Natural gas power plants can further specify their procurement contracts with pipeline distributors using a firm contract option that guarantees delivery at an additional cost. Using transaction level data from 2008-2012 we empirically test what characteristics lead to use of firm contracts and how the premium for firm contracts changes with these characteristics. Using variation in power plant...

In this paper, a newly emerging duopoly market with a short life cycle is analyzed. The partially known information of market is characterized by the possibility distribution of the parameter in the demand function. Since the life cycle of the new product is short, how many products should be produced by two rival firms is a typical one-shot decision problem. Within the one-shot decision framew...

Four key ideas provide the foundation for pragmatic theory of firm, which is expecially useful managements and boards in developing an understanding how companies create long-term value benefit all stakeholders. First, a necessary point departure, clarity about purpose firm. Maximizing shareholder viewed not as social but consequence company's effectiveness carrying out that recognizes benefits...

This article investigates the determinants of dividend policy on Casablanca stock exchange. The variables tested were based main theories policy, and fixed effect model was used to test panel data over a period 16 years from 2003 2018. eight independent profitability, firm size, retained earnings, age, leverage, growth opportunities, price earnings (P/E) dummy variable introduced for financial ...

make or buy decision is one of the main areas of decision making for managers. transaction cost economics (tce), as an influential economic approach to the theory of the firm, tries to put forward a theoretical framework for this important decision. from tce perspective, the greater the asset specificity, the more the behavioral uncertainty and the more the transaction frequency, the more will ...

This essay examines market liquidity and underpricing of initial public offerings (IPOs) in the wake Chi- Next board's financial reform June 2020. The results show that IPO has grown improved since reform. channel by which affects can be explained investor sentiment. impact on also other firm-level characteristics, such as leverage firm life cycle.

This study concerns the integration of electronic commerce networks into the “sales” processes of small firms. Specifically, this study focuses on integration of an electronic commerce (EC) network in those business processes leading up to an actual sales order. We examined seventeen small firms at the end of their first year of participation in an inter-organizational electronic network that m...

This paper develops a pseudo-panel approach to examine household electricity demand behavior through the life cycle and its response income variations help strengthen energy policy-making process. Our empirical methodology is based on three rich independent microdata surveys (the National Housing Surveys), which are representative of French housing sector. The resulted sample covers 2006–2016 p...