This paper analyzes the impact of terrorism hazard on performance private participation infrastructure projects. Applying transaction cost theory, we hypothesize that has a negative relationship with project completion, and host government accountability investor experience have opposing impacts this relationship. Host accountability, argue, produces higher indirect costs managing hazard, which...

Quality problems have long plagued the nursing home industry. While two-thirds of U.S. nursing homes are investor-owned, few studies have examined the impact of investor-ownership on the quality of care. The authors analyzed 1998 data from inspections of 13,693 nursing facilities representing virtually all U.S. nursing homes. They grouped deficiency citations issued by inspectors into three cat...

We study the portfolio selection problem of an investor who can optimally exert costly effort for more income. The possibility of generating more income, if necessary, increases the risk-taking appetite of the investor. We find the optimal allocation to the risky security as a proportion of financial wealth and as a proportion of the total wealth, defined as the combination of the financial wea...

Abstract In order to solve problems in investor and venture fund managers remuneration paid mechanism, the paper presents the asymmetric information games existing in construction mechanism through information economics viewpoints. The paper building investor and venture fund managers remuneration paid mechanism based on principalagent theory, remuneration excitement and risk constraints. The r...

We examine how a firm’s incentive to commit fraud when going public varies with investor beliefs about industry business conditions. Fraud propensity increases with the level of investor beliefs about industry prospects but decreases in the presence of extremely high beliefs. Evidence suggests that two mechanisms are at work: monitoring by investors, and short-term executive compensation, both ...

This paper is concerned with the Trade Policy Review Mechanism (TPRM), an important policy review function of the WTO. From a developing country perspective, a truly effective TPRM should accomplish several interrelated goals which together should add up to a boost to investor confidence in developing country markets. Several improvements that may move us closer to such a regime are discussed. ...

The purpose of this paper is to review the corporate governance structure Pakistan and identify challenges opportunities within context country. objective highlight gaps in existing frameworks. study provides an overview regulations underlines urgent need for research area. This identifies specific that can assist developing more stable practices regulations. It examines effectiveness regulator...

This research attempts to propose a new measure of investor psychological bias with big data crawled from the web. The author constructs the investor bias measure with web search data and investigate the influences of this new measure on crude oil futures prices. Using 225,250 data points from Google, this paper computes the investor bias, and evaluates it with trading volumes. The author estab...

We develop a model to illustrate that controlling shareholders choose the level of investor protection that maximizes their own interests. Controlling shareholders in companies with complicated control structures can easily extract private benefits and are thus reluctant to enhance investor protection which would necessitate increased transparency. In contrast, controlling shareholders in compa...

We consider an investor in a financial market consisting of a riskless bond and several risky assets. The price processes of the risky assets are geometric Brownian motions where either the drifts are modelled as random variables assuming a constant volatility matrix or the volatility matrix is considered random and drifts are assumed to be constant. The investor is only able to observe the ass...