We study how interactions between financing and investment decisions can shape firm boundaries in innovative markets. In particular, we model innovative projects as growth options and ask whether they are best operated inside large incumbent firms (Integration) or in separate, specialized firms (Non-Integration). Starting from a standard theoretical framework, in which value-maximizing corporat...

In this paper we explore the ways in which institutions and networks influence entrepreneurial development in Russia. By utilizing new Global Entrepreneurship Monitor (GEM) data collected in 2001, we investigate the effects of the weak institutional environment in Russia in terms of three dimensions: on the rate of productive entrepreneurial activity measured in terms of start-ups and existing ...

Reverse factoring—a financial arrangement where a corporation facilitates early payment of its trade credit obligations to suppliers—is increasingly popular in industry. Many firms use the scheme to induce their suppliers to grant them more lenient payment terms. By means of a periodic review base stock model that includes alternative sources of financing, we explore the following question: wha...

Treatment for substance abuse and human immunodeficiency virus (HIV) infection historically have come from different providers, often in separate locations, and have been reimbursed through separate funding streams. We describe policy and financing challenges faced by health care providers seeking to integrate buprenorphine, a new treatment for opioid dependence, into HIV primary care. Regulato...

This paper employs a distribution-free statistical test suitable for comparisons based on dependent samples to analyse changes in health care financing distributions on Finnish data. In distinction to the more general summary index approach used in most studies of progressivity measurement, the difference between the Lorenz curve of income inequality and the concentration curves of various taxe...

Objective To study population-level determinants of caesarean section trends in developed countries. Data sources/study setting National-level data (1980-2004) from developed countries on trends and potential determinants of caesarean section utilization. Study design The effect of maternal mortality, national income, hospital infrastructure and the health system financing and human resources p...

Although prepayment schemes are being hailed internationally as part of a solution to health care financing problems in low-income countries, literature has raised problems with such schemes. This paper reports the findings of a study that examined the factors influencing low enrollment in Tanzania's health prepayment schemes (Community Health Fund). The paper argues that district managers had ...

This study investigates differences in the policies being pursued by innovative and non-innovative firms. It focuses on a broad group of strategies--in marketing, finance, production, management and human resources and asks whether there are key areas in which the strategies being followed by innovative and non-innovative firms differ. It also ask how the activities of firms in each of these ar...

We consider the financing of a research project under uncertainty about the time of completion and the probability of eventual success. We distinguish between two financing modes, namely relationship financing, where the allocation decision of the entrepreneur is observable, and arm's-length financing, where it is unobservable. We find that equilibrium funding stops altogether too early relativ...