IE University

About: IE University is a education organization based out in Segovia, Castilla y León, Spain. It is known for research contribution in the topics: Corporate governance & Context (language use). The organization has 527 authors who have published 1709 publications receiving 64682 citations.

Managing A Franchise System: A Literature Review And A Synthesis

Abstract: The article reviews the line of franchising research known as managing a franchise system. The main research topics that can be found in this line of research are conflicts between franchisor and franchisee, the balance of power in the franchising system, and managing the franchisor-franchisee relationship. The author reviews some of the existing literature related to managing franchising systems and provides a synthesis and some recommendations to develop better franchising systems.

A hybrid automated trading system based on multi-objective grammatical evolution

Abstract: This paper describes a hybrid automated trading system (ATS) based on grammatical evolution and microeconomic analysis. The proposed system takes advantage from the flexibility of grammars for introducing and testing novel characteristics. The ATS introduces the self-generation of new technical indicators and multi-strategies for stopping unforeseen losses. Additionally, this work copes with a novel optimization method combining multi-objective optimization with a grammatical evolution methodology. We implemented the ATS testing three different fitness functions under three mono-objective approaches and also two multi-objective ATSs. Experimental results test and compare them to the Buy and Hold strategy and a previous approach, beating both in returns and in number of positive operations. In particular, the multi-objective approach demonstrated returns up to 20% in very volatile periods, proving that the combination of fitness functions is beneficial for

Value Creation and Free-Riding in Platform Markets: The Asymmetric Impact of Competition on Quality Across the Platform Life Cycle

Abstract: We study an overlooked dimension of value creation in platform markets – quality of complements. Producers of high-quality complements contribute to the growth of a platform’s user base, thus creating and expanding a market for complements. Other producers may then free-ride on this investment to sell cheap and lower-quality complements. This free riding may affect negatively the incentives to produce high quality complements, whereas market expansion would affect quality positively. We argue that the positive effects of market – expansion dominate the negative effects of free-riding at early stages of the platform’s life cycle, such that greater competition within the platform system positively affects the quality of complements, while at later stages the opposite is true. Our empirical analysis of the quality of 4,145 new games in the videogame sector between September 1995 and June 2008 offers strong support for this logic.

Challenges and opportunities of a post-Kyoto mitigation regime: a survey of the European electricity sector

Abstract: This paper empirically shows how the uncertainty associated to the absence of a mitigation regime which follows the United Nations Framework Convention on Climate Change Kyoto Protocol (UN FCCC Kyoto Protocol) is affecting investments in abatement activities in the EU electricity sector and, thus, future emissions levels. Based on a survey of EU electric utilities, it identifies the most likely post-Kyoto scenarios considered by them and how they are coping with such uncertainty in their investment decisions. It is found that firms react differently to such uncertainty and adopt different strategies to cope with it, diversifying their emissions control activities. Although most companies foresee post-Kyoto compliance regimes with emissions trading systems, they differ in their perceptions of the form that a post-Kyoto regime could take and are, thus, positioning differently to face such regime. The particular features of each company and the country where they operate affect their perception of the uncertainties, their position regarding a possible post-Kyoto regime and their inclination to carry out mitigation activities. Complying with Kyoto (and, eventually, post-Kyoto) targets significantly influences the investment decisions of European electricity companies. Uncertainty about a post-Kyoto regime may already be affecting investments in mitigation activities in the electricity sector. Therefore, significant progress has to be made in the definition of a post-Kyoto regime. It is urgent to define and agree internationally the emissions reduction objectives and the mitigation instruments that will be accepted for compliance, ensuring continuity of the international emissions trading system foreseen in the Kyoto Protocol.