David Tucek recently gave a careful explanation of how to construct a life table. This paper briefly reviews part of that paper, extends the discussion to joint life expectancy, and finally moves on to the construction of life annuities, joint life annuities, deferred and temporary life annuities, comparing each to annuities for fixed periods, called annuities certain. The paper is based on Microsoft Excel tables from the US Life Tables, 2005. The real product, though, is the extension of those Excel tables that allows calculation of the relevant annuities for all combinations of interest rate, age pairs for the joint tables, and periods of annuity deferral or temporary annuities. Life expectancy is the probability of survival for one year, plus the probability of survival for 2 years, ...
Previous study shows that equity structure and cultural difference are important factors that influence the performance of joint ventures (JVs). Based on the JVs contract database and Import/Export ranking database we collected, our analysis shows that the performance of monopoly controlled JVs is better that others under the domestic market situation. However, cultural difference is not the hindering factor to performance; in fact, heterogeneity has provided JVs better outcomes. Based on grouped data samples, it is believed that a higher ratio of Chinese equity in JVs will create better export performance. However, the relation between foreign equity and import orientation is not significant.
By the end of the nineteenth century, the banking systems of England and New England were very different. England possessed a small number of large-scale clearing banks that had established extensive branch networks and dominated the domestic market. In contrast, New England banking was characterized by a large number of small-scale institutions. Yet, a century earlier, there were striking similarities between the two systems. An analysis of their evolution over the course of the nineteenth century provides an international and comparative perspective on the continuing debate over banking institutions, lending patterns, and economic growth.
There has been a considerable degree of interest in the notion of joint consultation committee (JCC). In this paper, we examine process of JCC in Malaysian and Indonesian postal industries. The research focused on the implementation of JCC as a form of employee participation, followed by an evaluation of the model that best explained the practices in the postal industries. Both analysis were based on the work of Marchington (1992; 1994). Research findings indicate the adjunct model best explains the practices of JCC, whereas both JCC and collective bargaining (CB) have an integrative relationship for the beneficial of management and employees.
Much like the ham and eggs they dish up on a Sunday morning every other year, Republicans and Democrats in this small Wyoming County town have concocted a unique and appealing recipe for clean elections and good government. Together -- that's right, together -- they host a breakfast and auction, a kind of biennial bipartisan reminder of why politics in their small slice of the world is so different than, say, Albany or Washington.
We investigate the shareholder wealth effects of 233 joint venture announcements of Dutch public companies in the period 1987 till 1998. The research shows that, on average, establishing joint ventures has a positive effect on the market value of Dutch companies. Using the strategic characteristics of joint ventures it is possible to explain and understand these wealth effects. Our research shows that the factors of strategic intention, the context in which the strategy is unfolded and the extent to which the company has control over the implementation strongly explains the extent to which a joint venture can create value (JEL G14, G15, G34 , F23).
Based on the transactional theory of international joint ventures, we examine the stock price reactions for B-shares of the Chinese partners during the Sino-foreign venture announcements. Significant and positive announcement effects are found in the Shanghai and Shenzhen stock markets. We also attempt to identify determinants of the shareholders value creation. Four variables, namely geographic origin, size of foreign partners, status of Chinese partners and China's country risk, are found to be significant in the regression models.
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