Previous research has argued that debt financing affects equityholders’ investment decisions, producing substantial inefficiency. This paper shows that the size of this inefficiency depends on the degree of investment reversibility. In a dynamic model of financing and investment, the paper provides an upper bound for the inefficiency produced by debt financing. The upper bound is decreasing in ...

In recent years, software development outsourcing has become even more complex. Outsourcing partner have begun‘re-outsourcing’ components of their projects to other outsourcing companies to minimize cost and gain efficiencies, creating a multi-level hierarchy of outsourcing. This research in progress paper presents preliminary findings of a study designed to understand knowledge transfer effect...

This paper applies two alternative methods of estimation, viz., fully modified OLS (FMOLS) and generalized method of moments (GMM), to analyse the determinants of the capital structure of Indian firms using a panel of 1169 non-financial firms listed in either the Bombay Stock Exchange or the National Stock Exchange over the period 1995–2008. The results thus obtained are robust across the estim...

The social contract has been about rights and responsibilities in human societies. Facebook and its role in manufacturing and sustaining a global social contract, a new “we” is clearly one of the research areas that needs more attention. A new “we” is coming of age in the new age of connectivity and communication with a new outlook toward responsibility and rights at individual and collective l...

In the modern advertising agency selection contest, each participating agency specifies not only its proposed creative campaign but also the budget required to purchase the agreed-on media. The advertiser selects the agency that offers the best combination of creative quality and media cost, similar to conducting a score auction. To participate in the contest, each agency needs to incur an up-f...

background as the under-representation of women in management positions continues to persist globally, little is known about the experiences of women in the healthcare sector in the context of the developing middle eastern nations. in an attempt to address this knowledge gap, the current study explores some of the barriers that hinder and the enablers that foster women’s career advancement in t...

�Abstract��The optimization of shareholder wealth based on the theory firm and agency through investment, funding dividend decisions has various empirical supports. This model is interesting to be examined in Indonesian companies. The study aims examine for case Indonesia with a sample 18 companies listed IDX which are members LQ-45 index 2016-2019 period were selected by purposive sampling. re...