scholarly journals Why Do Distilleries Produce Multiple Ages of Whisky?

2019 ◽  
Vol 14 (01) ◽  
pp. 26-47 ◽  
Author(s):  
Ian B. Page
Keyword(s):  
Theoretical Model ◽  
Empirical Analysis ◽  
Product Line ◽  
Product Lines ◽  
Market Conditions ◽  
Different Ages ◽  
Over Time ◽  
Jel Classifications

AbstractVintage goods are a unique set of goods that accrue value over time. Unlike producers for many other vintage goods, Scottish distilleries often mature their stocks to different ages and sell a product line that varies significantly in quality. This article develops a theoretical model to examine this maturation strategy and identify market conditions under which a distillery would produce multiple ages of whisky. An empirical analysis of distilleries’ product lines confirms results from the model and highlights the determinants of variety and substitutability between brands. (JEL Classifications: D43, L13, L66)

Interim Reporting Frequency and the Mispricing of Accruals

2018 ◽  
Vol 32 (3) ◽  
pp. 29-47
Author(s):  
Shou-Min Tsao ◽  
Hsueh-Tien Lu ◽  
Edmund C. Keung
Keyword(s):  
Financial Reporting ◽  
Stock Prices ◽  
Data Availability ◽  
Financial Reports ◽  
Regulatory Changes ◽  
Sample Composition ◽  
Reporting Frequency ◽  
Over Time ◽  
Jel Classifications ◽  
Accrual Mispricing

SYNOPSIS This study examines the association between mandatory financial reporting frequency and the accrual anomaly. Based on regulatory changes in reporting frequency requirements in Taiwan, we divide our sample period into three reporting regimes: a semiannual reporting regime from 1982 to 1985, a quarterly reporting regime from 1986 to 1987, and a monthly reporting regime (both quarterly financial reports and monthly revenue disclosure) from 1988 to 1993. We find that although both switches (from the semiannual reporting regime to the quarterly reporting regime and from the quarterly reporting regime to the monthly reporting regime) hasten the dissemination of the information contained in annual accruals into stock prices and reduce annual accrual mispricing, the switch to monthly reporting has a lesser effect. Our results are robust to controlling for risk factors, transaction costs, and potential changes in accrual, cash flow persistence, and sample composition over time. These results imply that more frequent reporting is one possible mechanism to reduce accrual mispricing. JEL Classifications: G14; L51; M41; M48. Data Availability: Data are available from sources identified in the paper.

scholarly journals Moral Hazard and Claims Deterrence in Private Disability Insurance

2014 ◽  
Vol 6 (4) ◽  
pp. 110-141 ◽  
Author(s):  
David Autor ◽  
Mark Duggan ◽  
Jonathan Gruber
Keyword(s):  
Moral Hazard ◽  
Empirical Analysis ◽  
Time Variation ◽  
Rate Increase ◽  
Disability Insurance ◽  
Severe Disabilities ◽  
Replacement Rate ◽  
Waiting Period ◽  
Over Time

Exploiting within-firm, over-time variation in plan parameters for nearly 10,000 Long Term Disability (LTD) policies held by US employers, we present the first empirical analysis of the determinants of private LTD spells. We find that a shorter waiting period and a higher replacement rate increase the incidence of LTD spells. Sixty percent of the latter effect is due to the mechanical censoring of shorter spells, with the remainder due to the deterrence of spells that would have continued beyond the waiting period. Deterrence is driven primarily by a reduction in the incidence of shorter duration spells and less severe disabilities. (JEL D82, G22, J28, J32)

Managing Nascent Digital Competition: An Assessment of Australian Merger Law under Conditions of Radical Uncertainty

2021 ◽  
Vol 44 (3) ◽  
Author(s):  
Joshua Sinn
Keyword(s):  
Future Market ◽  
Market Conditions ◽  
Rule Based ◽  
National Competition ◽  
Radical Uncertainty ◽  
Experimentalist Governance ◽  
Regulatory Model ◽  
Start Ups ◽  
Over Time

The Australian Competition and Consumer Commission is among several national competition regulators that have recently expressed concerns about the inability of existing merger law to address competition issues that arise from acquisitions of digital start-ups. The unique characteristics of rapidly evolving digital markets present unprecedented challenges for traditional merger regimes that rely on predictions of future market conditions to justify intervention. This article argues that Australian merger law is unable to adequately address the uncertain risks presented by acquisitions of nascent competitors in digital markets. It further argues that traditional rule-based merger regimes are unable to properly navigate conditions of extreme uncertainty. An alternative regulatory model that is explored in detail is experimentalist governance, which promises to allow regulators and firms to respond to radical uncertainty by recursively crafting solutions to problems that emerge in dynamic digital markets over time.

Occupy in Ireland: Impacts on activists and subsequent protest

2017 ◽  
Vol 25 (3) ◽  
pp. 250-273
Author(s):  
Anna Szolucha
Keyword(s):  
Empirical Analysis ◽  
Empirical Processes ◽  
Change Over Time ◽  
The Individual ◽  
The Impact ◽  
Over Time

I explore the impact that Occupy in Ireland had on subsequent campaigns and the lives of some of its core activists and analyse the interpretative processes through which they evaluated and modified the lessons and tactics of the protest. The picture that emerges from this empirical analysis is inherently complex and transient. It shows how the symbolic associations and framing of the encampments evolved and stalled the diffusion of their most recognisable practices and tactics such as assemblies. This observation highlights the importance of studying the empirical processes that explain how the interpretations of movements change over time, influencing the potential for the diffusion of tactics from one movement to another. Additionally, movement–movement influence may be constructed subjectively and hence, the individual engagement trajectories of activists can inform the analysis of how past protest influences future campaigns. Even though the practices and tactics that were most characteristic of the movement did not diffuse to subsequent protests, the analysis of the impacts of Occupy in Ireland suggests that the encampments functioned as a space for political training and experimentation which may have durable effects for future protest as well as its participants long after they left Occupy.

scholarly journals Fragment-oriented programming: a framework to design and implement software product line domain components

DYNA ◽  
2018 ◽  
Vol 85 (207) ◽  
pp. 74-83 ◽  
Author(s):  
Daniel Correa ◽  
Raúl Mazo ◽  
Gloria Lucia Giraldo Goméz
Keyword(s):  
Software Product Line ◽  
Preliminary Evidence ◽  
Product Line ◽  
Software Systems ◽  
Software Components ◽  
Product Lines ◽  
Reusable Software ◽  
Software Products ◽  
Manual Intervention ◽  
Software Product

Software product lines facilitate the industrialization of software development. The main goal is to create a set of reusable software components for the rapid production of a software systems family. Many authors have proposed different approaches to design and implement the components of a product line. However, the construction and integration of these components continue to be a complex and time-consuming process. This paper introduces Fragment-oriented programming (FragOP), a framework to design and implement software product line domain components, and derive software products. FragOP is based on: (i) domain components, (ii) fragmentations points and (iii)fragments. FragOP was implemented in the VariaMos tool and using it we created a clothing stores software product line. We derivedfive different products, integrating automatically thousands of lines of code. On average, only three lines of code were manually modified;which provided preliminary evidence that using FragOP reduces manual intervention when integrating domain components.

scholarly journals Research on Community Fresh O2O Purchase Intention Based on Customer Perceived Value

2020 ◽  
Vol 3 (5) ◽  
Author(s):  
Lixing Zhou
Keyword(s):  
Regression Analysis ◽  
Theoretical Model ◽  
Empirical Analysis ◽  
Purchase Intention ◽  
Perceived Value ◽  
Analysis Method ◽  
Social And Emotional ◽  
Customer Perceived Value ◽  
Intermediary Role ◽  
Emotional Value

Based on the theory of customer perceived value, this paper makes an empirical analysis on the purchase intention of community fresh O2O, and proposes the customer perceived value concept including result, program, service, social and emotional value. At the same time, the intermediary variable of consumption attitude is put forward and the theoretical model constructed. It is verified that perceived value significantly influences purchase intention and consumption attitude, and plays an intermediary role between them by regression analysis method. This detailed study on the mechanism of perceived value influencing purchase intention through consumption attitude is of great guidance value.

scholarly journals Feature Model Configuration Based on Two-Layer Modelling in Software Product Lines

2019 ◽  
Vol 9 (4) ◽  
pp. 2648
Author(s):  
Elham Darmanaki Farahani ◽  
Jafar Habibi
Keyword(s):  
Product Line ◽  
Feature Model ◽  
Functional Requirements ◽  
Product Lines ◽  
Software Products ◽  
Model Configuration ◽  
Software Product ◽  
Software And Hardware ◽  
Application Requirements

The aim of the Software Product Line (SPL) approach is to improve the software development process by producing software products that match the stakeholders’ requirements. One of the important topics in SPLs is the feature model (FM) configuration process. The purpose of configuration here is to select and remove specific features from the FM in order to produce the required software product. At the same time, detection of differences between application’s requirements and the available capabilities of the implementation platform is a major concern of application requirements engineering. It is possible that the implementation of the selected features of FM needs certain software and hardware infrastructures such as database, operating system and hardware that cannot be made available by stakeholders. We address the FM configuration problem by proposing a method, which employs a two-layer FM comprising the application and infrastructure layers. We also show this method in the context of a case study in the SPL of a sample E-Shop website. The results demonstrate that this method can support both functional and non-functional requirements and can solve the problems arising from lack of attention to implementation requirements in SPL FM selection phase.

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