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On the Use of Panel Data in Bayesian Stochastic Frontier Models
Fernández, C.; Osiewalski, J.; Steel, M.F.J. - Tilburg University, Center for Economic Research - 1996
We consider a Bayesian analysis of the stochastic frontier model with composed error.Under a commonly used class of (partly) noninformative prior distributions, the existence of the posterior distribution and of posterior moments is examined.Viewing this model as a Normal linear regression model...
Persistent link: https://www.econbiz.de/10011090882
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Robust Estimation and Moment Selection in Dynamic Fixed-effects Panel Data Models
Cizek, Pavel; Aquaro, M. - Tilburg University, Center for Economic Research - 2015
This paper extends an existing outlier-robust estimator of linear dynamic panel data models with fixed effects, which is based on the median ratio of two consecutive pairs of first-differenced data. To improve its precision and robust properties, a general procedure based on many pairwise...
Persistent link: https://www.econbiz.de/10011124439
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Optimal Tax Depreciation Lives and Charges under Regulatory Constraints
De Waegenaere, Anja; Wielhouwer, J.L. - Tilburg University, Center for Economic Research - 2001
Depreciation is not only a representation of the loss in asset-value over time.It is also a strategic tool for … management and can be used to minimize tax payments.In this paper we derive the depreciation scheme that minimizes the expected … value of the present value of future tax payments for two types of constraints on the depreciation method. …
Persistent link: https://www.econbiz.de/10011090373
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Imperfect credibility of the band and risk premia in the European Monetary System
Beetsma, R.M.W.J. - Tilburg University, Center for Economic Research - 1992
Persistent link: https://www.econbiz.de/10011090952
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Optimal Tax Reduction by Depreciation : A Stochastic Model
De Waegenaere, Anja; Berg, M.; Wielhouwer, J.L. - Tilburg University, Center for Economic Research - 1996
This paper focuses on the choice of a depreciation method, when trying to minimize the expected value of the present … tax brackets, we determine the optimal choice between the straight line depreciation method and a speci c accelerated … depreciation method. We show how the distributions of the cash- ows, the discount rate, and the tax structure can in uence the …
Persistent link: https://www.econbiz.de/10011091392
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The Usefulness of the Most Widely Reported Dutch Financial Statement Numbers to Stock Market Investors
Kabir, M.R. - Tilburg University, Center for Economic Research - 1997
Much of the literature on the usefulness of company financial statement information focuses on the United States and the United Kingdom. But, these two countries are characterized by similar and rigid regulatory and enforcement regime. This study provides direct evidence from the Netherlands –...
Persistent link: https://www.econbiz.de/10011090499
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Budget Setting Strategies for the Company's Divisions
Brekelmans, Ruud; De Waegenaere, Anja; Berg, M. - Tilburg University, Center for Economic Research - 1997
The paper deals with the issue of budget setting to the divisions of a company. The approach is quantitative in nature both in the formulation of the requirements for the set-budgets, as related to different general managerial objectives of interest, and in the modelling of the inherent...
Persistent link: https://www.econbiz.de/10011090567
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Royal Ahold : A Failure of Corporate Governance and an Accounting Scandal
de Jong, A.; DeJong, D.V.; Mertens, G.M.H.; Roosenboom, … - Tilburg University, Center for Economic Research - 2005
Royal Ahold (Koninklijke Ahold NV) was one of the major success stories in the 1990s and is one of the major failures, suffering a complete meltdown, in 2003.We investigate the strategy, accounting transparency and corporate governance of Ahold; elements which jointly drive the firm s performance...
Persistent link: https://www.econbiz.de/10011091014
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Understanding Internal Capital Markets and Corporate Policies
Cremers, M.; Huang, R.; Sautner, Z. - Tilburg University, Center for Economic Research - 2009
This study looks inside a large retail-banking group to understand how corporate politics affect internal capital allocation. The group consists of a headquarters organization and about 150 member banks which own the headquarters. Our data is from the firm’s managerial accounting system and...
Persistent link: https://www.econbiz.de/10011091968
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Search for a New Conceptual Bookkeeping Model : Different Levels of Abstraction
Groenendaal, Willem van; Sweere, A.M.J. - Tilburg University, Center for Economic Research - 1999
Nowadays, every bookkeeping system used in practice is automated. Most bookkeeping software and integrated information systems are based on databases. In this paper, we develop a new conceptual bookkeeping model which is not based on manual techniques, but which is applicable in a database...
Persistent link: https://www.econbiz.de/10011092844