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Articles 1 - 10 of 10
Full-Text Articles in Business
Economic Integration, Political Integration Or Both?, Daniel Brou, Michele Ruta
Economic Integration, Political Integration Or Both?, Daniel Brou, Michele Ruta
Daniel Brou
We study the effects of economic and political integration by presenting a model in which firms compete with each other in both an economic market—where they produce a good and compete for market share—and in a political (rent seeking) market—where they compete for transfers from the government. Growth is driven by firms’ cost-reducing innovation activity and economic and political integration affect firms’ incentive to innovate differently. In this setting, economic and political integration can be seen as complementary. Economic integration, when not accompanied by political integration, can lead to less innovation and slower growth as firms respond to increased competition …
Gfc: Origin, Consequence And Cost, Mohamed Ariff, Ahmed Khalid
Gfc: Origin, Consequence And Cost, Mohamed Ariff, Ahmed Khalid
Ahmed Khalid
No abstract provided.
Accounting Fraud At Cit Computer Leasing Group, Inc., Jeffrey Michelman
Accounting Fraud At Cit Computer Leasing Group, Inc., Jeffrey Michelman
Jeffrey E Michelman
The case chronicles a newly promoted manager's search to uncover an inventory fraud that had been perpetrated by her supervisor at CIT, a publicly held company. During the ensuing investigation, CIT and the Florida Department of Law Enforcement identified 36 different transactions involving the diversion of nearly 2,500 computers, with a conservative estimated total loss to the company of $637,000. Students are also exposed to the importance of internal controls, red flags, the fraud triangle, and forensic accounting techniques. The case also lets the reader see what occurs when, due to management override of internal control, a subordinate no longer …
The Cost Of Treating Addiction From The Client's Perspective: Results From A Multi-Modality Application Of The Client Datcap, Kathryn Mccollister, Michael French, Jeffrey Pyne, Brenda Booth, Richard Rapp, Carey Carr
The Cost Of Treating Addiction From The Client's Perspective: Results From A Multi-Modality Application Of The Client Datcap, Kathryn Mccollister, Michael French, Jeffrey Pyne, Brenda Booth, Richard Rapp, Carey Carr
Michael T. French
There is a considerable disparity between the number of individuals who need substance abuse treatment and the number who actually receive it. This is partly due to the fact that many individuals with substance use disorders do not perceive a need for formal treatment. Another contributing factor, however, is a discrepancy between the real and perceived cost of services. Although many cost evaluations of substance abuse treatment have been conducted from the treatment provider perspective, less is known about the client-specific costs of attending treatment (e.g., lost work and leisure time, transportation, out-of-pocket and in-kind payments). Concerns about financial and …
Scaling Up Microfinance, Chicago Microfinance 2011, Karen Ahmed
Scaling Up Microfinance, Chicago Microfinance 2011, Karen Ahmed
Karen Hunt Ahmed
No abstract provided.
Chicago Microfinance Conference 2011, Karen Ahmed
Chicago Microfinance Conference 2011, Karen Ahmed
Karen Hunt Ahmed
No abstract provided.
Are Ceos Expected Utility Maximizers?, John List, Charles Mason
Are Ceos Expected Utility Maximizers?, John List, Charles Mason
Charles F Mason
Are individuals expected utility maximizers? This question represents much more than academic curiosity. In a normative sense, at stake are the fundamental underpinnings of the bulk of the last half-century’s models of choice under uncertainty. From a positive perspective, the ubiquitous use of benefit-cost analysis across government agencies renders the expected utility maximization paradigm literally the only game in town. In this study, we advance the literature by exploring CEO’s preferences over small probability, high loss lotteries. Using undergraduate students as our experimental control group, we find that both our CEO and student subject pools exhibit frequent and large departures …
Economic Co-Optimization Of Enhanced Oil Recovery And Carbon Sequestration, Andrew Leach, Charles Mason, Klaas Van 'T Veld
Economic Co-Optimization Of Enhanced Oil Recovery And Carbon Sequestration, Andrew Leach, Charles Mason, Klaas Van 'T Veld
Charles F Mason
In this paper, we present an economic analysis of CO2-enhanced oil recovery (EOR). This technique entails injection of CO2 into mature oil fields in a manner that reduces the oil’s viscosity, thereby enhancing the rate of extraction. As part of this process, significant quantities of CO2 remain sequestered in the reservoir. If CO2 emissions are regulated, oil producers using EOR should therefore be able to earn revenues from sequestration as well as from oil production. We develop a theoretical framework that analyzes the dynamic co-optimization of oil extraction and CO2 sequestration, through the producer’s choice of the fraction of CO2 …
Firm Value And Investment Policy Around Stock For Stock Mergers, Adel Bino, Elisabeta Pana
Firm Value And Investment Policy Around Stock For Stock Mergers, Adel Bino, Elisabeta Pana
Elisabeta Pana
We study a sample of publicly traded firms that expand by acquiring other firms in pure, stock-for-stock mergers. After these mergers, we find that the diversification premium decreases for the acquiring firm due to having added a target firm trading at a discount. Furthermore, the acquiring firm experiences a decrease in investment opportunities and a decrease in leverage. This is an effect confined only to non-diversifying mergers. Our results indicate that the acquirer’s investment efficiency at the firm level remains unchanged after the merger.
Sheep And Their Herders: Testing The Myth Of Rational Voters – A Latvian Case Study, Daniel Brou, Kirk Collins, Brent Mckenzie
Sheep And Their Herders: Testing The Myth Of Rational Voters – A Latvian Case Study, Daniel Brou, Kirk Collins, Brent Mckenzie
Daniel Brou
Through the use of a simple behavioural political economy model, we cast doubt on the assumption that voters behave in predictable ways dependent on their expected support for government policies. We show that under certain conditions an unfavourable (i.e. welfare reducing) policy may result, even with well-informed, welfare maximising voters. While true that voter behaviour may align with government policies, this alignment has more to do with a perceived lack of influence, rather than policy support. The case of Latvia's accession to the European Union is used as a case study to evaluate the government's policy in terms of voting …