As is well established, commercial real estate is a highly specific asset: heterogeneous, indivisible and with less information transparency than most other commonly held investment assets. These attributes negatively affect the liquidity of real estate and encourage the use of intermediaries...

Este artículo relaciona las implicaciones de la teoría sobre los costos de transacción de Ronald Coase. La economía de los costos de transacción (ECT) es un marco teórico de primer orden para la comprensión tanto de las limitaciones para el desarrollo de la empresa; y para advertir...

This paper investigates the effects of contractual arrangements of firms operating in a regulated environment on their investment behaviour. It studies the interaction between repeated auctions of rail franchises of different lengths, uncertainty and incentives for investment in rolling stock,...

This article addressed one of the hardest unanswered legal questions facing the modern nonprofit corporation: How much discretion should nonprofit boards have to redefine an organization's mission - for instance by changing an acute care hospital into outpatient neighborhood clinics, or by...

This paper examines the determinants of wage pressure in large companies, including ownership characteristics and the impact of regional labour markets. By using a panel of 329 Polish largest firms during the period 1997-2001, we find evidence of rent sharing activities, however there is also...

We study worker turnover in a transition economy to investigate to what extent the length of time a worker has been employed by a firm shapes the turnover process. Using data from the Polish Labor Force Survey and The Russian Longitudinal Monitor Survey, we compare the pattern of turnover with a...