The history of the Methodist Episcopal Church in northwestern Pennsylvania

Thesis (M.A.)--Boston University, 1939. This item was digitized by the Internet Archive

Assesment Centers In Human Resource Management

Contents : Assessment centers and human resources management decisions Casestudies of assessment centers in operation Basic requirements of an assessment center Dimensions to be assessed Situatinal exercises Observing and classifying behavior Group discussion of assessment information Providing feedback of assessment Evaluating the accuracy of assessment center result The future of assessment center

Hark the Call of Liberty

https://digitalcommons.library.umaine.edu/mmb-me/1087/thumbnail.jp

IPO Pricing Phenomena: Empirical Evidence Of Behavioral Biases

Does IPO stand for Instant Profit Opportunity or It’s Probably Over-priced?  The conundrum is that both answers are generally correct.  The answer appears to depend on the investor’s investment horizon.  This realization provides an enigma for the Efficient Market Hypothesis (EMH) proponents. It is widely known that initial public offering (IPO) stocks in the past have typically been underpriced, thereby allowing the fortunate purchaser to buy the shares in the primary market and systematically beat the stock market averages. This phenomenon is evidenced by the average one-day returns on IPOs of 15% and presents a puzzle to efficient market advocates. Behavioral finance posits that the same underpriced IPO stocks will under-perform the market and deliver substandard performance during the ensuing one to three years. At a minimum, the “new-issues puzzle” presents a challenge to the EMH and has given rise to many class-action stockholder lawsuits alleging illegal price manipulation.   Why under-pricing systematically happens and why issuing firms/major shareholders choose to leave copious amounts of money on the table is not well explained by traditional financial theory.  Behavioral finance melds together investor psychology and normative financial theory in an attempt to explain this market enigma

Behavioral Assessment of Expert Talent Competencies: Analysis, Decision Making, and Written and Verbal Communication Skills

Organizations face challenges of screening applicants for critical skills to serve in expert staff positions requiring interactions with line managers. Such positions require a special set of cognitive and interpersonal competencies. This study investigates the psychometric qualities of a new behavioral assessment method in use in an applied setting. Using data from a group of 219 finalists for positions in a large Iranian steel company, it examined the validity and fairness of the method in relation to other test and demographic information. Results showed evidence of convergent and discriminant validity and no discrimination against women or older candidates. The study contributes to a clearer understanding of expert competencies and a practical method for assessing and training such competencies. Next steps and future needs are identified

Do Underwriters Create Value In The Determination Of The IPO Final Offering Price?

A company sets a price range in their “red herring” prospectus filed with the Securities and Exchange Commission when they issue shares for the first time.  The firm’s investment bankers then test the market to determine if the shares can be sold.  The final offer price will be above, within or below the initial price range in the “red herring.”  This paper studies the first day price change and relates it to the final offering price being set below, within or above the initial price range.  Based on six years (2002-2007) of market data, covering both bull and bear markets, it appears that investors might be able to realize higher percentage gains on the first day by investing in those stocks that are priced above the range indicated in the “red herring.” Furthermore, the exchange on which the IPOs are traded also plays a significant role in the first day price change. We find empirical support for the partial price adjustment hypothesis of IPO underpricing and this finding is robust with respect to market regiments

Discussion required for correct interpretation

Thank you for the opportunity to comment on the editorial by Romero and colleagues [1], which raises a number of important and interesting questions. Such discussion is mandatory if results of scientific techniques such as gene array are to be correctly interpreted and used as the basis for future improvements in patient care

George Thornton Edwards Correspondence

Entries include brief biographical information and a typed biography