Search Results - subject:"value maximization"

Agent Behaviour, Financial Market and Welfare Theory

Paranque, Bernard; Baets, Walter; Pruden, Henry - EconWPA - 2005

An important literature has pointed out the coordination problems faced by the agents, in particular the financial one when they have to manage risk and their portfolio. If we follow Kaldor and its definition of speculation, then we could point out that in this case agents are short term...

Persistent link: https://www.econbiz.de/10005413089

How Do Information Ambiguity and Timing of Contextual Information Affect Managers’ Goal Congruence in Making Investment Decisions in Good Times vs. Bad Times?

Ho, Joanna; Keller, L.; Keltyka, Pamela - In: Journal of Risk and Uncertainty 31 (2005) 2, pp. 163-186

-serving bias in good times or their firm-value maximization tendency in bad times. Interestingly, we also observed managers’ use of … number of managers switched to the self-serving option in good times (the gain condition) but stayed with firm-value … maximization in bad times (the loss condition). In Experiment Two, the information was presented simultaneously in the presence and …

Persistent link: https://www.econbiz.de/10005709668

Value Maximization As An Ex Post Consistent Firm Objective When Markets are Incomplete

Sabarwal, Tarun - EconWPA - 2004

In competitive economies with private firm ownership, incomplete markets, and firm shareholders changing over time, several firm objectives have been proposed. Some are useful to understand efficiency of equilibria, and others are explicitly consistent with majority shareholder control or...

Persistent link: https://www.econbiz.de/10005125633

Chapter 54. Urban Political Economics

Helsley, Robert W. - In: Handbook of regional and urban economics : volume 4, …, (pp. 2381-2421). 2004

This chapter considers the role of economic and political institutions in the formation of local public policies. The chapter has three objectives. First, to synthesize the dominant models of local policy formation with mobile households, with particular emphasis on the objectives that are...

Persistent link: https://www.econbiz.de/10014024008

How can management deliver value for shareholders?

Chen, Andrew; Conover, James; Kensinger, John - In: Journal of Financial Transformation 7 (2003), pp. 93-101

value maximization as a business goal, but has yet to clarify the reforms that are really needed. Since 1980, though, a …

Persistent link: https://www.econbiz.de/10008518303

An Experimental Test for Stability of the Transformation Function in Rank-Dependent Expected Utility Theory and Order-Dependent Present Value Theory

Gigliotti, Gary; Sopher, Barry - Department of Economics, Rutgers University-New Brunswick - 1998

We propose and analyze a generalization of present value maximization, "time-order dependent present value (TODPV …

Persistent link: https://www.econbiz.de/10005750237

ORDER-DEPENDENT PRESENT VALUE: THEORY AND AN EXPERIMENTAL TEST

Gigliotti, Gary; Sopher, Barry; Klein, Roger - Department of Economics, Rutgers University-New Brunswick - 1998

We propose and analyze a generalization of present value maximization, "order dependent present value (ODPV)," for …

Persistent link: https://www.econbiz.de/10005750246