Earnings and Dividend Announcements is there a Corroboration Effect?

We examine abnormal stock returns surrounding contemporaneous earnings and dividend announcements in order to determine whether investors evaluate the two announcements in relation to each other.We find that there is a statistically significant interaction effect.The abnormal return corresponding to any earnings or dividend announcement depends upon the value of the other announcement. This evidence suggests the existence of a corroborative relationship between the two announcements. Investors give more credence to unanticipated dividend increases or decreases when earnings are also above or below expectations, and vice versa.

The Fiscal Burden of Korean Reunification: A Generational Accounting Approach

This paper uses Generational Accounting to assess the fiscal impacts of Korean reunification. Our findings suggest that early reunification will result in a large increase in the fiscal burden for most current and future generations of South Koreans. The Korean reunification's fiscal impact appears much larger than that of German reunification, due to a wider gap in productivity between the two Koreas and North Korea's much larger share of the unified country's population. The projected large-scale fiscal burden on South Korea is attributable primarily to the rapid increase in social welfare expenditure for North Korean residents, rather than to the direct reconstruction cost of the North Korean economic system after the disintegration of its old economic regime.

Understanding, developing and maintaining mental toughness in tennis

Eighteen (10 female and 8 male) recently retired top world-ranked Australian professional tennis players responded to a questionnaire that was developed to address future directions by mental toughness researchers. A series of inductive content analyses was conducted to analyze the qualitative data obtained from participants’ responses. These analyses revealed that mental toughness is a most sought-after dynamic attribute that encompasses a range of abilities (e.g., focus, work ethic) to consistently perform well under pressure. Further, mental toughness is thought to be ‘taught’ and/or ‘acquired’ over many years and can be influenced by factors that include injury, changes in a player’s technique and match results. Examples of mentally tough players were cited and reasons given as to their selection as outstanding mentally tough competitors. Sport psychologists, coaches, parents and other mentors were identified as significant members of a support team to guide and equip players to be mentally tough competitors. This study’s value to the tennis community includes practical benefits from gaining a fuller understanding of what is arguably one of the most important psychological skills in achieving excellence and enjoyment in tennis, namely mental toughness

The dynamic role of elite coach : player and coach perspectives

As part of a larger study on talent development, ten top ranked players and ten coaches (nominated by the player) responded to open-ended questionnaires. Players and coaches were asked them to recall their background in tennis, describe the role of the coach and any changes in this role, and offer suggestions to coaches for nurturing talent. A series of inductive content analyses was conduct to analyze the data. These analyses revealed significant, and changing, roles of the coach during a player’s development to professional status. Recommendations to coaches highlighted the importance of coach philosophy, communication, and planning. Implications for coach education programs are discussed

The influence of parents in identifying and developing Australian female tennis talent

This study investigated the role of parents in developing Australian female professional tennis players. Top WTA ranked Australian singles players (n=10) and their parents (n=10) responded to written questionnaires. Participants were asked to recall their tennisbackground and describe the current role of parents and compare these to possible earlier roles. Further, participants were asked to make recommendations to parents who wanted to help a player develop her talent. A series of inductive content analyses was conducted to analyze the data. These analyses revealed a significant, and changing, role of parents in a development process extending over 10 years. Sacrifices were necessary in order to pursue a tennis career but positive benefits were generally reported by players and their parents. The importance of a caring and respectful home environment for aspiring players was highlighted

Generational accounting in Korea

노트 : The views expressed herein are those of the authors and are not necessarily those of the National Bureau ofEconomic Research

The fiscal burden of Korean reunification

노트 : The views expressed herein are those of the author(s) and not necessarily those of the National Bureau of Economic Research

Rapid turnover of the recirculating lymphocyte pool in vivo

Lymphocytes are unique among blood cells in their capacity to continually recirculate between blood and the tissues via the lymph. Previous estimates of lymphocyte lifespan in vivo and the turnover of the recirculating lymphocyte pool have been deduced from indirect labeling techniques. Using the fluorescent dye PKH-26, individual labeled cells have been tracked in sheep for periods >2 months. By direct measurement their lifespan was calculated. This label was found to be stable in vivo, allowing long-term analysis of the characteristics of the recirculating lymphocyte pool. It Is possible to calculate the rate of turnover of cells of the recirculating pool based on the rate at which labeled cells disappear from the lymphatic circulation. The recirculating lymphocyte pool was found to repopulate itself every 16.5 ± 3.0 days. Using this label, it was estimated that recirculating lymphocytes divide on average once every 29.8 ± 6.8 days. Labeled erythrocytes were also examined and found to have an average lifespan of 153 days, demonstrating no dye loss over the 2 month period of observation. These data suggest that the recirculating lymphocyte pool is a highly dynamic compartment, with a high rate of turnover and peripheral cell division in vivo. This is the first report of the direct measurement of the in vivo turnover of recirculating lymphocyte pools, and this method may now be used to further analyze the lifespan of individual lymphocyte subsets and the in vivo lifespan of other cell types in viv