This paper presents a simple framework for the use of traditional capital budgeting models and the valuation of several real options in the presence of shadow costs of incomplete information. Information costs can be viewed as sunk costs in the spirit of Merton’s (1987) model of capital market...

Pension fund return s can be decomposed into different sources, including market movements, asset allo-cation policy, and active portfolio management. We use a unique database covering the asset allocations of US defined-benefit pension funds for the perio d 1990–2008, and we test the role...

The purpose of this article is to analyse the developmental process of co-operative inter-organizational relationships that entails transactions between French firms and Moroccan subcontractors. The examined industries are : chemical, textile, agrobusiness, mechanic engineering, metallurgical...