BACKGROUND Managerial knowledge and skills as well as profound understanding of goals and objectives of management determine the effectiveness and efficiency in all areas of managerial activities. In particular, this applies to the quality of healthcare services, perceived as a compliance between the effects (of medical treatment) and the assumed relevant objectives (defined/desired health cond...

This paper highlights a tension between semiparametric efficiency and bootstrap consistency in the context of canonical estimation problem, namely problem estimating average density. It is shown that although simple plug-in estimators suffer from bias problems preventing them achieving under minimal smoothness conditions, nonparametric automatically corrects for this that, as result, these seem...

This study investigates empirically the value investors place in excess cash holdingand how managerial ability impact on the value of cash holding for Iranianfirms from 2006 to 2014. In this research, managerial ability calculated by usingthe data envelopment analysis (DEA). Following the approach of Faulkender andWang, we find that the relation between managerial ability and value of cash hold...

The Solow condition is examined in an intertemporal model that blends the shirking and the turnover models of efficiency wages with managerial supervision. It is shown that the Solow condition does not hold when shirking and turnover costs are considered. The Solow condition can be a possible outcome when managerial productivity offsets shirking and turnover costs. JEL Classification: J50, J41,...

An efficient managerial labor market should compensate executives according to their contribution to shareholder value. We provide novel empirical evidence about the relationship between executive pay and managerial contribution to value by exploiting the exogenous variation resulting from stock price reactions to sudden deaths. We find, first, that the managerial labor market is characterized ...

Abstract The paper provides a positive and efficiency analysis of dividend taxation in corporate agency model with costly managerial effort. Unlike existing (agency) models, this is consistent empirical work finance able to predict empirically-observed investment responses taxation. In addition, we show that changes are not sufficient infer, first, the cost and, second, financing regime underly...

Knowledge of Production technology and information communication technology covers many aspects of the knowledge process in firm. Digital Manufacturing is one of the core strategies of the European Manufacture vision and strategic agenda towards the knowledge based production. It is driven by the application and standardization of information and communication technologies and the increasing de...