Ownership has been identified as a key mechanism in corporate governance. Agency theory suggests that high levels of ownership provide increased incentive for shareholders to monitor firm management which should lead to better firm performance. However, not every shareholder may have the same...

We study the risk-averse newsvendor model with a mean-variance objective function. We show that stockout cost has a significant impact on the newsvendor's optimal ordering decisions. In particular, with stockout cost, the risk-averse newsvendor does not necessarily order less than the...

In a multi-component system, the assumption of failure independence among components is seldom valid, especially for those complex systems with complicated failure mechanism. For such systems, warranty cost is subject to all the factors including system configuration, quality of each component...

Purpose– The purpose of this paper is to identify the determinants for currency internationalization and forecast the potential of RMB as an international reserve currency. Design/methodology/approach - This paper performs linear or non-linear regressions of the shares of eight major...

We examine the effect of a country's governance environment on its propensity to trade. Using an updated framework of governance environment, we classify countries based on the dominant mode of governance into three types: (1) rule-based (strong public rule of law), (2) relation-based (weak rule...

In the past two decades, emerging market multinationals (EMMs) have been trying to catch up with developed market multinationals (DMMs) and are increasingly making their presence felt on the global competitive landscape. It is essential for DMMs to monitor the strategies and geographical...

Both the degree distribution and the degree–rank distribution, which is a relationship function between the degree and the rank of a vertex in the degree sequence obtained from sorting all vertices in decreasing order of degree, are important statistical properties to characterize complex...

Purpose -With boards of directors playing both monitoring and guidance roles, the purpose of this paper is to examine the impact of board structure on firm value in large US and UK firms using the lenses of agency and resource dependence theories. Design/methodology/approach -Using a sample of...