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A closed-form solution to the continuous-time consumption model with endogenous labor income

Zhang, Aihua - Centre for Research into Industry, Enterprise, Finance … - 2007

supply and portfolio are obtained analytically by means of the martingale method. The Euler equation under uncertainty is … income and asset return uncertainty. Given the growth rate of wage, the uncertainty of labor income is caused by the …

Persistent link: https://www.econbiz.de/10005807931

Accounting for Risk: developing a new research agenda for risk appraisal in high-technology ventures

Reid, Gavin C; Smith, Julia A - Centre for Research into Industry, Enterprise, Finance … - 1999

This work concerns the development of new methods of accounting for risk in high-technology ventures. The paper enquires into attitudes to risk and skills at risk management, in the relationship between high-technology firms and their venture capital backers. The basic prescription behind the...

Persistent link: https://www.econbiz.de/10005807924

Estimation and Econometric Tests Under Simultaneous Price and Output Uncertainty

Alghalith, Moavia - Centre for Research into Industry, Enterprise, Finance … - 2003

simultaneous price and output uncertainty. …

Persistent link: https://www.econbiz.de/10005807925

Performance, Firm Size and the Heterogeneity of Competetive Strategy for Long-lived Small Firms: A Simultaneous Equations Approach

Power, Bernadette; Reid, Gavin C. - Centre for Research into Industry, Enterprise, Finance … - 2003

This paper examines the relationship between firm size, competitive strategy and performance, for the long-lived small firm in Scotland. It uses structural modelling to test the hypothesis that small firms need to remain small if they are to be long-lived. In a three-equation simultaneous model,...

Persistent link: https://www.econbiz.de/10005807936

The Development and Survival of New Small Businesses: Empirical Evidence for Scotland 1994-97

Reid, Gavin C - Centre for Research into Industry, Enterprise, Finance … - 1997

This paper has two goals. First, to provide an accurate characterisation of the new small firm in Scotland by reference to markets, finance, costs, business strategy, human capital, internal organisation and technical change. Second, to use these same features to discover salient differences...

Persistent link: https://www.econbiz.de/10005807943

Growth and Survival Determinants of Chinese Private Firms: Fieldwork evidence and econometric estimates

Reid, Gavin C; Xu, Zhibin - Centre for Research into Industry, Enterprise, Finance … - 2009

This paper reports on one of the first empirical attempts to investigate small firm growth and survival, and their determinants, in the Peoples’ Republic of China. The work is based on field work evidence gathered from a sample of 83 Chinese private firms (mainly SMEs) collected initially by...

Persistent link: https://www.econbiz.de/10008491837

Financial Distress in Chinese Industry: Microeconomic, Macroeconomic and Institutional Influences

Bhattacharjee, Arnab; Han, Jie - Centre for Research into Industry, Enterprise, Finance … - 2010

TWe study the impact of both microeconomic factors and the macroeconomy on the financial distress of Chinese listed companies over a period of massive economic transition, 1995 to 2006. Based on an economic model of financial distress under the institutional setting of state protection against...

Persistent link: https://www.econbiz.de/10008542834

Competitive Firm Behaviour With Simultaneous Price and Output Uncertainty

Dalal, Aredishir J.; Alghalith, Moavia - Centre for Research into Industry, Enterprise, Finance … - 2002

While a competitive firm facing price uncertainty has been extensively studied, this is not so for output uncertainty …. This paper analyzes the behavior of a competitive firm facing multiplicative output uncertainty, either with or without … price uncertainty. We depict equilibrium and obtain comparative statics results with the aid of a diagram which exploits the …

Persistent link: https://www.econbiz.de/10005696972

The Application of Principal-Agent Methods to Investor-Investee Relations in the UK Venture Capital Industry

Reid, Gavin C - Centre for Research into Industry, Enterprise, Finance … - 1998

Principal-agent analysis is applied to contemporary evidence on venture capital investment. The investor (as principal) and investee (as agent) are analysed in terms of risk management, information handling and the trading of risk and information. Investors and investees were paired in 'dyads',...

Persistent link: https://www.econbiz.de/10005696980

The Choice Between Multiplicative and Additive Output Uncertainty

Alghalith, Moavia; Dalal, Aredishir J. - Centre for Research into Industry, Enterprise, Finance … - 2002

When modeling output uncertainty, the multiplicative specification is consistently chosen over the additive form … the only source of uncertainty, additive uncertainty does not reduce output below the certainty level, while … multiplicative uncertainty does. We show that, regardless of the specification of output uncertainty, if hedging is absent and there …

Persistent link: https://www.econbiz.de/10005696991