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Full-Text Articles in Economics
Two Essays On The Microstructure Of The Housing Market: Agents' Diffused Effort And Sellers' Behavior Bias, Zhaohui Li
Two Essays On The Microstructure Of The Housing Market: Agents' Diffused Effort And Sellers' Behavior Bias, Zhaohui Li
Theses and Dissertations in Business Administration
For the first essay, we generalize the classic Williams [1998 RFS] brokerage model by introducing the diffused effort. That is, the agent can cross-utilize effort spending on one listing to another one. Besides, the agent can manage heterogeneous housing assets. One counterintuitive finding in Williams’ paper is the absence of the agency problem. As a special case in our model, we recover the agency problem. We examine the positive externality due to the diffused effort and show that it depends on the agent’s inventory size. Hence there exists a trade-off between agents’ effort spending on existing listings and on finding …
What Is Influencing Financially-Driven Shareholder Activism In The Us And Uk—Principal-Agent Or Principal-Principal Problems?, Maureen I. Muller-Kahle
What Is Influencing Financially-Driven Shareholder Activism In The Us And Uk—Principal-Agent Or Principal-Principal Problems?, Maureen I. Muller-Kahle
Theses and Dissertations in Business Administration
Shareholder activism is a response to corporate underperformance by one or more shareholders of the corporation. Classic agency theory suggests that shareholder activism is a mechanism to curb principal-agent problems in the firm. However, the principal-principal perspective suggests that shareholder activism is a mechanism for dominant shareholders to extract resources from the firm. This dissertation extends the current research by developing and testing competing hypotheses to examine the antecedents of financially driven shareholder activism in the United States and the United Kingdom. The extant literature on financially driven shareholder activism (FDSA) is reviewed, research gaps in the literature identified and …