Purpose–The purpose of this paper is to empirically analyze the effects of managerial overconfidence on debt maturity structure decisions in terms of liquidity risk and asset match in Chinese listed companies. Design/methodology/approach–Combining data from CSMAR with some default data...

Competitive pressures and demanding business environments emphasise the importance of a firm's technological capabilities as a source of sustainable competitive advantage. Firms are increasingly looking at better ways of managing their technological resources over the long-term through the...

Economic environmental dispatch (EED) is a significant optimization problem in electric power system. With more wide spread use of wind power, it is necessary to include wind energy conversion system (WECS) in the EED problem. This paper presents a model to solve the EED problem incorporating...

Using a Mortensen-Pissarides search-and-matching framework, this paper investigates the importance of search frictions in determining the welfare and distributional effects of tax reforms that re-allocate the tax burden from capital to labour income. Calibrating the model to the UK economy, we...

This paper evaluates the e¤ects of policy interventions on sectoral labour markets and the aggregate economy in a business cycle model with search and matching frictions. We extend the canonical model by including capital-skill complementarity in production, labour mar- kets with skilled and...

This paper identifies a limit to arbitrage that arises because firm value is endogenous to the exploitation of arbitrage. Trading on private information reveals this information to managers and improves their real decisions, enhancing fundamental value. While this feedback effect increases the...