Companies are increasingly choosing to procure their power from renewable energy sources, with their own set of potential challenges. In this paper we focus on contracts to procure electricity from renewable sources that are inherently unreliable (such as wind and solar). We determine the...

In times of digitalization, firms increasingly need to form alliances due to the higher complexity and greater dynamics of markets. Digital innovation poses challenges for established institutions (e.g., banks) in adapting to changing rules that are set by new competitors and higher customer...

In a wide range of circumstances, relational contracts can enable strategies that might not otherwise be possible. While most studies focus on the maintenance and performance of existing relational contracts, this paper explores the origins of interfirm relational contracts, focusing on how...

The article evaluates the impact of clusters on innovation outputs in the regions of the Czech Republic. The research was divided into four main phases. An overview of all institutionalised clusters in the Czech Republic, including innate clusters, was compiled in the first phase. Location...

This study examines the role of the Indian diaspora in the outsourcing of work to India. Our data are taken from oDesk, the world's largest online platform for outsourced contracts, where India is the largest country in terms of contract volume. We use an ethnic name procedure to identify ethnic...

Theoretical and empirical analyses have, as yet, shed very little light on the role of ICT standards consortia in the standard setting landscape. Standards consortia are private industry alliances of likeminded organizations that share the same interest to sponsor, develop and standardize...

A point repeatedly stressed by transaction cost economics is that the more specific the asset, the more likely is vertical integration to be optimal. In spite of the profusion of empirical papers supporting this prediction, recent surveys and casual observation suggest that higher levels of...

We assemble a novel firm-level dataset to study the adoption and termination of suppliers over business cycles. We document that the aggregate number and rate of adoption of suppliers are procyclical. The rate of termination is acyclical at the aggregate level, and the cyclicality of termination...

En los contratos de construcción de infraestructura de servicios públicos, el sector privado tiene fuertes incentivos para reducir los costos durante la vida del proyecto, lo que afecta la calidad de la prestación. En este trabajo se extiende el modelo de Hart para evaluar las ventajas de la...