ISSN:0143-6570    

DOI:10.1002/mde.4090100402

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

ISSN:0143-6570    

DOI:10.1002/mde.4090100403

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

摘要:

AbstractIn periods of financial distress management may attempt to suppress unfavorable information from creditors and investors through the use of undisclosed changes in accounting methods, estimates and procedures, thus reducing the quality of the information contained in the firm's financial statements. The auditor's role in this context is to ensure that such compromise does not take place. If the auditor does not permit such accounting treatments, the company may choose to switch to another auditor who will. Empirical evidence relating auditor‐change behavior to the quality of comparative bankruptcy prediction models provides support for the notion that auditor changes before bankruptcy may be at least partially due to lack of success at suppressing unfavorable information with the current auditor. Conversely, non‐auditor switching companies appear to enjoy greater success at suppressing negative income and leverage informat

ISSN:0143-6570    

DOI:10.1002/mde.4090100404

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

摘要:

AbstractIn this paper we explore the determination of the sequencing of wage bargains in an institutional structure consisting of a single firm employing two unions, under two alternative assumptions about the nature of feasible contracts. If contingent contracts are prohibitively costly, we find that the unions prefer to lead in the negotiations process if the labor inputs are substitutes and follow if they are complements, while the firm is indifferent. If contingent contracts are permitted, both unions prefer to lead, while the firm prefers to negotiate first with the weaker union.

ISSN:0143-6570    

DOI:10.1002/mde.4090100405

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

摘要:

AbstractThis paper examines the effects of risk aversion and output market uncertainty on optimal inventory policy decisions for a transactions demand for inventory using the capital asset pricing theory. The paper shows that (1) the optimal order quantity of the risk‐adjusted value‐maximizing firm is smaller than that of the expected‐profit‐maximizing one and (2) the greater the firm's output market uncertainty, the smaller its optimal order quantity, where the output market uncertainty is defined as the relative volatility of the demand for the firm's

ISSN:0143-6570    

DOI:10.1002/mde.4090100406

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

摘要:

AbstractArrival time lags in twelve countries have been compared and the following conclusions drawn. Compared with the other countries in the sample population the USA does not have a drug lag. Alternative candidates are Australia, Norway and Japan. There are indications that arrival time lags decline over time. Recently introduced drugs probably now spread more quickly to destination countries.

ISSN:0143-6570    

DOI:10.1002/mde.4090100407

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

摘要:

AbstractDuring the mid‐ to late 1980s the UK's Chancellor of the Exchequer has attempted to reduce the volume of consumer credit extended by increasing interest rates rather than by re‐introducing terms controls. This paper presents estimates of demand functions for new credit extended by retailers which was financed by them and repaid by instalments. Following earlier papers, a stock‐adjustment model is presented that is extended to allow for credit rationing. The results suggest that the demand for such new credit extended is related negatively to terms control and positively to personal disposable income and expectations. Demand was not found to be related to (a proxy for) the nominal interest rate charged by retailers (although it was found to be positively related to the real rate). The former finding is consistent with questionnaire evidence that consumers are unaware of the interest rate that they pay for credit. Elasticities of demand are pres

ISSN:0143-6570    

DOI:10.1002/mde.4090100408

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

ISSN:0143-6570    

DOI:10.1002/mde.4090100409

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

摘要:

AbstractThis paper presents new evidence on predatory price cutting as a monopolization strategy. The evidence consists primarily of what appear to be repeated expressions of predatory intent in business letters exchanged between senior officers of the old Tobacco Trust. These letters come from the trial records ofUnited States v. American Tobacco Co., 221 US 106 (1911). Although they are not entirely free of ambiguity, the tobacco letters are remarkably candid and very interesting.

ISSN:0143-6570    

DOI:10.1002/mde.4090100410

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY

摘要:

AbstractThe Adler‐Dumas simple regression approach to foreign exchange exposure measurement and hedging is extended to the case of exposure to many currencie

ISSN:0143-6570    

DOI:10.1002/mde.4090100411

出版商:John Wiley&Sons, Ltd.    

年代:1989

数据来源: WILEY