A Comparison of Unit-Root Test Criteria

During the past 15 years, the ordinary least squares estimator and the corresponding pivotal statistic have been widely used for testing the unit-root hypothesis in autoregressive processes. Recently, several new criteria, based on maximum likelihood estimators and weighted symmetric estimators, have been proposed. In this article, we describe several different test criteria. Results from a Monte Carlo study that compares the power of the different criteria indicate that the new tests are more powerful against the stationary alternative. Of the procedures studied, the weighted symmetric estimator and the unconditional maximum likelihood estimator provide the most powerful tests against the stationary alternative. As an illustration, the weekly series of one-month treasury-bill rates is analyzed.     

Adjusting the degrees of freedom for the jackknife

The rule of thumb given by Mosteller and Tukey for obtaining the degrees of freedom which are appropriate for the approximate t-statistic associated with the jackknife is discussed.Examples of possible misapplication of this rule are given.     

Corruption,Culture, and Communism

Cultural factors, as measured by the two dimensions of values identified by Inglehart, explain 75% of the variation in the Perceived Corruption Index across non-communist countries. A strong ‘survival’ orientation contributes twice as much as a strong ‘traditional’ orientation to higher levels of corruption. When controlling for these cultural variables, communism and post-communism increase the levels of corruption even further, both directly and by contributing to heavier emphasis on survival values. Communism created structural incentives for engaging in corrupt behaviors, which became such a widespread fact of life that they became rooted in the culture in these societies – that is, the social norms and practices prevailing in communist societies. The transitions toward democracy and market economies have not yet erased this culture of corruption. In addition, the process of privatization itself has opened myriad opportunities for corruption. The effects are manifest in comparisons of corruption in non-communist and (post-)communist countries in five cultural zones.     

Corporate planning and the chief executive

This study has analyzed how 295 chief executive officers formulated their overall corporate strategy. The analyses reveal the insights of the practising chief executive officers about the strategic mixes of functions (marketing, finance, production, etc.) and the strategic configurations of functions which they perceived strategic for the accomplishment of their particular firm's major objectives and goals. The web of interrelationship among primary and supportive functions (i.e. configuration of functions) provides a different approach to the study of overall corporate strategy.     

A Latent Class Binomial Logit Methodology for the Analysis of Paired Comparison Choice Data

A latent class model for identifying classes of subjects in paired comparison choice experiments is developed. The model simultaneously estimates a probabilistic classification of subjects and the logit models' coefficients relating characteristics of objects to choices for each respective group among two alternatives in paired comparison experiments. A modest Monte Carlo analysis of algorithm performance is presented. The proposed model is illustrated with empirical data from a consumer psychology experiment that examines the determinants of perceived consumer risk. The predictive validity of the method is assessed and compared to that of several other procedures. The sensitivity of the method to (randomly) eliminate comparisons, which is important in view of reducing respondent fatigue in the task, is investigated.     

Exploring heterosexual women's anti-lesbian attitudes

Previous research on attitudes toward gays has mostly focused on heterosexuals' attitudes toward gay men, with little research specifically directed at anti-lesbian attitudes. Using a sample of 269 undergraduate heterosexual women, the present study tested two feminist propositions: Anti-lesbian attitudes would be associated with (1) conservative beliefs regarding the female gender-role and (2) attitudes toward men that support the differential status of women and men in the patriarchy. Findings based on a series of multiple regression analyses support these propositions across three components of anti-lesbian attitudes (contact apprehension, morality beliefs, and stereotypic beliefs). Directions for future research on anti-lesbian attitudes are discussed.     

Examining evidence of financial and credit exclusion in Canada from 1999 to 2005

Changes are occurring in the provision of consumer credit, including the expansion of subprime and some fringe financial services (e.g., payday lending). We link two existing literatures on credit constraint and financial exclusion to assess the impact of these developments on the financial circumstances of low and modest-income consumers. We develop a model that identifies observable measures of credit constraint and financial exclusion and relate them to consumer characteristics and life cycle behaviour. We estimate this model using the two latest Surveys of Financial Security for 1999 and 2005, which provide consistent evidence of credit constraint and financial exclusion through time. We find modest overlap among our measures of financial exclusion, which include a zero balance/no account, credit card refusal, and using a pawnshop. Probit regression is used to investigate the factors influencing the incidence of financial exclusion. The results are similar for 1999 and 2005 and indicate rising incidence of financial exclusion as income and wealth fall, although the relationship is nonlinear such that incidence rises much faster at very low levels of income and wealth. Our analysis also suggests potentially important links between financial literacy, formal education, asset building, and financial exclusion and credit constraint. When we combine the samples, we find statistically significant evidence of growth in the incidence of each indicator of financial exclusion when other factors are held constant. Policy implications may include the strengthening of banking regulations that affect low-income Canadians and the promotion of universal financial literacy.     

会呼吸的电池——由空气产生电力的新能源

连续供应能源的电池 近百年来,人类的科技飞速进步,不论是军事武器还是民用设旌的发展,都是一日千里,近10年来更是与日俱增.因为科技发展的快速,加上全球人口的增长,能源的使用也不断地增加. 目前最重要的能源当属石油,而世界上石油的产量几乎全控制在几个主要的产油国家,这些产油国家组成石油输出国组织,简称OPEC.