Advertising expenses and research and development expenses are typically treated as operating expenses that affect current income. Managers often view advertising expenses and research and development expenses as costs and have difficulty identifying any associated benefits. However, they both...

The significant economic growth and urbanisation of China in recent years has seen increased importance given to infrastructure development in China; this includes airports, toll roads, communications, ports, power plants and water. The purpose of this paper is to assess the significance and...

This thesis presents empirical research into the project risk pricing decision undertaken by Australian project leaders for domestic project finance. It addresses questions about the relative importance of various project finance risks on the project risk pricing decision; the impact of risk...

Social controls influence the environmental performance of firms and require them to be more accountable for their environmental impacts. These controls include governmental interventions such as mandatory disclosure requirements, regulation and subsidisation, as well as less formal controls...

Moral Hazard and the Agency Costs thereof have long been accepted arguments in venture finance theory and have therefore long been accepted shortcomings in the venture capitalist / entrepreneur relationship. In psychological experiments ? including economic ? it has been shown that human beings...

We examine several measures of uncertainty to make five points. First, equity market traders and executives at nonfinancial firms have shared similar assessments about one-year-ahead uncertainty since the pandemic struck. Both the one-year VIX and our survey-based measure of firm-level...

We examine several measures of uncertainty to make five points. First, equity market traders and executives at nonfinancial firms have shared similar assessments about one-year-ahead uncertainty since the pandemic struck. Both the one-year VIX and our survey-based measure of firm-level...

The corporate finance literature documents that managers tend to overinvest into physical assets. A number of theoretical contributions have aimed to explain this stylized fact, most of them focussing on a fundamental agency problem between shareholders and managers. The present paper shows that...

The authors assess the role of the multilateral development system and the reforms needed to support the new global agenda. There is an urgency to the reforms. The coming decades will see the largest urban expansion in history. More infrastructure needs to be built in the next 15 years than the...

This paper offers a new perspective on a fundamental issue of venture capital investments, i.e., the so-called black box of involvement that concerns the paucity of relevant information necessary for venture capital managers to evaluate investments properly. Our paper discusses the application...