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Current Market (current + market)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	75%

Selected Abstracts

The Effect of Competitive Bidding on Engagement Planning and Pricing,

CONTEMPORARY ACCOUNTING RESEARCH, Issue 1 2004
KARLA M. JOHNSTONE
Abstract This paper investigates how clients' choices regarding whether or not to engage in competitive bidding affect a bidding firm's decisions about planned engagement effort and pricing. Specifically, we investigate whether competitive bidding is associated with higher planned engagement effort and lower fees relative to noncompetitive bidding, and whether competitive bidding is associated with increased sensitivity of effort and fees to cost drivers and the components of service production. There is little available evidence regarding the effects of competitive versus noncompetitive bidding in the current market, and none that focuses on both quality and pricing effects associated with competitive bidding across a broad array of clients. We address these issues using data from a sample of one firm's evaluations of prospective clients, made during 1997-98. During that period, about half of the firm's bids were competitive and half were noncompetitive, providing a unique opportunity to study how the bidding environment affects engagement planning and pricing. Our findings reveal that competitive bidding is associated with higher planned engagement effort and lower fees. In addition, we find that in competitive bidding situations there are stronger associations between cost drivers and planned engagement effort, and between the components of service production and fees. [source]

An early warning system for financial crisis using a stock market instability index

EXPERT SYSTEMS, Issue 3 2009
Dong Ha Kim
Abstract: This paper proposes to utilize a stock market instability index (SMII) to develop an early warning system for financial crisis. The system focuses on measuring the differences between the current market conditions and the conditions of the past when the market was stable. Technically the system evaluates the current time series against the past stable time series modelled by an asymptotic stationary autoregressive model via artificial neural networks. Advantageously accessible to extensive resources, the system turns out better results than the conventional system which detects similarities between the conditions of the current market and the conditions of previous markets that were in crisis. Therefore, it should be considered as a more advanced tool to prevent financial crises than the conventional one. As an empirical example, an SMII for the Korean stock market is developed in order to demonstrate its potential usefulness as an early warning system. [source]

Creative imitation: exploring the case of cross-industry innovation

R & D MANAGEMENT, Issue 3 2010
Ellen Enkel
In cross-industry innovation, already existing solutions from other industries are creatively imitated and retranslated to meet the needs of the company's current market or products. Such solutions can be technologies, patents, specific knowledge, capabilities, business processes, general principles, or whole business models. Innovations systematically created in a cross-industry context are a new phenomenon for theory and practice in respect of an open innovation approach. While the cognitive distance between the acquired knowledge and the problem to be solved was regarded as a counterproductive factor in older research, recent theory regards it as positively related to innovation performance. Following the latest theory, we examine 25 cross-industry cases to ascertain cognitive distance's influence on innovation performance. Our study reveals that there is no direct correlation between a higher or a closer distance and a more explorative or exploitative outcome. [source]

Emerging Markets as Learning Laboratories: Learning Behaviors of Local Firms and Foreign Entrants in Different Institutional Contexts

MANAGEMENT AND ORGANIZATION REVIEW, Issue 3 2005
Michael A. Hitt
abstract In this work, we examine and integrate the research streams on learning behaviours of both local firms and foreign entrants in emerging markets. We propose that local firms and foreign entrants differ in the types of learning pursued and in the learning processes used. While emerging market firms engage in a significant amount of exploratory learning, they also attempt to exploit the newly gained knowledge in their current markets. Furthermore, foreign entrants engage in exploitative learning as expected but also must participate in exploratory learning to acquire knowledge of culture, institutional norms, and important social relationships. While much of the learning occurs through cooperative processes with both partners, they also each engage in experiential learning. We argue that emerging markets also differ; firms in the more mature emerging markets seek different types of learning and the learning processes used vary compared to those in less mature emerging markets. Our research suggests that emerging markets represent learning laboratories and provide a base to catalyse future research. [source]