The World Distribution of Household Wealth

There has been much recent research on the world distribution of income, but also growing recognition of the importance of other contributions to well-being, including those of household wealth. Wealth is important in providing security and opportunity, particularly in poorer countries that lack full social safety nets and adequate facilities for borrowing and lending. We find, however, that it is precisely in the latter countries where household wealth is the lowest, both in absolute and relative terms. Globally, wealth is more concentrated than income both on an individual and national basis. Roughly 30 per cent of world wealth is found in each of North America, Europe, and the rich Asian-Pacific countries. These areas account for virtually all of the world?s top 1 per cent of wealth holders. On an official exchange rate basis India accounts for about a quarter of the adults in the bottom three global wealth deciles while China provides about a third of those in the fourth to eighth deciles. If current growth trends continue, India, China and the transition countries will move up in the global distribution, and the lower deciles will be increasingly dominated by countries in Africa, Latin American and poor parts of the Asian-Pacific region. Thus wealth may continue to be lowest in areas where it is needed the most.wealth, net worth, personal assets, wealth inequality, households, balance sheets, portfolios

SME Performance: A Case for Internal Consistency

We develop the theoretical arguments for a contingent path relationship among variables representing the environment, capabilities, strategic orientation, and firm performance. The premise underpinning our study is that internal consistency or fit among contingent relationships yields higher performance levels. Structural equation modeling allows for the statistical examination of multiple relationships simultaneously to test our hypotheses. We find support for the notion that internally consistent paths lead to higher levels of performance for a sample of 181 mid-western small and medium-sized manufacturing firms. A discussion of the implications for these findings with respect to managerial practice and future research is provided

On the Four-Dimensional Diluted Ising Model

In this letter we show strong numerical evidence that the four dimensional Diluted Ising Model for a large dilution is not described by the Mean Field exponents. These results suggest the existence of a new fixed point with non-gaussian exponents.Comment: 9 pages. compressed ps-file (uufiles

The interplay of strategic orientations and their influence on SME performance

This paper examines the role that learning orientation plays with respect to entrepreneurial orientation, market orientation, and, ultimately, the performance of small and medium-sized enterprises SMEs. Previous research indicated mixed findings in regards to the relationship of these strategic orientations and firm performance. Instead of just direct influences to performance, we examine if learning orientation is an antecedent to market and entrepreneurial orientation. We suggest that in this way, their influence to SME performance would be more accurately predicted. We argue that learning orientation reflects the overall values of the organization, whereas entrepreneurial and market orientations are more action-oriented firm behaviors. Learning orientation would likely set the stage for the requisite actions implied in market and entrepreneurial orientation. Direct effect and mediated effects hypotheses between these strategic orientations are tested on a sample of SME manufacturing firms and their performance. Findings indicate that learning and entrepreneurial orientation directly influence SME performance. However, when learning orientation and its effects are mediated by market and entrepreneurial orientation, direct effects disappear when testing this model. The study offers insight into relationships between various strategic orientations, as to how and when they might influence SME performance

The influence of infant irritability on maternal sensitivity in a sample of very premature infants

The relationship between maternal sensitivity and infant irritability was investigated in a short-term longitudinal study of 29 very preterm infants. Infant irritability was assessed at term with the Brazelton NBAS, the Mother and Baby Scales (MABS) and the Crying Pattern Questionnaire (CPQ). Maternal sensitivity was assessed by nurses' ratings in the neonatal care unit and at three months during motherinfant interaction observation. Cross-lagged panel analysis indicated that neonatal irritability did not influence sensitivity at 3 months nor did maternal sensitivity in the newborn period lead to reduced irritability at 3 months. Both irritability and maternal sensitivity showed moderate stability over time (r=.55 and r=.60, respectively). It is concluded that in early infancy maternal sensitivity shows little influence on infant irritability in very preterm infants

Predicting Graph Categories from Structural Properties

Complex networks are often categorized according to the underlying phenomena that they represent such as molecular interactions, re-tweets, and brain activity. In this work, we investigate the problem of predicting the category (domain) of arbitrary networks. This includes complex networks from different domains as well as synthetically generated graphs from five different network models. A classification accuracy of 96.6% is achieved using a random forest classifier with both real and synthetic networks. This work makes two important findings. First, our results indicate that complex networks from various domains have distinct structural properties that allow us to predict with high accuracy the category of a new previously unseen network. Second, synthetic graphs are trivial to classify as the classification model can predict with near-certainty the network model used to generate it. Overall, the results demonstrate that networks drawn from different domains (and network models) are trivial to distinguish using only a handful of simple structural properties

Bootstrapping Techniques and New Venture Emergence

Among nascent entrepreneurial ventures, are some types of bootstrapping techniques more successful than others? We compare externally oriented and internally oriented techniques with respect to the likelihood of becoming an operational venture; and we compare cash-increasing and cost-decreasing techniques with respect to becoming operational. Using data from the first Panel Study of Entrepreneurial Dynamics, we find evidence suggesting that when bootstrapping a new venture, the percentage of cash-increasing and cost-decreasing externally oriented bootstrapping techniques that a venture’s owners use are positive predictors of subsequent positive cash flow (one and two years later). But, internally oriented techniques are not related to subsequent cash flow