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Essays on Information Structure and ...
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Chen, Alvin.
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Essays on Information Structure and Corporate Policies.
Record Type:
Electronic resources : Monograph/item
Title/Author:
Essays on Information Structure and Corporate Policies./
Author:
Chen, Alvin.
Published:
Ann Arbor : ProQuest Dissertations & Theses, : 2019,
Description:
107 p.
Notes:
Source: Dissertations Abstracts International, Volume: 81-04, Section: A.
Contained By:
Dissertations Abstracts International81-04A.
Subject:
Finance. -
Online resource:
http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=13881517
ISBN:
9781085783484
Essays on Information Structure and Corporate Policies.
Chen, Alvin.
Essays on Information Structure and Corporate Policies.
- Ann Arbor : ProQuest Dissertations & Theses, 2019 - 107 p.
Source: Dissertations Abstracts International, Volume: 81-04, Section: A.
Thesis (Ph.D.)--University of Washington, 2019.
This item must not be sold to any third party vendors.
These essays explore the connection between the structure of information and corporate policies. The first essay, "Firm Performance Pay as Insurance for Workers," studies a setting in which non-executive workers compete against each other for promotions into higher level positions. I show that when workers prefer early resolution of uncertainty, information about firm output generates promotion risk, against which firm performance pay insures. The second essay, "Fighting Fire with Fire: Mitigating Information Asymmetry with Open-Market Repurchase Program," analyzes the effects of open-market repurchase programs on liquidity. I find that in the presence of other informed traders, share repurchases generate two competing effects on liquidity trading costs. I provide conditions under which repurchase programs mitigate the adverse selection problem, rather than exacerbate it.
ISBN: 9781085783484Subjects--Topical Terms:
542899
Finance.
Essays on Information Structure and Corporate Policies.
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These essays explore the connection between the structure of information and corporate policies. The first essay, "Firm Performance Pay as Insurance for Workers," studies a setting in which non-executive workers compete against each other for promotions into higher level positions. I show that when workers prefer early resolution of uncertainty, information about firm output generates promotion risk, against which firm performance pay insures. The second essay, "Fighting Fire with Fire: Mitigating Information Asymmetry with Open-Market Repurchase Program," analyzes the effects of open-market repurchase programs on liquidity. I find that in the presence of other informed traders, share repurchases generate two competing effects on liquidity trading costs. I provide conditions under which repurchase programs mitigate the adverse selection problem, rather than exacerbate it.
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http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=13881517
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