D. J. Ashton, D. R. Atkins, Interactions in Corporate Financing and Investment Decisions--Implications for Capital Budgeting: A Further Comment, The Journal of Finance, Vol. 33, No. 5 (Dec., 1978), pp. 1447-1453

According to the Easterlin hypothesis, the positive relationship between income and fertility is dependent on relative income. The hypothesis presumes that aspirations are significantly determined by family background. If income is high relative to aspirations, individuals will tend to have more children. The definition of variables as sibling differences controls family background and yields a measure of relative income. Analyzing the Kalamazoo Brothers sample in this fashion produces no evidence in support of the hypothesis.

The impact of accounting earnings data on bond price behavior is examined for 85 bond issues over the period 1968-1972. Essentially, the study's results indicate that for convertible bonds, certain inferences drawn from stock market research may be extrapolated to this segment of the bond market. That is, accounting data appear to have information content for this market. The study's results concerning nonconvertible bonds indicate that accounting earnings data is incorporated in prices of nonconvertibles, but in a more diffused fashion.

The earnings of foreign-born adult white men, as reported in the 1970 Census of Population, are analyzed through comparisons with the native born and among the foreign born by country of origin, years in the United States, and citizenship. Differences in the effects of schooling and postschool training are explored. Although immigrants initially earn less than the native born, their earnings rise more rapidly with U.S. labor market experience, and after 10 to 15 years their earnings equal, and then exceed, that of the native born. Earnings are unrelated to whether the foreign born are U.S. citizens.

Reviews the book "Contemporary Issues in Cost and Managerial Accounting: A Discipline in Transition," edited by Hector R. Anton, Peter A. Firmin and Hugh D. Grove.