In this paper, I compare the results from a laboratory experiment, in which individuals could allocate their funds between a risky asset and a risk-free zero return fund, with stochastic dynamic optimization policies based on expected utility maximization. Specifically, I focus on the predictions based on a negative exponential and concave quadratic utility. In addition, I look at the applicabi...

This study sets out to bridge resource perspective on material selection with stakeholder and institutional theory considerations provide a more comprehensive understanding of life-cycle thinking decisions in the automotive industry. The objective is shed light how regulatory, normative mimetic pressures, affect sustainability when switching or substituting materials manufacturing processes Wit...

Building on the standard firm dynamics setup of Hopenhayn (1992), we develop a quantitative theory of aggregate fluctuations arising from idiosyncratic shocks to firm level productivity. This allows us to generalize the theoretical results in Gabaix (2011) to account for persistent micro-level shocks, optimal size decisions as well as endogenous firm entry and exit. We then use our model to pro...

Working capital management is an essential part of the short-term finance of a firm. With an efficient working capital management, a firm can release capital for more strategic objectives, reduce the financial costs, and improve profitability. The present research studies the relationship of working capital management on performance of firms Listed in Tehran Stock Exchange (TSE). Average Collec...

This paper proposes that the lack of a theoretical framework able to address policy issues on the firm as well as the industry level in an integrated manner contributes to a failure of developing effective e-commerce policies. Specifically, theoretical approaches fall into the two broad categories of market and organization theory with a gaping chasm in between. We elaborate on our proposition ...

This paper examines dividend reduction timing at the industry level, asking what firm types choose to reduce their dividends earlier in a dividend reducing cycle than others. Theory is proposed that suggests that higher quality firms will reduce dividends sooner to start rebuilding the firm‟s profitability, while lower quality firms delay reducing their dividends until they must. This paper con...