This paper investigates a market-valuation-based hypothesis for employee stock options (ESOs). Given that stock prices do not track fundamental values perfectly, I show that ESOs can be used to sell overvalued stocks and to increase long-term shareholder value. The key cross-sectional prediction...

We examine the impact of the May 2003 dividend tax cut and managerial stock holdings on corporate dividend initiation. We find that executives who hold sizable stakes in their companies become more likely to initiate dividends following this tax cut. The firms that initiate dividends after the...

The Thrifty Food Plan (TFP) adapts a national average price and stipulates that all foods should be prepared at home (FAH). Our purpose was to calculate the TFP with regional prices and add Food Away From Home (FAFH) into the TFP model. Measures were calculated and compared across the TFP, the...

This paper aims to explore the socio-economic profiles of the nutrition label users and focuses on seven key nutrients: calories, calories from fat, total fat, trans fat, saturated fat, cholesterol, and sodium. The data are from National Health and Nutrition Examination Survey (NHANES) 2005-2006...

This paper demonstrates a new method of optimizing land-use patterns to reduce the negative impacts of urbanization on watershed stormwater systems. The Yong-Ding watershed in western Beijing, China, serves as a case study for this research. A regression model that estimates watershed hydrology...

This paper examines block transactions in the Chinese equity market. We find that most of the block transactions are traded at prices at or below the closing price of the regular continuous auction market, and more than half are traded at or below the lowest price of the day. Consistent with the...

The objective of this work is to investigate the energy saving potential of HTHP&DW (high temperature heat pump coupling to desiccant wheel) system by means of comparative analysis based on reference technologies. A complete numerical model of HTHP&DW system is established and the iterative...

Department: Industrial Engineering and Operations Research.

In this paper, we study a model incorporating the retail trader’s reluctance to sell into losses. We show that in this setup the informed trader always buys the asset when he receives a favorable signal. However, when the informed trader receives an unfavorable signal, he may not always sell...

We examine the impact of the May 2003 dividend tax cut and managerial stock holdings on corporate dividend initiation decision. We find that managers who hold sizable stakes in their companies are more likely to initiate dividends following this tax cut. This positive relation is stronger for...