The Federal Communications Commission has regulated ownership of mass media outlets since the 1920s. The Telecommunications Act of 1996 abolished some of these regulations, changed others, and required the FCC to review its rules regularly and to repeal those no longer required. There is little opposition to the idea that media ownership policy should promote economic competition (to increase t...

Using data from a recent national survey of the ownership reform of state-owned enterprises in China, we study the effects of politician control and agency problems on the performance of the reformed firms. Taking into account of the endogenous nature of the reform, we find that firm performance is positively affected by the lessening of politician control through increasing the firm’s flexibil...

This study aims to answer to three different questions. First, whether we could observe the short-term abnormal return anomaly or the long-term underperformance in the IPOs of a small economy. Second, if these anomalies exist, whether they are distinct when ownership categories (private versus state owned) are compared. And third, if these categories show different patterns, i. e., whether priv...

This paper addresses the mixed integer reliability redundancy allocation problems to determine simultaneous allocation of optimal reliability and redundancy level of components based on three objective goals. System engineering principles suggest that the best design is the design that maximizes the system operational effectiveness and at the same time minimizes the total cost of ownership (TCO...

Previous analyses of the relationship between board structure and firm performance have not considered how that relationship is affected by external ownership concentration. This paper illustrates how, as a result of this omission, estimates of the impact of staggered boards on firm performance have been biased downward. Including external ownership concentration also allows for the first time ...

The selection of the best suppliers is a key issue for many companies. Nevertheless, it is important to highlight that the most economical supplier may not be the one that has the lowest purchase price. The cheapest supplier is the one that represents the lowest cost to the company, after being considered various aspects of supplying, such as quality, reliability of deliveries, the history of s...

Private forests harbor considerable biodiversity, however, they are under greater threat than reserved areas, particularly from urbanization, agriculture, and intense exploitation for timber and fuel wood. The extent to which they may act as habitats for biodiversity and how level of protection impacts trends in biodiversity and forest structure over time remain underresearched. We contribute t...

W examine how initial public offerings (IPOs) and acquisitions affect entrepreneurial innovation as measured by patent counts and forward patent citations. We construct a firm-year panel data set of all venture capital-backed biotechnology firms founded between 1980 and 2000, tracked yearly through 2006. We address the possibility of unobserved self-selection into exit mode by using coarsened e...