摘要:

AbstractWe analyze the classical investment and pricing problem of a dominant firm faced with competition from substitute industries or marginal firms in the same field. The firm owns a finite level of a resource (e.g. the stock of an exhaustible one), the consumption of which is to be divided optimally over a finite planning horizon. The competitors' measures affect the demand for the resource towards the dominating firm. Rising crude oil prices and investments in forms of alternative energy are representative examples of the strategic questions which involve competitive and contradictory interests among firms within an industry. The investment and pricing problem can be solved analytically only with strong, simplifying assumptions. To make the analysis simpler and to relax these restrictions, we combine a series of numerical tools, computerize them, and build up a user‐oriented, computerized decision aid, which we call a ‘computerized approach’. We solve the problem under different sets of theoretical assumptions. This chosen incremental theory building allows us to study the theoretical sensitivity of the original pr

ISSN:0143-6570    

DOI:10.1002/mde.4090130502

出版商:John Wiley&Sons, Ltd.    

年代:1992

数据来源: WILEY

摘要:

AbstractThis paper analyzes a point in‐point out inventory investment under price uncertainty. The optimal quantity is determined by maximizing the expected value of the investor's risk preference function, which is a function of profit. Using an exponential risk preference function, the adjustment in the optimal quantity stemming from a change in the interest rate is investigated. The main conclusion is that the sign of the adjustment depends both on how profit is expressed and on the type of price distribution applied. Contrary to what is assumed in conventional managerial control practices, a rise in the interest rate might lead to an increase in the optimal quantity when present value serves as a measure of profi

ISSN:0143-6570    

DOI:10.1002/mde.4090130503

出版商:John Wiley&Sons, Ltd.    

年代:1992

数据来源: WILEY

摘要:

AbstractThis paper provides a framework for measuring the terms‐of‐trade effect for an enterprise. This effect is the impact on the organization of changes in input to output prices as well as in the prices of goods and service upon which the income is utilized. The measurement of the effect is outlined with illustrative data and applied to the German Telecom sector, which has suffered particularly badly through adverse relative price changes. The case study of the German Telecom sector is also used to introduce the concept of real income. The framework advocated is argued to be particularly useful, since it allows not only the effectsex postof relative price movements to be evaluated, but also the effectsex anteof particular spending scenarios to be simulated (for example, investment). As such, it should be a useful addition to the ‘toolbag’ of managerial eco

ISSN:0143-6570    

DOI:10.1002/mde.4090130504

出版商:John Wiley&Sons, Ltd.    

年代:1992

数据来源: WILEY

摘要:

AbstractIn capital budgeting with technology choice and demand fluctuations errors can arise if managers unitize fixed costs and do not make proper allowance for expected idle capacity. In a standard‐cost system, managers and accountants should use as the standard cost E(AC), the expected average cost, employing a procedure shown in the paper. Managers should compare E(AC) and the short‐run‐average‐cost minimum, an output‐flexibility indicator proposed by the author. The more output flexible is the equipment, the less of an increase in costs to a firm if there are wider fluctuations in output rates tha

ISSN:0143-6570    

DOI:10.1002/mde.4090130505

出版商:John Wiley&Sons, Ltd.    

年代:1992

数据来源: WILEY

摘要:

AbstractManufacturers are faced with three options for disposing of excess finished items: they can (1) continue to mark down the item until it sells; (2) dispose of or scrap it; or (3) salvage it in order to reclaim valuable raw materials and components. In many situations the option of a markdown is not viable, thus the choice is to either scrap or salvage. Although many manufacturers have invested in salvage equipment, they have not deduced the impact of this investment as it affects not only the risk‐adjusted value of the project but also the production run size and the selling price. Hence, their decisions frequently turn out to be suboptimal. This paper develops a project‐valuation model that adds a new dimension to traditional capital budgeting decisions by incorporating salvage capac

ISSN:0143-6570    

DOI:10.1002/mde.4090130506

出版商:John Wiley&Sons, Ltd.    

年代:1992

数据来源: WILEY

摘要:

AbstractThis paper employs data envelopment analysis to generate efficiency indices for individual nursing homes relative to a best‐practice frontier. Further analysis then shows that these ‘unadjusted’ indices represent factors other than efficiency. Regression analysis purges the indices of these confounding influences. The resulting ‘adjusted’ efficiency indices demonstrate that for‐profit homes have higher mean levels of efficiency and a more efficient production frontier than non‐profit homes. These results support the property rights hypothesis that forprofit homes are inherently more efficient than no

ISSN:0143-6570    

DOI:10.1002/mde.4090130507

出版商:John Wiley&Sons, Ltd.    

年代:1992

数据来源: WILEY

摘要:

AbstractDespite the emphasis during the 1980s on value for money and the need to increase business efficiency in order to face competitive world markets, exactly how managers search for information for business decisions remains a neglected topic of academic inquiry. In response to this situation, the paper has two purposes. The first is to develop an initial understanding of how information is searched and used in business contexts; the paper describes how participants searched and used accounting information in a relatively unstructured competitive tendering task. Second, it shares the experiences gained from trying to research the topic. A number of experimental design and analysis issues are raised and discussed.

ISSN:0143-6570    

DOI:10.1002/mde.4090130508

出版商:John Wiley&Sons, Ltd.    

年代:1992

数据来源: WILEY

ISSN:0143-6570    

DOI:10.1002/mde.4090130509

出版商:John Wiley&Sons, Ltd.    

年代:1992

数据来源: WILEY

ISSN:0143-6570    

DOI:10.1002/mde.4090130510

出版商:John Wiley&Sons, Ltd.    

年代:1992

数据来源: WILEY

ISSN:0143-6570    

DOI:10.1002/mde.4090130511

出版商:John Wiley&Sons, Ltd.    

年代:1992

数据来源: WILEY