Gray Markets and Multinational Transfer Pricing

Gray markets arise when a manufacturer's products are sold outside of its authorized channels, for instance when goods designated for a foreign market are resold domestically. One method multinationals use to combat gray markets is to increase internal transfer prices to foreign subsidiaries in order to increase the gray market's cost base. We illustrate that, when a gray market competitor is present, the optimal price for internal transfers not only exceeds marginal cost, but is also a function of the competitiveness of the upstream economy. Moreover, the presence of a gray market competitor may cause unintended social welfare consequences when domestic governments mandate the use of arm's length transfer prices between international subsidiaries. When markets are sealed, arm's length transfer pricing strictly increases domestic social welfare. In contrast, we demonstrate that when a gray market competitor is present, mandating the use of arm's length transfer pricing decreases domestic social welfare when the domestic market is sufficiently large relative to the foreign market. Specifically, a shift to arm's length transfer pricing erodes domestic consumer surplus by making the gray market less competitive domestically, which in turn may offset any domestic welfare gains that accompany a shift to arm's length transfer pricing. Finally, the analysis illustrates that in a gray market setting, the transfer price that maximizes a multinational's profits may also be the same one that maximizes the social welfare of the domestic economy that houses it.transfer pricing, gray markets, regulation

Role of aromatic structure in pathways of hydrogen transfer and bond cleavage in coal liquefaction: Theoretical studies.

The mechanisms by which strong carbon-carbon bonds between aromatic rings and side chains are cleaved under hydropyrolysis conditions remain a subject of wide interest to fuel science. Recently, the authors have studied in detail an alternate pathway for hydrogen atom transfer to {pi}-systems, radical hydrogen transfer (RHT). RHT is the direct, bimolecular transfer of hydrogen from the {beta}-position of an organic radical to the target {pi}-system. In the initial theoretical study, they examined the reaction ethyl radical + ethylene = ethylene + ethyl at the spin-projected UMP2/6-31G** level of theory. Recently, they have used a calibrated ROHF-MNDO-PM3 method to predict thermoneutral RHT barriers for hydrogen transfer between hydroaryl radicals and the corresponding arene. Because of the inherent limitations of semiempirical methods such as ROHF-MNDO-PM3, they have extended the initial work with the ethyl + ethylene study to examine this reaction at the ROHF-MBPT[2]-6-31G** and ROHF-CCSD[T]-6-31G** levels of ab initio theory. The primary objective was to determine how intrinsic RHT barriers change with conjugative stabilization of the radicals. The spin-restricted ROHF approach has been applied to study several RHT reactions, and they present completed ROHF results for the ethyl + ethylene system and preliminary results for the methallyl + butadiene system. The methallyl + butadiene system serves as a model for highly stabilized hydroaryl radicals: the methallyl radical exhibits a C-H bond strength of 46.5 kcal/mol compared to 9-hydroanthracenyl, 43.1 kcal/mol

The Interaction of Cyberaggression and Self-Efficacy within the Virtual World and the Real World

The present study seeks to analyze the impact of cyberaggression and positive feedback from an anonymous videogame player on one’s self-efficacy and performance both inside and outside of the videogame. The internet provides a unique way for individuals to interact, and the online disinhibition effect can lead users to engage in out of character behaviors once online. This shift in behavior can be an influencing factor for cyberbullying or isolated instances of cyberaggression. Negative feedback can lower one’s self-efficacy, and a lower self-efficacy can lead to a worse performance on the activity. It was hypothesized that mean comments from an anonymous competitor would lower self-efficacy both in the game and for an unrelated memory task, and similarly diminish the performance in both activities. It was also hypothesized that a positive comment after the first competition would both increase self-efficacy inside and outside the game and also improve performance on both activities. Participants in the present study took a memory test, played an online racing game, received predetermined feedback after losing the race, then played the videogame and took the memory test one final time, after rating their self-efficacy before every activity. It was discovered that the type of message received did not play a role on self-efficacy and performance both inside and outside of the videogame

The clays and the ceramic industries of Texas

Accompanied by 5 foldout tables. Table I : Ceramic Tests from Bulletin No. 102. Table II : Chemical Analyses from Bulletin No. 102. Table V : Preliminary Ceramic Tests Made for the S.A.&A.P. Ry. Table VII : Ceramic Tests Made by San Antonio Chamber of Commerce. Table VII (Continued) : Ceramic Tests Made by San Antonio Chamber of Commerce. Running title : The clays of TexasUT Librarie

The trouble with girls: autoethnography and the classroom

Recent research suggests that many young women are undergoing a particularly difficult time during early adolescence, beginning with the transition to middle school (The National Center on Addiction and Substance Abuse at Columbia University [CASA], 2003; Albert, Brown, & Flanigan, 2003; American Association of University Women, 1992). Employing autoethnography, I studied my experience as girl and woman, student and teacher, in elementary and middle schools and how these informed my pedagogical practices and knowledge as an elementary school teacher. Drawing upon feminist theory and cultural studies as well as research narratives, I argue for the inclusion of kinderculture in the curriculum by considering how Barbie, a cultural icon, provides opportunities for students to explore the role of gender in schools. Additionally, I studied the role of depression in some girls\u27 early adolescence. The increase in new cases of depression in females during early adolescence (Bebbington, 1996) reveals the troubled character of many girls\u27 experience of adolescence. I propose a menopausal theory of curriculum that supports scholarly reflection and curricular attention to young girls\u27 experiences of this often difficult period of their coming of age

Using Mathematical Modeling for the Prediction of Success in Developmental Math.

This exploratory study was primarily designed to determine the possibility of developing a discriminant model to predict success in developmental mathematics. The sample included 402 students enrolled in a developmental math class at Northwestern State University, a small public school in North Louisiana, in the fall semester of 1996. Demographic, achievement and attitudinal variables were used in the development of the model. High school GPA, social enrichment scores from the College Student Inventory, and black were factors identified as significant in the model. Although limited in its predictive ability, the model does provide faculty and advisors with additional information to use in the development of intervention strategies

Effects of direct instruction and precision teaching on achievement and persistence of adult learners

Major urban areas in the United States are populated by under-educated and under-employed young adults for adults for a variety of socioeconomic and educational reasons. Increasingly, automated technology, maturing industries, changes in consumer demand and the emergence of more dynamic world-wide competition all have worked together to produce an almost insurmountable barrier for young urban high school dropouts. No longer can a high school dropout plan on factory work leading to self sufficiency in the United States, particularly in the Detroit metropolitan area. The purpose of this study was to research and report the effects of Direct Instruction and Precision Teaching and the persistence rates of adult learners. This study used Direct Instruction and Precision Teaching educational strategies on young adults enrolled in the Youthbuild Detroit program. Youthbuild Detroit is a federally funded 12-month program that supported the use of training for the construction trades and educational preparation for the test of general education development (GED). The participants were 18 through 24 years of age high school dropouts, most of who were male and African-American. A comparison group of Detroit Public Schools adult basic education students were used in this study. The findings of the study reveal that students taught basic educational skills with Direct Instruction and Precision Teaching methodologies significantly increased their reading comprehension and the attendance rates. The major conclusion determined from this study was that adult learners will show increased achievement and reduced attrition with instructional methodologies that increase student-teacher interaction and conduct daily monitoring of student achievement