01816nas a2200181   4500008004100000245009600041210006900137260000900206300001300215490000700228520116600235653003201401653001701433100002101450700001901471700001701490856012701507       2003                        eng d00aThe Return on R&D Versus Capital Expenditures in the Pharmaceutical and Chemistry Industies0 aReturn on RD Versus Capital Expenditures in the Pharmaceutical a  c2003  a141 -1500 v503 aThe impact of research and development (R&D) on firm performance is generally agreed to be positive, but the nature and extent of this impact share little agreement in the previous research. Using an improved, time series, cross-sectional regression model that accounts for both contemporaneous and firm-specific serial correlation, as well as the feedback between firm profitability and investments, our study compares the rate of return from a dollar investment on R&D to a dollar investment on fixed assets in pharmaceutical and chemical industries. We find positive associations of R&D intensity and all variables of firm performance (net margin, operating margin, sales growth, and market value). We find that an investment in R&D earns an operating margin return much higher than the industry cost of capital. We also find that the effect of an investment in R&D on the firm's market value is about twice as much the effect of an investment in fixed assets. These findings have implications for corporate investment strategies, indicating that additional R&D investment is more likely to provide a firm with a unique and sustainable competitive advantage.10aStrategy & Entrepreneurship10aSupply Chain1 aHsieh, Ping-Hung1 aMishra, C., S.1 aGobeli, Dave  uhttps://dev.business.oregonstate.edu/biblio/return-rd-versus-capital-expenditures-pharmaceutical-and-chemistry-industies-001724nas a2200145   4500008004100000245010200041210006900143260000900212300001200221490000700233520116600240653001701406100002101423856013401444       2001                        eng d00aRobustness of Conditional Moments: An Application to Premium Calculation for Reinsurance Treaties0 aRobustness of Conditional Moments An Application to Premium Calc  c2001  a225-2340 v213 aIn this study, the tail probability of a class of distributions commonly used in assessing the severity of insurance losses was examined. Without specifying any particular distribution, the use of an algebraic functional form Cx to approximate the tail behavior of the distributions in the class was demonstrated. Norwegian fire insurance data were examined, and the algebraic functional form was applied to derive the expected loss of a reinsurance treaty that covers all losses exceeding a retention limit. It was shown that (1) the expected loss is insensitive to the parameter á for a high retention limit (e.g., a catastrophe treaty), and (2) with a low retention limit (e.g., a largest claim treaty), a reliable estimate of the parameter á and a sound judgment on the maximum potential loss of the treaty could provide useful and defensible summary statistics for pricing the treaty. Thus, when dealing with the losses of certain reinsurance treaties, it was concluded that knowledge of a specific probability distribution is not critical, and the summary statistics derived from the model are robust with respect to a large class of loss distributions.10aSupply Chain1 aHsieh, Ping-Hung  uhttps://dev.business.oregonstate.edu/biblio/robustness-conditional-moments-application-premium-calculation-reinsurance-treaties-100577nas a2200133   4500008004100000245009400041210006900135260003000204653001700234100002100251700002400272700002200296856012500318       2000                        eng d00aThe Returns to R&D and Capital Expenditures in the Pharmaceuticals and Chemicals Industry0 aReturns to RD and Capital Expenditures in the Pharmaceuticals an  aSeattle, Washingtonc200010aSupply Chain1 aHsieh, Ping-Hung1 aMishra, Chandra, S.1 aGobeli, David, H.  uhttps://dev.business.oregonstate.edu/biblio/returns-rd-and-capital-expenditures-pharmaceuticals-and-chemicals-industry-000524nas a2200109   4500008004100000245010200041210006900143260003000212653001700242100002100259856013400280       1999                        eng d00aRobustness of Conditional Moments: An Application to Premium Calculation for Reinsurance Treaties0 aRobustness of Conditional Moments An Application to Premium Calc  aBaltimore, Marylandc199910aSupply Chain1 aHsieh, Ping-Hung  uhttps://dev.business.oregonstate.edu/biblio/robustness-conditional-moments-application-premium-calculation-reinsurance-treaties-201106nas a2200145   4500008004100000245004000041210004000081260000900121300001200130490000600142520069100148653001700839100002100856856008300877       1999                        eng d00aRobustness of Tail Index Estimation0 aRobustness of Tail Index Estimation  c1999  a318-3320 v83 aThe implementation of the Hill estimator, which estimates the heaviness of the tail of a distribution, requires a choice of the number of extreme observations in the tails, $r$, from a sample of size $n$, where $2 \leq r+1 \leq n$. This article is concerned with a robust procedure of choosing an optimal $r$. Thus, an estimation procedure, $\delta_s$, based on the idea of spacing statistics, $H^{(r)}$, is developed. The proposed decision rule for choosing $r$ under the squared error loss is found to be a simple function of the sample size. The proposed rule is then illustrated across a wide range of data, including insurance claims, currency exchange rate returns, and city size.10aSupply Chain1 aHsieh, Ping-Hung  uhttps://dev.business.oregonstate.edu/biblio/robustness-tail-index-estimation-0