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Book Evaluation of Long Term Contracts

Download or read book Evaluation of Long Term Contracts written by Jack Stieber and published by . This book was released on 1959 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Long term Relationships Governed by Short term Contracts

Download or read book Long term Relationships Governed by Short term Contracts written by Vincent P. Crawford and published by . This book was released on 1986 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book The Trend Toward Longer term Contracts

Download or read book The Trend Toward Longer term Contracts written by Princeton University. Industrial Relations Section and published by . This book was released on 1957 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book A Model of Long term Contracts

Download or read book A Model of Long term Contracts written by John B. Bryant and published by . This book was released on 1979 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Evaluation of Strategies for Repeat Procurement

Download or read book Evaluation of Strategies for Repeat Procurement written by Christopher M. Held and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: For the past several decades, there has been a fundamental dispute between the appropriate mechanism for repeat procurement. On one hand, the supporters of Porter (1979) advocate a competitive setting where short-term contracts are used to increase buyer power and lower supplier prices. On the other hand, the supporters of Deming (1986) advocate the idea of long-term contracts to align buyer and supplier incentives. This trade-off between long-term and short-term contracts has fundamentally affected the practice of procurement, with most suppliers opting for hybrid strategies such as Incumbent Biasing: a strategy characterized by short-term contracts with frequent rebidding with an advantage given to the incumbent. This work examines this hybrid strategy to determine its effectiveness. First, we create an empirical model that identifies and measures the trade-offs between the Porter and Deming strategies. Using this model, we find that Incumbent Biasing has an impact on procurement performance via two mechanisms: first, Incumbent Biasing decreases bidding competitiveness in repeat procurement bidding, which decreases performance; second, Incumbent Biasing has a moderating effect where it improves incentive alignment between the buyer and supplier and improves procurement performance. We show that depending on the current contract design, the net effect of Incumbent Biasing on overall procurement performance can be either positive or negative. This is first work to empirically test the impact of Incumbent Biasing on procurement performance and the first to identify the positive and negative mechanisms by which this impact occurs. Using this research, managers will be able to identify their firm's position with regards to incentive alignment with their supplier to determine if Incumbent Biasing has a net positive effect for their firm. After identifying the impact of Incumbent Biasing on procurement performance, we contribute to the literature by testing this analysis through two additional extensions. First, using secondary data analysis we show that our construct for procurement performance is correlated with firm performance. We do this by comparing the answers to our procurement performance construct items to the change in gross margin of the publicly traded respondents in our study over time. This shows that our construct is not only reliable, but that procurement performance has a positive impact on overall firm performance. This is the first work to provide an empirical construct for procurement performance that is validated via secondary data analysis of firm performance. Second, we test a competing theory to Incumbent Biasing which is Multi-Sourcing: the strategy of spreading a contract to multiple suppliers to maintain competitiveness in bidding. Approximately 46% of our sample identify as using both strategies simultaneously and we test for an impact between the two. We show that the two strategies to not impact each other and can be viewed independently. Subsequently, we test two Multi-Sourcing constructs in our model and find that there is no significant impact on bidding competitiveness from Multi-Sourcing. Subsequently, we examine the impact of repeatedly awarding a contract to a pool of bidders. In our model, one contract is bid repeatedly over time, resulting in bidders gaining information about their competitors' cost. The academic literature is mixed on how a buyer should approach this type of contract bidding interaction. On one hand, it is argued that establishing an awarding structure that favors the incumbent decreases the frequency of switching, and thus cost. On the other hand, it is argued that an awarding structure that favors the non-incumbent (entrant) bidders places competitive pressure on the incumbent and generates low margin bids. This issue is further complicated by the practice cited in the academic literature of ``defection', where entrant firms either perceive a bias or believe that their cost is uncompetitive and will not bid in future stages. We create a framework that explores the apparent contradictions in these recommendations and gives conditions when biasing toward the incumbent or entrant should be implemented. We first characterize bidders based on their effort to bid and their cost to supply the contract. We then show that in the case of low effort to bid and high cost for the entrant, entrant biasing is optimal; when the reverse is true incumbent biasing is optimal. Using the results from our analysis, we provide guidance to buyers facing a repeated procurement process.

Book Revenue Recognition for Long term Contracts

Download or read book Revenue Recognition for Long term Contracts written by Peat, Marwick, Mitchell & Co and published by . This book was released on 1976 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book The Design and Performance of Long term Contracts

Download or read book The Design and Performance of Long term Contracts written by Terence Daintith and published by . This book was released on 1985 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Long Term Contracts

Download or read book Long Term Contracts written by Kanaga Dharmananda and published by . This book was released on 2013 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: Australia's prosperous energy and resources sector is founded on long term contracts. Long term contracts give rise to a variety of difficult conceptual and practical issues that must be confronted by commercial lawyers and energy and resource professionals on a daily basis, ranging from negotiation and documentation through to interpretation and breach.Questions as to the operation, nature, and effect of long term contracts will continue to assume central importance to Australia as a whole in circumstances where the Asian economies, particularly China, Japan, and India, are anxious for security of supply in relation to commodities.This book confronts some of the major issues under long term contracts from both legal and practical perspectives.

Book Long term Contracts Imperfect Information and Monetary Policy

Download or read book Long term Contracts Imperfect Information and Monetary Policy written by Mark L. Gertler and published by . This book was released on 1980 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Intertemporal Substitution in the Presence of Long Term Contracts

Download or read book Intertemporal Substitution in the Presence of Long Term Contracts written by John M. Abowd and published by . This book was released on 1983 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Good Faith in Long Term Relational Supply Contracts in the Context of Hardship from A Comparative Perspective

Download or read book Good Faith in Long Term Relational Supply Contracts in the Context of Hardship from A Comparative Perspective written by Peng Guo and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides fair and acceptable solutions to hardship issues in long-term relational supply contracts. This book uses an approach to strike a balance between the traditional approach underlying classical contract law which emphasises the almost absolute prevalence of the principle of pacta sunt servanda and a flexible approach that is based on the principle of clausula rebus sic stantibus. This book argues for an emerging principle of pacta sunt servanda bona fide on the basis of the relational contract theory. Additionally, this book demonstrates how good faith can serve as a foundation for imposing a duty to renegotiate on the parties. The aim of this book is rather to propose how relational contract theory can be applied to the analysis of specific legal rules in general. Lastly, this boos highlights how the duty to renegotiate and the power to adapt a contract can be further developed upon the occurrence of hardship, based on good faith and the relational nature and characteristics of a long-term relational supply contract. This book explores and enriches the existing research on relational contract theory concentrates primarily on its application in domestic contract laws, particularly in the regulation of long-term contracts in American contract law. As an outcome this book provides a more feasible and satisfactory approach for courts or arbitral tribunals to undertake when facing hardship issues in international contract disputes. Overall, hardship themes, long-term relational supply contracts and good faith are examined extensively. .

Book Long Term and Short Term Contract in a Mixed Market

Download or read book Long Term and Short Term Contract in a Mixed Market written by Eduardo Roca and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: With a two-period mixed oligopolistic framework, this paper analyses the interaction between the length of incentive contracts and market behaviour. Assuming an environment in which firms choose either a long-term or short-term contract, we examine how contracts differ between public and private firms. The results show that the contracts would differ completely among firms; public firm prefers to make a short-term contract while private firm makes a long-term contract.