Slack Resources and the Rent-Generating Potential of Firm-Specific Knowledge

We examine how two types of slack resources relevant to knowledge employees—human resource slack and financial slack at the R&D functional level—influence the rent-generating potential of firm-specific knowledge resources. According to the resource- and knowledge-based views of the firm, firm-specific knowledge resources are critical for generating economic rents for a firm. However, withou…

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Project finance in theory and practice : designing, structuring, and financin…

Project Finance in Theory and Practice: Designing, Structuring, and Financing Private and Public Projects, Third Edition presents a set of topics that can be applied to any project financing task. It includes essential, core material for project finance, offering new insights about Sharia-compliant instruments and a comprehensive overview of the current state of the international regulation of …

The Capital budgeting decision economic analysis of investment projects / Har…

Includes bibliographies, index and tables.

Capital budgeting under uncertainly Raj Aggarwal

Edisi

-

ISBN/ISSN

9780131172500

Deskripsi Fisik

x, 292 p. : il. ; 22 cm.

Judul Seri

-

No. Panggil

658.154 Agg c

Slack Resources and the Rent-Generating Potential of Firm-Specific Knowledge

We examine how two types of slack resources relevant to knowledge employees?human resource slack and financial slack at the R&D functional level?influence the rent-generating potential of firm-specific knowledge resources. According to the resource- and knowledge-based views of the firm, firm-specific knowledge resources are critical for generating economic rents for a firm. However, without mo…

The Benefits of geographic sales diversification: How exporting facilitates c…

Many strategic investments require firms to make upfront outlays to generate profits at a later date. When firms have limited access to external capital, they have to rely on internally generated funds for these investments. In this case, their strategic investments are constrained by cash flow. I predict that by geographically diversifying sales (i.e., exporting), firms can relax this constrai…

Explaining temporal orientation: Evidence from the durability of firms' capit…

In contrast to broad generalizations about the short-termism of managers, this paper explains changes in the temporal orientation of specific firms over time based on performance relative to aspirations and top management team incentives. We gain empirical traction on temporal orientation by measuring the durability of acquired property, plant, and equipment (asset durability) from reported dat…

Corporate capital allocation: a behavioral perspective

Previous research on capital investment has identified a tendency in multibusiness firms toward cross-subsidization from well-performing to poorly performing divisions, a phenomenon that has previously been attributed to principal-agent conflicts between headquarters and divisions (Stein, 2003). In this paper, we argue that cross-subsidization reflects a more general tendency toward even alloca…

Firm-specific knowledge resources and competitive advantage: the roles of eco…

The resource-based view of the firm emphasizes the role of firm-specific resources, especially firm-specific knowledge resources, in helping a firm to achieve sustainable competitive advantage. However, the deployment of firm-specific knowledge often requires key employees to make specialized human capital investments that are not easily redeployable to other settings. Thus, in the absence of e…

Price and investment dynamics: theory and plant-level data

We construct a model of a firm competing for market share in a customer market and making investments in physical capital. The firm is financially constrained and there are implementation lags in investment. Our model predicts that product prices should depend on costs and competitors' prices but respond weakly to demand shocks. Also, prices should be strongly related to investment. We estimate…

Accruals, capital investments, and stock returns

The evidence from this study shows that the "accruals anomaly" and the "capital investment anomaly" are distinct, even though capital investments and accruals may be related in a certain way. The results also indicate that, after adjustment for the Fama-French three risk factors, investors earn substantially higher returns by using a strategy that exploits both anomalies at the same time than b…

How does financing impact investment? the role of debt covenants

We identify a specific channel (debt covenants) and the corresponding mechanism (transfer of control rights) through which financing frictions impact corporate investment. Using a regression discontinuity design, we show that capital investment declines sharply following a financial covenant violation, when creditors use the threat of accelerating the loan to intervene in management. Further, t…