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Infrastructure investment in network industries: The role of incentive regulation and regulatory independence

Egert, Balazs - 2009

This paper finds that coherent regulatory policies can boost investment in network industries of OECD economies. Rate-of-return regulation is generally thought to result in overinvestment, while incentive regulation is believed to entail underinvestment. Yet, previous empirical work has...

Persistent link: https://www.econbiz.de/10009477393

Individual QoS versus aggregate QoS: A loss performance study

Xu, Ying; Guérin, Roch A - 2005

This paper explores the differences that can exist between individual and aggregate loss guarantees in an environment … resources, e.g., bandwidth or buffer, required to ensure that all individual loss measures remain below their desired target …. This paper's contributions are in developing analytical models that enable the evaluation of individual loss probabilities …

Persistent link: https://www.econbiz.de/10009439223

Three Essays in Auctions, Contests, and Leaderboards.

Lin, John C. - 2011

In this dissertation, I study three resource allocation problems. In the ﬁrst study, I present joint work with Yan Chen, Thomas Finholt, and Kan Takeuchi on a laboratory study evaluating three different package auction mechanisms for allocating access to large scientiﬁc equipments. I found...

Persistent link: https://www.econbiz.de/10009476663

Debt, Agency, and Management Contracts in REITs: The External Advisor Puzzle

Capozza, Dennis R.; Seguin, Paul J. - 2000

This study investigates why externally advised real estate investment trusts (REITs) underperform their internally managed counterparts. Consistent with previous studies, we find that REITs managed by external advisors underperform internally managed ones by over 7 percent per year....

Persistent link: https://www.econbiz.de/10009477257

A study on capital structure and corporate governance

Kim, Ryoonhee - 2011

Capital structure and corporate governance are the important areas that represent salient part of corporate finance research. By studying various aspects of the two areas, this study attempts to deepen our understanding of the two. First, this study provides both a theoretical model and...

Persistent link: https://www.econbiz.de/10009477896

Internal Auditors' Evaluation of Fraud Factors in Planning an Audit: The Importance of Audit Committee Quality and Management Incentives

Asare, Stephen Kwaku; Davidson, Ronald A.; Gramling, … - 2008

We examine internal auditors' fraud risk decisions in response to variations in audit committee quality and management performance incentives. Using an experimental approach, we find that internal auditors serving in a either a self-assessment role or a due diligence role were sensitive to...

Persistent link: https://www.econbiz.de/10009459068

Three Essays in Financial Economics.

Sokolowsky, Jan - 2011

Chapter 1 is a critique of a highly influential paper in corporate governance. Chhaochharia and Grinstein (2009) estimate that CEO pay decreases 17% more in firms that were not compliant with the recent NYSE/Nasdaq board independence requirement than in firms that were compliant. We document...

Persistent link: https://www.econbiz.de/10009482961

Stock Option Repricing and Executive Turnover

Flatnes, Jon E. - 2005

With the increasing importance of stock options as a component of executive compensation , it is important to understand their effectiveness in aligning executive interests with those of shareholders and their function as a retention device. With the collapse of the tech stock bubble in the past...

Persistent link: https://www.econbiz.de/10009429057

Executive Compensation, Corporate Governance, and the Partner-Manager

Booth, Richard A., Marbury Research Professor of Law - 2005

In the debate over executive compensation, the assumption seems to be that the CEO of a publicly traded corporation is ultimately an employee of the corporation. According to the conventional view, the business belongs to the stockholders. Executive compensation is an expense like any other...

Persistent link: https://www.econbiz.de/10009432048

Testing non-linear dependence in the hedge fund industry

Mencía González, Javier - 2010

This paper proposes a parsimonious approach to test non-linear dependence on the conditional mean and variance of hedge funds with respect to several market factors. My approach introduces non-linear dependence by means of empirically relevant polynomial functions of the factors. For comparison...

Persistent link: https://www.econbiz.de/10012530285