Recovery of hypoglycemia awareness in long-standing type 1 diabetes: a multicenter 2 × 2 factorial randomized controlled trial comparing insulin pump with multiple daily injections and continuous with conventional glucose self-monitoring (HypoCOMPaSS)

To determine whether impaired awareness of hypoglycemia (IAH) can be improved and severe hypoglycemia (SH) prevented in type 1 diabetes, we compared an insulin pump (continuous subcutaneous insulin infusion [CSII]) with multiple daily injections (MDIs) and adjuvant real-time continuous glucose monitoring (RT) with conventional self-monitoring of blood glucose (SMBG).

Financial cooperatives and the development of social capital.

 Financial Cooperatives and the Development of Social Capital thesis examines the generation of social capital within locally owned and managed financial cooperatives and their communities in Cambodia, Timor Leste and the Solomon Islands and contrasts factors which affect the development of social capital and the associated impacts on the institution.

Persistence, capital account openness, and financial sector health in exchange rate regime choice

This paper investigates empirically the persistence in exchange rate regimes as well as the role of capital account openness and financial sector health (measured by financial development and financial sector fragility) in exchange rate regime determination for a panel of 143 countries covering the post-Bretton Woods period. The results demonstrate that while low- and high-income countries exhibit highly persistent exchange rate regimes, middle-income countries display relatively lower persistence. For middle-income countries, capital account openness and the level of financial development play important roles in exchange rate regime choice. The fragility of the financial sector does not affect the exchange rate regime determination.

The comparative efficiency and productivity of labor-managed and capital-managed firms

The available empirical literature comparing the efficiency and productivity of labor-managed and capital-managed firms is reviewed and meta-analysed. The results suggest that labor-managed firms are not less efficient or less productive than capital-managed firms. Labor-managed firms have lower output-to-labor ratios and even lower capital-to-labor ratios. However, the differences in these ratios are not statistically significant. The labor-managed firm's democratic governance, industrial relations climate, and organisational setting do not appear to adversely affect productivity and efficiency. © 1997 by URPE All rights of reproduction in any form reserved.

Human capital formation and US economic growth: A causality analysis

In this paper, Granger causality tests are applied to a new data set on human capital formation and US private sector GDP. The study is the first to test for causality between human capital formation and economic growth. It employs an error correction mechanism and is estimated through canonical cointegration regression. The results show strong evidence of casuality from human capital formation to private sector GDP and vice versa.

Understanding the symbolic capital of intercultural interactions: a case study of international students in Australia

Intercultural interaction plays an important role in contributing to international students’ learning and wellbeing in the host country. While research on international students’ intercultural interactions reveals multifaceted aspects of personal and social factors, there is a tendency to consider language barrier and cultural differences as individual factors that constrain their interactions with the institutional community. Drawing on 105 interviews with international students in Australian vocational education and training and dual sector institutions, this paper examines international students’ intercultural interactions in host institutions and the factors that act as enablers or inhibitors for intercultural interactions. It highlights the social and structural conditions in creating symbolic capital of elitist Anglo-Australian culture and English language, and social differentiation. This paper offers insights into understanding the legitimacy of such elitism, in hope that future conceptualisation, research and practices of intercultural interactions may locate international students within their cultural diversity.

Capital structure and corporate performance: evidence from Jordan

This study is to investigate the effect which capital structure has had on corporate performance using a panel data sample representing of 167 Jordanian companies during 1989-2003. Our results showed that a firm’s capital structure had a significantly negative impact on the firm’s performance measures, in both the accounting and market’s measures. We also found that the short-term debt to total assets (STDTA) level has a significantly positive effect on the market performance measure (Tobin’s Q). The Gulf Crisis 1990-1991 was found to have a positive impact on Jordani an corporate performance while the out break of Intifadah in the West Bank and Gaza in September 2000 had a negative impact on corporate performance.

Does political capital create value in the IPO market? Evidence from China

This study examines the value of political capital in the Chinese IPO market. We find a positive relationship between a politically connected executive and the probability of IPO approval of entrepreneurial firms. We further identify that shareholders value those connections and give a market premium to connected firms after the firms go public. We provide evidence that other types of political capital gained through external sources, such as politically connected sponsors and PE investors, also bring benefits to the firms in their IPO approval, and these connections substitute for the effect of the executive's political connections on IPO approval. We argue that in emerging markets where government intervention is still prevalent, political capital does create value and entrepreneurial firms usually build political capital to facilitate their access to the IPO market, although other types of political capital do not bring further benefits into the post-IPO market.

Managerial ownership, capital structure and firm value: Evidence from China’s civilian-run firms

This paper examines the influence of managerial ownership on firm performance through capital-structure choices, using a sample of China’s civilian-run firms listed on the Chinese stock market between 2002 and 2007. The empirical results demonstrate a nonlinear relationship between managerial ownership and firm value. Managerial ownership drives the capital structure into a nonlinear shape, but in an opposite direction to the effect of managerial ownership on firm value. The results of simultaneous regressions suggest that managerial ownership affects capital structure, which in turn affects firm value. Our findings imply that the “interest convergence” and “entrenchment” effects of managers’ behaviour in terms of managerial ownership can also explain the agency-relevant situation of China’s civilian-run firms.

Managerial ownership, capital structure and firm value

This paper extends prior research to examine the managerial ownership influences on firm performance through the choices of capital structures by using a new sample of S& P 500 firm in 2005. The empirical results of OLS regressions replicate the nonlinear relationship between managerial ownership and firm value. However, we found that the turning points had moved up in our sample compared with previous papers, which implies that the managerial control for pursuing self-interst, and the alignment of interests between managers and other shareholders can only be achieved now by management holding more ownership in a firm than that found in previous studies. Managerial ownership also drives the capital structure as a nonlinear shape, but with a direction opposite to the shape of firm value. the results of simultaneous regressions suggest that managerial ownership affects capital structure, which in turn affects firm value. Capital structure is endogenously determined by bith firm value and managerial ownership; while managerial ownership is not endogenously determined by the other two variables.