Dealers in over-the-counter securities form networks to mitigate search frictions. The audit trail for municipal bonds shows the dealer network has a core-periphery structure. Central dealers are more efficient at matching buyers and sellers than peripheral dealers, which shortens intermediation...

In this paper, we use the recent collapse of the ARS market as a case study on important issues regarding fragility of financial innovations and systemic risks. We find strong evidence of investor runs for liquidity, partly caused by a self-fulfilling panic. In addition, coordination failures...

Cross-border acquisitions may be a primary mode for accessing novel knowledge and the building up of knowledge capabilities. However, the successful exploration of novel business and/or location knowledge may require specific structural forms for the incorporation and internal transfer to occur....

Based on a case study of a Portuguese packaging firm, this paper examines how vertical integration of the supplier serves as a vehicle for the full outsourcing of the client firms' needs in a solution that reduces transaction costs, favors specialization, and permits small and mediumsized firms...

Much theory and research that seeks to explain why and how technology transfers occur within multinational enterprises (MNEs) actually addresses the question of how these transfers occur among cooperative subsidiaries, and relies on the assumption of inter-subsidiary cooperation. However,...

The International Business Environment (IBE) is argued to be the essential context for international business (IB) studies and the distinguishing factor from other management studies, and from studies of large scale enterprises. In this paper we argue for a greater environmental focus and...

Because stock markets in emerging economies are relatively new, under-regulated, and often segmented, investors' responses to public announcements by firms in these economies may differ from responses in developed economies' stock markets. We draw on the institutional and corporate governance...

Dealers in over-the-counter securities form networks to mitigate search frictions. The audit trail for municipal bonds shows the dealer network has a core-periphery structure. Central dealers are more efficient at matching buyers and sellers than peripheral dealers, which shortens intermediation...