Most of the operations management literature assumes that the firm can always finance production decisions at an optimal level or borrow at a constant interest rate; however, operational decisions are constrained by limited capital and often critically depend on external financing. This paper...

While firm growth critically depends on financing ability and access to external capital, the operations management literature seldom considers the effects of financial constraints on the firms' operational decisions. Another critical assumption in traditional operations models is that corporate...

The goal of this paper is to examine the effects of different ownership structures and of the quality of corporate governance on the Farrell measure of efficiency. Data Envelopment Analysis and Limited Dependent Variable Estimations are applied to the set of Ukrainian joint-stock companies...

In this study, we look for empirical support for the hypothesis that there is a positive relationship between the levels of corporate governance quality across firms and the relative efficiency levels of these firms. This hypothesis is related to Liebenstein's idea of X-efficiency. We use the...

Empirical findings from publicly traded firms and behavioral theory arguments suggest a positive influence of resource slack on financial performance. While this area has remained unexplored in privately held firms, conceptual arguments indicate that resource constraints may serve to enhance...

How do policy and performance of firms change with variations in the stakeholder approach? We compare foundation owned firms (FoFs) and family firms, with and without codetermination. As foundations have no owners, the impact on corporate governance of residual claimants might be weaker and the...

In the Indian context, the service sector has played an important role in the development of the economy since reforms in 1991, and is expected to continue to contribute significantly to the growth in the economy in the coming decades. With this rationale, service firms were selected for the...

I analyze the effect of stronger creditor rights on productivity, using U.S. Census microdata. Following the adoption of anti-recharacterization laws that give lenders greater access to the collateral of firms in financial distress, total factor productivity of treated plants increases by 2.6...

This paper examines the relationship between dividend-based and earnings-based cost of equity capital estimates under temporary competitive advantage. A new insight is that the true cost of equity is shown to approach the geometric mean of the supernormal dividend-based and simple earnings-based...