This paper tests the hypothesis that irrational market misvaluation affects firms' takeover behavior. We employ two contemporaneous proxies for market misvaluation, pre-takeover book/price ratios and pre-takeover ratios of residual income model value to price. Misvaluation of bidders and targets...

The question of why individual investors want dividends is investigated by submitting a questionnaire to a Dutch investor panel. The respondents indicate that they want dividends partly because the cost of cashing in dividends is lower than the cost of selling shares. Their answers provide...

We test whether and how equity overvaluation affects corporate financing decisions using an ex ante misvaluation measure that filters firm scale and growth prospects from market price. We find that equity issuance and total financing increase with equity overvaluation, but only among overvalued...

This research investigates how the experience learned in repeated transactions by consumers and manufacturers would affect supply-chain partners' strategic decisions such as price, order quantity and service level. Consumer demand depends on two factors: (1) retailer price and (2) service level...

In this paper, we study the optimization of yard operations, which are critical for the terminal efficiency. A linear mixed integer programming (MIP) model is proposed for scheduling different types of equipment and planning the storage strategy in an integrated way. We also investigate a...