Evolution of strategic management has been like a swinging pendulum. Theoretically it has oscillated between perspective external to the firm and internal firm characteristics and methodologically between quantitative and qualitative methods. The rise of resource based view and associated...

This paper develops a constant, data-coherent, error correction model for broad money demand (M3) in Greece. The model contributes to a better understanding of the effects of monetary policy in Greece, and of the portfolio consequences of financial innovation in general. The broad monetary...

Policymakers often express concern that herding by financial market participants destabilizes markets and increases the fragility of the financial system. This paper provides an overview of the recent theoretical and empirical research on herd behavior in financial markets. It addresses the...

This paper examines the interaction between capital flows and international reserve holdings in the context of increasing financial integration. For emerging markets the sensitivity of reserves to net capital flows was negative in the 1980s, but became positive after the Asian crisis when these...

The paper provides an overview of the profound and rapid changes in banking brought about by technology and deregulation, and discusses the hurdles that will have to be negotiated for putting in place the three pillars-capital adequacy rules, supervision, and market discipline-of the bank...

Extant theory and empirical evidence suggest that strategies of diversification and geographic scope expansion carry benefits as well as costs. However, it is unclear whether the arguments relating diversification and geographic scope expansion with firm performance are applicable in the...

This paper is aimed at looking at New Institutional Economics (NIE) as a meta-paradigm i.e. group of paradigms that has common roots and has evolved over a period of time as an integrative theory. In the last two decades, the field underwent considerable development, and an attempt is made here...

Research and development (R&D) investments are strategic choices that firms make to create and sustain competitive advantage. Extant literature proposes that firms’ R&D investments and their profitability and capital market performance are reciprocally related. However, the direction of these...