This paper considers a stochastic inventory management problem where a capital-constrained firm can obtain additional working capital through an inventory-based financing facility by pledging its inventory to obtain loans from a lender. We show that it is optimal to deploy a state-dependent...

How can a service firm right-size marketing expenses and yet strive to maximize revenue? This paper represents the first attempt to model these efficiency and effectiveness issues using a 49-unit Asia-Pacific hotel chain as illustration. We employ a triangular DEA model with total expenses...