Search results

The purpose of this paper is to provide additional evidence that housing prices significantly impact aggregate refinancing and thus directly influence mortgage termination.

Regression analysis is applied to examine refinancing activity in US cities.

The evidence shows that positive appreciation in housing prices provides the borrower with positive incentives to refinance in response to the associated increased borrowing capacity when mortgage rates have declined. On the other hand, depreciation in housing prices may depress refinancing.

Housing price movements, not only collateral constraints on refinancing but also the disincentive to engage in cash‐out refinancing caused by depreciation as well as the incentive for cash‐out refinancing brought by appreciation, should be included in modeling total termination risks of mortgage‐backed securities.

In contrast to previous studies, this paper provides empirical support for both the incentive and the disincentive to engage in cash‐out refinancing produced by housing price changes, in addition to support for the traditional collateral constraint effect of housing prices on refinancing.

Suicide rates at the county level may be influenced by various macro-level factors emanating from surrounding communities. The purpose of this paper is to measure the extent of geographic spillover effects from socioeconomic factors on suicide rates.

Using county level, panel data over the years 2002-2007, a spatial dependence function is applied to measure how socioeconomic factors within surrounding counties may influence suicide rates in neighboring, adjacent counties in the state of TN.

A negative correlation is identified between divorce and suicide rates within each county, which seems to contradict traditional beliefs that these variables move together. Also contrary to expectations, unemployment and suicide are not significantly related within counties. When the analysis measures the spillover effects of surrounding communities, county-level variables such as income, crime, and church density are significant. And although the signs on income and crime are consistent with past findings, church density counters research expectations.

These results suggest that certain socioeconomic factors influence suicide in surrounding communities, while others do not. Incorporating spatial analysis into future research on suicide and mental health may assist practitioners with suicide prevention. Appropriate prevention policies should be designed and implemented at the local or regional level. Regional differences make broad policies based on national data inappropriate for local areas that differ from national norms.

Studies on the external links to suicide and suicide rates have made significant contributions to raise the understanding about mental health issues. Very few, however, have directly employed research methods to capture spillover effects when the study encompasses spatial elements.

The purpose of this research is to explore from a mass appraisal perspective how the effects of location are reflected within valuation models. The paper sets out to detail the various techniques and the efficacy of their application.

The approach adopted is analytical and based upon the development of locational attributes. An extensive literature base is synthesized with methods being evaluated in their application to mass appraisal.

This research has identified that the three main groups interested in residential property valuation, namely, academia, industry and commerce have to a certain extent been unfamiliar with the research developments occurring in the other groups. The impact of this is important, given the need for integration and collaboration in terms of future model development.

The research underpinning this paper will provide a solid basis for further research into this area. The importance of measuring the effect that location has on value is of major significance in the determination of objective estimates of property value.

Those within the assessment community could be described as pragmatists working in a situation that requires feasible and suitable solutions to the problem of measuring location value. It is our contention that the third generation techniques of spatially varying parameter models and spatial autocorrelation models will require greater industry verification before their use becomes more widely accepted.

This paper provides a detailed analysis of methodologies used to reflect the value of location over the last 50 years. The debate is taken forward by describing what will be the contribution to the development of the next generation of location‐specific modeling techniques.

This paper examines the evolution of the core academic leader development course at the United States Air Force Academy. The course serves as a key part of student leadership development integrated into all four years of a student’s education and their roles within the organization. The curriculum focuses on skills, character, and critical thinking in leadership contexts. The desired effect is to engage students where they are in their development and to train them in the practice of effective, professional team leadership within their teams and the larger organization. Assessment strategies such as reflection, journaling, self-assessment, and practiced application of course material are designed to fit into students’ leadership experiences so students apply what they learn in an immediate, relevant context.

A collection of essays by a social economist seeking to balance economics as a science of means with the values deemed necessary to man′s finding the good life and society enduring as a civilized instrumentality. Looks for authority to great men of the past and to today′s moral philosopher: man is an ethical animal. The 13 essays are: 1. Evolutionary Economics: The End of It All? which challenges the view that Darwinism destroyed belief in a universe of purpose and design; 2. Schmoller′s Political Economy: Its Psychic, Moral and Legal Foundations, which centres on the belief that time‐honoured ethical values prevail in an economy formed by ties of common sentiment, ideas, customs and laws; 3. Adam Smith by Gustav von Schmoller – Schmoller rejects Smith′s natural law and sees him as simply spreading the message of Calvinism; 4. Pierre‐Joseph Proudhon, Socialist – Karl Marx, Communist: A Comparison; 5. Marxism and the Instauration of Man, which raises the question for Marx: is the flowering of the new man in Communist society the ultimate end to the dialectical movement of history?; 6. Ethical Progress and Economic Growth in Western Civilization; 7. Ethical Principles in American Society: An Appraisal; 8. The Ugent Need for a Consensus on Moral Values, which focuses on the real dangers inherent in there being no consensus on moral values; 9. Human Resources and the Good Society – man is not to be treated as an economic resource; man′s moral and material wellbeing is the goal; 10. The Social Economist on the Modern Dilemma: Ethical Dwarfs and Nuclear Giants, which argues that it is imperative to distinguish good from evil and to act accordingly: existentialism, situation ethics and evolutionary ethics savour of nihilism; 11. Ethical Principles: The Economist′s Quandary, which is the difficulty of balancing the claims of disinterested science and of the urge to better the human condition; 12. The Role of Government in the Advancement of Cultural Values, which discusses censorship and the funding of art against the background of the US Helms Amendment; 13. Man at the Crossroads draws earlier themes together; the author makes the case for rejecting determinism and the “operant conditioning” of the Skinner school in favour of the moral progress of autonomous man through adherence to traditional ethical values.

Understanding social studies programs at science, technology, mathematics and engineering (STEM) schools is becoming increasingly important as the number of STEM schools grows. This study undertook a qualitative investigation into social studies programs at two STEM high schools. Interviews from social studies teachers, principals, and students were transcribed, coded, and analyzed. Additional data was collected through observation and document analysis. Findings highlighted social studies teachers’ perceptions that a strong social studies curriculum is essential to STEM education; the opportunities of interdisciplinary and technology integration afforded to social studies STEM teachers; and some of the challenges of teaching social studies in a STEM school. The researcher discusses the implications of these findings for stakeholders in the social studies to ensure citizens are equipped with the needed skill, knowledge, and dispositions to compete in a global and multicultural age.

Change is normal in a healthy economy, and is intrinsically driven by continued acquisition of new knowledge – both scientific and otherwise (Drucker, 1985). Continued acceleration of knowledge attainment provides context for what is arguably the twenty-first century’s single most critical socioeconomic characteristic: rapid change and continuous disruption of the free market (Carlson and Wilmot, 2006). In this unstable landscape, even the most resilient and successful companies, despite applying sound business management principles, are not immune to gradual erosion of their positions of growth and dominance (Christensen and Raynor, 2003). The life span of the average organization is shrinking, and a mainstay of past generations – “lifetime employment” – is no longer the status quo (Carlson and Wilmot, 2006, pp. 34-35).

Employees who wish to become leaders in the twenty-first century must develop the capability to exploit opportunities generated by the external pace of change and turn those opportunities into growth avenues for their organizations. Employees who master this process, and adopt the behaviors that drive it, will find themselves highly desirable to employers and in possession of a new version of the lifetime employment guarantee that stems from continuously creating value for their organizations. By understanding the relationship between innovation and organizational growth, organizations can better cultivate and leverage the multifaceted role that intrapreneurs can play in understanding the market, delivering value to the customer and formulating strategy.

Many organizations do not have the human resource capacities needed to create new growth. Managers at most established organizations have focused by necessity mainly on current operations. Doing this allows them and their employees to develop operational skills for solving problems related primarily to quality and cost-control, or to process implementation – but not for starting new growth areas (Christensen and Raynor, 2003, p. 179). While managers’ current responsibilities are important, this workload draws them away from focusing on new opportunities for the sake of monitoring current ones. The problems encountered and skills required for intrapreneurial action are very different from those needed to conduct “business as usual” operations; however, the capacity and skillset is critical to develop so that the organization as a whole can experience long-term growth. Therefore, organizations need intrapreneurial leaders who have learned and practiced these skills through experience – leaders who demonstrate not only a deep knowledge of their market and how to create new customer value, but also a sustained commitment to turning that knowledge into a real source of growth for their organization. Fortunately, there is incentive for both organizations and employees to progress in this direction.

Organizations will benefit from the longevity provided by new growth if they make efforts to promote and foster intrapreneurial behavior by their employees and managers. Managers and employees, in turn, will benefit by becoming leaders who find themselves more and more employable, as organizations shift to hiring people who possess intrapreneurial skills. The significant value here is that innovation facilitated by intrapreneurs practically enhances organizational growth overall. The result is a future of growth and opportunity for both individuals and organizations alike, in which both the knowledge and the passion of intrapreneurial leadership light the way through the unfamiliar business environment of the twenty-first century.

This paper presents an interactionistic perspective that proposes three hypotheses: (1) Cultures have a life of their own: they change due to interactions in the cultural ecology; (2) Different modalities of a culture change at different paces and to different extents; (3) There appears to be an isomorphism between economic performance and cultural change. Should a cultural explanation of the Asian “growth” and “fall” be sought, it would be more meaningful to link economic performance to changes in Confucianism than to the static perception of that tradition. Managers should give more attention to the processes and impacts of cultural change in organizational behaviors in, especially, emerging markets.

Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way of using the law in specific circumstances, and shows the variations therein. Sums up that arbitration is much the better way to gok as it avoids delays and expenses, plus the vexation/frustration of normal litigation. Concludes that the US and Greek constitutions and common law tradition in England appear to allow involved parties to choose their own judge, who can thus be an arbitrator. Discusses e‐commerce and speculates on this for the future.

In my original efforts, I designated and depicted no less than nine “men” of economics. Essentially, I contended, as man has always tended to create God in his own image and likeness, so economists have fashioned man largely in their discipline's perceived nature and scope. These generic homines economici, that is, have thus been and perhaps cannot really be other than economists' “men”, and the study thereof provides accordingly a meaningful alternative approach to the history, nature and scope of economics itself.