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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/10013118850
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Mutual Fund Performance and the Incentive to Generate Alpha
Del Guercio, Diane - 2011
find that flows chase risk-adjusted returns, and that funds respond by investing more in active management. Importantly …
Persistent link: https://www.econbiz.de/10013119774
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International Trade : Linking Micro and Macro
Eaton, Jonathan - 2014
A recent literature has introduced heterogeneous firms into models of international trade. This literature has adopted the convention of treating individual firms as points on a continuum. While the continuum offers many advantages this convenience comes at some cost: (1) Shocks to individual...
Persistent link: https://www.econbiz.de/10013066573
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Does Trade Globalization Induce or Inhibit Corporate Transparency? Unbundling the Growth Potential and Product Market Competition Channels
Tong, Hui - 2014
How does increasing globalization affect corporate transparency? Freer trade represents different facets and in theory has ambiguous effects on corporate transparency. On the one hand, by exposing firms to more product market competition, it could discourage discretionary disclosure. On the...
Persistent link: https://www.econbiz.de/10013067063
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Does Management Matter? Evidence from India
Bloom, Nicholas - 2014
A long-standing question in social science is to what extent differences in management cause differences in firm … performance. To investigate this we ran a management field experiment on large Indian textile firms. We provided free consulting … on modern management practices to a randomly chosen set of treatment plants and compared their performance to the control …
Persistent link: https://www.econbiz.de/10013068799
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A Theory of Firm Scope
Hart, Oliver - 2009
ingredients: (a) decision rights can be transferred ex ante through ownership, (b) managers (and possibly workers) enjoy private …
Persistent link: https://www.econbiz.de/10012765370
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How Do Venture Capitalists Make Decisions?
Gompers, Paul A. - 2016
organization; and relationships with limited partners. In selecting investments, VCs see the management team as more important than …
Persistent link: https://www.econbiz.de/10012983682
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Organizational Decision Making Under Uncertainty Shocks
Ballesteros, Luis - 2018
In line with the fallacy of riskification of uncertainty by which decision makers believe that the effects of … markets, such as natural disasters, terrorist attacks, and financial crises—as a problem of risk management. This is … business continuity. Taken together, this article offers the foundation for a behaviorally plausible, decision …
Persistent link: https://www.econbiz.de/10012912518
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Prospect Theory and Asset Prices
Barberis, Nicholas - 2010
We propose a new framework for pricing assets, derived in part from the traditional consumption-based approach, but which also incorporates two long-standing ideas in psychology: prospect theory, and evidence on how prior outcomes affect risky choice. Consistent with prospect theory, the...
Persistent link: https://www.econbiz.de/10012763762
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Airline Hubs : Costs, Markups and the Implications of Customer Heterogeneity
Berry, Steven; Spiller, Pablo T.; Carnall, Michael - 2021
This paper estimates a model of airline competition that captures the two major features of the industry: product differentiation and economies of density. The results not only provide support to some of the traditional common wisdom in the industry, but are also useful for understanding major...
Persistent link: https://www.econbiz.de/10013240526