Corporate Venture Capital, Value Creation, and Innovation

We analyze how corporate venture capital (CVC) differs from independent venture capital (IVC) in nurturing innovation in entrepreneurial firms. We find that CVC-backed firms are more innovative, as measured by their patenting outcome, although they are younger, riskier, and less profitable than IVC-backed firms. Our baseline results continue to hold in a propensity score matching analysis of IP…

Does Stock Liquidity Affect the Incentives to Monitor: Evidence from Corporat…

We test whether stock liquidity affects acquirer returns through its hypothesized effect on institutional monitoring. We find that firms with lower stock liquidity have higher acquirer gains for takeovers of private, but not for takeovers of public targets. The negative relation between liquidity and acquirer gains is stronger when the threat of disciplinary trading (exit) by institutions is we…

Do Lenders Still Monitor When They Can Securitize Loans?

We examine how securitization markets affect the role of banks as monitors in corporate lending. We find that banks active in securitization impose looser covenants on borrowers at origination. After origination, these borrowers take on substantially more risk than do borrowers of non-securitization-active banks. We use borrowers' geographic locations to instrument for borrower-lender matching …

The Swaption Cube

We infer conditional swap rate moments model independently from swaption cubes. Conditional volatility and skewness exhibit systematic variation across swap maturities and option expiries (conditional kurtosis less so), with conditional skewness sometimes changing sign. Conditional skewness displays some relation to the level and volatility of swap rates but is most consistently related to the …

High-Frequency Trading and Price Discovery

We examine the role of high-frequency traders (HFTs) in price discovery and price efficiency. Overall HFTs facilitate price efficiency by trading in the direction of permanent price changes and in the opposite direction of transitory pricing errors, both on average and on the highest volatility days. This is done through their liquidity demanding orders. In contrast, HFTs' liquidity supplying o…

Relationship marketing : perspectives, dimensions and contexts

Relationship Marketing [is] a long-term approach that nurtures customers, employees and business partners.⬠(Masterson and Pickton: Marketing) Identified in the 1980â¬"s, there were some groundbreaking texts in the 1990â¬"s and this text now seeks to draw on the existing literature to present a modern view of Relationship Marketing.Structured in three sections, Perspectives, Dimensions a…

Winning the global talent showdown : how business & communities can partner t…

Edisi

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ISBN/ISSN

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Deskripsi Fisik

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Judul Seri

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No. Panggil

Tan 331. 120 42 Gor w

The Entrepreneur: the twenty-one golden rules for the global business manager

Edisi

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ISBN/ISSN

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Deskripsi Fisik

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TAN 658.049 Hei e

Islamic branding and marketing : creating a global islamic business

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ISBN/ISSN

9780470825396

Deskripsi Fisik

xvi, 324 p. : ill. ; 24 cm.

Judul Seri

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No. Panggil

Tan 658. 827 Tem i

Ekonomi Indonesia dalam beberapa skenario kondisi global

Ada tabel

Culture and management in Japan

Includes indexes and tables

Culture the anthropological perspective

.Tabel and index

The Three worlds : culture and world development

Includes bibliography, index and tables

The Logic of Japanese enterprise

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The Legal and regulatory aspects of Islamic banking : a comparative look at t…

Includes bibliographies and index

The Variety of Maturities Offered by Firms and Institutional Investment in Co…

We study how a firm's decision to offer bonds of various maturities affects the portfolio allocations of institutional investors. We argue that because of lower information-collection costs, institutional investors tilt their portfolios towards firms that offer bonds of various maturities. We show that this translates into lower bond yields, both in the primary and in the secondary bond markets. .

Frog in the Pan: Continuous Information and Momentum

We test a frog-in-the-pan (FIP) hypothesis that predicts investors are inattentive to information arriving continuously in small amounts. Intuitively, we hypothesize that a series of frequent gradual changes attracts less attention than infrequent dramatic changes. Consistent with the FIP hypothesis, we find that continuous information induces strong persistent return continuation that does not…

Misspecification-Robust Inference in Linear Asset Pricing Models with Irrelev…

We show that in misspecified models with useless factors (for example, factors that are independent of the returns on the test assets), the standard inference procedures tend to erroneously conclude, with high probability, that these irrelevant factors are priced and the restrictions of the model hold. Our proposed model selection procedure, which is robust to useless factors and potential mode…

Microprudential Regulation in a Dynamic Model of Banking

This paper studies the quantitative impact of microprudential bank regulations on bank lending and value metrics of efficiency and welfare in a dynamic model of banks that are financed by debt and equity, undertake maturity transformation, are exposed to credit and liquidity risks, and face financing frictions. We show that: (a) there exists an inverted U?shaped relationship between bank lendin…

Risk Choice under High-Water Marks

I solve in closed form for the optimal dynamic risk choice of a fund manager who is compensated with a high-water mark contract. The optimal risk choice depends on the ratio of the fund's assets under management to its high-water mark. If the manager's outside option value is low, investors' termination policy is strict, or management fees are high, then negative returns induce the manager into…