We examine the effect of CEO pensions and deferred compensation (inside debt) on firm cash holdings and the value of cash. We document a positive relation between CEO inside debt and firm cash holdings. This positive effect is magnified by firm leverage and mitigated by the presence of financial...

We examine the influence of economic downturns on the relation between diversification and firm value in a large panel of U.S. firms over the period from 1984 to 2014. When markets are incomplete or there are significant frictions, diversification provides value when the fortunes of one business...

This paper reviews the research process conducted on developing a new system for industry wastewater treatment application to increase efficiency and sustainability by adopting industry 4.0 technology. The challenge of this project was to (a) utilize the design thinking methodology...

This article investigates the relationship between product market behaviour and corporate restructuring policies. We focus on two types of corporate restructuring events: acquisitions and divestitures. We find that 1 year after acquisition, acquiring firms on average experience long-term...

"We examine stock and bond price reactions to CEOs' first stock option and/or restricted stock grants that appear on ExecuComp. We find positive stock price and negative bond price reactions. Changes in CEO pay-performance (delta) and stock volatility (vega) sensitivities relate to the...

"This paper investigates the governance implications of a firm's capital structure and managerial incentive compensation in controlling the free cash flow agency problem. The results suggest: debt and executive stock options act as substitutes in attenuating a firm's free cash flow problem;...

Purpose -The purpose of this paper is to examine CEO wealth changes around seasoned equity offerings (SEOs) to explore the shareholder-manager incentive alignment in major corporate equity financing decisions. Design/methodology/approach -The authors decompose CEO wealth into three major...