Search results for "Credence good"
showing 5 items of 5 documents
Audit fees and cost of debt: differences in the credibility of voluntary and mandatory audits
2019
Despite the extensive research on audit fees, few studies have examined the effect of audit fees on the cost of debt. Based on the credence goods theory, we examine whether the effect of audits on the cost of debt is affected by the type of audit (voluntary or mandatory) and the audit fees, as well as whether there is a combined effect of voluntary audits and audit fees, so that the effect of voluntary audits on the cost of debt is affected by audit fees. Using a sample of Spanish SMEs, we find an asymmetric effect of audit fees on the cost of debt: higher audit fees are associated with a lower cost of debt for voluntarily audited companies, while the association is not significant for mand…
Religione, Fiducia e Comportamenti economici
2012
Nell'ambito del progetto Prin 2007, Religioni, democrazia economica e cooperazione nello spazio euro mediterraneo. Partenariato e buone prassi, l’attenzione del contributo è rivolto ad analizzare i legami tra scienza economica e religione. Si osserva come un elemento spesso dimenticato è la fiducia anche per il rinforzo sulle motivazioni intrinseche e materiali del comportamento dell’individuo e nel contesto sociale in cui opera. Le religioni hanno elementi comuni e spiegano diverse problematiche economiche prima fra tutte le relazioni di natura creditizia che –come prima indicato-hanno nella natura fiduciaria un elemento di stabilità come anche le attuali crisi finanziarie hanno dimostrato…
[Loyauté des transactions sur un marché relatif aux attributs de croyance : une analyse appliquée aux produits agro-alimentaires]
2001
International audience; Après avoir décliné la typologie des caractéristiques des produits en termes d'attributs de recherche, d'expérience et de croyance, les auteurs soulignent les mécanismes susceptibles d'assurer l'efficacité des transactions marchandes. Afin de cerner les enjeux liés à la loyauté des transactions dans le cas des attributs de croyance, ils montrent à l'aide d'un jeu simple, le caractère crucial des phases de définition, de vérification et de signalement, ces dernières nécessitant généralement l'intervention d'agents extérieurs à la transaction marchande.
Purchasing Power and Process Attributes: Some Preliminary Considerations in the Arena of International Trade
2001
We analyse the implications of regulating market-based process attributes in an international trade context. We apply our work to agro-food products by providing anecdotal evidences. To guarantee fair trading in open market-based credence goods, we underline the importance of the defining stage prior to the stages of monitoring and signalling hidden credence properties. We briefly discuss some implications of marketing process attributes in the context of international trade, notably by stressing the need for international co-operation. JEL Classification Numbers: D 82, F 13, Q 18, L 15
Opening the black box of food quality in the short supply chain: Effects of conventions of quality on consumer choice
2015
In recent years new forms of food distribution organisation, known as short supply chains, have gained ground. The local nature of such distribution has positive effects on the environment and on the local economy. Consumers appear to trust the short supply chain, and it has achieved considerable success. However, the short supply chain has credence characteristics which, by their very nature, cannot be identified through a system of certification. The question we address in this paper is whether it is possible to identify the constituent elements of the credence trait in relation to food quality in the short supply chain. Our hypothesis is that the latter are linked to a range of socially …