This paper provides a comparative analysis of the evolution of the technical efficiency of commercial banks in India and Pakistan during 1988-1998, a period characterised by far-reaching changes in the banking industry brought about by financial liberalisation. Data Envelopment Analysis is...

This paper provides a comparative analysis of evolution of technical efficiency in commercial banking industry in India and Pakistan during 1988-1998, a period characterised by far-reaching changes in financial sector brought about by financial liberalisation. Data Envelopment Analysis is...

This paper examines the Asian currency exposure of US firms with regard to their international operational and risk management strategies. We find that contemporaneous and lagged changes in real exchange rates have significant impacts on firm value for about 30% of the US firms with Asian...

SUBJECT AREAS: International Entrepreneurial Finance, Venture Capital, Valuation, Deal Structuring, EntrepreneurshipCASE SETTING: June, 1998, Swedish software company This case describes Spotfire, a two-year old software company specializing in the visualization of complex datasets. Spotfire was...

We explore the relation between corporate diversification and CEO compensation. We document that geographic diversification provides a compensation premium, while industrial diversification is associated with lower levels of CEO pay. We also examine the effect of corporate diversification on the...

Strategically aligned behaviour (SAB), i.e., employee action that is consistent with the company s strategy, is of vital importance to companies. This study provides insights into the way managers can promote such behaviour among employees by stimulating employee motivation and by informing...

Roll [JFE 1977] demonstrates that the probability of early exercise of equity call options is low for small dividend payouts. Geske and Shastri [JBF 1985] show that unless dividends are small, put equity options would not be exercised early. Subsequently, Shastri and Tandon [JFM 1986] argue that...

This paper extends the results of Gadkari and Spindel (Solomon Brothers 1989), Hauser and Levy (JBE v.43, 1991), and Leibowitz, Bader, and Kogelman (JFI v.3, 1993) who show that hedging currency risk converts some or all of the foreign-held claims to synthetic domestic claims. Fixed-income asset...

The application of real options theory to international strategy has surged in recent years. However, it is still a relatively new and loosely defined field, and there are several constraints on practical applications of this powerful theory. To move forward this field, the paper first provides...