The accepted approach to capital budgeting leaves decision makers without appropriate guidance because it ignores the cognitive, organizational, and institutional dimensions of their decision-making process. This approach is based upon the unrealistic assumptions of neoclassical finance, where...

We compare the concept of Economic Value Added (EVA) with the traditional Discounted Cash Flows (DCF) method of investment appraisal. We find that DCF suffers from dynamic inconsistency and may approve suboptimal investment decisions. In contrast, EVA does not suffer from these shortcomings and...

Recent contributions on offshoring often assume that firms can freely split their production process into separate steps which can be ranked according to the cost savings from producing abroad. We replace this assumption by the notion of a technologically determined sequence of production steps....

Forschung zum Thema geistiges Eigentum (IP) geht im Allgemeinen von zwei Annahmen aus. Zum einen ist dies die Annahme, dass Streitfälle in Sachen IP zu Gericht gebracht werden können, wo gerecht entschieden wird. Zum anderen ist dies die Annahme, dass Unternehmen über ausreichend Ressourcen...

In this keynote address, David Wirth identifies fundamental and dynamic attributes of globalisation, examines the need to confront institutional failures and systemic challenges of multilateral governance, and offers some preliminary observations on directions in which global governance might...

International institutions should be as equal as they claim to be, especially since many of them assert superordinate normative authority based on having egalitarian governance structures. However, when defining equality with respect to states' real-world influence in determining substantive...

Problemistic search theory, with its roots in the Carnegie School tradition, describes a behaviorally plausible process by which firms learn from performance feedback. A firm's recognition of performance below aspirations leads to search for a solution to the problem, resulting in change...