In this paper we investigate cognitive biases as a potential reason for the varied results of M&A in emerging capital markets. We focus on two cognitive biases, CEO overconfidence and availability bias, which significantly influence CEO behavior, encouraging them to be irrational in M&A deals....

The paper explores the relationship between different types of intangible resources and phases of the internationalization in the context of emerging economies. The Uppsala model is applied to build internationalization index considering export, import and investment activities. The database of...

This paper investigates the role of boards in founder-managed firms with concentrated ownership in emerging markets. The existing literature suggests that this type of company, even if they decide to recruit high-profile individuals as directors, rarely empowers the boards in the corporate...

The dynamic Nelson-Siegel model and its extensions are used by many central banks to forecast the term structure. Their forecasting performance has been studied for many countries, but a little can be said about their accuracy for emerging market economies (EMEs). In this work we test the...

The purpose of this paper is to investigate the frequently neglected role of business model innovation (BMI) as a key instrument of strategic adaptation of Western multinational enterprises to emerging economy environment. Despite an abundance of studies on BMI, prior works have paid little...

We introduce a new asset pricing model to account for risk asymmetrically in a very natural way. Assuming asymmetric investor behavior we develop a utility function similar to a quadratic utility but include a colog measure for capturing risk attitude. Asymmetry in investor preferences follows...