Articles

A Legal Analysis of Packaging Standardisation Requirements Under EU Law - The Case of ‘Plain Packaging’ in the United Kingdom

A. ALEMANNO

Journal of Business Law

Forthcoming

Departments: Tax & Law, GREGHEC (CNRS)


A Mathematical Turn in Business Regulation: The Rise of Legal Indicators

D. RESTREPO AMARILES

International Journal of Law in Context

Forthcoming

Departments: Tax & Law


Alliance Formation and Firm Value

G. PACHECO DE ALMEIDA, L. CABRAL

Management Science

Forthcoming

Departments: Strategy & Business Policy, GREGHEC (CNRS)

Keywords: firm alliances, matching, competitive advantage


We consider the formation of alliances that potentially create complementarities, that is, when the value function is super-modular in firm resources. We show that, in a frictionless world where information is perfect and managers optimize, firm alliances disproportionately increase the value of high-resource-level firms, resulting in higher variance and higher skewness of the distribution of firm value; moreover, higher-value alliances are subject to regression to the mean at a faster rate. These effects are magnified if the degree of complementarities is endogenously determined by each firm’s investment. We also consider alliances where matching and/or information about firm resources are imperfect, and show that complementarities are a necessary but not sufficient condition for alliances to cause an increase in firm value; and that complementarities are neither a necessary nor a sufficient condition for alliances to be correlated with higher firm value

Ambiguity and the Bayesian Approach

I. GILBOA, M. MARINACCI

Advances in Economics and Econometrics: Theory and Applications

Forthcoming

Departments: Economics & Decision Sciences, GREGHEC (CNRS)


An analytic calculus for the intuitionistic logic of proofs

B. HILL, F. POGGIOLESI

Notre Dame Journal of Formal Logic

Forthcoming

Departments: Economics & Decision Sciences, GREGHEC (CNRS)



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