In the conditions of constant market changes, fast development and spread of technology, multiply competition and „over night” product superannuation, successful companies became those who create new knowledge, spread it out trough the entire company and implement it rapidly in the new...

A team work is a way of the organization work based on common connection, mutual co-operation and a responsibility of the team members’ work. As benefits of the team work are considered e.g.: bigger amount of improvement - optimalization processes and decreasing cost, more effective solving...

Millions of workers derive much of their income from tips and are subject to the “tipped minimum wage” that differs from the regular minimum wage. This article examines the implications of the tipped minimum wage and shows that increasing it may lead restaurants to adopt a compulsory service...

Many basic economic theories with perfectly functioning markets do not predict the existence of the vast number of microenterprises readily observed across the world. We put forward a model that illuminates why financial and managerial capital constraints may impede experimentation, and thus...

This paper analyses the profitability of horizontal mergers in a Stackelberg model and their impact on welfare when there is uncertainty about the marginal costs of the newly merged firms. The authors consider that the merging firms decide their production strategy knowing the actual value of...

Some path-breaking work on mergers takes efficiency gains for granted, or assumes that firms have perfect knowledge when taking merger decisions. In practice, firms and competition authorities cannot know exact future efficiency gains, prior to merger consummation. This paper analyzes horizontal...

Overconfidence has been proposed as an explanation for excess market entry by entrepreneurs and low returns in entrepreneurial activities. However, establishing that entrepreneurs are more overconfident than non-entrepreneurs requires the use of representative population samples; in addition,...

Religious beliefs affect the economic behavior of individuals. The aim of this study is to investigate the relation between religious beliefs and entrepreneurship. Empirical evidence that entrepreneurship rates differ among religions suggests that religious beliefs influence the pursuit of...

This paper centres around the question of ownership of firms and managerial competition and how these affect managers and employees’ incentives to invest in human capital. We argue that employees’ incentives in human capital investment are affected by both ownership and competition since...

In the current economic conditions effective business enterprise is impossible without constant involvement of borrowed capital. However, before planning to attract capital by obtaining bank loans, the company's financial service should assess the possibility of a loan by analyzing the solvency...