Research has shown that respondents to protective orders have robust criminal histories and that criminal offending behavior often follows issuance of a protective order. Nonetheless, the specific nature of the association between protective orders and criminal offending remains unclear. This study uses two classes of statistical models to more clearly delineate that relationship. The models re...

Abstract We analyze rights and public offerings when informed shareholders strategically choose to subscribe. Absent wealth constraints, achieve the full information outcome dominate offerings. When some are constrained, lead more dilution of their stakes lower payoffs, despite income from selling these rights. In both offerings, there is a trade-off between investment efficiency transfers amon...

‎In this paper‎, ‎we consider the optimal asset control of a financial company which can control its liquid reserves by paying dividends and by issuing new equity‎. ‎We assume that the liquid surplus of the company in the absence of control is modeled by the diffusion model‎. ‎It is a hot topic to maximize the expected present value of dividends payout minus equity issuance until the time of ba...

We argue that convertible securities can better attract investors with different beliefs on the firm’s future cash flows compared to straight bond and stock. We find that a firm is more likely to issue convertibles rather than stock and straight bond when investors are more heterogeneous in their beliefs. We also find that the positive impact of heterogeneous beliefs on the likelihood of a conv...

Smart cards have been deployed as trusted components in a wide range of industries. The basis of the trust on a smart card platform and applications is static and evaluated before the card issuance to cardholders. A dynamic and post-issuance security assurance and validation mechanism can be useful, but it is not considered necessary in the Issuer Centric Smart Card Ownership Model. However, in...

‎in this paper‎, ‎we consider the optimal asset control of a financial company which can control its liquid reserves by paying dividends and by issuing new equity‎. ‎we assume that the liquid surplus of the company in the absence of control is modeled by the diffusion model‎. ‎it is a hot topic to maximize the expected present value of dividends payout minus equity issuance until the time of ba...