نتایج جستجو برای: opportunism
تعداد نتایج: 749 فیلتر نتایج به سال:
Recognizing opportunities to achieve pending goals is an important cognitive ability. But when and how do we recognize that a current situation is especially suited to resuming a past goal? The predictive encoding model suggests pending goals are stored in memory as associations with environmental features. Optimally, these features are (1) predicted to be necessary for successful goal satisfac...
This paper examines whether share repurchase announcements are signals of undervaluation or insiders’ opportunistic activities by investigating insider trading patterns surrounding buyback in Vietnam. Consistent with the opportunism hypothesis, we show that insiders net buyers before but they sell intensively after event. We also find subsequent selling not followed an improvement firms’ operat...
Managerial opportunism is commonly considered as destructive for the parties involved in an agency relationship. Using a formulation close to Jensen and Meckling’s equity model, we consider an agency relationship between a manager and an investor. The latter is assumed to benefit from a market power in terms of external funding opportunities. For high values of the prevailing rate of interest, ...
People often form expectations about others using the lens of their own attitudes (the so-called consensus effect). We study the implications of this for trust and trustworthiness. Trustworthy individuals are more “optimistic” than opportunists and are accordingly less afraid to engage in market-based exchanges, where they may be vulnerable to opportunistic behavior. In some cases, the material...
Do voters recognize opportunistic behavior? Do voters punish politicians identified as opportunistic even though their policies are responsible for the economic prosperity of pre-electoral times? If so, how big is the loss of votes related to that punishment? This paper addresses these questions and presents an empirical estimate regarding the voter’s direct response to opportunism. In particul...
We discuss and examine empirically a firm-level equivalent of the ancient problem of ‘tying the King’s hands’, namely how to avoid managerial intervention that is undertaken to reap private benefits but is harmful to overall value creation, that is, ‘managerial opportunism’. The link from managerial intervention to firm-level value-creation is moderated by employee motivation. Thus, interventio...
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