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The Magnitude of Menu Costs: Direct Evidence from Large U.S. Supermarket Chains
Levy, Daniel; Bergen, Mark; Dutta, Shantanu; Venable, Robert - EconWPA - 2005
We use store-level data to document the exact process of changing prices and to directly measure menu costs at five multi-store supermarket chains. We show that changing prices in these establishments is a complex process, requiring dozens of steps and a nontrivial amount of resources. The menu...
Persistent link: https://www.econbiz.de/10005412630
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Price Adjustment at Multiproduct Retailers
Levy, Daniel; Dutta, Shantanu; Bergen, Mark; Venable, Robert - EconWPA - 2005
We empirically study the price adjustment process at multiproduct retail stores. We use a unique store level data set for five large supermarket and one drugstore chains in the U.S., to document the exact process required to change prices. Our data set allows us to study this process in great...
Persistent link: https://www.econbiz.de/10005412912
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What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm
Neuberger, Doris - EconWPA - 2005
-bank institutional investors. The present paper examines to what extent this implies a substitution of relationship finance by arm …’s length finance or just of one form of relationship finance by another. Within the contractual theory of the firm, we seek … complements rather than substitutes to finance and control firms with different redeployability and information opaqueness of …
Persistent link: https://www.econbiz.de/10005134639
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What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm
Neuberger, Doris - EconWPA - 2005
paper examines whether this implies a substitution of relationship finance by arm’s length finance or of firm … advantages depend on two kinds of asset specificity. They are complements to finance and control firms with different …
Persistent link: https://www.econbiz.de/10005134668
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What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm
Neuberger, Doris - EconWPA - 2005
paper examines whether this implies a substitution of relationship finance by arm’s length finance or of firm … advantages depend on two kinds of asset specificity. They are complements to finance and control firms with different …
Persistent link: https://www.econbiz.de/10005134829