Author: Yongxiang WangPublisher:
ISBN:
Category : Corporations
Languages : en
Pages : 0
Book Description
Three Essays on Empirical Corporate Finance and Political Economy
Author: Yongxiang WangPublisher:
ISBN:
Category : Corporations
Languages : en
Pages : 0
Book Description
Three Essays on Empirical Corporate Finance and Political Economy
Author: Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Three essays on empirical corporate finance and political economy.
Three essays on empirical finance
Author: Tse-Chun LinPublisher: Rozenberg Publishers
ISBN: 9036101514
Category :
Languages : en
Pages : 146
Book Description
Essays in Financial Economics
Author: Haofei ZhangPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
This thesis consists of three essays on financial markets, product markets, information markets, and their interaction. Chapter 1 offers an introduction of the essays and summarizes the main findings. Chapter 2 studies how product markets shape managerial short-termism (myopia). It shows that under market competition, managerial short-termism may arise endogenously as a means for firms to commit to competing aggressively. Such managerial short-termism is facilitated by financial markets as firms tie their managers' pay to the short-term stock prices. The following two chapters focus on the interaction between financial markets and information markets; both chapters demonstrate that information markets are crucial in determining asset prices and market quality in financial markets. Chapter 3 develops an information-sales model in which investors acquire uncertain skills to interpret purchased data, thereby changing the behavior of data sellers. It leads to several novel results (e.g., price informativeness increases with skill-acquisition costs), which help clarify certain empirical regularities. Chapter 4 examines sales of financial market information in an economy with two information sellers. In equilibrium, the two sellers form either orthogonal or overlapping clientele, depending on the similarity of the information to be sold. When the two sellers' information is very distinct and the sellers have relatively large bargaining power in sharing trading profits, investors' information purchase behavior exhibits complementarity, leading to the possibility of multiple equilibria.
Three Essays in Financial Economics
Author: Harry Charles DeAngeloPublisher:
ISBN:
Category : Capital productivity
Languages : en
Pages : 204
Book Description
Three Essays in Applied Empirical Economics
Author: André EbnerThree Essays in Empirical Finance
Author: Micah S. AllredPublisher:
ISBN:
Category : Stocks
Languages : en
Pages : 214
Book Description
Author: Yuki Sakasai
Author: Jordy Rillaerts
Author: Biplab K. Ghosh