This study examines the determinants of time-varying return volatility of Africa's equity markets using monthly indices of eight top African stock markets. The conditional variance is modelled as a proxy for Africa's volatility indices using the best fitting model among SGARCH, EGARCH and...

What information should courts utilize when assessing contract damages? Should they award damages that were rationally foreseeable at the ex ante stage (ex ante expected damages)? Or should they award damages at the ex post level, incorporating new information revealed after contracting (ex post...

We briefly review the relevant economic theories and legal treatment of vertical restraints, and especially focus on the 1977 landmark case of Sylvania and its possible influence on China's antitrust enforcement on vertical restraints. China's competition policy, and particularly its...

We study the duopoly exit equilibrium in a multimarket environment with declining demand, and investigate the roles of strategic merger, agency cost, and collusion in a multimarket exit game.Cross-market spillovers with endogenous duration and the strategic merger of outside firms can serve as...

The severe hurricane seasons of 2004 and 2005 and the resulting losses are prompting insurers to reassess their risk and business strategies in Southeastern states. This article examines recent trends in the affected homeowners insurance markets and discusses how these markets are likely to...

We model a dual-channel supply chain consisting of one manufacturer and one retailer, and consider two scenarios — under one scenario the manufacturer solely provides the information service and under the other the retailer solely provides the information service. Both the manufacturer's and...

Using a vertically related multi-layer newsvendors framework this paper analyzes the impacts of market uncertainties and asymmetric information between firms at successive stages of a supply chain on their optimal stocking (and/or pricing) decisions. The asymmetric information along the supply...

We investigate the interaction between the law’s prohibition of recovery for unrequested benefits, and parties’ incentives at the ex ante stage to acquire information about the harms or benefits of the activities they consider engaging in. We analyze the impact of these interactions on the...

To study the applicability of the Porter hypothesis to Chinese manufacturing enterprises from a property rights perspective, we match the financial data of all A-share manufacturing companies listed in Shanghai and Shenzhen Stock Exchanges of China from 2008 to 2016 with the marketization index...