Replication is conducting a study in another case (or population) in order to assess whether a research finding from previous studies can be confirmed. The aim of replication is to assess the generalizability of a theoretical claim and the “research finding†that is (or is not)...

Theory-testing with cases is ascertaining whether the empirical evidence in a case or in a sample of cases either supports or does not support the theory. There are two methodologies for theory-testing with cases, (a) testing in a single case (‘theory-testing single case study’),...

Pattern matching is comparing two patterns in order to determine whether they match (i.e., that they are the same) or do not match (i.e., that they differ). Pattern matching is the core procedure of theory-testing with cases. Testing consists of matching an “observed pattern†(a...

Theory-building with cases is (a) formulating new propositions that emerge from the empirical evidence in a sample of cases and (b) testing them in the same sample. The main difference with most other forms of generating new propositions (such as analyzing the theoretical literature,...

Purpose – To show that necessary condition hypotheses are important in operations management, and to present a consistent methodology for building and testing them. Necessary condition hypotheses (“X is necessary for Yâ€) express conditions that must be present in order to have a...

We investigate whether risk seeking or non-concave utility functions can help to explain the cross-sectional pattern of stock returns. For this purpose, we analyze the stochastic dominance efficiency classification of the value-weighted market portfolio relative to benchmark portfolios based on...

Most agent-based simulation models of financial markets are discrete-time in nature. In this paper, we investigate to what degree such models are extensible to continuous-time, asynchronous modelling of financial markets. We study the behaviour of a learning market maker in a market with...

In this paper, I present a theory of management control based on Transaction Cost Economics. This theory seeks to integrate into a single framework a set of insights as to the nature of the organization's activities, the control problems that are inherent in these activities, and the unique...