Resident Impacts of Immigration: Perspectives from America’s Age of Mass Migration

Elementary economic models are often used to suggest that immigration depresses the wages of native-born workers. These models assume that when immigrants enter a labour market, all other features of that market remain unchanged. Such an assumption is almost never valid. Here we explore the economic impacts of immigrants during America’s Age of Mass Migration a century ago. This was a period of dynamic structural change that witnessed the appearance of new industries, adoption of new technologies, discovery of new mineral resources, the rise of big business, and the geographic concentration of industries. We show that immigrants – and residents – selected destinations where labour demand and wages were rising. Thus, native workers experienced wage increases in the presence of heavy immigration. Models that abstract from the special characteristics of labour markets that attract immigrants misrepresent their economic impact.Immigration, Internal migration, Economic history of immigration, Counterfactual analysis

Linearized self-forces for branes

We compute the regularized force density and renormalized action due to fields of external origin coupled to a brane of arbitrary dimension in a spacetime of any dimension. Specifically, we consider forces generated by gravitational, dilatonic and generalized antisymmetric form-fields. The force density is regularized using a recently developed gradient operator. For the case of a Nambu--Goto brane, we show that the regularization leads to a renormalization of the tension, which is seen to be the same in both approaches. We discuss the specific couplings which lead to cancellation of the self-force in this case.Comment: 15 page

Capital Acquisition Attitudes: Gender and Experience

In this research we provide evidence on small firm owners\u27 attitudes and approaches to capital acquisition. The most surprising finding is their general dissatisfaction with the capital acquisition process. Yet we found no evidence that this dissatisfaction translates into poor performance. Our analysis indicates that male-owned business were older, more likely to be technology-based, and bigger in terms of sales and assets. Male respondents were also better educated. We found no significant results for the firms owned by more experienced respondents. However, more experienced owners and male respondents were more likely to look outside resources, like governments, to provide guidance and assistance in the capital acquisition process. Implications from the results can be used by owners to better understand capital acquisition decisions and to develop better capital acquisition, by government agencies that develop public policy on small firms, and consultants that assist small firms with capital acquisition

Applying choice based conjoint measurement to forcast demand for a new restaurant category

This paper examines the use of Choice Based Conjointexperimentation for forecasting demand for a new restaurant category.The results of the forecasting experiment are compared to demand forexisting restaurant categories to determine whether the choice experimentreplicates actual category shares in the sampled region. The analysisshows that Choice Based Conjoint experiments are able to predictcategory shares for existing restaurant categories. It is then shown howthe approach may be used to estimate demand for a new category

Effect of Professional Background on Venture Capital Proposal Evaluation

This paper reports on the differences in investment related activities and evaluation criteria of venture capitalists having a business background compared to venture capitalists having a non-business background . Data was collected from a nationwide survey of 72 venture capitalists. The results show that venture capitalists having a non-business background invest in earlier stages of the firm. require a shorter payback period and make more follow-up investments than business background venture capitalists. The non-business background venture capitalists place greater importance on the uniqueness of the product , the cost structure of the project and the entrepreneur\u27 s health and less importance on exit procedures than business background venture capitalists

Online Investment Banking Phase I: Distribution via the Internet and Its Impact on IPO Performance

In the past few years, there has been a growth in Internet markets run by online investment bankers, where companies and investors can buy and sell initial public offerings (IPOs) of corporate stock. In this study, we confine our examination to the first of what we anticipate will be several phases in the evolution of Internet IPOs: the online distribution of shares. This implies the beginning of a general disintermediation in the IPO process where traditional roles of investment banks are being circumvented via the Internet as participants search for greater market efficiency. This is an important research area because potentially it affects all public companies, or companies considering going public, the investment banking industry, and all stock investors. We address two research issues not considered by previous studies. What factors affect organizational choice of online vs. traditional IPO distribution? What are the financial performance differences for IPOs distributed using online and traditional processes? These issues were addressed using company characteristic and financial performance data from 27 IPOs from the last half of 1998. We find that the Internet IPO firms are larger, have younger CEOs, choose more reputable investment banks and are more likely to be involved in a Web-based business, directly employing the Internet in their product or service, than the firms that choose the traditional method of going public. In addition, market performance, both initially and over the first three months of trading, is significantly greater for Internet IPOs

USM3D Analysis of Low Boom Configuration

In the past few years considerable improvement was made in NASA's in house boom prediction capability. As part of this improved capability, the USM3D Navier-Stokes flow solver, when combined with a suitable unstructured grid, went from accurately predicting boom signatures at 1 body length to 10 body lengths. Since that time, the research emphasis has shifted from analysis to the design of supersonic configurations with boom signature mitigation In order to design an aircraft, the techniques for accurately predicting boom and drag need to be determined. This paper compares CFD results with the wind tunnel experimental results conducted on a Gulfstream reduced boom and drag configuration. Two different wind-tunnel models were designed and tested for drag and boom data. The goal of this study was to assess USM3D capability for predicting both boom and drag characteristics. Overall, USM3D coupled with a grid that was sheared and stretched was able to reasonably predict boom signature. The computational drag polar matched the experimental results for a lift coefficient above 0.1 despite some mismatch in the predicted lift-curve slope

Switching Costs and Loyalty: Understanding How Trust Moderates Online Consumers’ Ties to Merchants

Information technology has transformed how travelers interact with travel service providers. Due to fierce competition in the online air travel industry, e-ticketing services have focused attention on fostering customer loyalty. This is an important strategy because, in general, initial transactions with new customers are less profitable than transactions with existing customers. Drawing on research on customer loyalty, switching costs, and trust, this study develops, and proposes an empirical test, for a model incorporating trust as a moderator of the relationship between switching costs and online customer loyalty. We propose that in the presence of high customer trust, e-businesses should have less need to rely on switching costs as a driver of customer loyalty. If supported, this proposition will extend understanding of customer loyalty, switching costs, and trust in e-commerce environments and provide practical, theory-driven, guidelines to e-businesses seeking to develop customer loyalty programs

Convicts and coolies : rethinking indentured labour in the nineteenth century

This article seeks to shift the frame of analysis within which discussions of Indian indentured migration take place. It argues that colonial discourses and practices of indenture are best understood not with regard to the common historiographical framework of whether it was 'a new system of slavery', but in the context of colonial innovations in incarceration and confinement. The article shows how Indian experiences of and knowledge about transportation overseas to penal settlements informed in important ways both their own understandings and representations of migration and the colonial practices associated with the recruitment of indentured labour. In detailing the connections between two supposedly different labour regimes, it thus brings a further layer of complexity to debates around their supposed distinctions