Building on research in organizational learning and technology management, this study develops and tests a knowledge-based model of acquirer-target relatedness and innovation performance in high technology mergers and acquisitions. Knowledge relatedness emphasizes both complementarity (supporting or facilitating knowledge bases) and similarity (overlapping knowledge bases). An examination of hi...

This paper examines the optimal mix and priority structure of bank and market debt using a tax shield-bankruptcy cost tradeoff model where the only unique feature of banks is their ability to renegotiate. Closed-form expressions are derived for the values of renegotiable bank debt, non-renegotiable market debt, equity, and levered firm values. Optimal debt structure hinges upon ex post bargaini...

This paper suggests a method how to predict electric lighting energy savings for photocell controls in daylit spaces taking manual blind control into account. The method predicts lower but supposedly more “realistic” lighting energy savings than conventional simulation approaches. On the other hand, predicted savings are larger than those predicted by ASHRAE 90.1 power adjustment factors. The m...

This paper uses a field experiment to test whether intrahousehold heterogeneity in discount factors leads to inefficient strategic savings behavior. I gave married couples in rural Kenya the opportunity to open both joint and individual bank accounts at randomly assigned interest rates. I also directly elicited discount factors for all individuals in the experiment. Couples who are well matched...

This chapter presents a low power architecture of a Java processor. We show that the use of techniques like pipeline and the implementation of the stack in a register bank instead of using the main memory allow aggressive reduction of power dissipation, with a very small area overhead. Besides, thanks to the forwarding technique and to the specific stack machine organization, huge power savings...

Published by the World Bank (as “Adjusted Net Savings”) for around 160 countries, Genuine Savings (GS) presents the most respected but also the most debated indicator for “weak” sustainability. It originates from the so-called “Hartwick rule” for the re-investment of rents from the depletion of natural in reproducible forms of capital. Coming from the theoretical reasoning behind GS, this paper...

Proof. The proof will show that any strategy that results in both spouses going to the bank cannot be optimal. Note that if the second mover saves in account a, she will always save so that u′ (c1) = RaδBu (c2) (and must therefore only be saving at interest rate Ra). Now consider the options of the first mover. First suppose the second mover only deposits savings in the joint account. Then the ...

In this paper, we show the pivotal role business owners play in estimating the importance of the precautionary saving motive. Since business owners hold larger amounts of wealth than other households for non-precautionary reasons and also face highly volatile income, they induce a correlation between wealth and income risk regardless of whether or not a precautionary saving motive exists. Using...

Abstrak: Penelitian tentang kepuasan pelanggan bank syariah masih sangat relevan mengingat pangsa pasar yang kecil dari industri perbankan Indonesia. Dengan nasabah lebih puas, di Indonesia mungkin dapat menangkap porsi besar. Tujuan penelitian ini adalah untuk mengidentifikasi unsur-unsur pengalaman tabungan mudharabah berkontribusi terhadap nasabah. Ini lapangan kuantitatif. Nasabah Kantor Ca...

∗Mariacristina De Nardi: UCL, Federal Reserve Bank of Chicago, IFS, and NBER, [email protected]. Fang Yang: Louisiana State University, [email protected]. De Nardi acknowledges support from the ERC, Grant 614328 “Savings and Risks,” and from the ESRC through the Centre for Macroeconomics. We thank Francesco Caselli, Helen Koshy, Ananth Seshadri, Gianluca Violante, Sevin Yeltekin, and several partic...