Income Fluctuations and Firm Choice

2020 ◽  
pp. 1-29
Author(s):  
Scott R. Baker ◽  
Brian Baugh ◽  
Lorenz Kueng
Keyword(s):  
Research And Development ◽  
Labor Demand ◽  
Labor Intensity ◽  
Firm Risk ◽  
Level Data ◽  
Transaction Level ◽  
The Universe ◽  
Income Fluctuations

Abstract How households shift spending across firms in response to income fluctuations is an important source of firm risk. Using transaction-level data, we study how households interact with the universe of retailers following income changes. We find that income increases within and across households result in substitution toward retailers in a category that are higher quality; smaller; more profitable; and have higher labor intensity, research and development (R&D) intensity, and equity betas. Although not all shifts are economically large, they do not average out across retailers. Thus, retailer choice has implications for key financial and macroeconomic outcomes, such as aggregate profitability and labor demand.

What's Happening to Profits at Cazenovia Creations?

2013 ◽  
Vol 8 (1) ◽  
pp. 24-29 ◽  
Author(s):  
Margaret Garnsey ◽  
Andrea Hotaling
Keyword(s):  
Financial Analysis ◽  
Financial Statements ◽  
Internal Controls ◽  
Net Income ◽  
Database Query ◽  
Microsoft Access ◽  
Level Data ◽  
Query Tool ◽  
Transaction Level

ABSTRACT In this case, students assume the role of an accounting professional asked by a client to investigate why net income is not as strong as expected. The students must first analyze a set of financial statements to identify areas of possible concern. After determining the areas to investigate, the students use a database query tool to see if they can determine causes by examining transaction level data. Finally, the students are asked to professionally communicate their findings and recommendations to their client. The case provides students with experience in using query-based approaches to answering business questions. It is appropriate for students with basic query and financial analysis skills and knowledge of internal controls. A Microsoft Access database with transaction details for the final seven months of the current year as well as financial statements for the current and prior year are provided.

scholarly journals R&D offshoring and home industry productivity

2019 ◽  
Vol 28 (6) ◽  
pp. 1497-1513 ◽  
Author(s):  
Gaétan de Rassenfosse ◽  
Russell Thomson
Keyword(s):  
Research And Development ◽  
Host Country ◽  
Tax Policy ◽  
Home Country ◽  
Oecd Countries ◽  
Technological Capabilities ◽  
Industry Level ◽  
Level Data ◽  
Industrial Productivity ◽  
Industry Level Data

Abstract Offshoring research and development (R&D) commonly invokes concerns regarding the loss of high value jobs and a hollowing out of technological capabilities, but it can also benefit domestic firms by enabling them to tap into the global technological frontier. We study the effect of R&D offshoring on industrial productivity in the home country using industry-level data for 18 OECD countries over a 26-year period. Simultaneity between productivity and R&D offshoring is addressed by using foreign tax policy as an instrument for offshored R&D. We show that R&D offshoring contributes positively to productivity in the home country, irrespective of the host country destination.

The Research Progress and Prospect of Pennisetum sp. (Giant Juncao) Planting Working Mechanism

2014 ◽  
Vol 641-642 ◽  
pp. 1093-1098 ◽  
Author(s):  
Xiang Ya Tong ◽  
Shu He Zheng ◽  
Da Peng Ye ◽  
Jin Jun Xie ◽  
Zhou Zhu
Keyword(s):  
Research And Development ◽  
Research Method ◽  
Virtual Prototype ◽  
Research Progress ◽  
Labor Intensity ◽  
Working Mechanism ◽  
Virtual Prototype Technology

With the continuous expansion of Pennisetum sp.(Giant Juncao) planting acreage, Pennisetum sp. entire production mechanization become the inevitable trend of industrialization in order to improve Pennisetum sp. productivity and reduce labor intensity of farmers. This paper describes the value of application and promotion of the Pennisetum sp. Planting. In view of various working mechanism of Pennisetum sp. planting equipment, the situation quo of Pennisetum sp. planting equipment was summarized, the problems of planting working mechanism on the research and development were analyzed. It is indicated that a research method which was suitable for Pennisetum sp. hillside planting equipment based on the virtual prototype technology. The prospect of further research in this field was proposed.

scholarly journals ADVERTISING, RESEARCH AND DEVELOPMENT, AND CAPITAL MARKET RISK: HIGHER RISK FIRMS VERSUS LOWER RISK FIRMS

2012 ◽  
Vol 13 (4) ◽  
pp. 724-744 ◽  
Author(s):  
Miao-Ling Chen ◽  
Chi-Lu Peng ◽  
An-Pin Wei
Keyword(s):  
Research And Development ◽  
Stock Returns ◽  
Capital Market ◽  
Lower Risk ◽  
Idiosyncratic Risk ◽  
Senior Management ◽  
Limited Resources ◽  
Advertising Research ◽  
Senior Executives ◽  
Firm Risk

This study examines how a firm's advertising and R&D affects the firm's β-risk and idiosyncratic risk, which are metrics of interest to both finance executives and senior management. Due to the existence of a non-normal and heteroscedasticity dataset, we use quantile regression to analyze the sample to understand the full behavior of our non-normally distributed datapoints. The evidence of this study shows that: (1) Advertising is significantly associated with lower β-risk for firms with lower, median and higher β-risk. (2) R&D significantly increases β-risk for firms with median and higher β-risk firms. (3) Advertising is significantly associated with lower idiosyncratic risk for firms with higher idiosyncratic risk. (4) R&D is significantly associated with higher idiosyncratic risk for firms with median and higher idiosyncratic risk. In summary, our evidence shows that both advertising and R&D have a stronger effect on firms with higher β- and idiosyncratic risk than on those with lower β- and idiosyncratic risk, respectively. Our findings are useful to help both management executives and investors. Firm managers can allocate limited resources more efficiently to reduce their firm risk; investors could exert their influence on firm's senior executives to make decisions that are beneficial to stock returns.

The Research and Development of the Coal Mine Underground Drainage Equipment Automatic Control System

2014 ◽  
Vol 1049-1050 ◽  
pp. 1038-1041
Author(s):  
Zhang Meng ◽  
Tao Zhu Feng ◽  
Guo Feng
Keyword(s):  
Control System ◽  
Service Life ◽  
Research And Development ◽  
Coal Mine ◽  
Mine Drainage ◽  
Drainage System ◽  
Labor Intensity ◽  
Relay Control ◽  
Coal Mine Drainage ◽  
Plc Control

The coal mine drainage equip ment plays an important role to make the production normally and orderly. At present, domestic coal mine drainage system implement manual monitoring, namely the traditional relay control method.Feature of this method is that a large labor intensity, low reliability and stability,and complicated control circuit,it has not adapted to the needs of the development of coal.In this paper, design of the automatic drainage system is to make up for the shortage of the traditional relay control,it adopts PLC control with a combination of PC monitor to improve the safety of the work,and has a long service life, convenient maintenance, etc.

scholarly journals The Impact of Labor Demand on Time to the Doctorate

2016 ◽  
Vol 11 (1) ◽  
pp. 43-69 ◽  
Author(s):  
Jeffrey A. Groen
Keyword(s):  
Social Sciences ◽  
Empirical Investigation ◽  
Labor Demand ◽  
Annual Number ◽  
Time To Degree ◽  
Cyclical Variation ◽  
Expected Time ◽  
Level Data ◽  
The Impact ◽  
Over Time

The goal of this paper is to estimate the impact of labor demand on time to the doctorate. Empirical investigation of this relationship in previous research was hampered by the difficulty of measuring labor demand. I construct a measure of labor demand in seven fields in the humanities and social sciences based on the annual number of job listings from 1975 to 2005. My empirical strategy relates variation over time in the number of job listings within a field to the timing of completion using student-level data on all doctorates awarded in these fields by U.S. universities. Estimates indicate that the number of job listings is not correlated with expected time to degree. This finding implies that cyclical variation in labor demand is not responsible for changes in time to degree within fields.

scholarly journals Determining Returns to Storage: Does Data Aggregation Matter?

2007 ◽  
Vol 39 (3) ◽  
pp. 571-579 ◽  
Author(s):  
Joni M. Klumpp ◽  
B. Wade Brorsen ◽  
Kim B. Anderson
Keyword(s):  
Data Aggregation ◽  
Aggregate Data ◽  
Grain Elevators ◽  
Level Data ◽  
The Mean ◽  
Transaction Level

Aggregate data are commonly used to determine returns to storage. However, recent studies have shown that aggregating data may lead to underestimated returns. This article compares aggregate and elevator data from Oklahoma to determine if aggregate data underestimate returns. We find no difference between the mean returns estimated with aggregate data and the mean returns estimated with transaction level data from grain elevators in Oklahoma.

The Profitability of Revenue-Based Quotas Under Price Negotiation

2021 ◽  
Author(s):  
Pranav Jindal ◽  
Peter Newberry
Keyword(s):  
Reduced Form ◽  
Demand Model ◽  
Total Compensation ◽  
Price Negotiation ◽  
Level Data ◽  
Bargaining Position ◽  
Transaction Level ◽  
The Impact

We study how the presence of a monthly revenue-based quota impacts a retailer’s profits when prices are negotiated by a salesperson. Using transaction level data for refrigerators, we first provide reduced-form evidence that prices are impacted by the quota: the negotiated discounts are approximately 3.8% higher if the salesperson is 10% closer to reaching the quota in the final week of the month. Guided by this result, we specify and estimate a demand model that identifies the impact of the quota through two forces: the effort salespeople expend in order to sell the product and their bargaining position. Results indicate that, as salespeople get closer to reaching their quota, their effort increases regardless of the week, and their bargaining position weakens (i.e., they offer lower prices), but only in the final week of the month. We use these results to analyze the impact of the quota and find that, holding salespeoples’ total compensation fixed, eliminating quotas results in 8% lower profit for the retailer. This decrease stems primarily from the reduction in effort that outweighs any benefit from strengthening the salespeoples’ bargaining position. The change in profit is economically meaningful because eliminating both price negotiation (i.e., moving to fixed pricing) and the quota results in an up to 36% reduction in profit. This paper was accepted by Matthew Shum, marketing.

JD.com: Transaction-Level Data for the 2020 MSOM Data Driven Research Challenge

2020 ◽  
Author(s):  
Max Shen ◽  
Christopher S. Tang ◽  
Di Wu ◽  
Rong Yuan ◽  
Wei Zhou
Keyword(s):  
Econometric Models ◽  
Data Driven ◽  
Level Data ◽  
Research Questions ◽  
Transaction Level ◽  
Research Challenge ◽  
Transactional Data

To support the 2020 MSOM Data Driven Research Challenge, JD.com, China’s largest retailer, offers transaction-level data to MSOM members for conducting data-driven research. This article describes the transactional data associated with over 2.5 million customers (457,298 made purchases) and 31,868 stock keeping units (SKUs) over the month of March in 2018. We also present potential research questions suggested by JD.com. Researchers are welcome to develop econometric models or data-driven models using this database to address some of the suggested questions or examine their own research questions.

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