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In this paper we develop a theory of patenting in which a firm preserves its reputation to only apply for a patent … reputation to be preserved in equilibrium and analyze which market environments are favorable for such an equilibrium to exist …
Persistent link: https://www.econbiz.de/10009773847
has established a reputation for delivering high quality vis-à-vis the supplier. The supplier may enter the market by … initially renting the downstream rm s reputation. The downstream rm may optimally source its input externally, even though … reputation, it may su¤er from a reputational barrier to entry arising from higher input costs. …
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Is the reputation of a firm tradable when the change in ownership is observable? We consider a competitive market in …-value customers. Hence reputation is a tradable intangible asset, although ownership change is observable. …
Persistent link: https://www.econbiz.de/10010365880
Consider a two-product firm that decides on the quality of each product. Product quality is unknown to consumers. If the firm sells both products under the same brand name, consumers adjust their beliefs about quality subject to the performance of both products. We show that if the probability...
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Is the reputation of a firm tradeable when the previous owner has to retire even though ownership change is observable … good type. Hence reputation is tradeable, although ownership change is observable. In our model, reputation is an …
Persistent link: https://www.econbiz.de/10011449475
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A simple counterexample shows the the widely used WACC approach to value leverage firms developed by Miles and Ezzell can create an arbitrage opportunity. The only consequence to be drawn is that their WACC approach cannot be applied under the circumstances assumed by Miles and Ezzell.
Persistent link: https://www.econbiz.de/10011526007
We extend the WACC approach to a tax system having a firm income tax and a personal income tax of the investor as well. We use an artificial tax system incorporating most of the G-7 national tax codes as for example the classical or the imputation systems.
Persistent link: https://www.econbiz.de/10011526011