By employing leverage to gain more exposure to stocks when young, individuals can achieve better diversification across time. Using stock data going back to 1871, we show that buying stock on margin when young combined with more conservative investments when older stochastically dominates standard investment strategies—both traditional life-cycle investments and 100%-stock investments. The expe...

This article tests whether parents reinforce or compensate for child endowments. We estimate how the difference in birth weight across siblings impacts specific parental investments: breast-feeding, well-baby visits, immunizations, and preschool attendance. Our results indicate that normal-birthweight children are 5%-11% more likely to receive early childhood parental investments than their low...

INTRODUCTION Worldwide B2B e-commerce revenues are expected to reach $2.7 trillion by the end of 2004. At the center of this dramatic growth are interorganizational information systems (IOS), which are information systems (IS) that facilitate the exchange of products, services and information between firms. Examples of IOS include EDI systems in a supply chain, B2B electronic marketplaces, and ...

Implementation and maintenance of interorganizational systems (IOS) require investments by all the participating firms. Compared with intraorganizational systems, however, there are additional uncertainties and risks. This is because the benefits of IOS investment depend not only on a firm’s own decisions, but also on those of its business partners. Without appropriate levels of investment by a...

Decisions of health care institutions to invest in nursing care are often guided by mixed and conflicting evidence of effects of the investments on organizational function and sustainability. This paper uses new evidence generated through Interdisciplinary Nursing Quality Research Initiative (INQRI)-funded research and published in peer-reviewed journals, to illustrate where the business case f...

comments on related versions. Abstract We provide a general model for comparing stepwise and lumpy investments, considering stage specific volatilities, drifts and possibility of project failure. Stepwise investments allow for interim project value realizations, instead of considering only a final project value as in sequential investments. We conceive of an environment in which stepwise invest...

We examine the externality effects of R&D investments. We find that firms’ future operating performance is positively related to industry peers’ (all peer firms, or R&D leaders in the industry) R&D expenditures. Firms also tend to experience positive abnormal returns following industry peers’ high R&D expenditures. This suggests that the market not only under react to a firm’s own R&D investmen...

Government growth has been a long-standing research issue among public economists as well as an important concern of the general public. This paper investigates the impact of government IT investments on government growth. Drawing on the literature on public economics, political sciences, and IT value, I offer theoretical discussions and four mechanisms as to the relationship between IT investm...

The theme of this paper is the occurrence of risks within information technology and information systems investments. A taxonomy of the published classification frameworks of IT related risk is presented and a new comprehensive classification framework for IT investments (the TOPModel) is presented within the TRIP model of the risk factors and critical factors affecting IT investments. Risk man...

This paper considers policies for promoting productive investments in the USA, especially as regards the project of building a clean energy economy. The four main policies examined are (i) expanding public investments throughout the economy and gaining the crowding-in benefits that will accrue from such investments, (ii) refocusing the successful but ad hoc, US model of industrial policies, (ii...