktor bei der Entwicklung von Herbizidresistenz? Zusammenfassung Der wachsende Einfluss der Herbizidresistenz in Unkräutern erschwert zunehmend das Unkrautmanagement und das Hinauszögern der Resistenzentwicklung ist zu einem wichtigen Aspekt der chemischen Unkrautkontrolle geworden. Hormesis und damit das Phänomen, dass niedrige Dosierungen von Herbiziden das Unkrautwachstum fördern können, könnte in diesem Zusammenhang von Bedeutung sein, da die empfohlene Aufwandmenge für resistente Unkräuter eine niedrige Dosis und somit eine hormetische Dosis darstellen kann. Eine Applikation der empfohlenen Aufwandmenge könnte somit nicht nur direkt resistente Biotypen selektieren, sondern die Ausbreitung von resistenten Biotypen durch Hormesis indirekt fördern. Bisher wurden hormetische Effekte bei resistenten Unkräutern allerdings nur zufällig beobachtet, sodass die Datenbasis nicht ausreicht, um die Relevanz hormetischer Effekte für die Resistenzentwicklung abzuschätzen. Ziel dieser Studie war es deshalb, das Ausmaß und das Auftreten von Hormesis in sensitiven und resistenten Unkautbiotypen zu untersuchen, um einen Hinweis darauf zu erhalten, ob Hormesis als potentieller Mechanismus zur Resistenzentwicklung beitragen könnte. In Keimtests wurden deshalb Dosis-Wirkungsversuche durchgeführt mit sensitiven und resistenten Biotypen von Matricaria inodora (ALS-Target-Site Resistenz; Behandlung mit Iodosulfuron-methyl-Natrium/Mesosulfuron-methyl), Eleusine indica (Glyphosat­resistent; Behandlung mit Glyphosat) und Chenopodium album (Triazin/Triazinon-Target-Site Resistenz; Behandlung mit Terbuthylazin). Nach 10 Tagen Versuchsdauer wurden die Länge und das Gewicht von Spross und Wurzel als Wirkungsparameter erhoben. Die Ergebnisse zeigten, dass hormetische Effekte sowohl beim sensitiven, als auch beim resistenten Biotyp im Durchschnitt mit einer Frequenz von 29% auftrat bei einer durchschnittlichen Wachstumsstimulierung von 53% und einem hormetischen Dosisbereich von durch­schnittlich über 350fach. Hormetische Effekte zeigten jedoch eine hohe Variabilität und waren nur jeweils für spezifische Wirkungsparameter zu beobachten und nicht das Pflanzenwachstum im Allgemeinen. Ob die beobachtete variable und spezifische Stimulierung einzelner Wachstumsparameter unter Praxisbedingungen zur Resistenzentwicklung beitragen kann ist fraglich. Für ein vollständiges Verständnis der Entwicklung von Herbizidresistenz sollten hormetische Effekte dennoch als ein potenzieller Faktor der Resistenzevolution in Erwägung gezogen werden. Stichwörter: Biphasisch, Herbizide, Wachstumsstimulierung, Wirkortresisten

Accounting Education in Nigerian Universities: Challenges and Prospects

The primary challenge of a university is to develop quality human capital for every sector of the nationaleconomy. One area of dire need is the production of graduate accountants who are adequately prepared to meetthe accounting challenges of modern businesses as well as the socio-political and economic needs of government.To meet the challenge of producing well educated graduate accountants, three complementing competenciesought to be inculcated in the students namely education, skills and attitudes. These developmental traits musttherefore be incorporated in the accounting programme/curricula. Unfortunately most universities in Nigeria arechallenged by inadequacies in terms of curricula content, staffing, teaching aids and pedagogy, teaching facilitiesand particularly gross inadequacy of funding. This paper evaluates the nature, dimensions and consequences ofthese challenges and recommends strategies that could guide the government, university administrators, teachersand other stakeholders in finding lasting solutions to the problems

Intangible Relational Capital and the Success of Entrepreneurship Firms in Nigeria: A Second Look

This study used data collected from 20 SMEs operating in Anambra and Enugu states of Nigeria to evaluate theimpact of relational capital on the success of firms. The multiple regression analysis was the main statisticaltool used to test the relationship between a dependent variable (success) and a set of five independent variables(relations with customers and suppliers, informal relations, reputation, location and ties with external bodiesincluding government). The results indicate that only the variables concerned with relationship with customersand suppliers and those relating to ties with external bodies made significant contributions to the success of firms(t=7.549, p<.01); and (t=5.107, p<.01) respectively. Result also shows that R2 =.534 indicating that the set ofindependent variables accounts for slightly more than half of the explanation of the success of firms in thesample. The paper recommends that more future research efforts should be invested to develop other reliablemeasures and measurements of relational capital given its significant impact evident in this study.Key Words: Relational Capital, Intellectual Capital, Value added, Competitive advantage, Firm succes

Complementarities of Economic Value Indicators and Organizational Learning Parameters in the Assessment of Export Success of Small-Scale Enterprises in Nigeria

development of government.  In assessing export success, many researchers focus on the economics of export trade i.e the financial gains from the process.  Often neglected are the organizational learning experiences which contribute substantially to financial success in the export venture.  This study of ten small-scale enterprises exporting primary products reveals that economic factors are not the only criteria to consider.  Our results indicate that learning experience has 92% correlation with export financial success, while economic value has 87%.  By implication, firms which have organizational learning orientation as a major focus and have desire to learn from international trade are likely to succeed more in export endeavours than those that value only economic gains.  Therefore, learning experiences should be applied in conjunction with economic values in evaluating export success.  The requisite knowledge and skill could either be acquired by hiring managers with such knowledge and skills in international markets or developed through training on the trade experience. Key Words: Evaluating, Export success, Economic Value, Organizational Learning, Small firms.