The fifth merger wave in the USA and the parallel fourth merger wave in the UK that occurred in the 1990s was characterised by a large number of acquisitions of firms operating in high technology areas, such as the telecommunications, computers, the Internet, biotechnology, communications etc....

While the traditional agency model assumes managerial risk aversion and under-investment in high tech opportunities, the behavioural agency model allows for risk seeking by managers leading possibly to over-risky investments. Corporate governance mechanisms can correct both under- and over-risky...

In order to overcome the curtailment of wind energy caused by "power determined by heat" of combined heat and power units, this study proposes an integrated demand response strategy and optimization method for heat-electric energy dispatching in a regional integrated energy system. Firstly, a...

We explore the relation between institutional quality, trust and stock-market participation. In our theoretical model, agents update their beliefs in a Bayesian manner based on observations on frauds and choose whether to invest in the stock market. The corresponding empirical model shows that...

We analyze the importance of different types of asset holdings for the interdependence of the yield curves in the EMU using a spatial VAR model. We find that the cross-border holdings of long-term debt and bank lending are important for the interdependence. Our analysis of cross-sectional...

This article describes how images could be forged using different techniques, and the most common forgery is copy-move forgery, in which a part of an image is duplicated and placed elsewhere in the same image. This article describes a convolutional neural network (CNN)-based method to accurately...