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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. 相似文献
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WHAT MAKES RURAL FINANCE INSTITUTIONS SUCCESSFUL? 总被引:4,自引:0,他引:4
Providing affordable credit to the rural population has longbeen a prime component of development strategy. Governmentsand donors have sponsored and supported supply-led rural financeinstitutions both to improve growth and equity and to neutralizeor mitigate urban-biased macroeconomic policies. But becauseof high risks, heavy transaction costs, and mounting loan losses,many of the programs have drained state resources to littlepurpose, reaching only a small part of the rural populationand making little progress toward self-sustainability. There are, however, a few success stories. This article reviewsthe policies, modes of operation, incentives, and financialperformance of four publicly sponsored programs in Asia thatare widely perceived to be successful, to find out what economic,social, and institutional factors contributed to their success. 相似文献
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A striking feature of U.S. data on income and consumption is that inequality increases with age. This paper asks if individual-specific earnings risk can provide a coherent explanation. We find that it can. We construct an overlapping generations general equilibrium model in which households face uninsurable earnings shocks over the course of their lifetimes. Earnings inequality is exogenous and is calibrated to match data from the U.S. Panel Study on Income Dynamics. Consumption inequality is endogenous and matches well data from the U.S. Consumer Expenditure Survey. The total risk households face is decomposed into that realized before entering the labor market and that realized throughout the working years. In welfare terms, the latter is found to be more important than the former. 相似文献
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Risks for the Long Run: A Potential Resolution of Asset Pricing Puzzles 总被引:11,自引:0,他引:11
We model consumption and dividend growth rates as containing (1) a small long‐run predictable component, and (2) fluctuating economic uncertainty (consumption volatility). These dynamics, for which we provide empirical support, in conjunction with Epstein and Zin's (1989) preferences, can explain key asset markets phenomena. In our economy, financial markets dislike economic uncertainty and better long‐run growth prospects raise equity prices. The model can justify the equity premium, the risk‐free rate, and the volatility of the market return, risk‐free rate, and the price–dividend ratio. As in the data, dividend yields predict returns and the volatility of returns is time‐varying. 相似文献
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Yaron Yehezkel 《The Rand journal of economics》2008,39(1):115-143
This article considers vertical relations between an upstream manufacturer and a downstream retailer that can independently obtain a low‐quality, discount substitute. The analysis reveals that under full information, the retailer offers both varieties if and only if it is optimal to do so under vertical integration. However, when the retailer is privately informed about demand, it offers both varieties even if under vertical integration it is profitable to offer only the manufacturer's product. If the manufacturer can impose exclusive dealing, then under asymmetric information it will do so and foreclose the low‐quality substitute even if under vertical integration it is profitable to offer both varieties. 相似文献
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Dvir Shabtay Yaron Bensoussan Moshe Kaspi 《International Journal of Production Economics》2012,136(1):67-74
We analyze a two-machine flow-shop scheduling problem in which the job processing times are controllable by the allocation of resources to the job operations and the resources can be used in discrete quantities. We provide a bicriteria analysis of the problem where the first criterion is to maximize the weighted number of just-in-time jobs and the second criterion is to minimize the total resource consumption cost. We prove that although the problem is known to be NP-hard even for constant processing times, a pseudo-polynomial time algorithm for its solution exists. In addition, we show how the pseudo-polynomial time algorithm can be converted into a two-dimensional fully polynomial approximation scheme for finding an approximate Pareto solution. 相似文献
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We consider the design of decision rules in an environment with two alternatives, independent private values and no monetary transfers. The utilitarian rule subject to incentive compatibility constraints is a weighted majority rule, where agents' weights correspond to expected gains given that their favorite alternative is chosen. It is shown that a rule is interim incentive efficient if and only if it is a weighted majority rule, and we characterize those weighted majority rules that are ex ante incentive efficient. We also discuss efficiency in the class of anonymous mechanisms and the stability of weighted majority rules. 相似文献
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This article focuses on the impact of religious institutions on entrepreneurship. We find clear evidence that different religious institutions have a significantly different impact on the tendency to become an entrepreneur. Our article makes important contributions to the research of both religion and entrepreneurship. First, it proposes empirical evidence in which the country’s main religion significantly affects its level of entrepreneurship at the macro level. Second, it adds to our theoretical understanding of the mechanisms that characterize the effects of religion on entrepreneurship. We suggest that macro effects of religion as part of the country’s culture and institutions affect the country’s level of entrepreneurship beyond the direct effects of religion on the behavior of the religion’s members in the society. 相似文献