Adjusted Margin

Adjusted Margin

Author: Kate Eichhorn

Publisher: MIT Press

Published: 2016-02-19

Total Pages: 216

ISBN-13: 0262033968

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How xerography became a creative medium and political tool, arming artists and activists on the margins with an accessible means of making their messages public. This is the story of how the xerographic copier, or “Xerox machine,” became a creative medium for artists and activists during the last few decades of the twentieth century. Paper jams, mangled pages, and even fires made early versions of this clunky office machine a source of fear, rage, dread, and disappointment. But eventually, xerography democratized print culture by making it convenient and affordable for renegade publishers, zinesters, artists, punks, anarchists, queers, feminists, street activists, and others to publish their work and to get their messages out on the street. The xerographic copier adjusted the lived and imagined margins of society, Eichhorn argues, by supporting artistic and political expression and mobilizing subcultural movements. Eichhorn describes early efforts to use xerography to create art and the occasional scapegoating of urban copy shops and xerographic technologies following political panics, using the post-9/11 raid on a Toronto copy shop as her central example. She examines New York's downtown art and punk scenes of the 1970s to 1990s, arguing that xerography—including photocopied posters, mail art, and zines—changed what cities looked like and how we experienced them. And she looks at how a generation of activists and artists deployed the copy machine in AIDS and queer activism while simultaneously introducing the copy machine's gritty, DIY aesthetics into international art markets. Xerographic copy machines are now defunct. Office copiers are digital, and activists rely on social media more than photocopied posters. And yet, Eichhorn argues, even though we now live in a post-xerographic era, the grassroots aesthetics and political legacy of xerography persists.


Extensive Margin Adjustment of Multi-Product Firm and Risk Diversification

Extensive Margin Adjustment of Multi-Product Firm and Risk Diversification

Author: Carlos Carvalho

Publisher: International Monetary Fund

Published: 2017-06-30

Total Pages: 44

ISBN-13: 148430702X

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Product scope adjustment is a key mechanism through which multi-product firms achieve efficient resource allocations. In this paper, we take a novel perspective to study firms’ product scope adjustment behavior through the lens of asset pricing. Using a unique panel scanner data set containing detailed information on products, matched with the financial information of their manufacturers, we find that multi-product firms with higher product turnover have lower financial risks and lower risk premia. To understand this channel, we propose a stylized model with a time-dependent (Calvo-type) product turnover rate to highlight the ’risk absorption channel’ of product scope adjustment. In response to an economy-wide shock, a firm that can adjust its product scope more flexibly shows lower excess equity returns and lower asset volatility.


Adjusted Margin

Adjusted Margin

Author: Kate Eichhorn

Publisher: MIT Press

Published: 2016-09-16

Total Pages: 216

ISBN-13: 0262334348

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How xerography became a creative medium and political tool, arming artists and activists on the margins with an accessible means of making their messages public. This is the story of how the xerographic copier, or “Xerox machine,” became a creative medium for artists and activists during the last few decades of the twentieth century. Paper jams, mangled pages, and even fires made early versions of this clunky office machine a source of fear, rage, dread, and disappointment. But eventually, xerography democratized print culture by making it convenient and affordable for renegade publishers, zinesters, artists, punks, anarchists, queers, feminists, street activists, and others to publish their work and to get their messages out on the street. The xerographic copier adjusted the lived and imagined margins of society, Eichhorn argues, by supporting artistic and political expression and mobilizing subcultural movements. Eichhorn describes early efforts to use xerography to create art and the occasional scapegoating of urban copy shops and xerographic technologies following political panics, using the post-9/11 raid on a Toronto copy shop as her central example. She examines New York's downtown art and punk scenes of the 1970s to 1990s, arguing that xerography—including photocopied posters, mail art, and zines—changed what cities looked like and how we experienced them. And she looks at how a generation of activists and artists deployed the copy machine in AIDS and queer activism while simultaneously introducing the copy machine's gritty, DIY aesthetics into international art markets. Xerographic copy machines are now defunct. Office copiers are digital, and activists rely on social media more than photocopied posters. And yet, Eichhorn argues, even though we now live in a post-xerographic era, the grassroots aesthetics and political legacy of xerography persists.


Extensive Margin Adjustment of Multi-Product Firm and Risk Diversification

Extensive Margin Adjustment of Multi-Product Firm and Risk Diversification

Author: Carlos Carvalho

Publisher: International Monetary Fund

Published: 2017-06-30

Total Pages: 44

ISBN-13: 1484303768

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Product scope adjustment is a key mechanism through which multi-product firms achieve efficient resource allocations. In this paper, we take a novel perspective to study firms’ product scope adjustment behavior through the lens of asset pricing. Using a unique panel scanner data set containing detailed information on products, matched with the financial information of their manufacturers, we find that multi-product firms with higher product turnover have lower financial risks and lower risk premia. To understand this channel, we propose a stylized model with a time-dependent (Calvo-type) product turnover rate to highlight the ’risk absorption channel’ of product scope adjustment. In response to an economy-wide shock, a firm that can adjust its product scope more flexibly shows lower excess equity returns and lower asset volatility.


Making Sense of Intellectual Capital

Making Sense of Intellectual Capital

Author: Daniel Andriessen

Publisher: Routledge

Published: 2004-02-18

Total Pages: 456

ISBN-13: 1136386602

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Peter Drucker has introduced us all to the knowledge era, where knowledge is the primary resource and intangibles (intellectual capital resources and assets) are now largely recognized as the most important sources of organizations' competitive advantage. With the recognition of the importance of Intangibles comes the problem of how to properly identify them and assign them a value within the corporation. This is an area of concern in 5 fields: 1) accounting and financial reporting, 2) performance measurement and management, 3) valuation in the finance field, 4) the Human Resources field in terms of management, strategy, and planning, and 5) Intellectual Capital. Over the past eight years, over 25 methods have been proposed for the valuation of intangibles coming out of these 5 fields. In this book, Andriessen evaluates 25 existing methods of intangible valuation according to highly developed criteria. In performing his evaluations, Andriessen synthesizes the state of the art research from these fields based on extensive research. He then presents his own method for valuing intangibles, which he began developing and testing as a Senior Manager at KPMG Knowledge Advisory Services in The Netherlands. He relates six case studies in which this method was tested in actual companies, carefully reviews the results of his tests, and then concludes by offering a new and improved method for valuing intangibles in his Weightless Wealth Toolkit, a complete step-by-step process for identifying, valuing, and managing Intangibles to help managers operate successfully in the Intangible Economy.


Margin Lending

Margin Lending

Author: United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy

Publisher:

Published: 2000

Total Pages: 72

ISBN-13:

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Gains from Trade with Flexible Extensive Margin Adjustment

Gains from Trade with Flexible Extensive Margin Adjustment

Author: Chang-Tai Hsieh

Publisher:

Published: 2016

Total Pages:

ISBN-13:

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We propose a new sufficient statistic to measure the gains from trade in models where the extensive margin trade elasticity is not necessarily constant. This statistic is a function of one data moment, the market share of continuing domestic products, and one parameter, the elasticity of substitution between products. It measures the gains from trade in a Ricardian model with any productivity distribution or a Melitz model with any productivity distribution and any pattern of selection into production and exporting. We apply our statistic to measure Canada's gains from the Canada-US Free Trade Agreement and find that they are smaller than suggested by statistics that assume a constant extensive margin response of trade.