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This paper studies the impact of corporate acquisitions - both domestic and cross-border - on the uncertainty faced by …-level uncertainty is characterized by a pecking order: the announcement of a domestic takeover leads to a reduction in the uncertainty … - engender a positive response in acquirers' volatility. Our results suggest that acquisitions affect uncertainty because they …
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Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists both think of capital as an 'economic' entity that they count in universal units of ‘utils’ or 'abstract labour', respectively....
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our findings in the framework of a theoretical model in which risk affects the size of the social sector and in which …
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and/or may benefit from more rapid careers. Hence, the costs of uncertainty and the benefits of skill upgrading associated …
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