This paper presents a formal model that characterizes the political mechanisms of demographic change, establishing a critical link in economic development. We demonstrate that fertility decisions are determined by three fundamental political variables: political stability, political capacity and...

This paper presents a formal model that characterizes the political mechanisms of demographic change, establishing a critical link in economic development. We demonstrate that fertility decisions are determined by three fundamental political variables: political stability, political capacity and...

This paper investigates the effect of CEO equity incentives on corporate spin-off decisions. We find that CEOs with stronger equity incentives are more likely to engage in corporate spin-offs and the announcements of such spin-offs are positively received by the market, as evidenced by both...

This paper examines the impact of mandatory option expensing on executive compensation. Although it merely changes the way option costs are disclosed (in footnotes or expensed in income statement), mandatory option expensing may actually alter the optimal contract between firms and their CEOs....

Purpose – This paper seeks to contribute to the existing capital structure and board structure literature by examining the relationship among corporate governance, ownership structure and capital structure.Design/methodology/approach – The paper employs a panel data of 595 firm-year...

We investigate how director networks impact IPO characteristics and find that firms with better-connected directors have higher IPO market valuation, more positive offer price revisions, higher first-day returns, more pre-IPO media coverage, and superior post-IPO stock performance. Director...

This paper investigates and identifies the probable supply chain related risks in Ghana agricultural supply chain and further seeks the severity of these risks based on engineering judgments and historical records. In addition, this paper probes into participants¡¯ ability level to...

This paper presents a formal model that characterizes the political mechanisms of demographic change, establishing a critical link in economic development. We demonstrate that fertility decisions are determined by three fundamental political variables: political stability, political capacity and...

The outbreak of COVID-19 has a huge negative impact on the firms’ business activities. This paper investigates the effects of COVID-19 pandemic on corporate investment and firm value from the real option perspective. Based on the real-option based model (ROM) proposed by Zhang (2000), we find...