Procurement practices are affected by uncertainty regarding suppliers' costs, the nature of competition among suppliers, and uncertainty regarding possible collusion among suppliers. Buyers dissatisfied with bids of incumbent suppliers can cancel their procurements and resolicit bids after...

Heteroscedasticity-correction masks signals from standardized residuals, so analysts should examine the residuals to identify outliers and should use likelihood dispersion to identify influential observations. These points are demonstrated with a model that examines the effect of exchange rate...

This paper examines the effect of liquidity shocks on international interest arbitrage to examine if persistent excess returns exist in international financial markets as indicated by a large body of literature on the forward discount puzzle. The prospect of losses entailed by liquidating assets...