Collusion

Bribery and corruption arising from procurement are rampant in developing countries. According to the World Bank, bribery is involved in US$1.5 trillion worth of government contracts for goods and services. Organizations worldwide are joining hands to tackle this endemic and growing problem. Filling an important knowledge gap, HKUST’s Ying-Ju Chen and co ... 阅读更多

It is well known that financial market regulation has grown stronger over the years. For example, legislation has mandated that publicly-listed firms increase their transparency by disclosing more information in their financial statements. This level of disclosure has had the effect of reducing the cost of capital, levelling the information playing field for ... 阅读更多

In an earnings conference call with investors in 2008, Edward J Shoen, chief executive officer and chairman of U-Haul International, Inc., lamented that the Avis Budget Group, Inc., its main competition in one-way, do-it-yourself moving rental trucks, had failed to match U-Haul’s recent decision to raise prices. Calling the lack of response ‘unfortunate for ... 阅读更多