Higher education has entered centre-stage in the context of the knowledge economy and has been deployed in the search for economic competitiveness and social development. Against this backdrop, this highly illuminating Handbook explores worldwide convergences and divergences in national higher...

"We develop a model of internal governance where the self-serving actions of top management are limited by the potential reaction of subordinates. Internal governance can mitigate agency problems and ensure that firms have substantial value, even with little or no external governance by...

"We develop a model where dividend payout, investment and financing decisions are made by managers who attempt to maximize the rents they take from the firm. But the threat of intervention by outside shareholders constrains rents and forces rents and dividends to move in lockstep. Managers are...