ISSN:0143-6570    

DOI:10.1002/mde.4090060302

出版商:John Wiley&Sons, Ltd.    

年代:1985

数据来源: WILEY

摘要:

AbstractThe purpose of this paper is to illustrate a simple technique of estimating the cost of equity capital as well as a statistical measure of its reliability. The approach specifies a probability structure that is readily estimated from company dividend data, and front that structure both the estimated cost of capital and its standard error are calculated.

ISSN:0143-6570    

DOI:10.1002/mde.4090060303

出版商:John Wiley&Sons, Ltd.    

年代:1985

数据来源: WILEY

摘要:

AbstractEvery supermarket provides many examples of attempts lo develop more economical standardized products which will attract additional customers while guaranteeing the user that the quantity will be acceptable. We assume this process involves development costs incurred in reducing the amount incorporated in a monopoly product of its dominant product‐characteristic. A comparative dynamic analysis is used to explore the search for lower prices and higher output. The heightened vulnerability of the firm to market forces and some policy implications of the analysis are brought ou

ISSN:0143-6570    

DOI:10.1002/mde.4090060304

出版商:John Wiley&Sons, Ltd.    

年代:1985

数据来源: WILEY

摘要:

AbstractThis his paper examines the influence of diversification on R&D intensity in Japanese manufacturing firms. Then alternative definitions of the diversification index are used. The results show that diversification is not a factor favorable to R&D activity. The finding that advertising intensity is positively and significantly related to R&D activity should also be noted.

ISSN:0143-6570    

DOI:10.1002/mde.4090060305

出版商:John Wiley&Sons, Ltd.    

年代:1985

数据来源: WILEY

摘要:

AbstractThis paper tests the hypothesis that conglomerate mergers lessen price competition through the creation of mutual forbearance behavior. This hypothesis is tested by estimating the impact of multi‐market contacts on price competition in manufacturing industries. Potential interfirm contacts are computed for 195 of the top 200 American manufacturers in 1963. Measures of multi‐market contacts are then constructed and introduced as additional explanatory variables in a three‐equation model of the determinants of industry price‐cost margins. The empirical results do not support the mutual forbearance hypothesis, and suggest that conglomerate mergers should not be proscribed on tha

ISSN:0143-6570    

DOI:10.1002/mde.4090060306

出版商:John Wiley&Sons, Ltd.    

年代:1985

数据来源: WILEY

摘要:

AbstractThis is the first of two papers dealing with the emergence of black shop floor union power and the changing structure of industrial relations in South Africa. This paper examines the evolution of black and white trade unions and their attitudes towards the officially sanctioned system of industrial relations. The observation is made that black unions are placing greater emphasis on shop‐floor organization, leading to the development of an additional, but unofficial, tier in the negotiation structure in the form of work pi ace‐level union recognition and bargain

ISSN:0143-6570    

DOI:10.1002/mde.4090060307

出版商:John Wiley&Sons, Ltd.    

年代:1985

数据来源: WILEY

摘要:

AbstractThe economic performance of public utilities under different rate‐base valuation methods is examined in this paper. A unique procedure, involving Ordinary Least Squares regression analysis, examined data for all usable firms in states which have changed rate‐base methods since World War II. The sample consists of 20 electric firms extending over 30 years of time‐series data. Equations for individual firms were run to capture the effects of changes on rate‐base methods on capital intensity and capacity utilization on each separate business.Contrary to expectations, there was no clear pattern indicating that firms in the sample increased the rate of capital intensity when their rate‐base method was changed to fair value from original cost. Similarly, expected excess capacity was not found under fair‐value regulation.The general conclusion is that there is no reason to believe that different rate‐base valuation methods induce allocative inefficiency. Nevertheless, inefficiency may already exist in regulated monopolies in the form of X

ISSN:0143-6570    

DOI:10.1002/mde.4090060308

出版商:John Wiley&Sons, Ltd.    

年代:1985

数据来源: WILEY

摘要:

AbstractThe purpose of this paper is threefold: (1) we emphasize the rule of uncertainty in achieving an efficient allocation of resources to R&D activities; (2) we identify and discuss optional mechanisms that are directed at minimizing the role of uncertainty in determining R&D decisions; and (3) we analyze the role of public intervention in R&D via a formal structure. More specifically, we explain why and under what conditions a risk‐averse decision‐maker will invest less than a government in research and inventive activities. Sufficient conditions that lead to private underinvestment in these activities are established. Furthermore, if the option of buying information exists, then we identify a set of private governmental contracts that may lead to the acceptance of a research project that a priori is unfeasi

ISSN:0143-6570    

DOI:10.1002/mde.4090060309

出版商:John Wiley&Sons, Ltd.    

年代:1985

数据来源: WILEY

摘要:

AbstractThis paper examines the profitability of vertical integration using alternate indices of vertical integration Our results suggest that the profitability‐vertical integration relation is highly sensitive to the specification of the vertical integration measure use

ISSN:0143-6570    

DOI:10.1002/mde.4090060310

出版商:John Wiley&Sons, Ltd.    

年代:1985

数据来源: WILEY

摘要:

AbstractThis note presents Canadian evidence on the linkage between the level of risk exhibited by the share market and instability in monetary policy. Recent findings for the US financial market which establish such a relationship are corroborated using this new data set.

ISSN:0143-6570    

DOI:10.1002/mde.4090060311

出版商:John Wiley&Sons, Ltd.    

年代:1985

数据来源: WILEY