1,402 research outputs found
Tjalling Charles Koopmans (August 28, 1910-February 26, 1985)
No full textTjalling C. Koopmans made fundamental contributions to economics. This paper, prepared for a National Academy of Sciences volume of memoirs, provides a biographical sketch of this extraordinary individual.
Tjalling Charles Koopmans (August 28, 1910–February 26, 1985)
No full textTjalling C. Koopmans made fundamental contributions to economics. This paper, prepared for a National Academy of Sciences volume of memoirs, provides a biographical sketch of this extraordinary individual
Koopmans (Tjalling C.) ed.- Activity Analysis of Production and Allocation Proceedings of a Conference.
No full textMalinvaud Edmond. Koopmans (Tjalling C.) ed.- Activity Analysis of Production and Allocation Proceedings of a Conference.. In: Revue économique, volume 5, n°1, 1954. pp. 126-128
The relevance of security analyst opinions for investment decisions
No full textSecurity analysts analyze information regarding publicly traded companies after which they publish their opinion regarding these companies’ stocks. In this dissertation the published opinions of two different types of analysts are analyzed. Technical analysts derive a recommendation to buy, hold, or sell a stock from past price and volume data. Fundamental analysts analyze firm fundamentals such as corporate earnings and growth prospects. They subsequently publish a recommendation and a target price which captures the analyst’s expectations regarding the future stock price. The extent to which the stock market responds to the announcement of analyst recommendations provides information about the degree of market efficiency. This dissertation shows that technical analyst recommendations published on both stocks and the market index in the Netherlands are strongly related to short-term historical price trends. However, on average no abnormal returns are observed after the publication of this type of recommendations. It could therefore not be established that technical analyst recommendations are relevant for investment decisions. Hence, the notion of weak-form market efficiency could not be rejected. In contrast, the stock market is not fully semi-strong efficient, as analyst opinions exhibit relevance for investment decisions: recommendations regarding South African stocks are related to future stock price performance, and target price implied returns are positively associated with realized takeover premiums in the United States (US). Furthermore, US merger bids below the average target price are more likely to be rejected. With regard to takeover bids, general determinants of cross-border takeover activity are also studied in this dissertation. It is found that especially valuation played an important role: acquirers (targets) tend to originate from countries with relatively high (low) market-to-book values
Studies in Econometric Method, by Cowles Commission for Research Staff members, Edited by W.M.C. Hood and Tjalling C. Koopmans.
No full textVerhulst Michel. Studies in Econometric Method, by Cowles Commission for Research Staff members, Edited by W.M.C. Hood and Tjalling C. Koopmans.. In: Revue économique, volume 5, n°3, 1954. pp. 481-482
Studies in Econometric Method, by Cowles Commission for Research Staff members, Edited by W.M.C. Hood and Tjalling C. Koopmans.
No full textVerhulst Michel. Studies in Econometric Method, by Cowles Commission for Research Staff members, Edited by W.M.C. Hood and Tjalling C. Koopmans.. In: Revue économique, volume 5, n°3, 1954. pp. 481-482
Horizontal integration in markets for complementary components and vertical product differentiation: A case-based analysis in the semiconductor industry
No full textObservations of recent mergers and acquisitions (M&A) in the semiconductor and computer industry indicate that activities concentrate on the technology leaders in this market. The author examines the influence of players’ heterogeneous product technologies on their involvement in M&A. He provides a rationale for the influence with the help of a case study and a two-stage non cooperative game. The case is about an acquisition wave between suppliers in two semiconductor component markets. Exemplary for the whole industry, acquisition activities concentrated on the technology leader in one of the component markets. Technological heterogeneity is represented within a vertically differentiated product space in the model
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