Using data for six Asian miracle economies over the period from 1953 to 2006, this paper examines the extent to which growth has been driven by R&D and tests which second-generation endogenous growth model is most consistent with the data. The results give strong support to Schumpeterian growth...

We study a game model of multi-leader and one-follower in supply chain optimization where n suppliers compete to provide a single product for a manufacturer. We regard the selling price of each supplier as a pre-determined parameter and consider the case that suppliers compete on the basis of...

Purpose -The purpose of this paper is to provide a unique approach to examining issues related to initial public offerings (IPOs). Design/methodology/approach -The price behavior of IPOs in new industries is analyzed relative to IPOs in established industries. Findings -The results show that...

We study underwriting relationships in the floating rate debt market, where many issuers have a large number of offerings. We find that frequent issuers maintain close relationship with only three to five underwriters and pay significantly less underwriting fees than infrequent issuers. The...

This article examines the FDI-growth nexus in the small open economy of Malaysia by controlling for the level of financial development. Financial development is proxied by a composite index, which is a summary measure of four financial development indicators. Using time-series data from 1965 to...

We examine a large sample of mergers involving earnout payments made by bidders to target shareholders. Our findings suggest that earnouts serve two not mutually exclusive functions: as risk reduction mechanisms against misvaluation of high asymmetric information targets, and as retention...

Purpose – The purpose of this paper is to utilize the initial public offerings (IPO) market to research the effect the stock market crash of 1987 had on the market psyche. Design/methodology/approach – The paper compares the number of IPOs, as well as accounting data during the years...

Outlines the development of risk management products, reviews relevant research and identifies reasons for their rapid growth. Reports a study of US public issues of securities from 1962 to 1998 which examines the introduction and longevity of various types; and analyses the issuers and leading...

Purpose – The purpose of this paper is to provide a unique approach to examining issues related to initial public offerings (IPOs). Design/methodology/approach – The price behavior of IPOs in new industries is analyzed relative to IPOs in established industries. Findings – The results show...