with considering importance of post harvest operation on quality criteria of pot marigold (calendula offıcinalis l.), the effect of flower nutrient source (organic inputs such as cattle manure (25 t ha-1), municipal waste compost (20 t ha-1), spent mushroom compost (15 t ha-1), vermicompost (15 t ha-1) and control) as well as different drying methods including microwave (300, 600 and 900 w), ov...

in this research an experiment based on completely randomized design with three replications and 11 treatments was conducted of mentha piperita. treatments consisted of dryer drying, artificial shade drying, oven drying (50 and 70 °c), and microwave drying with different powers (100, 180, 300, 450, 600 and 900 w) and fresh sample as control. the end time of each treatment determined on the basi...

This paper investigates whether the family status of a company’s top officer affects managerial replacement decisions in UK firms. We report evidence that family firms are characterized by higher levels of board control and weak internal governance in the form of independent company board structures. Consistent with a managerial entrenchment hypothesis, we find evidence that family CEOs are les...

Does CEO duality – the practice of one person serving both as a firm’s CEO and board chair – contribute to or inhibit firm performance? Agency theory suggests that CEO duality is bad for performance because it compromises the monitoring and control of the CEO. Stewardship theory, in contrast, argues that CEO duality may be good for performance due to the unity of command it presents. The empiri...

This paper documents the existence of a CEO Investment Cycle, in which disinvestment decreases over CEO tenure while investment increases, leading to “cyclical” firm growth in assets as well as in employment. The CEO investment cycle is present for both firings and non-performance related CEO turnovers. Its magnitude is substantial: the estimated difference in investment rate between the first ...

We conduct the first systematic analysis of the effect of CEO tenure on risk-taking. We document an overall positive impact of CEO tenure on risk-taking. Our results suggest that this positive relation may not be explained by tenure proxying for power, experiences, or human capital investment. Instead, the results are consistent with the hypothesis that the declining career concerns associated ...

This paper investigates the impact of mergers and acquisitions (M&A) on corporate performance. This article selects 36 M&A cases of China’s listed real estate companies in Shanghai and Shenzhen Stock Exchanges from 2008 to 2009. Regarding the corporate value in 2011 as the measure of the long-term performance, we will explore the relationship among check-and-balance Ownership Structure, board s...

This article presents the growing research area of Behavioural Corporate Finance in the context of one specific example: distortions in corporate investment due to CEO overconfidence. We first review the relevant psychology and experimental evidence on overconfidence. We then summarise the results of Malmendier and Tate (2005a) on the impact of overconfidence on corporate investment. We present...