Starting with the premise that realization utility theory helps explain trading behavior, this study combines a carefully crafted experimental design with functional magnetic resonance imaging technology to offer a more inclusive examination of factors that affect REIT trading behavior beyond whether a REIT is simply trading up or down. We add to the nascent field of neurological real estate by finding that local gains/loss domains are more relevant than are global gain/loss considerations, financial skewness is a significant determinant of trading behavior, and that performance inside the REIT market influences how hard subjects think when performing tasks outside the market. 相似文献
How do a firm’s internal capabilities and external partnerships contribute to its product and process innovativeness? How do their impacts differ? Based on the theoretical framework of exploitation and exploration, we develop an integrative model linking the impact of both internal capabilities and external partnerships on product and process innovativeness. Survey responses from Taiwanese biotechnology firms indicate that research and development (R&;D), marketing, and manufacturing capabilities have different effects on product and process innovativeness. Of the four types of external partnerships, only partnerships with universities and research institutes seem to add value, whereas partnerships with suppliers, customers, and competitors do not contribute to innovativeness. Moreover, marketing capability and customer partnerships have a positive interaction effect on product innovativeness, while manufacturing capability and supplier partnerships have a positive interaction effect on process innovativeness. 相似文献
Many takeovers occur after one-on-one negotiations, which suggests a troubling lack of competition. We seek to determine whether acquirers in such friendly deals are truly insulated from competitive pressures. We study two countervailing influences: (1) potential but unobserved latent competition, i.e., the likelihood that rival bidders could appear, and (2) anticipated auction costs when negotiations fail. Using various proxies, we find that latent competition increases the bid premium offered in negotiated deals and that auction costs reduce the premium. 相似文献
Effects of government investment are studied in an estimated neoclassical growth model. The analysis focuses on two dimensions that are critical for understanding government investment as a fiscal stimulus: implementation delays for building public capital and expected fiscal adjustments to deficit-financed spending. Implementation delays can produce small or even negative labor and output responses to increases in government investment in the short run. Anticipated fiscal adjustments matter both quantitatively and qualitatively for long-run growth effects. When public capital is insufficiently productive, distorting financing can make government investment contractionary at longer horizons. 相似文献
Electronic Data Interchange (EDI) is becoming increasingly important, and new organizational forms based on EDI suppliers’ capabilities are emerging. Therefore, taking advantage of recent technological changes, especially the development of Web-based EDI systems, many big industrial buyers are seeking to get all their suppliers EDI-connected. Based on previous research on EDI adoption, we conducted a survey to study the opportunities of success of such a “100% EDI-connected suppliers” policy using data from the vehicle industry. Findings from our survey helped us to understand suppliers’ responses to such a policy and to provide recommendations to industrial buyers who are seeking to succeed in a “100% EDI-connected suppliers” project. This includes employing tailored communication strategies and selecting appropriate incentives that take into account different levels of suppliers’ EDI-capabilities and suppliers’ dependence. 相似文献
This paper presents an efficient method for pricing discrete Asian options in presence of smile and non-proportional dividends. Using an homogeneity property, we show how to reduce an n0 dimensional problem to a one- or two-dimensional one. We examine different numerical specifications of our dimension reduced PDE using a Crank–Nicholson method (interpolation method, grid boundaries, time and space steps) as well as the extension to the case of non-proportional discrete dividends, using a jump condition. We benchmark our results with Quasi Monte-Carlo simulation and a multi-dimensional PDE 相似文献
Very little systematic research has focused on applying the concept of intellectual capital (IC) within the nonprofit context; particularly in the highly competitive nonprofit environment. Based on a review of the existing literature, this paper firstly contributes to filling this gap by building an argument that IC can be utilised as a competitive tool in nonprofit organisations (NPOs). Secondly, an IC conceptual framework is proposed that explicitly links the attainment of competitive advantage with positive outcomes for NPOs. Finally, the paper discusses how the IC conceptual framework can be effectively utilised to foster competitive advantage in the nonprofit sector.
Influential nodes play a critical role in boosting or curbing spreading phenomena in complex networks. Numerous centrality measures have been proposed for identifying and ranking the nodes according to their importance. Classical centrality measures rely on various local or global properties of the nodes. They do not take into account the network community structure. Recently, a growing number of researches have shifted to community-aware centrality measures. Indeed, it is a ubiquitous feature in a vast majority of real-world networks. In the literature, the focus is on designing community-aware centrality measures. However, up to now, there is no systematic evaluation of their effectiveness. This study fills this gap. It allows answering which community-aware centrality measure should be used in practical situations. We investigate seven influential community-aware centrality measures in an epidemic spreading process scenario using the Susceptible–Infected–Recovered model on a set of fifteen real-world networks. Results show that generally, the correlation between community-aware centrality measures is low. Furthermore, in a multiple-spreader problem, when resources are available, targeting distant hubs using Modularity Vitality is more effective. However, with limited resources, diffusion expands better through bridges, especially in networks with a medium or strong community structure.