Impact on Firm Liquidity Arising from Outsourcing Decisions as Evidenced by Off-Balance-Sheet Disclosures

International Advances in Economic Research - Based on transaction-cost and resource-based theories (and other approaches), there is an extensive literature on the range of factors that are viewed...     

A social identity perspective of social media's impact on satisfaction with life

Social media platforms have become an (almost) obligatory part of our lives and activities. However, many disadvantages have emerged such as an increase in dependency on social media owing to addictions known as the dark side of social media. The current research seeks to understand the impact of specific aspects of this dark side, viz. social media addiction, fear of missing out, and narcissism, on self-esteem, and their links with an individual's satisfaction with life (SwL). The results of a quantitative survey (n = 260) show the salient impact of these aspects on self-esteem as well as the preponderant role of collective self-esteem in SwL. Academic and managerial implications are discussed.     

Platform Competition With Cash-Back Rebates Under No Surcharge Rules

We analyze competing strategic platforms setting fees to a local monopolist merchant and cash-back rebates to end users, when the merchant may not surcharge platforms’ customers, a rule imposed by some credit card networks. Each platform has an incentive to gain transactions by increasing the spread between its merchant fee and user rebate above its rival's spread. This incentive yields non-existence of a pure strategy equilibrium in many natural environments. In some circumstances, a mixed strategy equilibrium exists where platforms choose fee structures that induce merchants to accept only one platform with equal probability, a form of monopolistic market allocation.     

Cost and learning efficiency drivers in Australian schools: a two-stage network DEA approach

This article explore performance issues in Australian public schools, using a two-stage DEA network model, which accounts simultaneously for both cost and learning efficiency levels. In the cost efficiency stage, different types of expenses and investments are employed to support a given number of students, teachers and administrative staff. In the learning efficiency stage, these groups of individuals help to produce important outputs related to performance in student tests and school rankings. Results indicate that Australian public schools are heterogeneous. Policy implications are also discussed.     

Continuity Under a Different Name: The Outcome of Privatisation in Serbia

Normally, privatisation is seen as beneficial. This paper considers the case of Serbia – a latecomer in the matter – where privatisation was partly a result of exogenous pressures and where the process has been deemed a failure. In Serbia, a sizeable number of privatised firms were bought by bureaucrats and politicians and all firms were subjected to a period of supervision. We argue that the design of this process allowed rent-seekers to conserve their privileges through asset-stripping, which explains the failure. In order to do so, we perform an empirical analysis of the determinants of liquidation, merger and bankruptcy of privatised firms from 2002 to 2015. We construct a novel data set from primary sources, free of the ‘survivorship bias’ and containing proxies for various types of owners, indirect signs of asset-stripping strategy and a broad range of controls. Our results indicate that firms owned by politicians faced significantly higher risks of bankruptcy, especially after the end of supervision.     

An Approach to a Visual Language for Convective Fluid Flows: Visualization of Geophysical Simulations

It was known that deep within numbers and binary data from simulations of geophysical convective flows resided various patterns. Two models of convective fluid flows were being considered. One was a model of two-dimensional (768 × 256) air convection with finite Prandtl number of one and Rayleigh number of 10⁸?10¹⁰, and another was a model of three-dimensional (up to 120 × 120 × 90) mantle convection with infinite Prandtl number and Rayleigh number of 10⁶?10⁸. Clearly, phenomena existed which superceded each individual dimensionless computer model to provide a piece of information regarding actual fluid flows. The problem was how to find, prove, and communicate these patterns and phenomena for convection simulations with gigabytes of data. In a search for such an analytical and communicative tool, the alternative of visualization was considered. The need for visualization was recognized and discussed. Then, utilizing both two- and three-dimensional models of high Rayleigh number convection, basic techniques of style and content were developed. Applications of the visualization techniques were designed utilizing IBM’s Data Explorer in order to create communicative images and movies, and after the applications, the problems of data storage and transfer became apparent. Throughout the process though, it became clear how important the language of vision actually could be in the geophysics community. In a field in which words such as plumes and internal waves have in ways replaced mathematics as the basic language for science, there is a need for another resource, another language-the visualization of convective fluid flows.     

Profit sharing and strike activity in Cournot oligopoly

Within an incomplete-information framework, we develop a model of wage determination in a unionized Cournot oligopoly. The assumption of incomplete information allows the possibility of strikes or lockouts, which waste industry potential resources, at equilibrium. Facing such deadweight loss, the government or the social planner may decide to adopt a policy, such as a profit-sharing scheme. Under two different bargaining structures (firm level vs. industry level), we investigate the effects of adopting profit sharing on the wage outcome and the strike activity. If the base-wage bargaining takes place at the industry level, then the introduction of a profit-sharing scheme increases the strike activity. But if the base-wage bargaining takes place at the firm level and the number of firms in the industry is greater than two, then the introduction of a profit-sharing scheme reduces the strike activity.     

Rationalizability and equilibrium in N-person sequential bargaining

Summary. This paper deals with N-person sequential bargaining games with complete information. For N-person sequential bargaining games, uniqueness of the SPE has been obtained by allowing the players to exit with partial agreements. Adopting a non-equilibrium approach, we show that N-person sequential bargaining games with exit are solvable by a refinement of rationalizability for multi-stage games (trembling-hand rationalizability) whatever the impatience of the players. That is, once we adopt the non-equilibrium approach, the exit opportunity still fulfils its original aim: we achieve a unique solution by introducing the exit opportunity. Moreover, this unique solution is the unique SPE. Received: October 30, 1996; revised version: July 7, 1998     

Why Small Enterprises Can (Still) Operate at the Top of the Pyramid? Evidences and Interstices' Theory in the Automotive Industry

The paper questions the widely accepted vision of an automotive supply chain with a very pyramidal structure that works to mega suppliers' benefit. Mobilizing an original survey of 750 French SMEs, we show that SMEs can still operate at the very top of the pyramid and that the different tiers remain porous. The first section explains why the modularization of the automotive industry has led to a pyramidalization of supply chains, enabling the emergence of mega suppliers. The second section shows how some SMEs are still able to rise to the top tier of the supply chain, a process explained in the third section. Using the notion of interstices initially formulated by Penrose, an explanation is provided as to why mega suppliers leave certain market spaces unoccupied, with SMEs subsequently filling in the gaps. The ensuing analytical grid then leads to a conclusion that will highlight two main managerial and political implications.     

A study of the non‐economic determinants in tourism demand

Traditionally, many studies have attempted to use economic demand models. This paper stresses on the influence of non‐economic factors on tourism demand. Some researchers have suggested that tourists from different origins have various cultural and nationalistic backgrounds, and they may interpret visual imagery and experiences differently. Aligning with this suggestion, we have investigated different underlying factors of tourism demand from four continents (Asia, the Americas, Europe and Oceania). Statistical data are collected from international organisations and 135 countries were covered. Our results showed that there are differences and similarities among the factors in determining the tourism demand. Copyright © 2009 John Wiley & Sons, Ltd.