排序方式: 共有20条查询结果,搜索用时 62 毫秒
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Irving Morrissett Stephen L. Danielski George I. Treyz Mike Everett Fredric R. Kolb Myron Gable 《The Journal of economic education》2013,44(2):174-180
The University of California, Berkeley sends more undergraduate students to economics PhD programs than any other public university. While this fact is surely a function of its size, there may be lessons from the Berkeley experience that others could adopt. To investigate why Berkeley generates so many economics PhD students, the author convened and interviewed two groups: economics student services staff and a self-selected focus group of twelve economics undergraduates who plan to apply to PhD programs. Four factors came up repeatedly in these conversations: math preparation, advanced track for theory courses, research opportunities, and availability of information. A fifth factor was implicit in the conversations: peer effects. 相似文献
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The value of genetic information to livestock buyers: a combined revealed,stated preference approach
Mallory K. Vestal Jayson L. Lusk Eric A. DeVuyst J. Robert Kropp 《Agricultural Economics》2013,44(3):337-347
DNA profile information has begun appearing in purebred bull auction catalogs; however, the value of this information is as of yet unknown. This study uses data from actual bull sales at a test station and combines it with stated‐preference survey data to determine the value of the DNA profile information. Consistent with previous research, we find that expected progeny differences (EPDs), test performance, and ultrasound information significantly influence bull‐buyers’ willingness‐to‐pay. The newer DNA profile information, however, was unrelated to buyers’ preferences. Methodologically, we find statistically significant differences (but highly correlated willingness‐to‐pay values) across the stated and revealed preference data sources. 相似文献
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Most corporate finance practitioners understand the trade-off involved in making effective use of debt capacity while safeguarding the firm's ability to execute its business strategy without disruption. But quantifying that trade-off to arrive at an optimal level of debt can be a complicated and challenging task. This paper develops a simulation model of capital structure that starts by generating multiple estimates of market rates (LIBOR, currency rates) and corresponding company operating cash flows. To arrive at an optimal capital structure, the model then incorporates the shareholder value effects of alternative financing decisions by directly measuring the costs of financial distress, including the costs of missed investment opportunities and higher working capital requirements.
The model generates both a target credit rating and a lower fallback rating that permits a higher level of debt to maintain investments and dividends when operating cash flows are weak. As the model shows, companies with volatile cash flows and significant investment opportunities can add substantial shareholder value by establishing a fallback credit rating that is one or two notches below the target rating. The model also optimizes the mix of fixed versus floating debt, the maturity structure, and the currency composition. Another distinctive feature of the model is its ability to estimate the expected cost of alternative liability structures that can provide the liquidity insurance necessary to sustain the firm through periods of severe stress. This cost turns out to be quite small relative to the total market capitalization of the average firm. 相似文献
The model generates both a target credit rating and a lower fallback rating that permits a higher level of debt to maintain investments and dividends when operating cash flows are weak. As the model shows, companies with volatile cash flows and significant investment opportunities can add substantial shareholder value by establishing a fallback credit rating that is one or two notches below the target rating. The model also optimizes the mix of fixed versus floating debt, the maturity structure, and the currency composition. Another distinctive feature of the model is its ability to estimate the expected cost of alternative liability structures that can provide the liquidity insurance necessary to sustain the firm through periods of severe stress. This cost turns out to be quite small relative to the total market capitalization of the average firm. 相似文献
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Fredric Kropp 《Journal of Small Business Management》2016,54(2):546-565
This study explores the motivations and opportunity recognition patterns of 30 Israeli social entrepreneurs (SEs) through life story analysis. The majority of participants were motivated by pull factors that included prosocial behaviors based on past or current life events. Others were motivated by push factors, including job dissatisfaction and a search for meaning. Based on grounded theory‐building and sensemaking perspectives, we develop a theoretical process model that links motivations, opportunity recognition, and prosocial activities of SEs. Their experiences created an awareness of unmet societal needs, which led to opportunity recognition and formation of social ventures to help fill the gaps. 相似文献
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Matthias Kropp 《The International Journal of Accounting》2009,44(3):307-310
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