"There is a competitive advantage out there, arguably more powerful than any other. Is it superior strategy? Faster innovation? Smarter employees? No, New York Times best-selling author, Patrick Lencioni, argues that the seminal difference between successful companies and mediocre ones has...

"There is a competitive advantage out there, arguably more powerful than any other. Is it superior strategy? Faster innovation? Smarter employees? No, New York Times best-selling author, Patrick Lencioni, argues that the seminal difference between successful companies and mediocre ones has...

This paper is concerned with the analysis of firm performance, measured as total factor productivity, using a panel of over 1200 Bulgarian and 200 Estonian firms. The main empirical conclusions are (i) higher financial and competitive pressure improves firm performance in Bulgaria; (ii)...