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Chen, Daniel - 2020

We model a simple market setting in which fragmentation of trade of the same asset across multiple exchanges improves allocative efficiency. Fragmentation reduces the inhibiting effect of price-impact avoidance on order submission. Although fragmentation reduces market depth on each exchange, it...

Persistent link: https://www.econbiz.de/10012479351

Outsourcing when Investments are Specific and Complementary

Lileeva, Alla - 2008

Using the universe of large Canadian manufacturing firms in 1988 and 1996, we investigate to what extent outsourcing … outsourcing less likely; (ii) complementarities between the investments of the buyer and the seller are also associated with less … outsourcing; (iii) property rights predictions on the link between investment intensities and optimal ownership are only supported …

Persistent link: https://www.econbiz.de/10012464170

Does Managerial 'Outsourcing' Reduce Expense Preference Behavior? A Comparison of Adopters and Non-Adopters of Contract-Management in US Hospitals

Carey, Kathleen - 2002

This paper explores potential realization of gains by hospitals that are managed on a day-to-day basis by external organizations under formal contracts. It draws from the incentives literature, which postulates that managers of firms where ownership is separated from control will employ an input...

Persistent link: https://www.econbiz.de/10012469553