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On Timing and Selectivity
The dichotomy between timing ability and the ability to select individual assets has been widely used in discussing investment performance measurement. This paper discusses the conceptual and econometric problems associated with defining and…
On the Evaluation of Structural Equation Models
Criteria for evaluating structural equation models with latent variables are defined, critiqued, and illustrated. An overall program for model evaluation is proposed based upon an interpretation of converging and diverging evidence. Model…
On the Robustness of Equilibrium Refinements
Abstract not available.
On the Term Structure of Interest Rates
This is a brief review of the theory of the term structure of interest rates, and includes a discrete-time example that parallels the continuous-time model of the term structure due to Cox, Ingersoll, and Ross.
Optimal Auditing, Insurance, and Redistribution
The objective of this paper is to analyse optimal tax and audit strategies for a principal seeking to redistribute income among a population of taxpayers when the principal can observe the income of an individual at a cost. We show that in very…
Optimal Hedging and Equilibrium in a Dynamic Futures Market
In this paper optimal hedging strategies are solved for in a continuous time setting. We consider a single agent maximizing the expected utility of the sum of the terminal value of a fixed portfolio of spot market assets and the terminal value of…
Optimal Innovation of Futures Contracts
This paper provides an expression for the revenue maximizing and open interest maximizing choice of futures contracts by exchanges in incomplete markets under uncertainty, with quadratic Von Neumann-Morgenstern preferences and proportional…
Optimal Investment With Stock Repurchase and Financing As Signals
Abstract not available.
Organization Development Theory: A Typology and Evaluation
Two types of Organization Development theory are identified and discussed. The first, implementation theory, focuses on the intervention activity required to carry out effective planned change efforts in organizations. The second, change process…
Organizational Ecology and Strategic Management: An Evolutionary Process Perspective
Organizations can be viewed as opportunity structures motivating strategic behavior on the part of their participants and the strategic process in organizations constitutes an internalized and contrived evolutionary mechanism nested in the…
Plans, Performances, and Experiences: A Theory of Goal Directed Behaviors and Outcomes
This paper presents an integrative theoretical framework explaining goal achievement and behavioral performance and then tests the theory in head-to-head comparisons with the theory of reasoned action and the theory of planned behavior. Our…
Price Destabilizing Speculation
Price Promotions: Limiting Competitive Encroachment
In this paper we explore equilibrium pricing strategies in an infinite horizon repeated game for an oligopoly. In a model where two symmetric firms (out of three) have a loyal customer base, it is shown that if there are sufficiently large number…
Process Constraints on Strategic Capability Transfer During Acquisition Integration
This paper reports the results of an in-depth study of the acquisition integration process in seven acquisitions representing twelve firms. A grounded theory of acquisition integration is elaborated. Three constraints in the integration process…
Questioning the Assumptions of Value Engineering: Alternative Views of the Cultural Change Process
Advocates of “value engineering” typically share assumptions about what culture is an how it changes. We delineate these assumptions and argue that they are misleadingly limited. Perceiving and enacting culture change. We present two alternative…
Questioning the Assumptions of Value Engineering: Alternative Views of the Culture Change Process
No additional information is available at this time.
Service-Induced Campaign Contributions and the Electoral Equilibrium
Congressional incumbents are successful in over 90 percent of their reelection contests. Once explanation for this incumbency advantage is that incumbents provide services to constituents and interest groups as a means of generating both campaign…
Setup Reduction and Increased Effective Capacity
Setup reduction is an important aspect of the Just in Time (JIT) and Zero Inventory (ZI) concepts. This paper continues the study of the benefits of such reduction. Porteus (1985b) examined the tradeoff between investment in reduced setups and…
Social Group Identity and the Emergence of Cooperation in Resource Conservation Dilemmas
Abstract not available.