Related party transactions (RPTs) are transactions made among affiliated companies in a conglomerate group. Heavy RPT ratio means high level of dependence of a firm on the captive market within a conglomerate group. This may depress the firm’s incentive to invest in R&D and the high level of R&D expenditure of a firm with heavy RPT ratio may not be efficiently led to high level of firm performa...

U novel transaction-level data on Chinese business groups, this study provides the first direct evidence of the coinsurance theory of business groups by investigating when different types of internal resources are transferred within a business group. We find that in Chinese business groups, a credit crunch experienced by the controlling shareholding firm (the “controller”) of a publicly listed ...

The concept of atomic transactions has played a cornerstone role in creating today's enterprise application environments by providing guaranteed consistent outcomes in complex multi-party business operations. While numerous multi-party business applications involve various patterns based on atomic transactions, it was not until recently the term "business transactions" accumulated any concrete ...

Economic exchange between strangers happens extremely frequently due to the growing number of internet transactions. In trust situations like online transactions, a trustor usually does not know whether she encounters a trustworthy trustee. However, the trustor might form beliefs about the trustee's trustworthiness by relying on third-party information. Different kinds of third-party informatio...

Bitcoin is a crypto currency with several advantages over previous approaches. Transactions are con®rmed and stored by a peer-to-peer network in a blockchain. Therefore, all transactions are public and soon solutions where designed to increase privacy in Bitcoin Many come with downsides, like requiring a trusted third-party or requiring modi®cations to Bitcoin. In this paper, we compare these a...

We present a protocol for unlinkable serial transactions suitable for a variety of network-based subscription services. The protocol prevents the service from tracking the behavior of its customers while protecting the service vendor from abuse due to simultaneous or \cloned" usage from a single subscription. We present variants of the protocol supporting pay-per-use transactions within a subsc...

The recent surge in popularity of e-commerce prompted a lot of activity in the area of electronic payments. Solutions have been developed for cash, credit card and check-based electronic transactions. Much less attention has been paid to non-monetary commerce such as barter. In this paper we discuss the notion of \secure group barter" or multi-party fair exchange. We develop a classiication of ...

The topic of this paper is the consent a third party to conclusion contract. current lack interest legal science in institution third-party contract consequence its scattered normative regulation. Considering required often, numerous and diverse cases, it sporadically regulated parts regulations governing these contracts. Given large number cases where required, individual contracts for which r...