Factoring is a financial service enabling enterprises to sell their accounts receivable to a factoring company in exchange for cash. The market for factoring in the UK has been growing at substantial rates and most banking institutions are now actively involved in providing this service. Little...

Managerial myopia in identifying competitive threats is a well-recognized phenomenon (Levitt, 1960; Zajac and Bazerman, 1991). Identifying such threats is particularly problematic, since they may arise from substitutability on the supply side as well as on the demand side. Managers who focus only on...

This paper shows that particular attributes of foreign banks, viz. size of assets, number of branches, and links to the Asian network, have significant impacts on their decision to engage in business transactions in China's domestic currency, Renminbi. Access to these markets will expand upon...

Owners usually want their managers to maximize profits. As the literature on strategic delegation has shown it may be beneficial to owners to put a positive weight on sales in the optimal linear incentive scheme for managers to make them behave more aggressively in the market. This paper shows...

This paper studies acquisitions of nursing home facilities by chains. We first test alternative 'cream-skimming' and 'turn-around' arguments concerning nursing home acquisitions. We then consider post-acquisition changes in nursing home health performance, differentiating effects of the...

A firm chooses the production speed and amount of labor that maximizes profit in a perfectly competitive market. Faster production raises management expenses and the unit cost of production mistakes. Adding workers enhances the division of labor on the production line and raises work-in-process...

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