In this paper we intend to show how the challenges of managing a Business Process Reengineering (BPR) project are consistent with the ones of a Systems Development project. As traditional management techniques were no longer appropriate in the changing business environment, companies employed...

This paper introduces endogenous and directed technical change in a growth model with environmentalconstraints. A unique final good is produced by combining inputs from two sectors. Oneof these sectors uses “dirty” machines and thus creates environmental degradation. Research canbe directed...

We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through which this link arises, we build a model that nests the lazy-manager hypothesis with career-concerns, where institutional...

This paper develops a framework for evaluating the social returns to infrastructure investments that intensify product market competition. We use a circular model with asymmetric production costs both for incumbent firms and potential entrants, where unit transport cost measures the intensity of...

This paper presents a simple model for analysing the contribution of investments in physical and institutional infrastructure to the transition process. In addition to the direct cost savings, infrastructure investment generates important indirect effects, or transition impacts. The model shows...

This paper develops a framework to analyze the relationship between the diffusion of new technologies and the decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly available information. Decentralized control, on the...

Transition has entailed the introduction of policies to stimulate product market competition, to establish effective corporate governance and to harden enterprise budget constraints. How do these policies interact? Are they substitute policy instruments or does one policy reinforce the effect of...

(From introduction). By many standards, economic and monetary union (EMU) is a major success. The transition to the new currency was remarkably smooth. The euro area has enjoyed remarkable price stability. After several years of disappointing economic performance between 2001 and 2005, growth...

(From introduction). By many standards, economic and monetary union (EMU) is a major success. The transition to the new currency was remarkably smooth. The euro area has enjoyed remarkable price stability. After several years of disappointing economic performance between 2001 and 2005, growth...

Economics