Background: Logistics problems involve a large number of complexities, which makes the development of models challenging. While computer simulation models are developed for addressing complexities, it is essential to ensure that the necessary operational behaviours are captured, and that the...

This paper reviews the research process conducted on developing a new system for industry wastewater treatment application to increase efficiency and sustainability by adopting industry 4.0 technology. The challenge of this project was to (a) utilize the design thinking methodology...

Executive pensions and deferred compensation, collectively referred to as inside debt, tend to align CEO incentives with those of debt holders. Although CEO equity compensation is well known to induce risk-shifting incentives and thereby add to the agency cost of debt, too much inside debt may...

We examine the effect of CEO pensions and deferred compensation (inside debt) on firm cash holdings and the value of cash. We document a positive relation between CEO inside debt and firm cash holdings. This positive effect is magnified by firm leverage and mitigated by the presence of financial...

We investigate the principal-principal (PP) conflicts between large blockholders in the context of cross-border acquisitions (CBAs). We focus on the conflicts between family blockholders and two groups of financial institutional investors – banks and mutual funds. We hypothesize that different...

We investigate the impact of firm expansion decisions on CEO wealth and derive the ex ante wealth-driven incentives. We find that CEO incentives are determined by a combined influence of multiple factors, including board compensation policy, stock market mispricing, as well as CEO's own...

This paper empirically examines how diversification influences the relation between corporate governance and capital structure. Consistent with the creditor alignment hypothesis, we find a positive relation between managerial entrenchment and leverage in diversified firms. In contrast, we find a...

A large number of newly listed firms have significant involvement in international business activity. In this paper, we examine the effect of international business activity on the pricing of initial public offerings (IPOs), post-IPO performance, and survival. In a large sample of U.S. IPOs over...

We examine the effect of export activity on the pricing of initial public offerings (IPOs) and their post-IPO performance and survival. On the one hand, foreign market operations diversify a firm's revenue base and the risk of domestic cash flow shocks and may also provide an entree into foreign...