After the accession of Bulgaria in EU, the Bulgarian market becomes part of the common European market. The internationalization of the enterprises, the development of competitive productions, the strategic orientation towards international markets, have decisive role for the future development...

This paper investigates the employment growth of small and medium-sized firms that survived the transformation process of the German Democratic Republic (GDR). We find that firms founded in the later period of the GDR’s existence have especially low growth prospects, even 10 years after German...

This paper illustrates subsidiary evolution in a transition economy through the development of a multinational company’s Russian subsidiary. Building on the concept of subsidiary evolution, we analyze how knowledge transfer from headquarters and application of the subsidiary management’s...

The article presents a model that analyzes the optimal strategy of multi-product firms when consumers are affected by reference prices. Generally, the stronger the consideration of reference prices is, the more intensified the competition is and the lower are the prices and profits. In some...

Experimental evidence suggests that consumers are affected by reference prices and by relative price differences (“relative thinking”). A linear-city model of two retailers that sell two goods suggests how this consumer behavior affects firm strategy and market outcomes. A simple model...

In the literature it is proposed that high adaptive capability is associated with high costs and internal inefficiency, despite the potential benefits to be gained from being adaptive. Investigates a set of adaptability variables that have not been previously researched and, therefore, takes an...

Personnel economics is a rather young academic (sub-)discipline that applies (micro) economic methodology and insights to the personnel function of companies. It is scientifically fertile and complementary to other disciplinary approaches to personnel issues. Instead of that, an approach without...

Firm disclosures often reach only a portion of investors, which results in information asymmetry among investors, and therefore lower market liquidity. This issue is particularly salient for firms that are not highly visible, as they tend not to receive broad news dissemination via traditional...