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Strategy & Microeconomic Policy eJournal最新文献

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Assessing Potential Competition in Antitrust Markets 评估反垄断市场的潜在竞争
Strategy & Microeconomic Policy eJournal Pub Date : 2013-08-09 DOI: 10.2139/ssrn.2127459
Vivek Ghosal
{"title":"Assessing Potential Competition in Antitrust Markets","authors":"Vivek Ghosal","doi":"10.2139/ssrn.2127459","DOIUrl":"https://doi.org/10.2139/ssrn.2127459","url":null,"abstract":"The book aims to further our understanding of how economic reasoning and legal expertise complement each other in defining the fundamental issues and principles in competition policy. In specially commissioned chapters the book provides a scholarly review of economic theory, empirical evidence and standards of legal evaluation with respect to monopolization of markets, exploitation of market power and mergers, among other issues.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"125 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116048700","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Strategies for Firm Growth 企业成长策略
Strategy & Microeconomic Policy eJournal Pub Date : 2013-07-24 DOI: 10.2139/ssrn.2297938
Alex Coad
{"title":"Strategies for Firm Growth","authors":"Alex Coad","doi":"10.2139/ssrn.2297938","DOIUrl":"https://doi.org/10.2139/ssrn.2297938","url":null,"abstract":"Strategies for firm growth vary in terms of their degrees of novelty, uncertainty, and synergy. Modes of firm growth include replication (growth by ‘more of the same’), diversification, and internationalization. Growth strategies can be implemented using organic growth or through acquisitions. Desire to grow is a necessary but insufficient condition for growth – what also counts is the availability of growth opportunities. Empirical work has shown that growth is largely random – hence, hard to predict. Sustained growth is rare. Firms cannot always translate their ambitions into growth, but should pay attention to critical ‘decision points.’","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"80 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127624360","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Misaligned Bank Executive Incentive Compensation 失调的银行高管激励薪酬
Strategy & Microeconomic Policy eJournal Pub Date : 2013-06-11 DOI: 10.2139/SSRN.2277917
Sanjai Bhagat, B. Bolton
{"title":"Misaligned Bank Executive Incentive Compensation","authors":"Sanjai Bhagat, B. Bolton","doi":"10.2139/SSRN.2277917","DOIUrl":"https://doi.org/10.2139/SSRN.2277917","url":null,"abstract":"We study the executive compensation structure in 14 of the largest U.S. financial institutions during 2000-2008. We focus on the CEO’s purchases and sales of their bank’s stock, their salary and bonus, and the capital losses these CEOs incur due to the dramatic share price declines in 2008. We consider three measures of risk-taking by these banks. Our results are mostly consistent with and supportive of the findings of Bebchuk, Cohen and Spamann (2010), that is, managerial incentives matter - incentives generated by executive compensation programs led to excessive risk-taking by banks.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122225576","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Strategic Behavior in Online Reputation Systems: Evidence from Revoking on eBay 网络声誉系统中的战略行为:来自eBay撤销的证据
Strategy & Microeconomic Policy eJournal Pub Date : 2013-06-09 DOI: 10.2139/ssrn.1975124
Shun Ye, G. Gao, S. Viswanathan
{"title":"Strategic Behavior in Online Reputation Systems: Evidence from Revoking on eBay","authors":"Shun Ye, G. Gao, S. Viswanathan","doi":"10.2139/ssrn.1975124","DOIUrl":"https://doi.org/10.2139/ssrn.1975124","url":null,"abstract":"This study examines how sellers respond to changes in the design of reputation systems on eBay. Specifically, we focus on one particular strategic behavior on eBay's reputation system: sellers' explicit retaliation against negative feedback provided by buyers to coerce buyers into revoking their negative feedback. We examine how these strategic sellers respond to removal of their ability to retaliate against buyers. We utilize one key policy change of eBay's reputation system, which provides a natural experimental setting that allows us to infer the causal impact of the reputation system on seller behavior. Our results show that coercing buyers to revoke their negative feedback through retaliation enables low-quality sellers to manipulate their reputations and masquerade as high-quality sellers. We find that these sellers reacted strongly to eBay's announcement of a proposed ban on revoking. Interestingly, after the power of these strategic sellers is curtailed, we find evidence that they exert more efforts to improve their reputation scores. This study provides valuable insights about the relationship between reputation system and seller behavior, which have important implications for the design of online reputation mechanisms.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125364282","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 45
Success in Entrepreneurship: Doing the Math 成功创业:做数学
Strategy & Microeconomic Policy eJournal Pub Date : 2013-05-16 DOI: 10.2139/ssrn.2429425
M. Kremer, Jonathan Robinson, Olga Rostapshova
{"title":"Success in Entrepreneurship: Doing the Math","authors":"M. Kremer, Jonathan Robinson, Olga Rostapshova","doi":"10.2139/ssrn.2429425","DOIUrl":"https://doi.org/10.2139/ssrn.2429425","url":null,"abstract":"This paper examines the association between entrepreneurial success and firm and owner characteristics, in the context of the small retail sector in Western Kenya. Earlier work finds very high rates of return to inventories. Inventories are positively associated with math skills. Since inventories and profits are positively correlated, math skills predict profits as well. Math skills are also robustly correlated with profits conditional on inventories.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"84 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132748027","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
CEO After-Tax Compensation Incentives and Corporate Tax Avoidance CEO税后薪酬激励与企业避税
Strategy & Microeconomic Policy eJournal Pub Date : 2013-05-14 DOI: 10.2139/ssrn.1524390
Fabio B. Gaertner
{"title":"CEO After-Tax Compensation Incentives and Corporate Tax Avoidance","authors":"Fabio B. Gaertner","doi":"10.2139/ssrn.1524390","DOIUrl":"https://doi.org/10.2139/ssrn.1524390","url":null,"abstract":"I examine the association between CEOs’ after-tax incentives and their firms’ level of tax avoidance. Economic theory holds that firms should compensate CEOs on an after-tax basis when the expected tax savings generated from additional incentive alignment outweigh the incremental compensation demanded by CEOs for bearing additional tax-related compensation risk. Using hand-collected data from proxy statements, I find a negative relation between the use of after-tax incentives and effective tax rates. I also find a positive association between the use of after-tax incentives and CEO cash compensation, suggesting that CEOs who are compensated on an after-tax basis demand a premium for bearing additional risk.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-05-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128362656","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 195
Mega-Projects' Cost Performance and Lock-In: Problems and Solutions 大型项目的成本绩效与锁定:问题与解决方案
Strategy & Microeconomic Policy eJournal Pub Date : 2013-05-01 DOI: 10.4337/9781781002308.00023
C. Cantarelli, B. Flyvbjerg
{"title":"Mega-Projects' Cost Performance and Lock-In: Problems and Solutions","authors":"C. Cantarelli, B. Flyvbjerg","doi":"10.4337/9781781002308.00023","DOIUrl":"https://doi.org/10.4337/9781781002308.00023","url":null,"abstract":"A major problem in the planning of mega-projects is the high level of misinformation about costs (and benefits) that decision-makers face in deciding whether to build and the high risks such misinformation generates. The inaccuracy of construction cost estimates is typically measured as the size of cost overrun. There are many well-known mega-projects with major cost overruns. One of the most famous ‘project disasters’ in this respect is the Channel Tunnel. This undersea rail tunnel linking the United Kingdom and France is the longest of its kind in Europe with a length of about 50 km. Construction costs increased from £2600 million to £4650 million (1985 prices), which is 80 per cent higher than the forecasted costs (Flyvbjerg et al., 2003a). Another well-known mega-project failure is the Central Artery/Tunnel project in Boston, USA, also known as the ‘Big Dig’ or Big Dug’ due to persistent tunnel leaks. This large and complex underground highway project suffered a cost overrun of US $11 billion or 275 per cent (Flyvbjerg, 2007). Bangkok’s underground subway was 67per cent over budget. Many other examples of projects with cost overruns exist, for example, the Great Belt link in Denmark (54 per cent overrun),the Humber Bridge in the UK (175 per cent overrun) and the Paris Nord TGV in France (25 per cent overrun) (Flyvbjerg et al., 2003a). Cost overruns appear to be a global phenomenon, existing across 20 nations on five continents (Flyvbjerg et al., 2003b).","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116568081","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 16
Multi-Product Marginal Productivity of Efficient Frontiers in Data Envelopment Analysis 数据包络分析中有效前沿的多产品边际生产率
Strategy & Microeconomic Policy eJournal Pub Date : 2013-03-03 DOI: 10.2139/ssrn.2227565
Chia-Yen Lee
{"title":"Multi-Product Marginal Productivity of Efficient Frontiers in Data Envelopment Analysis","authors":"Chia-Yen Lee","doi":"10.2139/ssrn.2227565","DOIUrl":"https://doi.org/10.2139/ssrn.2227565","url":null,"abstract":"Differential characteristics of the production function represent elasticity measures and marginal rates of production technologies. We extend the study by Podinovski and Forsund (2010) and develop multi-product marginal productivity (MP) by showing a consistent estimation of MP generated by data envelopment analysis (DEA), convex nonparametric least squares (CNLS), and directional distance function (DDF). Based on multi-product MP, a meta-DEA approach is developed to address finding the improving direction of the efficient firm on the frontier towards the allocatively efficient benchmarks for marginal profit maximization. This approach, which emphasizes “planning” over “evaluation” and focus on “margin” than “level”, forms the basis for transforming a typical “ex-post” DEA into a novel “ex-ante” DEA study. Two case studies show that the proposed model provides an explicit span of multi-product MP for productivity improvement via a tradeoff between distinct directions.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132041729","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Social Capital and Innovation in R&D Teams: The Mediating Roles of Psychological Safety and Learning from Mistakes 社会资本与研发团队创新:心理安全和错误学习的中介作用
Strategy & Microeconomic Policy eJournal Pub Date : 2013-03-01 DOI: 10.1111/radm.12002
Qinxuan Gu, Greg G. Wang, Lihong Wang
{"title":"Social Capital and Innovation in R&D Teams: The Mediating Roles of Psychological Safety and Learning from Mistakes","authors":"Qinxuan Gu, Greg G. Wang, Lihong Wang","doi":"10.1111/radm.12002","DOIUrl":"https://doi.org/10.1111/radm.12002","url":null,"abstract":"The relationship between social capital and R&D team innovation has received increasing attention in the literature. However, little is known about the mechanisms between the two. This study aims to narrow the gap by investigating the mediating roles of psychological safety and learning from mistakes between the three dimensions of social capital and innovation at team level. Our sample comprised 151 R&D teams with 585 members from nine Chinese high-tech companies. The results showed that psychological safety and learning from mistakes (LFM) partially mediated the relationship between the structural and cognitive capital and innovation in R&D teams, and fully mediated the relationship between the relational capital and innovation in R&D teams. We further discussed subsequent managerial implications and future research directions.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"154 5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131387593","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 78
Managing Technology Development Teams – Exploring the Case of Microsytems and Nanosystems 管理技术开发团队--微系统和纳米系统案例探讨
Strategy & Microeconomic Policy eJournal Pub Date : 2013-03-01 DOI: 10.1111/radm.12008
N. Burger, T. Staake, E. Fleisch, C. Hierold
{"title":"Managing Technology Development Teams – Exploring the Case of Microsytems and Nanosystems","authors":"N. Burger, T. Staake, E. Fleisch, C. Hierold","doi":"10.1111/radm.12008","DOIUrl":"https://doi.org/10.1111/radm.12008","url":null,"abstract":"New sensor and actuator concepts based on microelectromechanical systems (MEMS) and nanoelectromechanical systems (NEMS) are increasingly being developed from lab status toward commercialization. The associated technology development for the provision of improved functionalities and cost reduction often requires highly interdisciplinary development teams where scientists and engineers from different disciplines closely work together. Managing these teams is a key challenge for MEMS/NEMS organizations. This research examined eight technology developments in MEMS/NEMS in international companies. Based on in‐depth interviews with innovators, we explored the managerial aspects of development teams. We identified and discuss (1) leadership, (2) market, (3) team structure and culture, (4) innovation motivation, (5) innovation driver, (6) experience and know‐how, and (7) product vision and innovation strategy as key influences on teams in the early development phases of MEMS/NEMS. Our study reveals that integrative and manufacturing know‐how and capabilities are the most critical capacities to be developed by the team from the idea to the concept phase. The team's lived experience during long development times from 5 to 10 years or more may allow a fast response to changes from market and technology (e.g. materials and nanotechnology). The results indicate that the process of how know‐how and capabilities are created by the team is more important than the mere existence of specific expertise.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130911453","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
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