Search results for "Transaction cost"

Optimal contract length for biodiversity conservation under conservation budget constraint

2014

We examine the optimal length of a contract period in a conservation program with payments for ecosystem services aiming at protecting biodiversity on privately owned forests. The government chooses the number of stands and the length of contracts so as to maximize biodiversity benefits under a binding conservation budget. We examine the implication of two alternative budgets: a separate budget for each period (periodic budget) or one budget that to be used in all periods (intertemporal budget). The impact of the budget type shows up in the fact that with intertemporal budget choice set is larger and more high quality stands are available for contracting. Based on theoretical characterizati…

2020

Marine and coastal activities are closely interrelated, and conflicts among different sectors can undermine management and conservation objectives. Governance systems for fisheries, power generation, irrigation, aquaculture, marine biodiversity conservation, and other coastal and maritime activities are typically organized to manage conflicts within sectors, rather than across them. Based on the discussions around eight case studies presented at a workshop held in Brest in June 2019, this paper explores institutional approaches to move beyond managing conflicts within a sector. We primarily focus on cases where the groups and sectors involved are heterogeneous in terms of: the jurisdiction …

Impact of accounting process characteristics on accounting outsourcing - Comparison of users and non-users of cloud-based accounting information syst…

2019

Article In Press The article of record as published may be found at https://doi.org/10.1016/j.accinf.2019.06.002 Prior literature informs us that a company's decision to outsource a business process depends on process characteristics such as how frequently the process is performed or how specific the assets required by the process are. In this article, we compare the effects of accounting process characteristics on outsourcing decisions across users of traditional and cloud-based accounting information systems (AIS). By focusing on outsourcing of accounting processes among small and medium sized enterprises, we investigate the effect of five business process characteristics (frequency, huma…

La agricultura a tiempo parcial y la externalización de servicios agrarios como vehículo del cambio estructural

2010

El «ajuste clásico» ha sido interpretado frecuentemente como la senda racional y óptima de modernización del sector agrario. Esto ha llevado a considerar a la agricultura a tiempo parcial como un subproducto (ineficiente) del modelo clásico. Frente a este planteamiento, el artículo defiende la potencial contribución de la agricultura a tiempo parcial (y la externalización de servicios asociada a la misma) al proceso de innovación y de modernización de las estructuras agrarias. Se revisa críticamente la literatura adoptando una perspectiva microeconómica y territorial y esbozando un marco analítico que combina los enfoques de los costes de transacción y evolucionista. Utilizando información …

Factors Influencing Accounting Outsourcing Practices among SMEs in Pakistan Context: Transaction Cost Economics (TCE) and Resource-Based Views (RBV) …

2014

Published version of an article from the journal:International Journal of Business and Management. Also available from the publisher:http://dx.doi.org/10.5539/ijbm.v9n7p19 The present study was conducted to identify factors that affect Pakistani manufacturing SMEs decisions to outsource management accounting practices in terms of transaction cost economics (TCE) and resource-based view (RBV). A survey of 302 SMEs was carried out using convenience sampling, a personal interview owners/managers/CFOs located in 9 major cities of Pakistan. Our multiple regression analysis revealed that the frequency of non-routine tasks, asset specificity, opportunism, trust in accountant and competition has a …

High Order Compact Finite Difference Schemes for A Nonlinear Black-Scholes Equation

2001

A nonlinear Black-Scholes equation which models transaction costs arising in the hedging of portfolios is discretized semi-implicitly using high order compact finite difference schemes. A new compact scheme, generalizing the compact schemes of Rigal [29], is derived and proved to be unconditionally stable and non-oscillatory. The numerical results are compared to standard finite difference schemes. It turns out that the compact schemes have very satisfying stability and non-oscillatory properties and are generally more efficient than the considered classical schemes.

Organizational models in the Sicilian ornamental plant industry: An empirical analysis based on transaction cost theory

2015

The process of market globalization has led to a redefinition of business models in order to compete in domestic and international markets. In the current competitive scenario, the survival of companies is linked to their ability to reduce or contain the sum of both production and transaction costs. The aim of this paper is to identify the existence of similar organizational models of a sample of Sicilian firms active in the Ornamental Plants sector based on those transaction costs that they support in relation to the sales channel and the other human and firm characteristics. Using a clustering procedure, we identified four well-distinct organizational models whose formation is influenced …

¿SE PUEDE MEDIR LA NEGOCIACIÓN INFORMADA?: UNA REVISIÓN DE LA METODOLOGÍA BASADA EN LAS COVARIANZAS DE LAS SERIES DE PRECIOS

2009

RESUMENEl desarrollo en los modelos teóricos de microestructura ha motivado la aparición de un grupo de trabajos encaminado al estudio empírico de los costes de transacción y sus componentes dada la importancia que han tenido los mismos en el estudio del funcionamiento de los mercados y la comparación entre éstos así como sus numerosas aplicaciones en campos afines (finanzas corporativas, eficiencia de los mercados, etc.). Por otra parte, la contrastación empírica de los distintos modelos establecidos muestra resultados claramente dispares. Por ello, el objetivo de nuestro trabajo es analizar con detalle y en conjunto dichos modelos centrándonos en un grupo con características muy similares…

Voluntary agreements in protecting privately owned forests in Finland — To buy or to lease?

2008

Abstract A voluntary conservation approach may reveal environmentally minded landowners who are willing to protect their lands with a compensation that is lower than the market price based compensation. Consequently, voluntary conservation programs may induce lower costs than traditional obligatory programs, such as a land taking. We compared the costs accrued from land purchasing with those from temporal land leasing. The costs included both direct costs, such as fees of land acquisition and compensation payments in land leasing, and transaction costs. We used a data set from a Finnish pilot program called Trading in Natural Values (TNV). In this new practice landowners and the authority t…

Homeward Bound FDI: Are Migrants a Bridge over Trouble Finance?

2016

Migrants can lower cross-border investment barriers, help investors by providing information about their homeland and reduce transaction costs by sharing expertise on regulations, customs and procedures. In addition to generating these well-known networking effects, migrants can also provide valuable information about local finance, thereby easing the credit constraints foreign investors faced during the 2007 financial crisis. This paper sheds new light on the underlying mechanisms through which migration may affect foreign investment in the migrant's homeland by distinguishing between the effects on FDI's intensive and extensive margins. Gravity estimates for 140 countries for the period 2…