We document that home ownership of households with “heads” aged 25– 44 years fell substantially between 1980 and 2000 and recovered only partially during the 2001–2005 housing boom. The 1980–2000 decline in young home ownership occurred as improvements in mortgage opportunities made it easier to purchase a home. This paper uses an equilibrium life-cycle model calibrated to micro and macro evide...

This paper investigates the characteristics of firms that adopt persistent conservative financial policies. We are mainly interested in the determinants of the likelihood of firms adopting the persistent policies of low-leverage and high-cash holdings simultaneously. In this paper, we classify firms as financially conservative if they adopt both low-leverage and high-cash policies at the same t...

Document security is an increasingly important element in the multi-faceted discipline of document processing, and authentication of individual identity will play an increasingly important future role in relation to questions of document ownership, identity and confidentiality. Biometrics-based techniques are emerging as key elements in the drive to address security and confidentiality in an ef...

We present observational user study findings of UbiTable, a multi-user interactive table top that provides walk-up wireless connections for multiple personal devices. UbiTable offers shared interactions that allow writing, annotating, drawing, copying, and the transferring of content amoung the tabletop and associated user devices. Out findings uncovered general design considerations and tradeo...

This document describes procedures for conveying access-network ownership and location information based on civic and geospatial location formats in Remote Authentication Dial-In User Service (RADIUS) and Diameter. The distribution of location information is a privacy-sensitive task. Dealing with mechanisms to preserve the user's privacy is important and is addressed in this document. Status of...

This paper deals with the development and assessment of a watermarking technique which is suitable for scanned PDF documents. The watermark will serve two purposes. The first one is a logo to protect the copyright ownership. This watermark should be invisible and secure and can be extracted even if the document has gone through slight image manipulations. The second watermark will be used to au...

We document that in M&As a significant proportion of targets’ equity is owned by financial institutions that simultaneously own targets’ bonds (“dual holders”). Targets with larger equity ownership by dual holders have lower M&A equity premia and larger abnormal bond returns, particularly when dual holders stand to benefit more from appreciation of their bond stakes, e.g., when their bond owner...

We document evidence of corruption in Chinese state asset sales. These sales involved stakes in partially privatized firms, providing a benchmark—the price of publicly traded shares—to measure underpricing. Underpricing is correlated with deal attributes associated with misgovernance and corruption. Sales by “disguised” owners that misrepresent their state ownership to elude regulatory scrutiny...

Afin de se conformer à la Loi canadienne sur la protection des renseignements personnels, quelques formulaires secondaires, coordonnées ou signatures intégrées au texte ont pu être enlevés de ce document. Bien que cela ait pu affecter la pagination, il n'y a aucun contenu manquant. The author of this thesis or dissertation has granted a nonexclusive license allowing Université de Montréal to re...

Recent research suggests that large software systems should have a documented system architecture. One form of documentation that may help describe the structure of software systems is the organization of the developers that designed and implemented the software system. We suggest that an ownership architecture that documents the relationship between developers and source code is a valuable aid...