Passion – in the sense of fervent commitment to action – and compassion – understood as sensitive openness for social and ecological concerns – are not a sure formula for business success. Whether social or ecological entrepreneurs, who find themselves under pressure from market...

The past quarter century has witnessed many developments in the research and practice of managing human resources in the United States. In this article, we briefly describe two major areas in which these developments have been unfolding: strategic human resource management and international...

Since summer 2007 the Subprime credit crisis has been affecting the international financial markets. One of the consequences of the crisis was the collapse of the market for large-sized leveraged buyout transactions in late 2007 and early 2008. The goal of this Working Paper is to examine to...

Credit risk measurement and management become more important in all financial institutions in the light of the current financial crisis and the global recession. This particularly applies to most of the complex structured financing forms whose risk cannot be quantified with com-mon rating...

This paper seeks to explain the causes and consequences of the United States subprime mortgage crisis, and how this crisis has led to a generalized credit crunch in other financial sectors that ultimately affects the real economy. It postulates that, despite the recent financial innovations, the...

The paper analyses the impact of private equity (PE) backed leveraged buyouts (LBOs) on innovation output (patenting). Using a sample of 407 UK deals we find that LBOs have a positive causal effect on patent stock and quality-adjusted patent stock. Our results imply a 6% increase in...

This paper studies corporate governance when a firm operates in imperfect markets. We derive firms' decisions from utility maximization by individuals. If those involved in decisions are also consumers, the usual monopoly distortion is reduced. Corporate governance can effect the equilibrium in...

Das Konzept der Bioökonomie hat zunehmend an Bedeutung gewonnen. Die Transformation zur Bioökonomie stellt die nachhaltige Nutzung von Böden vor neue Herausforderungen. Gesellschaftliche Wahrnehmungen müssen verstärkt bei der Entwicklung von Transformationsstrategien berücksichtigt werden....

Corporate social responsibility (CSR) is increasingly a core component of corporate strategy in the global economy. In recent years its importance has become even greater, primarily because of the financial scandals, investors’ losses, and reputational damage to listed companies. While...