“What is the contribution of economic openness and the domestic economy to income?” is tested using quantity measures of trade, finance, and domestic economic base. The short answer is: “It depends”. Africa and the Americas lose from both trade and financial openness. Asia gains from...

Indonesia, Malaysia, Philippines, South Korea, and Thailand have not recouped their losses from the 1997 Asian Crisis. Unless their economic performances better than the recent trends, another economic miracle story is needed to reclaim past economic standings. Unless economic policies move in a...

The diagnosis: Dutch disease caused by international remittances afflicts the middle income countries but not the upper income and low income countries. The middle income countries can inoculate their economies from getting the disease with robust macro and sectoral economy conditions. But if...

I formulate a model to emphasize the fraud detection role of auditors in the financial market, providing a theoretical framework to examine the likelihood of and market reaction to a financial reporting and audit delay. The model has an auditor considering whether to perform extended audit...

The advantage of multiple sourcing to protect against supplier failures arising from undependable (or even unsafe) products due to latent defects is examined using a quality-cost model of supply base composition. Prior models have focused on supplier failures arising from unreliable supply, such...

Although Holmstrom’s informativeness criterion provides a theoretical foundation for the controllability principle and interfirm relative performance evaluation, empirical and field studies provide only weak evidence on such practices. This paper refines the traditional informativeness...

This paper considers the classical newsvendor model when, (a) demand is autocorrelated, (b) the parameters of the marginal distribution of demand are unknown, and (c) historical data for demand are available for a sample of successive periods. An estimator for the optimal order quantity is...

Abstract. A recent study shows that industry-specific analysis has no incremental advantage over economy-wide analysis in forecasting firm profitability. This result seems puzzling because some earlier studies have documented the importance of industry effects in explaining firm profitability....

In the current technical report, we consider for the Greek road transport various policies of emission control for the period 2014-2030, and for the first time we estimate the related greenhouse gas emissions expressed in CO2 equivalent and the total costs. These policies result from the high...

In this paper we investigate the convexity of the annual total cost function for the Hadley & Whitin (1963) continuous review (Q,R) inventory model with backorders and fixed lead-time, when the reorder point is non-negative and the cost per unit backordered is used to calculate the expected...