The paper analyses small and medium firms' perceptions on contract enforcement along food chain in central region of Hungary using survey data. We find that 59 per cent of respondents believe that they could use court to enforce contracts with their partner. However we do not find significant...

The paper analyses small and medium firms' perceptions on contract enforcement along food chain in central region of Hungary using survey data. We find that 59 per cent of respondents believe that they could use court to enforce contracts with their partner. However we do not find significant...

The assumption of internationally identical factor intensity techniques may be one of the major causes of the HOV model's poor performance. To relax this assumption, detailed input-output data are required to compute the factor intensity techniques used in different countries; however, these...

The 2016 Nobel Memorial Prize in Economic Sciences was awarded to Oliver Hart and Bengt Holmström for their work on contract theory. Contract theory is a subfield of game theory where the conflict between the owner - the principal - and the CEO - or agent - is at the centre of interest. In the...

It is a highly disputed question in the literature how state subsidy influences the behavior of the entrepreneurs and accordingly the growth prospects of the economy. Most authors agree that state intervention in financing deteriorates the incentives of the entrepreneur, but there is no...

It is a highly disputed question in the literature how state subsidy influences the behavior of the entrepreneurs and accordingly the growth prospects of the economy. Most authors agree that state intervention in financing deteriorates the incentives of the entrepreneur, but there is no...

The 2016 Nobel Memorial Prize in Economic Sciences was awarded to Oliver Hart and Bengt Holmström for their work on contract theory. Contract theory is a subfield of game theory where the conflict between the owner - the principal - and the CEO - or agent - is at the centre of interest. In the...

MOL Plc as a national champion does not simply take part in the implementation of the state's decisions but the company's cooperation is needed in realizing the economic, political and social considerations of the authorities. Therefore the company is provided with special preferential...

MOL Plc as a national champion does not simply take part in the implementation of the state's decisions but the company's cooperation is needed in realizing the economic, political and social considerations of the authorities. Therefore the company is provided with special preferential...

This article considers the relationship between centralised, exogenous institutions and the embedded, endogenous institutions of rural governance in Europe through an examination of the evaluation procedures of the European LEADER programme. LEADER is presented in the literature as progressive...