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1.
Efficient Liability Rules: Complete Characterization 总被引:5,自引:0,他引:5
Received May, 18, 2000; revised version received March, 19, 2001 相似文献
2.
We analyze the impact of product diversification on performance. This topic has been discussed in the literature, and there
is no consensus so far as to the significance or the direction of the impact. Performance is measured using Tobin's q for
a sample of 103 large, non-financial Spanish firms (1992–1995). Diversification is measured by means of a categorical variable,
as suggested by Varadarajan. The principal results indicate that the firms with intermediate levels of product diversification
have the highest performance, while the firms with low and high levels of diversification show significantly lower performance,
which performance is not significantly different between them. 相似文献
3.
4.
The determinants of R&D intensity differ between subsidiaries in a multinational enterprise (MNE). Previous literature suggests that whether a subsidiary achieves a competence‐creating output mandate depends on the qualities of its location. R&D strategies in competence‐creating subsidiaries are supply‐driven while those in purely competence‐exploiting subsidiaries are demand‐driven. Using data on U.K. subsidiaries of non‐U.K. MNEs, we find that the level of subsidiary R&D depends on MNE group‐level and subsidiary‐level characteristics as well as locational factors. The R&D of mandated subsidiaries rises with acquisition, but for non‐mandated subsidiaries R&D falls upon acquisition. MNEs that grow through acquisition have more inter‐subsidiary R&D diversity. Copyright © 2005 John Wiley & Sons, Ltd. 相似文献
5.
This paper presents a modeling methodology capable of accounting for spatial correlation across choice alternatives in discrete choice modeling applications. Many location choice (e.g., residential location, workplace location, destination location) modeling contexts involve choice sets where alternatives are spatially correlated with one another due to unobserved factors. In the presence of such spatial correlation, traditional discrete choice modeling methods that are often based on the assumption of independence among choice alternatives are not appropriate. In this paper, a Generalized Spatially Correlated Logit (GSCL) model that allows one to represent the degree of spatial correlation as a function of a multi-dimensional vector of attributes characterizing each pair of location choice alternatives is formulated and presented. The formulation of the GSCL model allows one to accommodate alternative correlation mechanisms rather than pre-imposing restrictive correlation assumptions on the location choice alternatives. The model is applied to the analysis of residential location choice behavior using a sample of households drawn from the 2000 San Francisco Bay Area Travel Survey (BATS) data set. Model estimation results obtained from the GSCL are compared against those obtained using the standard multinomial logit (MNL) model and the spatially correlated logit (SCL) model where only correlations across neighboring (or adjacent) alternatives are accommodated. Model findings suggest that there is significant spatial correlation across alternatives that do not share a common boundary, and that the GSCL offers the ability to more accurately capture spatial location choice behavior. 相似文献
6.
7.
Ram RANJAN 《Annals of Public and Cooperative Economics》2017,88(4):589-610
A model of concessional bargaining among farmers explains the success (or lack thereof) of cooperative institutions in rural farm settings in the developing regions. Concessional bargaining in day‐to‐day interactions generates goodwill, which helps smoothen future dealings amongst farmers as well as with outside agents. In particular, we model the existence of goodwill amongst farmers as enhancing their ability to collectively bargain with an outside dealer that buys their farm produce. Results suggest that when dealing with each other, farmers offer higher concessions when the risk of loss or reversal in bargaining power is high; however, the level of concession is also influenced by the degree of reciprocity and parameters that affect bargaining surplus. Findings provide further insights over the success of cooperative institutions in rural farm settings where inter‐farmer goodwill dynamics determines the cooperative's bargaining outcomes. Specifically, when farmers generously reciprocate each other's goodwill gestures, it leads to better outcomes through increasing their cooperative reservation price. In contrast, when the degree of reciprocity is lower, or when the risk of bargaining power switching is higher, farmers extract more surplus from other farmers, and this also lowers the cooperative's bargaining outcomes and makes the cooperative arrangement unviable in the long term. 相似文献
8.
José Ramón Cancelo Estefanía Mourelle 《International Advances in Economic Research》2005,11(2):135-147
This paper applies smooth transition models to capture the nonlinear behavior in the imports data of six major European economies and to assess whether such nonlinearities are related to business cycle asymmetries. Two classes of switch between regimes are considered: endogenously determined transition that assumes nonlinearities are generated by idiosyncratic components specific to foreign trade, and exogenous transition based on GDP growth as a more direct indicator of the cyclical state of the economy. The results support the proposition that the dynamics of imports are nonlinear. In Belgium, France, Spain, and the United Kingdom, regimes change over the business cycle, while in Germany and Italy the switch between regimes is endogenous. National characteristics play a role in defining the position of extreme regimes, the smoothness of the transition, and local dynamics within each state.Previous versions of this article have been presented at the 57th International Atlantic Economic Conference (Lisbon, Portugal, March 10–14, 2004) and at the VII Encuentro de Economía Aplicada (Vigo, Spain, June 3–5, 2004). The authors thank the conference participants and an anonymous referee for their comments. 相似文献
9.
Based on detailed case histories of South Asian workers and their co-ethnic employers in the West Midlands clothing and catering industries, this paper examines the use of illegal immigrant labour in small ethnic minority firms and attempts to tease out its implications for the migrants themselves, their employers and the broader national interest. To establish a proper context, we begin with a review of the recent literature on the structural changes – principally the confluence of globalization and post-industrialism – which have generated a seemingly unstoppable flow of labour migration; and the official state policies that have forced much of it underground. Our own case histories are seen as one of countless local expressions of this clash between economic and political imperatives, a clash which effectively criminalizes employers and workers for providing a positive economic and social contribution to the wider good. In the present case, it is only by employing immigrant labour that struggling entrepreneurs can survive in hyper-competitive sectors of the economy and the stark choice is between official tolerance of law-breaking or driving many of these enterprises to the wall. 相似文献
10.
Igone Porto Gómez José Ramón Otegi Olaso Jon Mikel Zabala-Iturriagagoitia 《Entrepreneurship & Regional Development》2016,28(1-2):26-50
The literature on territorial innovation modes has identified the development of a diverse set of innovation systems at multiple levels of analysis. However, there are certain gaps that do not allow their adaptation to the particularities of certain territories. Despite the multiple concepts related to innovation systems approach, the state of the art does not yet provide a useful analytical approach for a deep and comprehensive characterization of territories with a high sectoral and technological specialization. This paper introduces an analytical framework based on a regional open and sectoral innovation system, which is qualitatively tested in the Durango County (Spain). The aim of this paper is to introduce a subtype of innovation system that meets the requirements and needs of a located micro-territory with a high level of sectoral specialization. 相似文献