Correlation of business cycles in the euro zone

In this short article we use a simple differences-in-clifferences technique to investigate whether bilateral correlation of business cycles increased more amongst members of the European Monetary Union (EMU) after the implementation of the Euro than amidst other OECD economies. We present evidence suggesting this to be the case. (C) 2008 Elsevier B.V. All rights reserved.

The effects of normalisation on the ability of business end-users to detect data anomalies: An experimental evaluation

With the proliferation of relational database programs for PC's and other platforms, many business end-users are creating, maintaining, and querying their own databases. More importantly, business end-users use the output of these queries as the basis for operational, tactical, and strategic decisions. Inaccurate data reduce the expected quality of these decisions. Implementing various input validation controls, including higher levels of normalisation, can reduce the number of data anomalies entering the databases. Even in well-maintained databases, however, data anomalies will still accumulate. To improve the quality of data, databases can be queried periodically to locate and correct anomalies. This paper reports the results of two experiments that investigated the effects of different data structures on business end-users' abilities to detect data anomalies in a relational database. The results demonstrate that both unnormalised and higher levels of normalisation lower the effectiveness and efficiency of queries relative to the first normal form. First normal form databases appear to provide the most effective and efficient data structure for business end-users formulating queries to detect data anomalies.

The calculation of accident risks in fitness for work assessments: diseases that can cause sudden incapacity

Risk equations have been developed to assist in determining fitness for work of people with diseases that may cause rapid loss of control. The four equations calculate the frequency of fatal injury to the person with the disease, the frequency of fatal injury to colleagues in the workplace, and the cost of fatal injury and property damage to the employer, it is suggested that the additional risk of fatal injury to the person with the disease should not exceed the fatal injury rate in high-risk industries such as forestry, fishing and mining. it is also suggested that the additional risk of fatal injury to each colleague should be no more than one-tenth of the fatal injury rate due to motor vehicle accidents in the community. Two hypothetical case examples are given, demonstrating the use of the equations. The equations highlight the need to examine the risks associated with individuals, their specific jobs and their workplaces. They also highlight significant uncertainties in the determination of fitness, which perhaps have been underestimated in the past. Wherever possible, redundant defences should be utilized to prevent accidents in the event of sudden incapacity.

An EM-based Semi-Parametric Mixture Model Approach to the Regression Analysis of Competing-Risks Data

We consider a mixture model approach to the regression analysis of competing-risks data. Attention is focused on inference concerning the effects of factors on both the probability of occurrence and the hazard rate conditional on each of the failure types. These two quantities are specified in the mixture model using the logistic model and the proportional hazards model, respectively. We propose a semi-parametric mixture method to estimate the logistic and regression coefficients jointly, whereby the component-baseline hazard functions are completely unspecified. Estimation is based on maximum likelihood on the basis of the full likelihood, implemented via an expectation-conditional maximization (ECM) algorithm. Simulation studies are performed to compare the performance of the proposed semi-parametric method with a fully parametric mixture approach. The results show that when the component-baseline hazard is monotonic increasing, the semi-parametric and fully parametric mixture approaches are comparable for mildly and moderately censored samples. When the component-baseline hazard is not monotonic increasing, the semi-parametric method consistently provides less biased estimates than a fully parametric approach and is comparable in efficiency in the estimation of the parameters for all levels of censoring. The methods are illustrated using a real data set of prostate cancer patients treated with different dosages of the drug diethylstilbestrol. Copyright (C) 2003 John Wiley Sons, Ltd.

Voluntary disclosure of forward-looking earnings forecasts in Australia

This study examines the voluntary disclosure of future earnings information in annual reports for Australian listed companies. We find that most Australian companies in our sample do not provide quantitative earnings, forecasts in their annual reports, although more than half of the sample do disclose forward-looking information relating to earnings, without specifically disclosing point estimates for the future. These companies mostly supply qualitative information with a positive bias, while the remainder of the sample discloses no forward-looking information relating to earnings. Our findings also suggest that larger companies with less volatile earnings tend to provide more future earnings information than smaller companies with relatively volatile earnings.

On the discovery of business processes orchestration patterns

COORDINSPECTOR is a Software Tool aiming at extracting the coordination layer of a software system. Such a reverse engineering process provides a clear view of the actually invoked services as well as the logic behind such invocations. The analysis process is based on program slicing techniques and the generation of, System Dependence Graphs and Coordination Dependence Graphs. The tool analyzes Common Intermediate Language (CIL), the native language of the Microsoft .Net Framework, thus making suitable for processing systems developed in any .Net Framework compilable language. COORDINSPECTOR generates graphical representations of the coordination layer together with business process orchestrations specified in WSBPEL 2.0

The perceived potential of business social networking sites

Business social networking is a facilitator of several business activities, such as market studies, communication with clients, and identification of business partners. This paper traduces the results of a study undertaken with the purpose of getting to know how the potential of networking is perceived in the promotion of business by participants of the LinkedIn network, and presents two main contributions: (1) to disseminate within the business community which is the relevance given to social networking; and (2) which are the social networks best suitable to the promotion of business, to support the definition of strategies and approaches accordingly. The results confirm that LinkedIn is the most suitable network to answer the needs of those that look for professional contacts and for the promotion of business, while innovation is the most recognized factor in the promotion of business through social networking. This study contributes to a better understanding of the potential of different business social networking sites, to support organizations and professionals to align their strategies with the perceived potential of each network.

Disclosure of Intangible Assets: an Empirical Study of Financial Corporations in the Iberian Peninsula

The purpose of this paper is to analyse, firstly, to what extent intangible assets in the consolidated accounts of seven Portuguese banks and seven Spanish banks between 2006 and 2009 are disclosed and, secondly, to analyse what the most influential factors are in the above mentioned disclosure. In order to do this, before reviewing the existing literature and on the basis of other studies on this topic, a disclosure index has been created based on the requirements related to the intangible assets as stated in IAS 38. Then, two statistical analyses have been made: a univariate one for each of the explanatory variables and a multivariate one, in which all variables have been analysed. Both analyses led to the conclusion that the disclosure index of intangible assets is 0.96, where the bank dimension and the internationalization degree are the variables that are considered explanatory of the variation of the disclosure index in the regression analysis.