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Persistent link: https://www.econbiz.de/10012169048
The rise of emerging market multinationals is a new and dynamic process, while their approach towards their host economies are relatively unique compared to more developed MNEs. In this course material we summarized the existing theories of internationalization and foreign direct investment,...
Persistent link: https://www.econbiz.de/10012107626
The initial view of the advantages of ownership concentration in joint stock companies was determined by the concern about the opportunistic managerial behavior. The growing importance of knowledge and human capital in the operation of firms shifts the focus of concern: excessive ownership...
Persistent link: https://www.econbiz.de/10009476880
presents some of the major concepts, principles, analytical methods and tools useful for making investment and finance … estate terminology presented in the earlier course if they are not already familiar with basic real estate finance and …
Persistent link: https://www.econbiz.de/10009432644
This dissertation consists of two chapters. The first chapter shows that the measurement errors in betas for stocks induce corresponding measurement errors in alphas and a spurious negative covariance between the estimated betas and alphas across stocks. This negative covariance between the...
Persistent link: https://www.econbiz.de/10009433962
This dissertation examines whether simultaneously conditioning on themultidimensional characteristics of information signals can help predict returnsthat are of economic significance. We use large price changes, publicannouncements, and large volume increases to proxy for the...
Persistent link: https://www.econbiz.de/10009434028
Theoretical models suggest that ownership structure may be an important determinant of securities' market characteristics. For example, the presence of informed traders leads to greater bid-ask spreads (Copeland and Galai (1983), and Glosten and Milgrom (1985)), and strategic trading of informed...
Persistent link: https://www.econbiz.de/10009434106
The dissertation empiricallyexamines the efficacy of internalcontrol mechanisms by analyzing 94forced turnovers of chief executiveofficers (CEOs). It seeks to answertwo primary questions: One, dogovernance-related characteristicsinfluence the promptness with whichpoorly-performing CEOs...
Persistent link: https://www.econbiz.de/10009434130
<HTML><HEAD><META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=windows-1252"></HEAD><BODY><FONT FACE="Book Antiqua"><P ALIGN="JUSTIFY">This dissertation empirically examines refunding decisions employed by issuers of tax-exempt bonds. Callable bonds contain embedded call options by virtue of provisions in bond indentures that permit the issuing firm to buy back the bond at a predetermined strike price. Such an embedded American...</p></font></body></head></html>
Persistent link: https://www.econbiz.de/10009434140
General financial models have become workhorse models in the fields of macroeconomics and finance. These models have … and finance is the well accepted fact that models with a representative agent and without financial frictions yield … fields of macroeconomics and finance in the future depends upon the frontier research in general equilibrium today. Over the …
Persistent link: https://www.econbiz.de/10009438435