To see the other types of publications on this topic, follow the link: Transaction costs theory.
Dissertations / Theses on the topic 'Transaction costs theory'
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 50 dissertations / theses for your research on the topic 'Transaction costs theory.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse dissertations / theses on a wide variety of disciplines and organise your bibliography correctly.
1
Espinoza, Raphael. "Essays on Money and Transaction Costs in the Theory of Finance." Thesis, University of Oxford, 2009. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.517116.
Full text
2
Weiner, Scott M. "The effect of stochastic volatility on portfolio optimization with transaction costs." Thesis, University of Oxford, 2000. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.324762.
Full text
3
Ingpochai, Pongsathorn. "Portfolio and option pricing theory with correlated multi-assets and transaction costs." Thesis, Imperial College London, 2007. http://hdl.handle.net/10044/1/11774.
Full text
4
Incorvia, Joseph H. "An evaluation of defense contracting based on transaction cost theory." Thesis, Virginia Tech, 1990. http://hdl.handle.net/10919/42008.
Full textAbstract:
This study investigates the use of the transaction
cost paradigm, as a framework, for evaluating defense
contracts and exploring problems related to defense
contracting. The study shows that defense contracting is
beleaguered with bounded rationality and uncertainty
problems, and furthermore, that bounded rationality and
uncertainty can lead to opportunistic behavior within
defense contracting. The study shows, in particular that
adverse selection, moral hazard, and hold-up problems exist
within defense contracting.
Based on the results of this study the transaction
cost paradigm can be used as a framework for evaluating
defense contracts and related problems. The results also
indicate that hold-up problems and moral hazard problems
may be minimized by using proper contracts or acquisition
strategies. Based on the case study in Chapter III there
does not appear to be a contractual solution to adverse
selection problems.
Master of Arts
5
König, Franziska. "The uncertainty-governance choice puzzle revisited : predictions from transaction costs economics, resource-based theory, and real options theory /." Wiesbaden : Gabler, 2009. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=017152953&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
Full text
6
König, Franziska. "The uncertainty-governance choice puzzle revisited predictions from transaction costs economics, resource-based theory and real options theory." Wiesbaden Gabler, 2008. http://d-nb.info/992162610/04.
Full text
7
Tran, Quoc-Tran. "Some contributions to financial market modelling with transaction costs." Thesis, Paris 9, 2014. http://www.theses.fr/2014PA090036/document.
Full textAbstract:
Cette thèse traite plusieurs problèmes qui se posent pour les marchés financiers avec coûts de transaction et se compose de quatre parties.On commence, dans la première partie, par une étude du problème de couverture approximative d’une option Européenne pour des marchés de volatilité locale avec coûts de transaction proportionnelles.Dans la seconde partie, on considère le problème de l’optimisation de consommation dans le modèle de Kabanov, lorsque les prix sont conduits par un processus de Lévy.Dans la troisième partie, on propose un modèle général incluant le cas de coûts fixes et coûts proportionnels. En introduisant la notion de fonction liquidative, on étudie le problème de sur-réplication d’une option et plusieurs types d’opportunités d’arbitrage.La dernière partie est consacrée à l’étude du problème de maximisation de l’utilité de la richesse terminale d’une portefeuille sous contraintes de risqueThis thesis deals with different problems related to markets with transaction costs and is composed of four parts.In part I, we begin with the study of assymptotic hedging a European option in a local volatility model with bid-ask spread.In part II, we study the optimal consumption problem in a Kabanov model with jumps and with default risk allowed.In part III, we sugest a general market model defined by a liquidation procès. This model is more general than the models with both fixed and proportional transaction costs. We study the problem of super-hedging an option, and the arbitrage theory in this model.In the last part, we study the utility maximization problem under expected risk constraint
8
Grépat, Julien. "Les aspects mathématiques des modeles de marchés financiers avec coûts de transaction." Thesis, Besançon, 2013. http://www.theses.fr/2013BESA2005/document.
Full textAbstract:
Les marchés financiers occupent une place prépondérante dans l’économie. La future évolution des législations dans le domaine de la finance mondiale va rendre inévitable l’introduction de frictions pour éviter les mouvements spéculatifs des capitaux, toujours menaçants d’une crise. C’est pourquoi nous nous intéressons principalement, ici, aux modèles de marchés financiers avec coûts de transaction.Cette thèse se compose de trois chapitres. Le premier établit un critère d’absence d’opportunité d’arbitrage donnant l’existence de systèmes de prix consistants, i.e. martingales évoluant dans le cône dual positif exprimé en unités physiques, pour une famille de modèles de marchés financiers en temps continu avec petits coûts de transaction.Dans le deuxième chapitre, nous montrons la convergence des ensembles de sur-réplication d’une option européenne dans le cadre de la convergence topologique des ensembles. Dans des modèles multidimensionnels avec coûts de transaction décroissants a l’ordre n−1/2, nous donnons une description de l’ensemble limite pour des modèles particuliers et en déduisons des inclusions pour les modèles généraux (modèles de KABANOV). Le troisième chapitre est dédié a l’approximation du prix d’options européennes pour des modèles avec diffusion très générale (sans coûts de transaction). Nous étudions les propriétés des pay-offs pour pouvoir utiliser au mieux l’approximation du processus de prix du sous-jacent par un processus intuitif défini par récurrence grâce aux itérations de PICARDFinancial markets play a prevailing role in the economy. The future legislation development in the field of globalfinance will unavoidably lead to friction to prevent speculative capital movements, always threatening with crisis. Thatis why we are interested in the financial market models with transaction costs.This thesis consists of three chapters. The first one establishes a criterion of absence of arbitrage opportunitiesgiving the existence of consistent price systems, i.e. martingale evolving in the dual cone expressed in physical units.The criterion holds for a family of financial market models in continuous time with small transaction costs.In the second chapter, we show the convergence of super-replication sets for a European option in the contextof the topological convergence of sets. In multivariate models with transaction costs decreasing at rate n-1/2, we give adescription of the limit set for specific models. We deduce inclusions for general models (KABANOV's models).The third chapter is dedicated to the approximation of the European option price for models with very generaldiffusion (without transaction costs). We study properties of the pay-off to make best use of the approximation of theunderlying asset price, based on PICARD iterations
9
Guerrier, Gerard Leopold. "Challenging the transaction costs theory in the distribution of complex industrial products : an exploratory analysis." Thesis, Brunel University, 1997. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.387490.
Full text
10
Vasconcelos, Francisco Josà Mendes. "The EVALUATION AND PLANNING IN CONTRACTS AGROBUSINESS AS STRATEGIES OF UNCERTAINTY minimizing transaction costs." Universidade Federal do CearÃ, 2014. http://www.teses.ufc.br/tde_busca/arquivo.php?codArquivo=12724.
Full textAbstract:
The present study aimed to analyze the applicability of legal theories ImprevisÃo and avoidable damage in minimizing the effects of uncertainty in the agribusiness contracts. To examine such application, first, secondary data extracted from time series database of IBGE and IPEA-DATA in the estimation of an econometric model, where methods of time series, unit root test, test were employed were worked co-integration Johansen model vector error correction and variance decomposition of forecast errors. This econometric procedure aims to demonstrate margins of errors in the prognosis of future data. The sample period covers January 2007 to December 2011. As an additional function was taken concomitantly, a research field whose basic aim was to characterize the contractual relationship of an agribusiness production chain. The supply chain was chosen the culture of cashew in the state of CearÃ. The set of results in a systemic way, demonstrates that despite all the caring of economic agents in running a successful strategic planning within their productive activity, there is always a "gray area", under the impenetrable human perspective, imbued with extraordinary facts and unpredictable that when they occur, cause imbalance in contracts. This means that the fatality not envisioned by econometric methods, the legal instruments supplementing them in order to adjust the contracts, rebalancing them again.O presente trabalho se propÃs analisar a aplicabilidade das teorias jurÃdicas da ImprevisÃo e dos Danos evitÃveis na minimizaÃÃo dos efeitos da incerteza no contratos de agronegÃcio. Para examinar referida aplicaÃÃo, primeiramente, foram trabalhados dados secundÃrios extraÃdos de sÃries histÃricas do banco de dados do IBGE e IPEA-DATA na estimaÃÃo de um modelo economÃtrico, onde foram empregados mÃtodos de sÃries de tempo, teste de raiz unitÃria, teste de co-integraÃÃo de Johansen, modelo de vetor de correÃÃo de erros e decomposiÃÃo da variÃncia de erros de previsÃo. Tal procedimento economÃtrico tem o objetivo de demonstrar margens de erros no prognostico de dados futuros. O perÃodo analisado abrange janeiro de 2007 a dezembro de 2011. Em uma funÃÃo suplementar foi feita, concomitantemente, uma pesquisa de campo cujo intuito basilar foi caracterizar a relaÃÃo contratual de uma cadeia produtiva do agronegÃcio. A cadeia produtiva escolhida foi a cultura da castanha de caju no Estado do CearÃ. O conjunto de resultados, de forma sistÃmica, demonstra que, apesar de todo zelo dos agentes econÃmicos em executar um bom planejamento estratÃgico dentro de sua atividade produtiva, sempre hà uma âzona obscuraâ, impenetrÃvel sob a Ãtica humana, impregnada de fatos extraordinÃrios e imprevisÃveis que, quando de sua ocorrÃncia, causam desequilÃbrio nos contratos. Isso significa que, na fatalidade nÃo antevista pelos mÃtodos economÃtricos, os instrumentos jurÃdicos suplementando-os, de forma a reajustar os contratos, reequilibrando-os novamente.
11
Dabbous, Fouad. "App download decision from the perspective of Transaction Costs influence on App revenue model." Thesis, Blekinge Tekniska Högskola, Institutionen för industriell ekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:bth-15352.
Full textAbstract:
Despite the huge market size of mobile applications and the large number of involved stakeholders fewresearch about app users’ intentions to download apps and factors affecting their decision had been carriedout. Current study examine app download decision from a transaction costs perspective and the effect of itselements on app download taking into consideration free and paid revenue model type for app. An onlinesurvey is developed to collect field data. One hundred and one valid response are obtained and used to testthe proposed research model. The findings indicated that transaction costs for app and market weresignificant driving factors that negatively impacted download for free model. Temporal asset specificityshowed to be an essential driving factor for app download. The research model gave positive indicationsabout transaction costs theory being a good framework to analyze app download decision.
12
Ludwig, Andreas [Verfasser]. "Comparisons and asymptotics in the theory of portfolio optimization under fixed and proportional transaction costs / Andreas Ludwig." Kiel : Universitätsbibliothek Kiel, 2012. http://d-nb.info/1020283939/34.
Full text
13
Martinez, Gonzalez Natal Alejandro. "A transaction costs approach to community participatory development : orthodox theory vs reality in traditional communities in Mexico." Thesis, London School of Economics and Political Science (University of London), 2006. http://etheses.lse.ac.uk/2690/.
Full textAbstract:
This thesis examines the obstacles that communities have to confront, and the solutions they have made use of to organise and sustain community participation for service provision. Orthodox participatory theory assumes that communities have the knowledge and the appropriate attitudes to manage participatory projects effectively. This thesis questions these assumptions by using Transaction Cost Theory to understand the failures and successes of Community Participatory Development (CPD). Participant observation in three traditional rural Mexican communities demonstrated that the assumptions of self-reliant participatory development theory overlook important problems, such as unequally distributed and limited information, limited resources and skills, opportunistic attitudes and conflicts of interest. These problems generate cooperation costs in terms of time, effort and other material and intangible resources. We argue that the larger these costs, the less likely it is that community participation will succeed unless effective incentives are created to overcome them. This is so, because rural people intend to be rational and self-interested individuals, who will only involve themselves in collective action if they expect the benefits to exceed the costs. However, we argue, that rationality is institutionally bounded, and that local institutions play a central role in determining choices and behaviour. Therefore, successful community participation is directly related to communities' capacity to use institutional arrangements to deal with the costs of cooperation and specially to reconcile private and collective interests. This thesis shows that institutional arrangements that sanction opportunism, and shape individual behaviour in favour of the collective interest are needed for collective action to arise. These institutional solutions involve sanctions and hierarchies to ensure successful projects, problems ignored by populist participatory theories. By so doing, this thesis builds an alternative and more critical model for the analysis of participation theory, and presents a new perspective on the possibilities and limitations of Transaction Costs Economics.
14
Song, Wenwen. "How international strategy influences the relationship between resource slacks and CSR?: a perspective of transaction costs theory /Song Wenwen." HKBU Institutional Repository, 2017. https://repository.hkbu.edu.hk/etd_oa/357.
Full textAbstract:
The current research of slack-performance relationship pays attention mainly to a set of overlapping slack natures, such as being sticky or liquid, without sufficient consideration of variables related to the internal structure of a given organization. I posit that this weakness may prevent us from further understanding how different slack resources (the slacks) influence firm performance. Moreover, the research on slack-performance relationship has pay insufficient attention to firm's performance in terms of corporate social responsibilities or CSR. Combining the transaction cost theory of the firm with a perspective of international strategy (Taylor, Beechler, & Napier, 1996), I propose a new model explaining how organizational-structure-related variables may interact with the slacks and influence firms' corporate social responsibility. In the study, I propose that with the international strategy, the positive relationship between liquid slack of a given MNE and its corporate social performance will become stronger. Meanwhile, with the international strategy, the negative relationship between the sticky slack of a given MNE and its corporate social performance will become weaker. After analyzing data from publicly listed US firms (2000-2012), I obtain evidence supporting the importance of organizational integration structure for understanding slack-performance relationship. The results show that the international strategy has negative effects to moderate the relationship between the slacks and corporate social responsibilities. Keywords: Sticky slack, Liquid slack, Corporate social performance, Corporate social irresponsible, International strategy
15
Dunn, Malcolm. "Inside the capitalist firm : an evolutionary theory of the principal agent-relation." Universität Potsdam, 2013. http://opus.kobv.de/ubp/volltexte/2013/6515/.
Full textAbstract:
This book deals with the inner life of the capitalist firm. There we find numerous conflicts, the most important of which concerns the individual employment relationship which is understood as a principal-agent problem between the manager, the principal, who issues orders that are to be followed by the employee, the agent. Whereas economic theory traditionally analyses this relationship from a (normative) perspective of the firm in order to support the manager in finding ways to influence the behavior of the employees, such that the latter – ideally – act on behalf of their superior, this book takes a neutral stance. It focusses on explaining individual behavioral patterns and the resulting interactions between the actors in the firm by taking sociological, institutional, and above all, psychological research into consideration. In doing so, insights are gained which challenge many assertions economists take for granted.
16
Castillo, Valencia María del Pilar. "Economics theory of political kidnapping : theory and evidency for the case of the FARC in Colombia." reponame:Biblioteca Digital de Teses e Dissertações da UFRGS, 2015. http://hdl.handle.net/10183/132922.
Full textAbstract:
O objetivo desta tese é explicar a redução nas taxas de sequestros políticos na Colômbia nos últimos anos a partir da análise do comportamento estratégico dos criminosos. Pontos de vista convencionais explicam a diminuição dos sequestros como o resultado exitoso da política de segurança democrática do presidente Álvaro Uribe Vélez. No entanto, até agora, tem sido desconsiderada a busca de explicações alternativas à já existente, que bem poderiam ser encontradas a partir da perspectiva de análise dos dilemas organizacionais produzidos pelos sequestros nas FARC – Forças Armadas Revolucionárias da Colômbia –, da sua interação estratégica com o governo e, em particular, de seus efeitos sobre sua atividade global e na decisão de pôr fim a essa ação criminosa. O interesse dos três ensaios que compõem esta tese é estudar as motivações deste grupo rebelde, sob o enfoque da teoria da agência, dividindo sua estrutura organizativa entre líderes (principal), que tomam as decisões estratégicas, e os combatentes (agentes), que as realizam, em um contexto de informação assimétrica, para tomar decisões racionais. Cada ensaio desenvolve a partir de diferentes perspectivas, mas tendo como base o enfoque racional de principal-agente, as razões que levaram a organização a renunciar a uma de suas atividades criminosas, considerada no princípio como uma ação estratégica eficiente que obrigaria o governo colombiano a negociar. O primeiro ensaio está focado em mostrar os custos de transação que gerou essa estratégia para os agentes e o principal. Esta análise faz uso dos mesmos instrumentos analíticos empregados para analisar os custos de qualquer transação econômica que leva a cabo uma organização legal. Mostrando que os custos dessa atividade foram altos, expressados, primeiro, em um conflito de interesses entre o líder, encarregado de esquematizar e designar tarefas, e os agentes, responsáveis por sua execução. A divergência entre estas duas partes teve origem em uma mudança nas expectativas dos agentes, que preferiam mais atividades de combate às relacionadas com o sequestro, em um contexto de perseguição constante do exército colombiano. O segundo ensaio estuda como essa mesma estratégia afetou o contexto no qual os agentes definem suas preferências. Através do uso de três enfoques diferentes da teoria econômica se expõem três interpretações diversas da mudança nas preferências dos agentes: a) uma mudança no risco; b) uma divergência entre as preferências subjacentes e induzidas; c) a presença de dimensões motivacionalmente salientes. E o terceiro ensaio apresenta um modelo formal para estabelecer um sistema de compensações eficiente que o principal oferece ao agente para atenuar o que sobre seu comportamento gerou o sequestro. Os resultados mostram que, considerando que os recursos das organizações armadas ilegais são escassos, quanto maiores são os incentivos oferecidos aos agentes para evitar que desertem, menor é a capacidade da organização para penalizar os desertores e menor a utilidade do principal. Simulando o modelo para um conjunto específico de parâmetros se conclui que a incorporação do mecanismo de autocumprimento (self-enforcing) dentro da função de utilidade do principal aumenta seus custos e propicia o baixo esforço do agente e seu comportamento oportunista.The objective of this thesis is to explain the reduction in the rate of political kidnapping in Colombia in recent years by means of analyzing the strategic behavior of its perpetrators. This is the basic question addressed in this thesis. Conventional views interpret the fall in the kidnapping rate as an outcome of President Álvaro Uribe’s democratic security policy. I will argue, however, that this is not the whole story, since political kidnapping led Farc [for its acronym in Spanish, Fuerzas Armadas Revolucionarias de Colombia] into an unprecedented strategic situation that induced a breach between leader (principal) and combatant (agent) concerns with strong effects on its overall activity and its decision to stop that criminal action. The focus of three essays making up this thesis is on studying FARC’s motivations from the perspective of agency theory, by splitting its organizational structure into principals and agents who are acting on a setting of asymmetrical information. Each essay develops, from different perspectives, the reasons that led the organization to give up that criminal activity due to the substantial political and organizational risks involved. The first essay is focused on the transactions costs generated by the kidnapping strategy both for agents and principals. This analysis is based on the same theoretical tools used to study the costs held by any legal organization. I found that the costs of kidnapping were high, expressed first in a conflict of interest between the leader –responsible for designing and assigning tasks—and the agents in charge of its implementation. The divergence was due to a shift in the expectations of agents who preferred combat activities over the menial tasks associated with kidnapping, in a context of heavy pressure by the Colombian Army. In contradistinction to legal organizations in which such type of divergence can be solved, in part, by paying higher wages to agents in order to extract their best effort, this alternative is not feasible for FARC, for those who joined the organization are supposed to have an ideological and political commitment. The second essay studies how the kidnapping strategy affected the preferences of agents and their behavior by means of using three different approaches from economic theory: (a) a change in risk, (b) a divergence between underlying and induced preferences and, (c) the presence of salient motivational dimensions. The third essay examines, through a principal-agent model, the nature of the trade-off between incentives and enforcing mechanisms that the leadership of an Armed illegal organization offers to its agents. Using a MATLAB’s optimization tool-box, I computed the optimal transfer system for a given parameterization of the model, and analyzed its properties. The numerical analysis shows that the inclusion of a self-enforcing mechanism on the leader’s objective function increases the costs for the principal and could lead agents to choose low efforts and engage in opportunistic behavior.
17
MacDonald, Mark R. Carleton University Dissertation Public Policy and Administration. "A Transaction cost theory of policy networks: with application to the Lobbyists Registration Act and the licensing of rbST in Canada." Ottawa, 1998.
Find full text
18
Menchaoui, Ines. "Identification et impact des pratiques de gestion fiscale sur la performance fiscale des groupes de sociétés : une étude menée dans le contexte tunisien." Thesis, Besançon, 2015. http://www.theses.fr/2015BESA0001/document.
Full textAbstract:
L’objectif de la présente thèse est d’identifier les pratiques relevant de la gestion fiscale au sein des groupes de sociétés en Tunisie afin d’évaluer l’impact de ces pratiques sur la performance fiscale de ces acteurs majeurs de l’économie Tunisienne. Pour ce faire, le premier chapitre est consacré à la définition de la notion de groupe de sociétés en Tunisie en mettant en exergue leur poids économique et en soulignant leur réalité juridique. Le deuxième chapitre est axé sur l’identification des différentes pratiques de gestion fiscale, auxquelles ont recours ces groupes à travers une analyse de la jurisprudence fiscale représentée par 17 arrêts rendus en cassation de 2005 à 2011. Un questionnaire réalisé auprès de responsables des sociétés mères cotées à la BVMT est également mobilisé au cours de ce chapitre afin de sonder les raisons de la non application du régime d’intégration fiscale pourtant sensé être un outil efficace d’optimisation fiscale. Le troisième chapitre introduit la théorie des coûts de transaction qui semble adéquate pour déceler la relation entre pratiques de gestion fiscale et performance fiscale. Cette relation est développée au prisme de trois hypothèses de recherche qui pronostiquent le type de corrélation entre le nombre de transactions intra-groupe, le volume de la dette intra-groupe et le dégrèvement financier d’un coté et le taux d’imposition effectif de l’autre (respectivement H1, H2 et H3). Ces hypothèses sont vérifiées dans un quatrième et dernier chapitre à travers une analyse statistique multi variée menée sur des données financières d’un échantillon de 36 groupes de sociétés (21 non financiers et 15 groupes de sociétés financiers), dont la société mère est cotée à la BVMT sur une période allant de 2007 et 2011. Ainsi, cette analyse statistique a permis de valider deux des trois hypothèses de recherche (H1 et H3) dans la totalité de l’échantillon et dans le secteur financier et une seule hypothèse dans le secteur non financier (H3). Il s’avère alors que les groupes de sociétés tunisiens opèrent essentiellement par deux pratiques afin de diminuer leur taux d’imposition effectif : les techniques de dégrèvement de bénéfice et les transactions internes au groupe (cette technique n’a été vérifiée que pour le secteur financier)The purpose of this thesis is to identify practices of fiscal management within corporate groups in Tunisia to assess the impact of these practices on fiscal performance of these major players in the Tunisian economy. Thus, the first chapter is devoted to the definition of the concept of group of companies in Tunisia highlighting their economic weight and emphasizing their legal reality. The second chapter focuses on the identification of different fiscal management practices that use these groups through an analysis of fiscal jurisprudence represented by 17 judgments of the Court of Cassation from 2005 to 2011. A survey conducted among managers of parent companies listed on the TSE is also mobilized during this chapter to sound the reasons for the non-application of the tax consolidation regime however supposed to be an effective tax planning tool. The third chapter introduces the theory of transaction costs that seems adequate to detect the relationship between fiscal management practices and fiscal performance. This relationship is developed through three research hypotheses that are forecasting the type of correlation between intra-group transactions, intra-group debt and financial relief on one side, and the effective tax rate on the other (respectively H1, H2 et H3). These hypotheses are tested in a fourth and last chapter through a multivariate statistical analysis conducted on financial data from a sample of 36 groups of companies (21 non-financial groups and 15 financial companies), whose parent company is listed on the TSE over a period from 2007 to 2011. So this statistical analysis led to confirm two of the three research hypotheses (H1 and H3) in the whole sample and in the financial sector and a single hypothesis in the non-financial sector (H3). It was then found that Tunisian groups of companies operate mainly through two practices to reduce their effective tax rate: financial relief and intra-group transactions practices (this last practice has been verified only in the financial sector)
19
Lucente, Betty C. "Hospitals' Decision to Vertically Integrate Skilled Nursing Units Before and After the Balanced Budget Act." VCU Scholars Compass, 2006. https://scholarscompass.vcu.edu/etd/1495.
Full textAbstract:
The decision to vertically integrate services and deliver care has both management and policy concerns for healthcare in the United States. The change in reimbursement, which was enacted with the Balanced Budget Act of 1997, influenced the availability of post acute services for acute hospital inpatients. Prior to this change, post acute services were reimbursed based on cost similar to the pre DRG era of Medicare reimbursement. The change in payment had the potential to make discharging patients more difficult resulting in a prolonged length of stay without additional payment and at increased costs for hospitals. As a result of this change hospitals made arrangements to provide care for this population. The choices included vertical integration, contracting or hybrid arrangement and simply relying on the spot market. This makes or buy decision is a focus of this study. Were hospital decisions different after the BBA, than before this legislation?This study utilizes Oliver Williamson's transaction cost economics theory as the framework for the study and is a replication of a prior study by Chiu (1995) hybrid arrangement and simply relying on the spot market. This makes or buy decision is a focus of this study. Were hospital decisions different after the BBA, than before this legislation?This study utilizes Oliver Williamson's transaction cost economics theory as the framework for the study and is a replication of a prior study by Chiu (1995) The Williamsons theory is based on the proposition that three transaction dimensions determine the most efficient method of operation for a firm: uncertainty, frequency, and asset specificity. Depending on the "market", organizations may elect to arrange services through the spot market, contract for services, or vertically integrate the service. The study uses data from the American Hospital Association survey as well as the Area Resources files to determine if individual hospitals have made contract arrangements, vertically integrated, or relied on the spot market to provide skilled nursing services. Data is collected before and after the BBA and analyzed using multiple regression analysis and then subjected to significance testing. Sixteen hypotheses are tested that focus on the three dimensions of transaction cost theory. Findings support the importance of transaction frequency and asset specificity, while only weak support is offered for transaction uncertainty. The results differ from the Chiu study, which found strong support for uncertainty and weak support for frequency. This study is unique in that it examines data from two time periods surrounding a major reimbursement change in Medicare. It makes an important contribution to the empirical testing of transaction cost economics and the decision to vertically integrate in health care.
20
Silva, Filho Edison Benedito da. "A economia dos custos de transação e a abordagem das competências : elementos para uma teoria institucionalista unificada da firma." reponame:Biblioteca Digital de Teses e Dissertações da UFRGS, 2006. http://hdl.handle.net/10183/7847.
Full textAbstract:
Embora constitua um elemento fundamental da Microeconomia, o estudo do comportamento empresarial foi, por muito tempo, negligenciado pela abordagem ortodoxa em virtude de sua opção metodológica pelo atomismo analítico, pela hipótese de racionalidade substantiva e pelo foco nas trocas, em detrimento da produção. Tentativas posteriores de aprimoramento da teoria convencional, compromissadas, contudo, com a preservação desse instrumental analítico, conduziram o estudo das firmas a um inevitável impasse, o que por sua vez possibilitou a emergência de alternativas teóricas de natureza institucionalista, baseada nos conceitos de custos de transação e competências. A escola institucionalista logrou posteriormente desenvolver-se de modo a ampliar consideravelmente seu escopo e diversidade teórica, culminando afinal na predominância de duas grandes correntes de pensamento dentro do institucionalismo econômico, que competem pela primazia da explicação do comportamento organizacional: as abordagens contratualista e evolucionária. Através da análise dos avanços e limitações de cada uma dessas diferentes escolas, demonstraremos neste trabalho a viabilidade de um diálogo em prol da construção de uma teoria híbrida que combine e aperfeiçoe as principais contribuições institucionalistas à compreensão do fenômeno empresarial.Despite being a fundamental element of the Microeconomics, the study of business behavior was, for a long time, neglected by orthodoxy due to its methodological preference for atomist analysis, substantive rationality and focus on exchange, instead of production. Further attempts to improve the conventional theory, without abandoning the compromise in maintaining these analytical tools, have elsewhere failed, leading to the emergence of theoretical alternatives based on the institutionalist concepts of transaction costs and competences. Furthermore, the institutionalist approach was able to develop itself in the way of enlarging its scope and theoretical diversity, until the present state in which two great streams compete for supremacy in the institutionalist theory of the firm: the transaction costs economics and the evolutionary economics. By verifying the advances and limits of each one of these approaches, we’ll demonstrate the viability of a dialogue in the way of building a hybrid theory, which would combine the most important institutional contributions to the comprehension of the organizations.
21
Rebocho, Ana Luísa Simões. "Caraterização dos canais de comercialização do vinho no Alentejo: uma abordagem com base na teoria dos custos de transação." Master's thesis, Universidade de Évora, 2018. http://hdl.handle.net/10174/23034.
Full textAbstract:
O setor do vinho tanto em Portugal como no Alentejo tem vindo a afirmar-se ao longo dos
anos com produtos genuinamente únicos que têm ganho reputação no mercado doméstico e
no mercado externo. O potencial de diferenciação e a reduzida dimensão do mercado nacional
para absorver adequadamente a produção, leva à necessidade de uma estratégia de
consolidação no mercado externo. Desta forma, é importante uma gestão eficiente dos canais
de comercialização.
Deste modo, este estudo tem como objetivo caraterizar a estrutura dos canais de
comercialização das empresas do setor do vinho no Alentejo e avaliar o seu nível de integração.
Para além de compreender o nível de integração dos canais de comercialização dos vinhos e as
principais razões que o determinam, definiram-se quatro objetivos específicos: a) Identificar os
canais de comercialização utilizados pelas empresas e a forma como os agentes se relacionam
neles; b) Avaliar a influência que o grau de incerteza tem no nível de integração dos canais de
comercialização; c) Avaliar a influência que a especificidade dos ativos tem o nível de integração
dos canais de comercialização e; d) Avaliar como é que a frequência das transações afeta o grau
de integração dos canais de comercialização.
A metodologia utilizada seguiu uma abordagem mista, baseada na análise qualitativa e na
análise quantitativa. A primeira teve em conta a realização de entrevistas (reuniões) com
especialistas do setor e a última a elaboração de um questionário para aplicar a uma amostra
de empresários do setor do vinho no Alentejo.
Os resultados obtidos parecem indicar, como era esperado, que as empresas não utilizam
unicamente um canal de comercialização de exportação. E ao contrário do que é referido na
literatura, as empresas objeto de estudo geralmente não coordenam as suas transações através
de contratos. No que respeita ao poder exercido no canal, este poderá variar em função do tipo
de canal e do tipo de contrato. Os resultados permitiram ainda concluir que a incerteza afeta os
custos de transação, bem como os ativos específicos, nomeadamente associados aos recursos
humanos. Verificou-se também que quanto maior for a frequência das transações, maior é o
nível de integração dos canais de comercialização; Abstract:
In Portugal as in Alentejo the wine sector has been affirmed with genuine and unique
products, which have gained a reputation in both the household market and foreign market.
The potential for differentiation and a small size of the household market to absorb production
lead to a consolidation strategy in the foreign markets. Thus, an efficient management of
marketing channels is important.
Therefore, this study aims to characterise the marketing channels structure of the wine
sector in Alentejo, and assess its integration level. In addition, to understand the marketing
channels protection level of the wines in Alentejo and the main raisons that determine them,
four specific objectives were defined: a) identifying the marketing channels that are used by
wine companies and how the channels’ agents are related among them to make the
transactions; b) assessing the influence of uncertainty on the marketing channels integration; c)
assessing the influence of asset specificity on the marketing channels integration; and d)
assessing how transaction frequency affects the marketing channels integration.
The methodology followed a mixed approach based on the qualitative and quantitative
analyses. The former took into account interviews (meetings) with experts from the wine sector,
and the latter comprised a survey to be applied in a sample of wine producers from Alentejo.
As expected, the results indicate that wine companies do not use only one kind of channel
to export. Contrary to the literature, the studied wine companies generally do not make the
coordination of their transactions by using contracts. With regards the marketing channel
power, it may vary with the type of channel or contract used. The results still allowed conclude
that uncertainty affects the transaction costs, as well as the specific assets, namely the human
resources. One also verified that as greater is the transaction frequency higher is the marketing
channels integration.
22
Jansson, Ann-Catrin. "Rekrytering och sociala medier - Om konsten att hitta rätt person till rätt jobb på rätt ställe : En fallstudie av Länsförsäkringar Bergslagens rekryteringsprocess." Thesis, Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:mdh:diva-11167.
Full textAbstract:
Den vanligaste rekryteringsvägen är genom informella kontakter och spontanbesök är den näst vanligaste vägen. Arbetsförmedlingen (AF) som rekryteringsväg minskar ständigt och sociala medier används allt mer som rekryteringsverktyg. Många företag har svårt att rekrytera personal med rätt kompetens. Syftet med uppsatsen är att undersöka hur och vilka sociala medier som används i rekryteringssammanhang. Forskningsstrategin är en fallstudie av Länsförsäkringar Bergslagens rekryteringsprocess. Det empiriska materialet består bland annat av interna dokument och intervjuer med personalchefen. Resultatet visar att nuvarande rekryteringsprocess genomgår 13 olika steg och att målet är att få fler att lämna intresseanmälan på hemsidan. Sociala medier definieras som webbrelaterade tjänster där människor bland annat kan konversera, ta del av och utbyta information och knyta kontakter. Arbetsmarknaden har förändrats och anställningarna är inte lika stabila som tidigare. Arbetsrelaterad teknik överensstämde tidigare med en individs hela karriärutveckling. Idag förändras arbetet, organisationen och den tekniska utvecklingen betydligt snabbare, vilket innebär att en tjänst kan förändras radikalt på bara fem år. Detta innebär att urvalsprocesser och verktyg behöver uppdateras. Arbetsgivare utnyttjar flera olika verktyg för urval och rekrytering men informationen om användningen är begränsad.The most common recruitment route is through informal connections, and spontaneous visits are the second most common route. The use of the Employment Service (AF) as recruitment channel is consistently reduced and social media is increasingly used as recruiting tool. Many companies have difficulties recruiting staff with appropriate skills. The purpose of this paperis to examine how, and what social media is used in the recruitment context. The research strategy is a case study of the recruitment process at Länsförsäkringar Bergslagen. The empirical evidence includes internal documents and interviews with the personnel manager.The results show that the current recruitment process consists of 13 different steps and the goal is to get more individuals to leave their applications of interest on the homepage. Social media is defined as Web-related services where people can converse, receive and exchange information and establish contacts. The labour market has changed and jobs are not as stable as they used to be. Before, work-related technologies were consistent with an individual'sentire career. Today, work, organization and technological progress are changing much faster, which means a service can radically change in only five years. This means the selection processes and tools needs to be updated. Employers use a variety of tools for the selection and recruitment, but the information on their use is limited.
23
Pragmácio, Filho Eduardo. "Teoria da empresa para o direito do trabalho brasileiro." Pontifícia Universidade Católica de São Paulo, 2017. https://tede2.pucsp.br/handle/handle/20734.
Full textAbstract:
Submitted by Filipe dos Santos (fsantos@pucsp.br) on 2017-12-20T08:48:10Z
No. of bitstreams: 1
Eduardo Pragmácio Filho.pdf: 1721982 bytes, checksum: 7c926d05cee0014ccef274338a968924 (MD5)Made available in DSpace on 2017-12-20T08:48:10Z (GMT). No. of bitstreams: 1 Eduardo Pragmácio Filho.pdf: 1721982 bytes, checksum: 7c926d05cee0014ccef274338a968924 (MD5) Previous issue date: 2017-12-12
The Brazilian employment law does not reflect a relationship to economics. The first objective of this thesis is to show the relationship between economics and labor law since the Brazilian Labor Code considers the firm as an employer. The second objective is to point out new directions concerning employers’ responsibilities with respect to business practices based on the notions of risk and power. The methodology adopted is the bibliographic research. This thesis depicts some of the most important economic approaches of firm theory, such as the neoclassical, the principal-agent, the transaction costs (Ronald Coase), the nexus of contracts and the property rights (Oliver Hart). The four profiles of the enterprise (Asquini) and the business risks (Simon Deakin), notions from corporate law, are also discussed. Then, the firm is discussed in relation to the workplace in order to identify some examples of what David Weil called the "fissured workplace", such as supply chains and franchises. As an employer, the firm exercises five functions through one or several legal entities, according to Jeremias Prassl’s theory. The employer’s functional approach is (in an implicit way) reflected in the Brazilian Labor Code and can be perfectly applied to Brazilian employment law for a better assignation of responsibilities to the various entities that carry out one or more of the employers’ functions. The firm is a power, it has a political profile and needs to self-regulate through codes of conduct or through a new system of responsibility. Finally, the conclusion reached is that the notions from law and economics, regarding transaction costs, nexus of contracts, property rights, the profiles of the enterprise found in Asquini’s theory, and the notions of power and risk create new legal tools to produce an innovative employment relationship responsibility
O direito do trabalho brasileiro não dialoga com a economia. O primeiro objetivo desta tese é promover o necessário diálogo entre economia e direito do trabalho, para uma melhor compreensão do que é uma empresa, uma vez que a CLT considera como empregador a empresa. O segundo objetivo é apontar novos rumos da responsabilidade trabalhista para a atividade empresarial, a partir das noções de risco e de poder. A metodologia adotada é a pesquisa bibliográfica. Inicia-se com a apreciação das várias teorias econômicas da firma, como a neoclássica, a do agenciamento, a dos custos de transação de Ronald Coase, a do nexo de contratos e a dos direitos de propriedade consolidada por Oliver Hart. Abordam-se também as noções comercialistas da empresa de Asquini e o risco empresarial de Simon Deakin. Em seguida, a empresa é contextualizada no ambiente de trabalho, para se identificar os ambientes “fissurados” a que se refere David Weil, a exemplo das cadeias de abastecimento e das franquias. Como empregadora, a empresa exerce cinco funções, por meio de um ou de vários entes legais, de acordo com a teoria de Jeremias Prassl. Essa noção funcional do empregador é implicitamente adotada na CLT e pode perfeitamente ser trasladada ao direito do trabalho brasileiro, para uma melhor imputação de responsabilidades aos vários entes que exercem uma ou mais de uma função de empregador. A empresa é um poder, detém um perfil político e precisa exercer o autocontrole, por meio dos códigos de conduta ou de uma nova sistemática de responsabilidade. Por fim, a conclusão a que se chegou é que as noções, oriundas do law and economics, a respeito de custos de transação, nexo de contratos, direitos de propriedade, somadas aos perfis da empresa de Asquini, e acrescidas das noções de poder e de risco, tudo isso cria novas ferramentas para se imputar uma inovadora responsabilidade empresarial trabalhista
24
Song, Shiyun. "Three essays in transaction cost analysis." Thesis, University of Warwick, 2018. http://wrap.warwick.ac.uk/111211/.
Full textAbstract:
This thesis studies the impact of transaction costs on stocks prices and examine the impact of institutional investors and high frequency traders (HFTs) on market quality and transaction costs. It is comprised of three chapters. Chapter 2 uses a clean and novel field experiment to study how stock prices of publicly listed companies respond to changes in transaction costs. Using the SEC's pilot program that increased the tick size for approximately 1,200 randomly chosen stocks, we find a decrease in market capitalization of $7 billion for stocks affected by the larger tick size relative to a control group. We find that the increase in the present value of transaction costs accounts for a small percentage of the price decrease. We study channels of price variation due to changes in expected returns: investor horizon, liquidity risk, and information risk. The evidence suggests that trading frictions affect the cost of capital. Chapter 3 examines the effects of multimarket high-frequency trading (HFT) activity on liquidity co-movements across different markets. Multimarket trading by HFTs connects individual markets in a single network, which should induce stronger network-wide liquidity co-movements. We use the staggered introduction of an alternative trading platform, Chi-X, in European equity markets as our instrument for an exogenous increase in multimarket HFT activity. Consistent with our predictions, we find that liquidity co-movements within the aggregate network of European markets significantly increase after the introduction of Chi-X and even exceed liquidity co-movements within the home market. They are especially strong in down markets and for stocks with a higher intensity of HFT trading in the post-Chi-X period. Chapter 4 studies optimality of trade execution by institutional trading desks. We document the presence of negative autocorrelation in intraday stock return and show that the temporary price pressure is larger at the beginning and the end of the day. Institutional trading volume exhibits similar intraday pattern. We relate the periodity of price pressure to trading desks' performance using a proprietary database of institutional investor trades. We find that execution quality is the worst at the end of the day yet institutional trading volume is also surprisingly high. Poorer performing brokers in terms of execution shortfall trade more in the last hour of the day, have a higher execution cost at the end of the day, and carry out less order splitting at the end of the day. Our findings suggest that intraday price pressure stems from end of the day clustering of under-performing trading desks strategies results in higher trading costs and poorer execution quality. A trading strategy exploiting this intraday predictability yields a monthly return of 16.11%. Our results have implications on the impact of broker selection and execution strategy on trading costs.
25
Meyer, Stephan. "Energieeffizienzsteigerung entlang der Supply Chain – Entscheidungsmodell zur wertschöpfungskettenorientierten Emissionsminderung in Transformationsländern." Doctoral thesis, Saechsische Landesbibliothek- Staats- und Universitaetsbibliothek Dresden, 2012. http://nbn-resolving.de/urn:nbn:de:bsz:14-qucosa-83577.
Full textAbstract:
Die vorliegende Arbeit untersucht wie rationale Entscheidungsfindungen in Transformationsländern katalysiert werden können, indem durch den Fokus auf die internationale Wertschöpfungskette Synergieeffekte zwischen den Unternehmen genutzt und in deren Folge die Transaktionskosten, für Investitionsentscheidungen in energieeffiziente Technologien und Prozesse zur Erfüllung der Emissionsreduktionen, gesenkt werden können. Es wird das Wirken der Marktmechanismen analysiert und der Fokus auf die Transformationstheorie sowie die Ingenieurwissenschaften gelegt. Das Supply Chain Management, als anwendungsorientierte Realwissenschaft mit expliziter Ausrichtung auf Wertschöpfungsprozesse, wird in Bezug auf strategische Investitionsentscheidungen im Allgemeinen und Investitionen in Energieeffizienzmaßnahmen im Speziellen, weiterentwickelt. Mit Hilfe einer empirisch basierten Fallstudie werden die abgeleiteten Erkenntnisse einer kritischen Prüfung unterzogen und beispielhaft dargestellt, wie das entwickelte Entscheidungsmodell eingesetzt werden kann.
26
Greib, Martina. "Regionalmarketing in Euroregionen." Doctoral thesis, Humboldt-Universität zu Berlin, Landwirtschaftlich-Gärtnerische Fakultät, 2013. http://dx.doi.org/10.18452/16789.
Full textAbstract:
Euroregionen wird in Europa ein gewichtiger Beitrag zum länderübergreifenden Zusammenwachsen europäischer Grenzregionen beigemessen. Im internationalen Wettbewerb um fortschreitende wirtschaftliche Entwicklung, liefert Regionalmarketing einen Ansatz, um sich von anderen Regionen abzuheben und eigenständige regionale Wertschöpfungskreisläufe zu etablieren. Die vorliegende Arbeit setzt sich mit den Erfolgsfaktoren und Problemfeldern von Regionalmarketing und regionalen Marketinginitiativen in Euroregionen in Deutschland und Polen auseinander. Im Zuge der Forschung wird als Fallbeispiel die Euroregion Spree-Neiße-Bober mit ihren deutschen und polnischen (Teil-) Märkten betrachtet. Im Einzelnen gliedern sich die Kapitel wie folgt: Das erste Kapitel widmet sich den Euroregionen. Sodann wird die Untersuchungsregion, die Euroregion Spree-Neiße-Bober, mit ihren deutschen und polnischen Teilregionen vorgestellt und der Forschungsstand im Forschungsgebiet des Regionalmarketings präsentiert. Im folgenden Kapitel wird die Transaktionskostentheorie als ökonomischer Ansatz der neuen Institutionenökonomik dargestellt. Darauf basierend wird das analytische Modell der Arbeit abgeleitet und die Untersuchungsmethodik vorgestellt. Sodann werden in Kapitel 7 und 8 die Forschungsergebnisse auf der Basis der Produzenten, Dienstleister-, Einzelhandels- und Händlerbefragung erläutert. In Kapitel 9 werden die Forschungsergebnisse für die gesamte Euroregion Spree-Neiße-Bober synthetisiert, neue wissenschaftliche Erkenntnisse präsentiert und Empfehlungen für vertiefende Forschungsarbeiten gegeben. Die Arbeit schließt mit Handlungsempfehlungen und der Skizzierung der Entwicklungsperspektiven für grenzüberschreitende Marketinginitiativen ab.A weighty contribution to the cross-border integration of European border regions is measured in so called „Euroregions“ in Europe. In the international competition for progressive economic development, regional marketing provides an approach to differentiate themselves from other regions and to establish independent regional value creation cycles. The present work deals with the success factors and challenges of regional marketing and regional marketing initiatives in Euroregions in Germany and Poland. In the context of research a case study is undertaken in the Spree-Neiße-Bober Euroregion paying tribute to its different German and Polish (partial) markets. In particular, the chapters are divided as follows: the first chapter is devoted to European cross-border and Euroregions. Then, the study region, the Spree-Neiße-Bober Euroregion is introduced and the present state of research in the field of regional marketing displayed. The following chapter describes the transaction costs theory before the analytic model is derived and the investigation methodology introduced. In chapter 7 and 8 the research results show the effects of regional marketing on producers, service providers, food manufacturers and traders in Germany and Poland. In the final chapter 9 the results of the research are synthesised, new scientific knowledge is presented and recommendations is given for deepening research projects. The work concludes with action recommendations and the sketching of the developing perspectives for international marketing initiatives.
27
Lee, Woonghee. "A theory of alliance governance : a strategic option alternative to transaction cost theory." Connect to resource, 1998. http://rave.ohiolink.edu/etdc/view.cgi?acc%5Fnum=osu1263404762.
Full text
28
Ramirez, Coelho Gabriel. "Estudo sobre contratos entre investidores e gestores de venture capital no Brasil." reponame:Repositório Institucional do FGV, 2007. http://hdl.handle.net/10438/1828.
Full textAbstract:
Made available in DSpace on 2010-04-20T20:58:01Z (GMT). No. of bitstreams: 3
GabrielRamirezCoelho09032007.pdf.jpg: 13935 bytes, checksum: 3f3eb512654eb4aab5795e66a64e3ff1 (MD5)
GabrielRamirezCoelho09032007.pdf.txt: 55253 bytes, checksum: 70baafb810cc2a579c699206c014fc48 (MD5)
GabrielRamirezCoelho09032007.pdf: 311369 bytes, checksum: 4bd2e40af4810a1317ab7434ded20f0e (MD5)
Previous issue date: 2007-03-09T00:00:00ZDuring the last two decades, the private equity and venture capital industry role in Brazil has significantly increased, with the expansion of resources under management and number of transactions. At the same time, the degree of sophistication of its legal environment and contractual structures has increased to cope with the particularly intense agency problems present due to (i) low liquidity of assets; (ii) the long term nature of contracts; (iii) the potentially huge asymmetry of information between investors and managers. This dissertation explores the presence of restrictions to the venture capital fund managers’ activities; and shows that there is a strong relation between the number of restrictions and the intensity of agency problems, but inconclusive evidence relating the restrictions to demand conditions.
Nas duas últimas décadas, o papel dos setores de private equity e venture capital no Brasil aumentou significativamente, com a expansão do volume de recursos sob gestão e do número de transações. Ao mesmo tempo, a sofisticação do marco legal e das formas de contratação aumentou para que fosse possível lidar com os problemas de agência, que são particularmente intensos devido (i) à baixa liquidez dos ativos em que investe, (ii) à duração do compromisso entre as partes e (iii) à potencialmente elevada assimetria de informação entre elas. Este trabalho explora a presença de restrições às atividades dos gestores de recursos de private equity e venture capital, e mostra que há uma forte correlação entre a quantidade de restrições e a intensidade dos problemas de agência, mas que as evidências quanto à relação entre as restrições e as condições de demanda não são conclusivas.
29
Samouel, Phillip. "Power, relational norms and transaction cost analysis : theory and empirical investigation." Thesis, Henley Business School, 1996. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.295194.
Full text
30
Costa, Ant?nio Rufino da. "Inser??o de fornecedores locais como fonte de desempenhos em custos de transa??o e legitimidade: estudo de caso na cadeia produtiva do petr?leo e g?s do Rio Grande do Norte." Universidade Federal do Rio Grande do Norte, 2009. http://repositorio.ufrn.br:8080/jspui/handle/123456789/12122.
Full textAbstract:
Made available in DSpace on 2014-12-17T13:53:21Z (GMT). No. of bitstreams: 1
AntonioRC.pdf: 968864 bytes, checksum: bd9bd71d7644639e273e54d6c7cf20a2 (MD5)
Previous issue date: 2009-02-02The inclusion of local suppliers in production chains has considerable impact on its performance, but most notably in its main actors. The results of this process may be of different kinds and can be analyzed from economic or institutional approaches. This study aimed to verify the existence of different performances of Petrobras due to the inclusion of local suppliers in the oil and gas production chain in the state of Rio Grande do Norte, from the viewpoints of transaction costs and the Institutional Theory. In order to this, were made the characterization of the PROMINP, the description of its actions and results, the mapping of its institutional context of reference, and identification of results obtained by Petrobras in terms of transaction costs and legitimacy. The theoretical framework is based on authors dealing with industrial concentration, as like Marshall, Krugman, Porter and Schmitz, from the sociological perspective of neoinstitucional theory, as like DiMaggio and Powell and Scott and Meyer, and transaction costs, as like Williamson. This is a qualitative research, with data collection done by consulting secondary fonts and semi-structured interviews with nineteen actors of three groups, namely: actors involved in actions of the program, representatives of enterprises and representative of Petrobras. To analyze the content was used the Suchman s model (1995) for categories associated with strategies of legitimation and fourteen variables associated with the three variables assets specificity, bounded rationality and opportunism (Williamson, 1995, 1989) in the case of transaction costs. The results indicate that PROMINP has achieved its objectives by encouraging the increased participation of local companies in the oil and gas production chain, reflecting in the economic development of the state. The Redepetro/RN, fostered and built upon the interaction of the participants, is presented as a solution of continuity to the participation of enterprises in the chain, after the closure of the actions of the program. PROMINP demands responses to coercive, legislative and regulatory pressures of the organizational field, whose institutional context of reference is wide. From the point of view of legitimacy, through strategies to gain cognitive legitimacy and maintaining pragmatic legitimacy, Petrobras can manipulate the environment, ensuring the compliance of the constituents to their technical and institutional demands. Enterprises, in turn, respond to the demands through compliance with technical demands, mainly through the certification of processes, and cultural changes. There aren t clear gains related to the transaction costs, however, gains in legitimacy can be seen as a cumulative capital that can serve as a competitive differential that generates economic gains. In terms of theoretical findings, it was found that, due to its explanatory power for actions that are difficult to explain only in economic terms, Institutional Theory may be used as theoretical support concurrent with other theories. TCE model has limitations in explaining the program actions. In the case, it s emphasized that Petrobras doesn t seek only economic efficiency, but has in its mission the commitment to social development.
A inser??o de fornecedores locais em cadeias produtivas tem impacto consider?vel no seu desempenho, mas mais notadamente no de seus principais atores. Os resultados desse processo podem ser de ordem diversa e podem ser analisados a partir de uma vertente mais economicista ou pelo uso de uma abordagem institucional. O presente estudo teve como objetivo verificar a exist?ncia de desempenhos diferenciados da Petrobras devidos ? inser??o de fornecedores locais na cadeia produtiva do petr?leo e g?s no estado do Rio Grande do Norte, sob a ?tica da Economia dos Custos de Transa??o e da Teoria Institucional. Para tanto, foram realizadas a caracteriza??o do PROMINP, a descri??o das a??es e resultados do programa, o mapeamento do seu contexto institucional de refer?ncia e a identifica??o dos resultados obtidos pela Petrobras em termos de custos de transa??o e ? legitimidade. O referencial te?rico tomou por base autores que tratam da concentra??o industrial, como Marshall, Krugman, Porter e Schmitz, da perspectiva sociol?gica da teoria neo-institucional, como DiMaggio e Powell e Scott e Meyer e da Economia dos Custos de Transa??o, como Williamson. Trata-se de uma pesquisa qualitativa, com coleta de dados efetuada atrav?s de consulta a dados secund?rios e entrevistas semi-estruturadas com dezenove atores de tr?s grupos: envolvidos em a??es do programa, representantes de empresas e representante da Petrobras. Para an?lise do conte?do foi utilizado o modelo de Suchman (1995) para as categorias associadas ?s estrat?gias de legitima??o e catorze categorias associadas ?s vari?veis especificidade dos ativos, racionalidade limitada e oportunismo (Williamson, 1995, 1989) no caso dos custos de transa??o. Os resultados indicam que o PROMINP tem conseguido atingir seus objetivos favorecendo o aumento da participa??o das empresas locais na cadeia produtiva do petr?leo e g?s, refletindo no desenvolvimento econ?mico do estado. A Redepetro/RN, fomentada e criada a partir da intera??o dos participantes, apresenta-se como uma solu??o de continuidade ? participa??o das empresas da cadeia, ap?s o encerramento das a??es do programa. O PROMINP procura dar respostas a press?es coercitivas, normativas e regulat?rias do campo organizacional, cujo contexto institucional de refer?ncia ? amplo. Do ponto de vista da legitima??o, atrav?s de estrat?gias de ganho da legitimidade cognitiva e de manuten??o da legitimidade pragm?tica, a Petrobras consegue manipular o ambiente, garantindo a conformidade dos constituintes ?s suas demandas t?cnicas e institucionais. As empresas, por sua vez, respondem atrav?s da conformidade ?s demandas t?cnicas, principalmente atrav?s da certifica??o de processos, e de mudan?as culturais. N?o s?o claros os ganhos associados aos custos de transa??o, contudo, os ganhos com a legitimidade podem ser vistos como um capital acumulado que pode servir como um diferencial competitivo que gera ganhos econ?micos. Em termos de achados te?ricos, se conclui que, devido ao seu poder explicativo para a??es de dif?cil explica??o apenas em termos econ?micos, a Teoria Institucional pode ser utilizada concomitante a outras teorias. A ECT apresentou limita??es para explicar as a??es do programa. No caso estudado, ressalta-se que a Petrobras n?o busca apenas a efici?ncia econ?mica, mas tem na sua miss?o o compromisso com o desenvolvimento social.
31
Olanders, David. "Optimal Time-Varying Cash Allocation." Thesis, KTH, Matematisk statistik, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-273626.
Full textAbstract:
A payment is the most fundamental aspect of a trade that involves funds. In recent years, the development of new payment services has accelerated significantly as the world has moved further into the digital era. This transition has led to an increased demand of digital payment solutions that can handle trades across the world. As trades today can be agreed at any time wherever the payer and payee are located, the party that mediates payments must at any time to be available in order to mediate an agreed exchange. This requires the payment service provider to always have funds available in the required countries and currencies in order for trades to always be available. This thesis concerns how a payment service provider can reallocate capital in a cost efficient way in order for trades to always be available. Traditionally, the reallocation of capital is done in a rule-based manner, which discard the cost dimension and thereby only focus on the reallocation itself. This thesis concerns methods to optimally reallocate capital focusing on the cost of transferring capital within the network. Where the concerned methods has the potential of transferring capital in a far more cost efficient way. When mathematically formulating the reallocation decisions as an optimization problem, the cost function is formulated as a linear program with both Boolean and real constraints. This impose non-feasibility of locating the optimal solution using traditional methods for linear programs, why developed traditional and more advanced methods were used. The model was evaluated based on a large number of simulations in comparison with the performance of a rule-based reallocation system. The developed model provides a significant cost reduction compared to the rule-based approach and thereby outperforms the traditional reallocation system. Future work should focus on expanding the model by broadening the available transfer options, by increasing the considered uncertainty via a bayesian treatment and finally by considering all cost aspects of the network.En betalning är den mest fundamentala aspekten av handel som involverar kapital. De senaste åren har utvecklingen av nya betalmedel ökat drastiskt då världen fortsatt att utvecklas genom digitaliseringen. Utvecklingen har lett till en ökad efterfrågan på digitala betalningslösningar som kan hantera handel över hela världen. Då handel idag kan ske när som helst oberoende av var betalaren och betalningsmottagaren befinner sig, måste systemet som genomför betalningen alltid vara tillgängligt för att kunna förmedla handel mellan olika parter. Detta kräver att betalningssystemet alltid måste ha medel tillgängligt i efterfrågade länder och valutor för att handeln ska kunna genomföras. Den här uppsatsen fokuserar på hur kapital kostnadseffektivt kan omallokeras i ett betalsystem för att säkerställa att handel alltid är tillgängligt. Traditionellt har omallokeringen av kapital gjorts på ett regelbaserat sätt, vilket inte tagit hänsyn till kostnadsdimensionen och därigenom enbart fokuserat på själva omallokeringen. Den här uppsatsen använder metoder för att optimalt omallokera kapital baserat på kostnaderna för omallokeringen. Därigenom skapas en möjlighet att flytta kapital på ett avsevärt mer kostnadseffektivt sätt. När omallokeringsbesluten formuleras matematiskt som ett optimeringsproblem är kostnadsfunktionen formulerad som ett linjärt program med både Booleska och reella begränsningar av variablerna. Detta gör att traditionella lösningsmetoder för linjära program inte är användningsbara för att finna den optimala lösningen, varför vidareutveckling av tradtionella metoder tillsammans med mer avancerade metoder använts. Modellen utvärderades baserat på ett stort antal simuleringar som jämförde dess prestanda med det regelbaserade systemet. Den utvecklade modellen presterar en signfikant kostnadsreduktion i jämförelse med det regelbaserade systemet och överträffar därigenom det traditionellt använda systemet. Framtida arbete bör fokusera på att expandera modellen genom att utöka de potentiella överföringsmöjligheterna, att ta ökad hänsyn till osäkerhet genom en bayesiansk hantering, samt slutligen att integrera samtliga kostnadsaspekter i nätverket.
32
Benedetti, Giuseppe. "Investissement optimal et évaluation d'actifs sous certaines imperfections de marché." Phd thesis, Université Paris Dauphine - Paris IX, 2013. http://tel.archives-ouvertes.fr/tel-00957313.
Full textAbstract:
Dans cette thèse, nous nous intéressons à des sujets différents en mathématiques financières, tous liés aux imperfections de marché et à la technique fondamentale de la maximisation d'utilité. Elle comporte trois parties. Dans la première, qui se base sur deux papiers, nous considérons le problème d'investissement optimal sur un marché financier avec coûts de transaction proportionnels. On commence par étudier le problème d'investissement dans le cas où la fonction d'utilité est multivariée (ce qui s'adapte particulièrement bien aux marchés des devises) et l'agent a une dotation initiale aléatoire, qui peut s'interpréter comme une option ou un autre contrat dérivé. Après avoir analysé les propriétés du problème et de son dual, nous utilisons ces résultats pour examiner, dans ce contexte, certains aspects d'une technique de pricing devenue populaire dans le cadre des marchés incomplets, l'évaluation par indifférence d'utilité. Dans le deuxième chapitre, nous étudions le problème d'existence d'un ensemble de prix (appelés "prix fictifs" ou "shadow prices") qui offrirait la même utilité maximale à l'agent si le marché n'avait pas de frictions. Ces résultats sont utiles pour clarifier le lien entre la théorie classique des marchés sans frictions et la littérature en croissance rapide sur les coûts de transaction. Dans la deuxième partie de cette thèse, nous considérons le problème d'évaluation de produits dérivés par indifférence d'utilité dans des marchés incomplets, où la source d'incomplétude provient du fait que certains actifs ne peuvent pas être échangés sur le marché, ce qui est le cas par exemple dans le cadre des modèles structurels pour le prix de l'électricité. Sous certaines hypothèses, nous dérivons une caractérisation en terme d'équations différentielles stochastiques rétrogrades (EDSR) pour le prix, et nous nous concentrons ensuite sur les options européennes en établissant en particulier l'existence d'une stratégie de couverture optimale, même lorsque le payoff présente des discontinuités et est éventuellement non borné. Dans la dernière partie, nous analysons un simple problème de principal-agent à horizon fini, où le principal est essentiellement interprété comme un régulateur et l'agent comme une entreprise qui produit certaines émissions polluantes. Nous traitons séparément les problèmes du principal et de l'agent et nous utilisons la théorie des EDSR pour fournir des conditions nécessaires et suffisantes d'optimalité. Nous effectuons également des analyses de sensibilité et nous montrons des résultats numériques dans le but de fournir une meilleure compréhension du comportement des agents.
33
Hennart, Jean-François. "Digitalized service multinationals and international business theory." Palgrave Macmillan UK, 2019. http://dx.doi.org/10.1057/s41267-019-00256-2.
Full textAbstract:
Banalieva and Dhanaraj argue that digital service multinationals (DSMNCs) possess a new category of firm-specific advantage (FSA), the network advantage, and that, contrary to extant theory, they use networks as a mode of governance. I review the business models used by DSMNCs, compare them to non-digital ones, and explore what we can learn about them from extant IB theory. I conclude that network advantages are not a new category of FSAs, that networks are not a mode of governance, and that their use by DSMNCs is well explained by extant theory.
34
Novais, Ana Lúcia Moura. "Influências institucionais, culturais e de custos de transação na escolha do modo de entrada: uma proposta para meta-análise." Pontifícia Universidade Católica de São Paulo, 2013. https://tede2.pucsp.br/handle/handle/1068.
Full textAbstract:
Made available in DSpace on 2016-04-25T16:44:34Z (GMT). No. of bitstreams: 1
Ana Lucia Moura Novais.pdf: 1994366 bytes, checksum: 707c3919d6da09df41fa9a012905ad62 (MD5)
Previous issue date: 2013-06-12Coordenação de Aperfeiçoamento de Pessoal de Nível Superior
This research work adopts as reference the article by Brouthers awarded as the best of the decade by Journal of International Business Studies (JIBS). One of the aspects to be outlined in such text is the way Brouthers articulate a debate on institutional, cultural and transaction costs on entry mode choice by firms aiming the best performance in market. This thesis aims to investigate the actual research art involving the relationship among institutional, cultural and transaction costs aspects in international business. The discussion proposed here is justified as relevant in both academic and business environments, due to the way different authors have approached transaction costs subjects along the time. As methodological procedures, the articles were obtained in electronic databases, such as, ISI Web of Science and UMI-ProQuest. The key words were transaction cost , entry mode , cultural aspects , institutional . The selected articles were published in the period from 2002 to 2012. Articles structured in meta-analysis procedures were also selected in the referred database. All selected articles are quantitative approach, since it is an essential condition to adopt in the future meta-analytical procedures
Esta pesquisa tem por referência o artigo de Brouthers que recebeu em 2012 o prêmio de melhor da década pelo periódico Journal of International Business Studies (JIBS). Um dos motivos que chama a atenção neste texto premiado de Brouthers é a articulação de influências institucionais, culturais e de custos de transação no processo de escolha do modo de entrada e meios para obter o melhor desempenho das empresas. Estabelece-se como objetivo geral desta dissertação investigar o estado atual da pesquisa acadêmica envolvendo a relação entre aspectos institucionais, culturais e custos de transação no modo de entrada em negócios internacionais. Como justificativa para a relevância da discussão do tema em meios acadêmicos e empresariais, pode-se destacar a ênfase que diferentes autores têm atribuído à teoria de custos de transação no decorrer do tempo. Como procedimento metodológico, obteve-se a seleção de artigos pela consulta às bases eletrônicas do ISI Web of Science e UMI-ProQuest. Escolheram-se as palavras-chave em inglês transaction cost , entry mode , cultural aspects , institutional . Optou-se por artigos publicados no período de 2002 a 2012. A partir daí, selecionaram-se alguns artigos já estruturados na metodologia de meta-análise com temas relacionados à teoria de custos de transação. Procedimento semelhante foi adotado com os demais artigos, com o intuito de averiguar como são analisados aspectos institucionais, culturais e/ou de custos de transação na escolha do modo de entrada em negócios internacionais. Os estudos selecionados constituem abordagens quantitativas sobre os assuntos propostos, condição essencial para se adotar futuramente a metodologia de meta-análise
35
Yazdani, Nahid M. "Export mode portfolio : transaction cost economics and real options perspectives." Thesis, Loughborough University, 2017. https://dspace.lboro.ac.uk/2134/33486.
Full textAbstract:
Exporting plays an imperative role in many firms growth and survival. For that reason, a profound understanding of export operations is of interest to researchers as well as practitioners. Choosing the export mode is one of the most important strategic decisions a firm makes when exporting to its foreign markets. This decision may affect the firm s resource allocations and shape the possibility of future foreign expansion, and thus has potential performance implications. This study acknowledges that export mode choices should contribute to the firm success initially and on a continuous basis. Hence, it recognises the interlinked nature of export mode operations, and, for the first time, adapts a holistic view on export operation modes. Introducing the portfolio logic, this study investigates antecedents of the export mode portfolio and its performance implications. Two different theoretical approaches of transaction cost economics (TCE) and real options (RO) were used to distinguish different possible export mode portfolios of a firm. The study model is empirically tested using data from 250 Chinese export firms. From the TCE perspective, the finding suggests that firms' levels of investment uncertainty and export marketing capability are the main drivers of an internalised export mode portfolio. From the RO theory viewpoint, on the other hand, the result indicates that firms' levels of endogenous uncertainties (i.e. cultural uncertainty and technological uncertainty) are positively related to the intensity of use of Joint-Investment export modes in the portfolio of firms. In ddition, as expected, the greater the preponderance of exogenous uncertainties (i.e. investment uncertainty and demand uncertainty) the higher the proportion of No-Investment export modes in the portfolio of the firm. Further analysis of firms' export performance reveals that firms shaping their export mode portfolios according to the predictions of real options out-perform firms that shape their export mode portfolio based on TCE considerations. More specifically, firms that reduce their endogenous uncertainty, by engaging more in Joint- Investment modes of export operation across their portfolio, benefit from higher profit performance. The new model developed in this study provides a tool that enables scholars to give better advice to exporters on how they can structure their export mode portfolio for enhanced export profit.
36
Zaharieva, Elissaveta. "Supply chain management and international marketing problems in transitional economies : evidence from the Bulgarian wine industry." Thesis, University of Newcastle Upon Tyne, 2002. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.273515.
Full text
37
Carey, Thomas P. A. "Bank-customer relationships : a research study based on the application of transaction cost theory." Thesis, Henley Business School, 1997. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.363542.
Full text
38
Dimou, Irini. "Expansion strategies of international hotel firms : a transaction cost economics and agency theory approach." Thesis, University of Surrey, 2004. http://epubs.surrey.ac.uk/918/.
Full text
39
Florou, Aikaterini. "Contractual renegotiations and International investment arbitration : a relational contract theory interpretation of investment treaties." Thesis, Paris, Institut d'études politiques, 2017. http://www.theses.fr/2017IEPP0026.
Full textAbstract:
La relation entre les traites internationaux d’investissement et les contrats sous-jacents reste un sujet très contentieux dans le domaine du droit international de l’investissement. Cette thèse explore l’interaction entre le contrat et le traité en utilisant la renégociation des contrats règlementaires dans le secteur de l’infrastructure énergétique comme un exemple d’ « expérience naturelle », en se focalisant en particulier sur les litiges arbitraux découlant de la crise économique en Argentine. A cette fin, un cadre analytique original, s’inspirant de l’économie des coûts de transaction et la théorie du contrat relationnel. Le résultat de la combinaison originelle de ces deux cadres analytiques est la construction d’une méthodologie interprétative proposant une approche d’intégration entre les deux instruments – le contrat et le traité – d’une manière apportant plus d’équilibre entre les intérêts publics et privés souvent opposés. La thèse est fondée en particulier sur trois arguments : le premier est la nature des standards dynamiques des traités comme contrats relationnels exigeant la coopération des parties à long terme. Le deuxième est le statut de ces standards vagues comme règles par défaut, complémentés par les provisions des contrats sous-jacents, qui sont aussi relationnels et fonctionnent comme « gap fillers ». Le dernier argument, normatif, est que la relation entre ces règles (par défaut) des traites et les provisions contractuels doit être déterminée par l’économie des coûts de transaction, et en particulier le but d’économiser les coûts de transaction découlant de la rationalité limitée et l’opportunisme durant l’interprétation des standards relationnels des traitésThe relationship between international investment treaties and the underlying contracts remains a highly disputed matter in international investment law. This thesis explored the contract-treaty interaction by using the renegotiation of regulatory contracts in the sector of energy infrastructure as a natural experiment, with a particular emphasis on the arbitral disputes that arose from the Argentine crisis. It deployed to this end an original analytical framework drawing from transaction cost economics and relational contract theory. The result of the novel combination of these two analytical frameworks is the construction of an interpretative methodology that takes an integrated approach to the two instruments – the contract and the overarching treaty – in a way that achieves a more sustainable balance between the competing public and private interests. In particular, the thesis rests on three arguments: the first is the relational-contract nature of dynamic treaty standards, which require the long-term cooperation of the parties. The second is the status of these vague standards as default rules complemented by the provisions of the underlying contracts, which are also relational, and act as gap-fillers. The last, normative argument is that the relationship between these (default) treaty rules and the (gap-filling) contractual provisions should be determined by transaction cost economics, and specifically the goal of economizing on the transaction costs of bounded rationality and opportunism when and interpreting relational treaty standards
40
Schachermayer, Walter. "The fundamental theorem of asset pricing under proportional transaction costs in finite discrete time." SFB Adaptive Information Systems and Modelling in Economics and Management Science, WU Vienna University of Economics and Business, 2002. http://epub.wu.ac.at/1512/1/document.pdf.
Full textAbstract:
We prove a version of the Fundamental Theorem of Asset Pricing, which applies to Kabanov's approach to foreign exchange markets under transaction costs. The financial market is modelled by a d x d matrix-valued stochastic process Sigma_t_t=0^T specifying the mutual bid and ask prices between d assets. We introduce the notion of ``robust no arbitrage", which is a version of the no arbitrage concept, robust with respect to small changes of the bid ask spreads of Sigma_t_t=0^T. Dually, we interpret a concept used by Kabanov and his co-authors as "strictly consistent price systems". We show that this concept extends the notion of equivalent martingale measures, playing a well-known role in the frictionless case, to the present setting of bid-ask processes Sigma_t_t=0^T. The main theorem states that the bid-ask process Sigma_t_t=0^T satisfies the robust no arbitrage condition if it admits a strictly consistent pricing system. This result extends the theorems of Harrison-Pliska and Dalang-Morton-Willinger to the present setting, and also generalizes previous results obtained by Kabanov, Rasonyi and Stricker. An example of a 5-times-5-dimensional process Sigma_t_t=0^2 shows that, in this theorem, the robust no arbitrage condition cannot be replaced by the so-called strict no arbitrage condition, thus answering negatively a question raised by Kabanov, Rasonyi and Stricker. (author's abstract)Series: Working Papers SFB "Adaptive Information Systems and Modelling in Economics and Management Science"
41
Angoshtari, Bahman. "Stochastic modeling and methods for portfolio management in cointegrated markets." Thesis, University of Oxford, 2014. http://ora.ox.ac.uk/objects/uuid:1ae9236c-4bf0-4d9b-a694-f08e1b8713c0.
Full textAbstract:
In this thesis we study the utility maximization problem for assets whose prices are cointegrated, which arises from the investment practice of convergence trading and its special forms, pairs trading and spread trading. The major theme in the first two chapters of the thesis, is to investigate the assumption of market-neutrality of the optimal convergence trading strategies, which is a ubiquitous assumption taken by practitioners and academics alike. This assumption lacks a theoretical justification and, to the best of our knowledge, the only relevant study is Liu and Timmermann (2013) which implies that the optimal convergence strategies are, in general, not market-neutral. We start by considering a minimalistic pairs-trading scenario with two cointegrated stocks and solve the Merton investment problem with power and logarithmic utilities. We pay special attention to when/if the stochastic control problem is well-posed, which is overlooked in the study done by Liu and Timmermann (2013). In particular, we show that the problem is ill-posed if and only if the agent’s risk-aversion is less than a constant which is an explicit function of the market parameters. This condition, in turn, yields the necessary and sufficient condition for well-posedness of the Merton problem for all possible values of agent’s risk-aversion. The resulting well-posedness condition is surprisingly strict and, in particular, is equivalent to assuming the optimal investment strategy in the stocks to be market-neutral. Furthermore, it is shown that the well-posedness condition is equivalent to applying Novikov’s condition to the market-price of risk, which is a ubiquitous sufficient condition for imposing absence of arbitrage. To the best of our knowledge, these are the only theoretical results for supporting the assumption of market-neutrality of convergence trading strategies. We then generalise the results to the more realistic setting of multiple cointegrated assets, assuming risk factors that effects the asset returns, and general utility functions for investor’s preference. In the process of generalising the bivariate results, we also obtained some well-posedness conditions for matrix Riccati differential equations which are, to the best of our knowledge, new. In the last chapter, we set up and justify a Merton problem that is related to spread-trading with two futures assets and assuming proportional transaction costs. The model possesses three characteristics whose combination makes it different from the existing literature on proportional transaction costs: 1) finite time horizon, 2) Multiple risky assets 3) stochastic opportunity set. We introduce the HJB equation and provide rigorous arguments showing that the corresponding value function is the viscosity solution of the HJB equation. We end the chapter by devising a numerical scheme, based on the penalty method of Forsyth and Vetzal (2002), to approximate the viscosity solution of the HJB equation.
42
Nilsson, Johannes, and Mattias Wramsmyr. "Objective eyes in large IT-projects : Making sense of the expertise." Thesis, Jönköping University, Jönköping International Business School, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-519.
Full textAbstract:
Introduction: Over half of the Swedish IT-projects get delayed and more expensive than budgeted. Large corporations and governmental institutions stand before the process of investigating in new IT-systems in intervals of three to five years. In order to decrease the cost, an external consultant with large experience in IT-purchases could be used by the customers. These consultants does today work solely for the customers, helping them to find the best solution. We want to see if an external consultant instead could act as an inde-pendent moderator between the supplier and customer in the IT-systems lifecycle.
Purpose: The purpose of this study is to describe and analyze problems and possible solutions related to the involvement of third party consultants in larger IT-projects. In particular, we will investigate when and where in the project cycle it could be beneficial to use an independent moderator.
Method: We have conducted semi-structured interviews with six organizations to get an understanding about consultants in IT-projects. Four of the interviewed were IT-managers at organizations were large IT-systems are bought and implemented. Then, two of the in-terviewed represented the supplier companies that sell large IT-systems.
Frame of reference: Transaction cost theory and agency theory has been used. Transac-tion cost theory is a theory on whether you should conduct the service internally or purchase it from external firms. Agency theory describes problems in the relationship between a principal and an agent. The agent has a diversified interest towards the principal. In our case, the agent is a consultant.
Conclusion: The implementation phase benefits from using an external moderator who monitors what the customer needs, and then in a continuous interval measures if the project is aligning towards the stated goal. This can lower the failure of information and identify problem areas early and thereby prevent costly adjustments later in the project. An in-dependent moderator with a high degree of routine and specific knowledge could enhance communication, create a better fit of the implemented system and foresee opportunistic advices from suppliers. In the pre-study phase there are benefits for the customer with evaluating the need, stating specific demands and define a clear goal.
43
Chen, Shun-Chang, and 陳炫璋. "Switching Costs Cooperation Intention: The Viewpoints of Sociological Exchange Theory and Transaction Cost Theory." Thesis, 2002. http://ndltd.ncl.edu.tw/handle/90773556156108653424.
Full textAbstract:
碩士東海大學
企業管理學系碩士班
90
Abstract Switching costs play an important role of exit barrier in buyer-supplier relationships. Switching suppliers not only reduces the value of the asset-specific investments but also implies giving up future returns. In the mean time, the customer may incur direct searching and evaluating costs. Besides, in an increasingly competitive market, customers hope to raise bargaining power and reduce the risk of management. On the other hand, suppliers hope to keep long-term and stable relationships with customers to avoid the shock of price war in the industry. Therefore, the cost of switching is worth studying when we analyze the buyer-supplier relationships. The viewpoint of the transaction cost which is applied to study switching costs in most of the past marketing literature about buyer-supplier relationships emphasizes the cognitive assessment such as prior partner-specific investments in physical assets, organizational procedures, and employee training. However, the research here suggests that the switching costs should include the psychological, emotional and affective costs such as human touch, trustworthiness, preference and so forth. To discuss switching costs empirically, the author cites four variables － guanxi, commitment, power, and reputation － in sociological exchange theory , and three variables－ asset specificity, flexibility, and adaptation － in transaction cost theory. In theoretical implications, the results show that switching costs do involve the “affective switching costs” which emphasize psychological, emotional and affective evaluation, and “cognitive switching costs” which focus on cognitive evaluation such as facts and data. The former has significantly positive effect on cooperation intention. However, it should be to notice that the latter has negative effect on cooperation intention. This may be because customers want to reduce the risk of management and raise their bargaining power. Besides, the results indicate that the variables based on sociological exchange theory and transaction cost theory have significant effects on switching costs. In practical implications, the results suggest that customers can reduce the risk of management by lowering switching costs. On the other hand, suppliers can build competitive advantages by raising customers’ switching costs. Key Word: switching costs, sociological exchange theory, transaction cost theory, and cooperation intention.
44
Crook, Thomas Russell Combs James G. "Transaction attributes and governance choice a meta-analytic examination of key transaction cost theory predictions /." Diss., 2005. http://etd.lib.fsu.edu/theses/available/etd-06242005-171552.
Full textAbstract:
Thesis (Ph. D.)--Florida State University, 2005.Advisors: Dr. David D. Ketchen, Jr., Dr. James G. Combs, Florida State University, College of Business, Dept. of Management. Title and description from dissertation home page (viewed Sept. 15, 2005). Document formatted into pages; contains viii, 140 pages. Includes bibliographical references.
45
"Knowledge, transferability cost, and transaction cost in MNC: a reconsideration of internalization theory." Thesis, 2000. http://library.cuhk.edu.hk/record=b6073912.
Full textAbstract:
For several decades, the explanation of the existence of the Multinational Corporation (MNC) has been monopolized by transaction cost theory. The dominance of transaction cost theory in explaining the propensity of internalization was unchallenged until Kogut and Zander (1993) proposed that the superior efficiency of internalization could be explained by the nature of knowledge. Kogut and Zander claimed that the superior efficiency of knowledge transfer within the firm compared to between firms can sufficiently explain the propensity of internalization, and that market failure was not a necessary condition for internalization. Although their study is of considerably significant---they pointed out a new direction for considering the existence of MNC, the argument that market failure was not a necessary condition to internalization is logically and conceptually incorrect, and their empirical examination did not correctly support their argument.It was found that the tacitness of knowledge is positively related to the propensity of internalization, transferability cost, and transaction cost. The positive correlations between transferability cost and the propensity of internalization, and between the transaction cost and the propensity of internalization were found. Accordingly, both transferability cost and transaction cost are mediators between the tacitness of knowledge and the propensity of internalization, and transferability cost can independently explain the superior efficiency of internalization.
The current study challenges the transaction cost theory explanation of internalization advantage by developing the construct of transferability cost, which is conceptually and empirically different from transaction cost. Transferability cost results from the dissemination and assimilation of knowledge, but transaction cost is a consequence of opportunism. The quantity of transferability cost is determined by the transferee's absorptive capability, the transferor's experience on knowledge transfer, the similarity between the transferred knowledge and the transferee's prior knowledge, and the nature of the transferred knowledge. However, transferability cost is determined by asset specificity, asymmetric information distribution, human self-interest nature, and the nature of transferred knowledge.
The identification of transferability cost provides us a convincing theoretical base to reconsider internalization theory. It is also helpful for managers to rationalize their decisions on several issues.
Cao Shengrong.
"April 2000."
Adviser: Kent Neupert.
Source: Dissertation Abstracts International, Volume: 61-08, Section: A, page: 3238.
Thesis (Ph.D.)--Chinese University of Hong Kong, 2000.
Includes bibliographical references (p. 178-194).
Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web.
Electronic reproduction. Ann Arbor, MI : ProQuest dissertations and theses, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web.
Abstracts in English and Chinese.
School code: 1307.
46
Silva, Ana Carolina Santiago Oliveira e. "Transaction cost theory application: the case of Yser Green Energy SA." Master's thesis, 2019. http://hdl.handle.net/10773/27696.
Full textAbstract:
Acknowledge the beneficial effects on the environment by replacing fossil fuels with wood pellets, this study aims, in the context of a pellet producer, to analyse the transaction costs of the entire process of working the entire process for biomass transformation in pellets, from raw materials to processing.
This study analyses the value chain of the company, applying the Transaction Cost Theory and trying to understand if there is a viable application and what are the transaction costs present in the company.
The results of this study agree with others carried out under the same theme, supporting the viability of vertical integration and the sustainability of the pellet production industry.Adquirindo os efeitos benéficos ao meio ambiente substituindo combustíveis fósseis por pellets de madeira, este projeto visa, no contexto de um produtor de pellets, analisar os custos de transação de todo o processo de trabalho de todo o processo na empresa para a transformação de biomassa em pellets, desde a matérias-prima até ao seu processamento. Este estudo analisa a cadeia de valor da empresa, aplicando a Teoria dos Custos de Transação e tentando entender se existe uma aplicação viável e quais os custos de trnsação presentes na empresa. Os resultados deste estudo vão ao encontro de outros realizados dentro do mesmo tema, apoiando a viabilidade da integração vertical e a sustentabilidade da industria de produção de pellets.
Mestrado em Economia
47
Lee, Wan-Ling, and 李婉伶. "The Study of the Satisfaction and Loyalty for the Trade Show - Flow, Transaction Costs Theory and Relationship Marketing as Moderating Variables." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/93187876573314327076.
Full textAbstract:
碩士銘傳大學
企業管理學系碩士班
99
With well-developed tourism industry, tourism plays an important role in development, concept development were to watch the development of arrangements for the smooth and smooth is a great factor in possession. In this study, concept development, manufacturers and organizers of the relationship between three of the main, to immerse, relationship marketing as transaction costs and adjustment variables. This study used questionnaires, sample Travel Fair 2010, visit the exhibition concept who adopt the path analysis test results. Found: Travel motivation of satisfaction, satisfaction has a positive impact on loyalty; concept development by the feelings of pleasure, concept development by the positive effect on satisfaction, perceived control; concept development by manufacturers to reduce the monetary expenditure on the loyalty generated positive to impact.
48
"Antecedents and consequences of logistics outsourcing: an empirical investigation in China." 2012. http://library.cuhk.edu.hk/record=b5549411.
Full textAbstract:
在實踐中，越來越多製造企業採用外包物流给专业的第三方物流供应商的方式來降低物流成本。然而，在學術研究領域，大部分現有的物流外包研究主要以描述性和規範性的研究為主，缺乏解釋性或預測性的研究。本文嘗試整合交易成本經濟學、基於資源觀和制度理論，來驗證和解釋物流外包的驅動因素及績效影響。本研究從大陸及香港的200家上市母公司中收取了250家的子公司作為研究樣本，並採用了結構方程模型、層次回歸、路徑分析的統計方法來檢驗相關的理論假設， 研究的結果表明：在研究一中，本研究結果發現內部生產資源和能力，例如物流基礎設施、物流資訊系統、內部物流技術，沒有直接影響物流外包。但是，介面性質的資源或能力，例如管理第三方物流供應商的能力和其他職能系統的使用，與物流外包的水準呈正相關。最後，研究還表明內部生產資源和能力通過介面性質的能力，例如管理第三方物流供應商的能力，影響著外包。
在研究二中，本研究發現，基於頻率和特質的模仿壓力正向地影響物流外包，基於結果的模仿壓力對物流外包沒有顯著的影響。當製造商對他們內部物流需求不確定，基於頻率的模仿壓力對物流外包的影響將會降低。同時，過高的外部市場不確定性將增加基於結果的模仿壓力對外包物流採用的影響。
在研究三，本研究將物流活動分類為基於資產的物流活動和基於非資產的物流活動，然後建立物流外包-運營績效-財務績效的實證模型。實證結果表明基於資產的物流活動外包顯著影響著交付績效和財務績效，但是不影響成本和柔性績效。然而，基於非資產物流活動外包直接顯著影響著成本和柔性績效，但不影響交付績效和財務績效。總而言之，基於資產的物流活動外包直接影響財務績效，但有限影響著運營績效，而基於非資產的物流活動外包通過運營績效來影響財務績效。
本文對物流外包和運營管理領域有如下貢獻。首先，本文提出及驗證了資源-能力-外包的理論模型，拓展了傳統資源觀的應用。其次，本研究通過驗證宏觀制度壓力對內部物流運作的影響將制度理論擴展到物流和運營管理領域。最後，本研究通過對基於資產及非資產物流業務外包影響的研究，對運營及財務績效的提升提供了新的啟示。
An increasing number of manufacturers outsource their inbound and outbound logistics activities to Third-Party-Logistics (3PL) providers to reduce logistics cost. Most previous studies on logistics outsourcing are descriptive and prescriptive in nature, and thus devoid of explanatory or predictive orientation. This dissertation will investigate and explore the antecedents and consequents of logistics outsourcing by integrating transaction cost economics, resource-based view, and institutional theory. Several key hypotheses are tested using structural equation modeling (SEM), hierarchical multiple regression (HMR) and path analysis (PA) based on data collected from 250 subsidiaries of 200 publicly listed manufacturing companies in Mainland China and HK.
In study 1, the results show that internal production resources and capabilities, such as, logistics infrastructure, logistics information systems, internal logistics skill, do not exert a direct influence on logistics outsourcing. Interface resources or capabilities, however, such as 3PL management capabilities and the usage of other functional systems, are positively associated with the degree of logistics outsourcing. At last, the findings also indicate that internal production resources and capabilities influence outsourcing through interface capability, such as 3PL management capability.
In Study 2, this research reveals that frequency-based and trait-based imitative pressures are related with degree of logistics outsourcing, while outcome-based imitative pressures are not. The influence of frequency-based imitative pressure on logistics outsourcing will be decreased when manufacturers are more uncertain about their internal logistics requirements and demand. On the other hand, high external market uncertainty will increase the effect of outcome-based imitative pressure on logistics outsourcing.
In Study 3, the research classifies logistics activities into asset-based logistics activities and non-asset logistics activities and then builds outsourcing-operational performance-financial performance model. Empirical results show that asset-based logistics outsourcing significantly impacts both delivery performance and financial performance, but not cost and flexibility performance. However, non-asset-based logistics outsourcing significantly influences both cost performance and flexibility performance directly, but not delivery and financial performance. In summary, asset-based logistics outsourcing effects financial performance directly, but slightly influences operational performance, while non-asset-based logistics outsourcing influences financial performance mainly through operational performance.
This dissertation makes several contributions to logistics outsourcing & operations management. First, this dissertation proposes and empirically tests a model of resource-capability-outsourcing and thus extends the traditional resource-based view model. Second, this dissertation extends institutional theory into logistics and operations management area by linking macro-institutional pressures to internal logistics operations. Third, this study provides insights on the effects of logistics outsourcing on operational and financial performance by examining the effects of asset-based and non-asset based logistics outsourcing.
Detailed summary in vernacular field only.
Detailed summary in vernacular field only.
Detailed summary in vernacular field only.
Detailed summary in vernacular field only.
Detailed summary in vernacular field only.
Zhuang, Bochao.
Thesis (Ph.D.)--Chinese University of Hong Kong, 2012.
Includes bibliographical references (leaves 117-137).
Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web.
Abstract also in Chinese; appendix 5 in Chinese.
ABSTRACT --- p.I
ABSTRACT (CHINESE) --- p.III
ACKNOWLEDGEMENTS --- p.V
LIST OF FIGURES --- p.IX
LIST OF TABLES --- p.X
LIST OF APPENDICES --- p.XI
Chapter Chapter 1 --- Introduction --- p.1
Chapter 1.1 --- Research Motivation --- p.1
Chapter 1.2 --- Research Objectives --- p.2
Chapter 1.3 --- Research Methods and Framework of this Dissertation --- p.3
Chapter Chapter 2 --- Theoretical Background --- p.5
Chapter 2.1 --- Transaction Cost Economics and Outsourcing --- p.5
Chapter 2.2 --- Resource-based View and Outsourcing --- p.9
Chapter 2.2.1 --- RBV and New Streams in RBV --- p.9
Chapter 2.2.2 --- Resources& Capabilities Classification & Empirical Model in RBV --- p.11
Chapter 2.2.3 --- Conceptual Work Linking RBV with Outsourcing --- p.13
Chapter 2.3 --- Institutional Theory and Outsourcing --- p.14
Chapter 2.4 --- Multi-Theoretical Frameworks from TCE, RBV and IT --- p.16
Chapter Chapter 3 --- The Effects of Organizational Resources and Capabilities on Logistics Outsourcing --- p.21
Chapter 3.1 --- Introduction --- p.21
Chapter 3.2 --- Theoretical Background and Hypotheses --- p.22
Chapter 3.2.1 --- Infrastructure and Outsourcing --- p.22
Chapter 3.2.2 --- Capabilities and Outsourcing --- p.24
Chapter 3.2.3 --- Infrastructure-Capabilities-Outsourcing --- p.25
Chapter 3.3 --- Research Methodology --- p.28
Chapter 3.3.1 --- Questionnaire Design and Measures --- p.28
Chapter 3.3.2 --- Sampling and Data Collection --- p.30
Chapter 3.3.2 --- Measurement Quality --- p.33
Chapter 3.4 --- Hypotheses Tests and Results --- p.35
Chapter 3.5 --- Discussion --- p.37
Chapter 3.6 --- Conclusion and Limitations --- p.42
Chapter Chapter 4 --- The Effects of Imitation and Uncertainty on Logistics Outsourcing --- p.44
Chapter 4.1 --- Introduction --- p.44
Chapter 4.2 --- Theoretical Background and Hypotheses --- p.44
Chapter 4.2.1 --- Imitative Pressures and Outsourcing --- p.45
Chapter 4.2.2 --- Uncertainty, Imitative Pressure and Outsourcing --- p.50
Chapter 4.3 --- Research Methodology --- p.54
Chapter 4.3.1 --- Questionnaire Design and Measures --- p.54
Chapter 4.3.2 --- Sampling and Data Collection --- p.56
Chapter 4.3.3 --- Measurement Quality --- p.56
Chapter 4.4 --- Hypotheses Tests and Results --- p.59
Chapter 4.5 --- Discussion --- p.61
Chapter 4.6 --- Conclusion and Limitations --- p.69
Chapter Chapter 5 --- The Effect of Logistics Outsourcing on Operational and Financial Performance --- p.71
Chapter 5.1 --- Introduction --- p.71
Chapter 5.2 --- Theoretical Background and Hypotheses --- p.72
Chapter 5.2.1 --- Literature Review on Outsourcing-Performance --- p.72
Chapter 5.2.2 --- Outsourcing Types and Operational Performance --- p.74
Chapter 5.3 --- Research Methodology --- p.79
Chapter 5.3.1 --- Questionnaire Design and Measures --- p.79
Chapter 5.3.2 --- Sampling and Data Collection --- p.81
Chapter 5.3.3 --- Measurement Quality --- p.81
Chapter 5.4 --- Hypotheses Tests and Results --- p.84
Chapter 5.5 --- Discussion --- p.85
Chapter 5.6 --- Conclusion and Limitations --- p.91
Chapter Chapter 6 --- Overall Conclusions and Future Research --- p.93
APPENDICES --- p.96
References --- p.117
49
Cheng-Shih, Lin, and 林正士. "A Study on Decision Antecedents of Inter-organizational Management Mechanisms From Agency Theory and Transaction Costs Perspective : Example of Advertisers and Advertising Agents Relationships." Thesis, 1998. http://ndltd.ncl.edu.tw/handle/59821522057415114539.
Full textAbstract:
碩士國立雲林科技大學
企業管理研究所
86
This research discusses the antecedents of inter-organizational management mec hanisms fromAgency Theory and Transaction Costs perspective , and takes the re lationships betweenadvertisers and advertising agents for example. In order to construct the conceptualframework including the decision factors and management mechanisms. This research reviewed the basic elements of management mechanisms, Agency Theory, and Transaction Costs Theory. Besides, this research interviewed several CEOs who are responsible for advertising affairs to modify the conceptual framework. The research was experimented by survey , and the finding presents below :First, there are three types of advertising management mechanisms : Behavior management mechanism, output management mechanism, and clan management mechanism. It proved the types of inter-organizational management mechanisms are corresponding to intra-organizational control types.The research analyzed the antecedents of adverting management mechanisms by one-way ANOVA, finding there are five influential factors of advertising management. When advertisers recognizes the high level of the difficulty of measuring output, and agents opportunistic behavior, the advertisers will incline toward using behavior management mechanisms. However, when there are great goal conflict between them or they have great uncertainty in cooperative relationships, the advertisers will tend to operate output management mechanisms. Otherwise, advertisers will build mutual benefits or trust relationship with advertising agents ,when the agents are rare.
50
Nielsen, Erik. "The effect of CSR performance on firm value across global emerging markets." Master's thesis, 2019. http://hdl.handle.net/10362/73597.
Full textAbstract:
Drawing on institutional and transaction cost theory and the resource-based view of CSR, I posit that CSR performance across global emerging market companies is positively related to firm valuation. Using an unbalanced panel data approach for a sample with 3,800 firm-year observations representing 657 individual firms from 20 different countries that are classified as emerging markets according to the MSCI EM index during 2010-2016, I find that CSR performance, proxied by the average of the environmental and social pillar scores of the Thomson Reuters EIKON ESG rating database, positively relates to firm valuation, proxied by one-year ahead Tobin’s q (TOBQ). Specifically, a one-standard-deviation increase in normalised CSR performance is – on average – associated with a 0.042-point increase in TOBQ. Compared to the mean value of 1.661 for TOBQ across the sample, this increase constitutes an economically significant share of around 2.5% of that value. This value-enhancing effect of CSR is driven by companies in Asia, while it is absent for companies located in EMEA and more pronounced for companies of the Americas. Additional analyses further reveal that while overall Thomson Reuters corporate governance score performance is positively related to firm valuation, the way in which these scores are constructed seems to fail to reflect important differences in the governance environment of emerging market companies compared to their developed market counterparts. Moreover, the number of sell-side analysts covering the stock of these companies is (next to CSR) positively related to firm valuation but has a mitigating effect on the positive relation between CSR performance and firm valuation.