We study 6,686 IPOs spanning the period 1981-2005 and find that the new issues puzzle disappears in a Fama-French three-factor framework. IPOs do not underperform in the aftermarket on a risk-adjusted basis and do not underperform a matched sample of non-issuers. IPO underperformance is concentrated in the 1980’s and early 1990’s, and IPO’s either perform the same as the market, or outperform o...

We show that a one-sector real business cycle model with mild increasing returns-toscale and variable capital utilization is able to produce qualitatively realistic business cycles driven solely by aggregate demand shocks. In particular, a positive government spending shock can lead to simultaneous increases in output, consumption, investment, employment, labor productivity and the real wage. O...

background : despite an increased need, residents of rural communities have decreased access to healthcare and often present unique healthcare challenges associated with their rurality. ensuring medical students receive adequate exposure to these issues is complicated by the urban location of most medical schools. health fairs (fairs) conducted in rural communities can provide students exposure...

While more and more people are relying on social media for news feeds, serious news consumers still resort to well-established news outlets for more accurate and in-depth reporting and analyses. They may also look for reports on related events that have happened before and other background information in order to better understand the event being reported. Many news outlets already create sideb...

Advancements in information and communication technologies have enhanced our possibilities to communicate worldwide, eliminating borders and making it possible to interact with people coming from other cultures like never happened before. Such powerful tools have brought us to reconsider our concept of privacy and social involvement in order to make them fit into this wider environment. It is p...

Methods Four towns and two rural districts of the Republic of Bashkortostan (Russia) were chosen for the questionnaire. The total number of the childhood population was 50442 children under 17 years of age. Totally 43907 children or their parents were examined with the help of the screening questionnaire. The parents were questioned by medical nurses during consulting reception hours, or in kin...

Transition from socialist to capitalist economy led to enormous changes in earnings and employment. In our study a long-horizon descriptive analysis is presented about the major trends, including the last fifteen years of socialism. Education, gender, calendar time, age and vintage effects are separately analyzed. Aggregate (quasi-) panel analysis is used to assess the role of labor demand and ...

This letter deals with the problem of fluctuating target detection in heavy-tailed -distributed clutter over a number of independent coherent intervals, e.g., in the case of a long observation interval (“stare mode”), or that of independent (range) resolution cells as per the track before detect techniques. The generalized likelihood ratio test for the problem at hand is derived, as well as an ...