Meta-regression analysis as the socio-economics of economics research

Meta-regression analysis (MRA) provides an empirical framework through which to integrate disparate economics research results, filter out likely publication selection bias, and explain their wide variation using socio-economic and econometric explanatory variables. In dozens of applications, MRA has found excess variation among reported research findings, some of which is explained by socio-economic variables (e.g., researchers’ gender). MRA can empirically model and test socio-economic theories about economics research. Here, we make two strong claims: socio-economic MRAs, broadly conceived, explain much of the excess variation routinely found in empirical economics research; whereas, any other type of literature review (or summary) is biased.

Measurement of the mass transfer coefficient at workpiece surfaces in heat treatment furnaces

The mass (e.g. carbon) transfer coefficient at a workpiece surface is an important kinetic factor to control the heat treatment process of the workpiece and to evaluate heat treatment equipment. The coefficient can be calculated from the carbon concentration at the surface of a sample carburized in a carburizing furnace for a given time. Two common measurement methods which use a thin plate and employ a component as samples respectively are evaluated and compared for sensitivity and uncertainty. The comparison shows that the use of a component produces higher measurement precision and also has the advantage in measuring the carbon transfer coefficients at different treated positions. This method is then extended and discussed methodologically. Also two equations are proposed to calculate the carbon transfer coefficient and its uncertainty, respectively. This method is also applied to measure the carbon transfer coefficient in a fluidized bed heat treatment furnace.

Dividend policy choice : do earnings or investment opportunities matter?

The aim of this paper is to analyse the influence of a company's level of earnings and growth opportunities in determining the dividend policy choice of Malaysian-listed firms. The analysis is based on a sample of 136 firms listed on the Bursa Malaysia Index over a period of six years, from 1990 to 1996. The evidence suggests that the payers are more profitable than non-payers. Likewise, investment opportunity, which is measured by (∂At /At-1) and (Vt /At), differed for both payers and non-payers. The regression estimates from Logit model suggest that the average coefficient for EATA is a significant determinant for firm's dividend policy choice in Malaysia. This is consistent with the supposition that profitable firms are more likely to pay dividends than less profitable firms. Although investment opportunities, the firm's size and leverage were not found to be statistically significant, they provided some explanation for the dividend policy choice.

Managerial ownership concentration and agency conflict using logistic regression approach : evidence from Bursa Malaysia

This paper adopted logistic regression model to examine the relationship between level of managerial ownership concentration and agency conflict which are proxied by level of risk, firms leverage and firms dividend policy. The study covers a period of 5 years from 1997 through 2001. The study is based on the 100 blue-chip stocks, majority of which are derived from CI components. The findings suggest a positive and significant association between level of level of risk at lower level and managerial ownership while a negative and significant association is also evidenced between risk at higher level and managerial ownership concentration. While debt policy which serves as positive monitoring substitute for agency conflict is found to be positive and significant explaining the level of ownership concentration. Furthermore, dividend policies, which also serve as monitoring, substitute to reduce agency conflict between manager and external shareholders do not appear to have any significant impact on managerial ownership. On the other hand, the level of institutional ownership, which serves as external monitoring force, is found to have inverse impact on level of managerial ownership concentration. This is marginally significant at 10 level (p=.12). The findings, in part explain the argument that the managerial ownership help reduce agency conflict between outside equity holders and managers.

Sources of variation in fibre diameter attributes of Australian alpacas and implications for fleece evaluation and animal selection

Sources of variation in fibre diameter attributes of Australian alpacas and implications for fleece evaluation and animal selection were investigated using data collected in the years 1994–97, from 6 properties in southern Australia. Data were analysed using REML (multiple regression analysis) to determine the effect on mean fibre diameter (MFD) and coefficient of variation of MFD (CV(FD)) of age, origin (property), sex (entire male, female), breed (Huacaya, Suri), liveweight, fibre colour, individual, and interactions of these effects. The mean (n = 100) age (range) was 4.2 years (0.1–11.9), liveweight 72.0 kg (12.0–134 kg), MFD 29.1 μm (17.7–46.6 μm), CV(FD) 24.33% (15.0–36.7%).

A number of variables affected MFD and CV(FD). MFD increased to 7.5 years of age, and correlations between MFD at 1.5 and 2 years of age with the MFD at older ages were much higher than correlations at younger ages. Fibre diameter 'blowout' (increase with age) was positively correlated with the actual MFD at ages 2 years and older. There were important effects of farm, and these effects differed with year and shearing age. Suris were coarser than Huacayas with the effect reducing with increased liveweight; there was no effect of sex. Fleeces of light shade were 1 μm finer than dark fleeces. CV(FD) declined rapidly between birth and 2 years of age, reaching a minimum at about 4 years of age and then increasing; however, CV(FD) measurements on young animals were very poor predictors of CV(FD) at older ages, and the response of CV(FD) to age differed with farm and year. Suris had a higher CV(FD) than Huacayas on most properties, and MFD, liveweight, and sex did not affect CV(FD). Fleeces of dark shade had higher CV(FD) than fleeces of light shade in 2 of the years. It is concluded that there are large opportunities to improve the MFD and CV(FD) of alpaca fibre through selection and breeding. The potential benefit is greatest from reducing the MFD and CV(FD) of fibre from older alpacas, through reducing the between-animal variation in MFD and CV(FD). Sampling alpacas at ages <2 years is likely to substantially decrease selection efficiency for lifetime fibre diameter attributes.

Regression of solid tumors by engineered overexpression of von Hippel-Lindau tumor suppressor protein and antisense hypoxia-inducible factor-1alpha

The von Hippel-Lindau tumor suppressor protein (pVHL) suppresses tumor formation by binding the alpha subunits of hypoxia-inducible factors (HIFs) responsible for stimulating tumor angiogenesis and glycolysis, targeting them for ubiquitination and proteasomal destruction. Loss of pVHL leads to the development of sporadic renal cell carcinomas (RCCs). In the present study, we sought to determine whether engineered overexpression of pVHL in tumors other than RCC can inhibit tumor growth, either as a monotherapy, or in combination with antisense HIF-1alpha therapy. Intratumoral injection of subcutaneous EL-4 thymic lymphomas with an expression plasmid encoding pVHL resulted in the downregulation of HIF-1alpha and vascular endothelial growth factor (VEGF). There was a concomitant reduction in tumor angiogenesis and increased tumor cell apoptosis due in part to downregulation of Bcl-2 expression. VHL therapy resulted in the complete regression of small (0.1 cm diameter) tumors whereas, in contrast, large (0.4 cm diameter) EL-4 tumors were only slowed in their growth. Nevertheless, large tumors completely regressed in response to intratumoral injection of a combination of antisense HIF-1alpha and VHL plasmids. Combination therapy resulted in increased losses of HIF-1alpha, VEGF, and tumor blood vessels, and increased tumor cell apoptosis. These novel results suggest that synergistic therapies that simultaneously block the expression or function of HIF-1alpha, and enhance the expression or function of VHL may be beneficial in the treatment of cancer.

Variation of fibre diameter coefficient of variation and fibre curvature across mohair fleeces: Implications for animal selection, genetic selection and fleece evaluation

The presentwork aimed to determine howthe average fibre diameter coefficient of variation (CVD) and fibre curvature (FC) differences between nine sampling sites vary between sex and flock, to identify differences in variability between sampling sites as a result of between animal and between sire variability and to determine correlations between sampling sites in between animal and between sire variability. Australian Angoras (n = 313) from two farms in southern Australia were sampled at 12 and 18 months of age at nine sites (mid side, belly, brisket, hind flank, hip, hock, mid back, neck, shoulder). Staples were taken prior to shearing at skin level and CVD and FC determined. For each shearing, differences in CVD and FC between sampling sites, how these differences were affected by farm, sex, and sire, and the covariance between sites for sire and individual animal effects were investigated by restricted maximum likelihood (REML) analyses. The median mid side CVD at 12 and 18 months of age ranged from 23.6 to 25.1% but the actual range was 16.8–34.2%. The median mid side FC at 12 and 18 months of age ranged from 14.4 to 18.6◦/mm but the actual range was 10.5–26.3◦/mm. The general pattern for CVDwas for the mid back, hip and neck sites to have similar CVD, the brisket, hind flank and hock sites to have larger CVD and the belly to have smaller CVD than the mid side site. The between animal variation for CVD was lowest at the mid back site. This implies that the mid back would be the most effective site for between animal selection for CVD. Heritabilities for CVD (range at 18 months 0.18–0.30) were only about half the heritabilities for mean fibre diameter in the same study. There was a marked anterior–posterior increase in FC at both farms and with both ages. The results give no clear indication of the best site for between animal selection for FC, other than that the hock should be avoided. Heritabilities for FC are moderate to high (range at 18 months 0.44–0.77) and the genetic correlations are high except for the hock. Thus genetic selection for FC at any site, other than the hock, should be effective for changing FC over the entire fleece. There was more variability between animals than between sites and sires. These results are put into context with associated research on variation in mean fibre diameter and staple length.

OWA operators in linear regression and detection of outliers

We consider the use of Ordered Weighted Averaging (OWA) in linear regression. Our goal is to replace the traditional least squares, least absolute deviation, and maximum likelihood criteria with an OWA function of the residuals. We obtain several high breakdown robust regression methods as special cases (least median, least trimmed squares, trimmed likelihood methods). We also present new formulations of regression problem. OWA-based regression is particularly useful in the presence of outliers.

OWA operators in regression problems

We consider an application of fuzzy logic connectives to statistical regression. We replace the standard least squares, least absolute deviation, and maximum likelihood criteria with an ordered weighted averaging (OWA) function of the residuals. Depending on the choice of the weights, we obtain the standard regression problems, high-breakdown robust methods (least median, least trimmed squares, and trimmed likelihood methods), as well as new formulations. We present various approaches to numerical solution of such regression problems. OWA-based regression is particularly useful in the presence of outliers, and we illustrate the performance of the new methods on several instances of linear regression problems with multiple outliers.

Two-stage sequential procedure for nonparametric regression estimation

In nonparametric statistics the functional form of the relationship between the response variable and its associated predictor variables is unspecified but it is assumed to be a smooth function. We develop a procedure for constructing a fixed width confidence interval for the predicted value at a specified point of the independent variable. The optimal sample size for constructing this interval is obtained using a two stage sequential procedure which relies on some asymptotic properties of the Nadaraya--Watson and local linear estimators. Finally, a large scale simulation study demonstrates the applicability of the developed procedure for small and moderate sample sizes. The procedure developed here should find wide applicability since many practical problems which arise in industry involve estimating an unknown function.