We provide current evidence to show that the numbers of sponsored depositary receipts created and cross-listed have increased by more than two-fold over the last decade and a substantial proportion of this growth came from the emerging and developing economies. We argue that the needs of this...

We construct a model whereby stock exchanges take a new role as an information intermediary, notably absent in their roles. We show that exchanges differentiate themselves at subgame perfect equilibrium and will not race to the top or to the bottom.

Antitrust legislation in the United States was originally enacted in 1890. This legislation and subsequent amendments established the historic precedent of government controlling the power of business by limiting its influence over markets. This paper reflects on why this unique set of laws was...

Purpose – The purpose of this paper is to respond to the criticism O'Shaughnessy and O'Shaughnessy made of service‐dominant logic in EJM , on behalf of both the paper and the worldwide community of scholars that have embraced S‐D logic as historically informed, integrative, transcending...

Purpose – This paper proposes a rejoinder to the O'Shaughnessy and O'Shaughnessy rejoinder to “Service dominant logic: a necessary step”, the commentary on their previous criticism of service‐dominant logic. Design/methodology/approach – This paper is a critical analysis of...

A trend has been developing in the United States towards the use of vertical marketing systems. Of the many types of vertical marketing systems, franchising has become one of the most dominant. This is evidenced, in part, by the nearly one‐third of retail sales in 1973 that were through...