This paper characterizes the optimal dynamic contract between risk-averse entrepreneurs and risk-neutral investors in an infinite horizon setting with information asymmetry. Under certain conditions, the optimal contract can be implemented with the entrepreneur’s ownership of some of the firm’s shares (insider ownership). This ownership evolves over time and tends to decrease as the entrepreneu...

This study examines the relationship between board and ownership structures and firm performance in an environment of severe political and economic crisis. Using panel data from the Zimbabwe Stock Exchange (ZSE) for the period 2000-2005, we split the period into prepresidential election period (2000-2002) (a relatively stable political and economic period) and post-presidential election period ...

Oxytocin is a hormone of the posterior pituitary that promotes lactation, maternal bonding, and birth. Recent studies have shown that oxytocin may modulate social recognition in both sexes, and thus it may be related to empathy. Brain regions that are associated with social recognition and empathy (e.g., the insular cortex) are activated in the rubber hand illusion (RHI), which involves illusor...

paper studies the impact of the liquidity, underpricing and ownership up on both the short term and long term performance of the initial public offer (ipo) stocks in the equity markets of india. empirical analysis is undertaken to study the impact of liquidity, underpricing and ownership on performance of ipo stocks. multiple regression analysis is undertaken for analyzing the impact. it is fou...

This paper provides evidence that management in Japan uses share repurchases to change the ownership of their companies to protect them against unfriendly changes in control by outside shareholders. The paper documents the time series of stock repurchases made by Japanese companies over the period 2001-2014. We find that almost half of listed companies engage in share repurchases, and almost on...

According to the National Highway Traffic Safety Administration's (NHTSA) 2001 data, while total traffic deaths in the United States increased by four tenths of a percent (+0.4%) from previous year, motorcycle deaths were up by 10 percent. Motorcyclist fatalities increased for the fourth year in a row since reaching a historic low of 2,116 fatalities in 1997. In 2001, 3,181 motorcyclists were k...

Holmgren, L. 2006. Forest Ownership and Taxation in a Swedish Boreal Municipality Context. Doctor’s dissertation. ISSN 1652-6880, ISBN 91-576-7098-6 Forest ownership and changes in the forestry sector have played an important role for development in northern inland Sweden and remain vital for a sustainable development. Examining forest business activity and the Swedish tax system this thesis ai...

TIC.8 article deecribes the trend8 C the finanoial position of nongovernmental oammunity hospitals im the period 1961-n and Cdentifies where po8eZble the important causes of lzet income variation during the period, both overall and between hoepitala of d4fferent size and ownership. Variatdons Cn net income by bed size of hospital were alao studied for 1971 in a% attempt to ehed ad&tional light ...

We analyze the effects of different types and concentration of ownership on performance using a population of firms in a model transition economy (Czech Republic) after mass privatization. Specifications based on first-differences combined with instrumental variables show that contrary to conventional wisdom, the effects of different types of ownership and ownership changes are limited. Concent...