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During the last two decades, a number of studies have documented how initial public offerings (IPOs) of equity often exhibit underpricing; such studies have also attempted to identify the reasons for this underpricing phenomenon. Utilizing information asymmetry theory and signaling theory, many...
Persistent link: https://www.econbiz.de/10010636103
The paper analyzes the risk disclosure quality in the prospectus of IPOs in Germany between 2006 and 2008. Quality of risk information is measured as precision and comprehensibility. The relationship between risk disclosure quality and earnings power is tested.
Persistent link: https://www.econbiz.de/10008479034
Certification schemes for forest products are understood by many as a way to promote sustainable resource use when it is impossible to rely on direct enforcement of process standards. Based on the concept of ‘Self-Enforcing Contracts’, this study develops a market model that simulates the...
Persistent link: https://www.econbiz.de/10011142856
Arbeit die Reputation der Fleischwirtschaft umfassend untersucht. Unter Verwendung der Partial Least Squares Methode (PLS …) von untergeordneter Relevanz sind. Die Analysen verdeutlichen die große Bedeutung der Reputation zur Erklärung … vegetarians in the population. In order to investigate the extent of these difficulties, this study analyses the reputation of the …
Persistent link: https://www.econbiz.de/10011143162
on the results of the repeated monetary policy game. Disciplinary effects of reputation disappear in presence of …
Persistent link: https://www.econbiz.de/10010986312
How do markets spread risk when events are unknown or unknowable and where not anticipated in an insurance contract? While the policyholder can hold up the insurer for extra contractual payments, the continuing gains from trade on a single contract are often too small to yield useful coverage....
Persistent link: https://www.econbiz.de/10010986457
This paper develops a theory of umbrella branding as a way to link the reputations of otherwise unrelated products. The analysis predicts that umbrella branding can credibly signal positive correlation between the qualities of the included products to consumers, but cannot certify high quality...
Persistent link: https://www.econbiz.de/10010988429
The paper studies the relationship between two institutional innovations in monetary policy of the past few decades: central bank independence (CBI) and explicit inflation targeting (EIT). The aim is to make inferences about the optimal institutional design of monetary policy, and the right...
Persistent link: https://www.econbiz.de/10010988806
store. This result gives further support to the conclusion that subtle social cues can invoke reputation concerns in humans …
Persistent link: https://www.econbiz.de/10010988958
Persistent link: https://www.econbiz.de/10010989657