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Corporate board composition, protocols, and voting behavior: experimental evidence

Gillette, Ann B.; Noe, Thomas H.; Rebello, Michael J. - 2000

We model experimentally the governance of an institution. The optimal management of this institution depends on the information possessed by insiders. However, insiders, whose interests are not aligned with the interests of the institution, may choose to use their information to further personal...

Persistent link: https://www.econbiz.de/10010397394

Corporate hedging in the insurance industry: the use of financial derivatives by U.S. insurers

Cummins, J. David; Phillips, Richard D.; Smith, Stephen D. - 1996

In this paper we investigate the extent to which insurance companies utilize financial derivatives contracts in the … contracts, namely, those normally through of as off-balance-sheet (OBS). We provide information on the number of insurers using … various types of derivatives contracts and the volume of transactions in terms of notional amounts and the number of …

Persistent link: https://www.econbiz.de/10010397503

If at first you don't succeed: an experimental investigation of the impact of repetition options on corporate takeovers

Gillette, Ann B.; Noe, Thomas H. - 2000

This paper models, and experimentally simulates, the free-rider problem in a takeover when the raider has the option to "resolicit," that is, to make a new offer after an offer has been rejected. In theory, the option to resolicit, by lowering offer credibility, increases the dissipative losses...

Persistent link: https://www.econbiz.de/10010397559

Derivatives and corporate risk management: participation and volume decisions in the insurance industry

Cummins, J. David; Phillips, Richard D.; Smith, Stephen D. - 1997

In this paper we formulate and test a number of hypotheses regarding insurer participation and volume decisions in derivatives markets. Several specific hypotheses are supported by our analysis. We find evidence consistent with the idea that insurers are motivated to use financial derivatives to...

Persistent link: https://www.econbiz.de/10010397580

Firms and flexibility

Hobijn, Bart; Sahin, Aysegül - 2007

We study the effects of labor market rigidities and frictions on firm-size distributions and dynamics. We introduce a model of endogenous entrepreneurship, labor market frictions, and firm-size dynamics with many types of rigidities, such as hiring and firing costs, search frictions with vacancy...

Persistent link: https://www.econbiz.de/10010283302