The passing of the Transport Act 1985 deregulated and privatised bus industry in Great Britain outside London, however failed to address prime specified aim reversing long run decline patronage. Review literature suggests one main reasons for this was due subsequent consolidation that resulted anti-competitive market structures outcomes, i.e. inefficient production fare levels monopoly profits....

We examine the asset pricing implications of a neoclassical model of repeated investment and disinvestment. Prior research has emphasized a negative relation between productivity and equity risk that results from operating leverage when capital adjustment is costly. In general, however, expansion and contraction options affect risk in the opposite direction: they lower equity risk as profitabil...

Does BPO pay off at the firm-level? Although there are several studies which analyze the potential benefits of BPO, there is a virtual absence of research papers on BPO outcomes. Based on an analysis of 137 Business process outsourcing (BPO) ventures at 254 German banks in a period between 1994 and 2005, we found that the outsourcer’s financial performance in terms of profitability and cost eff...