The Market for Higher Education: Economic Analyses of College Choice , Returns , and State Aid Policy A thesis Present I find suggestive evidence, however, that her estimates, from a sample of
public school students, are upward biased by selection into private schools. Moreover, an
investigation of the sampling variability of Hoxbys estimates leads to the conclusion that her
standard errors are understated, and that even her own point estimates of the competitive
effect are not significantly different from zero....
AN INQUIRY ll’TO THE EFFECTS OF PERSONALITY VARIABLES ON THE ECONOMIC RETURN TO EDUCATION The potential efficiency-enhancing effects of increased Tiebout choice operate
through the assumption that parents prefer schools with j
μ -promoting policies. To the
extent that this is true, Tiebout choice induces a positive correlation between j μ and j x ,
since high- i x families will outbid lower- i x families for homes near the most preferred
After reading chapter 7, you should be able to: Explain why economic costs include both explicit (revealed and expressed) costs and implicit (present but not obvious) costs; relate the law of diminishing returns to a firm’s short-run production costs; describe the distinctions between fixed and variable costs and among total, average, and marginal costs; use economies of scale to link a firm’s size and its average costs in the long run.
In this chapter, students will be able to understand: List the characteristics of pure monopoly, explain how a pure monopoly sets its profit-maximizing output and price, discuss the economic effects of monopoly, describe why a monopolist might prefer to charge different prices in different markets, distinguish between the monopoly price, the socially optimal price, and the fair-return price of a government-regulated monopoly.
After studying this chapter you will be able to understand: Describe the idea of present value and explain why it is critical in making financial decisions; identify and distinguish between the most common financial investments: stocks, bonds, and mutual funds; discuss how investment returns compensate for being patient and for bearing risk; explain portfolio diversification and why it implies that investors can focus on nondiversifiable risk when evaluating an investment opportunity; interpret why higher levels of nondiversifiable risk are associated with higher rates of return.
From 1992 to 2000, the pace of merger activity rose to unprecedented
levels. An environment of sustained economic growth
and rising stock prices facilitated transactions. Toward the end
of 2000, the economic climate shifted and merger activity in the
fourth quarter declined. The economy showed only small growth
during the first quarter of 2001. Excess capacity in a number of
industries had developed, and sales and profit disappointments
began to widen. The business cycle had returned. Valuations in
Internet companies and other high-tech industries have been
sharply revised downward.
One of the basic building blocks for managing a successful treasury department
is the establishment of a comprehensive set of treasury policies. Such
policies define the principal financial risks a company is facing and how these
risks will be managed by the treasury department. Chapter 1 covers the process
of identifying and measuring these risks.
Several times over the last few years, we’ve asked ourselves about
our own call to leadership in a world beset by unprecedented challenges
and crises, from the AIDS pandemic to global warming to
the destruction and fear wrought by terrorism and state responses
to it. We have joined particular initiatives to respond to these challenges,
but we always return to the conviction that our best contribution
is teaching and writing about how the world’s citizens can
work together for the common good in their organizations and
With the ever-increasing levels of volatility in demand and more and more turbulent market conditions, there is a growing acceptance that individual businesses can no longer compete as stand-alone entities but rather as supply chains. Supply chain management (SCM) has been both an emergent field of practice and an academic domain to help firms satisfy customer needs more responsively with improved quality, reduction cost and higher flexibility.
ETP2010 will build on the success of earlier editions, by providing decision makers with more detailed practical information and tools that can help kick-start the transition to a more secure, sustainable and affordable energy future.
McGraw Hill Fundamentals Of Corporate Finance III presentations on Introduction to Corporate Finance, Financial Statements and Long−Term Financial Planning, Valuation of Future Cash Flows, Capital Budgeting, Risk and Return, Cost of Capital and Long−Term Financial Policy, Short−Term Financial Planning and Management, Topics in Corporate Finance.
Thus, after buying into winning funds,
investors unwittingly benefit from momentum returns on winning stocks. To
test this reasoning, Sapp and Tiwari calculate abnormal performance following
money f lows with and without accounting for the momentum factor, and find
that inclusion of the momentum factor in the performance evaluation proce-
dure eliminates outperformance of high f low funds. In addition, they show that
investors are not deliberate in seeking to benefit from stock-level momentum:
More popular funds do not have higher exposure to themomentumfactor at the
time they are selected.
The emphasis that firms in all three sectors are placing on risk management and risk
measurement issues is encouraging. This should result in stronger and better managed
firms. The ability to improve risk quantification can provide important tools for assessing
risk/return trade-offs and encourage sound risk management practices. However, firms need
to understand the limitations of such methodologies and should supplement these where
necessary, for example through stress testing.
As I noted, the ﬁnancial crisis has created an increasingly
global outlook among policymakers. More and more, national
regulators are inﬂuenced by policies fashioned abroad, and
international bodies are stepping up policy coordination.
At the same time, the extraordinary worldwide rise of as-
set managers as ﬁnancial intermediaries has created new
opportunities for funds. Responding to these and other
trends, the Institute readied a new initiative —ICI Global—
launched early in ﬁscal year 2012.
Individuals can benefit from enhanced peace of mind, less anxiety and less pain – and better
health outcomes when waiting times are very long29 – when provided with speedier access to care, as
afforded by private health insurance in duplicate PHI markets. There are nonetheless trade-offs with other
policy goals, such as equity, which have led policymakers in the Netherlands to make different policy
A Comparative Study of returns to education and the Importance of Genetic and Environment Factors: Evidence from Different twins data It thus seems likely
that the character of equilibrium will depend crucially on the particular institutions of any
choice program. Further research with large-scale voucher programs will be needed to
determine whether administrators of effective schools are rewarded by increased demand in
the choice regimes that these policies create.
Greenhouse gases such as CO2 and methane are
believed to contribute to global warming.
Dust is a common problem throughout all mining
activities. Dust generated by vehicle traffic can be
reduced through a variety of means. Where water
resources are not limited, regular watering with
mobile water trucks or fixed sprinkler systems is effec-
tive. Otherwise the application of surface binding
agents, the selection of suitable construction materials
and the sealing of heavily used access ways may be
While the demand for research on investment performance has
increased, the cost of producing this research has declined. Early
studies relied on proprietary or expensive commercial databases for
their fund performance ﬁgures, or researchers collected data by hand
from published paper volumes. In 1997, the Center for Research in
Security Prices introduced the CRSP mutual fund database, com-
piled originally by Mark Carhart, into the academic research market.
Starting in about 1994, several databases on hedge fund returns and
characteristics became available to academic researchers.
This paper examines some of the initiatives that are currently under way around the world to assist
and encourage pension funds to help finance green growth projects. It is drafted with a view to inform
current OECD work on engaging the private sector in financing green growth. Different financing
mechanisms are outlined, and suggestions made as to what role governments in general, and pension fund
regulatory and supervisory authorities in particular, can play in supporting pension funds investment in this
There is also a good dataset for open-end real estate funds. Over the last 10
years, investors in this asset class have been able to achieve a higher average
annual return than on investments in equity funds (see Fig. 16). However,
compared with most bond funds, open-end real estate funds come off worse.
This relationship has also generally been maintained over longer periods of up
to 20 years: however it is probably also be affected by the poor performance of
the stock market in the last few years. On a 30-year average, equity funds with
an investment focus in Germany...