This paper analyzes the location patterns of firms in Cournot spatial discrimination setting. The innovation step is that firms are allowed to have different marginal costs of the production. When analyzing the two-stage location-quantity game, we conclude that firms choose the central...

This paper examines labor adjustments in ten Portuguese banks after the ownership transfer to the private sector. The results show that the restructuring process is a very complex phenomenon, with firms exhibiting diverse adjustments in terms of either speed or path. In addition, our findings...

A dynamic directional input distance function is proposed within the adjustment-cost model of the firm, generalizing the directional distance function developed by Chambers, Chung and Färe (1996) in the static context. Duality is established between the dynamic directional distance function and...

In the last decades there has been a gradual liberalisation of international air transport markets through the implementation of open skies agreements which seek the deregulation of the air transport industry and consequently the functioning of the market in a freer way. The objective of this...

We analyse the dynamics and evolution of the corporate restructuring process in the Portuguese banking sector, where 10 banks were privatised during the period 1989-1996. We apply a novel methodological approach in this context, using a multidimensional measure of restructuring that links...

This paper revisits the results of the pioneering models of the firm under demand uncertainty and analyses the apparent disparity with respect to the signal of the investment-uncertainty relationship predicted by them. In the 1970’s-1980’s the modelling of demand uncertainty at the firm...

This paper proposes an evolutionary model that captures the main dynamics of a world where heterogeneous firms and workers interact and co-evolve. Within a micro-meso perspective, the model focuses on the influence of firms' "institutional settings" on industry dynamics, formalizing these...

The present work analyzes the multinational firm's decision concerning the relocation of production from a country where it is currently settled, to another foreign country, assuming that the government of this country has private information on his specific type (type G or type B, with the...

This paper reviews arguments and empirical findings on positive effects of FDI on host country firms. With the exception of the only unambiguous result of microeconometric studies, which is the superior productivity of foreign firms, the main conclusion extracted from empirical studies is the...

Hartman (1972) and Abel (1983) showed that when firms are competitive and there is flexibility of labour relative to capital, marginal profitability of capital is a convex function of the stochastic variable (e.g., price); by Jensen’s inequality, this means that uncertainty increases the...