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Konijn, Sander J. J.; Kräussl, Roman; Lucas, André - 2009

This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test...

Persistent link: https://www.econbiz.de/10011379511

The value relevance of disclosing a single corporate target : an explorative empirical analysis

Cools, Cornelis; Praag, Mirjam van - 2003

This paper explores the relationship between disclosing corporate targets and value creation. Our empirical results show the value relevance of voluntarily disclosing a low number of targets, whereas there is a clear additional positive effect of disclosing exactly one corporate target in the...

Persistent link: https://www.econbiz.de/10011453249

Dividend-protected convertible bonds and the disappearance of call delay

Grundy, Bruce D.; Verwijmeren, Patrick - 2012

Persistent link: https://www.econbiz.de/10009722624

Committees as active audiences : reputation concerns and information

Swank, Otto H.; Visser, Bauke - 2018

payoffs and about his reputation for expertise. The state remains unobserved, even after the decision has been taken. In such … inconclusive environments, in equilibrium, a member's internal (peer) reputation is based on deliberation patterns, while member …'s external (market) reputation is based on the observed group decision. Either form of reputation concerns create strategic …

Persistent link: https://www.econbiz.de/10011895815

Expected utility and catastrophic risk

Ikefuji, Masako; Laeven, Roger; Magnus, Jan R.; Muris, Chris - 2014

An expected utility based cost-benefit analysis is in general fragile to its distributional assumptions. We derive necessary and sufficient conditions on the utility function of the expected utility model to avoid this. The conditions ensure that expected (marginal) utility remains finite also...

Persistent link: https://www.econbiz.de/10010412466

A real options perspective on R&D portfolio diversification

Bekkum, Sjoerd van; Pennings, Enrico; Smit, Han T. J. - 2008

This paper shows that the presence of conditional staging in R&D (Research & Development) has a critical impact on portfolio risk, and changes diversification arguments when a portfolio is constructed. When R&D projects exhibit option-like characteristics, correlation between projects plays a...

Persistent link: https://www.econbiz.de/10011373815

Interquantile expectation regression

Barendse, Sander - 2017

We propose a semiparametric estimator to determine the effects of explanatory variables on the conditional interquantile expectation (IQE) of the random variable of interest, without specifying the conditional distribution of the underlying random variables. IQE is the expected value of the...

Persistent link: https://www.econbiz.de/10011622915

Has the Basel II accord encouraged risk management during the 2008 - 09 financial crisis?

McAleer, Michael; Jimenez-Martin, Juan-Angel; Pérez … - 2009

The Basel II Accord requires that banks and other Authorized Deposit-taking Institutions (ADIs) communicate their daily risk forecasts to the appropriate monetary authorities at the beginning of each trading day, using one or more risk models to measure Value-at-Risk (VaR). The risk estimates of...

Persistent link: https://www.econbiz.de/10011378354

Advances in financial risk management and economic policy uncertainty : an overview

Hammoudeh, Shawkat; McAleer, Michael - 2014

Financial risk management is difficult at the best of times, but especially so in the presence of economic uncertainty and financial crises. The purpose of this special issue on "Advances in Financial Risk Management and Economic Policy Uncertainty" is to highlight some areas of research in...

Persistent link: https://www.econbiz.de/10010366930

Aggregating credit and market risk : the impact of model specification

Lucas, André; Verhoef, Bastiaan - 2012

Persistent link: https://www.econbiz.de/10010191011

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