increasing overall liberalization and improving reliability indexes are the two prime but often conflicting objectives of electricity markets. proper embedding of regulatory intervention of price caps provides an effective means to tradeoff between these two objectives. surprisingly, in the context of the infinitely repeated game paradigm, as in the case of actual electricity markets, the domin...

The concept of a supply function equilibrium (SFE) has been widely used to model generators’ bidding behavior and market power issues in wholesale electricity markets. Observers of electricity markets have noted how generation capacity constraints may contribute to market power of generation firms. If a generation firm’s rivals are capacity constrained then the firm may be pivotal; that is, the...

According to the matter of knowledge-based businesses development in economic development and job creation of the state, it is so important to identify effective strategies and factors in developing entrepreneurship, supporting commercializing and branding of knowledge-based businesses and the environment in which these businesses fare formed. The purpose of the present research is offering an ...

todays, the only thing that can be trusted all over the world is lack of confidence. all organizations need to innovate to comply with the wavy environment and the innovation by itself has a vital role in moving toward the comparative advantage and supreme performance. although many researches have already investigated the effect of innovation on the performance, it seems that, in future, lack ...

Although firms are recognizing the business benefits of Web 2.0 technologies, there is little research examining their use in the organizational context. Drawing on the Innovation Diffusion theory and Technological-Organizational-Environmental framework, we present and empirically test a theoretical model of factors associated with adoption of Web 2.0 technologies in business. We find that the ...

Firms in emerging economies exhibit dangerously low compliance with government regulations aimed at protecting society from the negative externalities of their operations. Weak government enforcement contributes to this lack of compliance, but we argue that the limited legitimacy of government and its regulations also plays a critical role, especially among firms without insider access to key p...

Many commentators have identified the pivotal role of intellectual capital in the valuation of firms and the determination of their future earnings. Innovation in voluntary disclosure of intellectual capital lead by European firms, such as Celemi and Skandia, has generated a plethora of new reporting frameworks such as the Balanced Scorecard. However, there has been little support by the accoun...

Financial institutions play a pivotal role in the efficient allocation of capital resources. However, some households and firms may be excluded from formal financial markets due to asymmetric infor...

Much of the time, firms lobby against environmental protection, but there are major exceptions to this rule. DuPont, the leading ozone polluter in the 1980s, lobbied for a complete ban of its product. In 2015, in the run up to the Paris Agreement, Europe's six largest oil and gas companies lobbied for a global carbon price. This kind of political support is often pivotal for governments trying ...

Human Capital and the Size Distribution of Firms Countries that have relatively fewer workers with a secondary education have smaller firms. The shortage of skilled workers limits the growth of more productive firms. Two factors influence the availability of skilled workers: i) the education level of the workforce and ii) large public sectors that predominantly hire individuals with a better ed...