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Parametric Integer Programming the Right Hand Side Case

Marsten, Roy E.; Morin, Thomas - 2021

A family of integer programs is considered whose right-hand-sides lie on a given line segment L. This family is called a parametric integer program (PIP). Solving a (PIP) means finding an optimal solution for every program in the family. It is shown how a simple generalization of the...

Persistent link: https://www.econbiz.de/10013232927

A Conic Algorithm for the Group Minimization Problem

Simeone, Bruno - 2021

A new algorithm for the group minimization problem (GP) is proposed. The algorithm can be broadly described as follows. A suitable relaxation of(GP) is defined, in which any feasible point satisfies the group equation but may have negative components. The feasible points of the relaxation are...

Persistent link: https://www.econbiz.de/10013224215

Global Portfolio Diversification for Long-Horizon Investors

Viceira, Luis M. - 2018

This paper conducts a theoretical and empirical investigation of global portfolio diversification for long … risk at long horizons and does not diminish the benefits of global portfolio diversification to long-term investors … volatility shocks. Our findings imply that the benefits of global equity diversification have not declined for long horizon …

Persistent link: https://www.econbiz.de/10012918085

Diversification and the Taxation of Capital Gains and Losses

Rendleman, Richard J.; Shackelford, Douglas A. - 2021

Current U.S. law nets the total portfolio of realized capital gains and losses to compute capital gains taxes. Prior research, however, typically ignores the implication of this provision, i.e., the marginal tax rate for a specific gain or loss depends on the taxpayer's total portfolio of...

Persistent link: https://www.econbiz.de/10013224305

Measuring the Benefits of Product Variety with an Accurate Variety Set

Blonigen, Bruce A.; Soderbery, Anson - 2021

Recent studies have used import data to assess the impact of foreign varieties on prices and welfare for a home country. The reliance on import data has a number of limitations. First, these papers rely on goods categories defined by the Harmonized System. Second, they define varieties using the...

Persistent link: https://www.econbiz.de/10013228054

Investor Diversification and International Equity Markets

French, Kenneth Ronald; Poterba, James M. - 2021

The benefits of international diversification have been recognized for decades. In spite of this, most investors hold … domestic equity market to be several hundred basis points higher than returns in other markets. This lack of diversification …

Persistent link: https://www.econbiz.de/10013228251

Obfuscation, Learning, and the Evolution of Investor Sophistication

Carlin, Bruce Ian; Manso, Gustavo - 2021

Investor sophistication has lagged behind the growing complexity of retail financial markets. To explore this, we develop a dynamic model to study the interaction between obfuscation and investor sophistication. Taking into account different learning mechanisms within the investor population, we...

Persistent link: https://www.econbiz.de/10013228646

Mentoring and Diversity

Athey, Susan; Avery, Christopher; Zemsky, Peter - 2021

This paper studies the forces which determine how diversity at a firm evolves over time. We consider a dynamic model o a single firm with two levels of employees, the entry level and the upper level. In each period, the firm selects a subset of the entry-level workers for promotion to the upper...

Persistent link: https://www.econbiz.de/10013235606

Conglomerate Industry Choice and Product Differentiation

Hoberg, Gerard - 2011

We use text-based computational analysis of business descriptions from 10-Ks to examine in which industries conglomerates are most likely to operate and to understand conglomerate valuations. We find that conglomerates are more likely to operate in industry pairs that are closer together in the...

Persistent link: https://www.econbiz.de/10013122462

Industrial De-Diversification and its Consequences for Productivity

Lichtenberg, Frank R. - 2021

diversification declined significantly during the second half of the decade. The mean number of industries in which firms operated … operated. using plant-level Census Bureau data, we show that productivity is inversely related to the degree of diversification …, the lower the productivity of its plants. Hence de-diversification is one of the means by which recent takeovers have …

Persistent link: https://www.econbiz.de/10013230386