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Dong, Ming; Robinson, Chris; Veld, Chris - EconWPA - 2004

The question of why individual investors want dividends is investigated by submitting a questionnaire to a Dutch … investor panel. The respondents indicate that they want dividends partly because the cost of cashing in dividends is lower than … the cost of selling shares. Their answers provide strong confirmation for the signaling theories of Bhattacharya (1979 …

Persistent link: https://www.econbiz.de/10005076991

Can Markets Learn to Avoid Bubbles?

Miller, Ross M. - EconWPA - 2002

between buyers and sellers, such as found in Akerlof’s lemons model and Spence’s signaling model and extends the arguments put … all qualities together (lemons) or using external indications of quality to separate them (signaling). Similarly, the …

Persistent link: https://www.econbiz.de/10005125589

“One Man, One Dollar”? Examining the equalization argument in support of campaign contribution limits

Vanberg, Christoph - EconWPA - 2005

Arguably the most important campaign finance regulations in U.S. federal elections are limits imposed on the amount that an individual or organization may donate to a federal campaign. Such contribution limits are advocated on two separate grounds. The first is that they prevent corruption, the...

Persistent link: https://www.econbiz.de/10005125869

Does It Pay To Pray? Evaluating the Economic Return to Religious Ritual

Ruffle, Bradley J.; Sosis, Richard H. - EconWPA - 2003

Time-consuming and costly religious rituals pose a puzzle for economists committed to rational choice theories of human behavior. We propose that religious rituals promote in-group trust and cooperation that help to overcome collective-action problems. We test this hypothesis on communal...

Persistent link: https://www.econbiz.de/10005062717

The Political Economy of Redistribution Under Asymmetric Information

Dhami, Sanjit - EconWPA - 2001

This paper examines the political economy of redistribution when voters have asymmetric information about the redistributive preferences of politicians and the latter cannot make credible policy commitments. The candidates in each party are endogenously selected by a process of Nash Bargaining...

Persistent link: https://www.econbiz.de/10005407535

Inventory Signals

Lai, Richard Kum-yew - EconWPA - 2005

whether it is because of poor or smart operations. We hypothesize that inventory has a signaling role. In our model, publicly … the assumptions behind this inventory signaling hypothesis: (1) the market cannot tell the difference between “good” and …

Persistent link: https://www.econbiz.de/10005413245

Strategic Trade Policy and Mode of Competition: Symmetric versus Asymmetric Information

Ionascu, Delia; Zigic, Kresimir - EconWPA - 2001

, free trade may be optimal even under the assumption of symmetric information. Due to costly signaling, this result is …

Persistent link: https://www.econbiz.de/10005556498

Convertible Exchangeable Preferred Stock

Cowan, Arnold R. - EconWPA - 1996

Convertible exchangeable preferred stock includes an option for the issuer to exchange the preferred for convertible bonds with identical pre-tax cash flows and conversion terms. In other respects this innovative corporate security is identical to traditional convertible preferred stock. The...

Persistent link: https://www.econbiz.de/10005561711