scholarly journals In-House and Arm’s Length: Productivity Heterogeneity and Variation in Organizational Form

2020 ◽  
Author(s):  
Stephen F Lin ◽  
Catherine Thomas ◽  
Arturs Kalnins
Keyword(s):  
Organizational Form ◽  
Fixed Costs ◽  
Control Rights ◽  
Performance Incentives ◽  
High Productivity ◽  
The Us ◽  
Hotel Chains ◽  
A Chain ◽  
Property Control ◽  
Occupancy Rates

Abstract This paper analyzes firm boundaries in the US hotel industry. Hotel properties of a given brand are often managed either by a chain employee or by a franchisee. We document that brand properties with the lowest and the highest occupancy rates are more likely to be managed at arm’s length by franchisees. Variation in organizational form is consistent with a model in which the incentives embodied in management contracts vary with property-level productivity. We infer that most hotel chains franchise low-productivity relationships to keep property-level fixed costs low and franchise the most productive relationships to create high-powered incentives for franchisees. Franchisees of high-productivity properties face stronger incentives than the managers of both chain-managed properties and low-productivity franchises because the performance incentives in franchise contracts are proportional to hotel revenues and complement the incentives from franchisees’ property control rights. (JEL D23, F12, L23, D22)

Parish and Place

2017 ◽  
Author(s):  
Tricia Colleen Bruce
Keyword(s):  
Catholic Church ◽  
Local Level ◽  
The United States ◽  
Organizational Form ◽  
Black Catholics ◽  
Perceived Need ◽  
Latin Mass ◽  
The Us ◽  
Structural Responses ◽  
Depth Interviews

The Catholic Church stands at the forefront of an emergent majority-minority America. Parish and Place tells the story of how the largest US religion is responding at the local level to unprecedented cultural, racial, linguistic, ideological, and political diversification among American Catholics. Specifically, it explores bishops’ use of personal parishes—parishes formally established not on the basis of territory, but purpose. Today’s personal parishes serve an array of Catholics drawn together by shared identities and preferences rather than shared neighborhoods. Their contemporary application permits Catholic leaders to act upon the perceived need for named, specialist organizations alongside the more common territorial parish, designed to serve all in its midst. Parish and Place documents the US Catholic Church’s earlier move away from national parishes and more recent renewal of the personal parish as an organizational form. In-depth interviews and national survey data detail the rise and rationale behind new parishes for the Traditional Latin Mass, for Vietnamese Catholics, for Black Catholics, and more. Featuring insights from bishops, priests, and diocesan leaders throughout the United States, chapters offer a rare view of institutional decision-making from the top. The book is at once a demonstration of structural responses to diversity across wider conceptions of space, and a look at just how far fragmentation can go before it challenges cohesion and unity.

Potential Effects of Recent Road Transportation Accidents on Radioactive Material Shipments

2008 ◽  
Author(s):  
Christopher S. Bajwa ◽  
Earl P. Easton ◽  
Darrell S. Dunn ◽  
Robert E. Shewmaker
Keyword(s):  
Spent Nuclear Fuel ◽  
Nuclear Regulatory Commission ◽  
The United States ◽  
Radioactive Material ◽  
Road Transportation ◽  
Concrete Walls ◽  
The Us ◽  
A Chain ◽  
Safe Transport ◽  
Regulatory Commission

In 2007, two severe transportation accidents, involving primarily long-haul tractor trailers, occurred in the State of California. In the first, which occurred in Oakland in the “MacArthur Maze” section of Interstate 580, a tractor trailer carrying gasoline impacted an overpass support column and burst into flames. The subsequent fire, which burned for over 2 hours, led to the collapse of the overpass onto the remains of the tractor trailer, due to the loss of strength in the steel exposed to the fire. The second incident was a chain-reaction accident involving several tractor trailers in the I-5 “Newhall Pass” truck bypass tunnel in Santa Clarita. This accident also involved an intense fire that damaged the tunnel and required the closing of the tunnel for repairs to the concrete walls. The US Nuclear Regulatory Commission is studying both these accidents to examine any potential regulatory implications related to the safe transport of radioactive materials and spent nuclear fuel in the United States. This paper will provide a summary of that effort.

scholarly journals 1163 Nickel, Dime or Dollar: Breaking Down Broken Notions of Cost in Sleep Diagnostics

SLEEP ◽  
2020 ◽  
Vol 43 (Supplement_1) ◽  
pp. A444-A444
Author(s):  
N Jambulingam ◽  
R Stretch ◽  
D Butz ◽  
M Zeidler
Keyword(s):  
Los Angeles ◽  
Decision Support Tool ◽  
Clinical Decision ◽  
Fixed Costs ◽  
Medicare Reimbursement ◽  
Support Tool ◽  
Contribution Margin ◽  
Occupancy Rates ◽  
Relative Profitability ◽  
Unit Basis

Abstract Introduction Home sleep apnea tests (HSATs) are convenient alternatives to in-lab polysomnograms (PSGs) but high non-diagnostic rates limit their utility. A clinical decision support tool (CDST) to triage patients to HSAT versus PSG was developed at the Greater Los Angeles VA Healthcare System (GLA-VAHS). It uses a random forest ensemble to reduce non-diagnostic HSAT rates by 46%. While prior studies have found PSGs to be more profitable than HSATs on a per unit basis, these analyses do not factor in relative profitability over time. Additionally, no prior studies have quantified the financial impact of a CDST in diagnostic sleep testing. Methods We performed an analysis of the overall profitability of HSATs and PSGs in 2018-2019 within GLA-VAHS which has 6 PSG beds. Revenue was calculated using 2019 Medicare reimbursement rates. Contribution margin (CM) analysis was used to factor out the high fixed costs of healthcare infrastructure, instead focusing on variable direct costs (VDCs). CM analysis is especially useful when calculated on a per diem basis instead of per study, adjusting for number of tests performed in a given day. CM was calculated by subtracting VDCs from revenue under two simulated conditions: with and without the CDST. Results PSGs were 2.5 times more profitable than HSATs on a per unit basis (CM $200/study vs. $81/study). However, on a per day basis, PSGs were only 1.4 times more profitable than HSATs at average nightly occupancy rates of 75% (CM $902/day vs. $646/day). Using the CDST to guide testing, 2.2 times more diagnostic HSATs could be performed per day. As a result, HSATs were 1.3 times more profitable than PSGs on a per day basis with CDST use (CM $1,211/day vs. $902/day). Conclusion This analysis demonstrates that implementing a CDST and maximizing utilization of HSATs allow hospitals to better allocate limited sleep lab resources, increase diagnostic throughput and generate higher profits. Analyzing costs using contribution margin avoids erroneous assumptions about profitability and leads to better-informed administrative decisions regarding sleep lab expansion. Support  

Is speculative building underappreciated in urban history?

Urban History ◽  
2007 ◽  
Vol 34 (2) ◽  
pp. 296-316 ◽  
Author(s):  
WILLIAM C. BAER
Keyword(s):  
Urban History ◽  
Urban Population ◽  
Organizational Form ◽  
Ancient Rome ◽  
The Us ◽  
Development Processes

The building industry's organization has been relatively invariant down through history due to housing's unique characteristics: durability, fixity in location, complex co-ordination of various trades on site and financing its great costs. That organizational form has allowed speculative development to flourish periodically during large increases in urban population, despite considerable risk. The same building and speculative processes occurred in ancient Rome and cities in England and the US at greatly different periods of time but those histories do not acknowledge the similarities of development processes that each reports. A separate ‘housing literature’ that steps back from particulars possibly explains why these accounts are so alike.

Sustainability marketing: US hotels vs. international hotel chains

2015 ◽  
Vol 11 (1) ◽  
pp. 32-36 ◽  
Author(s):  
Lana Brackett ◽  
B. Nathaniel Carr II
Keyword(s):  
Web Site ◽  
Design Methodology ◽  
Research Study ◽  
Hotel Industry ◽  
Exploratory Research ◽  
Content Type ◽  
Large Market ◽  
The Us ◽  
Hotel Chains ◽  
The Web

Purpose – The purpose of this paper is to determine whether US-only hotels and US-based international hotel chains similarly promote sustainability marketing. Design/methodology/approach – A qualitative exploratory research study reviewing the web site marketing of the US-only hotels and US-based international hotel chains. Findings – The research indicates that there are differences in the sustainability marketing of US-only and US-based international hotel chains. Originality/value – This is a unique research study. The hotel industry has a diverse body of stateholders due to its large market and impact on sustainability.

Location Specific Styles and US Venture Capital Contracting

2015 ◽  
Vol 05 (03) ◽  
pp. 1550012 ◽  
Author(s):  
Ola Bengtsson ◽  
S. Abraham Ravid
Keyword(s):  
Venture Capital ◽  
Cash Flow ◽  
Ceo Compensation ◽  
Contract Design ◽  
Control Rights ◽  
Financial Contracts ◽  
Compensation Contracts ◽  
The Us

This paper shows that several contractual equilibria coexist in the US venture capital (VC) contracts. Our database is larger than that of previous studies and includes 1,804 contracts. Our main finding is that California-based entrepreneurs receive less harsh contract terms. In particular, investors subject to California-based or California style contracts have less downside protection. This “California effect” remains large and significant even after we include all the previously discovered controls which determine contract design. We find a similar effect if the VC is located in California, or if a non-California VC had a large exposure to the California market. We do not find evidence that VCs are substituting cash flow contingencies for control rights or for performance-based CEO compensation contracts. We also document several other new contractual features of VC contracts. In particular, we find that better companies and more experienced VCs receive better contract terms, whereas older companies receive harsher contracts. We also confirm the role of concentration and proximity in financial contracts.

scholarly journals Hotels’ occupancy rates and convergence: Empirical evidence from the first pandemic wave

2021 ◽  
pp. 135481662110498
Author(s):  
Michael L Polemis ◽  
Panayiotis Tzeremes ◽  
Nickolaos G Tzeremes
Keyword(s):  
Empirical Evidence ◽  
Hotel Industry ◽  
Us States ◽  
Convergence Clubs ◽  
The Us ◽  
Economic Characteristic ◽  
Occupancy Rates ◽  
The Empirical Analysis ◽  
Daily Period ◽  
Pandemic Wave

The scope of this study is to unravel possible convergence clubs regarding the occupancy rates of the hotel industry in the US states in the aftermath of the first COVID-19 pandemic wave. For this reason, the underlying paper resorts to the application of the generic convergence algorithm developed in Phillips and Sul (2007) for a sample of 50 US states over the daily period ranging from 01.12.2019 to 26.07.2020. The empirical analysis supports the identification of two primary convergence clubs consisting of an equally distributed number of regions (states). However, the two clubs can be merged into one after the implementation of the Phillips and Sul (2009) methodology, revealing that the first pandemic wave has eliminated any distinct (economic) characteristic between the different US states. JEL codes:L10, L80, R10 .

scholarly journals Impact of the collapse of the Lehman Brothers bank and the 2008 financial crisis on global economic security

2019 ◽  
Vol 191 (1) ◽  
pp. 149-158
Author(s):  
Radoslaw Mieszala
Keyword(s):  
Financial Crisis ◽  
Global Economy ◽  
Stock Exchange ◽  
The United States ◽  
Economic Security ◽  
Mortgage Loans ◽  
The Us ◽  
Lehman Brothers ◽  
The 2008 Financial Crisis ◽  
A Chain

The study presents the analysis of the economic phenomena that occurred at the turn of 2007/2008. The financial meltdown and stagnation – a slowdown in the growth of world economies, which led to a chain of bankruptcies and debts, took place in those years. Due to the domino effect, the Lehman Brothers activity had an impact on the global economy. The bank declared bankruptcy on September 15, 2008, which caused panic on the US stock exchange and a greater conviction about the crisis of high-risk mortgage loans. The result was multifaceted activities implementing proper corporate governance and deliberalization of financial law in the United States. The collapse of the colossus achieving record profits was, therefore, a kind of breakthrough that triggered a financial crisis that spread throughout the world. The State Treasury and the US Federal Reserve System joined the rescue of the company; nevertheless, negotiations with potential investors ended in a fiasco.

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