The paper provides an interpretation of the transformation of post-soviet Russian enterprises from the resource-based perspective of the firm in the context of institutional change. Based on the resource-based perspective, which conceptualises a firm as a collection of resources embedded in...

Das in Publikumsfonds der deutschen Investemtbranche investierte Kapital betrug Ende März 1999 310,4 Mrd Euro, das von institutionellen Anlegern in Spezialfonds investierte Kapital 389,3 Mrd. Euro. Allein im ersten Quartal 1999 flossen 16,6 Mrd. Euro in Publikums- und 15,9 Mrd. Euro in...

Sanctions are widely used to promote compliance in principal-agent-relationships.While there is ample evidence confirming the predicted positive incentive effect of sanctions,it has also been shown that imposing sanctions may in fact reduce complianceby crowding-out intrinsic motivation. We add...