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Market Selection
Kogan, Leonid - 2009
The hypothesis that financial markets punish traders who make relatively inaccurate forecasts and eventually eliminate the effect of their beliefs on prices is of fundamental importance to the standard modeling paradigm in asset pricing. We establish necessary and sufficient conditions for...
Persistent link: https://www.econbiz.de/10012463460
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Market Penetration Costs and the New Consumers Margin in International Trade
Arkolakis, Costas - 2008
I develop a new theory of marketing costs and introduce it into a model of trade with product differentiation and firm …
Persistent link: https://www.econbiz.de/10012464433
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Customer Capital
Gourio, Francois - 2011
Firms spend substantial resources on marketing and selling. Interpreting this as evidence of frictions in product …
Persistent link: https://www.econbiz.de/10012461466
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Reducing Greenhouse Gas Emissions by Forest Protection : The Transaction Costs of REDD
Alston, Lee J. - 2011
Understanding and minimizing the transaction costs of policy implementation are critical for reducing tropical forest losses. As the international community prepares to launch REDD+, a global initiative to reduce greenhouse gas emissions from tropical deforestation, policymakers need to pay...
Persistent link: https://www.econbiz.de/10012461901
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Insider Econometrics : Empirical Studies of How Management Matters
Ichniowski, Casey - 2009
1.Why do firms in the same industry adopt different management practices? …2.Does the adoption of a new management practice raise productivity? …3.If so, why does the new management practice raise productivity? …
Persistent link: https://www.econbiz.de/10012463034
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Does Corporate Governance Matter in Competitive Industries?
Giroud, Xavier - 2009
By reducing the threat of a hostile takeover, business combination (BC) laws weaken corporate governance and increase the opportunity for managerial slack. Consistent with the notion that competition mitigates managerial slack, we find that while firms in non-competitive industries experience a...
Persistent link: https://www.econbiz.de/10012463770
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Optimal Decentralized Investment Management
van Binsbergen, Jules H. - 2006
benchmark substantially mitigates the utility costs of decentralized investment management. These costs can be further reduced …
Persistent link: https://www.econbiz.de/10012466511
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Dynastic Management
Caselli, Francesco - 2003
Dynastic management is the inter-generational transmission of control over assets that is typical of family-owned firms …. It is pervasive around the World, but especially in developing countries. We argue that dynastic management is a … incidence of dynastic management depends on the severity of asset-market imperfections, on the economy's saving rate, and on the …
Persistent link: https://www.econbiz.de/10012469259
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Time-Varying Fund Manager Skill
Kacperczyk, Marcin - 2011
Mutual fund managers can outperform the market by picking stocks or timing the market successfully. Previous work has estimated picking and timing skill, assuming that each manager is endowed with a fixed amount of each and found some evidence of picking skills and little evidence of timing...
Persistent link: https://www.econbiz.de/10012461042
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Optimal Monetary Policy with Informational Frictions
Angeletos, George-Marios - 2011
This paper studies optimal policy in a business-cycle setting in which firms have a blurry understanding of the state of the economy due to informational or cognitive constraints. The latter are not only the source of nominal rigidity but also an impediment in the coordination of production. The...
Persistent link: https://www.econbiz.de/10012461077