We study investment cycles and information flows in a model of social learning in which investment returns fluctuate according to a Markov process. In our Waiting Game, agents observe the investment history and a private signal correlated with the current period’s investment return. Agents then decide whether to invest in round 1 or to delay their decision to round 2 of the current period. Casc...

With the continued growth in demand for mineral resources and China's efforts in increasing investment in geological prospecting, fiscal investment in geological exploration becomes a research hotspot. This paper examines the yearly relationship among fiscal investment in geological exploration of the current term, that of the last term and prices of mining rights over the period 1999-2009. Hin...

Numerous research have been discovered to developed internationalization process model (investment to other country market). Like Johanson and Vahlne, they are among the first to discuss the internationalization process model. There are four key items underlying Johanson and Vahlne’s model, those are market knowledge, market commitment, commitment decision, and current activities. However, many...

Objective –This study intends to examine the relationship between investment efficiency and financial information excellence. The study is also examining the moderating impact of sustainability on the relation between excellence in financial information and investment productivity. Methodology –The cumulative measurements are 668 firm-years and are made up of 257 subsamples of underinvestment a...

In this paper, we demonstrate the advantage of the use of broad-based stock option plans over cash compensation when the …rm needs to …nance both current and future investment in an environment where external …nance is costly. Intuitively, the company obtains funds for investment in the current period by cutting …xed wages through the issuance of stock options. The company receives additional f...

BEA is studying proposals to change the treatment of insurance services in the national accounts. There are 5 proposed changes: investment income will be added as a supplement to the premiums paid by policyholders; investment income is to include interest, dividends and capital gains; a measure of expected investment income will be incorporated; a measure of expected claims will be incorporated...