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Joskow (1987) examined the importance of specific investments to the contract duration of coal contracts. Since … examines how the level of specific investments affect the design of coal contract structure, namely the simultaneous choices of … contract duration and pricing provision. The empirical results show that, from both the separate and joint estimations, the …
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governmental contract enforcement. We find that firms in relationship-specific industries have higher valuations, measured by Tobin …
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