We address two mean-variance asset allocation and hedging problems in continuous-time incomplete markets. The resolution emphasizes the geometric properties of mean-variance portfolios and underlines the role of two specific portfolios: The minimum norm and the minimum variance portfolios. We...

Event studies indicate that divestitures create shareholder value. However, managers are generally disinclined to execute a divestiture due to their inherent preferences for growing the firm’s assets. Governance structures can play a significant role in restraining this agency conflict. Using...

Event studies indicate that divestitures create shareholder value. However, managers are generally disinclined to execute a divestiture due to their inherent preferences for growing the firm’s assets. Governance structures can play a significant role in restraining this agency conflict....