Emphasis on first-mover advantages has led strategic management researchers to advocate speed as a key to competitiveness. By contrast, real option theory emphasizes the value of waiting when considering sunk investments under uncertainty. We revisit the strategy question of market entry timing...

To a greater extent than is often stressed in extant literature, preference assumptions affect responses to monetary shocks in representative agents models. Temporary money shocks can have persistent real effects in cash in advance models if the marginal utility of leaisure is a decreasing...

The paper investigates the agency argument that sales growth in firms with free cash flow (and without strong governance) is less profitable than sales growth for firms without free cash flow. It also tests whether strong governance conditions improve the performance of firms with free cash flow...

Adams Smith presented the notion of the labor commanded by a commodity in the marketplace. Much of what we think and we know regarding Smith's value measure and its role in his larger system must be jettisoned. That alone qualifies this new view as deserving of the most careful inspection, and...

Perron and Yabu (2008) consider the problem of testing for a break occuring at an unknown date in the trend function of a univariate time series when the noise component can be either stationary or integrated. This paper extends their work by proposing a sequential test that allows one to test...

In this article and in related research, we argue the both family and income structure matter for a variety of labor market behaviors and outcomes for both women and men and that it is important to take these variables into account.