This paper investigates whether overleverage identifies companies' strategic default incentives. The results show that overlevered firms have lower equity beta than their counterparts. The strategic default option becomes more valuable when the firms are overlevered. Firms are more likely to be...

This paper investigates whether the late payment problem exists among corporations in the US. Our results suggest that liquidity shortage and strategic intention are the main causes of late payments. While large firms deliberately take advantage of their market power to “squeeze suppliers”,...

This paper describes a methodology for the case mix problem in the health care sector. Aiming at maximizing the overall financial contribution of the given resource capacity within a hospital, the case mix problem is formulated as an integer linear programming model to produce the optimal...

Groundwater is experiencing substantial overdrafts and bearing ever-mounting freshwater demand. Existing groundwater management strategies are myopic and fail to orchestrate production and the operation of protection approaches, including managed aquifer recharge (MAR) and seawater intrusion...

This paper intends to evaluate the impact of financial deregulation of US before 2008 through how the risks associated with mergers and acquisitions (M&As) affect banks' levels of solvency. This paper is the first that hypothesizes bank solvency to be affected by M&As directly and indirectly...