This paper compares assets-based portfolio management fees to profits-based fees. Whilst both forms of compensation can provide appropriate risk incentives, fund managers´ limited liability induces more excess risk-taking under a profits-based fee contract. On the other hand, an assets-based...

The objective of our work is to analyze the evolution and actual trends of research in Supply Chain Management (SCM). We pretend to show how the different topics have been methodologically studied, and to determine how the advent of the so-called ‘New Economy’ has influenced SCM research. To...

Unionization imposes substantial costs on employers. This paper develops a model that recognizes that, as a result, employers will set wages and employment taking into account the effect of their decisions on workers' incentives to organize. This model of employer behavior allows us to address...

This paper studies the impact and effectiveness of a type of non-price promotion often used in the European periodical magazines industry to stimulate sales, in which a value pack is sold containing the magazine issue plus another product. Magazines are sold simultaneously with and without...

The equivalence between the absence of arbitrage and the existence of an equivalent martingale measure fails when an infinite number of trading dates is considered. By enlarging the set of states of nature and the probability measure through a projective system of topological spaces and Radon...

In this article, we evaluate the influence that employment promotion measures designed for disabled people have on the latter’s job matching quality through the use of matching analysis. We focus on two aspects of quality: the type of contract held (either permanent or temporary) and whether...

This paper addresses the equivalence between the absence of arbitrage and the existence of equivalent martingale measures. The equivalence will be established under quite weak assumptions since there are no conditions on the set of trading dates (it may be finite or infinite, with bounded or...

The aim of this paper is twofold: First to test the adequacy of Pareto distributions to describe the tail of financial returns in emerging and developed markets, and second to study the possible correlation between stock market indices observed returns and return’s extreme distributional...

Outlet location plays a crucial role in retail strategy. In this paper we study the relationship between spatial density (concentration) of retailers in the trade area and their economic performance. This analysis will help managers figure out the economic potential of starting a retail business...

Licensing entails a tradeoff: licensing payments net of transaction costs (revenue effect) have to be balanced against the lower price-cost margin and/or reduced market share that the increased competition (profit dissipation effect) from the licensee implies. We argue that the presence of...