This paper investigates the implications of interorganizational-trust for the performance of exchange relationships and considers the role of varying antecedents of trust on this performance. It develops a theory of the relationship between exchange performance and two distinct sources of interorganizational-trust—trust arising out of past interactions or the institutional environment that exis...

A test of adverse events and strategic timing theories can be conducted by determining whether some relevant financial decision variables, such as financial benefit from filing for bankruptcy, or debt discharged in bankruptcy are endogenous with the bankruptcy decision or not. For the strategic timing theory such decisions are endogenous, while for the adverse events theory they are not. Hausma...

Corporate governance theory predicts that leverage affects agency costs and thereby influences firm performance. We propose a new approach to test this theory using profit efficiency, or how close a firm’s profits are to the benchmark of a best-practice firm facing the same exogenous conditions. We are also the first to employ a simultaneous-equations model that accounts for reverse causality f...

Abstract Business ethics can be regarded as a field dealing with corporate self-regulation it relates to the treatment of stakeholders. However, concern for stakeholders need not take corporate-centric perspective, shown by recent efforts (especially Singer in Bus Ethics Q 25(1):65–92, 2015) situate conduct within Rawls’ political theory. Although Rawls was largely mute on subject himself, his ...

Background & Aim: The world production and consumption of essential oils and perfumes are increasing very fast. Lippia citriodora H.B.K. is an herbal species mainly used as a spice and medicinal plant. Endogenous levels as well exogenous application of plant growth regulators (PGR) could affect essential oil production and chemical compositions. Experimental: To study the effect of ex...

We develop a formal theory of legitimate collective choice. In our theory a policy choice is legitimate if the process through which the final choice was determined is consistent with some principle that can be used to (perhaps partially) rank the potential policy choices. The set of principles in any choice situation is taken to be exogenous, but a decision-making process is defined so as to d...

The historic terrain of macro-economic theory is the explanation of the levels and fluctuations of overall economic activity. Macro-economists have been especially interested in the effects of alternative fiscal, financial, and monetary policies. With the publication of J. M. Keynes’s General Theory in 1936 and the mathematical formalizations of his theory by J. R. Hicks (1937) and others, the ...