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Comment on "Growth uncertainty, generalized disappointment aversion and production-based asset pricing"
Lochstoer, Lars A. - In: Journal of monetary economics 69 (2015), pp. 90-96
Persistent link: https://www.econbiz.de/10011326681
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Entrepreneurial finance and non-diversifiable risk
Chen, Hui; Miao, Jianjun; Wang, Neng - 2009
Persistent link: https://www.econbiz.de/10003827717
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Entrepreneurial finance and nondiversifiable risk
Chen, Hui; Miao, Jianjun; Wang, Neng - 2009
Persistent link: https://www.econbiz.de/10008698742
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Entrepreneurial finance and non-diversifiable risk
Chen, Hui; Miao, Jianjun; Wang, Neng - 2009
Persistent link: https://www.econbiz.de/10003832409
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Entrepreneurial finance and nondiversifiable risk
Chen, Hui; Miao, Jianjun; Wang, Neng - In: The review of financial studies 23 (2010) 12, pp. 4348-4388
Persistent link: https://www.econbiz.de/10008797656
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Entrepreneurial Finance and Non-diversifiable Risk
Chen, Hui - 2009
consumption, portfolio allocation, financing, investment, and business exit decisions. The optimal capital structure is determined …. More risk-averse entrepreneurs default earlier, but also choose higher leverage, even though leverage makes his equity more … risky. Non-diversified entrepreneurs demand both systematic and idiosyncratic risk premium. Cash-out option and external …
Persistent link: https://www.econbiz.de/10012463800
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CEO Power, Compensation, and Governance
Albuquerque, Rui; Miao, Jianjun - In: Annals of Economics and Finance 14 (2013) 2, pp. 443-479
This paper presents a contracting model of governance based on the premise that CEOs are the main promoters of governance change. CEOs use their power to extract higher pay or private benefits, and different governance structures are preferred by different CEOs as they favor one or the other...
Persistent link: https://www.econbiz.de/10010658717
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CEO Power, Compensation, and Governance
Albuquerque, Rui; Miao, Jianjun - In: Annals of Economics and Finance 14 (2013) 1, pp. 21-56
This paper presents a contracting model of governance based on the premise that CEOs are the main promoters of governance change. CEOs use their power to extract higher pay or private benefits, and different governance structures are preferred by different CEOs as they favor one or the other...
Persistent link: https://www.econbiz.de/10010592923
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The dynamics of mergers and acquisitions in oligopolistic industries
Hackbarth, Dirk; Miao, Jianjun - In: Journal of Economic Dynamics and Control 36 (2012) 4, pp. 585-609
This paper embeds an oligopolistic industry structure in a real options framework in which synergy gains of horizontal mergers arise endogenously and vary stochastically over time. We find that (i) mergers are more likely in more concentrated industries; (ii) mergers are more likely in...
Persistent link: https://www.econbiz.de/10010574001
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The dynamics of mergers and acquisitions in oligopolistic industries
Miao, Jianjun; Hackbarth, Dirk - Department of Economics, Boston University - 2011
This paper embeds an oligopolistic industry structure in a real options framework in which synergy gains of horizontal mergers a rise endogenouslya nd vary stochastically over time. We find that(i) mergers are more likely in more concentrated industries; (ii) mergers are more likely inindustries...
Persistent link: https://www.econbiz.de/10010779541