In this research, we investigate how knowledge in the export trading industry is created. Prior research focuses on general businesses in local market environment. This research specifically focuses on export trading with overseas market needs. These needs require attention to different types of control and requirements beyond that of a local market. In this paper, Nonaka et al.’s theory of org...

Previous studies have stressed that inflation dynamics exhibit substantial dispersion across sectors. Using US producer price data, we present evidence sectoral persistence is negatively correlated with market concentration, which difficult to reconcile the prediction of standard model monopolistic competition. To better explain incorporate imperfect common knowledge into competition introduced...

E xecutive compensation is a topic that has received attention both in the media and the academic literature. This article discusses issues relevant to the construction and interpretation of compensation …gures typically reported in both sources. First, it is not clear what precisely should be included within a measure of the chief executive o¢ cer’s (CEO’s) income tied to his …rm. Second, the ...

The efficient market hypothesis states that the market incorporates all available information to provide an accurate valuation of the asset at any given time. However, most models for forecasting the return or volatility of assets completely disregard the arrival of asset specific news (i.e., news which is directly relevant to the asset). In this paper we propose a simple adaptation to the GARC...

We use experiments to study the efficiency effects for a market as a whole of adding the possibility of forward contracting to a pre-existing spot market. We deal separately with the cases where spot market competition is in quantities and where it is in supply functions. In both cases we compare the effect of adding a contract market with the introduction of an additional competitor, changing ...

In this paper we present a model for the dynamic evolution of the term structure of default-free and defaultable interest rates. The model is set in the Libor market model framework but in contrast to the classical diffusion-driven setup, its dynamics are driven by a time-inhomogeneous Lévy process which allows us to better capture the real-world dynamics of credit spreads. We present necessary...

During the past two decades financial systems world-wide have developed rapidly in terms of size, industry structure, and the range of products and services produced. In Australia the size of the financial system, measured by total assets, has approximately doubled relative to nominal GDP in the past twenty years, while in a number of other countries the growth has been even more dramatic. More...

This article addresses the different levels of pricing strategies for an online knowledge market. Based on the best practice from Google Answers, an online knowledge market is modeled as a marketplace where consumers ask and researchers answer questions to make knowledge transactions. Consumers optimally price their questions to obtain answers, and a firm maintains the online knowledge market b...