This article examines effects of dyadic ties and interpersonal trust on referrals and investment decisions of venture capitalists in the Chinese and Russian contexts. The study uses the postulate of transitivity of social network theory as a conceptual framework. The findings reveal that...

Most studies on entrepreneurs’ networks incorporate social capital and networks as independent variables that affect entrepreneurs’ actions and its outcomes. By contrast, this article examines social capital of the Chinese and Russian entrepreneurs and venture capitalists as dependent...

Based on a large panel of Czech manufacturing firms, we estimate firm-level production functions in 2003–2007 using the Levinsohn and Petrin (2003) and Wooldridge (2009) approaches, correcting for the measurement error in capital. We show that measurement error plays a significant role in the...

Based on a large panel of Czech manufacturing firms, we estimate firm-level production functions in 2003–2007 using the Levinsohn and Petrin (2003) and Wooldridge (2009) approaches, correcting for the measurement error in capital. We show that measurement error plays a significant role in the...

The pricing policy of Bulgarian manufacturing firms is analysed in the paper in the context of the theory of the price-setting behaviour of firms endowed with market power, and more specifically, using the notion of mark-up pricing. Using some recent derivations in the literature, we estimate...

Under perfect competition and constant returns to scale, firms producing homogeneous products set their prices at their marginal costs which also equal their average costs. However, the departure from these standard assumptions has important implications with respects to the derived theoretical...

One of the major tasks facing a transition economy is to create the competitive environment of a properly functioning market economy. This paper attempts to analyze the relationship of market structure, market imperfections and corporate performance by mark-up pricing. There is clear evidence...

ITransition started by a sudden collapse of corporate efficiency, as one important element of the transformational recession. It was followed by a consolidation period, with rapidly increasing efficiency and improving returns to scale. During this period performance was frequently improved by...

One of the major tasks facing a transition economy is to create the competitive environment of a properly functioning market economy. It is widely believed that competition has a positive effect on efficiency, but the theoretical and empirical support is quite scarce. The objective of this paper...

There is no gender difference between success in establishing a business once both males and females have the same preference to self-employment and attempts towards establishing a new business. However, the gender gap tends to be huge when it comes to individual preferences and attempts to...