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A dynamic model of investor decision-making : how adaptation to losses affects future selling decisions
Lee, Carmen; Kräussl, Roman; Lucas, André; Paas, … - 2008
performance, together influence the decision to hold on to or to capitulate on an investment. We study the relative contribution … decision to capitulate an investment, however, only depends directly on the expectation about the stock’s future performance …. The adaptation level, by contrast, affects the actual investment decision indirectly via its impact on expectations. …
Persistent link: https://www.econbiz.de/10011377365
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Why does centralisation fail to internalise policy externalities?
Dur, Robert A. J.; Roelfsema, Hein J. - 2003 - Rev.
We provide an explanation why centralisation of political decision makingresults in overspending in some policy domains …
Persistent link: https://www.econbiz.de/10011326940
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Capital gains taxation and the cost of capital : evidence from unanticipated cross-border transfers of tax bases
Huizinga, Harry; Voget, Johannes; Wagner, Wolf - 2012
Persistent link: https://www.econbiz.de/10010191000
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The executive turnover risk premium
Peters, Florian; Wagner, Alexander F. - 2012
Persistent link: https://www.econbiz.de/10010191019
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Winning by losing : evidence on overbidding in mergers
Malmendier, Ulrike; Moretti, Enrico; Peters, Florian - 2011
Persistent link: https://www.econbiz.de/10010191090
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Event studies in merger analysis : review and an application using U.S. TNIC data
Klein, Timo - 2020 - Revision: March 2020
There is a growing concern that U.S. merger control may have been too lenient, but empirical evidence remains limited. Event studies have been used as one method to acquire empirical insights into the competitive effects of mergers. However, existing work suffers from strong identifying...
Persistent link: https://www.econbiz.de/10012161053
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Consolidation waves
Berg, Ward A. van den; Smit, Han T. J. - 2007
This paper explains why consolidation acquisitions occur in waves and it predicts the differing role each firm is likely to play in the consolidation game. We propose that whether a firm assumes the role of rival consolidator, target, or passive observer depends on the position of the firm...
Persistent link: https://www.econbiz.de/10011372521
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Start-up acquisitions and the entrant's and incumbent's innovation portfolios
Dijk, Esmée S. R.; Moraga-González, José Luis; … - 2023 - First draft: July 2023
An entrant and an incumbent engage in an investment portfolio problem where each chooses how to allocate its research funds across a rival market, where they compete with one another, and a non-rival market, where they do not interact. Allowing for acquisitions distorts both players' incentives...
Persistent link: https://www.econbiz.de/10014335535
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New tests of optimality in Markov decision processes
Lasserre, Jean B. - 1993
Persistent link: https://www.econbiz.de/10000151633
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Sequential and simultaneous logit : a nested model
Ophem, Hans van; Schram, Arthur - 1992
Persistent link: https://www.econbiz.de/10000122515