This paper analyzes the impact of simultaneous increases in piracy (piracy effect) and network externalities (network effect) on R&D investment. A single firm's R&D investment increases (or decreases) if the network effect (or piracy effect) is dominant. With R&D competition, if the firms...

This paper aims at courageously building the design of a conceptual system of thinking economics, conceived as an alternative to the routine one. In this purpose, methodologically, the paper is, pointing out several of our main conceptions that are developed in our researches, also several...

Economic growth is affected by the size and dynamics of underground economy. Determining this size is a subject of research for many authors. In this paper we present the relationship between underground economy dynamics and the dynamics of stock markets. The observations are based on regression...

This paper considers the process optimal strategies for an enhanced index tracking problem. The investment goals are set to achieve a higher return than the benchmark by setting the portfolio's risk profile identical to the primary index risk factors. Return differences between the index and the...

In this paper we generalize the median regression method to be applicable to system of regression equations, in particular SURE models. Giving the existence of proper system wise medians of the residuals from different equations, we apply the weighted median regression with the weights obtained...

A two-equation integrated model is developed to capture bank profit and risk-avoidance decisions. Output is limited to customer loans. The profit function is based on output and selected inputs. Risk-avoidance (using the capitalization ratio) depends on micro and micro∗macro interactive...

The aim of the paper is to study how itâ€(tm)s possible to enhance the cognitive enterprise model by the theory of autopoietic systems. I propose a model that considers the organization as a closed system in which all cognitive activity is necessary to develop coherent operations needed to...

This paper formulates a duopoly model of firms concerned with relative profits as well as their own profits and investigates the relationship between the degree of competitiveness in a market and R&D expenditure. We find a non-monotone relationship between the two variables. When the duopoly...

The economical concept of SMEs represents the axis of functional market economies. The problem of their delimitation within the European area is being solved unitarily and transparently today. Besides the communitarian and national significance of SMEs, the investigation of their employees'...

Starting with J. K. Galbraith who conceptualized what â€good society†means and how it can be achieved, a long series of both theoretical and practical concerns has emerged. One way of implementing it is companiesâ€(tm) social responsibility. Companies are parts of the society,...