We show that the development of the financial sector does not change monotonically over time. In particular, we find that by most measures, countries were more financially developed in 1913 than in 1980 and only recently have they surpassed their 1913 levels. This pattern is inconsistent with...

In analyzing firm productivity in Belgium, this article shows empirically that both scale and efficiency contribute positively to the typical productivity advantage of foreign affiliates. Stochastic production frontier estimation using the translog functional form indicates that foreign...

The article focuses on the way in which multinational corporations (MNCs) and local parent firms interact in the construction and operation of international joint ventures (IJVs). It seeks to contribute to the theory of IJV process in two ways. First, it constructs a preliminary integrative...

This article explores regulatory developments with regard to employee representation in post-socialist corporate governance systems of Central Europe. It sets out to weigh the applicability of different theories on postsocialist industrial relations that focus on domestic, European and...

While the role of management accountants has traditionally been limited to the provision of useful information to decision-makers, recent studies show that contemporary management accountants have become an integral part of strategic decision-making processes. The findings based on a survey of...

The Trans-Pacific Partnership (TPP) aspires to become a state-of-the-art trade agreement linking 12 countries on both sides of the Pacific. In addition to establishing a free trade agreement (FTA) among these countries, negotiators are pursuing a long list of other issues, both trade-related and...

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...

The accession of Poland to the Euro Zone is a crucial condition for the country’s functioning in the European Union. Poland has not stated the date of the accession to the Euro Zone yet. The feasible date of the acceptance of the Euro by Poland is the end of the present decade. The accession...

Purpose – The purpose of this paper is to discuss the regulation, awareness, compliance and performance of small and medium-size enterprises (SMEs) in Cameroon's Central and Littoral regions, focusing on the manufacturing and retail sectors. Design/methodology/approach – The full survey was...

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...