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Published in Michael I. C. Nwogugu, Earnings Management, Fintech-Driven Incentives and Sustainable Growth, 2019
Earnings management, Asset-quality Management and Incentive-Effects Management typically occur and or are amplified within the context of, and often distort organizations, Incentive-Mechanisms, Contracting-Frameworks, Networks-of-Contracts, markets and benefits of Fintech. Contract Theory and Mechanism Design Theory have been jointly studied from various perspectives including Economics/Finance, Operations Research, Mathematical Psychology, Computer Science, Game Theory and Applied Math – see: Hoppe and Schmitz (2018); Niederhoff and Kouvelis (2019); Hong, Wernz and Stillinger (2016); Wu, Zhao and Tang (2014); Li, Liu and Chen (2018); Lin and Chou (1990); Park and Kim (2014); Goetz et al. (2019); Fang and Yuan (2018); Madureira et al. (2014); Meneguzzi et al. (2011, 2012); Zohar and Rosenschein (2008); Terán, Aguilar and Cerrada (2017); and Wei et al. (2018). However, the models in most of these foregoing articles and literature are static, don’t incorporate relevant variables; don’t consider varying “states” and often complex “joint” effects of variables; and they don’t consider Industrial Organization effects of contracts/mechanisms – see Nwogugu (2007a;b), Nwogugu (2019a;b) and Nwogugu (2006).
Towards a multi-party interaction framework: state-of-the-art review in sustainable operations management
Published in International Journal of Production Research, 2022
Zhaofu Hong, Hongyan Zhang, Yeming Gong, Yugang Yu
Co-production and co-creation emphasise the significance of interactions among the three agents in value creation, while the contract theory provides an effective way to realise interactive cooperation. The contract theory studies and analyses how people and organisations with conflicting interests design and build formal or informal agreements to take mutually beneficial actions. Compared with the integrated model, supply chains fail to achieve optimisation only by themselves in the decentralised channels. Therefore, academic and industrial communities design supply chain contracts to weaken the double marginalisation of supply chain. The 2016 Nobel Prize in Economic Science was awarded for contract theory, highlighting the significant values of contracts in sustainable operations management (Guo et al. 2017). Co-production and co-creation theory and contract theory can support the formulation and interpretation of multi-party interaction framework.