Increases in the school-age population, maximum class size requirements in various states and the No Child Left Behind Act’s mandate of a “highly qualified teacher” in every classroom collectively will increase the demand for teachers. However, public school teachers are exiting the...

The telecommunications industry is undergoing a radical transformation, creating exciting new opportunities and new challenges for infrastructure and service providers. The established value chain is increasingly being deconstructed, with the entry of powerful new players and radical...

This paper examines the relationship between annual report readability and firm performance. This is motivated by the Securities and Exchange Commission’s plain English disclosure regulations that attempt to make corporate disclosures easier to read for ordinary investors. I measure the...

This paper studies the estimation of a semi-strong GARCH(1,1) model when it does not have a stationary solution, where semi-strong means that we do not require the errors to be independent over time. We establish necessary and sufficient conditions for a semi-strong GARCH(1,1) process to have a...

For autoregressive moving average (ARMA) models with infinite variance innovations, quasi-likelihood-based estimators (such as Whittle estimators) suffer from complex asymptotic distributions depending on unknown tail indices. This makes statistical inference for such models difficult. In...

Does culture, and in particular religion, exert an independent causal effect on long-term economic growth, or do culture and religion merely reflect the latter? We explore this issue by studying the case of Protestantism in China during the late nineteenth and early twentieth centuries....

VAG—a prototype animated, interactive, three-dimensional virtual environment model of a supply chain in the agribusiness sector has been developed as a CD-based game of strategy. Users (players) have to both create their supply chain by choosing the components that make it up, and then play...