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Dr Kai-Fu Lee praises China as the next epicenter of artificial intelligence, smart data analysis, and robotic automation. With prior IT careers at Apple, M
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Nobel Laureate Paul Milgrom explains the U.S. incentive auction of wireless spectrum allocation from TV broadcasters to telecoms. Paul Milgrom (2019)
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Precautionary-motive and agency reasons for corporate cash management Bates, Kahle, and Stulz (JF 2009) empirically find that public firms have doubled t
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Uniform field theory of corporate finance While the agency and precautionary-motive stories are complementary, these stories can be nested as special cas
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Stock Synopsis: Life insurers emphasize profit margins over sales growth rates. We review and analyze the recent market share data in the U.S. life insur