Worldwide revenue for collaborative software
Modeling the bid/ask spread: Measuring the inventory-holding premium (.pdf)
This article models (and tests!) the bid/ask spread of stock trades and models it as a function of “minimum tick size, order-processing costs, inventory holding costs, adverse selection costs, and competition.” VERY cool. And the model even seems to work empirically! [FinanceProfessor.com Annotation]
Content: Article | Authors: Nicholas P.B. Bollen, Robert E. Whaley, Tom Smith | Source: Journal of Financial Economics | Subjects: Finance, Industry Specific | Industry: Investment Banking
Anti-Sp*m Market
DRAM a Short-Term Winner
Global DSL Lines Exceed 55M
Stock Prices and IPO Waves (.pdf)
Pastor and Veronsi explain IPO waves by creating a model of “optimal IPO timing.” Their model predicts that firms will be more willing to issue shares when the required returns are lower, when the firm’s expected cash flows are higher (which could be interpreted at there being more positive investment opportunities-and therefore likely a greater need for cash), and “when the uncertainty surrounding … [ Read more ]
Content: Article | Authors: Lubos Pastor, Pietro Veronesi | Source: University of Chicago | Subjects: Finance, Industry Specific | Industry: Investment Banking
Political Leanings of Popular News Programs (U.S.)
The race for new e-business models (Allianz)
The case of Allianz Group’s drive to break away from the competition illustrates the positive impact inter-firm competition can have on overall firm strategy.
Note: This is an edited excerpt of a case study written by the Allianz Management Institute with Christoph Lechner, Karolin Marx and Günter Müller-Stewens of the University of St. Gallen. It was originally intended for classroom discussion but in this form, … [ Read more ]
Content: Case Study | Authors: Christoph Lechner, Günter Müller-Stewens, Karolin Marx | Source: European Business Forum (EBF) | Subjects: Industry Specific, IT / Technology / E-Business | Industry: Insurance
IT Industries’ Contribution to GDP
Digital TV to Soar in 2004
Where Does Apple Go from Here?
Macintosh market share continues to decline, but the iPod and iTunes are hit products. Where does Apple Computer’s future lie? An interview with HBS professor David Yoffie.
Content: Case Study | Author: David Yoffie | Source: Harvard Business School (HBS) Working Knowledge | Subjects: Industry Specific, Strategy | Industry: Personal Computer
% of US Retail Sales by Category
The Impact of Market Design and Institutional Features on World Equity Market Performance: The Relation Between Market Design
Westerholm, Swan, and Liu look at how market design impacts how the market operates. That is, there is a tradeoff between transaction costs and volatility. Having dealers available to trade continually increases expenses, which in turn lead to larger spreads (transaction costs) for these so-called continuous dealer markets. On the other hand in return for these larger spreads, the dealers do help … [ Read more ]
Content: Article | Authors: P. Joakim Westerholm, Peter L. Swan, Stella Liu | Source: Social Science Research Network (SSRN) | Subjects: Finance, Industry Specific | Industry: Investment Banking
US Ad Spending Update
Gift Giving in the U.S.
U.S. Check Fraud
CFO Compensation, 2002 vs. 2001
The Impact of Clientele Changes: Evidence from Stock Splits
A stock split occurs when a company changes the number of shares it has outstanding. For example, suppose the firm had 1 million shares outstanding and then announced a 2:1 split. The firm would now have 2 million shares outstanding. It is not surprising that the stock price drops after the split, but what continues to leave researchers puzzled is why there … [ Read more ]
Content: Article | Authors: Ning Zhu, Ravi Dhar, William N. Goetzmann | Source: Social Science Research Network (SSRN) | Subjects: Finance, Industry Specific | Industry: Investment Banking