Recent research has documented empirical evidence of informed trading ahead of major corporate events such as earnings announcements, mergers and acquisitions and corporate bankruptcies. However, no such evidence exists ahead of corporate spinoffs (SP). Using a sample of 426 corporate SPs from 1996 to 2013, we document pervasive activity in options of the parent company, but not in stocks, that...

The world implementation of Interactive Digital Television (iDTV) has led to the emergence of technologies that offer the concept of new business models. There aren’t currently any private/public repositories for an imminent market of software components for Digital Television industry, or any techniques providing registration and discovery of services at runtime. This paper presents a standard...

This paper deals with the impact of micro and macro environment components on trade companies in Romania. Trade companies organize and operate under specific environmental conditions impact or both. In the activity of any companies the environment plays a key role in defining its strategies in seizing and using opportunities of development, being practically the support in achieving the objecti...

Backdating occurs when a company retroactively changes option grant dates to dates when its stock was trading at a relatively low price. Firm announcements of backdating have lead to adverse publicity from the media and negative pronouncements from academics regarding the economic effects and motivation of those involved. This research finds that backdating signals to the capital markets that t...

This paper offers an alternative explanation for what is typically referred to as an asset pricing bubble. We develop a model that formalizes the Cochrane (2002) convenience yield theory of technology company stocks to explain why a rational agent would buy an “overpriced” security. Agents have a desire to trade but short-sale restrictions and other frictions limit their trading strategies and ...

This study analyzes an inventory control problem of a company in stochastic demand environment under carbon emissions regulations. In particular, a continuous review inventory model with multiple suppliers is investigated under carbon taxing and carbon trading regulations. We analyze and compare the optimal (Q,R) policies with order splitting under two ordering policies: sequential ordering and...

As e-business grows rapidly, interests in design principles for e-business web sites are increasing. A few studies have suggested design principles with concrete design features, but failed to link the features to the performance of an e-business site, such as attitudes of its customers or financial performance of the e-business company. This paper proposes a comprehensive framework that covers...

The successful integration of data from autonomous and heterogeneous systems calls for the resolution of semantic conflicts that may be present. Such conflicts are often reflected by discrepancies in attribute values of the same data object. In this paper, we describe a recently developed prototype system, DIRECT (DIscovering and REconciling ConflicTs). The system mines data value conversion ru...

Practitioners and researchers alike increasingly use social media messages as an additional source of information to analyse stock price movements. In this regard, previous preliminary findings demonstrate the incremental value of considering the multi-dimensional structure of human emotions in sentiment analysis instead of the predominant assessment of the binary positive-negative valence of e...

In the context in which spare parts trading companies are becoming increasingly competitive, level of service is essential to be able compete market. This indicator affected by on-time deliveries, a key factor meeting customer demand, as this determines satisfaction and thus has an effect on company's profitability. For company deliver its products time, warehouse processes must work efficientl...