This paper investigates a Cournot game model with a nonlinear demand function where a profit-maximizing firm competes against a socially concerned firm. The timing of the game is as follows. In stage one, each firm non-cooperatively decides whether to offer a wage-rise contract policy (WRCP) as...

Purpose – In recent years, an increasing interest in the participative practices of the workpeople in their companies has taken place in the European Union. Taking advantage of this situation, the purpose of this paper is to show additional evidence of the benefits from companies with majority...

This paper examines the idea that if an incumbent firm deviates from short-term profit maximization behavior and deters the entry of a potential entrant at the expense of higher profit, then its own mid-/long-term profit maximization is achieved. The paper confirms the importance of the...

This paper examines two three-stage games with a labor-managed income-perworker- maximizing firm and a profit-maximizing firm. In the first stage, the labormanaged firm (resp. the profit-maximizing firm) decides whether to make a commitment to capacity. In the second stage, the other firm...

This paper studies the effectiveness of lifetime employment as a strategic commitment in a three-stage Cournot model with two identical labour-managed income-per-worker-maximizing firms. In the first stage, one labour-managed firm is allowed to offer lifetime employment. In the second stage, the...

The main issue is the organization of firms when different degrees of labour participation are taken into account. We start reviewing the literature on the LM firm. We then consider a less radical labour participation, i.e., the Aoki firm. We survey extensions of the Aoki's firm to the case of...

Corporate scandals, reflected in excessive management compensation and fraudulent accounts, cause considerable damage. Agency theory's insistence on linking the compensation of managers and directors as closely as possible to firm performance is a major reason for these scandals. They cannot be...

Im Mittelpunkt der Arbeit steht die Untersuchung des Stellenwertes und der Bedeutung von Innova-tionsnetzwerken bei der Gründungsentscheidung und nach erfolgtem Markteintritt. Für Unterneh-mensgründungen aus Wirtschaftszweigen mit hoher Innovationsintensität werden die Implikationen, die aus...

A stronger long-term orientation is considered a competitive advantage of family firms relative to non-family firms. In this study, we use panel data of U.S. firms and analyze this proposition. Our findings are surprising. Only in when the family is involved in the management of the firm is the...

Some path-breaking work on mergers takes efficiency gains for granted, or assumes that firms have perfect knowledge when taking merger decisions. In practice, firms and competition authorities cannot know exact future efficiency gains, prior to merger consummation. This paper analyzes horizontal...