In August 2009 Marvel Entertainment considers a merger with the Walt Disney Company. If Marvel shareholders approve the deal, each Marvel shareholder will receive $30 in cash and 0.7452 shares of Disney per Marvel share, together worth $50 - or a 29 premium over Marvel's stock price at that point in time.
The disciplines of economics and political science, as well as applied climate science, have added a great deal to our understanding of the obstacles to the use of climate information. However, in order for climate information to be fully embraced and successfully implemented into risk management, the issue needs to be looked at in terms of risk communication in human decision makers — (as) individuals and (in) groups. What is special about human risk perception and decision making under risk and situations of uncertainty regarding climate?
This paper studies the presence of hedge funds in the Chapter 11 process and their effects on bankruptcy outcomes. Hedge funds strategically choose positions in the capital structure where their actions could have a bigger impact on value. Their presence, especially as unsecured creditors, helps balance power between the debtor and secured creditors.
We consider the optimal design of mortgage-backed securities (MBS) in a dynamic setting in which a mortgage underwriter with limited liability can engage in costly hidden effort to screen borrowers and can sell loans to investors. We show that (i) the timing of payments to the underwriter is the key incentive mechanism, (ii) the maturity of the optimal contract can be short, and that (iii) bundling mortgages is efficient as it allows investors to learn about underwriter effort more quickly, an information enhancement effect.
Mad Men depicts advertising agency life as it was decades ago. The practice of creative meetings, like our culture, has evolved. But the aims, conflicts, displays, and compromises in advertising meetings are not markedly different than they were in the 1960s. This article provides some observations regarding creative meetings based on participant observation along with Mad Men examples.
This monograph presents existing and new research on three approaches to multiagent incentives. The goal of all three approaches is to find theories that better explain observed institutions than the standard approach has.
An fMRI study was conducted with unfamiliar and familiar (strong and weak) brands to assess linguistic encoding and retrieval processes, and the use of declarative and experiential information, in brand evaluations. As expected, activations in brain areas associated with linguistic encoding were higher for unfamiliar brands, but activations in brain areas associated with information retrieval were higher for strong brands. Interestingly, weak brands were engaged simultaneously in both processes.
Using informant reports on working professionals, we explored the role of listening in interpersonal influence and how listening may account for at least some of the relationship between personality and influence. The results extended prior work which has suggested that listening is positively related to influence for informational and relational reasons.