scholarly journals Quality Investing and Pricing Strategies by Startups: Impacts of Demand Uncertainties and Capital Constraint

2018 ◽  
Vol 2018 ◽  
pp. 1-13
Author(s):  
Bing Xia ◽  
Richard Y. K. Fung ◽  
Ju'e Guo
Keyword(s):  
Pricing Strategies ◽  
Stage Model ◽  
Price Setting ◽  
Deterministic Case ◽  
Bankruptcy Risk ◽  
Positive Direction ◽  
Trade Off ◽  
Survival Threshold ◽  
The Mean ◽  
Market Shocks

Investing in product quality for future growths or conserving cash flow to avoid bankruptcy is an important trade-off faced by many capital-constrained startups. Focusing on the trade-off, this paper proposes a two-stage model where a startup firm must earn profit above the survival threshold by the end of every stage. Considering impacts of the uncertainty of demand responsiveness to quality (DRQ), market shocks, and survival threshold, a hedge with price setting and quality investing is established against the bankruptcy risk. Besides, this paper stresses the necessity of identifying the operational decisions of startups under both profit-seeking and survival-seeking objectives. Results illustrate that, under stochastic environment, the profit-seeking startup makes conservative (aggressive) investment on quality by setting lower (higher) price and investing in lower (higher) quality than the deterministic case, while the survival-seeking startup always sets its price linked to quality in positive direction. In addition, the profit-seeking startup always improves its investment on quality when either the mean or the variance of DRQ increase, while the survival-seeking startup reduces its investment when either the mean of DRQ increases to a certain level or the variance of DRQ increases. Other factors are also examined. Finally, this paper provides the startup managers some guidance on the quality investing strategy under capital constraints.

Nitrogen use efficiency: does a trade-off exist between the N productivity and the mean residence time within species?

2008 ◽  
Vol 56 (3) ◽  
pp. 272 ◽  
Author(s):  
Zhi Y. Yuan ◽  
Han Y. H. Chen ◽  
Ling H. Li
Keyword(s):  
Residence Time ◽  
Nitrogen Use Efficiency ◽  
Mean Residence Time ◽  
Negative Relationship ◽  
Controlled Experiments ◽  
Nitrogen Use ◽  
Trade Off ◽  
N Supply ◽  
Use Efficiency ◽  
The Mean

Nitrogen use efficiency (NUE) can be divided into two components, i.e. N productivity (A) and the mean residence time (MRT). Controlled experiments indicate that there is not a trade-off between A and MRT within species, but this theory has not been well tested in field conditions. Here, we studied the A, MRT and NUE of Stipa krylovii Roshev. in a grassland over 4 years of N fertilisation experimentation. The three parameters (A, MRT and NUE) were significantly related to soil N supply and there was a negative relationship between A and MRT within this species (r = –0.775, P < 0.05), i.e. plants with higher A had lower MRT. Our results showed a trade-off between A and MRT within this Stipa species and this observed trade-off was attributed to different responses of A and MRT to soil fertility.

scholarly journals Do DJIA Firms Reflect Stationary Debt Ratios?

Economies ◽  
2020 ◽  
Vol 8 (4) ◽  
pp. 76
Author(s):  
Feng-Li Lin
Keyword(s):  
Capital Structure ◽  
Stationary Processes ◽  
Debt Ratio ◽  
Pecking Order ◽  
Trade Off ◽  
Listed Firms ◽  
Growth Opportunity ◽  
Dow Jones Industrial Average ◽  
The Mean ◽  
The Stability

To form optimum firm capital structure strategies to face unanticipated economic events, firm managers should understand the stability of a firm’s capital structure. The aim of this research was to study whether the debt ratio is stationary in listed firms on the Dow Jones Industrial Average (DJIA). Two vital capital structure concepts regarding pecking order and trade-off theory are fairly contradictory. Using opposing theoretical contexts, the Sequential Panel Selection Method apparently categorizes which and how many series are stationary processes in the panel. This method was used to test the mean reverting properties of the 25 companies listed on Dow Jones Industrial Average between 2001 and 2017 in this study, which is expected to fill the current gap in the literature. The overall results show that stationary debt ratios exist in 10 of the 25 studied firms, supporting the trade-off theory. Moreover, the 10 firms utilizing trade-off theory are affected by firm size, profitability, growth opportunity, and dividend payout ratio. These results provide vital information for firms to certify strategies to optimize capital structure.

Trade-Off between Achromatic Colour and Perceived Illumination as Revealed by the Use of Pseudoscopic Inversion of Apparent Depth

Perception ◽  
1994 ◽  
Vol 23 (9) ◽  
pp. 1007-1023 ◽  
Author(s):  
Alexander Logvinenko ◽  
Galina Menshikova
Keyword(s):  
Apparent Depth ◽  
Bisection Method ◽  
Trade Off ◽  
Classical Form ◽  
Inverse Proportion ◽  
The Mean ◽  
Contrast Range

The albedo hypothesis was tested under apparent transformations of perceived illumination and achromatic colour induced by pseudoscopic inversion of apparent depth. Looking through a pseudoscope made a cone attached to a vertical white screen look like a conical hole in the screen. This in turn caused the shadow which the now ‘invisible’ cone cast on the screen to change its appearance and to look like a darkly pigmented area. The darkness of the shadow before the pseudoscopic reversal and greyness of colour afterwards were measured by means of psychophysical scales for darkness and greyness set by the bisection method. Contrast of the shaded area was varied from 0.17 to 0.96 in 7 steps, the mean illuminance of the screen having been maintained at 40 lx. Although the albedo hypothesis in its classical form was not confirmed, it was found that darkness of shadow varied linearly in inverse proportion to greyness of colour within the entire contrast range. This is in agreement with the hypothesis that achromatic colour and perceived illumination are inversely proportional to each other while the retinal illumination is constant.

scholarly journals Patient willingness to be seen by a physician associate in Ireland

2018 ◽  
Vol 4 (2) ◽  
pp. 41 ◽  
Author(s):  
Pauline Joyce ◽  
Richard Arnett ◽  
Arnold Hill ◽  
Roderick S. Hooker
Keyword(s):  
Patient Preference ◽  
Medical Condition ◽  
Wait Time ◽  
Mixed Methods Study ◽  
Medical Provider ◽  
Specific Patient ◽  
Trade Off ◽  
Knowing That ◽  
The Mean ◽  
Gender Specific

Background: The physician associate (PA) role was piloted in Dublin, Ireland between 2015 and 2017. However, the concept of a PA and the acceptance of their role in Ireland had not been explored.Objective: To investigate the willingness of Irish citizens to be seen by a PA based on medical scenarios in a typical clinical setting.Design: A mixed methods study was undertaken. A preference survey, with three medical scenarios, gave participants a choice to be treated by a PA or a doctor, with two time trade-off options offered. Responses were supported with qualitative text. Four hundred people were invited to participate as surrogate patients.Setting and participants: In 2017 a total of 270 respondents took part in the study (67.5%) in two hospitals (one private and one public) in Dublin. The mean age was 60; male (n = 142) and female (n = 128) respondents.Findings: In total, 95% of the respondents chose to see a PA over a doctor based on the scenarios presented and a wait time of 30 minutes. Wait time, trust, competency and the severity or seriousness of the medical condition were categorized into three themes for choosing the PA over the doctor. The “surrogate patient” decisions made by this sample were influenced by knowing that the PA is supervised and can check decisions with his/her supervizing physician.Conclusion: These findings are consistent with studies carried out in other countries where willingness to be seen by a PA is neither age nor gender specific. Patient preference seems to concur around the importance of trust and confidence in the medical provider.

SOME REMARKS ON MEAN-VARIANCE HEDGING FOR DISCONTINUOUS ASSET PRICE PROCESSES

2005 ◽  
Vol 08 (04) ◽  
pp. 425-443 ◽  
Author(s):  
TAKUJI ARAI
Keyword(s):  
Asset Price ◽  
Jump Diffusion ◽  
Diffusion Models ◽  
Continuous Case ◽  
Martingale Measure ◽  
Trade Off ◽  
One Dimensional ◽  
The Mean ◽  
Duality Approach ◽  
Mean Variance

Mean-variance hedging for the discontinuous semimartingale case is obtained under some assumptions related to the variance-optimal martingale measure. In the present paper, two remarks on it are discussed. One is an extension of Hou–Karatzas' duality approach from the continuous case to discontinuous. Another is to prove that there is the consistency with the case where the mean-variance trade-off process is continuous and deterministic. In particular, one-dimensional jump diffusion models are discussed as simple examples.

scholarly journals Evidence for a two-stage model of microbial infection

1968 ◽  
Vol 66 (2) ◽  
pp. 273-280 ◽  
Author(s):  
G. G. Meynell ◽  
Joan Maw
Keyword(s):  
Standard Error ◽  
Stage Model ◽  
Microbial Infection ◽  
Two Stage ◽  
Second Stage ◽  
Initial Stage ◽  
The Mean ◽  
Pass Through

SUMMARYColony counts on mice given the same number ofSalmonellaalways differ considerably. However, the standard error of the mean log count does not increase after the first 1·5 hr. of infection until the 8th or 10th day. These infections therefore appear to pass through an initial stage lasting a few hours, in which a varying proportion of the inoculum is killed, followed by a prolonged second stage in which the scatter in individual colony counts remains constant.

Inspection of Sheet Materials—Test of Model Predictions

1978 ◽  
Vol 20 (5) ◽  
pp. 521-528 ◽  
Author(s):  
Gabriel Spitz ◽  
Colin G. Drury
Keyword(s):  
Decision Making ◽  
Visual Search ◽  
Stage Model ◽  
High Contrast ◽  
Trade Off ◽  
Low Contrast ◽  
Model Predictions ◽  
Speed Accuracy ◽  
Inspection Task ◽  
Inspection Performance

The two-stage model of inspection performance suggested in a previous paper was tested in laboratory conditions. Four subjects participated in an experiment to estimate the visual search and decision making components of an inspection task using light circular targets of low contrast on a dark empty field. Predicted and measured performance on the inspection task were compared. It was found that the prediction of independence of component tasks and additivity was upheld. In predicting speed/accuracy trade-off, the model's performance was better for the high contrast conditions than for the more difficult low contrast conditions.

scholarly journals Effectiveness of Adaptive Real-Time Closures for Managing Migratory Species in Data-Limited Multispecies Fisheries

2021 ◽  
Vol 34 (4) ◽  
Author(s):  
MASAMI MUNEHARA ◽  
◽  
METHEE KAEWNERN ◽  
PAVAROT NORANARTTRAGOON ◽  
TAKASHI FRITZ MATSUISHI
Keyword(s):  
Real Time ◽  
Fisheries Management ◽  
Single Species ◽  
Management Tool ◽  
Migratory Species ◽  
Sensitive Species ◽  
Trade Off ◽  
Multispecies Fisheries ◽  
Relative Value ◽  
The Mean

Fixed closure (FC) is a standard fisheries management tool for protecting sensitive species or species requiring conservation. However, an FC might not effectively manage migratory species because of the large uncertainties of their migration. Adaptive real-time closure (ARTC) is a tool that updates closure areas according to the latest information. This study aimed to evaluate the effectiveness of ARTC to conserve sensitive species for data-limited fisheries by a series of simulations using migration models with hotspots. In the single species simulation, the conservation ratio for the sensitive species in FC varies widely at greater migration uncertainty. In ARTC, a longer duration of a hotspot resulted in a higher conservation ratio. When the mean duration of hotspots was medium or long, the conservation ratio for the sensitive species was more than 50 % in more than 99 % of the simulation trials. In multispecies fisheries, a clear trade-off was observed between the conservation ratio of sensitive species and other species. ARTC was more effective than whole closure when the proportion of sensitive species was high or without closure when the proportion was low. Conditions in which ARTC was most appropriate were described for hotspot duration, increased numbers of individuals in a hotspot, and the relative value of conservation, representing the ratio of the value of conserving sensitive species to one of catching other species.

scholarly journals Lognormal firing rate distribution reveals prominent fluctuation–driven regime in spinal motor networks

eLife ◽  
2016 ◽  
Vol 5 ◽  
Author(s):  
Peter C Petersen ◽  
Rune W Berg
Keyword(s):  
Neuronal Population ◽  
Output Curve ◽  
Input Output ◽  
Rhythmic Movements ◽  
Trade Off ◽  
Firing Rates ◽  
Spinal Motor ◽  
Rich Diversity ◽  
The Mean ◽  
Lumbar Spinal

When spinal circuits generate rhythmic movements it is important that the neuronal activity remains within stable bounds to avoid saturation and to preserve responsiveness. Here, we simultaneously record from hundreds of neurons in lumbar spinal circuits of turtles and establish the neuronal fraction that operates within either a ‘mean-driven’ or a ‘fluctuation–driven’ regime. Fluctuation-driven neurons have a ‘supralinear’ input-output curve, which enhances sensitivity, whereas the mean-driven regime reduces sensitivity. We find a rich diversity of firing rates across the neuronal population as reflected in a lognormal distribution and demonstrate that half of the neurons spend at least 50 % of the time in the ‘fluctuation–driven’ regime regardless of behavior. Because of the disparity in input–output properties for these two regimes, this fraction may reflect a fine trade–off between stability and sensitivity in order to maintain flexibility across behaviors.

scholarly journals Relationship between Students’ Metacognitive Strategy and Self-Efficacy in Speaking

2016 ◽  
Vol 6 (2) ◽  
pp. 105
Author(s):  
Adam Adam
Keyword(s):  
Self Efficacy ◽  
Strategy Use ◽  
Metacognitive Strategy ◽  
Positive Direction ◽  
Eighth Grade Students ◽  
Medium Level ◽  
The Mean ◽  
The Relationship ◽  
Academic Year ◽  
Speaking Skills

The main purpose of this research is to investigate the relationship between students’ metacognitive strategy and their self-efficicacy in speaking skills. Besides, this study also investigates the overall level of students’ use of metacognitive strategy and the level of their self-efficacy in speaking skills. The sample of this research was the eighth grade students of SMP 26 Batam  in the academic year 2016/2017. The data were collected using questionnaires and were calculated using a Likert Scale. There were three findings of this research. First, The overall level of students’ metacognitive strategy in speaking skills was 3.3. Second, the overall level of students’ self-efficacy in speaking skills was 3.27. Third, there was a positive correlation between students’ metacognitive strategy and their self-efficicacy in speaking skills which was indicated by the correlation coefficient of 0.54. There is a significant correlation between students’ metacognitive strategy and their self-efficacy in speaking skills as indicated by the correlation coeficient of 0.54. There is a positive direction of the correlation as indicated by the correlation coeficient above zero and near to 1. The students’ overall metacognitive strategy use in speaking skills is a medium level as indicated by the mean score of 3.3 The students’ overall self-efficacy in their speaking skills is  a medium level as indicated by the mean score of 3.27. Keywords : metacognitive, self-efficacy, speaking skills

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