摘要:

AbstractThis paper presents a mathematical programming model for numerically analyzing the impacts of a transferable discharge permit (TDP) system on resource allocation and the distribution of income in a competitive equilibrium setting. Key assumptions of the model are linear household commodity demands, Leontief production functions requiring both primary and produced factors, fixed primary factor supplies and linear pollution dispersion processes. A basic model is presented with discussion of how it may be modified to examine alternative TDP configurations. In addition, there is also a discussion of relationships between key primal and dual variables and of issues involved in actual numerical implementation of the model.

ISSN:0143-6570    

DOI:10.1002/mde.4090080402

出版商:John Wiley&Sons, Ltd.    

年代:1987

数据来源: WILEY

摘要:

AbstractThe results of a survey of the research, design and development activity of firms listed on the UK Unlisted Securities Market are reported. The significance of different corporate objectives, types of market structure, forms of rivalry, different groups as project initiators, and techniques of project evaluation, is reported. Technically progressive firms could not be distinguished from less technically progressive firms using univariate tests. Multiple discriminant analyses indicated that technically progressive firms operate in markets where products characteristics and advertising are significant forms of rivalry, the growth rate of profits is more important as a corporate objective and the significance of interdepartmental committees as an initiating group is higher than for less technically progressive firms. The latter firms judged price competition and the objective of achieving a target level of units sold as more significant than the former group.

ISSN:0143-6570    

DOI:10.1002/mde.4090080403

出版商:John Wiley&Sons, Ltd.    

年代:1987

数据来源: WILEY

摘要:

AbstractThis paper examines the penetration by Japanese firms of the US and West European colour television markets, initially by exports and then, predominantly, by local production. It is demonstrated that Japanese foreign direct investment was basically a defensive response to trade barriers erected in these markets to re‐locate Japanese plant from Japan and other Asian locations. A strategic oligopolistic imitative behaviour, rather than an orchestrated strategy, is identified, and a comparison is made of the effect of trade barriers in each region on industry structure and plant siz

ISSN:0143-6570    

DOI:10.1002/mde.4090080404

出版商:John Wiley&Sons, Ltd.    

年代:1987

数据来源: WILEY

摘要:

AbstractRecent studies show firms suffering drug recalls experience security losses many times larger than any reasonable measure of their direct cost. We discover that the implied standard deviation of stock returns from the Black‐Scholes option pricing model significantly increases after a drug recall. The implied standard deviation provides a good proxy for the stock'sex antebeta. The higher systematic risk after a product recall must raise the discount rate used by investors. After a recall, stock prices are reduced in line with the lower expected future earnings and are further reduced because of a higher discount rat

ISSN:0143-6570    

DOI:10.1002/mde.4090080405

出版商:John Wiley&Sons, Ltd.    

年代:1987

数据来源: WILEY

摘要:

AbstractThe expected value of information represents the maximum amount the decision maker should spend on inquiry before making a decision. This amount depends upon the accuracy of the information. In many cases of inquiry, prior objective knowledge of the accuracy is not available. This paper presents and compares two methods of subjectively assessing the value of imperfect information in the binary decision model. In the first method, the decision maker provides a likelihood function for the inquiry and hence the probabilities of error. The second method is the preposterior approach, in which the decision maker provides the prior distribution for the posterior probability.

ISSN:0143-6570    

DOI:10.1002/mde.4090080406

出版商:John Wiley&Sons, Ltd.    

年代:1987

数据来源: WILEY

摘要:

AbstractPrevious empirical research has demonstrated that political factors do affect the foreign direct investment decisions of multinational enterprises. This study explores the nature of this relationship in more depth. Specifically, it examines the extent to which investors response to political conflict and co‐operation is asymmetric, i.e. investors respond differently depending on whether the political conflict or cooperation is increasing or decreasing. The asymmetric response hypothesis is tested through regression analysis of pooled time‐series (13 years) and cross‐sectional (62 countries) data on Japanese investors. The study finds evidence of asymmetry for intra‐nation conflict and co‐operation but not for inter‐nation conflict and c

ISSN:0143-6570    

DOI:10.1002/mde.4090080407

出版商:John Wiley&Sons, Ltd.    

年代:1987

数据来源: WILEY

摘要:

AbstractThis paper presents a principal‐agent model of pension policy in a world with permanent pension plans and no taxes. Firm managers, as agents of stockholders, choose pension policy to maximize their own welfare. Stockholders, aware of this self‐interested behavior, select the optimal linear risk‐sharing compensation program to induce conformance of manager actions to stockholder intersts. The paper develops the optimal linear risk‐sharing compensation program and pension policy. The comparative static changes in pension policy for a simple case are found and compared to the empirical findings of other researchers. It is argued that the principal‐agent hypothesis provides an explanation for the heretofore unexplained empirical regularities of thos

ISSN:0143-6570    

DOI:10.1002/mde.4090080408

出版商:John Wiley&Sons, Ltd.    

年代:1987

数据来源: WILEY

ISSN:0143-6570    

DOI:10.1002/mde.4090080409

出版商:John Wiley&Sons, Ltd.    

年代:1987

数据来源: WILEY

摘要:

AbstractThis paper argues that dominant firms (those firms which, according to the theory, can tolerate inefficiency) face a number of external and internal constraints which force them to act more like the competitive firm assumed in neoclassical theory.

ISSN:0143-6570    

DOI:10.1002/mde.4090080410

出版商:John Wiley&Sons, Ltd.    

年代:1987

数据来源: WILEY

摘要:

AbstractUnited States industry faces an import threat in the domestic market because foreign exporters achieve lower growth in their unit labor dollar cost. A deterministic analysis of the sources of change over the decade 1974–84 shows that although most foreign trade partners experienced a higher rate of growth in hourly labor compensation than the United States, they discounted this cost disadvantage by achieving more than offsetting cost reductions from growth in labor productivity and in the foreign currency to US dollar exchange rat

ISSN:0143-6570    

DOI:10.1002/mde.4090080411

出版商:John Wiley&Sons, Ltd.    

年代:1987

数据来源: WILEY