Home bias persistence in foreign direct investments

The purpose of this paper is to analyse the issues related to home bias and foreign direct investments (FDIs). We study the role of physical, cultural, and institutional distances from home on FDI decisions taken by corporations to assess whether the globalization of the past two decades has reduced their influence. Using the ‘home bias’ framework from the finance literature and the gravity model from the economics literature, we utilize a large sample of both developed and emerging markets, using FDI flows of 6263 unique bilateral country pairs over a 30-year period. We find strong empirical evidence of persistent home bias in FDI outflows, and we show that not only physical distance but also cultural and institutional similarities between host and source countries remain a decisive factor in foreign corporate investment decisions. We also show that such home bias is persistent over time and is observed around the world.

Reduced-Reference Image Quality Assessment Based on Edge Preservation

Assessing the subjective quality of processed images through an objective quality metric is a key issue in multimedia processing and transmission. In some scenarios, it is also important to evaluate the quality of the received images with minimal reference to the transmitted ones. For instance, for closed-loop optimisation of image and video transmission, the quality measure can be evaluated at the receiver and provided as feedback information to the system controller. The original images - prior to compression and transmission - are not usually available at the receiver side, and it is important to rely at the receiver side on an objective quality metric that does not need reference or needs minimal reference to the original images. The observation that the human eye is very sensitive to edge and contour information of an image underpins the proposal of our reduced reference (RR) quality metric, which compares edge information between the distorted and the original image. Results highlight that the metric correlates well with subjective observations, also in comparison with commonly used full-reference metrics and with a state-of-the-art reduced reference metric. © 2012 ICST Institute for Computer Science, Social Informatics and Telecommunications Engineering.

A framework for evaluating the European airline costs of disabled persons and persons with reduced mobility

In recent years, airlines have been servicing a greater variety, and increasing numbers, of disabled persons and persons with reduced mobility (PRMs), particularly associated with ageing, obesity and medical needs. With the quantity of PRMs likely to increase in the future, there will be a growing impact on the airlines' associated actual and opportunity costs, about which there is minimal literature and data. Therefore the aim of this paper is to identify standard functional key factors (FKFs) with which airlines could audit their PRMs costs, and which could be used by other interested bodies, such as governments, when considering relevant aviation policy. These FKFs are related to nine areas, namely PRMs’ transfers; mobility aids; aircraft delays/diversions costs; staff training costs; staff health, safety and welfare; aircraft fixtures and equipment costs; airport costs; transaction costs; and opportunity costs. Further research is needed to obtain the data for these FKFs.