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Articles 1 - 7 of 7
Full-Text Articles in Industrial Organization
Leaving California: The Price Impact Of Announcing A Headquarters Relocation, Marilyn Giselle Hazlett
Leaving California: The Price Impact Of Announcing A Headquarters Relocation, Marilyn Giselle Hazlett
Behavioral and Computational Economics (MS) Theses
Over the past decade, people and companies have left California for myriad reasons. This paper examines the effect of announcing a headquarters relocation on a firm's stock price. Using traditional event study methodology, I analyze over 400 move announcements from 2004-2024 to find a positive abnormal return in the short run when firms announce that they are moving their headquarters. There is a pronounced impact on stock prices for firms leaving California and moving to Texas.
Air Pollution Differences Between Nations With Different Economic Profiles, Alliyah Sato
Air Pollution Differences Between Nations With Different Economic Profiles, Alliyah Sato
Student Scholar Symposium Abstracts and Posters
The economics of a country plays an important role in determining what that country considers as its priorities. A developed country, such as the U.S., is powerful economically. As a result, it has the resources and tools to focus on other aspects of the nation. One of these features is the environment. Countries undergoing urbanization and industrial development processes, such as China, are emitting large amounts of pollutants into the atmosphere. Although it has adverse health and ecological effects, China has shown very little reduction of its emissions from 2000-2014. It relies heavily on coal burning as a source of …
The Nonlinear Price Fynamics Of Us Equity Etfs, Gunduz Caginalp, Mark Desantis, Akin Sayrak
The Nonlinear Price Fynamics Of Us Equity Etfs, Gunduz Caginalp, Mark Desantis, Akin Sayrak
Economics Faculty Articles and Research
We investigate the price dynamics of large market-capitalization U.S. equity exchange-traded funds (ETFs) in order to uncover trader motivations and strategy. We show that prices of highly liquid ETFs can deviate significantly from their daily net asset values. By adjusting for changes in valuations, we report the impact of non-classical variables including price trend and volatility using data from 2008 to 2011. We find a cubic nonlinearity in the trend suggesting that traders are not only aware of the underreaction of others, but also self-optimize by anticipating others' reactions, and sell when the uptrend is stronger than usual.
The Alliance Formation Puzzle And Capacity Constraints, Kai A. Konrad, Dan Kovenock
The Alliance Formation Puzzle And Capacity Constraints, Kai A. Konrad, Dan Kovenock
Economics Faculty Articles and Research
The formation of an alliance in conflict situations is known to suffer from a collective action problem and from the potential of internal conflict. We show that budget constraints of an intermediate size can overcome this strong disadvantage and explain the formation of alliances.
New Social Movements And The Struggle For Worker’S Rights In The Maquila Industry, Victoria Carty
New Social Movements And The Struggle For Worker’S Rights In The Maquila Industry, Victoria Carty
Sociology Faculty Articles and Research
"Campaigns to improve worker’s rights in export processing zones (EPZs), also referred to the maquila industry in Latin America, is an important topic analytically and politically. On theoretical and practical levels, the co-existence of market economies with effective means to ensure adequate working conditions for workers is a critical question. Underlying the issue is a vigorous debate regarding how the global economy should be governed; who or what should govern it, and whose interest is should serve (Faux, 2002)."
Capital Structure And Product-Market Rivalry: How Do We Reconcile Theory And Evidence?, Dan Kovenock, Gordon Phillips
Capital Structure And Product-Market Rivalry: How Do We Reconcile Theory And Evidence?, Dan Kovenock, Gordon Phillips
Economics Faculty Articles and Research
This paper presents empirical evidence on the interaction of capital structure decisions and product market behavior. We examine when firms recapitalize and increase the proportion of debt in their capital structure. The evidence in this paper shows that firms with low productivity plants in highly concentrated industries are more likely to recapitalize and increase debt financing. This finding suggests that debt plays a role in highly concentrated industries where agency costs are not significantly reduced by product market competition. Following the empirical evidence we introduce the "strategic investment" effects of debt and argue that this effect, in conjunction with agency …
Price Determination In A Competitive Industry With Costly Information And A Production Lag, Reuven Glick, Clas Wihlborg
Price Determination In A Competitive Industry With Costly Information And A Production Lag, Reuven Glick, Clas Wihlborg
Business Faculty Articles and Research
We analyze the role of information for price and output adjustment when competitive firms with rational expectations cannot directly distinguish between industrywide and firm-specific cost disturbances. Firms may become informed about industrywide cost conditions by acquiring information at a cost. The sensitivity of price and output to cost disturbances decreases as more firms choose to purchase information. The equilibrium industry share of informed firms increases as the cost of information falls and total cost variability increases. The equilibrium share of informed firms is largest when there is a comparable degree of variability in both industrywide and firm-specific costs.