Defending a Domestic Position Against Global Entries

ABSTRACT

The article offers a systematic review of strategic options available to incumbents coping with threats and attacks by a global firm. The framework makes it possible to review and analyze action alternatives based on the entry stage, the attack focus, and defense tactics. Even though the globalization process has exposed domestic incumbents to greater threats, incumbents' options have also increased. The doors of trade liberalization swing both ways. Opportunities for collaboration increase while anti-globalization movements and national patriotism can be mobilized for effective defense. The framework presented in this article builds on existing strategic theories and concepts in addition to published case studies. It offers a flexible and dynamic approach for reviewing alternative strategies for implementation and research.     

A PATCHWORK SAFETY NET: A SURVEY OF CLIOMETRIC STUDIES OF INCOME MAINTENANCE PROGRAMS IN THE UNITED STATES IN THE FIRST HALF OF THE TWENTIETH CENTURY

Abstract Social welfare programs in the USA are designed to serve as safety nets for people in hard times, in contrast with the universal approach found in many other developed western nations. In a survey of cliometric studies of social welfare programs in the USA, we examine the variation in the safety net in the USA across states in the 20th century, the determinants of the variation and its impact on socioeconomic outcomes. The USA has always displayed substantial variation in the extent of the safety net because the features of most public social welfare programs have been and currently are determined by local and state governments, even after the federal government became involved in the 1930s. Differences across states persist strongly for typically a decade, although the persistence weakens with time, and there are some periods when federal intervention led to a re‐ordering. The rankings of state benefits differ from program to program, and economic and political factors have different weights in determining benefit levels in panel data estimation of their effects. Variation in benefits across programs during the early 1900s had significant impact on labour markets, economic activity, family formation, death rates and crime.     

Human development and alcohol abuse in adolescence

This article gives some exploratory results from estimating a consumer surplus type equation which features a number of economic and demographic variables as regressors. We calculate an income elasticity for the maximum surplus that individuals would ever perceive themselves to be getting by being allowed to buy at a set price. The results also show that those who attend the cinema are significantly less inclined to generate a surplus in flexible price events markets whilst young adults offer to pay quite a large amount more for their heavily desired entertainment. This suggests that part of the burden of a shift in ticket pricing methods may be borne by the parents of young adults.     

DISPOSITION EFFECT AND PUBLIC SECONDARY EQUITY OFFERINGS

Shareholders selling shares in public pure‐secondary equity offerings are affected by the disposition effect and tend to sell past winners. Selling shares in these offerings is associated with significant indirect offer costs. On average, shares are offered at a 5.5% discount from the market price. Moreover, shares of offering firms are about 8% underpriced. Offer discounts and underpricing are positively related to the proxy for the disposition effect. Our findings are consistent with the proposition that the disposition effect increases the supply of winning stocks and depresses their prices.     

Bribery and inspection technology

The e-government movement advocates increased use of technology to improve government efficiency and reduce corruption by reducing the discretionary power of government officials. This paper studies the relationship between improvements in inspection technology within a Principal-Supervisor-Agent model, where the supervisor is an inspector who is hired by the principal to investigate the agent’s potentially illegal actions. We show that when technology increases the marginal or total productivity of the supervisor’s effort, improvements in inspection technology encourage some types of bribery. Although such technological improvements induce an equilibrium with bribery, compliance and social welfare can still rise. However, when technology and supervisory effort are sufficiently substitutable, improvements in technology may reduce compliance when bribery occurs in equilibrium even when those same technological improvements would have raised compliance in the absence of bribery. We also characterize the relationship between the principal’s socially optimal technology and the anti-corruption policy available to the principal and find that the socially optimal inspection technology may be a substitute for or a complement to the anti-corruption policy. Finally, we show that for any set of policies that optimally induces a no-bribe equilibrium, there exists another set of policies that induces an equilibrium with bribery that is pareto superior to it.     

Institutional dimensions and conflict resolution strategy in international joint ventures: An empirical examination

This study examines the impact of the host‐country institutional structures on the choice of conflict resolution strategy in the international joint venture (IJV). Using the survey method and relying on multiple regression, we demonstrate that there is a statistically significant relationship between institutional pillars and the choice of conflict resolution strategy in the international joint venture in the context of Ghana. In particular, we demonstrate that legalistic and forcing conflict resolution strategies are influenced by the regulative institutional pillar, while compromising and problem‐solving conflict resolution strategies are impacted by normative and cognitive institutional pillars. The multigrouping analysis results show that the views and the choice of foreign partners on conflict resolution strategy differ from that of the local partners to the IJV. This study fills the gap by empirically testing the conflict resolution strategies of firms in relation to the role of regulative, normative, and cognitive institutional pillars of the host country.     

Sharecropping was sometimes efficient: sharecropping with compensation for improvements in European viticulture†

There is no consensus among specialists in agricultural contracts over whether the long‐term inefficiencies that classical economists attributed to sharecropping actually exist. This article maintains that they do exist and are partly caused by the fact that sharecropping is hardly compatible with the tenant being compensated for improvements, viticulture being the main historical exception. In line with recent contributions to the sharecropping literature, the article contends that the widely held belief among scholars of agricultural contracts that sharecropping was very frequent in Europe's vineyards is incorrect. However, it also provides evidence of an issue whose importance has gone largely unnoticed: prior to the twentieth century, many of the European vineyards worked by sharecroppers had been created by the sharecroppers themselves, through contracts which entitled them to compensation. Those contracts abounded while viticulture depended basically on two inputs, land and labour. When viticulture became a heavy consumer of capital, they were rapidly abandoned, but not in Catalonia, with a paradoxical result: the Catalan rabassa morta contract, which for centuries had made it possible to eliminate both the long‐ and short‐term inefficiencies of sharecropping, ended up becoming an obstacle to overcoming the short‐term inefficiencies. The article discusses why that happened.     

Communication, correlation and cheap-talk in games with public information

This paper studies extensive form games with public information where all players have the same information at each point in time. We prove that when there are at least three players, all communication equilibrium payoffs can be obtained by unmediated cheap-talk procedures. The result encompasses repeated games and stochastic games.     

A curriculum model for IT infrastructure management in undergraduate business schools

As information technology infrastructure becomes strategic to organizations, the author examines business-school programs that educate future infrastructure analysts. Information systems (IS) 2010 and information technology (IT) 2008 curriculum models are used to survey courses required by telecommunications and IT infrastructure programs in business schools. Of 525 Association to Advance Collegiate Schools of Business–accredited schools, 259 have IS/IT programs and 18 have telecommunications and infrastructure-related programs. IT Infrastructure, Networking-Advanced, and IT Security are the top three infrastructure-related courses. Programs also require courses including IS Project Management; Social and Professional Issues; and IS Strategy, Management and Acquisition. Data collected are used to develop a new curriculum model of IT infrastructure management program that can be offered by business schools.