Sourcing, once seen as a tactical function of vertically integrated firms, has today become strategic for firms that now rely on extensive, vertically disintegrated supply chains. Vertical disintegration leads to complex relationships within a supply chain; for example, dependence between firms...

Der vorliegende Beitrag befasst sich mit dem Zusammenwirken von zwei externen Effekten, die jeweils für sich eine effiziente Kapitalallokation behindern können.Zum Einen geht es darum, dass unter Umständen an sich Erfolg versprechende Investitionsgelegenheiten nur deswegen nicht realisiert...

A proper security architecture is an essential part of implementing robust and reliable networked applications. Security patterns have shown how reoccurring problems can be best solved with proven solutions. However, while they are critical for ensuring the confidentiality, integrity and...

In this paper, we develop a model of regulation for a set of heterogenous farmers whose production yields to environmental externalities. The goal of the regulator is first to offer some income support depending on collective preferences towards income redistribution and second to internalize...

The average investor reaction is neutral to primary offerings by firms with managerial incentives closely tied to the shareholder value. Investors react negatively (1) when there are insufficient managerial ownership stakes to deter misuse of SEO proceeds and (2) when there are negative signals...

In the extant supply-risk management literature, most research assumes the manufacturer is as knowledgeable about supply disruption risk as its suppliers. In practice, however, a supplier often has better information about its likelihood of experiencing a disruption than the manufacturer it...

This paper analyzes a unit-contingent power purchase agreement between an electricity distributor and a power plant. Under such a contract the distributor pays the plant a fixed price if the plant is operational and nothing if plant outage occurs. Pricing a unit-contingent contract is...

We study firm reputation as a mechanism to assure product quality in perfectly competitive marketsin a context in which both certification and trademarks are available. Shapiro’s (1983) model ofreputation is extended to reflect both collective and firm-specific reputations, and this framework...

Many conservation programs offer financialcompensation to farmers in exchange for socially desiredservices, such as soil conservation or biodiversity protection.Realization of the conservation objective at minimum costrequires payments to just cover the extra costs incurred byeach individual...

We analyze the role of intermediaries in electronic markets using detailed data of more than 14,000 originated loans on an electronic P2P (peer-to-peer) lending platform. In such an electronic credit market, lenders bid to supply a private loan. Screening of potential borrowers and the...