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Evidence Submitted To The Gowers Review Of Intellectual Property
The evidence cited below is not a response for a single firm. It reflects academic studies made using significant databases of large firms in the UK in both the manufacturing and service sectors. Very little was known about the role of intangible business assets in service sectors producing intangible products,...
Sovereign Debt Without Default Penalties
The basic question regarding sovereign debt is why sovereign borrowers ever repay, provided that creditors have no power to foreclose on any of their assets. In this paper an answer is suggested: sovereign debt will be served as long as the median voter is a net loser from default. Default...
Value Based Strategic Sourcing And IT Systems
The software industry has invested heavily in the past ten years on developing Internet based software to support commodity procurement. Despite its critical impact on business performance there has been a much smaller emphasis on new tools and processes to support high value, high risk procurement transactions, although the area...
Limited Asset Markets Participation, Inverted Keynesian Logic And Monetary Policy
This paper incorporates limited asset markets participation in dynamic general equilibrium and develops a simple framework for monetary policy analysis. It is shown that aggregate dynamics and stability properties of an otherwise standard business cycle model depend nonlinearly on the degree of asset market participation: low enough participation causes an...
Foundations for Offshore Wind Turbines
This paper explores some civil-engineering problems encountered for offshore wind turbines. A critical component is the connection of the structure to the ground, and in particular how the load applied to the structure is transferred safely to the surrounding soil. It review previous work on the design of offshore foundations,...
Ambiguity Aversion And Cost-Plus Procurement Contracts
This paper presents a positive theory about the contractual form of procurement contracts under cost uncertainty. While the cost of manufacture is uncertain it can be controlled, to an extent depending on the effort exerted by the agent. The effort exerted by the agent is not contractible but causes disutility...
Modelling of Shallow Foundations for Offshore Structures
This paper concerns the numerical modeling of shallow circular foundations. For design purposes it is almost always necessary to devise a numerical model of foundation behavior, however simple that might be, and the principal focus of this paper is on appropriate numerical models for modern design methods. The basic principles...
Active Agents, Passive Principals: The Role of the Chief Executive in Corporate Strategy Formulation and Implementation
This paper uses agency theory to study the active role of the chief executive in the formulation of corporate strategy. Unlike traditional applications of agency theory, it allows the agent CEO to play a role in defining the parameters of the agency problem. It argues that CEOs will have an...
The Directors' and Officers' Insurance Premium: An Outside Assessment of the Quality of Corporate Governance
Using a sample of directors' and officers' D & O premiums gathered from the proxy statements of Canadian companies, this article examines the D & O premium as a measure of ex ante litigation risk. It provides confirmatory evidence that the D & O premium reflects the quality of the...
Between Evidence - Based Practice and Total Quality Management: The Implementation of Cost-Effective Care
There are an increasing number of studies showing that patients often do not receive necessary care or receive care that is not needed, inefficient or even damaging. There is no lack of ideas and approaches on how to improve practice. In the last decades we have seen the rise of...
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