discretion in determining the level of investment. What is the link between stock price informational efficiency and economic … efficiency? We present a model of the stock market in which: (i) managers have discretion in making investments and must be given …

We used advances in data envelopment analysis (DEA) techniques to examine efficiency scores and investigate the issue … were not robust. Further, we broke the sample into groups to examine club convergence. We found that efficiency scores were … significantly different between groups and that there was same evidence of convergence of efficiency scores within each group …

Market efficiency is measured by arbitrage proximity. The magnitude of probability distortion necessary to remove drift … calibrates the efficiency. Simulations of bilateral gamma models estimated on a year's past returns yield empirical acceptability … observed that efficiency in equity is related to the up side gamma process having more frequent and smaller jumps than its down …

efficiency of a polycentric regulatory system …

A firm's marketing efficiency, the ability to optimally deploy and integrate different marketing inputs to achieve high … sales revenue at low cost, is persistent. High marketing efficiency predicts better future operating performance and stock … returns, especially in competitive industries. A marketing efficiency-based long-short portfolio strategy earns an average …

entry externalities from growth theory through a general entry tax formula for a non-paternalistic planner. The business … characteristics for efficiency. For instance, as the labor share increases, the optimal tax decreases under agreement but increases … efficiency with agreement, but call for different policies once financial market speculation is taken into account …

It is commonly overlooked that the concept of market efficiency embowers a time-dimension. Illustrating with an example … inefficient on another. This means that just as market efficiency can only be defined relative to an information set, it also … original information set. That is, just as excess volatility is a violation of market efficiency with respect to its filtration …

, industrial pricing strategies and determinants) and then attempted to show how pricing contributes to efficiency. Few special … management accountants (CMA), if we can prove our efficiency in pricing of products, we can ultimately enhance the efficiency of …