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81.
82.
Emmanuel Raynaud Paula Sarita Bigio Schnaider Maria Sylvia Macchione Saes 《Journal of economic surveys》2019,33(4):1151-1172
Why do firms concomitantly rely on more than one organizational arrangement to procure/distribute a given input/product? In this paper, we systematically review and discuss the extensive path undergone by the literature exploring this issue: the so‐called plural forms. We address two main questions: how to explain the coexistence (and often the prevalence) of plural forms in many types of businesses? Are plural forms stable or a transitory phenomenon? We describe the most prominent motivations identified in the economics and management literature that drive firms to adopt plural forms and show that their vast majority are related to the mitigation of various types of agency/transaction costs. We also demonstrate that most of the available pieces of empirical evidence suggest the stability of plural forms over time. We conclude by demonstrating the path that has been trailed by the most recent developments. 相似文献
83.
Africa has the largest number and proportion of fragile states in the world. Fragile states are characterized by slower economic growth, higher incidences of poverty, and persistent inequality. Thus, there is a circular relationship between fragility, inequality, and slow economic growth. This study examines the relationship between fragility, financial inequalities, and inclusive growth in African countries. We introduce a novel way of examining inclusive growth in African countries by developing a unified measure of inclusive growth that captures the two dimensions of inclusive growth: income growth and income distribution. This enables us to adequately assess not just increased opportunities arising from economic growth, but also see how those new opportunities are distributed across all segments of the population. We captured the fragile status of African countries by using an index of fragility. We measured financial inequalities using new data on financial inclusion. The data analysis suggested negative relationships between fragility and inclusive growth in African countries. In addition, the results suggest positive relationships between financial inclusion and inclusive growth. Thus, inclusive growth can be fostered through policies that reduce financial inequalities. Therefore, a less fragile environment is conducive to inclusive growth both directly and indirectly through financial inclusion. 相似文献
84.
In sub-Saharan Africa, livestock is one of the key channels through which most households meet their food security needs. However, diseases such as the African Animal Trypanosomosis (AAT) constrain productivity. Using data from 445 randomly sampled small-scale cattle farmers, this paper investigates the role of integrated livestock disease control on household food security. Using a novel approach to link different food security measures to cattle productivity, the paper identifies the channels of impact at the household level. Methodologically, the paper estimated the propensity score matching algorithm to net out the effect of adoption. The results show that households who adopt RDU have record livestock productivity and higher consumption per capita expenditures. They tend to be more food secure, experience lower seasonal food supply fluctuations and experience a lower probability of falling below the food poverty line. 相似文献
85.
Emmanuel K. K. Lartey 《Review of Development Economics》2011,15(3):556-568
This paper studies the relationship between the degree of financial openness and Dutch disease effects of capital inflows in developing countries. The results reveal that an increase in financial openness leads to an appreciation of the real exchange rate. In particular, the study shows that an increase in inflow of foreign direct investments (FDI) results in an appreciation of the real exchange rate in more financially open countries only. The results also suggest that there is a trade‐off between the resource movement effect and the spending effect in more financially open economies following an increase in FDI inflows, such that the more the tradable sector expands relative to the nontradable sector, the greater is the real exchange rate appreciation. 相似文献
86.
87.
Drawing from the resource-based theory of the firm, we develop a conceptual framework to show how organizational learning helps companies build a set of embedded knowledge assets (core competencies). The evolution of the core competencies over time depends on the ability of the firm to maintain a high level of organizational learning. In this article, we take the case of the French nuclear industry to illustrate how the most powerful French electricity producer and supplier, EDF, had succeeded, for 20 years, in building a core competence in nuclear risk and crisis management. Referring to the future deregulation of the European electricity market and the fierce competition of substitute resources of energy, the article shows that nuclear safety is a crucial issue for the survival of EDF and the European nuclear industry. We explore how EDF has learned from Three Mile Island in 1979 and Chernobyl in 1986 to improve and enrich continuously its core competence in risk and crisis management. We distinguished three phases in the learning process of EDF: the technical phase (1977–1982), the human phase (1982–1989), and the cultural phase (1989–1995). Each phase is analyzed as a step toward a greater awareness of the multidimensional nature of risk and crisis management. 相似文献
88.
This paper examines the feasibility of collusion in capacity constrained duopoly supergames. In each period firms simultaneously
set a price–quantity pair specifying the price for the period and the maximum quantity the firm is willing to sell at this
price. Under price–quantity competition firms are able to ration their output below capacity. For a wide range of capacity
pairs, the equilibrium path providing the smaller firm with its highest stationary perfect equilibrium payoff requires that
it undercut its rival’s price and ration demand. Furthermore, for some capacities and discount factors supporting security
level punishments, price shading and rationing arise everywhere on the set of stationary perfect equilibrium paths yielding
(constrained) Pareto optimal payoffs. That is, price shading may not only be consistent with optimal collusion, it may be
a requirement of optimal collusion. 相似文献
89.
This paper uses three-way and sociometric data to reconstitute individual conceptions of peer-driven intervention for the protection of common resources in a collegial organization, a Northeastern corporate law firm. Variations in partners' individual conceptions are explained in terms of management of costs of lateral control. Costs of control are mainly expressed as costs to members in terms of social capital. Management of such costs includes spreading or concentrating them among partners, shifting them to others or bearing them oneself, and using similarities among others to smooth the control process among peers. Leverage styles are identified. They tend to combine various ways of spreading and shifting such costs, and characterize three levels of seniority. Seniority appears to be a key variable for a theory of unobtrusive protection of common resources among peers. 相似文献
90.
In contrast with the classical models of frictionless financial markets, market models with proportional transaction costs,
even satisfying usual no-arbitrage properties, may admit arbitrage opportunities of the second kind. This means that there
are self-financing portfolios with initial endowments lying outside the solvency region but ending inside. Such a phenomenon
was discovered by M. Rásonyi in the discrete-time framework. In this note, we consider a rather abstract continuous-time setting
and prove necessary and sufficient conditions for a property which we call no free lunch of the second kind, NFL2. We provide a number of equivalent conditions elucidating, in particular, the financial meaning of the property B which appeared as an indispensable “technical” hypothesis in previous papers on hedging (superreplication) of contingent
claims under transaction costs. We show that it is equivalent to another condition on the “richness” of the set of consistent
price systems, close to the condition PCE introduced by Rásonyi. In the last section, we deduce the Rásonyi theorem from our general result by using specific features
of discrete-time models. 相似文献