Download or read book Choice of Payoff Horizon and Firm Performance to 25 Pages 26 to 50 Pages 51 to 75 Pages 76 to 100 Pages 101 to 125 Pages 126 to 150 Pages 151 to 175 Pages 176 to 200 Pages 201 to 212 written by David Lawrence Souder and published by ProQuest. This book was released on 2000 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Choice of Payoff Horizon and Firm Performance written by David Lawrence Souder and published by . This book was released on 2007 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: "An important managerial challenge is choosing the payoff horizon for strategic investments, since projects with long run benefits have immediate costs that reduce short run profits. My dissertation draws from the behavioral theory of the firm and agency theory to explain differences in payoff horizon choices between firms, based on performance relative to aspirations, incentive compensation, and external market pressure. I also test the intuition that long horizon investments have a positive impact on long run performance. The business model for cable operators during its programming variety phase from 1972-1996 offers a quasi-experimental setting ideally suited for research into these issues. Like public utilities, local cable companies are natural monopolies with single providers in each market. Unlike electricity, heat, or water service, however, there is neither a mandate for universal service nor municipal financing for capital investments. Furthermore, the distribution technology of microwave and, later, satellite eliminate the need for single firms to serve contiguous geographic regions, and the industry's pre-1972 history as a broadcast retransmission service contributed to a particularly disparate pattern of geographic expansion. As a result, cable operators during the research period do not compete with each other for market share among customers, but they do compete over future growth through their choice of investments. These investments have varying payoff horizons. In testing predictions about which firms pursue longer or shorter payoff horizons, I use simultaneous equation techniques. To assess the impact of short- and long-horizon investments on ex post performance, I use dynamic panel modeling that allows the direction and significance of investment choices to be interpreted at different lag lengths. What makes firms choose different payoff horizons? Are longer horizon investments associated with higher eventual performance, as conventional wisdom suggests? The first question is central to understanding firm strategy, while the second is crucial for evaluating that strategy. By addressing both, my dissertation generates corporate governance implications and insight into the value-creation potential of longer payoff horizons. In addition, it analyzes the causes and effects of the wide heterogeneity of firm strategies observed in the partially regulated and monopolistic cable industry"--Http://www.cablecenter.org/education/awards/2006GrantWinner.cfm (as viewed on 08/18/08)

Download or read book Time Horizons and Technology Investments written by National Academy of Engineering and published by National Academies Press. This book was released on 1992-02-01 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is frequently argued that U.S. corporations have shorter time horizons for planning and investment than their Japanese and German competitors. This argument, though widely accepted in studies of U.S. competitiveness, has rarely been examined in depth. Time Horizons and Technology Investments explores the evidence that some U.S. corporations consistently select projects biased toward short-term return and addresses factors influencing the time-related preferences of U.S. corporate managers in selecting projects for investment. It makes recommendations to policymakers and managers about policies to mitigate negative external influences and about strategies to remove internal biases toward noncompetitive decisions.

Download or read book The Oxford Handbook of Personnel Assessment and Selection written by Neal Schmitt and published by Oxford University Press. This book was released on 2012-03-28 with total page 992 pages. Available in PDF, EPUB and Kindle. Book excerpt: Employee selection has long stood at the practical forefront of industrial/organizational psychology. Today's social, business, and economic climates require ongoing adaptations by those who select organizations' personnel, and research on the topic helps gauge the impact of these adaptations and their implications for human performance and potential. The Oxford Handbook of Personnel Assessment and Selection codifies the wealth of new research surrounding employee selection (web-based assessments, social networking, globalization of organizations), situating them alongside more traditional practices to establish the best and most relevant research for both professionals and academics. Comprising chapters from authors in both the private sector and academia, this volume is organized into seven parts: (1) historical and social context of the field of assessment and selection; (2) research strategies; (3) individual difference constructs that underlie effective performance; (4) measures of predictor constructs; (5) employee performance and outcome assessment; (6) societal and organizational constraints on selection practice; and (7) implementation and sustainability of selection systems. While providing a comprehensive review of current research and practice, the purpose of this handbook is to provide an up-to-date profile of each of the areas addressed and highlight current questions that deserve additional attention from researchers and practitioners. This compendium is essential reading for industrial/organizational psychologists and human resource managers.

Download or read book Proceedings of the XIII International Symposium SymOrg 2012 Innovative Management and Business Performance written by and published by University of Belgrade, Faculty of Organizational Sciences . This book was released on 2012-06-03 with total page 2004 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Role of Long Term Finance written by Gerard Caprio and published by World Bank Publications. This book was released on 1997 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Advanced Financial Risk Management written by Donald R. Van Deventer and published by John Wiley & Sons. This book was released on 2011-09-29 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at financial risk management Advanced Financial Risk Management integrates interest rate risk, credit risk, foreign exchange risk, and capital allocation using a consistent risk management approach. It explains, in detailed, yet understandable terms, the analytics of these issues from A to Z. Written by experienced risk managers, this book bridges the gap between the idealized assumptions used for valuation and the realities that must be reflected in management actions. It covers everything from the basics of present value, forward rates, and interest rate compounding to the wide variety of alternative term structure models. Donald R. Van Deventer (Hawaii) founded the Kamakura Corporation in April 1990 and is currently President. In 2003, he was voted into the Risk Hall of Fame for having made a profound contribution to the field of risk management. Kenji Imai (Hawaii) heads Software Development for Kamakura and participates in selected Japan-related financial advisory assignments. Mark Mesler (Hawaii) heads the information production for Kamakura Risk Information Services.

Download or read book A Theory of the Firm written by Michael C. Jensen and published by Harvard University Press. This book was released on 2003-09-30 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection examines the forces, both external and internal, that lead corporations to behave efficiently and to create wealth. Corporations vest control rights in shareholders, the author argues, because they are the constituency that bear business risk and therefore have the appropriate incentives to maximize corporate value. Assigning control to any other group would be tantamount to allowing that group to play poker with someone else's money, and would create inefficiencies. The implicit denial of this proposition is the fallacy of the so-called stakeholder theory of the corporation, which argues that corporations should be run in the interests of all stakeholders. This theory offers no account of how conflicts between different stakeholders are to be resolved, and gives managers no principle on which to base decisions, except to follow their own preferences. In practice, shareholders delegate their control rights to a board of directors, who hire, fire, and set the compensation of the chief officers of the firm. However, because agents have different incentives than the principals they represent, they can destroy corporate value unless closely monitored. This happened in the 1960s and led to hostile takeovers in the market for corporate control in the 1970s and 1980s. The author argues that the takeover movement generated increases in corporate efficiency that exceeded $1.5 trillion and helped to lay the foundation for the great economic boom of the 1990s.

Download or read book Dictionary of Financial Risk Management written by Gary L. Gastineau and published by John Wiley & Sons. This book was released on 1999-11-15 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gary Gastineau and Mark Kritzman team up once again for the third edition of this classic reference tool designed for financial analysts and managers. Anyone involved in financial risk management must have a proper understanding of the words, terms, and phrases used in this fast paced field-and Dictionary of Financial Risk Management clearly provides that understanding. Risk management terminology is a part of almost any financial operation, including cash, forwards/futures, swaps, options-and is found in many disciplines: probability and statistics, tax and financial accounting, and law. The vocabulary of the risk manager continues to expand with the creation of new products and new concepts. This volume carefully defines and illustrates all the words and phrases that financial professionals need to know and understand. The Dictionary of Financial Risk Management includes listings of common acronyms, profit/loss diagrams of new financial instruments, and extensive coverage of derivatives and quantitative techniques. This invaluable reference guide provides comprehensive definitions of the key terms and concepts that many financial professionals need to know on a day-to-day basis.

Download or read book FX Option Performance written by Jessica James and published by John Wiley & Sons. This book was released on 2015-06-22 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Get the little known – yet crucial – facts about FX options Daily turnover in FX options is an estimated U.S. $ 207 billion, but many fundamental facts about this huge and liquid market are generally unknown. FX Option Performance provides the information practitioners need to be more effective in the market, with detailed, specific guidance. This book is a unique and practical guide to option trading, with the courage to report how much these contracts have really made or lost. Breaking free from the typical focus on theories and generalities, this book gets specific – travelling back in history to show exactly how options performed in different markets and thereby helping investors and hedgers alike make more informed decisions. Not overly technical, the rigorous approach remains accessible to anyone with an interest in the area, showing investors where to look for value and helping corporations hedge their FX exposures. FX Option Performance begins with a quick and practical introduction to the FX option market, then provides specific advice toward structures, performance, rate fluctuation, and trading strategies. Examine the historical payoffs to the most popular and liquidly traded options Learn which options are overvalued and which are undervalued Discover surprising, generally unpublished facts about emerging markets Examine systemic option trading strategies to find what works and what doesn't On average, do options result in profit, loss, or breaking even? How can corporations more cost-effectively hedge their exposure to emerging markets? Are cheap out-of-the-money options worth it?

Download or read book Quarterly Journal of Business and Economics written by and published by . This book was released on 2001 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Theory of Corporate Finance written by Jean Tirole and published by Princeton University Press. This book was released on 2010-08-26 with total page 657 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Magnificent."—The Economist From the Nobel Prize–winning economist, a groundbreaking and comprehensive account of corporate finance Recent decades have seen great theoretical and empirical advances in the field of corporate finance. Whereas once the subject addressed mainly the financing of corporations—equity, debt, and valuation—today it also embraces crucial issues of governance, liquidity, risk management, relationships between banks and corporations, and the macroeconomic impact of corporations. However, this progress has left in its wake a jumbled array of concepts and models that students are often hard put to make sense of. Here, one of the world's leading economists offers a lucid, unified, and comprehensive introduction to modern corporate finance theory. Jean Tirole builds his landmark book around a single model, using an incentive or contract theory approach. Filling a major gap in the field, The Theory of Corporate Finance is an indispensable resource for graduate and advanced undergraduate students as well as researchers of corporate finance, industrial organization, political economy, development, and macroeconomics. Tirole conveys the organizing principles that structure the analysis of today's key management and public policy issues, such as the reform of corporate governance and auditing; the role of private equity, financial markets, and takeovers; the efficient determination of leverage, dividends, liquidity, and risk management; and the design of managerial incentive packages. He weaves empirical studies into the book's theoretical analysis. And he places the corporation in its broader environment, both microeconomic and macroeconomic, and examines the two-way interaction between the corporate environment and institutions. Setting a new milestone in the field, The Theory of Corporate Finance will be the authoritative text for years to come.

Download or read book Corporate Takeovers written by Alan J. Auerbach and published by University of Chicago Press. This book was released on 2013-12-30 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: The takeover boom that began in the mid-1980s has exhibited many phenomena not previously observed, such as hostile takeovers and takeover defenses, a widespread use of cash as a means of payment for targeted firms, and the acquisitions of companies ranking among the largest in the country. With the aim of more fully understanding the implications of such occurances, contributors to this volume consider a broad range of issues as they analyze mergers and acquisitions and study the takeoveer process itself.

Download or read book Corporate Governance and Board Decisions written by Steen Thomsen and published by Djøf Forlag. This book was released on 2019-02-01 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance and Board Decisions takes the reader on an exciting journey through the principles and practice of corporate governance. Written by two internationally respected experts, this book explains how corporate governance contributes to value creation for both business and society, and how transparency, checks and balances, incentive alignment, and stewardship are essential when trying to reduce decision errors and opportunism. This advanced introduction is aimed at master’s level courses in corporate governance. It addresses students who wish to understand both corporate governance and the directors who practice it. It combines academic rigor with practical recommendations in an informal style. Corporate Governance and Board Decisions is a thoroughly revised and updated replacement of Corporate Governance: Mechanisms and Systems (2012).

Download or read book Global Business Concepts Methodologies Tools and Applications written by Management Association, Information Resources and published by IGI Global. This book was released on 2011-05-31 with total page 2628 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This multi-volume reference examines critical issues and emerging trends in global business, with topics ranging from managing new information technology in global business operations to ethics and communication strategies"--Provided by publisher.

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Download or read book Corporate Performance and the Exposure to Macroeconomic Fluctuations written by Lars Oxelheim and published by . This book was released on 2005 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: