Thesis (Ph. D.)--University of Missouri-Columbia, 2000. / Typescript. Vita. Includes bibliographical references (leaves 484-407). Also available on the Internet.

There is an ethical dilemma and a legal issue of earnings management and insider trading, and a risk of it affecting the accuracy of financial markets. The use of earnings management leads to an information asymmetry between the corporate management and the financial markets. This paper investigates how earnings management affects insider trading and whether insider trading is a good information source about earnings quality and future performance. Studying companies believed to have conducted earnings management on Nasdaq OMX Nordic Stock Exchange (Stockholm) from 2005 through 2014 indicates that: (1) insiders do not sell shares after managing earnings upwards; (2) the relationship between insider selling and future earnings performance is positive, contradicting agency theory and previous research; (3) the market’s reaction to the earnings announcement one year after suspected earnings management is positive for firms where insiders have sold shares, and vice versa. Taken together, our results are not in line with those of previous studies conducted on other markets. This is likely to depend on the unique Swedish setting with the existence of endowment insurances, where insiders can trade shares without having to disclose their transactions to the market. Because of this, we argue that insider trading is not an adequate signal about Swedish firms’ earnings quality and future performance. We therefor further emphasize the importance of a change in the Swedish legislation, in order to insure the accuracy of financial markets and to protect other investors.

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This thesis examines the possibility of retaining, redesigning, and integrating existing farm and forestlands within the proposed South Campus community development at the University of British Columbia (UBC). The central tenant of my thesis is, given the importance of agriculture in the development of human culture and the UBC Point Grey Campus, and the vital role it will play in the 21st Century, agricultural lands and facilities should be conserved and given a place of importance within the UBC landscape. An explanation is provided on how such an integrative proposal for these lands, collectively known as the UBC South Campus Farm, would support the economic, ecological, and social interests and expectations of the University, and the Greater Vancouver Regional District (GVRD), while providing an exciting learning and living environment for students, faculty staff and community members. An alternative proposal for the South Campus Farm and the South Campus community is provided that supports the stated interests of the University and the GVRD. This is accomplished through a careful assessment of the cultural and biophysical features of the South Campus lands and the subsequent development and application of a regenerative design process applied within a fourfold framework based on the concepts of ecology, economy, integrity and beauty. The final design proposal is compared and evaluated against the current situation and the University development plans.

Thesis (Ph. D.)--Indiana University, 1991. / Vita. eContent provider-neutral record in process. Description based on print version record. Includes bibliographical references (leaves 1049-1074).

Thesis (Ph. D.)--Indiana University, 1991. / Vita. Includes bibliographical references (leaves 1049-1074).

Thesis (Ph. D.)--Illinois State University, 2001. / Title from title page screen, viewed May 2, 2006. Dissertation Committee: Patricia Klass (chair), Edward Hines, David Strand, Susan Winchip. Includes bibliographical references (leaves 78-82) and abstract. Also available in print.

This thesis provides a detailed analysis of the so-called `house money' or windfall endowment effect and its main determinants. Chapter 1 provides a detailed survey on the literature related to the house money effect. This effect according to Thaler and Johnson (1990) - refers to the situation where prior gains mitigate the influence of loss aversion and facilitate risk-seeking. The concept borrows its name from the expression employed in the gambling parlance of "playing with the house money", which is used when people gamble while ahead. As the literature has used a variety of concepts and ideas to describe the house money effect, this chapter presents and discusses them within the environment and the related literature that they have emerged. This is done in order to highlight the predominant answers to the main research questions raised in the various strands of the literature, namely: (i) whether people treat money differently depending on its origin; and (ii) the implications of the house money effect for the experimental methodology in economics. The literature is organised and presented according to the context in which the above two research questions have been examined. By presenting results in each particular context, we pin down the contextual differences that might be responsible for the presence (or absence) of the house money effect, and lay the initial ground work to answer a third research question: What drives the house money effect? In this regard, after we demonstrate the context-dependency of the house money effect we present the two main interpretations that it has received, namely that the house money effect is a result of different mental accounting over windfall gains (`windfall effect') or a result of fairness or deservingness concerns ('Lockean desert effect'). Chapter 2 re-examines the house money effect and explores its main driving forces. For that, we employ a novel experimental design utilising a within-subject approach, coupled with the use of three different contexts of economic decisions (a trust game, a set of lotteries and a public good game). Both the within-subject experimental design and the three contexts of economic decisions allow us to better test the two main interpretations of the house money effect. Our experimental data confirm the presence of the house money effect both in the decision to trust (but not in the decision of trustworthiness) in the trust game and in the decision to contribute in the public account of the public good game. However, our findings do not support the hypothesis that changes in risk behaviour of participants are due to different sources of money, suggesting that risk attitudes are robust and independent of the origin of money along the experiment. Therefore, our findings seem to favour interpretations of the house money effect as a result of 'just desert' or fairness preferences rather than the result of different mental accounting over windfall gains. Chapter 3 combines two branches of experimental literature, namely the house money effect and the literature on individual differences in social preferences. Both the house money effect and individual differences have been used extensively to explain cooperation in social dilemmas (and its decline over time). Here, we test the implications of house money on reciprocal behaviour, that is, whether participants in economic experiments are less likely to reciprocate when earned money rather than windfall money is at stake. Using the innovative experimental design of Fischbacher et al. (2001) with strategy method, we classify participants according to their behaviour in a linear public good game, and by adding the within-subject element in our experimental design we test the robustness of this classification across the different origin of endowments. Our results indicate that the types' classification is robust across the origin of money. Contrary to Harrison (2007), we find that participants' decision to free ride or not (contribute or not) is independent of the origin of money, but given that the decision to contribute has been made, contribution levels may vary -actually be lower- when money is earned rather than windfall endowed. We also elicit beliefs about others' contributions and test how these beliefs affected by the "house money" and in turn how they affect the decision to contribute. This discussion relates to what the literature has characterised so far as "anticipatory reciprocity".

Diploma thesis deals with topic of given phenomena of behavioural economics. Specifically, it deals with endowment effect, decoy effect and paradox of choice. The goal of the thesis is to verify influence of given phenomena of behavioural economics in practice. Research part deals with analysis of the phenomena which influence decision-making in financial or economic issues and causes individual to behave irrationally and not like Homo oeconomicus. In an analytical part are then given phenomena verified by method of quantitative analysis in real market on given company. Quantitative analysis deals predominantly with breakdown of customer reactions on marketing strategies of given company in defined period. Integral part of the thesis is based on executed research draw practical recommendations for examined company.

This thesis examines the possibility of retaining, redesigning, and integrating existing farm and forestlands within the proposed South Campus community development at the University of British Columbia (UBC). The central tenant of my thesis is, given the importance of agriculture in the development of human culture and the UBC Point Grey Campus, and the vital role it will play in the 21st Century, agricultural lands and facilities should be conserved and given a place of importance within the UBC landscape. An explanation is provided on how such an integrative proposal for these lands, collectively known as the UBC South Campus Farm, would support the economic, ecological, and social interests and expectations of the University, and the Greater Vancouver Regional District (GVRD), while providing an exciting learning and living environment for students, faculty staff and community members. An alternative proposal for the South Campus Farm and the South Campus community is provided that supports the stated interests of the University and the GVRD. This is accomplished through a careful assessment of the cultural and biophysical features of the South Campus lands and the subsequent development and application of a regenerative design process applied within a fourfold framework based on the concepts of ecology, economy, integrity and beauty. The final design proposal is compared and evaluated against the current situation and the University development plans. / Applied Science, Faculty of / Architecture and Landscape Architecture (SALA), School of / Graduate