Understanding the financial status of a group of high performance athletes

With the 2010 Vancouver Winter Olympic Games quickly approaching, there has been a heightened interest in the performance of Canadian athletes at international competitions (Duffy, 2007; Fidlin, 2005; Longley, 2006). Two significant documents outline Canada's goal to become the number one sporting nation at the 2010 Olympic Games, and improve Canada's performance at the 2008 Olympic Games: Own the Podium and Road to Excellence (Priestner Allinger & Allinger, 2004; Road to Excellence, 2006). These two documents represent heightened interest in the performance of our elite athletes, in conjunction with Canada's hosting status of the Vancouver 2010 Winter Olympic Games. The requirements to train and compete at the international level have become more demanding both in terms of financial resources and time commitment. The need to financially assist athletes with their training and competition costs has been an important topic of debate over the past decades (Beamish & Borowy, 1987; Gatehouse, 2004; Macintosh, 1996; Munro, 1970; Owens, 2004). Two sources of fiinding for high performance athletes in Canada are the Athlete Assistance Program (AAP) provided by the Federal Government and the Canadian Olympic Excellence Fund provided by the Canadian Olympic Committee. The importance of these fiinds for athletes has been discussed in various forums (Ekos, 1992, 1997, 2005; Priestner Allinger & Allinger, 2004; Thibault «& Babiak, 2005). However, alternative sources of funds for high performance athletes have never been the object of research. As such the purpose of this study was to describe a group of athlete applicants from the time period of November 2004 to April 2006, and to contextualize these applications within the development of the Charitable Fund for Athletes.

Forecasting the Yield Curve of Government Bonds: A Comparative Study

For the past 20 years, researchers have applied the Kalman filter to the modeling and forecasting the term structure of interest rates. Despite its impressive performance in in-sample fitting yield curves, little research has focused on the out-of-sample forecast of yield curves using the Kalman filter. The goal of this thesis is to develop a unified dynamic model based on Diebold and Li (2006) and Nelson and Siegel’s (1987) three-factor model, and estimate this dynamic model using the Kalman filter. We compare both in-sample and out-of-sample performance of our dynamic methods with various other models in the literature. We find that our dynamic model dominates existing models in medium- and long-horizon yield curve predictions. However, the dynamic model should be used with caution when forecasting short maturity yields

Drivers of Local Firms’ Focus on Internal R&D in Emerging Economies and Their International Performance

Grounded on the resource-based view of the firm, the study of this thesis investigates the effect of four internal and external factors – engineer intensity, location, affiliation with the government, government funding – on Chinese firms’ decision to either invest in internal R&D activities or external R&D and the effect of this decision on the firms’ international market success. In addition, the moderating role of the presence of foreign firms in China is examined. To understand these relationships, the thesis’ theorization focuses on the issue of how firms can combine optimally the two options – “internal R&D” and “external R&D”. In this regard I juxtapose internal R&D and external R&D and compare their advantages and disadvantages. To test my model, I apply panel data from the Annual Industrial Survey Database provided by the Chinese National Bureau of Statistics. My results show that three of the four investigated factors affect Chinese firms’ resource allocation decisions; and effective resource allocation decisions lead effectively to international market success, strengthened by the presence of foreign firms in China. Moreover the findings bear several theoretical and managerial contributions. First I propose the last dimension of the “VRIO framework” – “organization” – as an endogenous component of the VRIO framework, as my study investigated how firms can effectively combine resources to generate a competitive advantage in terms of international market success. Previous academic literature so far focused on examining whether internal and external R&D are complements or substitutes. My study fills a gap in the literature by investigating the determinants of the efficient combination of the two strategies and the outcome of the combination. One of the managerial implications is that Chinese firms can learn from foreign companies that are present in China.

Les contrats de performance et les universités québécoises : une orchestration étatique de la subordination du champ universitaire aux règles du jeu économique

Mémoire présenté à la Faculté des études supérieures en vue de l’obtention du grade de maître ès sciences (M.Sc.) en sociologie

Mémoire et performance : analyse de la commémoration de la Révolution kuna à Uggubseni, Panama

En 1925, les Kunas (Gunas), autochtones du nord-est du Panama, se soulevèrent en armes afin de contrer les politiques assimilationnistes du gouvernement national. Première étape dans un long processus d’affirmation identitaire et de revendications territoriales, ce soulèvement est aujourd’hui connu sous le nom de Révolution kuna (Revolución Dule). Considéré de nos jours comme un symbole des luttes autochtones pour l’autodétermination et l’autonomie politique, cet épisode historique est grandement célébré dans le territoire de Kuna Yala (Gunayala). À Uggubseni, scène principale du soulèvement de 1925, la commémoration prend la forme d’une reconstitution historique où, pendant plus d’une semaine, les villageois reconstruisent le scénario révolutionnaire. Cette commémoration particulière est l’objet du présent travail de recherche, par lequel nous tentons d’analyser comment est remémorée et interprétée aujourd’hui la Révolution kuna. Pour ce faire, nous nous sommes d'abord penchés sur l’événement même de la commémoration. Une analyse de sa forme nous amena à considérer l’ensemble commémoratif comme un nouveau rite au sein de la ritualité kuna. Nous argumentons que par sa forme carnavalesque, la commémoration permet aux villageois de repenser la relation dialectique entre l’État panaméen et l’autonomie kuna, de même qu’elle sert d’exutoire aux tensions internes. Ensuite, nous nous sommes intéressés aux diverses interprétations de cette étape de l’histoire kuna et panaméenne afin de cerner les différents intérêts impliqués dans la commémoration du soulèvement kuna. Enfin, le cœur de ce travail porte sur le rôle de la mémoire collective dans la construction et la réitération d'un discours identitaire, et ce, en analysant comment la mémoire de la révolution est transmise, reçue, interprétée et utilisée aujourd'hui.

Women Industrial Cooperatives- An Analysis of Its Structure, Performance and Growth in Kannur District

In the present study made an attempt to analyse the structure, performance and growth of women industrial cooperatives in kannur district, Kerala. The study encompasses all women industrial cooperatives registered at the district industries center, kannur and that currently exist. The women industrial cooperatives are classified into two ie; group with network and another group without network. In Kannur there are 54 units working as women industrial cooperatives. One of the main problems the women cooperatives face is the lack of working capital followed marketing problem. The competition between cooperatives and private traders is very high. The variables examined to analyse the performance of women industrial cooperatives in Kannur showed that there exists inter unit differences in almost all the variables. The financial structure structure shows that the short term liquidity of women cooperatives in Kannur favour more the units which have political networks; but the long term financial coverage is seen to be highly geared in this group, not because of a decline is net worth but due to highly proportionate increase in financial liabilities in the form of borrowings. The encouragement given by the government through financial stake and other incentives has been the major factor in the formation and growth of women cooperatives. As a result both productivity and efficiency improves in the cooperatives. In short the present study helped to capture the impact, role and dynamics of networking in general and socio political network in particular in relation to intra and inter unit differences on the structure, growth and performance of women industrial cooperatives societies in Kannur district

Benefits of Implementing Lean Practices and the Impact of the Lean Aerospace Initiative in the Defense Aerospace Industry and Government Agencies

In the 1980’s, many United States industrial organizations started developing new production processes to improve quality, reduce cost, and better respond to customer needs and the pressures of global competition. This new paradigm was coined Lean Production (or simply “Lean”) in the book The Machine That Changed The World published in 1990 by researchers from MIT’s International Motor Vehicle Program. In 1993, a consortium of US defense aerospace firms and the USAF Aeronautical Systems Center, together with the AFRL Materials and Manufacturing Directorate, started the Lean Aircraft Initiative (LAI) at MIT. With expansion in 1998 to include government space products, the program was renamed the Lean Aerospace Initiative. LAI’s vision is to “Significantly reduce the cost and cycle time for military aerospace products throughout the entire value chain while continuing to improve product performance.” By late 1998, 23 industry and 13 government organizations with paying memberships, along with MIT and the UAW were participating in the LAI.

Comparative performance of UK PFI and non-PFI hospitals

Since the first PFI hospital was established in 1994, many debates centred on the value for money and risk transfer in PFIs. Little concern is shown with PFI hospitals’ performance in delivering healthcare. Exploratory research was carried out to compare PFI with non‐PFI hospital performance. Five performance indicators were analysed to compare differences between PFI and non‐PFI hospitals, namely the length of waiting, the length of stay, MRSA infection rate, C difficile infection rate and patient experience. Data was collected from various government bodies. The results show that only some indexes measuring patient experience emerge statistically significant. This leads to a conclusion that PFI hospitals may not perform better than non‐PFI hospitals but they are not worse than non‐PFI hospitals in the delivery of services. However, future research needs to pay attention to reliability and validity of data sets currently available to undertake comparison.

Analyzing the performance of non-listed real estate funds: an panel data analysis

The rapid growth of non-listed real estate funds over the last several years has contributed towards establishing this sector as a major investment vehicle for gaining exposure to commercial real estate. Academic research has not kept up with this development, however, as there are still only a few published studies on non-listed real estate funds. This paper aims to identify the factors driving the total return over a seven-year period. Influential factors tested in our analysis include the weighted underlying direct property returns in each country and sector as well as fund size, investment style gearing and the distribution yield. Furthermore, we analyze the interaction of non-listed real estate funds with the performance of the overall economy and that of competing asset classes and found that lagged GDP growth and stock market returns as well as contemporaneous government bond rates are significant and positive predictors of annual fund performance.

Do IMF and World Bank programs induce government crises? an empirical analysis

We examine whether and under what circumstances World Bank and International Monetary Fund (IMF) programs affect the likelihood of major government crises. We find that crises are, on average, more likely as a consequence of World Bank programs. We also find that governments face an increasing risk of entering a crisis when they remain under an IMF or World Bank arrangement once the economy's performance improves. The international financial institution's (IFI) scapegoat function thus seems to lose its value when the need for financial support is less urgent. While the probability of a crisis increases when a government turns to the IFIs, programs inherited by preceding governments do not affect the probability of a crisis. This is in line with two interpretations. First, the conclusion of IFI programs can signal the government's incompetence, and second, governments that inherit programs might be less likely to implement program conditions agreed to by their predecessors.

Income differentials and corporate performance

Purpose – This paper seeks to make the case for new research into the perceived fairness and impact of executive pay. Design/methodology/approach – The paper reviews the literature regarding executive compensation and corporate performance and examines the evidence that a more egalitarian approach to pay could be justified in terms of long-term shareholder value. Findings – There would appear to be no evidence to suggest that the growing gap between the pay of executives and that of the average employee generates long-term enterprise value, and it may even be detrimental to firms, if not the liberal capitalist consensus on which the corporate licence to operate is based. Research limitations/implications – The paper outlines a new approach to tracking income differentials with corporate performance through the development of a corporate Gini coefficient “league table”. Social implications – The proposed research is expected to point towards better practice in executive remuneration, and support the growing momentum for a sustainable and enlightened approach to business, in which the key goal is long-term enterprise value based on a fair distribution of the rewards of business. Originality/value – In producing a deeper understanding of the impact of widening income differentials, the paper should be of interest to senior executives in publicly quoted companies as well as press commentators, government officials and academics.

Decentralization and education performance: a first view to the Brazilian process

This paper analyses the impact of the decentralization in educational system that is taking place in Brazil in the last decade, as a result of several laws that encourage municipalities to invest in fundamental education. The proficiency tests undertaken by the government allows to follow some public schools in two points in time. Therefore we were able to create an experimental group with the schools that were under state system in the SAEB exam and have migrated to the municipality system by the time of Prova Brasil and a control group with the schools that were under the state system between the two exams and compare the difference in their results using a fixed effect panel data analysis. The difference in difference estimator indicates that there is no significant change in the performance of the students.

Exogenous shocks and misattribution of responsibility for economic performance: results from survey experiments

Recent models of economic voting assume that citizens can discount exogenous factors when assessing government's economic performance. Yet there is evidence that Latin American voters do not behave in such way, and attribute to presidents outcomes that are beyond their control. This paper presents three survey experiments designed to explore mechanisms that could potentially correct such misattribution, and therefore contribute to debiasing individual behavior towards government evaluation. Our results provide individual-level evidence of the misattribution found in aggregate studies of electorate behavior, and reinforce psychologist's skepticism towards prospects of mental decontamination, as we found very scant evidence that providing information, raising awareness, or increasing motivation to correct biases infuenced individual's evaluation of president's performance.

Higher salaries, more teaching, better performance? The effects of the introduction of the minimum salary for teachers in Brazil

De acordo com a literatura empírica, há fortes evidências de que, após o controle de características socioeconômicas dos alunos, a qualidade dos professores é o fator mais importante para explicar o desempenho do aluno em testes padronizados. No entanto, não há consenso sobre como sistemas públicos de ensino podem melhorar a qualidade dos professores. Será que o pagamento de salários mais elevados a professores da rede pública impactam a qualidade dos professores nas escolas públicas? O Governo Federal brasileiro introduziu, em 2009, piso salarial nacional para os professores de escolas públicas, provocando um perceptível aumento exógeno dos salários dos professores municipais. O principal objetivo desta tese é avaliar os impactos de curto prazo da elevação linear e incondicional do salário do professor na qualidade da educação. Devido à ausência de dados secundários sobre o valor do salário-base de professores entre 2008 e 2013, tivemos que realizar um levantamento com as Secretarias Municipais de Educação para reunir informação sobre a estrutura da carreira docente e sobre os salários-bases nesse período. Com base em nossa pesquisa de campo, o primeiro capítulo investiga a conformidade dos sistemas municipais de ensino ao piso salarial nacional para professores de redes públicas. Encontramos que fatores não observáveis/observados são determinantes para explicar a variabilidade salarial verificada entre os municípios e o cumprimento da lei, o que embasa nossa estratégia de identificação com base em métodos de diferença em diferenças, combinados com pareamento com base em escore de propensão. O segundo capítulo centra-se na estimativa do impacto da elevação dos salários dos professores sobre a proficiência dos alunos de 5º ano do ensino fundamental municipal. De acordo com estes resultados, o aumento salarial incondicional não gerou uma expansão da proficiência escolar dos alunos, pelo menos no curto prazo. Embora não tenham sido detectados impactos na aprendizagem dos alunos, alguns mecanismos de transmissão do aumento salarial para melhores resultados educacionais podem já ter sido ativados. Assim, o principal objetivo do terceiro capítulo é avaliar o impacto dos aumentos de salário sobre a qualidade dos professores atuais e dos potenciais futuros professores. Avaliamos o impacto de aumentos de salário sobre o desempenho dos professores no ENADE, uma proxy de sua qualidade, e sobre a atratividade dos cursos de ensino superior associados à carreira docente. Essa atratividade é medida por meio da qualidade dos que entram nos respectivos cursos superiores, de acordo com seu desempenho no Enem. Neste último capítulo, aplicamos modelo de Tripla-Diferenças visando controlar dois tipos de potenciais fatores de confusão: (i) mudanças no desempenho dos professores (potenciais futuros professores) entre grupos de municípios, que foram submetidos ao tratamento e os que não foram tratados, que nada têm a ver com a política; e (ii) as alterações no desempenho de todos os professores (alunos) que vivem no município em que houve a elevação salarial devido à introdução da lei. As estimativas obtidas indicam que a elevação salarial gerou efeitos leves sobre a qualidade dos professores e sobre a atratividade dos cursos relacionados à carreira docente.

Tax performance and reform in the Organization of Eastern Caribbean States (OECS)

Includes bibliography