Generalized Bonferroni mean operators in multi-criteria aggregation

In this paper we provide a systematic investigation of a family of composed aggregation functions which generalize the Bonferroni mean. Such extensions of the Bonferroni mean are capable of modeling the concepts of hard and soft partial conjunction and disjunction as well as that of k-tolerance and k-intolerance. There are several interesting special cases with quite an intuitive interpretation for application.

Risk assessment with female sex offenders : can women meet the criteria of community protection laws?

Although females represent a small proportion of the sex offender population, they occasionally appear before the courts under the current generation of laws intended to protect the public from high-risk sex offenders. In this context, practitioners are called upon to provide assessment of the risk these women pose for sexual re-offending. The primary issues addressed in this paper are related to the validity of conducting such risk assessments and providing professional opinions as to the risk of further sexual offences that may be committed by female offenders. The approach taken is to summarize briefly the available professional literature regarding female sex offenders, and then to present the findings of the relatively few empirical studies that address sexual recidivism in females. The final section examines the positions taken in the published works of various international experts regarding risk assessment with females, followed by conclusions and recommendations in light of the standards typically prescribed by community protection laws.

Foreign direct investment and exports : the experiences of Vietnam

We examined the implementation statuses of a total of 5,919 foreign direct investment (FDI) projects approved by the Vietnamese Ministry of Planning and Investment since 1988, and compiled a database of actually disbursed FDI in Vietnam. The database covers FDI flows into Vietnam from 23 countries from 1990 to 2004. Using the data, we analyzed the impact of FDI on the exports of Vietnam with gravity equations. The empirical results demonstrate that FDI is one of the major factors driving the rapid export growth of Vietnam. It has significantly facilitated the expansion of Vietnam's exports to FDI source countries. In particular, the empirical analysis shows that a 1 percent increase in FDI inflows will be expected to give rise to a 0.13 percent increase in Vietnam's exports to these countries.

Does accounting choice influence US investment in non-US companies? Evidence from US institutional investment in Australian companies

Previous research asserts that companies that choose accounting methods more familiar to investors reduce information asymmetry and increase credibility of their financial statements to those investors, thereby attracting higher levels of foreign investment. This study examines the variation in accounting policies associated with institutional investment in Australian equity. The results suggest that large US institutional holdings in Australian companies are associated with American Depositary Receipt listing and, incrementally, choice of accounting methods that conform to US Generally Accepted Accounting Principles (GAAP). Although making accounting choices in compliance with US GAAP is significantly associated with higher levels of institutional ownership in a statistical sense, examination of the specific differences in accounting choices suggests that the differences in informational content are relatively minor.

Different personality measures for different business outcomes : a comparison of selection criteria used for a management training program

Reports a study in which the MBTI, FIRO-B and PP measures were correlated with employee performance indicators of high potential candidates for management development. The participants were 37 middle level managers in a large trans-national company. Results indicate a disturbing disconnect between measures used in training and development and actual business outcomes that can be presumed to express organisational priorities and goals.

Factors affecting the site of investment, and the reliance on savings for arctic breeders : the capital–income dichotomy revisited

The extent to which migratory birds that breed in the Arctic and winter in southern biomes rely on residual body stores for reproduction is unresolved. The short arctic summer and the limited availability of food early in the season constrain the time available for successful reproduction. Birds that are able to bring sufficient endogenous reserves to the breeding ground to meet, at least partially, the demands of egg-laying can initiate clutch production soon after arrival, thereby shortening the length of the breeding season and improving the chances of reproductive success. The amount of reserves available will be influenced by body size, the increased energetic and predation costs associated with carrying large stores, distances between staging sites and the location of the breeding grounds within the Arctic. Birds need not fly directly to the breeding grounds from the established temperate staging sites. Extensive feeding by migrants may occur in the Arctic, even within a few kilometres of the breeding sites as the birds track the retreating snowline. Irrespective of their size, birds are thus able to store some resources necessary for egg laying at local or regional scales. It is thus important to make a distinction between local capital and distant capital breeding. The extent to which a bird is characterized as a distant capital, local capital, or an income breeder not only varies between species, but also between individuals and seasons.

Dynamically opted protection envelope (DOPE) - A cost-effective strategy of insuring an investment portfolio

Popular ways of hedging downside risk of a stock portfolio is by means of a constant proportion portfolio insurance (CPPI) strategy or by means of an options-based portfolio insurance strategy (OBPI). However both have drawbacks in terms of practical applicability given transaction costs. Moreover they are not useful in times of very low liquidity e.g. in a market crash. Here we shall first review the common portfolio insurance techniques and then posit an alternative approach using a zero-coupon bond to extract downside coverage to the extent desired by an investor. While the posited strategy will not guarantee full downside protection for the entire investment horizon, it is unaffected by transaction costs resulting from need to periodically reallocate funds and is a lot easier to implement practically compared to options-based strategies. Unlike CPPI and OBPI, it will work in a crash situation too.