Taking risks in investing in the equity market: racial and ethnic differences

Some policy makers and policy analysts have proposed that Social Security should be privatized to enable participants to achieve higher returns through investment in the stock market. How well individual retirees would fare financially under a privatized system largely depends on their decision to invest in the equity market, rather than in other types of investment vehicles. For that reason, it is important to investigate the degree to which minority people are currently investing in this market. This article presents the findings of a study that compared the investment behavior of black and Hispanic people aged 51 to 61 with the investment behavior of their white counterparts. The major findings indicate that black and Hispanic people: (a) are less likely to invest in the equity market than are white people, and (b) tend to invest smaller percentages of their assets in the equity market. Implications for policy are discussed.     

The power and limits of ethnonationalism: Palestinians and Eastern Jews in Israel, 1974-1991

The relative standings of four ethnic groups - Muslim Palestinians, Christian Palestinians, Asian-African Jews, European Jews -were compared, using mobility data from 1974 and 1991. The findings show that despite the lack of government support and the prevalence of inexorable discrimination against Israeli Palestinians, they have narrowed the gap with Asian-African Jews in both education and occupational prestige. This finding demonstrates that ideological and political hegemony is not always effective in improving the socio-economic standing of preferred minorities (Asian-African Jews), and that social and economic structures may counterbalance the anti-Palestinian nationalist ideology. The analysis suggests that residential and educational segregation of Palestinians protects them from direct competition with European Jews, whereas Asian-African Jews have to compete with this dominant group in schools, as well as in the labour market.     

College Students' Money Beliefs and Behaviors: An Asian Perspective

The multidimensionality of money was investigated, using exploratory factor analysis (EFA). The respondents, 290 college students from Korea, Japan, and the United States, were administered a survey, which included socio-demographic questions, and Furnham's (1984) Money Beliefs and Behaviors (MBBS) Scale. Through a series of principal components analyses, a three-factor model with 10 MBBS items was identified. The three factors, Power, Security, and Financial Modesty accounted for 53.6% of the variance. The findings have implications for college students and financial management practitioners.     

The effects of learning and forgetting on the optimal lot size quantity of intermittent production runs

This paper studies the effects of learning and forgetting on the production lot size problem with infinite and finite planning horizons. It is assumed that the determination of the economic manufactured quantity (EMQ) in the succeeding production run is dependent on: (1) the maximum inventory accumulated prior to interruption; (2) the length of the interruption period which incurs total forgetting; and (3) the level of experience in equivalent units remembered at the start-up of the next production run. The optimum operating inventory doctrines is obtained by trading off procurement cost per unit time and the inventory carrying cost per unit time, so that their sum will be a minimum. A numerical example is presented to demonstrate the application of learning and forgetting to the determination of the EMQ.     

A new two-party bargaining mechanism

If resources and facilities from different partners need to be engaged for a large-scale project with a huge number of tasks, any of which is indivisible, decision on the number of tasks assigned to any collaborating partner often requires a certain amount of coordination and bargaining among these partners so that the ultimate task allocation can be accepted by any partner in a business union for the project. In the current global financial crisis, such cases may appear frequently. In this paper, we first investigate the behavior of such a discrete bargaining model often faced by service-based organizations. In particular, we address the general situation of two partners, where the finite Pareto efficient (profit allocation) set does not possess any convenient assumption for deriving a bargaining solution, namely a final profit allocation (corresponding to a task assignment) acceptable to both partners. We show that it is not appropriate for our discrete bargaining model to offer the union only one profit allocation. Modifying the original optimization problem used to derive the Nash Bargaining Solution (NBS), we develop a bargaining mechanism and define a related bargaining solution set to fulfil one type of needs on balance between profit-earning efficiency and profit-earning fairness. We then show that our mechanism can also suit both Nash’s original concave bargaining model and its continuous extension without the concavity of Pareto efficient frontier on profit allocation.     

The impact of random machine unavailability on inventory policies in a continuous improvement environment

There are production situations where a production facility (e.g. a machine) is used intermittently to produce lot sizes of certain products. Upon completion of production run, the facility may not be available for a random amount of time due to several reasons, such as: the facility needs to be maintained and the maintenance time is random due to unforeseen circumstances; or that the facility is leased by different manufacturers and the demand for the facility is random. As a result of machine unavailability, stock-out situations might arise. This paper extends the work of Abboud et al . (2000, Computers and Operations Research , 27 , 335-351) by assuming learning and forgetting in production. A new mathematical model is developed with numerical examples and sensitivity analysis provided. Furthermore, this paper determines how the overall inventory cost is influenced by the nature of the random variable that represents the unavailability time of the production facility.     

Dynamic selection of dispatching rules for job shop scheduling

Although the academic contribution to job shop scheduling is abundant, its impact on practice has been minimal. The most preferred approach to job shop scheduling in the industry is dispatching rules. A major criticism against dispatching rules is that there is no single universal rule. The effective choice of dispatching rules depends on the scheduling criterion and existing job shop conditions. In this paper, the authors have proposed a scheduling method based on the analytic hierarchy process, that dynamically selects the most appropriate dispatching rule from several candidate rules. The selection is based on the existing job shop conditions. This method is applied to two formal job shop problems, and the results for single dispatching rules are inferior to the method proposed in this paper.     

Early involvement in the design chain—a case study from the computer industry

This work presents a case study of how a design chain, with more than three tiers of organisations (customer, manufacturer, and supplier), can involve its members in the early stages of the design and development process to meet their needs more effectively. A vertical design chain model, consisting of strategy, process and information levels, is adopted to elucidate how a computer company can provide for different customers and use various suppliers to create synergy within the design chain. The results of this study demonstrate that the re-engineering of cross organisation product design flow, product data management software applications and the integration of information from various parties are critical to the early involvement in a vertical design chain. Based on this case study, the proposed early involvement model can shorten the time taken to develop new products and considerably reduce the number of engineering changes for various manufacturers.