Job Market Signaling and Employer Learning This paper extends the job market signaling model of Spence (1973) by allowing firms to learn the ability of their employees over time. Contrary to the model without employer learning, we find that the Intuitive Criterion does not always select a unique separating equilibrium. When the Intuitive Criterion bites and information is purely asymmetric, the...

This study extends from Liu and Mei (1992) by further investigation of assets, real estate related securities, which includes both equity and mortgage real estate investment trusts (REITs), the stocks of builderand owner-companies, and mortgagebacked securities (MBSs). There are five major findings. First, expected excess returns of real estate related securities are more predictable than the e...

Complementarity of vehicles and fuels has posed significant barrier for increasing the use of alternative fuels in place of traditional ones. An initial positive number of either alternative fuel vehicle (AFV) users or alternative fueling stations are needed for the diffusion of both. This research examines the incentive of the automotive industry, in particular automobile companies focusing on...

BACKGROUND Rotavirus infection has been reported to be responsible for the majority of severe diarrhea in children under-5-years-old in Indonesia. Breast milk is considered to give protection against rotavirus infection. Increasing breastfeeding promotion programs could be an alternative target to reduce the incidence of rotavirus diarrhea. This study aims to investigate the effect of breastfee...

Tujuan dari penelitian ini adalah untuk mengetahui pengaruh target market terhadap keputusan pembelian, positioning pembelian dan promotion pembelian. Selain itu juga market, secara bersama-sama di CV. Maestro. Penelitian menggunakan sumber data primer sekunder yang diperoleh langsung dengan menyebarkan kuesioner sebanyak 80 kepada responden. Metode pengambilan sampel non probabilitas teknik pu...

In a model with endogenous number of innovating firms, we show that whether patent protection increases R&D investment is ambiguous, and depends on the market demand function and the cost of R&D. If the market size increases with number of firms, patent protection reduces R&D investment if the cost of R&D is sufficiently high, and higher product differentiation increases the possibility of lowe...

This paper presents the case for and the evidence in favour of passive investment strategies and examines the major criticisms of the technique. I conclude that the evidence strongly supports passive investment management in all markets—smallcapitalisation stocks as well as large-capitalisation equities, US markets as well as international markets, and bonds as well as stocks. Recent attacks on...