An 'Ideal' Decomposition of Industry Dynamics: An Application to the Nationwide and State Level U.S. Banking Industry

This paper considers the aggregate performance of the banking industry, applying a modified and extended dynamic decomposition of bank return on equity. The aggregate performance of any industry depends on the underlying microeconomic dynamics within that industry . adjustments within banks, reallocations between banks, entry of new banks, and exit of existing banks. Bailey, Hulten, and Campbell (1992) and Haltiwanger (1997) develop dynamic decompositions of industry performance. We extend those analyses to derive an ideal decomposition that includes their decomposition as one component. We also extend the decomposition, consider geography, and implement decomposition on a state-by-state basis, linking that geographic decomposition back to the national level. We then consider how deregulation of geographic restrictions on bank activity affects the components of the state-level dynamic decomposition, controlling for competition and the state of the economy within each state and employing fixed- and random-effects estimation for a panel database across the fifty states and the District of Columbia from 1976 to 2000.

Foreign and Domestic Bank Performances: An Ideal Decomposition of Industry Dynamics

The aggregate performance of the banking industry depends on the underlying microlevel dynamics within that industry. adjustments within banks, reallocations between banks, entries of new banks, and exits of existing banks. This paper develops a generalized ideal dynamic decomposition and applies it to the return on equity of foreign and domestic commercial banks in Korea from 1994 to 2000. The sample corresponds to the Asian financial crisis and the final stages of a long process of deregulation and privatization in the Korean banking industry. The comparison of our findings reveals that the overall performance of Korean banks largely reflects individual bank efficiencies, except immediately after the Asian financial crisis where restructuring played a more important role on average bank performance. Moreover, Korean regional banks started the restructuring process about one year before the Korean nationwide banks. Foreign bank performance, however, largely reflected individual bank efficiencies, even immediately after the Asian financial crisis.

Decomposition Rates and Nitrogen Release of Turf Grass Clippings

Decomposition rates and N release patterns of turfgrass clippings from lawns are not well understood. Litter bags containing clippings were inserted into the thatch layer of a coolseason turf. The experiment was arranged as a 2 × 4 factorial in a randomized complete block design with three replicates. Treatments included four rates of N fertilizer (0, 98, 196, and 392 kg N ha-1 yr-1) and two clipping treatments (returned vs. removed). Litter bags were removed periodically over the growing season and samples were analyzed for biomass, N and C concentrations, and C:N ratio on an ash-free basis. Percentage N loss from the clippings after 16 weeks ranged from 88% to 93% at the 0 and 392 kg N ha-1 rates, respectively, and from 86% to 94% when clippings were removed (CRM) or returned (CRT), respectively. Percentage C loss from the clippings ranged from 94% to 95% at the 0 and 392 kg N ha-1 rates, respectively, and from 92% to 96% with CRM and CRT, respectively. Cumulative N release was similar across N fertilization rates, (ranging from 131 g N kg-1 to 135 g N kg-1 tissue) but was higher for CRT (151 g N kg-1 tissue) than for CRM (128 g N kg-1 tissue). Grass clippings decomposed rapidly and released N quickly when returned to the turf thatch layer. This indicates the potential for reduced N fertilization when clippings are returned. Such rapid decomposition also suggests that the contribution of grass clippings to thatch development is negligible.

Extension of k-ratio methods to rank-based analyses

An extension of k-ratio multiple comparison methods to rank-based analyses is described. The new method is analogous to the Duncan-Godbold approximate k-ratio procedure for unequal sample sizes or correlated means. The close parallel of the new methods to the Duncan-Godbold approach is shown by demonstrating that they are based upon different parameterizations as starting points.^ A semi-parametric basis for the new methods is shown by starting from the Cox proportional hazards model, using Wald statistics. From there the log-rank and Gehan-Breslow-Wilcoxon methods may be seen as score statistic based methods.^ Simulations and analysis of a published data set are used to show the performance of the new methods. ^

A SIMULATION STUDY OF THE SIZE AND POWER OF SOME TWO-SAMPLE TESTS FOR UNEQUALLY CENSORED SURVIVAL DATA (RANK TESTS, LOGRANK, PROPORTIONAL HAZARDS, WILCOXON TESTS, EXPONENTIAL DISTRIBUTION)

Sizes and power of selected two-sample tests of the equality of survival distributions are compared by simulation for small samples from unequally, randomly-censored exponential distributions. The tests investigated include parametric tests (F, Score, Likelihood, Asymptotic), logrank tests (Mantel, Peto-Peto), and Wilcoxon-Type tests (Gehan, Prentice). Equal sized samples, n = 18, 16, 32 with 1000 (size) and 500 (power) simulation trials, are compared for 16 combinations of the censoring proportions 0%, 20%, 40%, and 60%. For n = 8 and 16, the Asymptotic, Peto-Peto, and Wilcoxon tests perform at nominal 5% size expectations, but the F, Score and Mantel tests exceeded 5% size confidence limits for 1/3 of the censoring combinations. For n = 32, all tests showed proper size, with the Peto-Peto test most conservative in the presence of unequal censoring. Powers of all tests are compared for exponential hazard ratios of 1.4 and 2.0. There is little difference in power characteristics of the tests within the classes of tests considered. The Mantel test showed 90% to 95% power efficiency relative to parametric tests. Wilcoxon-type tests have the lowest relative power but are robust to differential censoring patterns. A modified Peto-Peto test shows power comparable to the Mantel test. For n = 32, a specific Weibull-exponential comparison of crossing survival curves suggests that the relative powers of logrank and Wilcoxon-type tests are dependent on the scale parameter of the Weibull distribution. Wilcoxon-type tests appear more powerful than logrank tests in the case of late-crossing and less powerful for early-crossing survival curves. Guidelines for the appropriate selection of two-sample tests are given. ^

Effect of patient accrual patterns on power and size of log-rank test for time-to-event outcome in clinical trials

The determination of size as well as power of a test is a vital part of a Clinical Trial Design. This research focuses on the simulation of clinical trial data with time-to-event as the primary outcome. It investigates the impact of different recruitment patterns, and time dependent hazard structures on size and power of the log-rank test. A non-homogeneous Poisson process is used to simulate entry times according to the different accrual patterns. A Weibull distribution is employed to simulate survival times according to the different hazard structures. The current study utilizes simulation methods to evaluate the effect of different recruitment patterns on size and power estimates of the log-rank test. The size of the log-rank test is estimated by simulating survival times with identical hazard rates between the treatment and the control arm of the study resulting in a hazard ratio of one. Powers of the log-rank test at specific values of hazard ratio (≠1) are estimated by simulating survival times with different, but proportional hazard rates for the two arms of the study. Different shapes (constant, decreasing, or increasing) of the hazard function of the Weibull distribution are also considered to assess the effect of hazard structure on the size and power of the log-rank test. ^

Decomposition of $\rm R\times C$ contingency table chi -square: Application to binned DNA fragment size data and population structure analysis

The purpose of this research is to develop a new statistical method to determine the minimum set of rows (R) in a R x C contingency table of discrete data that explains the dependence of observations. The statistical power of the method will be empirically determined by computer simulation to judge its efficiency over the presently existing methods. The method will be applied to data on DNA fragment length variation at six VNTR loci in over 72 populations from five major racial groups of human (total sample size is over 15,000 individuals; each sample having at least 50 individuals). DNA fragment lengths grouped in bins will form the basis of studying inter-population DNA variation within the racial groups are significant, will provide a rigorous re-binning procedure for forensic computation of DNA profile frequencies that takes into account intra-racial DNA variation among populations. ^

Soil characteristics and decomposition of organic matter on Anchorage, Signy and Falkland Islands

Antarctic terrestrial ecosystems have poorly developed soils and currently experience one of the greatest rates of climate warming on the globe. We investigated the responsiveness of organic matter decomposition in Maritime Antarctic terrestrial ecosystems to climate change, using two study sites in the Antarctic Peninsula region (Anchorage Island, 67°S; Signy Island, 61°S), and contrasted the responses found with those at the cool temperate Falkland Islands (52°S). Our approach consisted of two complementary methods: (1) Laboratory measurements of decomposition at different temperatures (2, 6 and 10 °C) of plant material and soil organic matter from all three locations. (2) Field measurements at all three locations on the decomposition of soil organic matter, plant material and cellulose, both under natural conditions and under experimental warming (about 0.8 °C) achieved using open top chambers. Higher temperatures led to higher organic matter breakdown in the laboratory studies, indicating that decomposition in Maritime Antarctic terrestrial ecosystems is likely to increase with increasing soil temperatures. However, both laboratory and field studies showed that decomposition was more strongly influenced by local substratum characteristics (especially soil N availability) and plant functional type composition than by large-scale temperature differences. The very small responsiveness of organic matter decomposition in the field (experimental temperature increase <1 °C) compared with the laboratory (experimental increases of 4 or 8 °C) shows that substantial warming is required before significant effects can be detected.

Relaciones de similitud y valor discriminativo de los indicadores bibliométricos: el caso de los indicadores de Scimago Journal and Country Rank aplicados a las revistas generalistas de paleontología

Los objetivos de este trabajo son: (1) analizar las relaciones de similitud de los indicadores bibliométricos; y (2) estudiar el valor de estos para discriminar/agrupar revistas científicas. Como unidades de estudio se utilizaron los 15 indicadores brindados por SCImago Journal Rank (SCImagoJR), aplicados a las 11 revistas paleontológicas generalistas listadas en dicha fuente durante el lapso 1999-2013. Las relaciones de similitud entre los indicadores se estimaron mediante un fenograma, mientras que el valor de los indicadores para agrupar/discriminar revistas se estimó mediante un análisis de componentes principales. Los resultados permiten concluir que, al menos para las revistas consideradas en este estudio, los 15 indicadores utilizados por SCImagoJR muestran redundancia por grupos, debido a las correlaciones existentes entre indicadores de producción, por una parte, y de citación, por otra. Sin embargo, esto es válido solo a los efectos de agrupar las revistas, ya que al considerar cada indicador por separado se aprecian variaciones entre los mismos, que permiten establecer una caracterización más específica de cada revista e, incluso, colaboran a explicar los resultados del análisis multivariado. Por otra parte, los resultados coinciden con los obtenidos por otros autores al reunir en un mismo grupo al SJR y al número de citas/documento en un período de dos años y en otro al índice h y al indicador número total de citas en un lapso de tres años.

Relaciones de similitud y valor discriminativo de los indicadores bibliométricos: el caso de los indicadores de Scimago Journal and Country Rank aplicados a las revistas generalistas de paleontología

Los objetivos de este trabajo son: (1) analizar las relaciones de similitud de los indicadores bibliométricos; y (2) estudiar el valor de estos para discriminar/agrupar revistas científicas. Como unidades de estudio se utilizaron los 15 indicadores brindados por SCImago Journal Rank (SCImagoJR), aplicados a las 11 revistas paleontológicas generalistas listadas en dicha fuente durante el lapso 1999-2013. Las relaciones de similitud entre los indicadores se estimaron mediante un fenograma, mientras que el valor de los indicadores para agrupar/discriminar revistas se estimó mediante un análisis de componentes principales. Los resultados permiten concluir que, al menos para las revistas consideradas en este estudio, los 15 indicadores utilizados por SCImagoJR muestran redundancia por grupos, debido a las correlaciones existentes entre indicadores de producción, por una parte, y de citación, por otra. Sin embargo, esto es válido solo a los efectos de agrupar las revistas, ya que al considerar cada indicador por separado se aprecian variaciones entre los mismos, que permiten establecer una caracterización más específica de cada revista e, incluso, colaboran a explicar los resultados del análisis multivariado. Por otra parte, los resultados coinciden con los obtenidos por otros autores al reunir en un mismo grupo al SJR y al número de citas/documento en un período de dos años y en otro al índice h y al indicador número total de citas en un lapso de tres años.

Relaciones de similitud y valor discriminativo de los indicadores bibliométricos: el caso de los indicadores de Scimago Journal and Country Rank aplicados a las revistas generalistas de paleontología

Los objetivos de este trabajo son: (1) analizar las relaciones de similitud de los indicadores bibliométricos; y (2) estudiar el valor de estos para discriminar/agrupar revistas científicas. Como unidades de estudio se utilizaron los 15 indicadores brindados por SCImago Journal Rank (SCImagoJR), aplicados a las 11 revistas paleontológicas generalistas listadas en dicha fuente durante el lapso 1999-2013. Las relaciones de similitud entre los indicadores se estimaron mediante un fenograma, mientras que el valor de los indicadores para agrupar/discriminar revistas se estimó mediante un análisis de componentes principales. Los resultados permiten concluir que, al menos para las revistas consideradas en este estudio, los 15 indicadores utilizados por SCImagoJR muestran redundancia por grupos, debido a las correlaciones existentes entre indicadores de producción, por una parte, y de citación, por otra. Sin embargo, esto es válido solo a los efectos de agrupar las revistas, ya que al considerar cada indicador por separado se aprecian variaciones entre los mismos, que permiten establecer una caracterización más específica de cada revista e, incluso, colaboran a explicar los resultados del análisis multivariado. Por otra parte, los resultados coinciden con los obtenidos por otros autores al reunir en un mismo grupo al SJR y al número de citas/documento en un período de dos años y en otro al índice h y al indicador número total de citas en un lapso de tres años.