In this study a simple common algorithm which is applicable to seven models is proposed for optimal portfolio selection disallowing short sales of risky securities. The models considered in the analysis consist of a single index model, four multi-index models, and two constant correlation models. Unlike the previous approach, the proposed algorithm does not require explicit ranking of securities. Therefore, it is particularly useful for two multi-index models with orthogonal indices which do not provide any ranking criterion. Also, because of its algorithmic efficiency as demonstrated in a simulation study on models with multiple groups, the approach here can enhance their usefulness in portfolio analysis.

This paper is in answer to the call for new, innovative perspectives and methodologies for organizational research. Although the approach here falls within the subjective/idiographic/qualitative/insider set of methodologies rather than the objective/nomothetic/quantitative/outsider set, there is the potential to bridge the gap between the two sets. Coming largely from anthropology, the emic perspective is explained; the specific steps for ethno-science analyses are summarized; and examples and implications are given.

The management of multinational operations is often required to balance conflicting priorities between responsiveness at the national subsidiary level and central coordination for global competitiveness. Such balancing requires that relevant data be brought to bear on decisions, that consensus be created among key managers, and that relative power among them be carefully balanced. In large complex MNCs the balancing process can be institutionalized through the structuring of relationships between headquarters and subsidiaries.

This paper values options on assets whose returns, over a finite interval of time, are generated by a binomial process. It shows that a simple valuation relationship, between the option and the underlying stock, obtains if investors have preference functions that belong to a particular class, even if opportunities to hedge do not exist. One particular application of the theory is in the case where the stock price over a finite interval could increase by an amount, fall by the same amount, or stay at the same level. The results in this paper may be viewed as the foundation of the preference-based approaches to obtaining a risk neutral valuation relationship.

[Accounting policy makers and taxation authorities have been concerned with the understatement of depreciation expense that can accompany the use of generally accepted depreciation procedures. In addressing this concern, the taxation authorities have adopted a new method of historical cost depreciation known as the Accelerated Cost Recovery System (ACRS). Accounting policy makers, on the other hand, have addressed the "underdepreciation" issue with an experimental program of current cost depreciation disclosure. This paper presents a comparative analysis of the depreciation charges associated with the ACRS and current cost depreciation systems. The results of the analysis show that, for a variety of growth and price change conditions, the ACRS and current cost procedures can provide similar depreciation charges. As such, the ACRS techniques can alleviate considerably the "underdepreciation" effects that have been associated with some of the traditional historical cost depreciation methods.]