We propose a correlated stochastic process of which the novel non-Gaussian probability mass function is constructed by exactly solving moment generating function. The calculation of cumulants and auto-correlation shows that the process is convergent and scale invariant in the large but finite...

In order to evaluate the alternative technologies for producing hydrogen in Korea stage by stage, we searched for impact factors, calculated the weights of them and evaluated the hydrogen production technologies in Korea using analytic hierarchy process (AHP) approach. The AHP is a useful method...

Property rights theory has common antecedents with contractual theories of the firm such as transaction costs and agency theories. Yet, property rights theory is distinct from these contractual theories. The objectives of the current paper are to analyze extant property rights theory and to...

Resource-based theory focuses on how economic value is created and sustained, providing the theoretical underpinnings for explaining and predicting sustainable competitive advantage. An implicit assumption of resource-based theory is that the firm's property rights to such resources are secure....

Property rights theory has common antecedents with contractual theories of the firm such as transaction costs and agency theories, and is yet distinct from these theories. We illustrate fundamental theoretical principles derived from these three theories by analyzing the business case of oil...

Resource-based theory implicitly assumes that property rights to resources are secure. Extant property rights theory enables us to relax this assumption to take into account processes where there are struggles in establishing property rights that enhance the realized economic value of resources....

An understanding of Austrian entrepreneurship, in conjunction with property rights, resource-based and transaction costs theory allow us to understand economic rent generation as a dynamic process. The current paper expands Foss and Foss' (2005) application of property rights theory in...

This paper maintains that joining property rights theory and Austrian economics informs the dynamic capabilities approach by giving context to key constructs within this approach, particularly the nature of organizational processes and asset positions. By defining resources and capabilities as...

We propose a stochastic process driven by memory effect with novel distributions including both exponential and leptokurtic heavy-tailed distributions. A class of distribution is analytically derived from the continuum limit of the discrete binary process with the renormalized auto-correlation...

We propose a stochastic process driven by the memory effect with novel distributions which include both exponential and leptokurtic heavy-tailed distributions. A class of the distributions is analytically derived from the continuum limit of the discrete binary process with the renormalized...