A stock loan is a security-based lending arrangement in which the owner of a stock obtains a loan using it as collateral; such an arrangement resembles an American calloption with time-dependent strike price. In this paper, I study valuation of a stock loan in a setting in which the underlying stock is subject to bankruptcy. Bankruptcy risk is introduced using both the structural and
Dr. Subhra K Bhattacharya, Iowa State University
We examined the strategic implications of top management team (TMT) composition of dispositional optimism, the relatively stable tendency to hold positive expectancies about the future. Using a sample of 463 TMT members from 119 firms, we tested the relationships of mean, diversity, and minimum optimism with competitive action speed and complexity and firm performance. We found that
Sucheta Nadkarni is the Bill Avery Associate Professor of management at Drexel University. She completed her PHD from the University of Kansas in 2001. She served as an Assistant and Associate Professor of management at the University of Nebraska-Lincoln before joining Drexel University. Sucheta's research interests are in the areas of strategic cognition, executive
We examine the link between a board governance index capturing the quality of a firm's board structure and composition, as recommended by the UK Code of Corporate Governance, and corporate performance for a panel of UK listed firms over 2000-2009. We find a strong positive relationship between this index and a firm's subsequent total shareholder return, controlling for other firm,
Dr Grzegorz Trojanowski is a Associate Professor in Finance at the Xfi Centre for Finance and Investment. He joined the University of Exeter Business School after completing his PhD in Business (Finance) at Tilburg University in 2004. His academic interests cover areas of corporate finance, corporate governance, gender studies, and the economics of transition. His research
In this paper, we model welfare implications of entry of commercial microfinance institutions (MFIs). We initially characterize equilibrium with a sole fund-constrained benevolent credit institution followed by equilibrium with only profit-motivated MFIs. We show that entry of such MFIs can lead to an increase in interest and default and a decline in screening. However, it can still
Dr. Pingali is an assistant professor at IFMR Business School, Chennai. His research includes topics like competition and pricing strategy. Some of his recent work includes modeling competition in the micro-finance industry both from theoretical and empirical perspective. At IFMR he teaches courses in financial econometrics, consumer behavior and regulatory economics. He
Imagine that you're presented with the following the challenge:
Design a web site for one tenth of the world's population
Capture more than $6 billion of revenue per year
Release new functionality for phones, tablets, and computers on 3-week product cycles
Build on legacy systems deployed over the last 15 years
Let's say
David Chaiken, Chief Architect, Yahoo! Inc., has been hacking since his parents sat him down in front of an IBM card punch more than 40 years ago. He has been a Tech Yahoo for four years, working on consumer, advertising, and platform products. Over his career, Chaiken has built voice search products for consumers, mobile enterprise applications, network management
In four studies, this paper examines implicit voice theories-taken-for-granted beliefs about when and why speaking up at work is risky or inappropriate. In Study 1, interview data from a large corporation suggest that fine-grained implicit theories underlie reluctance to voice even pro-organizational suggestions. Study 2 survey data address the generalizability of the implicit
Professor Detert's research focuses primarily on three topics: 1) the antecedents, processes, and outcomes of improvement-oriented voice from subordinates to authorities in work organizations; 2) leadership processes, behaviors, and outcomes; and 3) ethical decision making and behavior, particularly that driven by moral intuition and subtle cognitive heuristics and
This study focuses on the impact of the California Non-Profit Integrity Act (2004) (hereafter, the Act or regulation) on executive compensation in affected non-profit organizations in California. The Act, closely modelled after the Sarbanes-Oxley Act (SOX) of 2002, requires charitable organizations in California reporting to the Attorney General's office to compulsorily form an
Sandip Dhole is an Assistant Professor of Accounting at the Indian School of Business. His research interests include accounting conservatism, voluntary disclosure, earnings management, and executive compensation.
Professor Dhole holds a PhD in Accounting from the C T Bauer College of Business, University of Houston. He also has an Advanced Diploma in Management
Rational decision-making is often modeled as choosing the alternative that maximizes utility for the decision maker. Over the last few decades, much evidence has been produced to demonstrate that human decision-making is subject to irrationalities, such as intransitivity and framing biases. I seek an explanation for how these irrationalities arise, specifically, how they relate to
B. Chandrasekaran is Professor Emeritus, Senior Research Scientist and Director of the Laboratory for AI Research in the Department of Computer & Information Science at Ohio State University. His major research activities have been in knowledge-based reasoning (especially causal understanding as applied to design and diagnosis), image-based reasoning, architecture of
By virtue of their participation in multiple competitive settings, MNEs confront competitors with different attributes, and in different locations variations that pose different competitive challenges. We classify MNE competitors by their nationality, geographic scope and location, and maintain that the value of MNE assets and the intensity of the competition vary in relation to
Lilach Nachum is a Professor of International Business and Management at Baruch College, City University New York. Her recent research interests include the strategic management of MNEs, specifically location strategy and the impact of technology on value-creating activities across distance. Her work in these areas has been published in the Journal of International
This paper modeled the dynamic inter-relationships between average salary, bonus, and stock options granted to top five executives of 700 U.S. firms in the period 1996-2005 using a merged ExecuComp and Compustat database. Comprehensive models were estimated for firms' share repurchases and research and development and investment expenditures, taking into account simultaneity issues.
Alok Bhargava is a Professor in Economics and University of Houston. He studied mathematics at Delhi University and economics and econometrics at the London School of Economics.
Bhargava received his Ph.D. in econometrics from the London School of Economics under the supervision of John Denis Sargan in 1982. His thesis (The Theory of