The Highest Price Ever: The Great NYSE Seat Sale of 1928–1929 and Capacity Constraints

During the 1920s the New York Stock Exchange's position as the dominant American exchange was eroding. Costs to customers, measured as bid-ask spreads, spiked when surging inflows of orders collided with the constraint created by a fixed number of brokers. The NYSE's management proposed and the membership approved a 25 percent increase in the number of seats by issuing a quarter-seat dividend to all members. An event study reveals that the aggregate value of the NYSE rose in anticipation of improved competitiveness. These expectations were justified as bid-ask spreads became less sensitive to peak volume days

Multigenerational Cohorts, Gender, Experience, Technology and Voluntariness Effects on Efficiency and Productivity

Since the beginning of the 2000s, unique challenges for a multigenerational workforce (MW) using different types of current technology (CT), informational and noninformational, at an increasing rate have surfaced. Necessary considerations were made among companies using these types of CT that changed frequently and influenced employee efficiency (EE) and organizational productivity (OP), leading to an under-identified impact on management decisions. The problem addressed in this study was the difficulty management had in managing work tasks and activities when CT was used in a MW. Most of the Baby Boomer generation will be retiring over the next decade, thus compromising and leaving a major gap in skills, experience, and talent. The purpose of this quantitative research study was to study the effects of multigenerational cohorts (MC), gender (GEN), CT, experience (EXP), and voluntariness of use (VU) (independent variables [IVs]), among a MW and their impact on EE and OP (dependent variables [DVs]). Two research questions were used that focused on the relationship between the IVs and DVs. Positivism was used as the theoretical framework. A convenience sampling approach was used to select participants. The participants were full-time employees between 23 and 71 years of age in the continental United States. Multiple and stepwise regression analyses was used to investigate the relationship between the IVs and the DVs. Results showed that only IVs type of CT and VU had a significant effect on EE and OP. These findings may contribute to positive social change by helping organizations create comprehensive and explicit business models of efficiency and productivity among a MW

The Highest Price Ever: The Great NYSE Seat Sale of 1928-1929 and Capacity Constraints

A surge in orders during the stock market boom of the late 1920s collided against the constraint created by the fixed number of brokers on the New York Stock Exchange. Estimates of the determinants of individual stock bid-ask spreads from panel data reveal that spreads jumped when volume spiked, confirming contemporary observers complaints that there were insufficient counterparties. When the position of the NYSE as the dominant exchange became threatened, the management of the exchange proposed a 25 percent increase in the number of seats in February 1929 by issuing a quarter-seat dividend to all members. While such a "stock split" would be expected to leave the aggregate value of the NYSE unchanged, an event study reveals that its value rose in anticipation of increased efficiency. These expectations were justified as bid-ask spreads became less sensitive to peak volume days after the increase in seats.

ESTIMATING EFFECTS OF AGRICULTURAL RESEARCH AND EXTENSION EXPENDITURES ON PRODUCTIVITY: A TRANSLOG PRODUCTION FUNCTION APPROACH

The effects of agricultural research and extension expenditures on productivity in the United States are estimated during the period 1949-81 using data for ten production regions. The large time-series cross-sectional data base allows the translog production function to be estimated directly. Results from the translog and Cobb-Douglas production functions are compared. The results indicate that use of the Cobb-Douglas production function would overestimate the internal rate of return of agricultural research and extension expenditures in the United States and eight production regions. The total marginal product and internal rate of return for the United States are $8.11 and 66 percent, respectively.Productivity Analysis,

Grasslands of the World

An introduction to the Grasslands of the World, detailing their importance, explorer\u27s impressions, and human interaction with nature. The Masai [sic] are also a nomadic people whose principal interest and sole wealth are in cattle and goats

Perceptions of Past Competitors: Presentation of the Data

In the past five years several well established forensic programs in our region have been discontinued. The reasons given to justify these decisions often centered on a lack of resources available to sustain the programs. Certainly the presence of scarce resources in an academic setting is understandable, but what many current coaches and competitors found especially concerning was the perceived lack of resistance by faculty at those institutions who were themselves once forensic competitors and coaches. In fact, in some cases former competitors were active and vocal supporters of the decision to end their institution‟s forensic program. The idea for this project developed as we discussed what might cause someone who once gained enormous benefits from the activity to willingly encourage the disbandment of a program. Our initial reactions were angry and defensive. As active participants in forensics who commit much of our professional and personal energies to the activity, we felt betrayed by our former colleagues. How could one time kindred spirits shift loyalties? Once our emotions had time to cool and we were able to gain perspective, we realized that our best reaction would be to stop speculating on the motives of others and actually conduct some research that might provide insight into how former competitors in forensics currently perceive the activity. Perhaps by understanding their perspectives, we as active forensic educators could nurture collaborative, rather than adversarial relationships