Besides the classical theories of the firms as complete or incomplete contract theories, in the last decades there were developed some new theories bringing new perspectives and approaches. Among these new perspectives we are presenting in this paper the evolutionary theory of the firm, the...

The purpose of this paper is to reflect the behavioral aspects that govern corporations. The paper briefly presents some of the main pillars of behavioral corporate finance: management, closed – end funds puzzle, dividends and the importance of aggregate earnings releases. The first pillar...

Incomplete contracts theories have developed significantly in recent decades, although insistence for rigorous models left little room for empirical research. By formalizing and extending some results from other theories such as transaction costs, incomplete contracts theory tries to analyze the...

Corporate governance refers to the manner in which companies are directed and controlled. Business management was always guided by certain principles, but the current meaning of corporate governance concerns and the contribution that companies must have the overall development of modern society....

The purpose of this paper is to reflect the behavioral biases that led to this global financial crisis. The paper presents briefly the real causes of the crisis (structural and cyclical factors) and puts a greater accent on the behavioral factors. The authors considered to structure the paper in...

Company performance varies among economic sectors, countries and regions. It is influenced by a very large number of factors. This study aims at identifying and analyzing the determinants that must be considered by company's management presently in order to face competition and achieve superior...

The object of contractual theories is describing exchange relation between agents, considering institutional and informational restriction in which they evolve. From trials of removing insufficiency in contractual theories new representations gradually

Ronald Coase article from 1937, The Nature of the Firm, meant a new way of thinking and conceiving of the world, especially of economic organisations. Coase argued that the firm and the market represent two alternative ways to organise the same transactio

The implantation of an ERP (abbreviation for "Enterprise Resource Planning") system is an enterprise project that implies the remodeling of the information system, mostly the rethinking of management procedures within the organization. The expansion and the complexity of these projects demand a...

Taking into consideration the current conditions, in which "information is often assimilated with power" the major interest for most organizations stands in collecting the necessary knowledge at a high qualitative level and using it with maximum efficiency, through its materialization into...