During the last years issues of strategic management accounting have received widespread attention in the accounting literature. Yet the conceptual foundation of most proposals is not clear. This paper presents a theoretical analysis of one of the most prominent approaches of strategic...

The common prior assumption asserts that the beliefs of agents in different states of theworld are their posteriors based on a common prior and possibly some private signal. Commonpriors are pervasive in most economic models of incomplete information, oligopoly models withasymmetrically informed...

Economists have difficulties to conceptualise and model the relationship betweenmacroeconomic policy and industry change. This paper explores the relationshipsbetween industry cost structures and macroeconomic regimes in central and eastEuropean countries (CEECs). It finds that the cost...

Die vorliegende Arbeit stellt zum neue Institutionen, Vergabeverfahren und Anreizsysteme der Arbeitsverwaltung in Australien dar. Außerdem wird eine erste Analyse der Erfahrungen vor dem theoretischenHintergrund der Neuen Institutionenökonomik vorgenommen.

The sweeping political changes and institutional transformation in the former Soviet Union, together with the market shock created by the collapse of the Soviet economy were expected to generate substantial changes in firm behaviours. Privatisation, in particular, was thought to constitute the...

This paper utilises evidence from the first collapse of a private finance initiative in the UK, that of the National Physical Laboratory, to examine the reality of PFIs in contrast to the rhetoric presented by government...

This paper uses a stochastic cost frontier model to investigate the efficiency of Britain’s private railways during the period 1893-1912. We find that there was substantial inefficiency in the industry with no sign of reduction over time. Our main conclusion is that principal agent problems...