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This study aims to examine the intertemporal changes in the institutional ownership of publicly traded bank holding companies (BHCs) in the USA. The role of owned-subsidiary investing in the portfolio decisions is investigated as compared to unaffiliated banks and non-bank institutional investors.

The authors apply panel regressions that control bank-fixed and time-fixed effects to study the impact of prudence, liquidity, information advantages and historical returns on each type of the institutional ownership from 1986 to 2014.

The subsidiary banks tend to invest in more shares of their parent BHCs when they are traded for a short period of time and when they have low-market risk, low turnover, a low capital equity ratio and great reliance on off-balance activities. However, the impact of these determinants of institutional ownership is opposite for unaffiliated banks and non-bank institutions.

This study provides evidence that the criteria used by subsidiary banks to invest in their parent company stock are different than the unaffiliated banks and non-bank institutions, raising concerns about the owned-subsidiary investing activities and banks’ trustees’ duty to work in the best interest of their trust clients.

This paper provides a comprehensive analysis of the level and market value of BHC institutional ownership over the past three decades and the impact of different determinants on the ownership of BHCs by subsidiary banks, unaffiliated banks and non-bank institutional investors.

The purpose of this paper is to study and prioritize the problems impacted on construction work together migrant laborers, by using the Delphi technique. The case study is construction work in Bangkok and metropolitan zones, Thailand.

The framework of the perceived issues caused by working with migrant construction labors especially migrant construction laborers from neighboring countries were identified from literature reviews. The issue list was sent to 162 experts seeking for their opinions. Subsequently, a questionnaire was created from 58 items of suitable issue lists according to expert's opinions. The questionnaires were then submitted to 147 respondents from construction contractor companies. Their responses were calculated and prioritized by means of the Delphi technique

The polling data showed its constancy on the second round of survey. There were 34 out of 58 items passed consensus criteria. The issue “Foreman obtained incompetent or inadequate trained migrant labors when relocate them from/to other site or job” ranked 1st in priority ranking with the average score of 4.56. Subproblems were appropriately prioritized according to their mean scores.

The results of this research were expected to facilitate construction operators in making appropriate decisions and primary solution concerning main issue factors in working with migrant labors, in order to help even more increasing competition efficiency in Thai construction industries.

The research provides a list of main issue occurred in the case study. These outcomes are also expected to provide important information for other case studies on the issue working with migrant construction labor.

The purpose of this paper is to develop an yield-based process capability index (PCI), C _py, to overcome the shortcomings of existing PCIs that limit their use and lead to inaccurate measures of quality conformance under a variety of common conditions.

–C _py is developed conceptually to flexibly and accurately reflect conformance and then used to numerically measure inaccuracies of C _pk.

–C _py overcomes many of the problems associated with existing PCIs, including C _pk. The degree of process distribution non-normality, level of quality (the sigma level), and whether the process is centered or shifted left or right affect the direction and size of process capability error produced by C _pk. The accuracy of C _pk can be greatly affected by process data that deviate even slightly from normality.

–C _py offers numerous advantages compared to existing PCIs. It accurately reflects process conformance regardless of the process distribution. It is applicable even if the process has multiple characteristics and with both variable and attribute data. Its calculation is relatively simple and the necessary data for it are likely already captured by most organizations.

The main contributions are the development of a new PCI, C _py; a conceptual analysis of its advantages; and a numerical analysis of the improved accuracy of C _py as compared to C _pk for shifted and non-shifted process means for normal, nearly normal, and highly non-normal distributions over a range of process variability levels.

This chapter investigates the relative magnitude of the benefits of global diversification from the viewpoint of domestic investors in various countries by forming time-rolling efficient frontiers. To enhance feasibility of asset allocation strategies, the constraints of short-sales and over-weighting investments are taken into account. The empirical results suggest that local investors in less developed countries, particularly in Latin America, East Asia, and Southern Europe, comparatively benefit more from global diversification. Investors in the countries of civic-law origin tend to benefit more from global investment than the ones in the common-law states. Although the global market has become more integrated over the past decades, diversification benefits for domestic investors declined but did not vanish. The results of this chapter are useful for asset management professionals to determine target markets to promote the sales of international funds.

This chapter aims at providing an understanding of the research and devlopment (R&D) process in the pharmaceutical industry, by exploring the methodological challenges and approaches in the assessment of the determinants of innovation in the pharmaceutical industry. It (i) discusses possible methodological approaches to model occurrence of events; (ii) describes in detail competing risks duration models as the best methodological option in light of the nature of pharmaceutical R&D processes and data; (iii) concludes with an estimation strategy and overview of potential covariates that have been found to correlate with the likelihood of failure of R&D pharmaceutical projects.

This study aims to propose an integrated view and emphasize the importance of bank intangible value binding in customers' robo-advisory adoption. It explores the relationship between robo-advisors and traditional banking and defines the role of bank intangible assets value. It also attempts to understand if trust in the banking institution and the financial consultant determines the effect of these relationships.

The target sample of the study was investors who currently use wealth management services. This study collected 228 valid questionnaires and then executed structural equation model analysis to test the hypotheses.

Results showed that intangible value bindings play a mediating role, which positively affects consumers' willingness to adopt robo-advisors. Consumers' trust in banks and financial consultants are antecedent variables, which positively affect the intangible value bindings between consumers and banks. In addition, when the consumers' investment amount is higher, it will weaken the positive relationship between the intangible value binding and robo-advisor adoption intention.

Most of the past studies have focused on whether robo-advisors would replace personal financial consultants. This study proposes a hybrid model that contains both robo-advisors and traditional banking services, which encourage the acceptance of robo-advisors.

The problem of laminar natural convection from a vertical circular cone maintained at either a uniform surface temperature or a uniform surface heat flux, and placed in a thermally stratified medium is considered. The governing non‐similarity boundary layer equation for uniform surface temperature are analyzed by using two distinct solution methodologies; namely, (i) a finite difference method and (ii) a local non‐similarity method. For uniform surface heat flux case, the solutions of the governing non‐similarity boundary layer equations are obtained by using three distinct solution methodologies, namely, (i) a finite difference method, (ii) a series solution method and (iii) an asymptotic solution method. The solutions are presented in terms of local skin‐friction and local Nusselt number for different values of Prandtl number and are displayed graphically. Effects of variations in the Prandtl number and stratification parameter on the velocity and temperature profiles are also shown graphically. Solutions obtained by finite difference method are compared with the other methods and found to be in excellent agreement.

In this book the terms ‘clean language’ and ‘clean language interviewing’ are written using lower case, according to the convention of the American Psychological Association (sixth edition). ‘Clean language interviewing’ is sometimes abbreviated to CLI.

The purpose of this paper is to examine the impact of post-trade transparency on price efficiency and price discovery.

The authors use an exogeneous change in market transparency in the Taiwan Stock Exchange that mandates the disclosure of unexecuted orders of the five best bid and ask prices after each trade, and conduct an event study analysis.

After the change, price efficiency enhances for both large and small firms, although the impact on stock prices is greater when the firm is larger. The authors also find that post-change trading reveals more private information for large firms but more public information for small firms. The findings support the view that transparency has a positive impact on market quality.

The paper adds to a large body of literature investigating the relationship between transparency and market behavior, especially the ongoing debate about whether trading transparency positively affects price dynamics. The findings also have important policy implications for the regulators.