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This paper empirically investigates the effect of leverage on strategic preemption. Using new data on entry plans and incumbent investments from the American casino industry, I find that high leverage prevents incumbents from responding to entry threats. Facing the same set of entry plans, low leverage incumbents expand physical capacity by 30 percent, whereas high leverage incumbents do not. This difference in investment matters because capacity installations preempt eventual entry. Indeed, stock market reactions to withdrawn plans imply effective preemption increases incumbent firm value by 5 percent. My findings suggest that leverage matters for industry composition, not just firm-level investment.
Not only examines how to analyze industry structure and how todetermine your company's competitive position within it, but alsodetails how to use such analysis in order to gain the competitiveedge by anticipating or changing the rules of the game--evenchanging the game itself. Provides clear, concise solutions to somemajor problems such as how to describe and communicate a strategyand how to determine what's feasible and what's not, depending onyour company's position. Packed with case studies from suchindustries as AT&T, Federal Express, United Airlines and more.
Expertly surveying the realm of corporate finance, this adroitly-crafted Handbook offers a wealth of conceptual analysis and comprehensively outlines recent scholarly research and developments within the field. It not only delves into the theoretical dimensions of corporate finance, but also explores its practical implications, thereby bridging the gap between these distinct strands.
The dramatic declaration by U.S. President George W. Bush that, in light of the attacks on 9/11, the United States would henceforth be engaging in "preemption" against such enemies as terrorists armed with weapons of mass destruction forced a wide-open debate about justifiable uses of military force. Opponents saw the declaration as a direct challenge to the consensus, which has formed since the ratification of the Charter of the United Nations, that armed force may be used only in defense. Supporters responded that in an age of terrorism defense could only mean "preemption." This volume of all-new chapters provides the historical, legal, political, and philosophical perspective necessary to intelligent participation in the on-going debate, which is likely to last long beyond the war in Iraq. Thorough defenses and critiques of the Bush doctrine are provided by the most authoritative writers on the subject from both sides of the Atlantic. Is a nation ever justified in attacking before it has been attacked? If so, under precisely what conditions? Does the possibility of terrorists with weapons of mass destruction force us to change our traditional views about what counts as defense? This book provides the most comprehensive assessment to date of the justifiability of preemptive or preventive military action. Its engaging debate, accompanied by an analytic Introduction, focuses probing criticism against the most persuasive proponents of preemptive attack or preventive war, who then respond to these challenges and modify or extend their justifications. Authors of recent pivotal analyses, including historian Marc Trachtenberg, international relations professor Neta Crawford, law professor David Luban, and political philosopher Allen Buchanan, are confronted by other authoritative writers on the nature and justification of war more broadly, including historian Hew Strachan, international normative theorist Henry Shue, and philosophers David Rodin, Walter Sinnott-Armstrong, and Suzanne Uniacke. The resulting lively and many-sided exchanges shed historical, legal, political, and philosophical light on a key policy question of our time. Going beyond the simple dichotomies of popular discussion the authors reflect on the nature of all warfare, the arguments for and against it, and the possibilities for the moral to constrain the military and the political in the face of grave threat. This book is a project of the Oxford Leverhulme Programme on the Changing Character of War.
The structure of this book follows the decision-making process of Original Equipment Manufacturers investigating the potential of closed loops, including fundamental questions managers must answer when planning a circular supply chain: Does a closed loop fit corporate objectives? Is it profitable? How should OEMs deal with free-rider competition? Which product/technology/location setup leads to a profit-maximizing supply chain? The book includes case studies from the tire and the computer industry.
This book examines the evolution towards increased supranational governance in the EU’s Area of Freedom, Security and Justice (AFSJ). At the end of 2009, a successor programme to the Tampere and Hague Programmes was developed under the Swedish Presidency. Called the ‘Stockholm Programme’, it was adopted at a special EU Council Summit on 10-11 December 2009. The new agenda covers the period 2010-2014 and emphasises six areas of priority. In the context of these priorities, as well as the innovations introduced by the Lisbon Treaty, this edited book analyses policy change in the AFSJ, especially as it has been affected by the rise of supranational governance in this domain. From police cooperation and crime fighting to border management and counter-terrorism, much has changed, and the EU has taken yet another step forward in the direction of supranational governance. However, the various contributions also highlight that there are still problems and challenges remaining for the AFSJ. Collectively, this book considers how consequential the Lisbon Treaty has been for the AFSJ, as well as how successful the EU has been in achieving its stated goals as expressed in the Stockholm Programme. Thus, this book makes a significant contribution to the scholarly investigation of the AFSJ, but also to the study of European integration in general. This book was published as a special issue of the Cambridge Review of International Affairs.
Author : George S. Day Publisher : John Wiley & Sons Page : 484 pages File Size : 42,94 MB Release : 2004-08-13 Category : Business & Economics ISBN : 9780471689577
Die Wharton Business School ist die älteste Institution ihrer Art in Amerika und eine der bestangesehenen der Welt. Ein Expertenteam aus fünf verschiedenen Fachgebieten in Wharton diskutiert hier eine der wichtigsten Fragen für ein Unternehmen der Gegenwart - die Sicherung der Wettbewerbsfähigkeit. Neueste Konzepte kreativer Strategien werden vorgestellt.
As environmental, national security, and technological challenges push American law into ever more inter-jurisdictional territory, this book proposes a model of 'Balanced Federalism' that mediates between competing federalism values and provides greater guidance for regulatory decision-making.
Today there are few organizations that can afford to ignore information technology and few individuals who would prefer to be without it. As managerial tasks become more complex, so the nature of the required information systems changes from structured, routine support to ad hoc, unstructured, complex enquiries at the highest levels of management. As with the first three editions, this fourth edition of Strategic Information Management: Challenges and Strategies in Managing Information Systems presents the many complex and inter-related issues associated with the management of information systems. This book provides a rich source of material reflecting recent thinking on the key issues facing executives in information systems strategic management. It draws from a wide range of contemporary articles written by leading experts from North America, Asia, and Europe. Designed as a course text for MBA, Master's level students, and senior undergraduate students taking courses in information management, it also provides a wealth of information and references for researchers. New to this edition are updated readings addressing current issues and the latest thinking in information management.