Purpose - The purpose of this study is to investigate whether, in the context of making a go/no-go decision regarding a failing new product, the use of a stopping rule and/or a new decision-maker would reduce the escalation of commitment (EOC). Design/methodology/approach - This study uses a...

In this paper we explore how small countries such as Malaysia, Singapore, and Taiwan, can offer their aging populations the means to protect their retirement income against inflation without the governments directly issuing inflation-protected bonds. While inflation swaps are a well-known means...

Controlling for bond characteristics and liquidity, clientele effects in Malaysian bonds cause Islamic sovereign bonds to have a 4.8 bps higher yield than their conventional counterparts. Using transaction-level bond data, we document three channels for these effects: First, from the selling of...

In this paper we explore how small countries such as Malaysia, Singapore, and Taiwan, can offer their aging populations the means to protect their retirement income against inflation without the governments directly issuing inflation‐protected bonds. While inflation swaps are a well‐known...

Advances in economic theory and optimal control methods have considerably improved the prescriptions for the extraction of renewable and nonrenewable resources. While the classic analyses, going back to Hotelling (1931), proceeded under assumptions of price certainty, recent work addresses the...

With continued strong inflows into hedge fund strategies, it is imperative for researchers to study if hedge funds are still worth their high fees. In an updated and comprehensive study covering both North American and Asian hedge funds, we find market risk factors explain up to 81% of hedge...

This paper analyzes the downside risk and loss profiles of hedge funds in North America and Asia to identify any significant differences between the geographic markets and determine how these differences have converged or diverged over time. An attempt is made to understand the performance...

The paper analyses foreign investment and asset prices in a context of uncertainty over future government policy. The model endogenizes the process of learning by foreign investors facing a potentially opportunistic government, which chooses strategically the timing of a policy reversal in order...