65,178 research outputs found

    An applied econometricians' view of empirical corporate governance studies

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    The economic analysis of corporate governance is en vogue. In addition to a host of theoretical papers, an increasing number of empirical studies analyze how ownership structure, capital structure, the structure of the board and the market for corporate control influence firm performance. This is not an easy task, and indeed, for reasons explained in this survey, empirical studies on corporate governance have more than the usual share of econometric problems. Aim of this paper is a critical survey of the recent empirical literature on corporate governance – in order to show which methodological lessons can be learned for future empirical research in the field of corporate governance, paying particular attention to German institutions and data availability. --Corporate governance

    Requirements Problem and Solution Concepts for Adaptive Systems Engineering, and their Relationship to Mathematical Optimisation, Decision Analysis, and Expected Utility Theory

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    Requirements Engineering (RE) focuses on eliciting, modelling, and analyzing the requirements and environment of a system-to-be in order to design its specification. The design of the specification, usually called the Requirements Problem (RP), is a complex problem solving task, as it involves, for each new system-to-be, the discovery and exploration of, and decision making in, new and ill-defined problem and solution spaces. The default RP in RE is to design a specification of the system-to-be which (i) is consistent with given requirements and conditions of its environment, and (ii) together with environment conditions satisfies requirements. This paper (i) shows that the Requirements Problem for Adaptive Systems (RPAS) is different from, and is not a subclass of the default RP, (ii) gives a formal definition of RPAS, and (iii) discusses implications for future research

    Assessing the impact of modeling limits on intelligent systems

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    The knowledge bases underlying intelligent systems are validated. A general conceptual framework is provided for considering the roles in intelligent systems of models of physical, behavioral, and operational phenomena. A methodology is described for identifying limits in particular intelligent systems, and the use of the methodology is illustrated via an experimental evaluation of the pilot-vehicle interface within the Pilot's Associate. The requirements and functionality are outlined for a computer based knowledge engineering environment which would embody the approach advocated and illustrated in earlier discussions. Issues considered include the specific benefits of this functionality, the potential breadth of applicability, and technical feasibility

    Consistent Regulation of Infrastructure Businesses: Some Economic Issues

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    This paper examines some important economic aspects associated with the notion that consistency in the regulation of infrastructure businesses is a desirable feature. It makes two important points. First, it is not easy to measure consistency. In particular, one cannot simply point to different regulatory parameters as evidence of inconsistent regulatory policy. Second, even if one does observe consistency emerging from decisions made by different regulators, it does not necessarily mean that this consistency is desirable. It might be the result, at least partially, of career concerns of regulators.
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