Publications des institutions partenaires
Specific investment and negotiated transfer pricing in an international transfer pricing model
We study the efficiency of negotiated transfer pricing for solving a bilateral hold-up problem in a multinational enterprise. We show that negotiated transfer pricing will generally not provide incentives for an efficient renegotiation of the initial contract and efficient investments because the divisions possess only one instrument for solving two problems. Either they minimize…
Institution partenaire
English / 01/01/2013
Specific investment and negotiated transfer pricing in an international transfer pricing model
We study the efficiency of negotiated transfer pricing for solving a bilateral hold-up problem in a multinational enterprise. We show that negotiated transfer pricing will generally not provide incentives for an efficient renegotiation of the initial contract and efficient investments because the divisions possess only one instrument for solving two problems. Either they minimize…
Institution partenaire
English / 01/01/2013
Heterogeneous Returns to Education Over the Wage Distribution: Who Profits the Most?
Institution partenaire
English / 01/01/2013
Why do corporate actors engage in pro-social behavior? A Bourdieusian perspective on CSR
Drawing on Pierre Bourdieu’s theory of social practice, this article develops a novel approach to the study of corporate social responsibility (CSR). According to this approach, pro-social activities are conceptualized as social practices that individual managers employ in their efforts to attain social power. Whether such practices are enacted or not depends on (1) the particular…
Institution partenaire
English / 01/01/2013
Aubin property and uniqueness of solutions in cone constrained optimization
We discuss conditions for the Aubin property of solutions to perturbed cone constrained programs, by using and refining results given in Klatte-Kummer "Nonsmooth Equations in Optimization", Kluwer, 2002. In particular, we show that constraint nondegeneracy and hence uniqueness of the multiplier is necessary for the Aubin property of the critical point map. Moreover, we give…
Institution partenaire
English / 01/01/2013
Theory matters for financial advice!
We show that the optimal asset allocation for an investor depends crucially on the theory with which the investor is modeled. For the same market data and the same client data different theories lead to different portfolios. The market data we consider is standard asset allocation data. The client data is determined by a standard risk profiling question and the theories we apply are…
Institution partenaire
English / 01/01/2013
Margin Regulation and Volatility
In this paper we examine the quantitative effects of margin regulation on volatility in asset markets. We consider a general equilibrium infinite-horizon economy with heterogeneous agents and collateral constraints. There are two assets in the economy which can be used as collateral for short-term loans. For the first asset the margin requirement is exogenously regulated while the…
Institution partenaire
English / 01/01/2013
Explaining cooperative enterprises through knowledge acquisition outcomes
This paper develops a model of a cooperative enterprise and compares it to a vertically separated market. In our model of a multi-stage production process, agents can acquire costly knowledge to decrease production costs. Our model shows that the cooperative acquires less non-generalizable knowledge than the market, but more generalizable knowledge if the large member in the…
Institution partenaire
English / 01/01/2013
Essays on organizational search and adaptation in complex environments
Institution partenaire
English / 01/01/2013
Advertising pricing models in media markets: Lump-sum versus per-consumer charges
Based on a model of asymmetric competition between a pay and a free media platform, this paper investigates advertising pricing models. The pay media platform generates revenues from media consumers through subscription fees, while the free media platform generates revenues from charging advertisers either on a lump-sum basis (regime A) or on a per-consumer basis (regime B). We show…
Institution partenaire
English / 01/01/2013
Incentive effects of bonus taxes in a principal-agent model
Several countries have implemented bonus taxes for corporate executives in response to the current financial crisis. Using a principal-agent model, this paper investigates the incentive effects of bonus taxes by analyzing the agent's and principal's behavior. Specifically, we show how bonus taxes affect the agent's incentives to exert effort and the principal's…
Institution partenaire
English / 01/01/2013
International R&D and Manufacturing Networks: Dynamism, Structure and Absorptive Capacity
We analyze the absorptive capacity (AC) process of a manufacturing company with central R&D and an internationally distributed manufacturing network. Prior research shows that an implementation of the lead factory (LF) is especially supportive if the international manufacturing network struggles with implementing new products and processes. We analyze determinants of AC and show…
Institution partenaire
English / 01/01/2013
Shareholder votes and proxy advisors: Evidence from say on pay
We investigate the economic role of proxy advisors (PAs) in the context of mandatory “say on pay” votes, a novel and complex item requiring significant firm-specific analysis. PAs are more likely to issue an Against recommendation at firms with poor performance and higher levels of CEO pay and do not appear to follow a “one-size-fits-all” approach. PAs’ recommendations are the key…
Institution partenaire
English / 01/01/2013
Product market competition, corporate governance, and firm value: Evidence from the EU -area
This paper investigates whether the valuation effect of corporate governance depends on the degree of competition in the companies’ product markets in a large international sample covering 14 countries from the European Union (EU). Besides providing external validity of previous US-centred studies, this paper uses more comprehensive and reliable measures of both product market…
Institution partenaire
English / 01/01/2013
Exploring the 4I framework of organisational learning in product development: value stream mapping as a facilitator
Organisational learning (OL) that enhances efficiency and the continuous improvement of processes is a key objective of lean product development and has become an important principle of new product development (NPD). Therefore, it is critical for an organisation to capture individuals’ and groups’ knowledge and learning about processes, institutionalise it, and deploy it organisation…
Institution partenaire
English / 01/01/2013
Key drivers for enhancing innovation performance of innovation networks
This research article provides empirical insights on the key drivers for successful internal and external innovation network management. The hypotheses are tested empirically using survey data collected from stock-listed companies in Germany, Switzerland and Austria. The data include the complete responses from 141 R&D managers for the period from 2004 to 2008. Our results show…
Institution partenaire
English / 12/12/2012
Outsourcing and vertical integration: FIFA’s strategy of promoting the World Cup broadcasting rights
Institution partenaire
English / 01/01/2012
The normative foundation of finance: How misunderstanding the role of financial models distorts the way we think about the responsibility of financial economists
The financial crisis has fueled a heated debate about the responsibility of financialeconomists. Critics such as Paul Krugman, Robert Shiller, and David Colander arguethat financial economists have developed useless or even harmful theories. This isan important debate, but it suffers from the fact that the role of financial theoriesremains unclear. In this chapter we enter the field…
Institution partenaire
English / 01/01/2012
Executive Perceptions: Probing the Institutionalization of Organizational Downsizing
Downsizing is one of the most frequently used business strategies for reducing costs, returning firms to profit or for restructuring businesses following takeovers, mergers and acquisitions. Downsizing measures are also set to become much more prevalent in the public sector as governments seek to restrict levels of public spending. This book is one of the first to provide a thorough…
Institution partenaire
English / 01/01/2012
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