The sharp increase in Ramp;D investment in recent decades has important but unexplored implications for corporate liquidity management. Because Ramp;D has high adjustment costs and is financed with volatile sources, it is very expensive for firms to adjust the flow of Ramp;D in response to...

This study assesses how customer value affects a firm's market orientation and consequently, competitive advantage and organizational performance in a service industry -- the global hotel industry. The findings show that if a firm perceives its customers as valuing service, the firm is more...