We offer the first direct evidence of an implicit contract in a goods market. The evidence we offer comes from the market for Coca-Cola. We demonstrate that the Coca-Cola Company left a substantial amount of written evidence of its implicit contract with its consumers—a very explicit form of...

This paper examines the empirical relationship between the quality of the Indian judiciary and the economic development of the Indian States and Union Territories. It evaluates this causality by analysing the development of the state-level per capita income and poverty rates. I define the...

The paper investigates whether and how performance of regional commercial courts has affected external credit of Russian enterprises between 1995 and 2002. The results show that more reliable courts lead to higher bank lending to firms. This occurs predominantly through expansion of the number...

Platform sharing across manufacturers has recently become common practice in the automobile industry. Its important objective is to reduce procurement costs by taking advantage of the commonality of components, but this often reduces the degree of product differentiation. We investigate this...

Wine brokers are wholesale intermediaries. They belong to the category of the matchmaker intermediaries. These middlemen are not well known. Their role is to help buyers and sellers of bulk wine to meet and transact. Assuming that wine merchants appeal to brokers because they reduce transaction...

Although most of the predicted consequences of the internet-revolution in the 90s did not become reality, the internet has lead to sustainable hanges in the organization of most industries. In particular, this is true for business-to-business (B2B) relations between firm. An obvious `proof' for...

The financial systems in continental Europe are moving from bank intermediation to intermediation by non-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...

The financial systems in continental Europe are subject to profound changes in the institutions of market exchange. Banks traditionally holding close relationships with firms are substituted by non-bank institutional investors. The present paper examines whether this implies a substitution of...

The financial systems in continental Europe are subject to profound changes in the institutions of market exchange. Banks traditionally holding close relationships with firms are substituted by non-bank institutional investors. The present paper examines whether this implies a substitution of...

Arithmetically each level of human generation contributes to 6.72 generations of Computer upgrading. But, this effect could pay back to the human society only by tuning the corporate infrastructure to utilise these computer innovations optimally. The future computer electronics works towards...