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1.
This paper describes and analyzes the implementation of a crawling exchange rate band on an electronic trading platform. The placement of limit orders at the central bank's target rate serves as a credible policy statement that may coordinate beliefs of market participants. We find for our sample that intervention increases exchange rate volatility (and spread) for the next minutes but that intervention days show a lower degree of volatility (and spread) than non-intervention days. We also show for intraday data that the price impact of interbank order flow is smaller on intervention days than on non-intervention days. These stabilizing effects, however, rely on the conditions of large currency reserves and the existence of capital controls; an electronic market seems to support this goal. 相似文献
2.
As a subset of the international business literature, cross-border equity based partnerships have drawn significant academic attention. In the context of inter-firm partnerships, the power dynamics between parties and the implications that power has on the relational dynamics between firms is an important consideration. Research that connects power with network theory has recently emerged, suggesting that the network, as a source of power, plays a significant role in inter-firm dynamics. Yet, while there has been a substantial body of work either articulating the antecedents and consequences of power, little research has paid attention to the role that power plays in international JV formations; this presents a significant gap in the international business literature. Consequently, this study investigates the role that global network structure plays in the formation of new equity based international partnerships. Secondly, it contributes to the international JV literature by developing and testing a theoretical framework that examines inter-firm power dynamics as derived from the network position of each firm in the global network. Global network prominence, brokerage and weakness are key factors utilized in the analysis. The hypotheses are tested using a global manufacturing joint venture longitudinal dataset that contains 985,689 observations from 1985 to 2003. The results of the event history analysis indicate that for the manufacturer global network prominence, brokerage and weakness play an important role in new joint venture formations. On the other hand, only global network prominence is a significant factor for the potential partner. 相似文献
3.
《Business History》2012,54(1):120-149
This paper presents an analysis of some major historical trends in inter-firm R&D partnering in the international software industry during the period 1970–1999. Our research demonstrates an overall growth pattern of newly made R&D partnerships and reveals the important role played by leading firms. We also examine the emergence of various R&D networks in the software industry, indicating the change from sparse and disconnected inter-firm R&D networks to dense and well-connected networks since the second half of the 1980s. 相似文献
4.
While cognitive, affective and behavioral consequences of service recovery have been extensively explored in the literature, the role of co-creation is mostly neglected. Most efforts dedicated to investigating co-recovery are limited to cognitive and behavioral factors. Furthermore, most of the recent studies explored co-recovery on western and eastern cultures, ignoring the role of ethnics in countries with different sub-cultures. This study aims to discover all possible factors on service recovery procedure, focusing specifically on effects of co-creation. Thus, a 2(distributive justice: high/low)×2 (interactional justice: high/low)×2(procedural justice: high/low)×2(co-creation: yes/no)×2(ethnics Azerbaijani vs. Baluch) between-subjects factorial design experiment was performed. A sample of 977 Iranian mobile banking customers participated in the study. Results of Structural Equation Modeling (SEM) indicate that most cognitive, affective and behavioral factors were supported by predictors. In addition, Multi-group SEM reveal that co-creation increases effects of most positive nature variables except negative emotions which is conceptualized as negative nature factor. The results of cultural differences indicate that Azeri people are more intended to participate in co-creation programs, whereas Balochs are more loyal due to higher level of reuse intentions. 相似文献