I develop a model of firm-to-firm search and matching to show that the impact falling trade costs on firm sourcing decisions consumer welfare depends relative size externalities in domestic international markets. These can be positive if firms share information about potential matches, or negative market is congested. Using unique transaction-level data from Uganda, document empirical evidence ...

Performance appraisal is a process which help shareholders make informed and optimal investment decisions. In recent decades, a long stream of research has devoted particular attention to the importance and impact of financial decisions on firm performance and firm value. The present study thus is primarily concerned with investigating the association between free cash flow and institutional ow...

Abstract This paper studies the implications of imperfect competition in firm-to-firm trade. Exploiting data on universe sales relationships between Belgian firms, we document that firms’ markups increase average input shares among their buyers. Motivated by this fact, develop and estimate a model where firms charge buyer–supplier-specific depend bilateral shares. We find markup dispersion with...

Under study is the problem of locating facilities when two competing companies successively open their facilities. Each client chooses an open facility according to his own preferences and return interests to the leader firm or to the follower firm. The problem is to locate the leader firm so as to realize the maximum profit (gain) subject to the responses of the follower company and the availa...

This article focuses on integrating various perspectives on product architecture modularity into a general framework and proposes a way to measure the degree of modularization embedded in product architectures. The article addresses trade-offs between modular and integral product architectures and how components and interfaces influence the degree of modularization. The article identifies the f...

Undergraduate life science majors are reputed to have negative emotions toward mathematics, yet little empirical evidence supports this. We sought to compare emotions of majors in the life sciences versus other natural sciences and math. We adapted the Attitudes toward the Subject of Chemistry Inventory to create an Attitudes toward the Subject of Mathematics Inventory (ASMI). We collected data...

This paper develops a corporate bond valuation model that incorporates a default barrier with dynamics depending on stochastic interest rates and variance of the corporate bond function. The volatility of the firm value affects the level of the barrier over time through the variance of the corporate bond function and its contribution to the barrier's dynamics is adjusted by a free parameter. We...