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.
Results
Showing 1 to 20 of 110 for “"Adverse selection"”.
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Moral Hazard and Adverse Selection of Executive Compensation
… the structure of incentive contracts in which adverse selection problems are more severe. Specifically, I examine the moderating effect of R&D intensity on the relative weights placed on signals of ability and on performance measures in executive compensation. Furthermore, I also investigate …
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Adverse selection and government intervention in life and health insurance markets
… paper presents new evidence of the importance of adverse selection in insurance markets. The first paper examines the empirical consequences of imposing binding minimum standards on the market for private health insurance for the elderly in the United States. I find robust evidence of a …
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The presence of adverse selection in the Las Vegas resale housing market
Adverse selection may affect the resale housing market. Sellers hold valuable information concerning the quality of their homes that is not directly available to buyers. If buyers are unable to identify quality, the relocation decision is different for owners of low and high-quality houses. Since …
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Which version of the equity market timing affects capital structure, perceived mispricing or adverse selection?
… of market timing: perceived mispricing and adverse selection. The main purpose of this dissertation is to empirically identify the relative importance of these two explanations. First, I retest Baker and Wurgler's theory by using insider trading as an alternative to market-to-book ratio to …
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Joint use of poverty scoring and credit scoring: advantages and limitations of a new technique for socially oriented and sustainability-minded microfinance institutions
Financial institutions face adverse selection, in which risky borrowers are more likely to seek and take up loans. When interest rates increase, adverse selection rises, often disproportionately. Microfinance Institutions (MFIs), which generally operate with higher interest rates, are more exposed …
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Essays on financial market imperfections
… revelation through price and exacerbates adverse selection. The exacerbated adverse selection explains one long-standing puzzle in finance - the momentum anomaly. Properly adjusting stock returns for adverse selection by using data on trading volume substantially mitigates momentum-based …
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Essays in Market Microstructure
… empirically examines whether specialists face adverse selection and evaluates the performance of the six measures of adverse selection or trade informativeness. I find that specialists face adverse selection. I find that the Glosten-Harris (1988) measure is the most reliable, that the …
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Do accruals exacerbate information asymmetry in the market?
… costs in the form of the bid-ask spread and its adverse selection component. I examine this impact both, in general, for all trading activity occurring for a firm over a continuous flow of information during the year and around the first release of accrual information for each quarter. The …
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Two Essays on Liquidity Essay I: Information Related Trading on Two Nearly Identical Options Essay II: The Importance of the Liquidity Premium in the Presence of Declining Transactions Cost
… and Nimalendran (1991) is used to estimate the adverse selection proportion of log quoted spread and revenue from quoted spread. Primary results show that the adverse selection component of index options declines after the introduction of ETF options, and that the adverse selection component of …
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Rigid or flexible accounting rules? : evidence from purchase price adjustments
… I provide evidence that hidden action and adverse selection problems determine whether the buyer and seller use rigid or flexible accounting. I also provide evidence that this choice is associated with other features of the contract related to purchase price adjustment flexibility and to …
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An evaluation of defense contracting based on transaction cost theory
… contracting. The study shows, in particular that adverse selection, moral hazard, and hold-up problems exist within defense contracting. Based on the results of this study the transaction cost paradigm can be used as a framework for evaluating defense contracts and related problems. The results …
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Essays on reputation
… the value of reputation in a market prone to adverse selection and also the incentives of the individuals in that market to participate in the reputation mechanism. Ever since [Akerlof, 1970], it is known that adverse selection can hinder trade. Reputation can be used as a possible mechanism …
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Three Essays on Social Networks in Labor Markets
… networks impacts labor mobility in markets with adverse selection. When there is asymmetric information in labor markets, worker mobility is constrained by adverse selection in the market for experienced workers. However, if workers can acquire references through their social networks then they …
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Objectives and incentives in financial markets
… by borrowers over time. A financial market with adverse selection and moral hazard is analyzed. Facing the adverse selection, lenders are not able to offer separate contracts to different types of borrowers. However, knowing borrowers' credit histories, lenders are able to assign different credit …
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Some Issues on Optimal Non-Linear Taxation
… effort be private information. Therefore, both adverse selection and moral hazard problems may arise. In particular, we prove that, under adverse selection, it is optimal for the Social Planner to fully insure high-skilled agents and to over-insure low-skilled ones. Moreover, no high-type …
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Essays on Corruption and Enforcement
… a principal – agent – auditor model with adverse selection in which the principal optimally allows bribery to occur due to the potential for extortion. This result mirrors the moral hazard model of Khalil, Lawarrée and Yun (2010). I introduce a probability that the agent is “honest” in …
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Essays on coalition formation under asymmetric information
… Principle is still applicable in the pure adverse selection model. We then extend this result to a model with both adverse selection and moral hazard aspects. Finally, we consider a three-tier principal/supervisor/agent hierarchical organization, as in Tirole (1986). We explicitly present …
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Slotting Allowances, Failure Fees and Asymmetric Information in the Grocery Supply Chain
… and alleviate asymmetric information problems. Adverse selection problems can be reduced by utilizing such mechanisms to align incentives for retailers and manufacturers when shelving new product introductions.
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Macroeconomics and financial fragility
… the ex-ante production of assets and ex-post adverse selection in financial markets. Positive shocks that increase market liquidity and prices exacerbate the production of low-quality assets and can increase the likelihood of a financial market collapse. An increase in government bonds …
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International evidence and implications of student take-up of income share agreements on U.S. higher education
… of ISAs in education or about moral hazard and adverse selection in ISAs. I use administrative data from an ISA provider in Colombia and Peru called Lumni, and I combine it with a survey of ISA Takers and ISA Non-Takers to shed light on the role that ISAs play in college persistence and on the …
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