This paper makes use of a vertical integration model to explain virtual enterprises, analyses respective characteristics of virtual operation and internal integration, probes into the correlative factors of virtual operation. The paper points out that virtual operation and internal integration are two parallel ways which enterprises may choose to expand their organization. Virtual operation urg...

This paper studies the effect of credit market competition, measured by the bargaining power of banks, on the agency costs of debt finance. The threshold of obtaining loan finance is shown to be independent of the relative bargaining power of the financier, while intensified credit market competition leads to lower lending rates and investment return distributions with lower, but less risky ret...

Abstract Market power of intermediaries contributes to the low incomes farmers in India. I study role spatial competition between determining prices that receive India by focusing on a law restricts selling their goods own state. show discontinuities market generated translate into prices. Increasing one standard deviation causes received increase 6.4%. propose and estimate quantitative model b...

It iswell known that competition candestroy incentives to invest in firmspecific relationships. This paper examines how the tension between relationships and competition is resolved in the investment banking market, which for decades has been characterized by both relationships and competition. The model studies the impact on relationships of four different dimensions of competition: non-exclus...

It is well known that competition can destroy incentives to invest in firm-specific relationships. This paper examines how the tension between relationships and competition is resolved in the investment banking market, which for decades has been characterized by both relationships and competition. The model studies the impact on relationships of four different dimensions of competition: non-exc...

Competition and antitrust law aims to prevent companies from engaging in anti-competitive behavior and to promote and protect market competition. In this context, mergers and acquisitions are under particular scrutiny, since they are often assumed to be motivated by possible market power increases, thus adversely affecting market efficiency. With a view to recent efforts within the European Uni...