The authors respond to the thoughtful concerns raised by Dickson (1996) about the issue of path dependencies and the dynamics of resource-advantage (R-A) theory (Hunt and Morgan 1995). Rather than R-A theory and Dickson's work being inconsistent, the authors point out that Hunt and Morgan (1995) cite Dickson's (1992) work on two different occasions as support for the dynamics of R-A theory. Fur...

Abstract: The implementation of government legislation, social responsibility, environmental concerns regarding the reduction of waste, hazardous material and other consumer residuals have made the competition between the firms stricter than ever and nowadays firms that want to survive need a more productive and innovative approach toward the financial aspects of their businesses.his pape...

This paper explores the booms and busts induced by news shocks in a model economy with financial market frictions. Firms can accumulate capital through either purchase of the existing capital or producing new capital by themselves. Firms need to borrow from financial intermediaries to finance their purchases of capital. With the presence of financial market frictions, firms have to pay an exter...

Attracted by the numerous benefits of E-commerce, many traditional brick-and-mortar firms have embraced the Internet to supplement their business operations and have adopted the “click-and-brick” approach. Despite these changes, insufficient empirical research has been conducted on the impact of different firm types on financial performance. Based on the resource-based view, this study presents...

An important determinant of health system performance is contracting. Providers often respond to financial incentives, despite the ethical underpinnings of medicine, and payers can craft contracts to influence performance. Yet contracting is highly imperfect in both single-payer and multi-payer health systems. Arguably, in a competitive, multi-payer environment, contractual innovation may occur...

We investigate the changes in the value relevance of accounting information among Chinese firms over the past two decades, during which accounting reforms are launched to provide decision makers with increased disclosure and higher quality financial information. We also investigate the factors that differentiate firms showing significant value relevance improvement from firms showing little imp...

this paper examines the effects of corporate governance (board structure and ownership structure) and some financial variables on financial statement restatements. for this purpose, citing firms have been divided into two groups: a group comprising firms (48 firms) that have maximum amount of the annual adjustment (more than 5% of ebit) and a group (control group; 46 firms) comprising firms tha...

We examine the relation between firms’ financial structures and their risky investment strategies in Taiwan’s banking industry. Regressions cover two subperiods: before the first financial reform (1996– 2000) and after the first financial reform (2001–2006), to address the impacts of the first financial reform on banking firms’ financial structures. Our first result demonstrates that the restri...