3期

最新文章

• Risk Preferences Around the World AI翻译
  作者：Rieger, Marc Oliver; Wang, Mei; Hens, Thorsten
  作者单位：Universitat Trier; WHU - Otto Beisheim School of Management; University of Zurich; University of Zurich; Swiss Finance Institute (SFI); Norwegian School of Economics (NHH)
  摘要：We present results from a large-scale international survey on risk preferences conducted in 53 countries. In all countries, we find, on average, an attitude of risk aversion in gains and of risk seeking in losses. The degree of risk aversion shows significant cross-country differences. Moreover, risk attitudes in our sample depend not only on economic conditions but also on cultural factors, as measured by the Hofstede dimensions individualism and uncertainty avoidance. The data may also serve...
• The Role of Accounting Quality in the M&A Market AI翻译
  作者：Marquardt, Carol; Zur, Emanuel
  作者单位：City University of New York (CUNY) System; Baruch College (CUNY); University System of Maryland; University of Maryland College Park
  摘要：We examine the role of target firms' accounting quality in the merger and acquisition process. We predict that target firm accounting quality will be positively associated with (1) the likelihood that the deal will be structured as a negotiation rather than as an auction, (2) the speed with which the deal reaches final resolution, and (3) the likelihood that the proposed deal is ultimately completed. Our empirical evidence is consistent with these predictions. These results complement and exte...
• On the Origin of Utility, Weighting, and Discounting Functions: How They Get Their Shapes and How to Change Their Shapes AI翻译
  作者：Stewart, Neil; Reimers, Stian; Harris, Adam J. L.
  作者单位：University of Warwick; City St Georges, University of London; University of London; University College London
  摘要：We present a theoretical account of the origin of the shapes of utility, probability weighting, and temporal discounting functions. In an experimental test of the theory, we systematically change the shape of revealed utility, weighting, and discounting functions by manipulating the distribution of monies, probabilities, and delays in the choices used to elicit them. The data demonstrate that there is no stable mapping between attribute values and their subjective equivalents. Expected and dis...