Competency models have been adopted in many organizations to focus systems for employee selection, training and development, and work engagement on the competencies identified by the organization as most important to its operations and strategic direction. Similarly, competency models can be...

The problem addressed is that of a condensed steady-state solution for the Markov Chain (X(t), S(t)). The steady state marginal distribution of S(t) is known; we desire only the steady state marginal distribution of X(t). Such a case frequently arises when the supplementary random variable S(t)...

We provide evidence on the role of commodity futures in portfolios comprised of stocks, bonds, T‐bills, and real estate. Over the period investigated (1973–1997), Markowitz optimization over a range of risk levels gives substantial weight to commodity futures, thereby enhancing the...

The claim that divided payments serve as signals to market participants is widely accepted. However, recent evidence has increased the uncertainty regarding the information conveyed when a firm drops its dividend. In particular, DeAngelo, DeAngelo, and Skinner (1992) and Healy and Palepu (1988)...