This paper presents an optimization model for maximizing the insurer’s underwriting profits in any particular line of insurance at a point in time. We propose the use of mathematical programming to maximize underwriting profits when the objective function is expressed as a nonlinear convex...

This paper examines the effect of wealth on the demand for deductibles both theoretically and empirically for the case of flood insurance. Our study provides a synthesis and empirical examination of the economic theory of deductibles and its relationship with wealth. Previous articles have not...

We test the ability of analyst characteristics to explain relative forecast accuracy across legal origins (common law versus civil law). Common law countries generally have more effective corporate governance mechanisms, including stronger investor protection laws and inputs provided through...

This is the first large study to examine the relation between analysts' stock recommendations, earnings forecasts, and future excess stock returns in an international context. We first document that some of the peculiar findings established in the U.S. extend to other countries where individual...

From 1994 to 1998, Bradshaw (2004) finds that analysts' stock recommendations relate negatively to residual income valuation estimates but positively to valuation heuristics based on the price-to-earnings-to-growth ratio and long-term growth. These results are surprising, especially considering...

Using data for the 186 public corporations in which the CEO's total annual remuneration exceeded NIS 1 million in 1997, we examine the statistically significant variables affecting the CEO's salary and the mean compensation of the five top executives. The results of our cross-sectional...

The Time-to-Market in the presence of a window of opportunity is analyzed using a probabilistic model; i.e.; a model where the completion time of new product development is a random variable characterized by a gamma distribution. Two cases are considered: the first, a case where the discounted...