Repricing and Executive Turnover

We examine whether the threat of executive turnover faced by a firm affects its decision to reprice stock options held by its executives. We estimate a model of voluntary turnover among top executives and show that the predicted turnover from this model is positively related to the probability of repricing. The relationship is robust to the inclusion of several known determinants of repricing. Our results are consistent with a model in which a tight labor market makes executives hard to replace, forcing firms to reprice stock options when they go underwater.     

Retailing in the 21st century: reflections and prologue to research

Retailing in the 21st century will no doubt be very different from retailing in the 20th century, just as retailing in the 20th century was very different from retailing in the 19th century. To understand and explain current retailing phenomena and retailing-related phenomena, and accurately predict such phenomena, it is necessary to have a coherent and consistent definition of retailing as well as comprehensive retailing theories based on this definition. This introduction to the special issue argues for such a definition and related comprehensive theories.     

Toward a telework taxonomy and test for suitability: A synthesis of the literature

The current merging of computer and communications technologies is facilitating the trend towardtelework-remote work arrangements enabled by information technology. Organizations today have ever increasing options in the management and distribution of their work processes. In this study, we review the research on telework conducted in the United States, Western Europe, and Japan. We then propose a taxonomy for classifying different types of telework. Using this taxonomy, we examine the spatial, coordination, and temporal structures of different types of telework.Previous research results indicate that the introduction of telework is a complex process and has profound implications for the organization. However, this research critically lacks any guidance for the decision maker in determining the feasibility of implementing telework. We propose a framework for a telework suitability test to determine the appropriateness of telework, in a particular situation. This telework suitability test integrates existing research findings with future research areas.     

Toward understanding strategic issue diagnosis

This paper calls attention to a central but neglected process in strategic decision making, i.e. strategic issue diagnosis (SID). A framework for discussing SID is presented in terms of three critical components: inputs, process characteristics and outputs. The framework is illustrated in the context of PIMS and BCG, two widely recognized strategy models. The major implications highlight the theoretical significance of SID for understanding strategic decision making.     

An Empirical Examination of Tax Factors and Mutual Funds' Stock Sales Decisions

We examine whether taxes affect stock sales by mutual funds. For certain funds, the expected amount of a given stock sold in a given quarter is 62% greater when liquidation would trigger a capital loss equal to 1% of the value of the portfolio than when a like-size gain would be triggered, a greater effect than is associated with either contemporaneous excess stock returns of 50% or unexpected EPS equal to 50% of the stock price. For growth funds, responses to tax factors are consistent from year to year, and dispositions vary with the year-to-date realized gain.     

Exploring the implications of m-commerce for markets and marketing

Business pundits have enthusiastically prognosticated about a seamless, mobile world where commerce occurs on an anywhere, anytime basis. This type of commerce has been referred to as mobile commerce or, more simply, m-commerce. However, there have been relatively few attempts to systematically explore the opportunities and challenges posed by m-commerce. This article investigates the implications of m-commerce for markets and marketing by means of a formal conceptualization of m-commerce, a space-time matrix that delineates the impact of mobile technologies, and a taxonomy of m-commerce applications. Sridhar Balasubramanian is assistant professor of marketing at the University of North Carolina at Chapel Hill. His interests generally lie in the areas of marketing strategy, e-business, and game theory. He has published in such journals asMarketing Science, Journal of Retailing, andJournal of the Academy of Marketing Science. His doctorate is from Yale University. Robert A. Peterson holds the John T. Stuart III Centennial Chair in Business Administration and Charles C. Hurwitz Fellowship at The University of Texas at Austin. He is a former editor of theJournal of Marketing Research and theJournal of the Academy of Marketing Science. His more than 150 publications include nearly one dozen books and award-winning articles. Sirkka L. Jarvenpaa holds the James L. Bayless/Rauscher Pierce Refsnes Chair in Business Administration at the McCombs School of Business, University of Texas at Austin, where she codirects the Center for Business, Technology & Law. She presently serves as the editor ofJournal of the Association for Information Systems. She is a founding member of the Global Round Table on Mobile Commerce Research, which held its inaugural meeting in Tokyo in May 2002.     

Financial contracts,opportunism, and disclosure management

This article shows that if all variables that determine a firm's future cash flows are not contractible, it can be ex ante optimal to design a financial contract that admits debtholders waiving debt covenants on a discretionary basis and firms investing opportunistically subsequent to contracting. Further, as the contractible variable becomes less informative, the contract attaches greater significance to it. Finally, uncertainty in the magnitude of reporting latitude induces aggressive reporting by the firm to avoid violating the covenant or to enhance the chances of a waiver. The debtholders respond by sometimes not allowing the firm to implement mutually beneficial projects.     

Farm Level Models: A Review of Developments, Concepts and Applications in Canada

Development and use of farm-level models has been a major activity of agricultural economists in Canada during the past twenty-five years. In this paper, a review is made of the major contributions of Canadian agricultural economists to farm-level modelling. These activities are interpreted in the context of emerging competition technologies as well as improved understanding of farm-level decision making.
L'élaboration et I'application de modèles d'analyse agro-économique à I'échelle de I'exploitation agricole individuelle ont été une activité importante des économistes agricoles du Canada au cours des vingt-cinq dernières années. Les auteurs passent en revue les contributions importantes du Canada dans ce domaine et les interprètent en regard des nouvelles technologies de concurrence, de même que de la meilleure compréhension des mécanismes de prise de décision chez I'exploitant agricole.