{"title":"Frequency Based Analysis of Voting Rules","authors":"Swarnendu Chatterjee, Ton Storcken","doi":"10.26481/umagsb.2017006","DOIUrl":"https://doi.org/10.26481/umagsb.2017006","url":null,"abstract":"In a large electorate it is natural to consider voters’ preference profiles as frequency distributions over the set of all possible preferences. We assume coherence in voters’ preferences resulting in accumulation of voters preferences. We show that such distributions can be studied via superpositions of simpler so called unimodal distributions. At these, it is shown that all well-known rules choose the mode as the outcome. We provide a set of sufficient conditions for a rule to have this trait of choosing the mode under unimodal distributions. Further we show that Condorcet consistent rules, Borda rule, plurality rule are robust under tail-perturbations of unimodal distributions.","PeriodicalId":275677,"journal":{"name":"GSBE research memoranda","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133234799","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Only the brave? Risk and time preferences of decision makers and firms’ investment in worker training","authors":"A. Jansen, H. Pfeifer, Julia Raecke","doi":"10.26481/umaror.2017002","DOIUrl":"https://doi.org/10.26481/umaror.2017002","url":null,"abstract":"In this paper, we study the relation between decision makers’ preferences and training investments of their firms. First, we develop a theoretical framework, which takes the possibility into account that individual preferences of decision makers may influence firm behavior with respect to training. We then develop and test the hypothesis that the willingness to take risks or the preference for future profits of decision makers is positively related and procrastination negatively related to firms’ investment in worker training. Using unique firm-level data, including both person-level preference measures and firm-level information about training costs, we find empirical support for our hypothesis. Training investment is higher in firms with risk-inclined decision makers and lower in firms with procrastinating decision makers. The preference for future profits is relevant for training participation and the number of trained workers, but not for the training investment per worker. The results imply that firms have scope to adjust their profit-maximizing strategies by taking the individual preferences of their decision makers into account.","PeriodicalId":275677,"journal":{"name":"GSBE research memoranda","volume":"136 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123591380","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Work-related learning and skill development in Europe: Does initial skill mismatch matter?","authors":"M. F. Sequeda, Annemarie Künn, A. Grip","doi":"10.1108/S0147-912120170000045010","DOIUrl":"https://doi.org/10.1108/S0147-912120170000045010","url":null,"abstract":"This paper provides more insight into the relevance of the assumption of human capital theory that the productivity of job-related training is driven by the improvement of workers' skills. We analyse the extent to which training and informal learning on the job are related to employee skill development and consider the heterogeneity of this relationship with respect to workers' skill mismatch at job entry. Using data from the 2014 European Skills Survey, we find – as assumed by human capital theory – that employees who participated in training or informal learning show greater improvement of their skills than those who did not. The contribution of informal learning to employee skill development appears to be larger than that of training participation. Nevertheless, both forms of learning are shown to be complementary. This complementarity between training and informal learning is related to a significant additional improvement of workers' skills. The skill development of workers who were initially underskilled for their job seems to benefit the most from both training and informal learning, whereas the skill development of those who were initially overskilled benefits the least. Work-related learning investments in the latter group seem to be more functional in offsetting skill depreciation than in fostering skill accumulation.","PeriodicalId":275677,"journal":{"name":"GSBE research memoranda","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133450603","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Oh What a Beautiful Morning! The Time of Day Effect on the Tone and Market Impact of Conference Calls","authors":"J. Chen","doi":"10.2139/SSRN.2186862","DOIUrl":"https://doi.org/10.2139/SSRN.2186862","url":null,"abstract":"Using textual analysis software, we examine whether and how the tone of the question and answer (\"QA more negatively toned conversations are associated with more negative abnormal stock returns during the call period and immediately thereafter. Notwithstanding the negativity associated with later day calls, firms exhibit significant \"stickiness\" in their choice of call time; having initiated the earnings conference call in the afternoon in the prior quarter is the most significant determinant of their doing so in the current quarter, dominating the sign of the earnings news and alternative measures of the firm’s need for equity capital. Analysis of post-call (50 days) returns indicates that there is an initial negative overreaction to bad news earnings information and, incrementally, to calls initiated in the afternoon, that eventually reverses. In contrast, the negative impact of tone deterioration on stock returns, documented here, does not reverse. To the best of our knowledge, this is the first study to document the effects of human physiological and mental factors on corporate communications with investors.","PeriodicalId":275677,"journal":{"name":"GSBE research memoranda","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115742501","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Is investing in apprentices related to decision-makers' altruism and their high time preference?","authors":"Anika Jansen, Robert Schuman Platz, Bonn","doi":"10.26481/umagsb.2016010","DOIUrl":"https://doi.org/10.26481/umagsb.2016010","url":null,"abstract":"In this article, the relation between firms’ engagement in apprenticeship training and two important economic preferences, i.e. the decision maker’s altruism and time preference, is analyzed. Firstly, the relation between these two preferences and a firm’s decision to provide apprenticeship places (extensive margin) is examined. Secondly, for firms that train, the effect on the amount of investments in apprenticeship training (intensive margin) is analyzed. The results show that the degree of altruism of a decision maker is positively, albeit weakly significant, associated to the probability to provide apprenticeship places as well as substantially related to the amount of investments in apprenticeship training. Time preferences are not related to the training decision (extensive margin) but significantly related to the amount of investments in training.","PeriodicalId":275677,"journal":{"name":"GSBE research memoranda","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121351984","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Manpower forecasting in the western world: The current state of the art","authors":"Patrick van Eijs","doi":"10.26481/umaror.199401e","DOIUrl":"https://doi.org/10.26481/umaror.199401e","url":null,"abstract":"","PeriodicalId":275677,"journal":{"name":"GSBE research memoranda","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125027547","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
R. Bosker, Rolf K W Van Der Velden, Peet J E Van De Loo
{"title":"Differential effects of colleges on the labour market success of their graduates","authors":"R. Bosker, Rolf K W Van Der Velden, Peet J E Van De Loo","doi":"10.26481/umaror.199701e","DOIUrl":"https://doi.org/10.26481/umaror.199701e","url":null,"abstract":"This paper explores the effects of colleges for higher vocational education on the labour market success of their graduates. Using data about the labour market position of Dutch graduates from higher vocational education, and applying multi-level statistical modelling techniques it is shown that for four domains (finding a job, level of job, monthly wages, and wages per hour) the colleges did hardly differ substantially. Most of the institutional variation occured at the department level within the colleges, but these department effects appeared to be small as well and not always very stable over the years. The discussion focuses on the implication for using labour market data for the construction of institutional performance indicators. It is shown that the ranking of colleges on their labour market performance changes as soon as input variables are controlled for. It is therefore important to look at the ‘net'' outcomes or ‘added value'' rather than the ‘gross'' outcomes.","PeriodicalId":275677,"journal":{"name":"GSBE research memoranda","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129087755","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Will the source of demand shifts please stand up? Steady demand or Acceleration","authors":"Arnaud Dupuy","doi":"10.26481/umaror.200304e","DOIUrl":"https://doi.org/10.26481/umaror.200304e","url":null,"abstract":"In this paper we analyse wage inequality and decompose the shifts in the relative demand for skilled workers into a skill-biased technological change effect and a capital-skill complementarity e¤ect. We estimate the skill premium in the Netherlands from 1969 to 1996 and ...nd that between 1969-1982 demand shifts are due to skill-biased technological change only while since 1982, the capital-skill complementarity explanation accounts for 1/3 of the demand shifts. Using forecasts of the relative supply of skilled workers we predict the skill premium to 2020 for di¤erent scenarios of the change in the stock of capital. In our worst scenario, if the stock of capital increases steadily at a yearly rate of 5% (its highest historical rate between 1982-1996) wage inequality would rise by 21% in 2020. This rising wage inequality results from shifts in the relative demand for skilled workers initiated for 3/4 by the capitalskill complementarity. We conclude that the position of unskilled workers is less undermined by skill-biased technological change than it is by persistently cheaper capital and their ever decreasing share in total costs. JEL Classi...cation: D33, J11 and J38.","PeriodicalId":275677,"journal":{"name":"GSBE research memoranda","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123377887","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"GSBE Research Memoranda, 2019","authors":"","doi":"10.26481/umagsb-2019","DOIUrl":"https://doi.org/10.26481/umagsb-2019","url":null,"abstract":"","PeriodicalId":275677,"journal":{"name":"GSBE research memoranda","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133012327","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Forecasting flows into and out of apprenticeship training: a scenerio approach","authors":"A. Grip, H. Berendsen, L. Borghans, R. Dekker","doi":"10.26481/umaror.199402e","DOIUrl":"https://doi.org/10.26481/umaror.199402e","url":null,"abstract":"• A submitted manuscript is the version of the article upon submission and before peer-review. There can be important differences between the submitted version and the official published version of record. People interested in the research are advised to contact the author for the final version of the publication, or visit the DOI to the publisher's website. • The final author version and the galley proof are versions of the publication after peer review. • The final published version features the final layout of the paper including the volume, issue and page numbers.","PeriodicalId":275677,"journal":{"name":"GSBE research memoranda","volume":"309 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115228071","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}