Although there is consensus in the finance literature that the beta risk of equity securities is stochastic, there is considerable disagreement as to whether the var iation is purely random or exhibits autocorrelation through time. To investigate this issue, the authors employ a model that...

Control charts are used to monitor process characteristics and to detect changes in process levels. In many situations the deterioration of a process results in process levels that drift monotonically over time. In this paper we use two well-known order-restricted tests to construct new control...

This paper examines the forecasting accuracy and the cost effectiveness of time series models with time-varying coefficients. A simulation study investigates the potential forecasting benefits of a proposed Kalman filter type adaptive estimation and forecasting approach. It is found that: (1)...

The lively debate about converging or diverging management practices is not yet decided. Human resource management (HRM) is no exception. Using the widely discussed issue of HR specialists handing over HR tasks to line management as an example, the article analyses whether European companies in...