We analyse the leasing decision of more than 3000 UK quoted and unquoted companies over the sample period 1982-1996. We show that, for the sample as a whole, companies that use leasing are more likely to have tax losses, high fixed capital investment, high debt-to-equity ratio and to be larger than companies that do not use leasing. We show, however, that the determinants of leasing are not hom...

This paper examines whether short sellers exploit information in economically linked firms to undertake profitable trades. Using newly available information on firm-level customer-suppliercompetitor relationships and Reg SHO daily short sales data, we find that the short selling of supplier stock increases with negative post-news customer returns, and that the relation becomes more pronounced i...

T study attempts to answer a basic customer management dilemma facing firms: when should the firm use behavior-based pricing (BBP) to discriminate between its own and competitors’ customers in a competitive market? If BBP is profitable, when should the firm offer a lower price to its own customers rather than to the competitor’s customers? This analysis considers two features of customer behavi...

Digital convergence of telecommunication and entertainment media services drove former network monopolists into a prisoner's dilemma forcing them to enter each others markets. In this reciprocal duopoly firms now offer their services in a bundle, commonly known as Triple Play. I investigate whether bundling is indeed a profitable pricing strategy for these services and if it can facilitate mark...

This study attempts to answer a basic customer management dilemma facing firms: When should the firm use behavior-based pricing (BBP) to discriminate between its own and competitors’ customers in a competitive market? If BBP is profitable, when should the firm offer a lower price to its own customers rather than to the competitor's customers? This analysis considers two features of customer beh...

Digital convergence of telecommunication and entertainment media services drove former network monopolists into a prisoner’s dilemma forcing them to enter each others markets. In this reciprocal duopoly firms now offer their services in a bundle commonly known as Triple Play. I investigate whether bundling is indeed a profitable pricing strategy for these services and if it can facilitate marke...

Competing theories in industrial organization predict that more concentrated industries will lead to a smaller and more efficient variety of products, or alternately, a larger and less efficient array of products. This paper presents an empirical study of these competing implications that estimates the impact of market concentration on new product introductions in a panel of nine food processin...

Companies spend enormous resources on customer relationship management (CRM), but there is no clear understanding on two seemingly simple, but critical questions: (1) Should firms reward or punish their current customers? (2) Can CRM be profitable in a competitive setting? While CRM practitioners are enthusiastic about its win-win potential for firms and customers, the extant theoretical litera...

Remanufacturing represents a higher form of reuse by focusing on value-added recovery, rather than materials recovery Ž . i.e., recycling . Remanufacturing systems are widespread in the United States and are profitable. However, the management of production planning and control activities can differ greatly from management activities in traditional manufacturing. We report on managerial remanuf...

Managers can decide to reduce a warrant’s exercise price. A reduction in exercise price can induce exercise (a conversion-forcing reduction) or not (a long-term reduction). Conversionforcing firms show an abnormal return of -1.53% on the announcement day but they perform well over the three years following the announcement. This finding suggests that the funds raised from warrant exercise are i...