infonet-economy

An overwhelmingly large number of research studies in corporate Finance span the basis formed by chiefly three corporate policies - Financial policy (leverage), dividend policy, and investment policy. The two most oft-cited frictions, agency issues and asymmetric information, add complexities to the nexus formed by the policies. My empirical dissertation, "Three essays in real...

Using Swiss Labor Force Survey data from 1996 to 2009, the authors estimate the earning losses of workers experiencing an involuntary job loss. Two empirical strategies are followed: the standard approach of the earning losses literature and a new method that allows to consider the full set of involuntary separations, also those individuals with zero earnings because of unemployment...

The paper considers panel data methods for estimating ordered logit models with individual-specific correlated unobserved heterogeneity. We show that a popular approach is inconsistent, while a number of consistent and effcient estimators are available, including minimum distance and GMM. A Monte Carlo study reveals the good properties of an alternative estimator that has not been...

The early tenure of a new Chief Executive Officer (CEO), also referred to as ‘the CEO post-succession process’, is a critical phase in the history of an organization, because it is associated with a high rate of organizational failure and CEO dismissal. Research on this important process has grown rapidly over the last decade, focusing particularly on the question of how the match...

Recently, Cánovas et al. presented an interesting result: the argmin mapping of a linear semi-infinite program under canonical perturbations is calm if and only if some associated linear semi-infinite inequality system is calm. Using classical tools from parametric optimization, we show that the if-direction of this condition holds in a much more general framework of optimization...

This paper analyzes whether effort provision in entrepreneurial teams depends on the size of the team, assuming that size determines the strength of free-riding and peer pressure effects in entrepreneurial teams. We provide a theoretical model and empirical analyses to explain the joint effect of free-riding and peer pressure on effort in start-up teams. We begin with an economic...