We develop a product market theory that explains why firms invest in general training of their workers. We consider a model where firms first decide whether to invest in general human capital, then make wage offers for each others' trained employees and finally engage in imperfect product market...

This paper analyzes the design of innovation contests when the quality of an innovation depends on the research approach of the supplier, but the best approach is unknown. Diversity of approaches is desirable because it generates an option value. In our main model with two suppliers, the buyer...

Guest editors' introduction of a special issue dedicated to advancing understanding of how a firm's reputation is influenced by the actions of other firms and advancing methods of managing this interdependence. It introduces the topic of reputational interdependence, summarizes the five articles...

Even though smalland mediumsized firms (SMEs) were believed not to proceed beyond exporting in their internationalization routes, we can observe new types of cooperation intensive entrepreneurial firms, so-called "micromultinational enterprises" (mMNEs), entering the global landscape. These...

Fines imposed on firms for corporate infringements such as cartels reduce these infringement's profitability. When a manager knows when a violation is unprofitable he can prevent violations committed by an uninformed employee by investing in compliance programs (CPs). Investments can be...

Trust has been one of the central topics in organization research for the last years. Although the positive economic effects on the existence of trust relationships are relatively indisputable, the consequences for organizational design remain unclear. Against this background, the paper explores...

The literatures on bounded and ecological rationality are built on adaptationism—and its associated modular, cognitivist and computational paradigm—that does not address or explain the evolutionary origins of rationality. We argue that the adaptive mechanisms of evolution are not sufficient...

Why does individual performance pay seem to prevail in human capital intensive industries? We present a model that may explain this. In a repeated game model of relational contracting, we analyze the conditions for implementing peer dependent incentive regimes when agents possess indispensable...

Blockchain technology is firmly established in the public awareness as a revolutionary new technology underpinning cryptocurrency. However, its potential applications can be found across sectors and industries in providing a novel way of producing coordination necessary to transact online,...

Blockchain technology is firmly established in the public awareness as a revolutionary new technology underpinning cryptocurrency. However, its potential applications can be found across sectors and industries in providing a novel way of producing coordination necessary to transact online,...