A Macroeconomic Analysis Of Inventory/Sales Ratios

2011 ◽  
Vol 1 (10) ◽  
Author(s):  
William M. Bassin ◽  
Michael T. Marsh ◽  
Stefanie Walitzer
Keyword(s):  
Business Cycles ◽  
Financial Analysts ◽  
Investment Decisions ◽  
Macro Level ◽  
Private Institutions ◽  
Related Research ◽  
Macroeconomic Analysis ◽  
The Relationship ◽  
The U.S ◽  
Inventory Behavior

Metzlers (1941) research on the relationship between inventory and business cycles initiated serious interest in inventory behavior and its effect on the behavior of firms. A flurry of related research took place in the following two decades. Research of the time clearly demonstrated that, at a macro level, the inventory behaviors are significant features in business cycles. One measure of inventory behavior introduced and analyzed was the inventory-to-sales ratio. We continue to believe that understanding of inventory behavior at both the macro and microeconomic levels is a prerequisite to understanding factors that determine a firms success, and that analysis of the inventory-to-sales ratio is important component of inventory behavior. The U.S. Department of Commerce and other government and private institutions track this ratio and report regularly. Financial analysts use both a company's trend and its comparative value within a sector to make investment decisions.

scholarly journals Editorial: Governance and regulation - Evidence at micro and macro level

2019 ◽  
Vol 8 (2) ◽  
pp. 4-6
Author(s):  
Christos Kallandranis
Keyword(s):  
Stock Market ◽  
Business Cycles ◽  
Tax Policy ◽  
Macro Level ◽  
Municipal Governance ◽  
Digital Disruption ◽  
The Relationship ◽  
It Skills

The recent volume is devoted to the issues of tax policy, competitiveness, digital disruption, the IT skills of graduates, the relationship between stock market and business cycles and municipal governance.

What Inventory Behavior Tells Us About How Business Cycles Have Changed

2014 ◽  
Author(s):  
Thomas Lubik ◽  
Pierre-Daniel G. Sarte ◽  
Felipe F. Schwartzman
Keyword(s):  
Business Cycles ◽  
Inventory Behavior

U.S.-RUSSIAN RELATIONS IN THE SHADOW OF THE 1999 KOSOVO WAR

2020 ◽  
Vol 18 (1/2020) ◽  
pp. 11-31
Author(s):  
Mladen Lisanin
Keyword(s):  
United Nations Security Council ◽  
European Security ◽  
Security Relations ◽  
War Experience ◽  
Nato Bombing ◽  
The Cold War ◽  
Kosovo War ◽  
The Relationship ◽  
Out Of Area ◽  
The U.S

The paper examines the changing relations between the U.S. and Russia since the end of the twentieth century, shaped by the experience of NATO’s war with Federal Republic of Yugoslavia over Kosovo. The first decade after the termination of the Cold War brought about the American ‘unipolar moment’, and with it the attempt of Russian political elites to approach the unipole and find a sustainable modus vivendi with it: the relationship between Yeltsin and Clinton administrations is a vivid example of such endeavors. At the same time, policies such as NATO expansion induced suspicion on the Russian side with regard to the possibilities of achieving an understanding and allowing Russia to become a legitimate part of European security architecture. When, in March of 1999, NATO began with the attacks against FRY (a country perceived as traditionally friendly towards Russia) without the consent of the United Nations Security Council, a long shadow was cast over the prospects of a Russian – American rapprochement. All subsequent episodes of cooperation and competition between Russia and the U.S. have been observed through the lens shaped by the Kosovo war. Drawing from contemporary Russian and western academic literature and memoir materials (Primakov, Guskova, Narochnitska, Baranovsky, Tsygankov, Sushenkov; Wohlforth, Walt, Clarke, Hill, Galen Carpenter et al.) and building upon the traditional realist concepts of great power competition and balancing, the author assesses the development of U.S.-Russian security relations in the context the Kosovo war experience. It is argued that, in addition to being an attack against a country perceived as a traditional Russian friend or protégé, NATO bombing of FRY in 1999 posed a major concern to Russia because it was a signal that the alliance was ready to change its strategic posture and engage in out-of-area operations.

Board of Director Characteristics, Institutional Ownership, and Fraud: Evidence from Australia

2004 ◽  
Vol 23 (2) ◽  
pp. 105-117 ◽  
Author(s):  
Vineeta D. Sharma
Keyword(s):  
Research Evidence ◽  
Institutional Ownership ◽  
Board Of Director ◽  
Composition And Structure ◽  
High Incidence ◽  
The Board Of Directors ◽  
Director Characteristics ◽  
The Relationship ◽  
The U.S

Due to the high incidence of fraud in Australia, regulatory reports suggest strengthening the monitoring role of the board of directors (BOD). These reports recommend greater independence and no duality (chairperson of the BOD should not be the CEO) on the BOD. While there is no Australian evidence, research evidence in the U.S. supports these suggested reforms. It is not clear whether the research evidence observed in the U.S. will generalize to the Australian setting because of contextual differences. This study extends the U.S. findings to the Australian context and investigates the relationship between two attributes of the BOD, independence and duality, and fraud. In addition, I examine whether institutional ownership plays a role in the context of fraud. The more highly concentrated institutional ownership in Australia suggests the presence of some relationship. Using a matched sample of fraud and no-fraud firms from 1988–2000, I find that as the percentage of independent directors and the percentage of independent institutional ownership increases, the likelihood of fraud decreases. As expected, the results show a positive relationship between duality and the likelihood of fraud. These results support the call for strengthening the composition and structure of the BOD in Australia.

scholarly journals Nonreligious Employees’ Perceptions of Microaggressions and Their Relationship With Job Satisfaction as Moderated by Calling

2021 ◽  
pp. 089484532110133
Author(s):  
Jessica N. Schultz ◽  
Melanie E. Leuty ◽  
Emily Bullock-Yowell ◽  
Richard Mohn
Keyword(s):  
Job Satisfaction ◽  
Vocational Guidance ◽  
Person Organization Fit ◽  
Post Hoc ◽  
The Relationship ◽  
The U.S

Workplace microaggressions are related to person–organization fit (P-O fit) and job satisfaction. Additionally, P-O fit and calling predict job satisfaction. Given the religious connotations of calling, research has excluded study of these relationships in nonreligious samples, a growing segment of the U.S. population. To address this, it was predicted that P-O fit would mediate the relationship between microaggressions and job satisfaction, and calling would moderate the relationship between microaggressions and P-O fit. In a sample of 296 nonreligious employed adults, microaggressions predicted job satisfaction, while calling predicted P-O fit and job satisfaction; however, P-O fit did not mediate these relationships, and calling did not moderate microaggressions and P-O fit. Post hoc analyses revealed that calling moderated microaggressions and job satisfaction. Implications for research and vocational guidance with nonreligious individuals are discussed.

Heuristic biases in investment decision-making and perceived market efficiency

2018 ◽  
Vol 10 (1) ◽  
pp. 85-110 ◽  
Author(s):  
Syed Zulfiqar Ali Shah ◽  
Maqsood Ahmad ◽  
Faisal Mahmood
Keyword(s):  
Financial Markets ◽  
Market Efficiency ◽  
Negative Impact ◽  
Investment Decisions ◽  
Sampling Technique ◽  
Investment Strategy ◽  
Individual Investors ◽  
Content Type ◽  
Specific Investment ◽  
The Relationship

Purpose This paper aims to clarify the mechanism by which heuristics influences the investment decisions of individual investors, actively trading on the Pakistan Stock Exchange (PSX), and the perceived efficiency of the market. Most studies focus on well-developed financial markets and very little is known about investors’ behaviour in less developed financial markets or emerging markets. The present study contributes to filling this gap in the literature. Design/methodology/approach Investors’ heuristic biases have been measured using a questionnaire, containing numerous items, including indicators of speculators, investment decisions and perceived market efficiency variables. The sample consists of 143 investors trading on the PSX. A convenient, purposively sampling technique was used for data collection. To examine the relationship between heuristic biases, investment decisions and perceived market efficiency, hypotheses were tested by using correlation and regression analysis. Findings The paper provides empirical insights into the relationship of heuristic biases, investment decisions and perceived market efficiency. The results suggest that heuristic biases (overconfidence, representativeness, availability and anchoring) have a markedly negative impact on investment decisions made by individual investors actively trading on the PSX and on perceived market efficiency. Research limitations/implications The primary limitation of the empirical review is the tiny size of the sample. A larger sample would have given more trustworthy results and could have empowered a more extensive scope of investigation. Practical implications The paper encourages investors to avoid relying on heuristics or their feelings when making investments. It provides awareness and understanding of heuristic biases in investment management, which could be very useful for decision makers and professionals in financial institutions, such as portfolio managers and traders in commercial banks, investment banks and mutual funds. This paper helps investors to select better investment tools and avoid repeating expensive errors, which occur due to heuristic biases. They can improve their performance by recognizing their biases and errors of judgment, to which we are all prone, resulting in a more efficient market. So, it is necessary to focus on a specific investment strategy to control “mental mistakes” by investors, due to heuristic biases. Originality/value The current study is the first of its kind, focusing on the link between heuristics, individual investment decisions and perceived market efficiency within the specific context of Pakistan.

The relationship between entrepreneurial activity and domestic gross state in-migration patterns in the U.S

2020 ◽  
Vol 52 (41) ◽  
pp. 4542-4556 ◽  
Author(s):  
Richard J. Cebula ◽  
Malissa L. Davis ◽  
James V. Koch ◽  
James William Saunoris
Keyword(s):  
Entrepreneurial Activity ◽  
Migration Patterns ◽  
The Relationship ◽  
The U.S
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