This paper presents a new approach to the theory of the firm by identifying factor complementarities as central to the determination of the firm's boundaries. The factor complementarities may take a variety of forms: technological and informational complementarities, as well as economies of...

This paper addresses aspects of logistics quality management system documentation development and suggests models for quality management system documentation development, documentation hierarchical systems and authorization approval. It also identifies logistic processes and a responsibilities...

Does anti-migration sentiment threaten internationalization? One major pro-Brexit argument was that it would enable more control over immigration. The most recent US presidential election also focused on immigration. Anti-migration sentiment could be a threat to internationalization, given that...

This paper shows that a new trade-off arises in the optimal contract when contracting takes place with vague information (objective ambiguity), reflecting that real-world contracting often takes place under imprecise information. The choice-theoretic framework captures a decision-maker`s...

Concave hiring rules imply that firms respond more to bad shocks than to good shocks. They provide a unified explanation for several seemingly unrelated facts about employment growth in macro and micro data. In particular, they generate countercyclical movement in both aggregate conditional...

How migration relates to internationalization has been a prominent question in international economics for a long time and its relevance for policy has increased with the amplified political focus on migration. But the role of migration for internationalization is not as obvious as the standard...

The granting of stock options to employees who have negligible impact on company performance intuitively violates Holmstrom's (1979) sufficient statistic result. This paper revisits the sufficient statistic question of when to condition a contract on an outside signal in a principal-agent model...

We report experimental evidence on the effect of observability of actions on bank runs. We model depositors' decision-making in a sequential framework, with three depositors located at the nodes of a network. Depositors observe the other depositors' actions only if connected by the network....

This paper demonstrates that green-labeling forms an integral part of financial investment vehicles. We use data from the EU green bond market to show that green labels reduce the required yields on bonds (the "greenium") in the long run, with the effect being more pronounced when labels are...

Jedes Jahr findet hierzulande rechnerisch ungefähr auf jedem dritten Arbeitsplatz ein Personalwechsel statt. Der Fluktuationskoeffizient, der die Fluktuation auf dem Arbeitsmarkt beschreibt, ist im Zuge der Covid-19-Krise von 33,1 Prozent im Jahr 2019 auf 29,8 Prozent im Jahr 2020 merklich...