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Investors’ information acquisition and the manager’s value-risk tradeoff
This paper studies a model in which investors’ information acquisition and the manager’s investment choice (hence the moments of the firm’s cash...
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An Integer Optimization Approach for Determining Building Height
Building height is of crucial importance in architectural design. In this paper, we provide an integer optimization model to determine the number of...
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The Water Credit Risk Tool and Corporate Sensitivity to the Shadow Price of Water
Due to the rising demand for water and conflicting interests among stakeholders, the price of water will increase in the future. Higher costs and...
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Duration gap with multiple liabilities for nonparallel shifts
An important problem in finance is how to invest a portfolio of bonds in order to fund an exogenous stream of multiple liabilities. We prove that...
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The market value of SMEs: a comparative study between private and listed firms in alternative stock markets
This study aims to compare the market value of private firms and publicly listed small and medium-sized firms (SMEs) in alternative stock markets...
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Cash Conversion Cycle and Corporate Performance: Global Evidence
Previous studies have seldom explored issues regarding liquidity management; hence, we conduct a global empirical analysis of the relationship...
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Firms cash management, adjustment cost and its impact on firms’ speed of adjustment: a cross country analysis
We investigate the firms’ specific attributes that determine the difference in speed of adjustment (SOA) towards the cash holdings target in the...
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Government control and the value of cash: evidence from listed firms in China
In this paper, we investigate the impact of government control on investors’ valuation of cash held by listed firms in China. We find strong and...
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Bi-objective Optimization for Resource-constrained Robust Construction Project Scheduling
Construction projects are often executed in complex environments, and various uncertain factors (e.g., bad weather, machine breakdown) prolong...
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Are directors with foreign experience better monitors? Evidence from investment efficiency
Using Chinese listed firms from 2008 to 2018, we find that directors with foreign experience alleviate both overinvestment and underinvestment, hence...
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Retail pricing, cashback and refund decisions in a supply chain with e-shop and direct channels
In this research, we are trying to design a model using incentive policies in a supply chain in which a store can sell either directly or through...
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Consideration of Uncertainties in Business Valuations
Valuation seems to be impossible since the future is uncertain. Nevertheless, company values are necessary for many reasons, so the question arises...
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The Impacts of Policy Uncertainty on Asset Prices: Evidence from China’s Market
We employ the "Two Sessions," comprising the National People’s Congress and the Chinese People’s Political Consultative Conference, as a proxy for...
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Techno-economic analysis of production of octane booster components derived from lignin
In this study, a comprehensive process for production of an environmentally friendly octane booster (acetophenone) from lignin is presented, along...
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Nature of Property Right, Free Cash Flow and Goodwill of M&A
Chinese economy is shifting from a stage of rapid growth to a stage of high-quality development. M&A has become an important method to achieve...
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Optimal Timing of Business Conversion for Solvency Improvement
In this paper, we study the optimal timing to convert the risk of business for an insurance company in order to improve its solvency. The cash flow...
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Banknote Life in India: A Survival Analysis Approach
India’s currency-to-GDP ratio indicates a strong and persistent demand for cash. Despite the withdrawal of two high-value banknotes in 2016 and the...
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Cost of Capital
The Cost of Capital plays a key role in the firm’s valuation based on the discounted cash-flow models.
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Dividend Discount Model
Equity analysis is carried out by means of fundamental and/or technical analysis. Fundamental analysis examines the factors influencing the share...
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Are Companies Offloading Risk onto Employees in Times of Uncertainty? Insights from Corporate Pension Plans
We investigate how firms adjust corporate pension plans in response to economic policy uncertainty (EPU). Using a sample of US-listed firms, we find...