Abstract The aim of the article is to build-up a simplified model effect atmospheric plasma spraying process parameters on deposits’ functional properties. artificial neural networks were employed elaborate and Matlab software was used. crucial study relationship between parameters, such as stand-off distance torch velocity, properties Al 2 O 3 -13 wt% TiO ceramic coatings. During this study, c...

Firm-level, revenue-based productivity measures are ubiquitous in studies of firm dynamics and aggregate outcomes. One common measure is increasingly interpreted as reflecting “distortions” since distortions’ absence, equalization marginal revenue products should yield no dispersion this measure. Another but distinct the residual firm-level function, which reflects “fundamentals.” Using micro-l...

Abstract We measure U.S. listed companies’ skilled labor risk—that is, the potential failure in attracting and retaining labor, by intensity of discussions on this issue 10-K filings. show that effectively captures firm risk due to mobility labor. find an increase from 25th 75th percentile would wage 22% (or $15,593) also lead higher equity-based incentive pay. The interacts with other corporat...

Prior research shows that corporate innovation enhances firm value. Using a novel text-based measure of innovation, we explore how the effects on performance change in presence economic policy uncertainty. We use large sample US firms over period 1996 to 2010 test relationship by executing firm-fixed effect regressions. Our results show significantly positively affects performance. However, our...

ABSTRACT We study the optimal information system in a debt contracting setting which managers can engage value destroying risk-shifting behavior. The issues early-warning signals that allow lenders to take corrective actions such as liquidating unprofitable projects. When are empire builders, exhibits conservative bias leads excessive and project liquidations relative first best. In contrast, w...

Acquirer cumulative abnormal returns (CARs) have been investigated intensively for more than three decades. CARs measure shareholders’ wealth changes conditional upon a deal announcement. The unconditional acquirer shareholders’ expected profit is, however, the product of the acquirer’s CAR and the probability of making the acquisition. This probability element has been mostly overlooked in the...

We show that sovereign debt impairments can have a significant impact on financial markets and real economies through a credit ratings channel. Specifically, we find that firms reduce their investment and reliance on credit markets due to a rising cost of debt capital following a sovereign rating downgrade. We identify these effects by exploiting exogenous variation on corporate ratings due to ...