This paper analyses the interaction between exploiting and further investing in dynamic capabilities during a crisis, taking the prevailing COVID-19 pandemic as case study. In line with Wenzel et al. (2020), we show that exploiting, and investing in, capabilities act as complement to boost...

A production function model with efficient bargaining between oligopolistic firms and unions is developed to distinguish between product market power and union power in capturing economic rents. The model is formalised using the generalized Nash bargaining solution, and is empirically tested on...

A production function model with efficient bargaining between oligopolistic firms and unions is developed to distinguish between product market power and union power in capturing economic rents. The model is formalized using the generalized Nash bargaining solution and is empirically tested on...

The relationship between the CAPM firm beta and the firm's microeconomic decisions is studied by a model under uncertainty, which combines the feature of an ex ante "inputs substituable" production technology and the existence of a union which bargains over various economic dimensions of the...