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The R&D risk-return trade-off : exploring the diversity of young innovative firms
Runst, Petrik; Thomä, Jörg - 2024
between innovation and growth in young firms. To this end, this paper develops an augmented YIC categorization that also … includes non-R&D innovators and young firms that conduct R&D but have not yet brought an innovation to the market. Using panel …-R&Doriented YICs, typically focused on the 'Learning by Doing, Using, and Interacting' (DUI) mode of innovation, exhibit a distinct …
Persistent link: https://www.econbiz.de/10015084298
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Ownership Risk and the Use of Common-Pool Natural Resources
Laurent-Lucchetti, Jérémy - 2013
It has long been recognized that the quality of property rights greatly impacts the economic development of a country and the use of its natural resources. Since Long (1975), the conventional wisdom has been that ownership risk induces a firm to overuse the stock of a resource. However, the...
Persistent link: https://www.econbiz.de/10013091457
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Ownership Risk and the Use of Common-Pool Natural Resources
Laurent-Lucchetti, Jérémy - 2013
It has long been recognized that the quality of property rights greatly impacts the economic development of a country and the use of its natural resources. Since Long (1975), the conventional wisdom has been that ownership risk induces a firm to overuse the stock of a resource. However, the...
Persistent link: https://www.econbiz.de/10013094463
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Leasing, Uncertainty, and Financial Constraint
Zhang, Na - 2012
Leasing is one of the most important sources of external finance to corporate firms. This paper develops a dynamic model to investigate the role of uncertainty and financial constraint in understanding the leasing decisions of corporate firms. The model predicts that firms with high uncertainty...
Persistent link: https://www.econbiz.de/10013109337
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Uncertainty, and the Trade-Off Between Scale and Flexibility in Investment
Guthrie, Graeme - 2011
This paper presents a tractable model of a firm that chooses both the scale and timing of its investment. The value-maximizing investment policy is lumpy, and sensitivity analysis shows that greater demand volatility is associated with the firm choosing to invest in larger increments, less...
Persistent link: https://www.econbiz.de/10013128347
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Intertemporal Bundling Under Demand Uncertainty
Mialon, Sue H. - 2014
We develop a two-period model of bundling strategy when a monopolistic firm faces uncertain demand in the second period. We examine the effect of intertemporal bundling on market outcomes in three cases: when the monopolist offers bundling without an option to purchase an individual future...
Persistent link: https://www.econbiz.de/10012751499
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Paying for Risk : Bankers, Compensation, and Competition
Whitehead, Charles K. - 2015
Efforts to control bank risk address the wrong problem in the wrong way. They presume that the financial crisis was caused by CEOs who failed to supervise risk-taking employees. The responses focus on executive pay, believing that executives will bring non-executives into line — using...
Persistent link: https://www.econbiz.de/10013035251
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Risk, Delegation, and Project Scope
Roider, Andreas - 2021
This paper studies a partial-contracting model where an agent may provide effort to increase a project's scope before some later decisions have to be taken. Consistent with existing empirical evidence, we find a positive relationship between exogenous risk and delegation. That is, we show that...
Persistent link: https://www.econbiz.de/10013316757
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Towards a Socio-Legal Theory of Contractual Risk
Gessner, Volkmar - 2011
This paper deals with the risk of opportunism – the usual risk in economic exchanges. The breach of contract is probably the most common event in daily life and has therefore attracted research and debates in many disciplines of the social sciences. Our discussion deals with the current...
Persistent link: https://www.econbiz.de/10014178200
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Uncertainty-driven cooperation
Cetemen, Esat Doruk; Hwang, Ilwoo; Kaya, Ayça - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 3, pp. 1023-1058
We consider dynamic team production in the presence of uncertainty. Team members receive interim feedback that depends on both their current effort level and the project's uncertain prospects. In this environment, each member can encourage the others by making them more optimistic about the...
Persistent link: https://www.econbiz.de/10012308721