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We study three problems on supply chain location and inventory under uncertainty. In Chapter 2, we study the inventory purchasing and allocation problem in a movie rental chain under demand uncertainty. We formulate this problem as a newsvendor-like problem with multiple rental opportunities. We...
Persistent link: https://www.econbiz.de/10009455191
This dissertation contains two essays in empirical finance. The first essay studies the mutual fund industry, and the second essay looks into the stock market. Both studies provide insights in the underlying mechanism of some asset return patterns identified from the data currently available.The...
Persistent link: https://www.econbiz.de/10009455219
investors about a bank’s market risk exposure and its risk management system. Additional evidence during the recent crisis … efficacy of risk management practices and the quality of risk governance mechanisms. However, I still find that a large …
Persistent link: https://www.econbiz.de/10009455220
This thesis examines how industry differences affect both corporate financial policies and valuation. Chapter 1 studies the impact of a firm‟s product market power, through the channel of business risk, on its dividend policy. Using three measures of market power – the Herfindahl-Hirschman...
Persistent link: https://www.econbiz.de/10009455221
This dissertation examines the perceptual bias of investors and securities analysts (the “audience” in the stock market) in their valuation of public firms’ innovative activities. I suggest that such bias occurs because the audience views a firm’s innovation through the prism of the...
Persistent link: https://www.econbiz.de/10009455234
It is surprising that the prevailing performance taxonomy for scientists (Star versus Non-Star) focuses only on individual output and ignores social behavior since scholars often characterize innovation as a communal process. To address this deficiency, I expand the traditional taxonomy that...
Persistent link: https://www.econbiz.de/10009455237
This thesis is a collection of three essays in empirical studies on derivatives. In the first chapter, I investigate whether credit default swap spreads are affected by how the total risk is decomposed into the systematic risk and the idiosyncratic risk for a given level of the total risk. The...
Persistent link: https://www.econbiz.de/10009455243
In this thesis, I study three aspects of idiosyncratic volatility. First, I examine the relation between idiosyncratic volatility and future stock returns. Next, I examine the share price effect and its interaction with the idiosyncratic volatility on stock returns. Finally, I examine the time...
Persistent link: https://www.econbiz.de/10009455246
Building on recent work in economic geography, evolutionary economics, and international business, I examine how firms that enter from outside a region alter the knowledge and opportunity structure for potential entrepreneurial entrants and indigenous incumbents in that region. In particular, I...
Persistent link: https://www.econbiz.de/10009455277
This dissertation investigates the relation between firm disclosure, analyst forecast bias, and the cost of equity capital (COEC). Since analyst forecast bias is associated with both implied COEC estimates and disclosure, it is important to control for or remove it from COEC estimates when...
Persistent link: https://www.econbiz.de/10009455282