Thus most early American manufacturing firms existed as a partnership (formal or informal) between technically knowledgeable factory owners or managers on the one hand, and mercantile capitalists on the other. Sometimes (as in the rail and textile mills) these alliances developed when merchants,...

The identification and estimation of a semiparametric simultaneous equation model with selectivity have been considered. The identification of structural parameters from reduced form parameters in the semiparametric model requires stronger conditions than the usual rank condition in the...

This paper has dual goals. On the one hand, it attempts a review of recent econometric work on the U.S. automobile industry. Three studies of this industry are reviewed, compared, and contrasted. These are studies by Koujianou Goldberg [Koujianou Goldberg, P., 1993, U.S. trade policy...

This paper explores residential and job location patterns and commuting behavior in a monocentric urban model with decentralized employment. We show that, in some cases, identical households choose different residential rings depending on their workers' job locations. This means that high-income...

Institutional investors supply the bulk of the funds which are used by venture capital investment firms in financing emerging growth companies. These investors typically place their funds in a number of venture capital firms, thus achieving diversification across a range of investment...

In this paper we study whether the progressive liberalization of the U.S. telecommunications industry has altered the psychology of firms' behavior and led to performance changes. A detailed theoretical framework is developed, based on extension of the postulates of x-efficiency theory. Such an...

The paper reviews the educational and evaluation experience with the widely known Perry Preschool Program. Basically, the Perry Program generated short-term IQ gains that evaporated within 2 years, followed by long-term gains in attendance, academic achievement, graduation rates and earnings,...

Model integration extends the scope of model management to include the dimension of manipulation as well. This invariably leads to comparisons with database theory. Model integration is viewed from four perspectives: Organizational, definitional, procedural, and implementational. Strategic...

The environment within which institutions undertake commercial and industrial activity changes both as a result of decisions dependent on the institution itself and as a result of decisions independent of the institution. In recent years many of these changes have resulted in changing...

This paper investigates the rationale behind interfirm tender offers by examining the returns realized by the stockholders of firms that were the targets of unsuccessful tender offers and firms that have made unsuccessful offers. Our results suggest that the permanent positive revaluation of the...