In this paper two models of investment stemming from the neoclassical theory are derived in a unifying framework. The Q type models view the stock market valuation of a firm as an all-encompassing variable determining its investment decisions, while the Euler equation for investment highlights the dynamic nature of firms’ decisionmaking. A sample of 779 UK manufacturing companies listed in the ...

This paper explores a series of relationships between top managers, strategic direction and financial performance. Building on previous studies, it was hypothesised that: (a) firms pursuing different strategies would be led by managers with different profiles; and, (b) firms which aligned the profiles of their top managers with the requirements of their strategies would outperform those that di...

Optimizing the study of vocabulary words for highstakes tests such as the SAT or GRE prep can be problematic, given that many words are semantically, orthographically, or phonologically confusable. Companies marketing test preparation programs make multiple recommendations, such as clustering words on some basis, but little research has been carried out to examine what that basis should be. Acr...

The role of industry participation in collaborative ecosystem approaches to management initiatives has received limited attention. We first review the literature describing the role of industry in ecosystem management (EM) collaborations, and present a framework for investigating the motivations for industry participation. In order to better understand the incentives for forest industry compani...

Effective hedging strategies for variable annuities are crucial for insurance companies in preventing potentially large losses. We consider discrete hedging of options embedded in guarantees with ratchet features, under both equity (including jump) risk and interest rate risk. Since discrete hedging and the underlying model considered lead to an incomplete market, we compute hedging strategies ...

This paper uses the Luenberger productivity index to evaluate the productivity changes of Greek Life insurance companies between 1994 and 2003, combining operational and financial variables. It is found that the average annual productivity change was about 19% and was due to technological progress, whereas the impact of efficiency was minimal. It seems that deregulation, established by the Thir...

Since the invention of the automobile, cars have taken an important role in our society. Once they were available only to the wealthy few that could afford them as a luxury in life. However, today cars have become a necessity for everyone. German automobile companies like Benz, BMW, Volkswagen, Porsche and Audi are well known for their Engineering and technology. Identifying the above said fact...

Evidence exists that service quality delivery through Web sites is an essential strategy to success, possibly more important than low price andWeb presence. To deliver superior service quality, managers of companies with Web presences must first understand how customers perceive and evaluate online customer service. Information on this topic is beginning to emerge fromboth academic and practiti...

This exploratory study gives an overview of the evolution of the main financial and performance indicators of the Academic Spin-Off’s and High Growth Academic Spin-Off’s in year 3 and year 6 after its creation in the region of Catalonia in Spain. The study compares and evaluates results of these different measures of performance and the degree of success of these companies for each University. ...

The advent of electronic commerce has induced many organizafions to develop a Web presence and exploit the opportunities offered by the Intemet. In an environment that commodifizes products and allows for easy imitative bebavior through instant access to information on competitor's offerings, it is not clear how to build a sustainable competitive advantage. This study endeavors to facilitate an...