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This article studies how industry peers' stock prices respond when another firm in the industry is acquired by a foreign firm. The average stock price reactions of industry peers in horizontal foreign acquisitions around deal announcements are significantly negative. Peers' returns are more negative in growing, less specialized, and competitive industries. Moreover, the negative stock price reactions of industry peers are related to future decreases in their operating performance. Overall, these results suggest that foreign acquisitions have strong competitive effects for the industry peers of U.S. target companies. [ABSTRACT FROM AUTHOR]

Competitors may perceive a focal firm's CEO succession as creating an exploitable opportunity as well as a future threat to preempt. Drawing from theories of executive human and social capital, we suggest that anticipation of internal disruption stemming from human and social capital changes in a CEO succession may lead to external disruption for the focal firm. In our sample of S&P 500 firms between 2010 and 2018, we find that competitors are more likely to attack the focal firm when the successor's professional experience differs drastically from that of the predecessor and less likely to do so when the successor is an insider. We also find that competitors' attacks following a succession event can be minimized by limiting changes to only one form of capital (i.e., human or social). Moreover, retaining the predecessor as board chair after the succession could be an effective human capital preservation strategy for reducing competitors' attacks when the difference in professional experience between the predecessor and successor is high. However, retaining the predecessor as board chair may not have the same effect when it comes to social capital. Our research highlights the competitive implications of CEO succession, offering new insight into disruption. [ABSTRACT FROM AUTHOR]

Although the liability of foreignness has been shown to present real economic barriers for foreign firms in various contexts around the globe, scholars continue to debate what drives this liability in different market contexts: lack of information due to institutional distance, lack of social embeddedness, discrimination, or something else. In this study, we propose a new theory, that in corporate lobbying within the nonmarket strategy context, the liability of foreignness is driven in no small part by a values-based ideological conflict stemming from the divide between democracy and autocracy. Private-sector firms from autocratic countries face costs of illegitimacy in Washington, D.C., and professional corporate lobbyists charge such firms a fee premium, in effect, to pay for legitimacy. We conduct an empirical study of the lobbying fees charged by professional corporate lobbyists in Washington, D.C., to their domestic and foreign firm clients, and the results strongly support the predictions of our theory. We also show that the liability of foreignness in this context endures for foreign firms from autocratic countries over the 15-year length of our sample period. Offering a new theoretical perspective as well as new empirical findings regarding the liability of foreignness, our study has practical implications for managers of foreign firms and may also generalize to other market contexts. [ABSTRACT FROM AUTHOR]

The large divergence in the returns of top-performing star firms and the rest of the economy is substantially reduced when we account for the mismeasurement of intangible capital. Star firms produce and invest more per dollar in invested capital, have more valuable innovations as measured by the market value of patents, and are as exposed to competitive shocks as nonstars. Star firms have higher markups that are predicted early in their life cycle at a time when they are small. Overall, after we correct for the mismeasurement of intangibles, the evidence points to the superior ability of star firms. [ABSTRACT FROM AUTHOR]

The authors examine the effects of a firm's and its competitors' online reviews on its demand within the hotel industry. The authors leverage a unique data set of actual bookings from properties of a major hotel chain in six different markets in the United States, supplemented with online reviews garnered from a popular social media platform. The findings indicate that not only a hotel's own reviews but also its competitors' reviews have a significant impact on the hotel's booking performance. The impact of review sentiment is amplified if the focal hotel also charges higher prices or when the volume of reviews is high. The authors establish heterogeneous effects across consumer segments (business vs. leisure travelers) and by the type of review content (objective vs. subjective attributes to assess quality). Specifically, both a hotel's own reviews and its competitors' reviews have a larger impact on bookings for business travelers compared with leisure travelers, and for reviews that mainly discuss subjective attributes, for which consumers need to rely on the experiences of others to assess the quality of a hotel prior to their stay. The study provides a set of comprehensive insights on the impact of both own and competitors' online reviews on a focal hotel's bookings. [ABSTRACT FROM AUTHOR]

We test the signaling view of corporate social responsibility (CSR) engagement using two complementary quasi-natural experiments that impose exogenous negative pressure on stock prices. Firms under such adverse price pressure increase CSR activities compared to otherwise similar firms. This effect concentrates among firms with stronger signaling incentives, namely, those facing greater information asymmetry, more product market competition, higher shareholder litigation risk, and higher stock price crash risk. Firms under the exogenous negative price pressure mainly improve CSR strengths, including costly environmental investments. We also find that CSR engagement attracts socially responsible investors and lowers the cost of capital for signaling firms. [ABSTRACT FROM AUTHOR]

By employing a dynamic model with two limit order books, we show that fragmentation is associated with reduced competition among liquidity suppliers and lower picking-off risk of limit orders. Due to these countervailing channels, the impact of fragmentation on liquidity and welfare differs with asset volatility: When volatility is high (low), liquidity and aggregate welfare in a fragmented market are higher (lower) than in a single market. However, fragmentation always shifts welfare away from agents with exogenous trading motives and toward intermediaries. We empirically corroborate our model's predictions about liquidity. Our model reconciles the mixed results in the empirical literature. [ABSTRACT FROM AUTHOR]

This paper examines how labor mobility restrictions like noncompete agreements affect firms' investment decisions. Using matched employee-employer data from LinkedIn, I show that increases in the enforceability of noncompete agreements lead to widespread declines in employee departures, specifically in knowledge-intensive occupations. Established firms that rely more on these knowledge-intensive occupations increase their investment rate in physical capital. However, new firm entry in corresponding sectors declines. I provide evidence for different mechanisms to explain these patterns. Together, the findings show that labor frictions play an important role in investment decisions. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

While research has uncovered an array of visible competitive dynamics, a strategic world of competition lies beneath the surface that should also be theorized and empirically traced. We investigate the strategic consequences of "media–rival" common ownership, in which investors own a media company and a non-media focal firm's rivals. We posit that focal firms receive worse coverage from media outlets when institutional investors hold substantial ownership in both a media company and the focal firm's rivals because the investors' common holdings provide them with incentives and power to enhance the competitiveness of their portfolio firms by tainting the focal firm's media coverage. We account for three moderators to show that this effect amplifies when investors have stronger incentives and power to influence the media and when media executives have incentives to cater to the interests of their investors. Using a novel dataset on common ownership of rival firms and media companies, we find support for our theory. Our study reveals a new invisible hand underlying competitive markets and offers a new view of the media as a strategic tool. [ABSTRACT FROM AUTHOR]

Does proprietary knowledge protection (PKP) spur or hinder the product-market performance of new firms? Exploiting the staggered adoptions of the inevitable disclosure doctrine by U.S. State Courts, which enhance PKP, we show that treated firms increase industry-adjusted sales growth by 2% compared to control firms. The effect is concentrated among small and young firms and increases with the scope of proprietary knowledge and rivals' access to external finance. PKP encourages firms to develop new products and stimulates initial public offering activity. Our results suggest that PKP alleviates predation risk associated with "deep-pocket" rivals by allowing firms to maintain competitive advantages. [ABSTRACT FROM AUTHOR]

Publishers face an existential threat from a variety of news aggregators, such as free aggregators (e.g., Google News, Yahoo News), micropayment-facilitating aggregators (e.g., Blendle), and subscription-charging aggregators (e.g., Apple News+). The authors seek to theoretically examine whether publishers can collaborate and compete with the different types of news aggregators and, if so, what pricing and content-sharing strategies publishers should pursue. In the absence of a news aggregator, publishers sell their content as a composite publication; this intensifies interpublisher price competition and hurts publishers' profits. A free aggregator, however, could help unbundle the articles of a publisher. Moreover, if publishers share articles on the same topic with a free aggregator, they can completely eliminate interpublisher competition and replace it with competition between the aggregator and the publishers, but they only partially eliminate interpublisher competition if they share articles on different topics with it. Yet, the free aggregator needs to bring sufficient additional traffic to the publishers to motivate them to share content and collaborate with it. Conversely, publishers will be willing to collaborate with a micropayment-facilitating aggregator even if it does not bring additional traffic to the publishers. This is because a micropayment-facilitating aggregator helps publishers unbundle their content and price discriminate. Lastly, publishers can be motivated to collaborate even with a subscription-charging aggregator that is powerful enough to dictate the terms of the revenue-sharing arrangement with the publishers. This is because the subscription-charging aggregator improves its profits without hurting the publishers' surplus. [ABSTRACT FROM AUTHOR]

Homeowners who originally bought when marketwide price levels were high (low) fetch high (low) sales prices and rents, even decades later. We study the propagation of reference-dependence to neighboring listings. The "spillover" reference point effect is about one-half as large as the "own" reference point effect. Neither house quality nor location appears capable of explaining the result. Using a simple model to provide empirical predictions, we find support for a competition-based mechanism. We quantify the aggregate effect of own and spillover reference point effects on aggregate prices and/or rents at the ZIP code level. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

Fifty years ago, the Federal Trade Commission stopped enforcing its fictitious reference pricing guidelines, emphasizing the search qualities of price and the belief that competition would drive out deceptive behavior. Yet this practice of posting false, inflated comparison prices alongside sale prices has proliferated. Building on prior analytic work and the documented effects of reference pricing on search behavior and consumer choice, the authors develop a descriptive model explaining why fictitious reference pricing has spread instead of being extinguished by competition. After summarizing the model with a series of generalizations, the authors consider potential regulatory solutions to the problem. They propose that disclosure of the true normal price charged may be the only solution that could plausibly influence both consumer and firm behavior. Then, based on the existing literature, interviews with practitioners and regulators, an analysis of other nations' approaches, and the results of a laboratory study of 900 consumers to examine how they integrate "true normal price" information into deal evaluations, the authors develop a set of propositions about the likely effects of requiring firms to disclose recent selling prices for goods, identifying both potential benefits and challenges associated with such a requirement. [ABSTRACT FROM AUTHOR]

U.S. equity exchanges have experienced a dramatic increase in competition from new entrants, resulting in the fragmentation of trading across venues. While market quality has generally improved over this period, we show most of the improvements have accrued to the largest stocks. We then show this bifurcation in market quality is related to the fragmentation of trading. Theoretically, more exchange competition should reduce trading costs, yet it may also increase adverse selection for liquidity providers, leading to higher spreads. We document evidence of both effects (fragmentation improves market quality for large stocks while small stocks experience relatively worse quality). [ABSTRACT FROM AUTHOR]

Once scaled, online platforms reconfigure value to remain competitive. Reconfiguration in online platforms may take a different form than in pipelines, as online platforms are intermediaries that generate network effects among the sides they connect. They also face stiff competition from other spheres due to lower barriers to entry. Why and how do online platforms reconfigure value? By examining 13 Indian online platforms that have achieved a certain level of success (such as tipped markets, investor confidence, or profitability), this article offers four strategies for reconfiguring online platforms: enhance interactions, enhance capabilities, offer new services, and nurture new transactions. [ABSTRACT FROM AUTHOR]

Why would some firms persist with continued operations when facing unfavorable economic conditions? Although prior studies have investigated the roles of uncertainty and sunk costs as sources of inertia, an unacknowledged type of sunk cost associated with temporary suspensions of operations is related to the erosion of existing capabilities. Building on the resource-based view and real options theory, we argue that resource idling contributes to capability erosion and that the anticipated capability loss motivates firms to refrain from idling their resources under demand uncertainty in the first place. The negative effects of uncertainty on resource idling are likely to be particularly strong for firms with superior capabilities and for those having a greater reliance on human capital. Using data on oil drilling contractors in Texas, the empirical evidence lends support to our theoretical arguments. Our insights suggest that resource idling shapes the development path of capabilities and risks jeopardizing firms' competitive advantages. The seemingly operational decision of temporarily idling resources can therefore be quite strategic for a firm, and "hysteresis," or inertia in continuing operations, can preserve firms' capabilities. [ABSTRACT FROM AUTHOR]

Using novel shadow bank funding data, I find that shadow banks are funded by the very banks they compete with when originating mortgages. Evidence suggests that banks have market power in the upstream market for shadow banks' funding, which in turn softens mortgage market competition through their strategic behaviors in both markets. I build and calibrate a quantitative model of vertical integration and competition to show that those consumers who would most benefit from shadow bank services are the ones to bear the costs. Secondary market innovation could increase downstream competition by reducing shadow banks' reliance on their competitors. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

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I examine whether competition from domestic industry rivals affects firms' proclivity to undertake foreign direct investment (FDI) and their country location choices. I find that competition affects foreign production decisions and the geography of international investments. While firms enduring stiffer competition are significantly less likely to undertake FDI, this effect is heterogeneous across firms. Competition deters FDI more strongly when costs are heavier, whereas it has weaker effects when efficiency is higher, growth opportunities are valuable, and cash reserves are higher. FDI location models suggest that when going abroad, firms facing stronger competition are more likely to pursue economies of productivity and taxation. [ABSTRACT FROM AUTHOR]

Economically insignificant tick sizes encourage undercutting behavior, thus harming market quality. Theoretical work shows that increasing tick sizes in unconstrained markets reduces undercutting and improves market quality. Equity market pricing grids are generally too coarse to test this prediction. We examine a cryptocurrency market with infinitesimal tick sizes where undercutting limit orders acquire price priority without meaningful economic cost. We show that increasing tick sizes reduces undercutting behavior, increases liquidity provision and quoted depth, and reduces transaction costs for institutional and retail-sized trades while decreasing short-term volatility. Tiny tick sizes are suboptimal, supporting increased minimum trading increments in tick-unconstrained markets. [ABSTRACT FROM AUTHOR]

To what extent are multinational corporations able to address societal challenges through voluntary corporate social responsibility (CSR)? Based on an in-depth qualitative study of how apparel multinational corporations have addressed labor standards violations since the deadly 2013 Rana Plaza factory collapse, we show how CSR managers navigate the tension between the emerging responsible management logic and the highly institutionalized market logic, revealing how some go beyond accommodating responsible management within the market by prioritizing responsible management in market-protected spaces. We theorize the construction of market-protected spaces as a multilevel mechanism for institutionalizing an emerging logic in the context of a field dominated by the market logic via three forms of institutional work: restraining the jurisdiction of the market logic, infusing the responsible management logic with nonmarket elements, and maintaining market-protected spaces against resistance. A "market-protected space" is an institutionally bound space that suspends the dominance of the market logic on selected issues based on a binding institutional infrastructure that allows prioritizing responsible management—unlike voluntary CSR, which still prioritizes the market logic. The concept of a market-protected space maps a path for policy-makers, managers, and other actors interested in institutionalizing responsible management in the global economy. [ABSTRACT FROM AUTHOR]

This study investigates the effects of leniency programs on cartel duration, cartel fines, and the length of investigations, providing empirical insights that contribute to the ongoing debate regarding their theoretical and empirical implications. The introduction of leniency programs in two different jurisdictions (EU and Spain) at different times and the exogeneity of the introduction date enable us to identify their impact using difference-in-differences estimations. We empirically show that leniency programs, by destabilizing existing cartels, allow for the detection of the longer-lasting ones in the short run. In the long run, our results suggest that destabilization effects prevail, and leniency programs discourage the creation of new cartels. Specifically, our findings indicate that the duration of detected cartels almost doubles in the short run and nearly halves in the long run. Finally, our study reveals that the introduction of leniency programs results in a significant increase in the average fines per cartel case, both before and after taking into account the fine reductions resulting from these programs. This suggests that leniency programs contribute to stronger sanctions against cartels, enhancing their general deterrent effect. However, our findings also indicate that leniency programs lengthen the average duration of cartel investigations, which may hinder the ability of competition authorities to proactively pursue other cases. [ABSTRACT FROM AUTHOR]

The Fair Trade movement aims to provide producers and workers at the tail end of the value chain with secure working conditions and just incomes. However, the certification standards generated by these goals are often incompatible with the regional production systems. By comparing two Costa Rican banana farms––one Fair Trade, one conventional-my research reveals that Fair Trade regulations fail to account for the complexities of the structural issues that create and maintain precarity. This article shows that despite the movement's best intentions it is unsuccessful in controlling the application of its values as it is disconnected from the communities on the ground. Fair Trade's ideals become tainted locally because of pre-existing inequalities that shape social relations. I therefore specify that Fair Trade would benefit from integrating requirements specific to regional and national production processes––termed here "industry specific" standards. [ABSTRACT FROM AUTHOR]

Urban development in historic cities frequently faces the dilemma of balancing preserving cultural heritage with meeting economic competition and modernization requirements. This study investigates the long-term viability of repurposing heritage buildings in the urban areas of Fuwwah and Rosetta, Egypt. It specifically examines the intricate relationship between competition and integration in achieving sustainability. This study examines the present condition of heritage conservation in these cities by analyzing the factors that impact the sustainability of repurposing buildings and evaluating the effectiveness of strategies that balance the pressures of urban competition with the need to incorporate heritage into the changing urban environment. The research examines the practices and difficulties associated with repurposing heritage buildings in Fuwwah and Rosetta. Examine the economic, social, and environmental factors that impact the long-term viability of heritage preservation. Assess the equilibrium between urban development influenced by competition and the inclusive methods of repurposing heritage buildings. The research methodology comprises two approaches: the first involves conducting a literature review on heritage building reuse, sustainability in heritage conservation, and competition and integration in urban development. The analysis approach focuses on assessing heritage conservation in case studies by examining competition and integrating investment in heritage buildings. The ultimate goal is to draw conclusions and determine the results of these assessments. The research highlights: The study focuses on conserving heritage areas and repurposing heritage buildings in an integrated manner for cities within the same region. This aims to leverage each city's unique characteristics to create competitive investment opportunities, particularly in tourism. Additionally, the goal is to capitalize on each city's distinctiveness to become attractions that mutually benefit one another through project integration. The research examines the cities of Fuwwah and Rosetta as case studies. A series of projects were proposed that interconnect while preserving the privacy of each city. After evaluating the strengths, weaknesses, opportunities, and challenges, these projects were validated through a questionnaire distributed to the relevant stakeholders. The research results confirmed the hypothesis and demonstrated that the proposed projects are conducive to integrated development between the two cities while maintaining the distinctiveness of each city. [ABSTRACT FROM AUTHOR]

Chinese central government uses top-down land quotas as a key tool for limiting urban expansion. Faced with the benefits of land development, how will local governments respond to centralised quotas? We established a framework for multidimensional local government competition to explain quota implementation. This framework includes vertical competition for fiscal revenue and quotas, horizontal competition for economic growth and political promotion, competition between former and subsequent local leaders for recognition of their leadership and temporal distribution of land finance revenue and government debt and competition with landowners as well as developers for land appreciation income and tax revenue. We argue that these types of competition and their spill-over effects drive local governments to strengthen land-centred urbanisation, resulting in the failure of quotas to restrain urban expansion. Our findings help to improve the understanding of local governments' strategies for urban spatial development and centralised urban growth management. [ABSTRACT FROM AUTHOR]

This study investigates international research collaboration (IRC) dynamics between the United States and the United Kingdom, examining co-publication and co-patent indicators. While IRC is crucial for enhancing research competitiveness and economic development, the choice of indicators remains a challenge. The paper addresses this gap by examining the association between co-publications and co-patents on the measurement of IRC. Findings indicate a robust positive correlation between co-publications and co-patents, reflecting increased collaboration in academic and industrial domains. Despite distinct growth rates, their aligned trends suggest potential redundancy in using both indicators. Notably, co-patents have a lasting positive effect on co-publications, emphasising the role of industrial innovations in forecasting scientific collaboration. Acknowledging study limitations, particularly its focus on core countries, prompts future research avenues to broaden insights into IRC dynamics. This study connects theoretical understanding with practical implications, offering nuanced perspectives for policymakers to formulate strategic plans for global scientific collaboration. Researchers are encouraged to consider these insights when selecting indicators, aligning choices with data availability and analytical ease to enhance the relevance and impact of their studies. [ABSTRACT FROM AUTHOR]

Using the market‐based‐view of the firm, this study investigates the relationship between trademark intensity and firm performance under the conditions of product market competition, total factor productivity, and SG&A efficiency. Higher trademark intensity is more positively associated with performance, and this positive association is amplified under higher product market competition or weakened under higher SG&A efficiency or total factor productivity. To address potential endogeneity, we employ partialing out lasso regression and cross‐fit partialing out lasso regression techniques, which yield consistent results. The findings provide valuable insights into the interplay between trademark intensity and firm performance. [ABSTRACT FROM AUTHOR]

The purpose of this research was to present a communication model of customer participation and competitive business with social media based on brand (case study: manufacturing and trading companies of Ahvaz). The statistical population of the research was formed by the experts of manufacturing and trading companies in Ahvaz city. In this research, the considered variables were identified by using interviews and examining the opinions of experts of the investigated companies. 10 experts have been selected using the saturation sampling method. This research, using the foundation’s data analysis method, is a type of cross-sectional research in which the data was collected for several weeks. In the quantitative part, the research community is the customers of food manufacturing and trading companies in the industrial towns of Ahvaz city which have been selected to fit the model. Due to the unlimitedness of the statistical population, 384 samples have been considered, and finally, 312 questionnaires have been analyzed. Using Maxqda software, interviews and Coding is done. Smart PLS 2.0 and SPSS 22 software were used in the validation section. In this research, to check the validity, the findings of the research were presented to the participants and the text of the theory was studied by them and their points of view were applied. The reliability of the model was evaluated using the Kappa index. Kappa index value equal to 0.788. Calculated and placed at the valid agreement level. 58 open codes have been identified among 256 concepts. 58 primary codes in the form of 18 categories, including company performance, electronic services, customer value, customer attitude, social responsibility, competitive advantage, customer loyalty, customer desire, advertising and marketing, brand awareness, customer trust, social media, validation, sharing Content, customer participation, service innovation, organizational factors, branding. Validation of the model showed that the overall index of fit (GOF) is equal to 0.661, which is a strong index and shows the overall high quality of the model. The identified factors have had a significant impact. [ABSTRACT FROM AUTHOR]

The objective of this paper is to analyze the impact of the product market competition on investment efficiency with the mediating effect of Firm Risk Management through a dynamic panel estimation model. The sample consists of 260 non-financial firms listed on the Pakistan stock exchange for the period of 2010–2022. In addition, this paper analyzes the data through the mediation technique as per a review of the prior literature. Investment efficiency is the primary function of corporate finance. Pakistan being an emerging country is mostly owned by the family-owned business. These businesses have different policies as compared to non-family-owned businesses. This is the empirical indication that product market competition decreases investment efficiency in an emerging economy. The result reveals that in Pakistan, product market competition has a significant negative impact on investment efficiency. Firm Risk Management is also mediating the relationship in line with the prior study. The result supports agency theory, Schumpeterian viewpoint, and capital allocation theory. [ABSTRACT FROM AUTHOR]

Due to the context of market competitiveness and the economic and financial crisis, companies need to optimize their production systems, tracking the raw material from the suppliers until the final product arrives to the consumer. The Lean philosophy assumes a relevant role for today's industries through its concepts and tools, enabling optimization, increasing revenues, and having the principle of not expropriating the environment. This article aims to analyse the level of maturity reached by industries in Luanda regarding the practices and tools of the Lean philosophy. A Lean graphic model was built, measured by the Lean Enterprise Self-Assessment Tool (LESAT) maturity model through qualitative and quantitative research focusing on the statistics of 87 circumscribed industries at Viana Industrial Development Pole in the Economic Special Zone of Luanda region, Angola. Initially was conducted an analysis to see whether Lean practices and tools were used: 5S, OKJust-In-Time, Kanban, Bottleneck Analysis, Jidoka, Kaizen, Poka-Yoke, SMED, Gemba, Heijunka, Value Stream Mapping, Hoshin Kanri, and Andon. The next steps were to analyse the following: customer value analysis; value chain analysis; analysis of the use of the pulled production system; and analysis of the use of the continuous production flow analysis of continuous improvement. The result shows these industries using the Lean philosophy at a very low level of maturity. Only the 5S tool was known and used. The JIT, Kanban, and Bottleneck Analysis were moderately used. Only 50% of Lean practices were used. [ABSTRACT FROM AUTHOR]

Based on over two years of ethnographic research in the US–Mexico borderlands, this article examines how regional economic development actors work to position the border region as a competitive node in the global economy. In the context of the economic uncertainty generated by recent political and economic restructuring, like the 2008 financial crisis and the COVID-19 pandemic, actors deploy discourses of regionalism and practices of regional integration as part of an economic development strategy designed to foment both economic recovery and competitiveness. I argue that central to their efforts to promote a modern, seamlessly integrated binational border region to interested investors and employers is the maquiladora model of economic development. This is an economic development model built on (1) the long-term devaluation of industrial labor and (2) the active maintenance of the geopolitical border itself, as an institution reproductive of the racialized (and relational) hierarchies of value that underwrite the border region's competitiveness. Engaging insights on capitalism's uneven development from feminist economic geography and contributions from border studies, I suggest that an empirical engagement with the US–Mexico borderlands expands our geographic imagination of where, and how, racialized devaluation happens. Ultimately, taking regional actors and their economic development strategies and imaginaries seriously illuminates their ongoing importance in shaping regional economic trajectories, and therefore the well-being of border communities, now, and in the future. [ABSTRACT FROM AUTHOR]

The purpose of this study is to analyze what strategic choices the company can make in order to survive with the future situation. The key concept in this research is strategy formulation, where the quantitative method used includes industrial management steps applied by PT Siantar Top Tbk in facing processed food business competition. The results of research on the internal and external environment get the strengths, weaknesses, opportunities, and challenges (SWOT) of PT Siantar Top Tbk. The SWOT analysis is then entered into several matrices, including EFE and IFE, CPM, TOWS, SPACE, BCG, IE, GSM, and QSPM. The final recommendation obtained is that the strategic choice of PT Siantar Top Tbk is to diversify product segments, and focus on expanding overseas markets by utilizing digital technology, optimizing e-commerce platforms to expand product range and reach a wider audience efficiently. [ABSTRACT FROM AUTHOR]

In the era of globalization and increasingly intense business competition, companies in various industrial sectors are required to manage their resources efficiently to achieve desired financial goals. The objective of a company is to maximize profits for its survival. Sales are one of the main operational activities of a company and a primary source of revenue. The fluctuating nature of stock prices requires an investor to understand the factors influencing their changes. Factors affecting stock price changes include financial statements and financial ratios.This study uses secondary data, namely the financial statements of Consumer Goods Industry companies in the Food and Beverages sub-sector listed on the Indonesia Stock Exchange (IDX) from 2020-2023. The sampling technique used is purposive sampling, resulting in a total sample of 14 companies. The data analysis technique used in this study is multiple linear regression analysis, preceded by classical assumption tests including normality test, multicollinearity test, heteroscedasticity test, and autocorrelation test. The results of the model fit test show that cash flow and working capital are suitable as explanatory variables for profitability.The hypothesis testing results indicate that cash flow has a positive but not significant effect on profitability, meaning that if cash flow increases, profitability tends to increase. Working capital has a negative but not significant effect on profitability, meaning that if working capital decreases, profitability will increase. The market stock price significantly moderates the relationship between cash flow and profitability, but it does not significantly moderate the relationship between working capital and profitability. [ABSTRACT FROM AUTHOR]

Brand awareness is an important aspect for all companies to be known by their target market. This is important to ensure brands can survive the increasingly fierce business competition. In the midst of the increasing number of healthy sachet drink brands that have emerged, each brand needs to show their differentiating side in order to be able to compete. This is what encourages PT Nutrifood to increase brand awareness, one of which is through an event sponsorship strategy. This research aims to find out how PT Nutrifood can increase brand awareness through sponsorship events. This study uses marketing communication mix theory and qualitative methodology with a descriptive case study research type. The data collection techniques used are observation, in-depth interviews, and documentation. In-depth interviews were conducted with four informants: key informants, first informants, second informants and third informants. This study shows that the marketing communication used by PT Nutrifood in increasing brand awareness by using several elements or communication mixes that are interrelated. The results of the study show that event sponsorship activities carried out by PT Nutrifood and its cooperation partners have succeeded in increasing brand awareness. [ABSTRACT FROM AUTHOR]

The duration of infringements of Articles 101 and 102 TFEU has significant implications on the enforcement of those rules and those subject to enforcement. This article examines the European Court of Justice's case law on the assessment of the duration of an infringement of Article 101 TFEU after the conduct constituting the infringement has ended. While earlier case law focused on continuing market conduct corresponding to the original infringing conduct, more recent case law appears to bring forth an approach centred on the restriction of competition resulting from the conduct. The judgment in Kilpailu- ja kuluttajavirasto suggests that a complete assessment of an infringement's duration should consider the scrutinized conduct's restrictive effects on the competition that it distorts. That judgment also suggests that any price effects or other damages suffered by the infringers' customers do not affect the infringement period's length. [ABSTRACT FROM AUTHOR]

We examine whether gender-diverse boards prioritize product market concerns over capital market incentives when proprietary costs are high. We argue that gender-diverse boards protect their firm's competitive edge and maximize long-term shareholder wealth by ethically and carefully maintaining the confidentiality of proprietary information. Due to the reduced disclosure of proprietary information, firms with gender-diverse boards are likely to face more adverse selection when proprietary costs are high. However, the reduced disclosure of proprietary information enables firms with gender-diverse boards to enhance and maintain their competitive edge and gain higher long-term returns. Using a matched sample of the United States-listed companies, we find that firms with gender-diverse boards, relative to similar firms with all-male boards, (1) are associated with higher adverse selection costs and (2) higher long-run stock returns when the firm faces high product market competition. Collectively, our results suggest that firms with gender-diverse boards, which initially experience higher adverse selection in a competitive environment, are rewarded with a net gain of about 10 percent of their stock price in three years. Our research contributes to the literature by highlighting the importance of board gender diversity in fostering the ethical redaction of proprietary information for proprietary cost-based motives as opposed to agency cost-based motives. Our findings have important implications for regulators, firms, and shareholders by identifying gender-diverse boards as an antecedent for the ethical redaction of proprietary information. [ABSTRACT FROM AUTHOR]

There have been two waves of equity-based investment in physician practices. Both used a combination of public and private sources but in different mixes. The first investment wave, in the 1990s, was led by public equity and physician practice management companies, with less involvement by private equity (PE). The second investment wave followed the Affordable Care Act and was led by PE firms. It has generated concerns of wasteful spending, less cost-effective care, and initiatives harmful to patient welfare. This article compares the two waves and asks if they are parallel in important ways. It describes the similarities in the players, driving forces, acquisition dynamics, spurs to consolidation, types of equity involved, models to organize physicians, and levels of market penetration achieved. The article then tackles three unresolved issues: Does PE investment differ from other investment vehicles in concerning ways? Does PE possess capabilities that other investment vehicles lack and confer competitive advantage? Does physician practice investment offer opportunities for supernormal profits? It then discusses ongoing trends that may disrupt PE and curtail its practice investment. It concludes that past may be prologue, that is, what happened during the 1990s may well repeat, suggesting the PE threat is overblown. [ABSTRACT FROM AUTHOR]

Although new products are not inherently scarce, consumers often display competitive behavior, eagerly queuing up to be among the first to obtain them. To manage the distribution of such sought‐after items, retailers determine which consumers get the opportunity to make a purchase. The question of which selection method ensures fair treatment of individual customers and enhances purchase experiences for a new product remains unresolved. Results of three experiments revealed that those in an ordered selection discipline were likely to be more time‐sensitive and perceive it as fairer than those in the random selection discipline when purchasing a new product. The difference in perceived fairness between the ordered selection discipline and the random selection discipline was more substantial, when the new product was highly scarce, due to increased selection uncertainty. However, the reverse effect was found when consumers were not selected to purchase a new product. The ordered selection discipline was perceived as less fair than the random selection discipline. The findings provide valuable insights into how selection disciplines shape consumers' perceptions of fairness during the purchase of a new product. [ABSTRACT FROM AUTHOR]

Psychology and auditing are considered two scientific domains, having crossed each other’s borders and overlapping in many aspects. An awareness of psychological biases, as a factor influencing the success of financial decisions, as well as a study on the impact of emotions, feelings, and auditors’ personal traits, have gained significance in making financial decisions. This significance is to the extent that the interdisciplinary scholars in both accounting and psychology fields have increasingly acknowledged the role of personality traits, temperament, and emotions in making decisions. In any auditing task, the audits are to employ their own personal characteristics, i.e. the kind of traits rooted in internal elements (e.g. thoughts, values, and hereditary traits) and external elements, being influential in the development of individual audit professional identity. Conducting quality auditing requires human resources to possess identity. Possession of professional identity leads to heightened auditing quality as well as higher auditor success in a highly competitive environment. The main purpose of this study is to identify factors influencing auditors’ professional identity from the viewpoint of audits who are a member of the Iranian Association of Certified Public Accountants (IACPA hereafter). Under a qualitative approach and with the help of interview protocol, this study collected the required data from 27 members of IACPA who are acting as partners and technical managers of auditing institutes. Based on the study findings, the factors influencing auditors’ professional identity have been categorized under four main themes including superior mental capabilities, psychological traits, personality traits, and features of the auditing institutes, expectations and challenges, and eventually promotion of audits’ professional identity status. The results of this study may contribute to the expansion of the study’s thematic literature and may result in the promotion of the audit profession’s status. Moreover, the results can be applied for the elimination of the contemporary challenges evident in the audit profession nationwide. [ABSTRACT FROM AUTHOR]