Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 36 for “"Adjustment costs"”.
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Adjustment costs and dynamic factor demands : investment and employment under uncertainty
Thesis (Ph. D.)--Massachusetts Institute of Technology, Dept. of Economics, 1988.
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Approaches to the measurement of efficiency in a dynamic context: with an application to the UK banking sector
… of the cost efficiency of firms in which adjustment costs affect the optimal allocation of factor inputs. The two approaches we consider are, first, based o n direct calculation of an efficiency index and, second, the estimation of a parametric model. The implementation of both approaches …
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Three essays in corporate finance
… decade. It investigates the variation of capital adjustment costs in explaining the investment-cash flow sensitivity and shows that the decreasing trend of the investment-cash flow sensitivity can be explained by the gradually increasing costs of capital adjustment. Chapter 3 studies the behavior …
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Real investment and dividend policy in a dynamic stochastic general equilibrium (DSGE) model. Corporate finance at an aggregate level through DSGE models.
… aggregate payouts is sensitive to capital adjustment costs. My simulated results show that costly frictions from changing the capital base of the firm cause optimal aggregate dividends and real investments to be smooth and share prices to be volatile. This finding is consistent with prior …
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Real investment and dividend policy in a dynamic stochastic general equilibrium (DSGE) model. Corporate finance at an aggregate level through DSGE models.
… aggregate payouts is sensitive to capital adjustment costs. My simulated results show that costly frictions from changing the capital base of the firm cause optimal aggregate dividends and real investments to be smooth and share prices to be volatile. This finding is consistent with prior …
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Examining agricultural investment
… is also the most restrictive with symmetric adjustment costs and no financial constraint. Within the financial constraint, only the value of short-term assets and net worth are ever found to be statistically significant. Estimated adjustment costs are either negative or positive but extremely …
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Three Essays on Corporate Finance and Labor
… Further analyses confirm that the debt structure adjustments after union certification are more likely driven by the strategic concerns of management rather than more constrained access to bank loans. Finally, we also show that the degree of wage concessions is strongly related to a firm's debt …
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A Dynamic Welfare Analysis of Price Stabilization Policies in the Korean Rice Market
… rice market have been examined within a partial adjustment dynamic framework, investigating feasible policy alternatives. A price band buffer stock program (PBBP), PBBP with consumption subsidy and a deficiency payments program where the target prices are set below the expected equilibrium prices …
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Two Essays on Investment and Financing Decisions of Firms
… as they are affected by the existence of adjustment costs.
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Essays on Exchange Rates and Emerging Markets
… several open economy frictions: i) bond-holding adjustment costs, ii) investment adjustment costs, iii) a working capital constraint, and iv) a country spread component that depends upon macro fundamentals, which is taken from the estimated VAR. The model is able to replicate fairly good the …
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Long term contracts and farm inflexibility premium in the production of cellulosic ethanol
… contract in order to maintain options for adjustments in future acreage allocations due to changes in relative prices. Of interest in this research is to understand the incentives of farmers and calculating the efficient level of the “inflexibility premium”, which a processing firm must …
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Rising technologies, investment and discount rates
… impact on investment's sensitivity to funding costs. I show that the rising share of intangibles in U.S firms' assets significantly dampens the stimulus effect of interest rate shocks. For a given surprise change to the fed funds rate, a one standard deviation above the mean in intangible …
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Essays in Labor and Finance
… which firms face upward-sloping labor supply and adjustment costs in hiring, I estimate that firms in the top and bottom quartiles of labor productivity pay 62% and 94% of marginal product, despite the fact that adjustment costs temper the exercise of labor market power. Markdown differentials can …
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Bank Capital Management
… bu®ers and charter values, and the simultaneous adjustments of capital and risk. In each of the research chapters, we acknowledge the endogenous nature of the capital decision of a bank, and assume that banks will de¯ne an internally optimal probability of default (a function of risk and capital) …
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Sources of productivity growth in Vietnam: Three essays
… firm-level productivity and incurred informal costs. Based on a panel dataset of formal and informal firms during 2007-2015, the paper employs a matched difference-in-difference approach to find that such transition, known as 'formalisation', leads to higher investment, greater capital stock …
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Sources of productivity growth in Vietnam: Three essays
… firm-level productivity and incurred informal costs. Based on a panel dataset of formal and informal firms during 2007-2015, the paper employs a matched difference-in-difference approach to find that such transition, known as 'formalisation', leads to higher investment, greater capital stock …
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ESSAYS ON ECONOMIC POLICY AND FIRM DYNAMICS
… carbon emissions, emission externalities, adjustment costs, and financial frictions. In a calibrated version of this model, the optimal carbon tax is three times higher than in a counterfactual economy in which there is no relation between emission intensity and marginal products. …
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Three essays in financial economics
… Stock Returns, investigates the effects of labor costs on firms’ capital investments and stock returns. I estimate wage premia across U.S. industries and show that the negative investment-return relation implied by q-theory is steeper for high wage firms than for low wage firms. Using wage premia …
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Essays in Labor Economics
… permanent, and if the technology does involve adjustment costs, employers may adjust their production, particularly employment, before the minimum wage is implemented. In that case, lead effects are part of the genuine impact of minimum wage increases, not a pre-existing trend that ought to be …
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Two Essays: “Does Corporate Governance Affect the Adjustment Speed towards Target Capital Structure?” and “Do Option Traders on REITs and Non-REITs React Differently to New Information?”
… structure behavior. Based on the premise that costs associated with deviations from the target capital structure are positively correlated to the extent of deviation, we hypothesize that the initial deviation from the target will be shorter for a firm with good corporate governance than for a …
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