We study the role of outside directors in defined benefit pension plan freezes, where the interests of shareholders are in apparent conflict with the interests of firm employees. We examine the effect of independent directors ...

This chapter discusses the trade-off between commitment and flexibility in sequential investment settings. The focus is on two-stage competition models where real options analysis tools are combined with industry organization ...

We develop scenario-based stochastic programming models for hedging the risks of international portfolios using options. The models provide an increasing level of integration in managing market and foreign exchange (FX) ...