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作者：Baldenius, T; Reichelstein, S
作者单位：Columbia University; Stanford University
摘要：This paper examines inventory management from an incentive perspective. We show that when a manager has private information about future attainable revenues, the residual income performance measure based on historical cost can achieve optimal (second-best) incentives with regard to managerial effort as well as production and sales decisions. The LIFO (last-in-first-out) inventory flow rule is shown to be preferable to the FIFO (first-in-first-out) rule for the purpose of aligning incentives. O...
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作者：Elhedhli, S; Goffin, JL
作者单位：University of Waterloo; McGill University
摘要：The production-distribution system design is an integral part of the general supply chain design. This paper proposes a novel solution methodology for this problem that is based on Lagrangean relaxation, interior-point methods, and branch and bound. Unlike classical approaches, Lagrangean relaxation is applied in a two-level hierarchy, branch and bound is based on a Lagrangean lower bound and column generation (branch and price), while interior-point methods are used within a cutting-plane con...
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作者：Choudhary, V; Ghose, A; Mukhopadhyay, T; Rajan, U
作者单位：University of California System; University of California Irvine; New York University; Carnegie Mellon University; University of Michigan System; University of Michigan
摘要：We develop an analytical framework to investigate the competitive implications of personalized pricing (PP), whereby firms charge different prices to different consumers based on their willingness to pay We embed PP in a model of vertical product differentiation and show how it affects firms' choices over quality. We show that firms' optimal pricing strategies with PP may be non-monotonic in consumer valuations. When the PP firm has high quality; both firms raise their qualities relative to th...
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作者：Geman, H; Nguyen, VN
作者单位：Universite PSL; Universite Paris-Dauphine; ESSEC Business School
摘要：We present two results concerning soybean prices. First, we exhibit a simple relationship between stocks and price volatility The observation of an increasing price volatility with decreasing inventory is often mentioned in the literature, but has so far been documented using a proxy for inventory (see Fama and French 1987, 1988; Litzenberger and Rabinowitz 1995). Instead, we reconstruct a yearly, quarterly, and monthly database of worldwide soybean inventories using aggregate data from the Un...
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作者：Arora, A; Fosfuri, A
作者单位：Carnegie Mellon University; Universidad Carlos III de Madrid; Centre for Economic Policy Research - UK
摘要：Diagnostic information allows an agent to predict the state of nature about the success of an investment project better than the prior. We analyze the optimal pricing scheme for selling diagnostic information to buyers with different, privately known, ex ante success probability Investment costs and returns of successful projects are assumed to be the same for all buyers. The value of diagnostic information is the difference in expected payoffs with and without it, and we show that the willing...
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作者：Kazaz, B; Dada, M; Moskowitz, H
作者单位：University of Miami; Purdue University System; Purdue University
摘要：Motivated by an aggregate production-planning problem in an actual global manufacturing network, we, examine the impact of exchange-rate uncertainty on the choice of optimal production policies when the allocation decision can be deferred until the realization of exchange rates. This leads to the formulation of the problem as a two-stage recourse program whose optimal policy structure features two forms of flexibility denoted as operational hedging: (1) production hedging, where the firm delib...
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作者：Chen, H; Frank, MZ; Wu, OQ
作者单位：University of British Columbia; University of Minnesota System; University of Minnesota Twin Cities
摘要：This paper examines the inventories of publicly traded American manufacturing companies between 1981 and 2000. The median of inventory holding periods were reduced from 96 days to 81 days. The average rate of inventory reduction is about 2% per year. The greatest reduction was found for work-in-process inventory, which declined by about 6% per year. Finished-goods inventories did not decline. Firms with abnormally high inventories have abnormally poor long-term stock returns. Firms with slight...
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作者：Lieberman, MB; Dhawan, R
作者单位：University of California System; University of California Los Angeles; University System of Georgia; Georgia State University
摘要：T he resource-based view of the firm has become an important conceptual framework in strategic management but has been widely criticized for lack of an empirical base. To address this deficit, we utilize a new method for identifying interfirm differences in efficiency within the context of stochastic frontier production functions. Using data on Japanese and U.S. automobile manufacturers, we develop measures of resources and capabilities and test for linkages with firm performance. The results ...
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作者：Corbett, CJ; Montes-Sancho, MJ; Kirsch, DA
作者单位：University of California System; University of California Los Angeles; Universidad Carlos III de Madrid; University System of Maryland; University of Maryland College Park
摘要：The ISO 9000 series of quality management systems standards, introduced in 1986, has been adopted at over 560,000 locations worldwide. Anecdotal evidence suggests that firms can achieve internal benefits such as quality or productivity improvements or that certification can help firms maintain or increase their market share, or both. Others argue that the standard is too generic to cause performance improvement but can be seen as a signal of good management. In this paper, we track financial p...
