Risk, uncertainty, ignorance and myopia: Their managerial implications for B2B firms
نویسندگان
چکیده
منابع مشابه
Do Managerial Ties in China Always Produce Value? Competition, Uncertainty, and Domestic vs. Foreign Firms
While most advocate that foreign firms should utilize managerial ties to conduct business in China, recent literature cautions that such ties may offer only conditional value. This study examines three sources of heterogeneity that may condition the value of ties: firm ownership (foreign vs. domestic), competition, and structural uncertainty. Results from a survey of 280 firms in China indicate...
متن کاملManagerial Firms , Vertical Integration , and Consumer Welfare ∗
We show that vertical integration decisions of managers may affect adversely consumers even in the absence of monopoly power in either supply or product markets. This effect is most likely to come about when demand is initially high and there is a negative supply shock or when demand is low and there is a positive demand shock. The results are robust to the introduction of active shareholders a...
متن کاملOpenness, Managerial Incentives and Heterogeneous Firms
This paper examines the effects of trade openness on the optimal incentives firms provide to their managers (and hence firm-level productivity) in the new heterogeneous-firm trade framework. Export market selection and firm heterogeneity are shown to be the key determinants of firm owners’ optimal choices of the incentive contracts, which affect the cost-reduction efforts of their managers. I s...
متن کاملUncertainty , Investment , and Managerial Incentives ∗
This study provides evidence that managerial incentives, shaped by compensation contracts, help to explain the empirical relationship between uncertainty and investment. We develop a model in which the manager, induced by an incentive contract, makes investment decisions for a firm that faces time-varying volatility. In the model, a manager’s privately optimal investment response to a volatilit...
متن کاملIgnorance, Uncertainty, and Strategic Consumption-Portfolio Decisions
This paper constructs a recursive utility version of a canonical Merton (1971) model with uninsurable labor income and unknown income growth to study how the interaction between two types of uncertainty due to ignorance affects strategic consumption-portfolio rules and precautionary savings. Specifically, after solving the model explicitly, we theoretically and quantitatively explore (i) how th...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Industrial Marketing Management
سال: 2020
ISSN: 0019-8501
DOI: 10.1016/j.indmarman.2020.05.018