To be relevant to a firm a real option needs to fit into a theory of the firm explaining its existence, exercise conditions and value. We make a step toward an option based-theory of the firm by describing the emergence of a firm’s options and the strategic building of new competences for...

The financial systems in continental Europe are subject to profound changes in the institutions of market exchange. Banks traditionally holding close relationships with firms are substituted by non-bank institutional investors. The present paper examines whether this implies a substitution of...

The financial systems in continental Europe are subject to profound changes in the institutions of market exchange. Banks traditionally holding close relationships with firms are substituted by non-bank institutional investors. The present paper examines whether this implies a substitution of...

Transaction Costs Theory has been considered the 'new orthodoxy' in the theory of the firm, being this the very same reason for wide criticism by different schools of economic thought. However, there seems to be signs of complementarity between TCT and evolutionary approaches to the firm. Some...

For the nations of Latin America and the Caribbean to respond effectively to the Climate Change challenge, they need to be able to understand what the impacts of Climate Change may be for each country and the extent of each country's contribution to the problem before they can define and...

This study has been carried out with the purpose of assessing the overall investment needs of Latin America and the Caribbean by 2015, based on the assumption of meeting the Millennium Development Goals with regards to improving access to drinking water services and to better sanitation. It...