在循证医学时代下,依托规范的技术方法和标准化的操作规程发掘中医药独特优势,是实现中医药现代化、国际化发展并惠泽人类的必由之路。中医理论、人用经验和研究证据三结合证据体系的提出标志着中医药特色评价体系思维方法取得了重要进...在循证医学时代下,依托规范的技术方法和标准化的操作规程发掘中医药独特优势,是实现中医药现代化、国际化发展并惠泽人类的必由之路。中医理论、人用经验和研究证据三结合证据体系的提出标志着中医药特色评价体系思维方法取得了重要进步,经过恰当方法整合后的多元证据体是中医药临床指南推荐意见和循证卫生决策的有力支撑。本文基于当前国际证据合成与分级方法学前沿进展,初步提出中医药多元证据整合的方法学框架——MERGE(Merge Evidence-based Research and artificial intelliGence to support smart dEcision)框架,以期为中医药循证医学方法学体系的完善和发展提供借鉴和参考。展开更多
This survey investigated the relationship between executive compensation and the financial performance of companies. It is hypothesized that a company can utilize its pay system to direct executives＇ efforts toward i...This survey investigated the relationship between executive compensation and the financial performance of companies. It is hypothesized that a company can utilize its pay system to direct executives＇ efforts toward its strategic business objectives, thus contributing to higher levels of corporate financial performance. The survey data consisted of a secondary and non-probabilistic sample of 44 Brazilian industrial companies. In order to operationalize the independent remuneration variable, the authors used average monthly salary, average variable salary, and three indices that were created for this survey： benefits, career, and development. These indices measure the access to benefits, mechanisms for stimulating and supporting careers, and mechanisms to encourage education and professional development that companies offer to their directors, vice presidents, and chief executive officers （CEOs）, who are referred to in this paper by the term ＂executive＂. The remuneration data are from fiscal year 2006. In order to operationalize the financial performance variable, two accounting indicators were used： sales growth and return on equity （ROE） for fiscal years 2006 and 2007. The size of the companies was used as a control variable. The results of a multiple regression analysis do not support the hypothesis that there is a positive and significant relationship between executive compensation and corporate financial performance.展开更多
The purpose of this study is to analyze the valuation effects of cross-listing. The study has conducted a univariate analysis of the Tobin＇s Q and the market-to-book ratio for the period before and after the cross-li...The purpose of this study is to analyze the valuation effects of cross-listing. The study has conducted a univariate analysis of the Tobin＇s Q and the market-to-book ratio for the period before and after the cross-listing by using paired tests. Non-cross-listed firms are then included in multivariate regressions by using pooled Time Series Cross Section （TSCS） and Panel Corrected Standard Error （PCSE） regressions for a period of 13 years to find out if there is a difference in the valuations between cross-listed firms and non-cross-listed firms. The study＇s results indicate that the Tobin＇s Q of cross-listed-firms increases two years prior to cross-listing and that it continues to increase two years after cross-listing. The market-to-book ratios also show an increase two years prior to cross-listing and up to one year after cross-listing, then decrease in the second year after cross-listing. When non-cross-listed firms are included in the analysis, results indicate that cross-listed firms are valued higher than non-cross-listed firms. When data are portioned for positive earnings per share （EPS） and dividends, results indicate that valuation is the highest when EPS is positive. Since segmentation theories cannot be ruled out, the study＇s findings are more in support of the growth opportunity hypothesis.展开更多
文摘在循证医学时代下,依托规范的技术方法和标准化的操作规程发掘中医药独特优势,是实现中医药现代化、国际化发展并惠泽人类的必由之路。中医理论、人用经验和研究证据三结合证据体系的提出标志着中医药特色评价体系思维方法取得了重要进步,经过恰当方法整合后的多元证据体是中医药临床指南推荐意见和循证卫生决策的有力支撑。本文基于当前国际证据合成与分级方法学前沿进展,初步提出中医药多元证据整合的方法学框架——MERGE(Merge Evidence-based Research and artificial intelliGence to support smart dEcision)框架,以期为中医药循证医学方法学体系的完善和发展提供借鉴和参考。
文摘This survey investigated the relationship between executive compensation and the financial performance of companies. It is hypothesized that a company can utilize its pay system to direct executives＇ efforts toward its strategic business objectives, thus contributing to higher levels of corporate financial performance. The survey data consisted of a secondary and non-probabilistic sample of 44 Brazilian industrial companies. In order to operationalize the independent remuneration variable, the authors used average monthly salary, average variable salary, and three indices that were created for this survey： benefits, career, and development. These indices measure the access to benefits, mechanisms for stimulating and supporting careers, and mechanisms to encourage education and professional development that companies offer to their directors, vice presidents, and chief executive officers （CEOs）, who are referred to in this paper by the term ＂executive＂. The remuneration data are from fiscal year 2006. In order to operationalize the financial performance variable, two accounting indicators were used： sales growth and return on equity （ROE） for fiscal years 2006 and 2007. The size of the companies was used as a control variable. The results of a multiple regression analysis do not support the hypothesis that there is a positive and significant relationship between executive compensation and corporate financial performance.
文摘The purpose of this study is to analyze the valuation effects of cross-listing. The study has conducted a univariate analysis of the Tobin＇s Q and the market-to-book ratio for the period before and after the cross-listing by using paired tests. Non-cross-listed firms are then included in multivariate regressions by using pooled Time Series Cross Section （TSCS） and Panel Corrected Standard Error （PCSE） regressions for a period of 13 years to find out if there is a difference in the valuations between cross-listed firms and non-cross-listed firms. The study＇s results indicate that the Tobin＇s Q of cross-listed-firms increases two years prior to cross-listing and that it continues to increase two years after cross-listing. The market-to-book ratios also show an increase two years prior to cross-listing and up to one year after cross-listing, then decrease in the second year after cross-listing. When non-cross-listed firms are included in the analysis, results indicate that cross-listed firms are valued higher than non-cross-listed firms. When data are portioned for positive earnings per share （EPS） and dividends, results indicate that valuation is the highest when EPS is positive. Since segmentation theories cannot be ruled out, the study＇s findings are more in support of the growth opportunity hypothesis.
