This paper provides an empirical analysis that examines the effect of both, transaction characteristics and the institutional environment on the choice of governance. Using a dataset of 237 corporate-specific value chains in the global LNG industry, we introduce inter-organizational trust as a...

Objective: The objective of the article is to examine the impact of breakthrough innovations, which make up the Fourth Industrial Revolution (4IR), on the volume and structure of international trade. Research Design & Methods: The article is based on available literature and online sources. It...

This report offers an analytical framework that allows for more systemic assessments of distributed ledger technology (DLT) and its applications. It examines the evolution and typology of the emergent technology, its existing and projected applications, and regulatory and policy issues that they...

This study aims to understand the extent to which policymakers continue to be impacted by the COVID-19 pandemic as we move away from the crisis. The survey provides insights into the types of consumer risks that have emerged because of the pandemic and the impact of such risks on policy...

We develop a novel theory of mis-allocation within firms (rather than between firms) due to managers' empire building. We introduce an in- ternal capital market into a two-factor model of multi-segment firms. We show that more open markets impose discipline on competition for capital within...

This paper identifies opportunities for increasing individual wellbeing to provide a basis for its measurement and improvement. Opportunities for increasing wellbeing exist in the private, non-profit and government sectors by introducing elements of network governance to complement, restrain and...

The governance of infrastructure institutions in the financial markets – namely exchanges, central counter-parties (CCPs), and central securities depositories (CSDs) – has become a matter of significant commercial, regulatory, legislative, and even political concern. Such institutions play a...

This paper develops a novel theory of capital mis-allocation within firms that stems from managers’ empire building and informational frictions within the organization. Introducing an internal capital market into a two-factor model of multi-segment firms, we show that international competition...

Trade credit is differentiated from other lending channels by the underlying sales relationship. Using a unique hand-collected dataset of customer-supplier-matched trade credit, I examine how the importance of a customer's sales to its supplier affects trade credit decisions. Contrary to...