Using a two period model with moral hazard and uninsured risk, we argue that the decline in equity premium from its historically high level is due to a gradual elimination of barriers to universal banking. The loan contracts set up by financial intermediaries became more complete in nature with...

In this paper, the authors explain that relatedness is often associated with acquisition value creation without distinguishing between three underlying sources of synergy: business similarity, product complementarity and geographic complementarity. The authors argue that realizing value in...

We make the case for fresh approaches to examine the role of trust in international collaborations, based on the idea that not only do the levels of trust differ across international borders but also both the nature of trust and the institutional and cultural support for trust can vary across...

This paper introduces the concepts of alertness and responsiveness as key capabilities for firms in fast-moving, information-intensive environments such as global currency trading. Hypotheses drawn from the resource-based view of the firm, from network theory, and from Austrian economics are...

Electronic integration---a form of vertical quasi-integration achieved through the deployment of dedicated computers and communication systems between relevant actors in the adjacent stages of the value-chain---is an important concept to researchers in the information systems field since it...

The extensive literature on geographical clusters has argued that firms stand to gain from the knowledge spillovers and the easy availability of skills in regional agglomerations. At the same time, the research on strategic alliances, particularly in technology-intensive industries, views...

Drawing on expectancy, equity, and collective effort theories, we argue that the level of involvement of individual firms in multifirm alliances depends on both individual firms' self-focused interests and factors stemming from the firms' membership in the alliance group. We apply our...

Research by Dyer and Chu (2000) suggests that trust in exchange varies significantly across borders and influences the level of trust in cross-border exchange dyads. However, while this is a good start, research has yet to develop the concept that not only can the countries of origin of the...

We examine the existence of country effects on information seeking in response to market volatility, and explore the institutional factors underlying these effects. The empirical setting is the use of an electronic inter-bank network over twelve months by 3,266 banks located in twenty-five...