Most firms face some form of competition in product markets. The degree of competition a firm faces feeds back into its cash flows and affects the values of the securities it issues. Through its effects on stock prices, product market competition affects t ...
We use a dynamic model of financing decisions to measure agency conflicts for a large panel of 12,652 firms from 14 countries. Our estimates show that agency conflicts are large and vary significantly across firms and countries. Differences in agency confl ...
Organizing is a managerial process which demands a sense of purpose. When stories about "who we are" and "what we do" are salient and coherent (Voss, Cable & Voss, 2006), organizations can better plan, explain and justify collective action (Whetten & Macke ...
This thesis examines the optimal mode of financing for banks and financial institutions. The first chapter, which is a joint work with Prof. Jean-Charles Rochet, investigates how Systemically Important Financial Institutions (SIFIs) should be financed. The ...
Commonly used disdrometers tend not to accurately measure concentrations of very small drops in the raindrop size distribution (DSD), either through truncation of the DSD at the small-drop end or because of large uncertainties on these measurements. Recent ...
During the last decade, the development of optofluidic chips has become a large field of research. The integration of nano and microstructures with microfluidics layers allowed for the miniaturisation of a number of tools traditionally used in laboratories ...
Based on a dynamic model of the stochastic repayment behavior exhibited by delinquent credit-card accounts as a self-exciting point process, a bank can control the arrival intensity of repayments using costly account-treatment actions. A semi-analytic solu ...
In this thesis I study how firms choose their optimal debt maturity. The recent financial crisis illustrated why debt maturity is an important determinant of firmsâ capital structure and it also renewed economistsâ interest in this topic, see for examp ...
A new technique for estimating the raindrop size distribution (DSD) from polarimetric radar data is proposed. Two statistical moments of the DSD are estimated from polarimetric variables, and the DSD is reconstructed using a double-moment normalisation. Th ...
The replicating portfolio (RP) approach to the calculation of capital for life insurance portfolios is an industry standard. The RP is obtained from projecting the terminal loss of discounted asset–liability cash flows on a set of factors generated by a fa ...
