Abstract: The increase of capital mobility across emerging economies has become an interesting topic for many economic policy makers. The current study tests the validity of Feldstein–Horioka puzzle for 5 BRICS countries. The sample period of the study runs from 2001 to 2014. The study uses the following parameter estimates well known as the Fully Modified OLS (FMOLS), and Dynamic OLS (DOLS). The results of the study show that investment and savings are cointegrated in the long run. The parameters estimated using FMOLS and DOLS are 0.85 and 0.74, respectively. These results imply that policy makers within BRICS countries have to consider flexible monetary and fiscal policy instruments to influence the mobility of capital with the bloc.
Abstract: Organizations are increasingly relying upon teamwork; however, little is known about the best fit among incentive system, team composition, and group performance. To further explore this issue this study examines whether the congruence between incentive system and locus of control (LoC) affects team performance. To reconcile opposite lines of argument in literature regarding the best incentive system for a team, this paper uses the social identity perspective and person-environment (P-E) fit theory to understand behavior in a group process. A laboratory experiment with postgraduate students is conducted to test the hypotheses. One hundred and five accounting students were assigned to three-person work groups, where they completed an independent task under one of two types of incentive—individual and group incentive systems—after their LoC was measured. The findings confirm the hypothesis. Group incentive results in an enhanced team performance. Team performance is better when there is congruence between incentive system and LoC. Group incentive system combined with external LoC results in the best performance, while individual incentive system results in a better team performance when combined with internal LoC. The result suggests that a cooperative process enables ‘ordinary people’ to obtain extraordinary results.
Abstract: Flows in a microchannel are laminar, which means that mixing depends on only inter-diffusion. A micromixer plays an important role in obtaining fast diagnosis results in the fields of m-TAS (total analysis system), Bio-MEMS and LOC (lab-on-a-chip).
In this paper, we propose a new active mixer with vertical flow placement via a series of inlets for micromixing. This has two inlets on the same axis, one of which is located before the other. The sample input by the first inlet flows into the down-position, while the other sample by the second inlet flows into the up-position. In the experiment, the samples were located vertically in up-down positions in a micro chamber. PZT was attached below a chamber, and ultrasonic waves were radiated in the down to up direction towards the samples in the micro chamber in order to accelerate the mixing. The mixing process was measured by the change of color in a micro chamber using phenolphthalein and NaOH. The results of the experiment showed that the samples in the microchamber were efficiently mixed and that our new active mixer was superior to the horizontal type of active mixers in view of the grey levels and the standard deviation.