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Japanese multinational companies (MNCs) have often been portrayed as highly centralised firms that limit the roles of overseas subsidiaries to the assembly and sale of standardised products designed and developed in Japan (see, e.g. Bartlett and Ghoshal, 1989: 51-2, 158-161). Their foreign...
Persistent link: https://www.econbiz.de/10005869961
We value UK executive stock options (ESOs) as American options that areawarded conditional on the probability of the holders achieving some performancecriteria. Unlike the standard Black and Scholes (BS) model, which is universally usedboth in the literature and practice, this provides a more...
Persistent link: https://www.econbiz.de/10005870089
We price European-style options on assets whose probability distributions have two unknown parameters. We assume a pricing kernel which also has two unknown parameters. When certain conditions are met, a two-dimensional risk-neutral valuation relationship exists for the pricing of these options:...
Persistent link: https://www.econbiz.de/10005870167
The internationalization of services is a natural part of the evolutionary development of anopen market economy. This is neither a recent nor passing phenomena, but a developmenttrajectory along which market economies have run for millennia. The internationalization(or globalization) of economic...
Persistent link: https://www.econbiz.de/10005870403
The nature and economic role of legally constituted firms varies between market economiesand changes over time. In particular, the governance of leading firms and how they developdistinctive organisational capabilities vary between institutional regimes and their supportingpolitical-economic...
Persistent link: https://www.econbiz.de/10005870631
Different ways of competing in markets came to dominate particular sectors, regions and national market economies in the postwar period as a result of variations in market conditions, technological regimes and institutional contexts. These varied in terms of production volumes, basis of...
Persistent link: https://www.econbiz.de/10005870673