When the risk premium in the US stock market fell far below its historic level, Shiller (2000) attributed this to a bubble driven by psychological factors. As an alternative explanation, we point out that the observed risk premium may be reduced by one-sided intervention policy on the part of...

The risk premium in the US stock market has fallen far below its historic level, which Shiller (2000) attributes to a bubble driven by psychological factors. As an alternative explanation, we point out that the observed risk premium may be reduced by one-sided intervention policy on the part of...

Is sovereign borrowing so different from corporate debt that there is no need for bankruptcy-style procedures to protect debtors? With the waiver of immunity, sovereign debtors who al-ready face severe disruption from short-term creditors grabbing their currency reserves are also exposed to...

We study the impact of quot;style investingquot; on the market for corporate control. We argue that a firm may boost its market value by merging with a firm that belongs to an investment style that is more popular with the market. By using data on the flows in mutual funds, we construct a...

Over the past decade, companies worldwide have used corporate venturing (CV) as a means of revitalizing their operations, building new capabilities, and achieving strategic renewal, creating value for shareholders. Business interest in CV has stimulated academic interest in the topic, resulting...

Mutual guarantee systems (MGS) of small and medium enterprises (SMEs) ares complex system mainly serving the SMEs, including the mutual guarantee institutions formed by SMEs, financial institutions, industry associations and credit re-guarantee institutions. From the perspective of system...

Previous studies show that the concept of L♮-convexity is helpful in characterizing the optimal policy for some inventory models with positive leadtimes. Such examples include the lost-sales inventory model by Zipkin (2008). On the structure of lost-sales inventory models. Operations Research,...

As the key feature size keeps shrinking down, inductively coupled plasma (ICP) has been widely used for etching. In this study, a commercial ICP etcher filled with Cl2/Ar mixture was simulated. The simulation was based on a commercial software CFD-ACE+, which is a multi-module solver. For the...

Stochastic periodic-review batch ordering inventory problems appear in many industrial settings. However, few literature deals with the optimal ordering polices for such problems, no mention to the inclusion of the fixed ordering cost and the production capacity. In this paper, we consider a...