Essays in Corporate Finance

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Description
The first chapter uses data on birthplaces of 2,065 Chief Executive Officers (CEO) and a county-level measure of cultural individualism based on the westward expansion in American history to establish a positive relation between CEO cultural individ- ualism and corporate

The first chapter uses data on birthplaces of 2,065 Chief Executive Officers (CEO) and a county-level measure of cultural individualism based on the westward expansion in American history to establish a positive relation between CEO cultural individ- ualism and corporate innovation. Difference-in-differences estimations around CEO turnovers support the causality. Individualistic CEOs increase innovation by creating an innovative corporate culture, providing more flexibility to employees, and tolerance for failure.The second chapter develops a model to study the corporate board structure and communication. Outside directors are related to potential competitors. As a result, they can bring valuable advice and cause information leakage. The firm needs to decide whether to have outside directors on the board. In the presence of the outside director, the other directors need to determine whether to communicate.
Date Created
2022
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A Space-Time Network-Based Modeling Framework for Dynamic Unmanned Aerial Vehicle Routing in Traffic Incident Monitoring Applications

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Description

It is essential for transportation management centers to equip and manage a network of fixed and mobile sensors in order to quickly detect traffic incidents and further monitor the related impact areas, especially for high-impact accidents with dramatic traffic congestion

It is essential for transportation management centers to equip and manage a network of fixed and mobile sensors in order to quickly detect traffic incidents and further monitor the related impact areas, especially for high-impact accidents with dramatic traffic congestion propagation. As emerging small Unmanned Aerial Vehicles (UAVs) start to have a more flexible regulation environment, it is critically important to fully explore the potential for of using UAVs for monitoring recurring and non-recurring traffic conditions and special events on transportation networks. This paper presents a space-time network-based modeling framework for integrated fixed and mobile sensor networks, in order to provide a rapid and systematic road traffic monitoring mechanism. By constructing a discretized space-time network to characterize not only the speed for UAVs but also the time-sensitive impact areas of traffic congestion, we formulate the problem as a linear integer programming model to minimize the detection delay cost and operational cost, subject to feasible flying route constraints. A Lagrangian relaxation solution framework is developed to decompose the original complex problem into a series of computationally efficient time-dependent and least cost path finding sub-problems. Several examples are used to demonstrate the results of proposed models in UAVs' route planning for small and medium-scale networks.

Date Created
2015-06-01
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