Optimizing Distribution: Systems in Asset Management by Philipp Caspar Koch, Prof. Dr. Claudia Fantapié Altobelli

By Philipp Caspar Koch, Prof. Dr. Claudia Fantapié Altobelli

The asset administration in Germany has been more and more dealing with the problem to exploit measures to additionally optimize its distributions platforms as capacity for securing aggressive virtue. consequently, this publication falls again on new institutional economics methods of administration technological know-how to stipulate with a model-shaping reason the best way a planned selection and layout of various institutional preparations operates as a tool for optimizing internet inflows from deepest traders.

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This success, in other words, the competitive advantage a firm enjoys strongly depends on the strategic resources and capabilities it has access to. As Barney (1991, pp. 105-112) outlines, for resources and capabilities to be strategically relevant and, thus, to underpin a sustained competitive advantage, they need to be valuable, rare, imperfectly imitable, and difficult to substitute. In terms of a guideline for optimal degrees of decentralization, RBV proposes that firms will keep those activities in-house for which they have the strategic core competences (Prahalad and Hamel 1990, pp.

Asset specificity is defined as durable investments that are undertaken in support of particular transactions. These assets cannot be redeployed to another transaction without some sacrifice in their productivity and subsequently in their value, or additional costs are required to adapt them to new circumstances. In other words, once investments are made in relationship-specific assets they can reasonably be regarded as sunk. Generally six categories of asset specificity can be distinguished: specialized physical assets, specialized human assets, site specificity, dedicated assets, brand name capital, and temporal specificity.

This shows that based on comparative cost considerations, this conceptual approach offers propositions to make-or-buy decisions, thereby addressing the famous question: why are there firms when there are markets? Underlining this normative character of TCE, Noordewier, John, and Nevin (1990, p. 80) argue that firms which follow prescriptions of TCE have in fact better performance [from lower costs] than those that do not adhere. While the classic TCE underlying NIE focuses exclusively on a comparative cost perspective, alternative criteria have been frequently introduced and applied to pinpoint the optimal institutional arrangement.

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