We consider a supply chain where a contract manufacturer (CM) serves a number of original equipment manufacturers (OEMs). Investment into productive resources is made before demand realization, hence the supply chain faces the risk of underor over-investment. The CM and the OEMs differ in their forecast accuracy and in their resource pooling capabilities, leading to a disparity in their ability...

We analyze the determinants of ownership structure in firms when conflicts of interest on risk arise endogenously via different ownership stakes and firm decisions are made through majority voting. A large block is chosen to incentivize monitoring. Because a large blockholder holds a large share of the firm, he is averse to risky investing. This generates a conflict of interest with dispersed s...

The authors explore the relation between ownership form and distribution system and test the determinants of each element of organizational structure. Controlling for ownership form as an exogenous variable, the authors find that independent agency insurers are likely to be associated with stock ownership, are characterized by higher liabilities relative to surplus, and are more likely to speci...

A number of studies have suggested the benefits of pet ownership to human health, including cardiovascular disease (CVD). However, there are few findings regarding pet ownership and coronary artery disease (CAD). The objective of this study is to investigate the association between pet ownership and CAD in a Chinese population. From October 2015 to May 2016, a survey consisting of 561 consecuti...

The aim of this study was to investigate the relationship between dog and cat ownership and gastroenteritis in young children. A diary study of 965 children aged 4-6 years living in rural or semi-rural South Australia was undertaken. Data were collected on pet ownership, drinking water and other risk factors for gastroenteritis. Overall 89% of households had pets and dog ownership was more comm...

This paper characterizes the optimal dynamic contract between risk-averse entrepreneurs and risk-neutral investors in an infinite horizon setting with information asymmetry. Under certain conditions, the optimal contract can be implemented with the entrepreneur’s ownership of some of the firm’s shares (insider ownership). This ownership evolves over time and tends to decrease as the entrepreneu...