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Optimal Cash Management Under Uncertainty
Bensoussan, Alain; Chutani, Anshuman; Sethi, Suresh - Volkswirtschaftliche Fakultät, … - 2009
We solve an agent's optimization problem of meeting demands for cash over time with cash deposited in bank or invested in stock. The stock pays dividends and uncertain capital gains, and a commission is incurred in buying and selling of stock. We use a stochastic maximum principle to obtain...
Persistent link: https://www.econbiz.de/10008567676
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Perspectives on Single Euro Payments Area adoption in the light of the financial crisis
Avadanei, Andreea - Volkswirtschaftliche Fakultät, … - 2010
The scope of this article is to point out how the present financial crisis is affecting the European payments landscape and the Single Euro Payments Area implementation. The current unpredictable and very challenging market situation has not fundamentally changed the fact that payment services...
Persistent link: https://www.econbiz.de/10008835354
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Decreasing negative the delivery risk influence on the recepient's firm value: Portfolio approach
Michalski, Grzegorz - Volkswirtschaftliche Fakultät, … - 2008
The basic financial purpose of an enterprise is maximization of its value. Inventory management should also contribute to realization of this fundamental aim. The enterprise value maximization strategy is executed with a focus on risk and uncertainty. This article presents the consequences for...
Persistent link: https://www.econbiz.de/10005835660
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Reference Points in Renegotiations: The Role of Contracts and Competition
Bartling, Björn; Schmidt, Klaus M. - Volkswirtschaftliche Fakultät, … - 2012
Several recent papers argue that contracts provide reference points that affect ex post behavior. We test this hypothesis in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an initial contract has a highly significant and...
Persistent link: https://www.econbiz.de/10010860227
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Tariff-Mediated Network Effects versus Strategic Discounting: Evidence from German Mobile Telecommunications
Zucchini, Leon; Claussen, Jörg; Trüg, Moritz - Volkswirtschaftliche Fakultät, … - 2013
Mobile telecommunication operators routinely charge subscribers lower prices for calls on their own network than for calls to other networks (on-net discounts). Studies on tariff-mediated network effects suggest this is due to large operators using on-net discounts to damage smaller rivals....
Persistent link: https://www.econbiz.de/10011019344
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Теория предпринимательства и эволюционная экономика
Кантарбаева, Алия; Мустафин, … - Volkswirtschaftliche Fakultät, … - 1997
The paper presents the analysis of recent developments of Schumpeterian theory of entrepreneurship and innovation in light of evolutionary economics.
Persistent link: https://www.econbiz.de/10011212782
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A note on the adverse effect of competition on consumers
Dinda, Soumyananda; Mukherjee, Arijit - Volkswirtschaftliche Fakultät, … - 2010
It is usually believed that higher competition, implying more active firms, benefits consumers. We show that this may …
Persistent link: https://www.econbiz.de/10011271692
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От социального либерализма - к философии сотрудничества
Polterovich, Victor - Volkswirtschaftliche Fakultät, … - 2015
governance as well as economic and political competition, whereas the role of collaboration mechanisms is growing. This process …
Persistent link: https://www.econbiz.de/10011245928
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Mergers between regulated firms with unknown efficiency gains
Fiocco, Raffaele; Guo, Dongyu - Volkswirtschaftliche Fakultät, … - 2014
informational problems. We show that, as a consequence of this trade-off, more intense competition in unregulated segments of the … can lead to a softer merger policy when competition is weaker. …
Persistent link: https://www.econbiz.de/10011252548
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Product-market competition, corporate governance and innovation: evidence on US-listed firms
Hashem, Nawar; Ugur, Mehmet - Volkswirtschaftliche Fakultät, … - 2011
The debate on competition and innovation has produced a wide range of theoretical and empirical findings. Recently …, corporate governance quality has emerged as an additional factor that may complement or substitute for competition’s effect on … innovation. We aim to contribute to the debate by investigating whether product-market competition and corporate governance …
Persistent link: https://www.econbiz.de/10011258940