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This research uses data from 2,470 not-for-profit-organizations (NFPOs) to examine the impact of organization size, risk, and complexity on monitoring costs in the NFP sector. OLS regression analysis indicate that monitoring costs are higher for (a) larger NFPOs, (b) NFPOs subject to the Single Audit Act, 8 NFPOs having larger amounts of assets tied up in receivables and inventories, (d) NFPOs spending a larger percentage of their expenses on program support services, and (e) NFPOs providing higher compensation to their officers and directors. In addition, some NFPOs such as schools and hospitals are associated with higher monitoring costs.

The purpose of this paper is to examine the nature and extent of instability of capital asset pricing model (CAPM) beta in a small emerging capital market.

Inter‐period as well as intra beta instability are examined. Inter‐period instability is examined by Mann‐Whitney z‐scores and Blume's regressions. Intra‐period beta instability is examined using Bruesch‐Pagan LM test and Chow break point test. Robustness tests are performed applying time‐varying parameter models.

Beta instability increases with increase in holding (sample) periods. There is evidence of inter‐period as well as intra‐period beta instability. Analysis of the full eight‐year interval reveals a very high incidence of beta instability, namely, about 26 per cent of the individual stocks tested and about 31 per cent of individual stocks have structural break. The extent of beta instability does not significantly decline when corrected for non‐synchronous trading and thin trading as represented by Dimson beta. However, the extent of beta instability is similar to that of developed market. Time‐varying parameter model under Kalman filter approach using AR(1) specification performs better than any other models in terms of in‐sample forecast errors. Dominance of AR(1) approach suggests that stock betas in DSE are time varying, and shocks to the conditional beta have some degree of persistence which ultimately reverts to a mean. This result is in contrast to the findings of Faff et al. revealing the dominance of Random Walk specification in Australian market, suggesting that shocks to stock beta in Australian market persist indefinitely into the future. These contrasting findings may indicate that beta instability in different markets and for different stocks in the same market are of different nature and different models may be suitable for different markets and different stocks in the same market in capturing the time‐varying nature of beta coefficients.

This study covers only 110 stocks of Dhaka Stock Exchange. It can be extended to include more stocks. The study can also be done in other developing markets.

While the issues of beta instability have been extensively explored for developed markets, evidence for emerging markets is less readily available. The present study contributes to the emerging market literature on beta instability by investigating the extent of beta instability and its time‐varying properties in Dhaka Stock Exchange (DSE), Bangladesh. Understanding the systematic risk behaviour of individual stocks in DSE is important for both local and international investors. With the saturation of investment opportunities in developed markets due to their high integration, and with the enhanced deregulation and liberalization of emerging economies, emerging financial markets like DSE provide suitable and a relatively safe investment environment for international investors and fund managers seeking global diversification for better risk‐return trade‐offs. When most of the world markets declined during the recent global financial crisis, stock prices in DSE experienced a continuous rise. This makes it more interesting as an emerging market to study beta instability.

We study research designs where a binary treatment changes discontinuously at the border between administrative units such as states, counties, or municipalities, creating a treated and a control area. This type of geographically discontinuous treatment assignment can be analyzed in a standard regression discontinuity (RD) framework if the exact geographic location of each unit in the dataset is known. Such data, however, is often unavailable due to privacy considerations or measurement limitations. In the absence of geo-referenced individual-level data, two scenarios can arise depending on what kind of geographic information is available. If researchers have information about each observation’s location within aggregate but small geographic units, a modified RD framework can be applied, where the running variable is treated as discrete instead of continuous. If researchers lack this type of information and instead only have access to the location of units within coarse aggregate geographic units that are too large to be considered in an RD framework, the available coarse geographic information can be used to create a band or buffer around the border, only including in the analysis observations that fall within this band. We characterize each scenario, and also discuss several methodological challenges that are common to all research designs based on geographically discontinuous treatment assignments. We illustrate these issues with an original geographic application that studies the effect of introducing copayments for the use of the Children’s Health Insurance Program in the United States, focusing on the border between Illinois and Wisconsin.

The purpose of this paper is to examine the predictive ability of different well-known models for capturing time variation in betas against a novel approach where the beta coefficient is treated as a function of market return.

Different GARCH models, the Kalman filter algorithm and the Schwert and Seguin model are used against our novel approach. The mean square error, the mean absolute error and the Diebold and Mariano test statistic constitute the measures of forecast accuracy. All models are tested over nine consecutive years and three different samples.

The results show substantial differences in predictive accuracy among the samples. The new approach of modelling the systematic risk overwhelms the rest of the models in longer samples. In the smallest sample, the Kalman filter random walk model prevails. The examination of parameters between two groups of stocks with best and worst accuracy results depicts significant variations. For these stocks, the iid assumption of return is rejected and large differences exist on diagnostic tests.

This study contributes to the literature with different ways. First, it examines the predictive accuracy of betas with different well-known models and introduces a novel approach. Second, after constructing betas from the estimated models’ parameters, they are used for out-of-sample instead of in-sample forecasts over nine consecutive years and three different samples. Third, a more closely examination of the models’ parameters could signal at an early stage the candidate models with the expected lowest forecasting errors. Finally, the study carries out some diagnostic tests for examining whether the existence of iid normal returns is accompanied by better performance.

The librarian and researcher have to be able to uncover specific articles in their areas of interest. This Bibliography is designed to help. Volume IV, like Volume III, contains features to help the reader to retrieve relevant literature from MCB University Press' considerable output. Each entry within has been indexed according to author(s) and the Fifth Edition of the SCIMP/SCAMP Thesaurus. The latter thus provides a full subject index to facilitate rapid retrieval. Each article or book is assigned its own unique number and this is used in both the subject and author index. This Volume indexes 29 journals indicating the depth, coverage and expansion of MCB's portfolio.

Asserts that any benchmarking activity to improve service performance must develop a combined external and internal perspective. Offers advice on benchmarking techniques, useful measurement approaches and how they can be used effectively.

Public Health Engineering Services can be briefly defined as providing:

In this chapter, we reflect on how we frame our research on international scholarship programs within the field of comparative and international education and identify perspectives that influence our research. We also briefly describe the theories that shape our research: human capital theory and sociological perspectives that emphasize the centrality of context. We discuss emerging research on international scholarship programs and identify fruitful future directions for comparative and international research on higher education.