What makes a bank efficient? : a look at financial characteristics and management and ownership structure

Increased competition, new technology, and bank consolidation are reinforcing the need for banks to operate efficiently. Moreover, recent research on banking efficiency shows that there is much room for reducing expenses and making better use of bank resources. This article compares the financial characteristics, as well as the management and ownership structure, of a sample of efficient and inefficient banks from the Tenth Federal Reserve District. The comparison reveals a number of factors that contribute to bank efficiency. ; Efficient banks control all aspects of costs, yet deliver bank services that are often more resource intensive than the services provided by less efficient banks. Stockholders at efficient banks are actively involved, play a major policymaking role, or make other contributions through the board of directors. A bank is more likely to be efficient if its manager either has a strong financial stake in the bank, or is closely monitored by stockholders and given appropriate incentives. The data further suggest that efficient banks are not achieving their efficiency by expending fewer resources on credit analysis and other forms of risk control. In sum, efficient bank operations can be obtained under a variety of circumstances, but two essential keys to success are properly motivated managers and active participation by bank owners.Banking structure ; Bank management

Who's minding the store? motivating and monitoring hired managers at small, closely held firms: the case of commercial banks

We test whether the gains from hiring an outside manager exceed the principal-agent costs of owner-manager separation at 266 small, closely held U.S. commercial banks. Our results suggest that hiring an outside manager can improve a bank's profit efficiency, but that these gains depend on aligning the hired managers with owners via managerial shareholdings. We find that over-utilizing this control mechanism results in entrenchment, while under-utilization is costly in terms of foregone profits. This study provides a relatively unfettered test of mitigating principal-agent costs, because these small banks cannot rely on market forces or blocks of outside investors to monitor managers.Small business ; Banks and banking - Costs ; Bank management

Elastic, Viscous, and Mass Load Effects on Poststroke Muscle Recruitment and Co-contraction During Reaching: A Pilot Study

Background: Resistive exercise after stroke can improve strength (force-generating capacity) without increasing spasticity (velocity-dependent hypertonicity). However, the effect of resistive load type on muscle activation and co-contraction after stroke is not clear. Objective: The purpose of this study was to determine the effect of load type (elastic, viscous, or mass) on muscle activation and co-contraction during resisted forward reaching in the paretic and nonparetic arms after stroke. Design: This investigation was a single-session, mixed repeated-measures pilot study. Methods: Twenty participants (10 with hemiplegia and 10 without neurologic involvement) reached forward with each arm against equivalent elastic, viscous, and mass loads. Normalized shoulder and elbow electromyography impulses were analyzed to determine agonist muscle recruitment and agonist-antagonist muscle co-contraction. Results: Muscle activation and co-contraction levels were significantly higher on virtually all outcome measures for the paretic and nonparetic arms of the participants with stroke than for the matched control participants. Only the nonparetic shoulder responded to load type with similar activation levels but variable co-contraction responses relative to those of the control shoulder. Elastic and viscous loads were associated with strong activation; mass and viscous loads were associated with minimal co-contraction. Limitations: A reasonable, but limited, range of loads was available. Conclusions: Motor control deficits were evident in both the paretic and the nonparetic arms after stroke when forward reaching was resisted with viscous, elastic, or mass loads. The paretic arm responded with higher muscle activation and co-contraction levels across all load conditions than the matched control arm. Smaller increases in muscle activation and co-contraction levels that varied with load type were observed in the nonparetic arm. On the basis of the response of the nonparetic arm, this study provides preliminary evidence suggesting that viscous loads elicited strong muscle activation with minimal co-contraction. Further intervention studies are needed to determine whether viscous loads are preferable for poststroke resistive exercise programs

Earnings Losses of Displaced Workers

The 1990-1991 recession has intensified concerns about the consequences of workers' job losses. To estimate the magnitude and temporal pattern of displaced workers' earnings losses, we exploit an unusual administrative data set that includes both employees' quarterly earnings histories and information about their firms. We find that when high-tenure workers separate from distressed firms their long-term losses average 25 percent per year. Further, their losses mount even prior to separation, are not limited to workers in a few industrial sectors, and are substantial even for those who find new jobs in similar firms. This evidence suggests that displaced workers' earnings losses result largely from the loss of some unidentified attribute of the employment relationship.earnings, wages, losses, displaced, dislocated, workers, Jacobson, LaLonde, Sullivan

Proctolin and an Endogenous Proctolin-Like Peptide Enhance the Contractility of the Limulus Heart

Synthetic proctolin increases the force but not the rate of heart contractions of Limulus in a time- and dose-dependent manner. The threshold of this effect is 3 × 10−10M and the ED50 is approximately 10−8M. At concentrations up to 10−7 M, proctolin has no effect on the rhythmic electrical activity of the isolated cardiac ganglion, and it does not change the simple and compound postsynaptic potentials recorded at the cardiac neuromuscular junction. Proctolin acts directly on the cardiac muscle fibres. Electrically stimulated myocardia show a proctolin-induced increase in contraction amplitude with the same concentration dependence as the intact heart. A compound with an apparent molecular weight of 700–800 occurs in the Limulus nervous system, particularly in the cardiac ganglion. This compound resembles proctolin in being heat-stable, resistant to trypsin and chymotrypsin cleavage, and losing activity in a time-dependent manner in response to treatment with leucine aminopeptidase or pronase. This peptide induces spontaneous contractions and a contracture of the cockroach hindgut in a manner similar to proctolin. Moreover, the Limulus inotropic peptide, like proctolin, increases the force of contraction of the Limulus heart without affecting beat frequency. It is concluded that an endogenous, proctolin-like peptide is an inotropic modulator of the Limulus heart, acting directly on the muscle fibres and not affecting cardiac ganglion activity

Long-term earnings losses of high-seniority displaced workers

Displaced workers

Student Evaluation of Teaching: The Inequity of Faculty Scores in Online versus Face-to-Face Courses

Researchers have conducted a multitude of studies over the last century on Student Evaluations of Teaching (SET); however, very few have been conducted in the new digital age (Loveland, 2007). More work is in progress as researchers try to define the differences in student responses and thoughts about the online teaching environment. The unfortunate side of this can be the administrative decision to use a one-size-fits-all mentality when many authors including Dziuban and Moskal (2011) have outlined several research-based alternatives for evaluation of online instructional effectiveness. SETs are important to faculty because they often are the determining factor in merit pay and tenure/promotion. Faculty use SETs to guide decision-making about their curriculum and instructional strategies used to deliver the course (Sheehan & DuPrey, 1999). The power of the SET is recognized as a driving force in academia. What are often not discussed are the differences between SET for face-to-face courses versus SET for online courses

Suicide Bombings in Operation Iraqi Freedom

Suicide bombing is the act of blowing oneself up in order to kill (destroy) or injure (damage) a target. The target may be military or civilian or both. Typically, the killing or physical destruction of the target is less important than the terror generated by undertaking the act. This ultimately makes suicide bombing a “disruptive firepower” capability (based on Bond-Relationship Targeting) utilized by opposing forces (OPFORs) which lack traditional destructive firepower

VBIEDs in the Mexican Criminal Insurgency

At least 130,000 people have been killed in the ongoing Mexican “crime war,” and many more have been kidnapped or simply gone missing. Yet despite the significance of these numbers, official reports and news accounts frequently underreport the toll of this war