Showing papers on "Proxy (statistics) published in 1983"
TL;DR: In this paper, the authors examined a sample of firms experiencing proxy contests for seats on their board of directors and found that regardless of proxy contest outcome, positive and statistically significant share price performance was associated with the contest.
960 citations
TL;DR: In this article, a longer data series is used, an improved tariff discrimination proxy is employed, and "predicted sales" are estimated and used as the output variable in the empirical work, a variable to capture the effect of the US capital control programs is also included.
205 citations
45 citations
TL;DR: In this paper, the authors discuss the results of previous empirical and theoretical work relating to multiple objectives and report on a survey carried out in 1978 by means of a questionnaire circulated to the top 500 companies.
Abstract: This paper fnst discusses the results of previous empirical and theoretical work relating to multiple objectives. It then reports on a survey carried out in 1978 by means of a questionnaire circulated to the top 500 companies. The paper finds that despite strong evidence of multiple objectives, the profit motive is dominant, although there is evidence of growth as a significant objective.
Proxy goals for a single primary objective function are found to be present, particularly in relation to risk. Finally, the implications of these results for accounting and finance are discussed.
28 citations
TL;DR: Results, based on a Tobit analysis that predicts elasticities for the price and proxy variables, are consistent with the theoretical model implying that economic incentives and patient payment probabilities are important determinants of assignment rates.
18 citations
TL;DR: It is argued that a widely-held principle which appeals to the counterfactual wishes of the incompetent person is unacceptable and proposed in its place a principle having to do with the best interests of the patient.
Abstract: I discuss conditions for the validity of proxy consent to treatment on behalf of an incompetent person. I distinguish those incompetents who, when previously competent, expressed an opinion on the treatment in question from those who were never competent or who, though previously competent, never expressed an opinion on the proposed treatment. In the former case valid proxy consent usually requires respecting the stated wishes of the patient. The latter case is more difficult. I consider a widely-held principle which appeals to the counterfactual wishes of the incompetent person. I argue that it is unacceptable and propose in its place a principle having to do with the best interests of the patient.
10 citations
9 citations
6 citations
TL;DR: In this article, the authors used the common factor methodology to derive the appropriate dynamics of the unemployment/help-wanted index relation, and found that the dynamic equation chosen does not exhibit significant instability, either within the estimation period (1965-78) or beyond it (1979-80).
Abstract: A number of articles have analysed the stability of the observed inverse relationship between US unemployment and the index of help-wanted advertising (a proxy for unfilled job vacancies). However, the ‘baseline’ estimating equations used are often static and at best involve rather limited and ad hocdynamics. This note uses the ‘common factor’ methodology to derive systematically the appropriate dynamics of the unemployment/help-wanted index relation. In contrast with a simple static formulation the dynamic equation chosen does not exhibit significant instability, either within the estimation period (1965–78) or beyond it (1979–80).
3 citations
3 citations
TL;DR: In this paper, a series of equations is estimated in which the dependent variable is housing price and the independent variables include household income, and the strength of the relationship between income and value weakens as the length of tenure in the housing unit increases.
Abstract: The residential property tax is often criticized because housing value may not be a good measure of a household's ability to pay. To examine this criticism, a series of equations is estimated in which the dependent variable is housing price and the independent variables include household income. While the coefficient on income is always significant, it has little explanatory power. Further, the strength of the relationship between income and value weakens as length of tenure in the housing unit increases. Because housing value is a poor proxy for income, modifications to the tax structure such as tax deferment and curcuit breaker programs must be used to improve the viability of property taxation in terms of the ability-to-pay principle.
TL;DR: A new statistical proxy, called suboptimal plant capacity, is developed and empirically analyzed for a large sample of census industries, and has a clear relationship to the ratio of actual to optimal plant sizes.