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	Provedor de dados AgEcon (2) Autor Stiegert, Kyle W. (2) Wang, Shinn-Shyr (2) Dhar, Tirtha Pratim (1) Palavra-chave Market Value Maximization (2) AIDS (1) FIML (1) Marketing (1) Model Selection (1) Price Competition (1) Product Differentiation (1) Quantity Competition (1) Risk and Uncertainty (1) Strategic Delegation (1) Mais... Tipo do documento Conference Paper or Presentation (2) Ano 2007 (1) 2005 (1) País United States (2) Idioma Inglês (2)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 2 Primeira ... 1 ... Última Market Value Maximization through Strategic Delegation AgEcon Wang, Shinn-Shyr; Stiegert, Kyle W.. In this paper, we develop a model of strategic delegation in which shareholders maintain an objective of market value maximization (MVM) of the firm's assets as measured by a capital asset pricing model (CAPM). Optimal delegation requires that managers maximize a linear combination of expected profits and firm values. An interesting feature of this model is that optimal delegation contracts of the MVM objective mitigate competition relative to standard price and quantity duopoly outcomes. In the MVM model, the delegation encourages managers to control systematic risk, which leads to greater market coordination, higher profits, and higher stock values. Impacts of degree of product differentiation on delegation under price and quantity competitions are also... Tipo: Conference Paper or Presentation Palavras-chave: Market Value Maximization; Strategic Delegation; Quantity Competition; Price Competition; Product Differentiation; Marketing. Ano: 2007 URL: http://purl.umn.edu/9754 Strategic Pricing Behavior under Asset Value Maximization AgEcon Wang, Shinn-Shyr; Stiegert, Kyle W.; Dhar, Tirtha Pratim. This paper investigates a comprehensive assessment of firm strategic behavior under financial market uncertainty. A general theoretical model of market value maximization (MVM) is constructed using a traditional capital asset pricing format. The model built on the nonlinear Almost Ideal Demand Systems (AIDS) and structural first-order conditions is developed. By full information maximum likelihood (FIML) estimation, the model evaluates pricing strategies in the U.S. margarine and butter retail markets using 4-week interval scanner data from 1998 to 2002. The model of profit maximization is rejected in favor of the MVM structure, and it indicates that financial market uncertainty plays an important role in the pricing behavior in this industry. We estimate... Tipo: Conference Paper or Presentation Palavras-chave: Market Value Maximization; AIDS; FIML; Model Selection; Risk and Uncertainty. Ano: 2005 URL: http://purl.umn.edu/19198 Registros recuperados: 2 Primeira ... 1 ... Última

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