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The US central government enactment of the 1866 Post Roads Act preempted state and municipal telegraph franchise entry barriers. Like present-day telecommunication companies, local franchise regulations were an entry barrier to US telegraph companies. These pre-1866 state and municipal telegraph laws were barriers of both entry and trade between states. Barriers that would of reduced the benefits of a common market if the barriers had not been preempted by the 1866 Post Roads Act. I document what laws were preempted by the 1866 Post Roads Act, explain how these laws increased entry barriers, provide evidence that preemption was enforced, and use two counterfactuals to calculate rough estimates of the decrease in entry costs from enforcement of the act.

This study aims to examine how the parent firm’s foreign direct investment (FDI) motive influences the roles of corporate boards and CEO appointment of foreign subsidiaries in the context of emerging market multinational enterprises (EMNEs). Based on the agency and resource dependence theories, foreign subsidiary boards mainly serve two governance roles: an internal role focusing on monitoring subsidiary operations and resource flows with parent firms and an external role aimed at securing local operational effectiveness. This paper specifically examines the composition of foreign subsidiary boards in terms of board independence and expatriate director ratio, and whether the CEO is an expatriate, which reflects the emphasized role.

This paper collects data on listed foreign subsidiaries of Chinese MNEs between 2005 and 2021. The final sample includes 754 subsidiary-year observations across 20 host economies. The analysis is conducted using Hausman–Taylor estimation.

This paper finds that strategic asset-seeking FDI motive is associated with a lower expatriate director ratio, a higher independent director ratio and a higher likelihood of hiring nonexpatriate CEOs. In contrast, foreign subsidiaries established with the motive of institutional escape to tax havens result in a higher expatriate director ratio, lower independent director ratio and lower likelihood of hiring nonexpatriate CEOs.

To the best of the authors’ knowledge, this study is the first to explore how FDI motives influence board composition of foreign subsidiaries and appointment of subsidiary CEOs. Theoretically, this paper draws upon agency theory and resource dependence theory to extend their application to foreign subsidiaries of EMNEs. The findings enhance the understanding of international corporate governance.

The purpose of this study is to examine how the childhood trauma experiences of CEOs influence firms’ internationalization.

The research used a difference-in-difference method with constructing a treatment group whose chief executive officer (CEO) experienced the great famine in China between the ages of 7 and 11, and a control group whose CEO was born within three years after 1961.

The study reveals a significant inverse correlation between CEOs’ childhood trauma experiences and firm internationalization. However, this correlation is weaker in the case of state-owned enterprises and firms led by CEOs with overseas work experience.

To the best of the authors’ knowledge, this study is the first to extend the theoretical framework to elucidate firms’ internationalization by introducing childhood trauma theory into the field of international business literature. Second, the authors link the literature on the effect of CEO explicit traits and psychological traits on firm internationalization by exploring how CEOs’ childhood trauma experience shapes their risk aversion, which, in turn, influences firm internationalization. Third, the authors address the call for examining the interplay of CEO life experiences by scrutinizing the moderating effect of CEO overseas work experience on the association between CEOs’ childhood trauma exposure and firm internationalization.

Despite the unparalleled importance of value within healthcare, value-based models remain underutilised in the procurement of medical devices. Research is needed to understand what factors incentivise standard, low-priced device purchasing as opposed to value-adding devices with potentially higher overall health outcomes. Framed in agency theory, we examine the conditions under which different actors involved in purchasing decisions select premium-priced, value-adding medical devices over low-priced, standard medical devices.

We conducted 2 × 2 × 2 between-subjects scenario-based vignette experiments on three UK-based online samples of managers (n = 599), medical professionals (n = 279) and purchasing managers (n = 449) with subjects randomly assigned to three treatments: (1) cost-saving incentives, (2) risk-sharing contracts and (3) stronger (versus weaker) clinical evidence.

Our analysis demonstrates the harmful effects of intra-organisational cost-saving incentives on value-based purchasing (VBP) adoption; the positive impact of inter-organisational risk-sharing contracts, especially when medical professionals are involved in decision-making; and the challenge of leveraging clinical evidence to support value claims.

Our results demonstrate the need to align incentives in a context with multiple intra- and inter-organisational agency relationships at play, as well as the difficulty of reducing information asymmetry when information is not easily interpretable to all decision-makers. Overall, the intra-organisational agency factors strongly influenced the choices for the inter-organisational agency relationship.

We contribute to VBP in healthcare by examining the role of intra- and inter-organisational agency relationships and incentives concerning VBP (non-) adoption. We also examine how the impact of such mechanisms differs between medical and purchasing (management) professionals.

Dark triad (DT) personality traits, that is, Machiavellianism, narcissism and psychopathy, are socially unenthusiastic and predict a range of antisocial behaviors. Academic entitlement, similarly, demonstrates the students’ rising temptation of higher grades without putting corresponding efforts. Based on coercion theory, this research investigated power distance as mediator between DT and academic entitlement (externalized responsibility and entitled expectations). Further, this study examined DT model of personality as a predictor of academic entitlement in Chinese higher education institutions (HEIs).

Chinese HEIs were ascertained for data collection. Students (with bachelor’s, master’s and Ph.D. degrees) responded to 719 questionnaires for data analysis. Hypothesized relationships were examined through partial least squares structural equation model (PLS-SEM).

This study established positive and significant direct link between DT and academic entitlement. The indirect effect through power distance was found insignificant between the relationship of DT and academic entitlement.

Based on coercion theory, this study extends the prevailing literature through unexplored effects of DT on academic entitlement and role of power distance in Chinese HEIs. This study validated the effect of DT on academic entitlement; however, direct-only no-mediation of power distance between the relationships is novel in Chinese HEIs. Moreover, power distance as mediator is novel between the relationships. Hence, this study provides an understanding of mentioned associations and contributes to the literature.

This survey explores the application of real options theory to the field of health economics. The integration of options theory offers a valuable framework to address these challenges, providing insights into healthcare investments, policy analysis and patient care pathways.

This research employs the real options theory, a financial concept, to delve into health economics challenges. Through a systematic approach, three distinct models rooted in this theory are crafted and analyzed. Firstly, the study examines the value of investing in emerging health technology, factoring in future advantages, associated costs and unpredictability. The second model is patient-centric, evaluating the choice between immediate treatment switch and waiting for more clarity, while also weighing the associated risks. Lastly, the research assesses pandemic-related government policies, emphasizing the importance of delaying decisions in the face of uncertainties, thereby promoting data-driven policymaking.

Three different real options models are presented in this study to illustrate their applicability and value in aiding decision-makers. (1) The first evaluates investments in new technology, analyzing future benefits, discount rates and benefit volatility to determine investment value. (2) In the second model, a patient has the option of switching treatments now or waiting for more information before optimally switching treatments. However, waiting has its risks, such as disease progression. By modeling the potential benefits and risks of both options, and factoring in the time value, this model aids doctors and patients in making informed decisions based on a quantified assessment of potential outcomes. (3) The third model concerns pandemic policy: governments can end or prolong lockdowns. While awaiting more data on the virus might lead to economic and societal strain, the model emphasizes the economic value of deferring decisions under uncertainty.

This research provides a quantified perspective on various decisions in healthcare, from investments in new technology to treatment choices for patients to government decisions regarding pandemics. By applying real options theory, stakeholders can make more evidence-driven decisions.

Decisions about patient care pathways and pandemic policies have direct societal implications. For instance, choices regarding the prolongation or ending of lockdowns can lead to economic and societal strain.

The originality of this study lies in its application of real options theory, a concept from finance, to the realm of health economics, offering novel insights and analytical tools for decision-makers in the healthcare sector.