ISSN:0143-6570    

DOI:10.1002/mde.4090050102

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractTwo concepts are introduced in this paper, personal security market lines and personal betas of assets, and applied in a novel approach to optimal portfolio selection. The procedure is shown to be analogous to asset selection decision rules developed in the context of the capital asset pricing model. However, the statistical problems associated with the latter are not shared by the new procedure.

ISSN:0143-6570    

DOI:10.1002/mde.4090050103

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractThe paper aims at identifying the variables that are significant in determining the choice of host countries for manufacturing subsidiaries of US transnational firms. The approach that is taken is to relate variables that on the basis ona prioritheoretical reasoning influence foreign location decisions, with (a) total market penetration by US firms and (b) the choice these firms make between exporting to their foreign markets and on site manufacturing. Location decisions are viewed as emerging from the interaction of characteristics typical to the industry of the transnational firm and factors specific to potential host countries. Particular attention is devoted to finding out whether locational choices and market shares are interdependent. The sample of observations under investigation consists of the activities of US majority‐owned subsidiaries, classified in fourteen industry groupings and operating twenty countries. Sub‐samples of countries are also studied. It is found that for the European countries, in particular EEC members, market penetration is dependent on local manufactur

ISSN:0143-6570    

DOI:10.1002/mde.4090050104

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractA problem of financing uncertain cost of a project is investigated. The paper analyses the allocation and the loss due to the cost uncertainty. Different formulations of the problem are suggested and compared: expected profits, chance constraint maximization and a utility approach. It is shown that even a risk‐neutral manager is willing to pay a premium to reduce uncertainty. The two approaches to risk, chance constraint versus concave utility, are shown to be non‐equival

ISSN:0143-6570    

DOI:10.1002/mde.4090050105

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractIn this paper arguments are set forward explaining the interrelationship between the entry and exit decision. The simultaneous effect of entry and exit on profitability for some Belgian sectors is studied. The empirical results seem to suggest that future research in this area has to take into account the link between entry and exit.

ISSN:0143-6570    

DOI:10.1002/mde.4090050106

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractThe objective of a profitable British Rail might be achieved by a segregation of its operating services and its permanent way (infrastructure). In the absence of a system of road pricing, only the operating services have the potential to be profitable. A segregation of railway operating services and infrastructure is also supported by an examination of fundamental characteristics of all modes of transport. While operating services exhibit the characteristics of competitive markets, infrastructure tends to monopoly. The reconstruction of British Rail in this way would improve the provision of transport services, by allowing competitive market pressures to be exerted more fully.

ISSN:0143-6570    

DOI:10.1002/mde.4090050107

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractThe present paper discusses methods originally proposed by Adams and Miovic in 1968 (then refined and used later by many other authors) for calculating the output elasticity of useful energy consumption (ϵ). We first show that this methodological approach is quite dubious. Better alternative methods of estimation are then proposed. We also stress that, since the marginal rate of interfuel substitution depends on the GDP functional form, the simulataneous use of several functional forms of GDP in energy studies leads obviously to misleading interpretations. Using thermal efficiency coefficients and OECD countries figures for the 1959–73 period, we finally found that ϵ did steadily fall from high values to values which are still higher than

ISSN:0143-6570    

DOI:10.1002/mde.4090050108

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

摘要:

AbstractOutlines conditions under which the interest of a whole organization is best served by its central management allocating more funds or resources to a sub‐unit or sub‐centre than is optimal (on average) under certainty, or budgeting fewer funds or resoruces than this. Slack is efficient in the former case and organizational strain in the latter one, a possibility neglected by Leibenstein in his theory of organizational slack and X‐efficiency. The solution to the problem is simplified, in comparison to Hart's and Theil's approach, by using random net benefit functions. Optimal budget bias is shown to depend on rates of change of marginal net be

ISSN:0143-6570    

DOI:10.1002/mde.4090050109

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

ISSN:0143-6570    

DOI:10.1002/mde.4090050110

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY

ISSN:0143-6570    

DOI:10.1002/mde.4090050111

出版商:John Wiley&Sons, Ltd.    

年代:1984

数据来源: WILEY