Management meted out punishment to enforce rules and encourage adherence. However, the effectiveness depended on how the employees perceive and interpret the policy. This study tested the effect of reducing individual lateness in a plastic factory. Field experiment was conducted to test the...

This article characterizes the properties of the compensation scheme of delegated portfolio management that would lead to the selection of high risk-high return portfolios. In particular, it provides conditions under which a non-monotone payment structure emerges as an optimal contract, which...

This study assesses the level of implementation of Enterprise Risk Management (ERM) in companies listed in the Nairobi Stock Exchange (NSE). The study also seeks to test the significance of factors affecting this level of ERM implementation and to investigate whether the level of ERM...

The aim of this paper is to empirically analyze the effect of financial constraint, information asymetry on the firm investment. On the basis of a data relating to 394 Tunisian firms observed over the period 2001-2008 and by adopting the panel data method, our findings show that the effect of...

Financial arrangements determine how and the amount of financing that can be obtained from fund providers. An optimal allocation between equity and debt is determined by the trade-off between the net tax advantage of additional corporate leverage and the costs associated with the increased...

Decisions relating to working capital involve managing relationships between a firm's short-term assets and liabilities to ensure a firm is able to continue its operations, and have sufficient cash flows to satisfy both maturing short-term debts and upcoming operational expenses at minimal...

In western countries outsourcing has been an integral part of many enterprises for a long time. In Poland it is increasingly seen as a part of a long-term development strategy. Although Poland is only beginning to mark its presence in this area, it is quite often listed as one of the countries...

This paper analyzes the determinants of governance transparency. In our model, entrepreneurs optimally decide the precision of their earning reporting by trading off the possibility of expropriating profits against the capacity to attract external funding.We find that information is only...

The aim of this research is to explore the relationship of corporate governance with firm risk. This study establishes a link between corporate governance variables and firm risk for a sample of 106 Pakistani firms over a time of six years (2005-2010). Based on the estimation results, family...

The subject of this paper is a modified net present value, and how it could be a useful tool for synergy valuation in the process of business combination. Every successful acquisition has to result in synergy in the post acquisition value. In the process of valuation each company has three...