We incorporate large losses risks into the DeM arzo et al.(2012) model of dynamic agency and the q theory of investment.The large losses risks induce losses costs and losses arising from agency conflicts during the la...We incorporate large losses risks into the DeM arzo et al.(2012) model of dynamic agency and the q theory of investment.The large losses risks induce losses costs and losses arising from agency conflicts during the large losses prevention process.Both of them reduce firm’s value,distort investment policy and generate a deeper wedge between the marginal and average q.In addition,we study the implementation of the contract to enhance the practical utility of our model.The agent optimally manages the firm’s cash flow and treats the cash reservation and credit line as the firm’s financial slack,and hedges the productivity shocks and large losses shocks via futures and insurance contracts,respectively.展开更多
This work explores the axiology of consciousness in Mocombe’s consciousness field in the material world.The paper critically assesses Mocombe’s consciousness field theory(CFT)within the larger body of contemporary o...This work explores the axiology of consciousness in Mocombe’s consciousness field in the material world.The paper critically assesses Mocombe’s consciousness field theory(CFT)within the larger body of contemporary ontological debates regarding the nature,origin,and constitution of consciousness in the universe.The work goes on to highlight the manifestation of Mocombe’s consciousness field in the material resource framework that is the earth,and the nature and origins of ethics and values.展开更多
Against behaviorism,humanism,and cognitive psychology,this work explores Mocombe’s antihuman psychology as a product of his consciousness field theory.The paper critically assesses Mocombe’s consciousness field theo...Against behaviorism,humanism,and cognitive psychology,this work explores Mocombe’s antihuman psychology as a product of his consciousness field theory.The paper critically assesses Mocombe’s consciousness field theory within the larger body of contemporary ontological debates regarding the nature,origin,and constitution of consciousness,especially human consciousness,vis-à-vis their relations to the psychological theories of behaviorism,humanism,and cognitivism,concluding that consciousness field theory posits an alternative psychological theory of the mind,i.e.,antihuman psychology,to behaviorist,humanist,and cognitivist conceptions of the mind.展开更多
基金Supported by the National Natural Science Foundation of China(11571310 and 71371168)
文摘We incorporate large losses risks into the DeM arzo et al.(2012) model of dynamic agency and the q theory of investment.The large losses risks induce losses costs and losses arising from agency conflicts during the large losses prevention process.Both of them reduce firm’s value,distort investment policy and generate a deeper wedge between the marginal and average q.In addition,we study the implementation of the contract to enhance the practical utility of our model.The agent optimally manages the firm’s cash flow and treats the cash reservation and credit line as the firm’s financial slack,and hedges the productivity shocks and large losses shocks via futures and insurance contracts,respectively.
文摘This work explores the axiology of consciousness in Mocombe’s consciousness field in the material world.The paper critically assesses Mocombe’s consciousness field theory(CFT)within the larger body of contemporary ontological debates regarding the nature,origin,and constitution of consciousness in the universe.The work goes on to highlight the manifestation of Mocombe’s consciousness field in the material resource framework that is the earth,and the nature and origins of ethics and values.
文摘Against behaviorism,humanism,and cognitive psychology,this work explores Mocombe’s antihuman psychology as a product of his consciousness field theory.The paper critically assesses Mocombe’s consciousness field theory within the larger body of contemporary ontological debates regarding the nature,origin,and constitution of consciousness,especially human consciousness,vis-à-vis their relations to the psychological theories of behaviorism,humanism,and cognitivism,concluding that consciousness field theory posits an alternative psychological theory of the mind,i.e.,antihuman psychology,to behaviorist,humanist,and cognitivist conceptions of the mind.
