Optimal self-financing microfinance contracts when borrowers have risk aversion and limited commitment

This paper examines optimal lending contracts between a single not-for-profit lender and a continuum of risk-averse borrowers, where the lending relationships are continually created and destroyed.  The lender self-finances its costs via income from loans, while borrowers can walk away from the current relationship in any period and search for a new relationship.  We characterize the optimal allocation by formulating the lender’s problem of maximizing social welfare and by resorting to a variational argument that takes into account the limited commitment problem and the endogenous outside option values of the borrowers.  In the benchmark case of the Benthamite social welfare function, we find that the optimal stationary allocation exhibits novel consumption dynamics: Borrower consumption begins at a relatively low level, converges toward a particular level when the participation constraint is slack, and jumps up when the participation constraint binds.  We then explore the role of limited commitment in generating such consumption dynamics and discuss the associated repayment profile.     

Businesspeople: Academics need your help to make business research relevant

In the last two decades, industry-university collaborations (IUCs) in research and development in the hard sciences have become increasingly more successful and common. In contrast, successful IUCs in softer social sciences, such as business, remain relatively uncommon. But business research requires an even higher degree of collaboration than research in the hard sciences if its results are to be relevant to businesspeople. Fortunately, business academics are becoming more and more interested in collaborating with businesspeople. The purpose of this article is to motivate businesspeople to collaborate as well. We do this by showing the businessperson the historical origins of business research’s irrelevance, by describing the benefits the business world could receive from collaborative research, by showing why collaboration is especially needed in social sciences such as business, and by showing why academics cannot do relevant business research without practitioners’ help. Specifically, we will show that the businessperson’s help is needed to ensure that their priorities are met, to formulate the right research questions, to provide relevant data, and to contribute their problem-solving inventiveness.     

Selecting optimal intermediary channels in emerging markets: The case of Vietnamese toiletries

Abstract

Domestic distribution in Vietnam is characteristic of an emerging market in the beginning stages of modernization, with frequent changes in retail format, a fragmented distribution structure, and ambiguous regulations. This study uses field surveys and comparative analyses of individual enterprises in Vietnam’s toiletry products industry to identify suitable channel strategies for emerging markets in the early stages of distribution modernization. The results indicate that partnership channels are more suitable than hierarchy and market governance channels. Moreover, among the various types of intermediaries, distributors provide a key role in emerging markets where transportation functions are undeveloped. Finally, the study investigates the various methods of partner selection, finding that effectiveness-oriented networks are superior to large-scale efficiency-oriented networks because they have greater channel coverage in modernizing emerging markets. The findings demonstrate the optimal channel structures and partner selection criteria for distributors in emerging markets.     

Scalable simulation of a Disaster Response Agent-based network Management and Adaptation System (DRAMAS)

The objective of this paper is to advance the study of disaster response and recovery (generally, disaster relief) by providing tools and insights to agencies that work in disaster relief. This paper is built on extensive research of disaster relief literature and practice, and provides a comprehensive analysis of agency posturing following an extreme event. We present the Disaster Response Agent-based network Management and Adaptation System (DRAMAS) model, which uses stochastic processes to model the complex interactions between relief agencies of different sizes and capabilities. The DRAMAS simulation environment provide an excellent testing ground for hypotheses regarding relief agency partnerships, goals, roles, and prior involvement, by providing a depiction of the change in agency partnerships and resource investments following a disaster. The goal of this research is to expand the current body of knowledge and examine the fundamental principles of agency success during relief operations. We find that (a) larger relief networks tended to be less efficient at meeting the typical needs of the community, (b) having a relief network with more agents appeared to increase the time it took for a typical need, (c) having a high percentage of local agents resulted in an increased time for typical services, (d) a more dense network resulted in more effective identification of long-term needs and also improved services time, etc. Results from this work provide a path for improving our understanding of interagency partnerships and interaction, and could provide new insights into the behavior of agency networks in response to a disaster.     

This Offer Self-Destructs in 3… 2… 1…: Improving the Effectiveness of “That's-Not-All” Techniques in Promotional Emails

This study investigated the “that's-not-all” (TNA) technique as a promotional strategy and offered suggestions for maximizing its effectiveness. The research contributes to current literature by addressing two moderating variables and their influence in aiding the process, time limitation, and internal reference price. Results denote a significant TNA impact overall on attitudes and perceptions of offer value. Ads featuring a 7-day time limit were even more influential on study participants, yet product internal reference price did not significantly impact participant attitudes or perceptions. Additionally, five focus groups were analyzed to assess consumer perceptions of TNA techniques and implications for the research.     

西方公私伙伴关系研究

二十世纪八九十年代以来,伴随着公共部门管理改革的进行,各国都在寻求为市民提供更好服务和更好满足公共利益的新的制度安排。公私伙伴关系作为这种新制度安排的政策工具在西方发达国家逐步发展起来。公私伙伴关系在改善西方国家公共服务水平方面发挥了重要作用,对西方公私伙伴关系的理论与实践的介绍有助于我国借鉴相关经验来提高公共服务水平。     

医药物流企业合作伙伴关系管理的研究——以常州亚邦医药物流公司为例

通过分析常州亚邦医药物流公司合作伙伴关系管理的现状,从合作伙伴的交易额与信息共享深度两个维度对常州亚邦医药物流合作伙伴细分成三种类型,针对不同类型合作伙伴提出了对应的关系管理策略,策略的实施重在提升企业的竞争力。     

The role of customer management capabilities in public–private partnerships

Commercial organisations are increasingly asked to perform tasks traditionally associated with governmental bodies, such as law enforcement. The rationale for these public–private partnerships is that there are synergies between traditional business skills and those required to achieve certain societal goals. However, there is a lack of research into whether this is, indeed, the case. This paper addresses this gap by investigating one particular type of public–private partnership: anti-money laundering (AML). The study explores the potential synergies between customer relationship management (CRM) and those required for AML. A quantitative survey-based approach is used to identify the overlaps and connections between these two areas of competence. The findings reveal tensions between financial institutions’ dual roles as both commercial organisations and players in the battle against money laundering. The consequences for these firms are explored, and the wider implications for other organisations supplying non-commercial services to government are considered.     

Partnerships in International Travel and Tourism Marketing: A Systems-Oriented Approach Between Australia,New Zealand,Germany and the United Kingdom

Abstract

Little empirical research has been conducted about international partnerships between travel and tourism organisations, airlines and their intermediaries such as wholesalers and travel agents. Nevertheless, these partnerships are important because tourism is becoming more international and most destinations have to compete at a global level. Moreover, both producers and intermediaries are increasingly using information technology to increase their knowledge and relationship with customers. Thus this research set out to develop and empirically confirm a systemic model of these partnerships and four related research objectives. The methodology involved multiple case studies based on in-depth interviews with key players in Australia, New Zealand, the United Kingdom and Germany. The first outcome is a confirmation of the systemic model. In addition, the findings show the reasons for engaging in partnerships and the scope for further partnerships among the industry players. As well, the findings show that while ‘disintermediation’ may occur because of the advancement of communication technology, the linkages between travel and tourism organisations, airlines and intermediaries are still significant. Our framework can assist public and private travel and tourism organisations to mutually develop and manage marketing strategies and tactics for overseas markets.