This paper considers a firm that must issue common stock to raise cash to undertake a
valuable investment opportunity. Management is assumed to know more about the firm's
value than potential investors. Investors interpret the firm's actions rationally. An equilibrium …

Chapter 1 is short and preliminary. It consists of an introduction to the theory of individual
decision making considered in an abstract setting. It introduces the decision maker and her
choice problem, and it describes two related approaches to modeling her decisions. One …

THIS PAPER'S TITLE IS INTENDED to remind you of Fischer Black's well-known note on"
The Dividend Puzzle," which he closed by saying," What should the corporation do about
dividend policy? We don't know."[6, p. 8] I will start by asking," How do firms choose their …

Institutions are the humanly devised constraints that structure political, economic, and social
interaction. They consist of both informal constraints (sanctions, taboos, customs, traditions,
and codes of conduct), and formal rules (constitutions, laws, property rights). Throughout …

The principal purposes of this paper are to examine the factors which induce a shift of
transactions from market to internal organization and, within internal organization, to explain
the types of hierarchical relations that predictably emerge. It is generally acknowledged that …

Strategy has been defined as" the match an organization makes between its internal
resources and skills... and the opportunities and risks created by its external environment?"
During the 1980s, the principal developments in strategy analysis focussed upon the link …

Imagine each family as a kind of little factory--a multiperson unit producing meals, health,
skills, children, and self-esteem from market goods and the time, skills, and knowledge of its
members. This is only one of the remarkable concepts explored by Gary Becker in his …

This paper develops a theory of financial intermediation based on minimizing the cost of
monitoring information which is useful for resolving incentive problems between borrowers
and lenders. It presents a characterization of the costs of providing incentives for delegated …

Cooperation in organisms, whether bacteria or primates, has been a difficulty for
evolutionary theory since Darwin. On the assumption that interactions between pairs of
individuals occur on a probabilistic basis, a model is developed based on the concept of an …

This book brings together in one place the work of one of our most respected economic
theorists, on a field in which he has played a large part in originating: the New Institutional
Economics. Transaction cost economics, which studies the governance of contractual …

The authors integrate theory developed in several disciplines to determine five cognitive
processes through which industrial buyers can develop trust of a supplier firm and its
salesperson. These processes provide a theoretical framework used to identify antecedents …

Most empirical models of investment rely on the assumption that firms are able to respond to
prices set in centralized securities markets (through the" cost of capital" or" q"). An alternative
approach emphasizes the importance of cash flow as a determinant of investment spending …

This book reviews the theory and methodology underlying the economics-based empirical
literature in accounting. An accounting theory theory is an explanation for observed
accounting and auditing practices. Such an explanation is necessary for interpretation of …

An important part of our information-gathering behavior has always been to find out what
other people think. With the growing availability and popularity of opinion-rich resources
such as online review sites and personal blogs, new opportunities and challenges arise as …

Norms have never been absent from the study of international politics, but the sweeping
“ideational turn” in the 1980s and 1990s brought them back as a central theoretical concern
in the field. Much theorizing about norms has focused on how they create social structure …

NUMEROUS MARKETS ARE characterized by informational differences between buyers
and sellers. In financial markets, informational asymmetries are particularly pronounced.
Borrowers typically know their collateral, industriousness, and moral rectitude better than do …

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following review helpful. Too manyunnecessary wordsBy AnonimoThis book has great
variety of knowledge, but the unnecessary words are just too discouraging and time …

A separate and distinct interaction with both the actual e-vendor and with its IT Web site
interface is at the heart of online shopping. Previous research has established, accordingly,
that online purchase intentions are the product of both consumer assessments of the IT itself …

This article examines the developmental process of cooperative interorganizational
relationships (IORs) that entail transaction-specific investments in deals that cannot be fully
specified or controlled by the parties in advance of their execution. A process framework is …

This book suggests that the current impasse on a number of key issues in the political
economy of advanced nations is attributable in part to an outmoded perspective on the
nature, and therefore the promise, of economic growth. The critique has some important …