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What Goes on Under the Hood? How Engineers Innovate in the Automotive Supply Chain
Helper, Susan - 2016
generating innovation and economic growth. In this chapter, we seek to offer some description of engineering work by looking in … detail at a specific manufacturing industry—firms that supply automakers—to gain insight into how engineers create innovation … engineers, making the auto supply chain an important context in which to study engineering and innovation.Some highlights from …
Persistent link: https://www.econbiz.de/10012984138
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The Value Spread as a Predictor of Returns
Liu, Naiping - 2005
Recent studies have used the value spread to predict aggregate stock returns to construct cash-flow betas that appear to explain the size and value anomalies. We show that two related variables, the book-to-market spread (the book-to-market of value stocks minus that of growth stocks) and the...
Persistent link: https://www.econbiz.de/10012784621
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Sharpening Sharpe Ratios
Goetzmann, William N. - 2002
It is now well known that the Sharpe ratio and other related reward-to-risk measures may be manipulated with option-like strategies. In this paper we derive the general conditions for achieving the maximum expected Sharpe ratio. We derive static rules for achieving the maximum Sharpe ratio with...
Persistent link: https://www.econbiz.de/10012787125
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The Dynamic Effects of Educational Accountability
Macartney, Hugh - 2014
This paper provides the first evidence that value-added education accountability schemes induce dynamic distortions. Extending earlier dynamic moral hazard models, I propose a new test for ratchet effects, showing that classroom inputs are distorted less when schools face a shorter horizon over...
Persistent link: https://www.econbiz.de/10013058252
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India Transformed? Insights from the Firm Level 1988-2005
Alfaro, Laura; Chari, Anusha - 2021
Using firm-level data this paper analyzes the transformation of India's economic structure following the implementation of economic reforms. The focus of the study is on publicly-listed and unlisted firms in manufacturing and services industries. Detailed balance sheet and ownership information...
Persistent link: https://www.econbiz.de/10013239381
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Investment, Fundamentals and Finance
Gilchrist, Simon; Himmelberg, Charles P. - 2021
Financial variables such as cash flow and cash stocks are robust and quantitatively important explanatory variables for investment at the firm-level. A large body of recent empirical work attributes these findings to capital market imperfections. This interpretation is controversial, however,...
Persistent link: https://www.econbiz.de/10013243428
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Productivity, Output, and Failure : A Comparison of Taiwanese and Korean Manufacturers
Aw, Bee Yan - 2012
Industry cost and demand conditions can vary across countries leading to differences in industry market structure, including the distribution of output and productivity across firms and the magnitude of entry and exit flows. It has been argued that despite many outward similarities, two of the...
Persistent link: https://www.econbiz.de/10013114763
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Does Corporate Governance Matter in Competitive Industries?
Giroud, Xavier - 2010
By reducing the threat of a hostile takeover, business combination (BC) laws weaken corporate governance and increase the opportunity for managerial slack. Consistent with the notion that competition mitigates managerial slack, we find that while firms in non-competitive industries experience a...
Persistent link: https://www.econbiz.de/10012757546
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Federalism's Values and the Value of Federalism
Inman, Robert P. - 2010
What is it about federal governance that makes it so attractive to economists, political philosophers, and legal scholars and is there any evidence that would suggest all this attention is warranted? Proponents see federalism as a means to more efficient public and private economies, as the...
Persistent link: https://www.econbiz.de/10012759607
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Offshore Hedge Funds : Survival and Performance 1989-1995
Brown, Stephen J. - 2010
We examine the performance of the offshore hedge fund industry over the period 1989 through 1995 using a database that includes defunct as well as currently operating funds. The industry is characterized by high attrition rates of funds and little evidence of differential manager skill. We...
Persistent link: https://www.econbiz.de/10012763669