What evidence exists on the value of formal planning for strategic decision-making in marketing? This paper reviews the evidence. This includes two tests of face validity. First, we use the market test: Are formal procedures used for marketing planning? Next, we examine expert prescriptions:...

A quantitative critique of 28 studies concludes that formal planning is valuable for firms. The results were particularly favorable for manufacturing firms: nine studies found formal planning to be associated with better performance and none found detrimental performance.

Nowadays of increasing functioning of network competitors, the Portuguese Small and Medium Enterprises (SME) of the Textile and Clothing Industry are facing new digital challenges. In order to strengthen their market power and reduce their dependence on foreign subcontractors, they should create...

Recently, the continuous double auction, i.e. the trading mechanism used in the majority of the financial markets, is the subject of an extensive study. In the present paper, a model of the continuous double auction with the completely random flow of the limit orders is studied. The main result...

This paper presents theoretical models and their empirical results for the return and variance dynamics of German stocks. A factor structure is used in order to allow for a parsimonious modeling of the first two moments of returns. Dynamic factor models with GARCH dynamics (GARCH(1,1)-M,...

Romer (1993) suggests that universities should undertake experiments that would test the value of mandatory attendance for economics courses. He presents evidence showing that those who attended his classes received higher grades on his exams and concluded that “an important part of the...