Essays on firm optimal decision-making through a life-cycle and the residual momentum = 기업의 최적화 의사결정에 따른 생애주기 및 잔차모멘텀 전략에 관한 연구

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We address a typical life-cycle of a value-maximizing firm: a firm becomes more-structured firm under optimal growth option choices. First we suggest a mutual-learning model of a structured organization. More structured organization is slow to innovate under fast changing environment. Under an intuitive assumption that operating costs increase in an increasing rate with organization size, we regenerate a typical life-cycle of successful companies: fast innovation in early age, growing in size, and more structured organization in a later stage. We also estimate the residual momentum strategy in the Korean stock market and compare its performance with the Jegadeesh and Titman (1993) momentum strategy.
Advisors
Kang, Jangkooresearcher강장구researcher
Description
한국과학기술원 :경영공학부,
Publisher
한국과학기술원
Issue Date
2019
Identifier
325007
Language
eng
Description

학위논문(박사) - 한국과학기술원 : 경영공학부, 2019.2,[iv, 65 p. :]

Keywords

Real option▼alearning▼ainnovation▼aorganization structure▼adynamic capability▼aresidual momentun; 실질옵션▼a조직학습▼a혁신▼a조직구조▼a동적역량▼a잔차모멘텀

URI
http://hdl.handle.net/10203/264415
Link
http://library.kaist.ac.kr/search/detail/view.do?bibCtrlNo=844678&flag=dissertation
Appears in Collection
MT-Theses_Ph.D.(박사논문)
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