This study investigates the effects of human capital, social capital and their interaction on the performance of 1,398 Vietnamese new-born firms. Operating profit is used as the measure of success. Human capital is captured by individual-level professional education, start-up experience, and learning. Whereas the first two dimensions of human capital are measured with traditional indicators, we...

We propose and test a novel approach to the dilemma that the very networkbridging structure most likely to provide access to novel knowledge may be illsuited for the cooperation needed to successfully transfer that knowledge. We theorize that the relational dimension of social capital (e.g., tie strength) can act as a substitute for the structural benefits of network closure, and so a networkbr...

This article examines the practice of " tying, " which occurs when an underwriter lends to an issuer around the time of a public securities offering in order to secure underwriting business. We examine the following questions: (i) Does the issuing firm benefit from tying practices? (ii) If so, what is the source of these benefits? Why do underwriters tie lending to underwriting? (iii) How has t...

Motivated by recent antitrust cases in markets with zero-pricing, we develop a leverage theory of tying two-sided markets. In the presence nonnegative price constraint, Chicago school critique tie-ins fails to hold. independent products case, provides mechanism circumvent constraint tied market without inviting aggressive responses rival firm. complementary “price squeeze” cannot be used extrac...

When an inside lender has private information about a firm, there is an information asymmetry among lenders. The effect of this asymmetry on the relative rates for firms borrowing from an insider or outsider is not well established. In the Sharpe (1990) model, an inside lender with private information competes against an outside lender with public information. In a correction to the model, von ...

We model strategic competition in a market with asymmetric information as a noncooperative game in which each firm competes for the business of a buyer of unknown type by offering the buyer a catalog of products and prices. The timing in our model is Stackelberg: in the first stage, given the distribution of buyer types known to all firms and the deducible, type-dependent best responses of the ...

The paper investigates two interrelated problems. The first is the output choice of a firm in which decisions are made cooperatively by managers who might have conflicting objectives. The second is the managerial incentives scheme as a strategic choice of owners who wish to maximize profits. Using an example in which a duopolistic market is studied, the Faper shows that giving managerr incentiv...

the effect of magnetic field on the liquid-liquid equilibrium of two ternary systems (water + acetic acid + butyl acetate and water + acetic acid + dimethyl succinate) at 298.15 k under atmospheric pressure was investigated. the results obtained show that the strength of the magnetic field (0.02 t) affects the solubility of acetic acid in the used organic solvents. distribution coefficients and...